China HSBC flash PMI hits 2-year high in January

Growth in China's factory sector accelerated to a two-year high this month, as manufacturers received more orders in an encouraging sign for the country's economic rebound. 

According to the HSBC flash purchasing managers' index, it rose to 51.9 in January. 

A reading above the 50-point level shows an expansion in the manufacturing sector. 

The PMI is the latest indication that the world's second-largest economy is steadily recovering from a near two-year cool-down.