According to the National Bureau of Statistics (NBS) on January 31, the Manufacturing Purchasing Managers′ Index (PMI) of China stood at 49.3% in January, a decrease of 0.8 percentage points from the previous month, indicating a mild easing in the prosperity level of the manufacturing sector.

Huo Lihui, Chief Statistician of the Service Industry Survey Center of the National Bureau of Statistics, stated that in January, some manufacturing industries entered the traditional off-season, and coupled with the still insufficient effective market demand, the manufacturing PMI came in at 49.3%, a decline from the previous month. The overall performance featured five aspects.

First, corporate production continued to expand. By industry, both the relevant indices of the petroleum, coal and other fuel processing, and automobile industries fell below the critical point, with slowing market demand and a moderate pullback in corporate production in these sectors. Second, price indices rebounded across the board. The purchasing price index for major raw materials and the ex-factory price index reached 56.1% and 50.6% respectively, up 3.0 and 1.7 percentage points from the previous month, reflecting an improvement in the overall price level of the manufacturing market. Third, the PMI for large enterprises remained above the critical point. Coming in at 50.3%, the PMI for large enterprises continued to play a supportive role in the manufacturing sector. Fourth, the high-tech manufacturing industry maintained its leading growth momentum. The PMI for high-tech manufacturing hit 52.0%, showing a sustained sound development trend in related industries. Fifth, corporate expectations remained upbeat. The expected index of production and business activities stood at 52.6%, remaining above the critical point.