China's manufacturing expands at fastest pace since May 2011
China's manufacturing has expanded in December at the fastest pace since May 2011, marking a 19-month high.
The final reading of a Purchasing Managers' Index from HSBC and Markit Economics comes in at 51.5
It compared with the preliminary reading of 50.9 published in December 14th and the final reading of 50.5 in November.
A reading above 50 indicates expansion.
In a statement, HSBC's chief economist for China, Qu Hongbin, said such momentum is likely to be sustained in the coming months.
He added that this is because infrastructure construction will be ramping up and the property-market is stabilising.
Another likely boost to manufacturing will be Beijing's pledge to keep pro-growth policy in place for the coming year.