Foreign media: Overseas investors are becoming more optimistic about China's economy

Source: Xinhua Author: 2024-04-03 09:37:55

According to Bloomberg News website reported on April 1, China's stock market stabilized as a rebound in manufacturing activity bolstered hopes for an economic recovery in the country.

Investors turned more optimistic about the world's second-largest economy after China's official manufacturing purchasing managers' index hit its highest level in a year.

"Optimism about the Chinese economy is real," said Vishnu Varatan, head of economics and strategy at Mizuho Bank.

That optimism is likely to continue, he said, given that "similar optimism is occurring elsewhere in Asia, coinciding with a pick-up in global manufacturing."

China's main stock indexes have rebounded strongly from their lows at the start of the year, also helped by the Chinese government's determination to end the market's slump and renewed inflows of foreign funds.

According to Reuters on April 1, Chinese stocks rose on the first day after the latest manufacturing data showed that China's economic recovery is strengthening.

China's manufacturing purchasing managers' index hit a one-year high in March, boosted by rising orders from customers at home and abroad.

Recently, Chinese export and retail sales data both came in better than expected, suggesting a bright start to 2024 for the world's second-largest economy.

Responsible Editor: Ge Yan