Data collected from all over the country has pointed out that the manufacturing rate in China grew at a much faster pace in October as compared to the months which have gone by, in addition to a growing number of export orders. This has been another proof of the fact that the country is fast recovering from the economic downfall which had affected nations globally.

As per the figures revealed, manufacturing in China grew at the fastest pace in October than it had in the past 18 months. The data, which has given China a reason to celebrate, was collected in the Purchasing Managers' Index and released by HSBC Holdings Plc.

“The ongoing strong recovery in the manufacturing sector should gain further momentum in the coming months,” said Qu Hongbin, Chief China economist at HSBC in Hong Kong.

After the figures were made public, the Shanghai Composite Index saw a 0.1% rise. The reported PMI growth of 55.4 points for October was the highest that the country had seen since April 2008. Last month's figures stood firm at 55 points.