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China's manufacturing activity expanded for the 13th consecutive month in August, providing fresh evidence of a firming Chinese economy.
China's economic growth slowed to 6.2 percent in the second quarter, its weakest pace in at least 27 years, with demand faltering at home and abroad amid ongoing trade frictions with the United States.
China's efforts to transform the country to a more consumption and service-driven economy is well under way, said Yasuyuki Sawada, ADB's chief economist.
China's measures will not only lift the role of the national economy as the world factory and market, but also ease pressure on multinationals and add stability to the global supply chain, as well as boost the global economy, he said. The ministry said local governments have been working to support work resumption in key industries. Nearly all key foreign companies in the traditional export-oriented provinces and cites such as Shanghai, Zhejiang, Jiangsu and Guangdong have resumed operation.
China's local government debt soared during an investment and construction binge following the global financial crisis in 2008. Well aware of the risks, authorities have taken an array of measures to reduce the local debt burden.
来源：资阳报