China's giant manufacturing sector grew at its fastest rate in seven months in October, buoyed by new export orders, a private survey showed on Friday, adding to signs that the economy is stabilizing in the run up to a key government meeting on economic reform. China's official PMI released earlier in the day put manufacturing growth at 51.4, the highest in 18 months. The official PMI is weighted more towards bigger and state owned enterprises and tends to produce more favorable results than the private survey, which focuses more on smaller and private sector firms The HSBC survey showed a surprise jump in new export orders to 51.3, up from the initial reading of 50.8.
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