Industrial activity in China has reached its busiest level since last January, according to the preliminary version of HSBC's purchasing managers' index and following rapid credit growth in the highly leveraged economy.
The "flash" version of the bank's China PMI reached a reading of 52 for July.
A reading above 50 in this survey indicates respondents' business is growing. The index showed the nation's industrial base contracted for the first five months of 2014, before turning expansionary last month.
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