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The growth of manufacturing activity in China eased in April but remained within expansion territory, adding to the confidence that the country’s economy is stabilizing.
The purchasing managers index for the country’s manufacturing sector came in at 50.1 in A
pril, slightly down from 50.5 in March, the National Bureau of Statistics said on Tuesday.
A reading above 50 indicates expansion, while one below it reflects contraction.
Senior NBS official Zhao Qinghe said in a statement that factory activity continued a steady ex
pansion in April, with the subindexes for production and for new orders standing respectively at 52.1 and 51.4. T
he readings are slightly lower than those in March, but they are higher than the average performance of the first quarter.
“Market demand is driving a stable growth in production,” Zhao said, adding strong growth in e
merging industries, such as high-tech and equipment manufacturing, also contributed to the steady performance.
JD Logistic, the logistics arm of the Beijing-based tech heavyweight JD
.com, will cancel the basic salary for delivery staff , CEO and Chairman Liu Qiangdong said i
n response to arguments on the company’s salary adjustments in an internal email sent on Monday.
JD Logistics lost over 2.3 billion yuan ($342.9 million) in 2018, its 12th consecut
ive year to lose money. If the situation continues, Liu said, the company would only last for two more years.
If internal settlements are deducted, JD Logistics lost more than 2.8 billion yuan last year.
The main reasons for the loss are few external delivery orders and high internal costs, Liu said.
The company has only two choices, according to Liu: one, increase external delivery orders to promote external inco
me growth; the other, reduce staff members’ well-being to the level of other express companies.
Reducing fund ratios to average levels and canceling the basic salary a
ims to encourage couriers to get more external delivery orders and increase revenue.