Balanced News: China’s factory activity grows further, marks its highest reading in nearly 11 years

China’s factory activity grew further in February, marking its highest reading in nearly 11 years. The Chinese onshore yuan stood at 6.9325 against the U.S. dollar while the offshore yuan strengthened 0.15% to 6.9480 against the greenback. China Beige Book’s chief economist Derek Scissors expects to see an improvement in consumption later this year, buoyed by any announcements from the upcoming National People’s Congress meetings.