China's factory PMI rises to 50.2

China's Federation of Logistics and Purchasing has released the official figures for China's factory purchasing managers' index, which witnessed growth in October.

The latest data shows PMI rose to 50.2 percent in October from 49.8 in September, signifying growth in the economy. It suggests China's manufacturing sector may be starting to show signs of recovery after shrinking for 12 successive months. Analysts say the new figures partly reflect the boost in domestic consumption over the National Day holidays.

China's economy is projected to rebound after the 18th National Party Congress, with many local governments investing in projects even before the central government announces its plans.