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 .