The HSBC Flash China Manufacturing Purchasing Managers' Index (PMI) rose to 49.7 in May from April's 48.1, hitting a five-month high. "The improvement was broad-based with both new orders and new export orders back in expansionary territory," says Hongbin Qu, chief China economist at HSBC. "Dis-inflationary pressures also eased over the month and output prices […]

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