Chinese factory activity grows in June

An official survey showed that factory activity in China returned to expansion in June, with the Purchasing Managers' Index (PMI) reaching 50.3 after 50.0 in May, exceeding expectations and a growth threshold that is approaching a slowdown. The data highlighted increased demand for AI-related technology exports, despite a decline in retail sales and home prices. Meanwhile, the Chinese central bank issued instructions to increase lending in order to support waning domestic demand.

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