STORY: U.S. investor bullish about China's economic growth after industrial data
SHOOTING TIME: Recent footage
DATELINE: April 4, 2024
LENGTH: 0:02:43
LOCATION: NEW YORK, U.S.
CATEGORY: ECONOMY

SHOTLIST:
1. various of China
2. SOUNDBITE 1 (English): BRENDAN AHERN, Chief investment officer with U.S.-based asset management firm Krane Funds Advisors LLC
3. SOUNDBITE 2 (English): BRENDAN AHERN, Chief investment officer with U.S.-based asset management firm Krane Funds Advisors LLC
4. SOUNDBITE 3 (English): BRENDAN AHERN, Chief investment officer with U.S.-based asset management firm Krane Funds Advisors LLC

STORYLINE:

The latest economic data from China once again signals positivity, particularly in the manufacturing sector, which rendered overseas investors and entities bullish.
   
The figures included the nation's manufacturing PMI, non-manufacturing PMI, and comprehensive PMI output index, which stood at 50.8 percent, 53.0 percent and 52.7 percent respectively, with each climbing 1.7, 1.6 and 1.8 points.

Brendan Ahern, a U.S. veteran investor, said that China's manufacturing PMI surpassing expectations in March indicates accelerated economic growth following the Spring Festival.

SOUNDBITE 1 (English): BRENDAN AHERN, Chief investment officer with U.S.-based asset management firm Krane Funds Advisors LLC
"We received over the weekend the official March PMI. They actually greatly exceeded the 21 economists who submitted estimates that not one of the economists predicted that the PMIs would be this strong. So it greatly exceeded expectations.
Why that's important is that it shows that following Chinese New Year that you see this acceleration taking place in China's economy. And I think that's a very strong sign that government policies to help stimulate the economy are trickling down into the real economy. And I think that's a good sign for the Chinese economy. It's also a good sign for the global economy."

Ahern believes that China's economic development prospects will continue to improve, and thus benefit the world.

SOUNDBITE 2 (English): BRENDAN AHERN, Chief investment officer with U.S.-based asset management firm Krane Funds Advisors LLC
"China's economy, I think, is moving upward and forward and will only continue to improve. Consumers are starting to eat out more as well as travel more, both domestically as well as internationally. So we're seeing these kinds of green shoots that it's springtime. It's almost like just as it's springtime on the calendar, it's springtime for China's economy."

SOUNDBITE 3 (English): BRENDAN AHERN, Chief investment officer with U.S.-based asset management firm Krane Funds Advisors LLC
"We're seeing the continued upgrade in terms of Chinese manufacturing as well as increased self-sufficiency in many technologies that you're seeing many Chinese companies being very innovative in terms of becoming less reliant on foreign suppliers and actually doing that domestically. So we think that also is another tailwind for the Chinese economy. The world is a beneficiary, benefits from China's economic growth as well as China's exports."

Xinhua News Agency correspondents reporting from New York, U.S.
(XHTV)