BEIJING, March 1 ― China's factory activity unexpectedly expanded in February as new orders improved, pointing to some resilience in the world's second-largest economy even as downward pressure builds and Russia's invasion of Ukraine heightens global uncertainty.
Policymakers have vowed to stabilise growth this year and all eyes are on the annual meeting of its top legislative body that begins on March 5 during which the government will unveil economic targets for the year and likely more stimulus measures. New orders grew for the first time since August last year, as demand improved following the Lunar New Year holidays. However, the growth in production slowed, with a sub-index standing at 50.4, compared with 50.9 in January.
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