00:00China's economy is showing some signs of steady recovery, but the rebound is still on shaky ground.
00:06Factory activities saw their best performance of the second quarter in June,
00:10despite staying in contraction for a third straight month,
00:13as China grapples with weak demand and ongoing trade war with the US.
00:19Data from the National Bureau of Statistics showed Manufacturing Purchasing Managers Index
00:24PMI reached 49.7 in June from 49.5 in May, marking the second consecutive monthly uptick,
00:32while the non-manufacturing index hit 50.5 in June, also up 0.2 points from the previous month.
00:40A PMI reading above 50 indicates expansion, while below 50 reflects contraction.
00:45These modest improvements came after Beijing and Washington moved to de-escalate their tariff war in mid-May.
00:51So far, Chinese exports have remained resilient,
00:55with front-loading and stronger shipments to alternative markets, offsetting a drop in US demand.
01:01But the world's second-largest economy still faces major challenges,
01:05including a prolonged property slump and persistent deflationary pressure.
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