China manufacturing rise two-year high

Private and official surveys show that China`s factory activity rose to a two-year high last month, suggesting the world`s No. 2 economy is stabilising.

The Caixin monthly purchasing managers` index released Tuesday rose to 51.2 in October from 50.1 the previous month as production grew at its fastest in more than five years on strong domestic demand.

A similar index by the official Chinese Federation of Logistics & Purchasing also increased to 51.2 last month from 50.4 in September.

Both indexes are at their highest since July 2014. They are based on 100-point scales on which the 50 mark separates expansion from contraction.

In another hopeful sign for China`s economy, the official non-manufacturing PMI ticked up to 54.0 last month from 53.7 previously, according to AP.