— This is the script of CNBC's news report for China's CCTV on June 20, Thursday.
Welcome to the CNBC Business Daily.
More signs that China's economy is weakening. HSBC flash Manufacturing PMI dropped to a 9-month low of 48.3 in June. That's much weaker than the 49.2 we saw back in May.
Overall new orders fell to its lowest in 10 months. So is the downtrend here to stay? We asked our panel of experts
Have a listen.
[Sound on tape: Frederic Neumann, MD & Co-Head of Asian Economics Research, HSBC: I think this is prove that there's a deceleration in the Chinese economy. The second quarter is going to come in below the first quarter and there's no end in sight because we haven't seen a clear signal policy makers are stepping up to support the economy.]
[Sound on tape Kingsley Jones, Founder & CIO, Jevons Global: On the PMI we thought it would be lower, maybe not as low as that, but we thought it was going to trend lower and it will probably will for the next couple of reads.]
[Sound on tape Pruksa Iamthongthong, Investment Manager, Aberdeen Asset Management Asia: If you look at the HSBC PMI flash numbers for example, i would be surprise if it comes up positive actually looking at what you know when we speak to companies on the ground, things are still looking tough out there, if you look that HSBC PMI does is with the SMEs, the smaller private enterprises and what we hear is it is still pretty tough out there.]
[Sound on tape by Nick Verdi, Director, FX Strategy Asia Pacific ex-Japan, Barclays: The authorities clearly don't want to stimulate whether on the fiscal front or whether it's on the monetary front given that they are allowing 7 day repo rate for example to continue not offering any liquidity here.]
Li Sixuan, from CNBC's Asia headquarters.