China manufacturing activity in January close to 2-year high

A survey shows Chinese manufacturing expanded in January at close to its fastest pace in two years.

The National Bureau of Statistics' purchasing managers index released Wednesday showed manufacturing growth at 51.4 on a 100-point scale on which numbers above 50 indicate an expansion. That was down only slightly from November's two-year high of 51.7.

The survey added to indications Chinese economic growth held steady heading into 2017, supported by government spending and a boom in real estate sales.