China’s factory activity expanded at the fastest pace this year in May as domestic and export demand picked up, though sharp rises in raw material prices and strains in supply chains crimped some companies’ production, a business survey showed on Tuesday.The Caixin/Markit manufacturing purchasing managers’ index (PMI) rose to 52.0 last month, the highest level since December and inching up from April’s 51.9.Analysts polled by Reuters had expected the index to remain at 51.9. The 50-mark…



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