ic demand, China faces a harsher situation on the export front.

The subindex for new export and import orders respectively stood at 47.1 an

d 48.7, both below the 50 mark, indicating easing growth of the world economy.

Despite the external challenge, Bank of China economists said in a report released on

Thursday that as the effect of the country’s supportive policies starts to surface, the world’s second-largest eco

nomy may stabilize, with its GDP growth picking up to 6.3 percent in the second quarter from 6.2 percent in the first.

The NBS also said on Sunday that China’s non-manufacturing PMI rose to 54.8 in March, up from 54.3 in February.

The subindex measuring business activity in the service industry stood at 53.6, up from 53.5 in February.

The composite PMI, which covers manufacturing and services activity, rose to 54 from February’s 52.4, according to the NBS.