There is a reason ITI has been at the top of the China manufacturing industry for over 40 years. Our decades of experience have allowed us to build relationships, learn the culture, and utilize it for a variety of manufacturing processes. And now this continued emerging market has hit a record high.
According to a report by the Hong Kong and Shanghai Banking Corporation (HSBC), china has hit another high in the purchasing managers index (PMI) with a 50.7. This is the highest number since April, when it was at 51.9.
The index tracks activity in workshops, industry, and other areas of China manufacturing and is closely watched as an important factor in the health of an economy. The HSBC PMI is also done for other developed countries around the world.
However, China’s economy did hit a snag in the property sector according to the index and the manufacturing industry experienced some contraction.
The Chinese government is planning on cutting the amount of funds that some banks must hold in reserve as a way to ease the economy.
However, the renminbi (Chinese currency), is expected to continue to rise as a major currency for world trade even though it is not widely used outside China.
To learn more about how China manufacturing and ITI’s experience can help with your next project, contact us or fill out our form to get a quote.