The China Caixin manufacturing Purchasing Managers’ Index (PMI) climbed in December, marking its fastest rate of improvement in three years, figures released Tuesday showed.
In December, the Caixin PMI reading came in at 51.9, up from November’s 50.9. A reading above 50 indicates expansion, while a reading below signals contraction.
That compared with China’s official manufacturing PMI, released Sunday, coming in at 51.4, down slightly from November’s 51.7.
The official non-manufacturing PMI, which takes a reading on the services sector, came in at 54.5 in December, down from November’s 54.7.
The official figures tend to focus on larger companies, while the private Caixin data focus on smaller and medium-sized firms.
The data likely indicated that the mainland economy, which had been expected to slow, was stabilizing.
« A further rise in production at Chinese manufacturers supported the higher PMI reading in December. Notably, the rate of output growth accelerated to a 71-month high, with a number of panelists commenting on stronger underlying demand and new client wins, » the Caixin data statement said.
« Data indicated that improved domestic demand was the key driver of new business growth, however, as new export sales were unchanged in December.  »
While the manufacturing PMI data tends to be more closely watched, China’s pivot toward domestic consumption and away from manufacturing- and investment-led growth means the service sector, which includes consumer industries such as real estate, retail and leisure, has become the majority of the mainland economy. It is also a key barometer of consumption, accounting for more than 50 percent of gross domestic product (GDP).
Concerns have persisted over the mainland economy’s health, as private-sector debt has surged even as the amount of growth from additional debt has declined.
But the economy in recent months has received a fillip from a pickup in the property sector.
The surprise win by U. S. President-elect Donald Trump has also been a concern for the mainland’s export-oriented economy.
On the campaign trail, Trump repeatedly accused China of manipulating its currency in order to give its exports an advantage over U. S.-made goods, and he threatened to slap a tariff of up to 45 percent on Chinese imports.
On Tuesday, he upped the ante on anti-China rhetoric , saying via Twitter that « China has been taking out massive amounts of money & wealth from the U. S. in totally one-sided trade, but won’t help with North Korea. Nice.  »
But the latest Caixin data showed that the new export orders index was at the neutral 50.0 level, with 90 percent of the survey’s respondents saying there was no change in new business from overseas.
« A number of panelists commented on relatively muted foreign demand in the latest survey period, » the survey statement said.
But it wasn’t clear how sustainable the manufacturing pickup might be.
Dr. Zhengsheng Zhong, director of macroeconomic analysis at research firm CEBM, said in the Caixin statement that the mainland’s manufacturing economy continued to improve, but he added, « it is still to be seen if the stabilization of the economy is consolidated due to uncertainties in whether restocking and consumer price rises can be sustainable.  »
Other economists were also doubtful of the sustainability of the pick up.
Andy Xie, an independent economist and former managing director at Morgan Stanley, told CNBC’s  » Squawk Box  » on Tuesday that he wasn’t optimistic the bump up could be sustained.
« Industrial production has been on an upswing for about six months or so, mainly because of the surge in property sales last year. Property developers and local governments got money and they’ve been spending the money, » he said, noting that for the past several years, every economic cycle has been driven by the property market.
« It usually doesn’t last very long, » he said.
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The Latest on President-elect Donald Trump (all times EST):
10:45 p.m.
A state-run Chinese tabloid says Donald Trump is « pandering to ‘irresponsible’ attitudes » after the U. S. president-elect accused China of not stepping in to curtail the North Korean nuclear program.
The Global Times newspaper says Pyongyang’s nuclear program « stokes the anxieties of some Americans » who blame China rather than looking inward.
The Communist Party-controlled newspaper published its report a few hours after Trump tweeted Monday that China « won’t help with North Korea.  »
China is North Korea’s principal ally and economic lifeline. While Beijing has publicly reprimanded Pyongyang after nuclear tests, critics say China hasn’t done enough to tighten economic pressure on North Korea.
Since winning the November election, Trump has repeatedly criticized China. He also spoke to the president of Taiwan, the self-governing island China considers part of its territory.
—
8:55 p.m.
President-elect Donald Trump is expected to nominate lawyer Robert Lighthizer as U. S. Trade Representative, according to a transition official.
Lighthizer served as deputy USTR under President Ronald Reagan. His responsibilities included industry, agriculture, investment and trade policy, according to his law firm biography.
Trump made trade a central issue in his campaign, vowing to pull out of a major Pacific Rim trade pact. He has said he prefers unilateral trade deals that he says would lead to more favorable conditions for U. S. businesses and workers.
The transition official was not authorized to publicly confirm Trump’s expected decision and insisted on anonymity.
— Julie Pace
—
6:30 p.m.
Donald Trump insists North Korea won’t develop a nuclear weapon capable of reaching the United States.
Trump addressed the issue Monday evening on Twitter. North Korean leader Kim Jong Un said Sunday in his annual New Year’s address that preparations for launching an ICBM have « reached the final stage.  » He did not explicitly say a test was imminent.
Trump tweeted: « North Korea just stated that it is in the final stages of developing a nuclear weapon capable of reaching parts of the U. S. It won’t happen!  »
It was unclear if Trump meant he would stop North Korea or he was simply doubting the country’s capabilities. His aides did not immediately respond to questions seeking clarification.
Trump then berated North Korea’s most important ally, tweeting: « China has been taking out massive amounts of money & wealth from the U. S. in totally one-sided trade, but won’t help with North Korea. Nice!  »
—
2:10 p.m.
President-elect Donald Trump is showing little sign of forgiving his critics as he prepares to move into the Oval Office.
The incoming president tweeted Monday that, « Various media outlets and pundits say that I thought I was going to lose the election. Wrong…  »
He continued: « I thought and felt I would win big, easily over the fabled 270 » electoral votes.
Trump’s continued focus on his unexpected Nov. 8 victory comes as he works behind closed doors to shape his new administration. He’s set to be sworn into office in just 18 days.
Trump also complained Monday about a cover photo used in a new book released by CNN. He tweeted, « Hope it does well but used worst cover photo of me!  »
—
1 p.m.
President-elect Donald Trump says Rahm Emanuel, Chicago’s mayor and President Barack Obama’s former chief of staff, should ask for federal assistance if he can’t bring down the city’s rising homicide tally.
The nation’s third largest city had 762 homicides in 2016 — the most in two decades and more than the largest cities, New York and Los Angeles, combined. The Chicago Police Department says the city had 1,100 more shootings last year than in 2015. The statistics have put Chicago at the center of a national dialogue about gun violence.
Trump on Monday noted the spike in shooting deaths on Twitter. He wrote, « If Mayor can’t do it he must ask for federal help!  »
Emanuel’s spokesman Adam Collins responded with a carefully worded statement in which he says if the federal government really wants to help it can do things like fund summer jobs programs for at-risk youth and pass meaningful gun laws.
—
8:10 a.m.
Incoming White House press secretary Sean Spicer is defending cryptic comments by President-elect Donald Trump that he knows « things that other people don’t know » when it comes to allegations of Russian hacking.
Spicer tells Fox News Channel’s « Fox & Friends » that Trump is getting national security briefings « on a daily basis » and « there doesn’t seem to be conclusive evidence » Russians were behind the hacking of Democratic emails during the election.
Spicer also dismissed on Monday a report released by the FBI and Homeland Security Department supporting the accusations against Russia, calling it a « how-to » manual on basic cybersecurity for Democrats.
In an interview on NBC’s « Today Show, » Spicer said President Barack Obama only punished Russia after Democrat Hillary Clinton lost the election and that the recent sanctions were politically motivated.
Trump has said he will get a briefing from U. S. intelligence officials this week.

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NEW YORK , Jan. 2, 2017 /PRNewswire/ — During 2016 New Year’s Eve , Hong Kong -headquartered Chateau Segonzac International Group Co. Ltd. announced the start of international Winery mergers and acquisition fund in the United States .
A commercial wine trading group has recently been broadcasted on the giant NASDAQ LED billboard in the Times Square in New York City. Chateau Segonzac became another Chinese business holding company, following the Chinese e-commerce giant Alibaba and Sina.com among others, to promote businesses on the billboard. Segonzac is also China’s first wine trading and investment company to appear on the NASDAQ billboard.
The globalization and mergers of excellent wineries are considered to be the best mix of wine trade and investment, and this is the first step of Chateau Segonzac for the international expansion. Segonzac said it hoped to take this opportunity to bring its Sino-French-made wine into the U. S. market, which will be an important part of Segonzac’s worldwide business network, while it is also looking for high-quality wineries in the United States for merging. The move also opened a new chapter in the world wine culture yearbook.
International merging, a win-win move
Although Chinese enterprises in recent years have accelerated their international expansion process, Chinese wine dealerships have yet to expand their business overseas. Nevertheless, China’s wine market has become an integral part of the world’s wine businesses. Segonzac aims at integrating the world’s wine market through merging with high-quality overseas wineries.
« Our goal is to create added value for capital venture and investment fund, by building a bridge among investors, wine producers and consumers, » said Mr. Kelvin Li, executive president of Chateau Segonzac International Group. Mr. Li said all wineries his company has purchased are of high quality. Mr. Li said his company is also dedicated to introducing world-class yet affordable wine to Chinese consumers.
Segonzac has proposed « Fund to Business to Customer », a concept that details the relationships among venture capital, wine producers and consumers in wine business. « Investors need returns, wine producers need a sale channel and consumers need to have as many choices as possible, and this is what Chateau Segonzac International is dedicated on , » said Mr. Li. « It serves as a giant platform to connect investors, producers and consumers « , by bringing more high-quality wine worldwide to consumers. Segonzac aims to integrate wine culture with venture capital, creating a new path of development for the wine dealing business.
About Chateau Segonzac
Founded in 1887, the Bordeaux -based Chateau Segonzac is one of the oldest chateaus in France. It possesses a 40-hectare vineyard, on which world-famous grapes, such as Cabernet Sauvignon, Merlot and Malbec, have been grown for years. Two brands of wine produced in the winery are among the favorites in consumers worldwide.
About Chateau Segonzac International Group Co. Ltd
Chateau Segonzac International is set up in Hong Kong , originally focused on acquiring the French winery and launch of ongoing Winery investment fund. The Hong Kong -headquarter is jointly funded by Austchi Dragon and a number of other Hong Kong and Mainland China enterprises. Austchi Dragon was registered in Australia in 2004 and it set up its Chinese branch in Shenzhen in 2007. The Shenzhen company is authorized traders for a number of famous wine brands in Australia and France. The company is looking to purchase more high-quality wineries worldwide, including the United States and Italy , in 2017.
Please contact our commercial business department for cooperation with Segonzac and its regional agents across China , or with the global wineries fund.
Contact: Kelvin Li
Tel: 86 136 0300 1629
WeChat: Q7737977
Email: ceo@aust-chi.com
SOURCE Chateau Segonzac International Group Co. Ltd.

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A novel take on the humble steamed bun is taking Hong Kong’s culinary scene by storm, and scooping up awards for its creator.
May Chow is reinventing the bao – usually filled with meat or fish – and has just been voted Asia’s best female chef by a panel of over 300 experts.
Reporting: Helier Cheung. Video journalist: Yashan Zhao

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