The number of monthly mobile active users

The manufacturing Purchasing Managers’ Index, which measures vitality in the manufacturing sector, dipped last month to 51.3 from December’s 51.6.

The reading was below market expectations for 51.6 but remained above the 51 mark for the 16th consecutive month.

A reading above 50 indicates expansion, and below 50 contraction. The manufacturing PMI has been in positive territory for 18 straight months in a
row.

The non-manufacturing PMI rose for the third consecutive month to reach 55.3 in January, up from December’s 55.

A general PMI, published for the first time to cover both manufacturing and services industries Authentic Corey Dickerson Jersey , was flat at 54.6, as data showed the December reading would have read the same.

The new index was introduced to better track the economy as the border between the manufacturing and services sectors has become more ambiguous.

While old indexes will remain, the new gauge will “provide a new perspective to monitor the macro-economy, and enrich and improve the current PMI system,”
the bureau said, adding that it has undertaken more than two years of research
and testing.

The mechanism in compiling the index is in line with global practices Authentic Colby Rasmus Jersey , it said. Its use will make economic activity in China more comparable on a global level.

“As of December, countries and regions including the eurozone, the United States, Britain, Germany and Japan have compiled and published such an index,”
the bureau said.

Zhao Qinghe Authentic Chris Archer Jersey , a senior statistician of the bureau, said business activity of companies in China continues to maintain stable growth at a
relatively fast rate, with the services sector outpacing manufacturing.

Growth in demand moderated as some industries approach the low season, but the consumer goods sector accelerated ahead of the Spring Festival, Zhao said.

January’s sub-index for production fell to 53.5 from December’s 54, and new orders fell to 52.6 from 53.4. Sub-indexes for raw material inventory Authentic Alex Cobb Jersey , employment and suppliers’ delivery time were still lower than 50.

Businesses saw easing pressure from rising operating costs in January, and export growth softened as overseas demand fell after the Christmas and New Year
holidays, Zhao added.

PMI for the consumer goods sector was 52.7, 0.3 points higher than December and 1.8 points higher than January 2017.

China’s economy is shifting to a consumption-led growth model to wean itself off reliance on exports and investment. Consumption contributed to 58.8 percent
of economic growth last year.

Meanwhile, expansion in services industries was led by retail, air transport Authentic Adeiny Hechavarria Jersey , broadcasting, Internet and financial services.

Economists at Bank of Communications, in a note, attributed the lower manufacturing PMI to seasonal reasons but warned about possible trade volatility
as new export orders fell below 50 for the first time in 16 months.

The note said manufacturing activity and trade may remain cool this month due to the Spring Festival, whereas activity may rebound after March to show the
continuous momentum in the domestic and external demand.

Alibaba's quarterly profit jumped 35 percent to 24.07 billion yuan (US$3.7 billion) as the company tapped booming e-commerce sales and other initiatives.

The e-commerce giant said today that it has also agreed to buy newly-issued equity from its financial affiliate Ant Financial to hold a 33 percent stake in
the latter.

E-commerce income jumped 57 percent to US$11.3 billion in the three months ended December last year and total year-on-year revenue growth surged 56 percent
to US$12.8 billion, Alibaba said.

Gross merchandise volume of physical goods sold on the business-to-consumer site Tmall jumped 43 percent from a year ago Wilson Ramos Jersey , as major consumer goods, electronics and luxury brands have established flagship stores on the site.

Alibaba is also increasing its 2018 fiscal year revenue guidance to 55-56 percent, up from its previous estimate of 53 percent annual increase.

“Our core business generated significant cash flow of US$7.1 billion during the quarter, enabling us to invest in new retail, cloud computing, digital
entertainment and globalization Wade Boggs Jersey ,” said Chief Financial Officer Maggie Wu.

Alibaba has also been expanding to offline retail in a bid to synergize business to combat rival Tencent Corp. Alibaba and an affiliate invested in a 36
percent stake in Sun Art Group Ltd in November to accelerate expansion of its
new retail initiative nationwide.

Income related to its new retail initiatives jumped over six times thanks to business synergy through various partners.

The number of monthly mobile active users of its consumer retail services grew by 31 million from three months ago to 580 million by the end of 2017.

Cloud computing revenue surged 104 percent from a year ago to US$553 million as it furthers artificial intelligence initiative to help enterprise clients
raise operational efficiency and adopt data technologies.

PhotoSina
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