China media group to sponsor key PMI economic indicator

Chinese media group Caixin will take over sponsorship of a key economic indicator previously funded by British banking giant HSBC and which has frequently contradicted official figures, it said Tuesday. The China Purchasing Managers' Index (PMI), compiled by financial information services provider Markit, tracks activity in factories and workshops and is a closely watched barometer of the health of manufacturing in the world's second-biggest economy. The release will be renamed the Cai