In August this year, the China Caixin Flash Manufacturing Purchasing Managers Index (PMI) decreased to 47.1, down from the Caixin PMI final reading of 47.8 for July and constituting the lowest level since March 2009, as announced by Beijing-based Caixin media group on August 21.
According to Dr. He Fan, chief economist of Caixin media group, the Caixin flash PMI in August indicates that China’s economy is still in the process of bottoming out, while he suggested the Chinese government should continue fine tuning its fiscal and monetary policies to ensure China’s macroeconomic stability amid the systematic risks faced by domestic manufacturing industries.