‘Overall the fundamentals are good’ – Caixin’s Chief Economist Dr. He Fan

By FXStreet FXStreet (Mumbai) – Shortly after the release of the weak Chinese PMI survey, Dr He Fan, Chief Economist at Insight Group, played down risks emanating from the tepid data.

Key Quotes:

“The Caixin Flash China General Manufacturing PMI for September is 47.0, down from 47.3 in August.”

“The decline indicates the nation’s manufacturing industry has reached a crucial stage in the structural transformation process.”

“Overall, the fundamentals are good. The principle reason for the weakening of manufacturing is tied to previous changes in factors related to external demand and prices.”

“Fiscal expenditures surged in August, pointing to stronger government efforts on the fiscal policy front. Patience may be needed for policies designed to promote stabilization to demonstrate their effectiveness.”
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Source:: FX Street