09/02/2013, 00.00
CHINA
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Renewed growth in production in China, but not for small and medium sized businesses

PMI data for August reveals rebound in manufacturing sector. The government aims to achieve a GDP of 7.5% by 2013, vital to maintaining wages and jobs, and thus social stability. But economists warn economy must "disengage" from state and focus on less developed realities.

Beijing ( AsiaNews / Agencies) - After 4 months of recession, Chinese industrial activity is up again due to an increase in domestic demand. According to research carried out by Markit / HSBC , the Purchasing Managers ' Index ( PMI , productivity index) reached 50.1 points in August against 47.7 in July. Analysts had expected a value of around 50.6 points. Data below 50 indicates recession, upwards expansion.

The numbers indicate, however, that the growth of the world's second largest economy is slowing down. In fact, many analysts believe that Augusts' positive data does not indicate a real stabilization of the market, rather measures taken by the central government to push the economic production and achieve the growth target for the current year , equal to 7.5 % . This margin is vital to maintaining wages and jobs, and thus social stability. In this context, in recent months Beijing has launched a new stimulus plan made ​​up of tax cuts for small businesses, incentives for exporters and investment in infrastructure.

Small and medium-sized enterprises are still experiencing the greatest difficulties: the PMI index relative to these, in fact, is in the negative for the 17th consecutive month. The biggest problem for small industries remains access to credit, since only recently has industrial growth begun to effect reach the real economy and improve the populations' purchasing power.

Economists and critics believe that the national economy needs to disengage from state giants (which comply with the Communist Party and which receive aid and tax breaks during each financial maneuver) and focus on smaller realities. Economic aid to the giants of industrial production, energy and telecommunications in fact is "fixing" data relating to the real economy , presenting values ​​that are growing , however, the result of mathematical games and not of real national wealth .

 

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