China manufacturing on the mend

22 April 2012 Last updated at 23:38 ET

Workers at a factory in ChinaManufacturing and export sectors are key contributors to China's economic growth

China's manufacturing activity slowed less quickly in April than the previous month, a preliminary HSBC survey has showed.

The HSBC Purchasing Manager's Index (PMI) rose to 49.1 from 48.3 in March easing concerns of a sharp slowdown in China's economy.

There have been fears that slowing growth in key markets such as the US and eurozone may hurt China's economy.

China relies heavily on manufacturing and exports for growth.

The PMI is a key indicator of manufacturing activity. A reading below 50 shows contraction in the sector and the HSBC index has remained below that mark for six straight months now.

However, Markit Economic Research, which publishes the index, said the latest reading "pointed to a slower pace of deterioration than in March, largely reflecting slower rates of decline of manufacturing production and new orders".

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China the Savior: BRICS cementing Euro-deals

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