Xinhua world economic news summary at 0900 GMT, Feb. 28

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WASHINGTON -- The Committee for a Responsible Federal Budget, a nonpartisan watchdog group, said Saturday that the House-approved 1.9-trillion-U.S.-dollar COVID-19 relief bill includes measures not directly related to the pandemic, urging the Senate to pass a better targeted one.

Commenting on the giant relief bill that cleared the House early Saturday morning, Maya MacGuineas, president of the watchdog group, said in a statement that while some of the funds would go to key priorities, it is clear that the targeting of this bill could be improved. (US-Coronavirus-Relief)

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BEIJING -- The purchasing managers' index (PMI) for China's manufacturing sector came in at 50.6 in February, edging down from 51.3 in January, data from the National Bureau of Statistics showed Sunday.

A reading above 50 indicates expansion, while a reading below reflects contraction. The PMI remained in expansion zone for the 12th consecutive month. (China-PMI)

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BUENOS AIRES -- Argentina is beginning to show signs of recovery in foreign trade after registering a favorable balance in January, an economist has said.

The growth in both exports and imports is "very good news that indicates a rebound in foreign trade," said Julia Segoviano, an economist from the financial consultancy group Labour Capital and Growth. (Argentina-Foreign Trade-Recovery)

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ROME -- The top finance officials from the world's major economies have emerged from Friday's summit with agreement to commit to a more multilateral process aimed at stemming the spread of the coronavirus pandemic and sparking global economic growth.

Friday's virtual summit of finance ministers and central bank governors was the first major event of Italy's year-long presidency of the Group of 20, or G20, a forum representing the world's major economies. (Italy-G20-Economic Growth) Enditem

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