Business

China’s Economic Recovery Continues To Gain Momentum

Published

5 years ago

July 3, 2020

John Okeke

China’s manufacturing Purchasing Managers’ Index (PMI) for June stood at 50.9 percent, up 0.3 percentage points from May, according to data jointly released on June 30 by the National Bureau of Statistics (NBS) and the China Federation of Logistics and Purchasing (CFLP).

The figure has been kept above 50 percent for four consecutive months, indicating that the country’s economic recovery continued to gain momentum with constantly enhanced stability of industrial chains.

Among the 13 sub-indices, those for production, new orders, new export orders, existing orders, purchase quantity, import, purchase price, producer price, and raw materials inventory rose 0.3 to 7.3 percentage points from the previous month in June, while the sub-index for supplier delivery time remained unchanged over the previous month.

Besides, sub-indices for finished goods inventory, employee, and production and business activities expectation dropped 0.3 to 0.5 percentage points from May.

The slight rise in the PMI in June above the 50-point mark which indicates economic expansion showed that China has accelerated its economic recovery, according to Zhang Liqun, a researcher with the Development Research Center of the State Council.

A series of policies have been implemented after the annual sessions of China’s top legislature and political advisory body in May to keep employment, the financial sector, foreign trade, foreign and domestic investments, and expectations stable and ensure security in job, basic living needs, operations of market entities, food and energy security, stable industrial and supply chains, and the normal functioning of primary-level governments, Zhang noted.

Together with the previous policies rolled out to promote work and production resumption, these macro policies delivered more visible results, Zhang added.

Fiscal and monetary policies’ role in expanding domestic demand should be strengthened to further sustain the positive momentum of economic recovery.

China saw a recovery of market demand in general and growing driving forces for economic development. The country’s economy continued to recover with stable growth in consumer last month.

Sub-index for new orders stood at 51.4 percent, up 0.5 percentage points from May, while that for new export orders grew 7.3 percentage points from the previous month to 42.6 percent, with the decline in export significantly narrowing.

The recovery of market demand will further drive economic growth and business operation.

Production activities of enterprise rebounded, leading to an increase in raw material purchases. In June, sub-index for production was 53.9 percent, up 0.7 percentage points from the previous month and maintained above 53 percent for four months in a row.

More production activities drove enterprises’ demand for upstream products in the industrial chain. As a result, the purchase of raw materials increased accordingly, and the sub-index for purchase quantity rose 1 percentage point from May to 51.8 percent.

Meanwhile, prices in the whole sector picked up in a more coordinated way. Last month, driven by the rapid growth of enterprises’ purchase quantity, prices of basic upstream raw materials continued to rise on the basis of the previous month. The sub-index for purchase price grew 5.2 percentage points from May to 56.8 percent, while that for producer price rose 3.7 percentage points from the previous month to 52.4 percent, exceeding the 50-point mark for the first time this year.

The PMI indicated that the Chinese economy recovered gradually from March after some fluctuations early this year due to the COVID-19 epidemic, said Wen Tao, an analyst with the China Logistics Information Center.

In Q2, both the production and market demand saw a rapid recovery. The average sub-indices for production and new orders were 53.6 percent and 50.8 percent, respectively, which were above the 50-point mark and higher than that of Q1 and the same period last year.

Besides, purchasing activities and employment recovered significantly in Q2, with index readings higher than that of Q1 and the same period last year.

By the end of the first half of this year, China’s economic recovery continued to gain momentum with continuously enhanced stability of industrial chains, laying the foundation for a stable start in the second half of the year.

The non-manufacturing PMI, also released by the NBS and CFLP on June 30, edged up 0.8 percentage points from May to 55.4 percent in June. Except for non-manufacturing PMI sub-indices for supplier delivery time and for production and business activities expectation, which were down 0.8 percentage points and 3.6 percentage points, respectively, other sub-indices all grew 0.1 to 2.0 percentage points from May.

Cai Jin, CFLP vice president, said China’s non-manufacturing PMI has been picking up on a month-on-month basis since Q2, indicating a good recovery momentum of the non-manufacturing sector.

Changes in the sub-indices for non-manufacturing PMI showed that China saw a sound momentum for steady economic recovery as most industries recovered growth. In the second half of this year, the country needs to promote economic transformation, expand domestic demand and strengthen the endogenous dynamism of economic recovery to ensure continuous and sound economic growth.

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Business

FG, Investonaire Academy Unveil National Programme to Equip 100,000 Youths with Financial Skills, Digital Wealth Tools

Published

5 days ago

November 25, 2025

The Gleamer

By Joel Ajayi

The Federal Government, in collaboration with Investonaire Academy, has unveiled a nationwide financial literacy and wealth-building programme targeting more than 100,000 young Nigerians. The initiative is designed to equip participants with practical skills in budgeting, saving, investing, asset building, and long-term financial planning, positioning them for sustainable prosperity in a rapidly evolving economy.

Launched on Tuesday in Abuja, the Honourable Minister of Youth Development, Comrade Ayodele Olawande, described financial literacy as a necessary survival tool for young people confronting today’s economic realities.

He noted that the initiative represents the foundation of a broader vision expected to extend beyond Nigeria to other African nations and global markets.

Reaffirming the Federal Government’s commitment to supporting over 4,000 corps members annually, the Minister said the programme will provide platforms, resources, and skills needed for both job creation and employability.

“The young people who understand money — how to save, invest, build assets, and manage risk — are the ones who will lead Nigeria into prosperity,” he said.

A major highlight of the launch was the expansion of the Nigeria Youth Academy, a digital platform offering mentorship, training, and startup support. According to the Minister, more than 200 startups will receive empowerment through the Academy’s e-app platform before the end of the year.

He stressed the need for deeper collaboration with private organisations, innovators, and youth-focused groups, noting that government alone cannot drive youth development. He further encouraged young Nigerians to embrace skills acquisition, innovation, and digital enterprise, saying these remain critical to reducing the desire for migration and increasing self-reliance.

Outlining the Ministry’s long-term commitments, Olawande emphasized three priorities: supporting youth innovation, equipping them with growth tools, and safeguarding millions of Nigerian youths under the Ministry’s mandate.

Speaking at the launch, Sebastien Sicre, Chief Operating Officer of Investonaire Academy, said the programme was crafted to revolutionize the way Nigerian youths learn and apply financial knowledge. He highlighted the Academy’s gamified Learning Management System (LMS), which offers interactive learning tools, community forums, and real-time mentorship to make financial education engaging and accessible.

Complementing the digital platform is a new 200-square-metre physical training centre in Abuja, opposite the NNPC Towers, where in-person workshops and mentorship sessions will take place.

The curriculum covers key global asset classes — including equities, commodities, forex, and indices — ensuring participants gain a broad understanding of financial markets.

Sicre added that with Federal Government backing, the programme seeks to unlock new opportunities, strengthen youth participation in the digital economy, and reward outstanding participants through a $1 million funding pool to support new and existing ventures.

International Programme Director of Investonaire Academy, Dr. Enefola Odiba, explained that the initiative aims to bridge long-standing gaps in financial education among Nigerian youths. While schools teach many subjects, he said, essential financial skills are often missing.

“Many people can earn money — earning money can be easy. The real challenge is retaining, managing, and growing that money,” he noted.
Referencing the Central Bank of Nigeria’s definition of financial literacy, Odiba stated that implementation remains a major national challenge. He said the initiative brings together government agencies, youth groups, academic institutions, and private-sector partners to translate strategy into measurable impact.

The programme’s curriculum covers budgeting, saving, investing, and financial planning — areas where many young people struggle. By offering practical training, real-world insights, and guided mentorship, the initiative aims to build a generation of financially empowered youth capable of driving innovation, entrepreneurship, and sustainable economic growth.

With this partnership, the Federal Government and Investonaire Academy share a common goal: to empower young Nigerians with the financial intelligence and digital tools needed to build wealth, grow businesses, and transform the nation’s economic future.

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