China's factory activity expands at a slower pace in July- official PMI

China's factory activity expanded at a slower pace in July due to higher raw material costs, equipment maintenance and extreme weather, adding to concerns of a slowdown in the world's second-biggest economy.

The official manufacturing Purchasing Manager's Index (PMI) eased to 50.4 in July from 50.9 in June, data from the National Bureau of Statistics (NBS) showed on Saturday, but remaining above the 50-point mark that separates growth from contraction.