China's manufacturing sector shows growth, boosting economic outlook

China's factory activity expanded for the first time in six months, with a March manufacturing PMI of 50.8, up from 49.1 in February. Industrial profits hit a 25-month high in January-February. Citi revised its 2024 GDP growth estimate to 5%. Non-manufacturing PMI rose to 53 in March. President Xi Jinping met US CEOs. Export orders and imports increased significantly. ING highlighted the need for more supportive policies for sustained recovery.