China’s PMI falls in September

China’s manufacturing index fell below 50 in September to 49.6, down from 50.1 the previous month.

Power outages and more activity in reducing carbon emissions are cited as the reason. In recent months, the Chinese government had put steel producers under pressure to cut greenhouse gas emissions. The steel and cement industry is considered one of the largest main producers of carbon emissions in China.

Manufacturing activities are thus running at the lowest level since the start of the pandemic.

The global energy crisis has long since stopped in China. According to statements, power outages are shutting down many production facilities. The Chinese government has already ordered the energy producers to do everything possible to avoid power outages.

Meanwhile, the highly indebted Evergrande Group has started construction work again at some sites. Open construction projects are to be completed, according to Beijing.

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