PMI rise signals success of govt support policies

Manufacturing activity strongest in 26 months, but employment lags

The Chinese economy may have touched bottom last month as manufacturing activity reached a nearly two-year high, suggesting that government support policies are having the desired impact.

The official manufacturing Purchasing Managers Index, a widely watched indicator, rose to 51.7 in July from 51.0 the previous month, the China Federation of Logistics and Purchasing announced on Friday.