Manufacturing in China Registered Growth
During the global economic slowdown, a lot of countries in Europe and the American continent registered significant slumps in their economies, with many companies having issues with a decrease in sales, cuts in payments and costs and the loss of millions jobs. In the meantime the manufacturing sector of People's Republic of China registered a minor growth in March. This is the first growth throughout the past six month.
China Federation of Logistics and Purchasing had its purchasing managers index increased to 52.4 percent compared to the figure registered in February, when it showed 49 percent. It is worth mentioning that China Federation of Logistics and Purchasing represents the only legal large scale comprehensive logistics social organization, the creation of which was approved by the State Council and which is directly administered by the State Economic and Trade Commission (SETC) of the People's Republic of China.
To note that any number over 50 percent shows an expansion in the country's manufacturing sector. However, a similar survey was carried out by the Hong Kong brokerage CLSA Asia-Pacific Markets. The results of the survey showed that the manufacturing sector has been still registering a decrease for an eighth straight month. The sector show a fall from 45.1 in February to 44.8 in March.
Experts suggested that the official analysis can include larger companies and firms that are owned by the state, which have a better advantage from the fiscal stimulus package offered by the government. About 40 percent of China's economy is taken up by manufacturing, which was greatly affected by the continuously decreasing demand from customers in western countries.
China Federation of Logistics and Purchasing Short Profile
The goal of the Federation is to perform functions and tasks referred to materials management and purchasing industry service in the country. It is worth mentioning that People's Republic of China has already entered World Trade Organization. China Federation of Logistics and Purchasing employed new members from all over the country on the basis of liaison communication, coordination and service with the aim of facing new economic challenge and increasing the speed of connection of materials management with global industry.
