China factory activity unexpectedly cools in April (3 min read)
China’s manufacturing activity shrank in April for the first time since December, raising concerns about the country’s economic recovery from the pandemic. The contraction was driven by weak global demand, slowing prices, and high bank savings, which reduced the demand for factory output. The government and the central bank have taken steps to boost economic growth, such as cutting interest rates, offering subsidies, and facilitating visas for overseas businesspeople.