MNI BRIEF: China Manufacturing Outpaced Economy In August

China’s manufacturing sector outpaced the broader economy in August, with sales revenue growth 1.5 percentage points higher than the nationwide average, according to a notice released Tuesday by the State Taxation Administration. 

Manufacturing accounted for 30.7% of total enterprise sales revenue, helping to further consolidate the economic foundation, the ministry said. Service consumption remained robust, with revenue from travel agency services and leisure sightseeing up 10.3% and 16.9% year-on-year, while catering delivery climbed 9.3%.

The need for Beijing to deploy additional large-scale stimulus such as extra special treasuries this year is fading as the economy stays on track to meet its 5% growth target, experts told MNI. (See MNI: China's Fiscal Expansion Needs Decrease)