In January this year, the China Caixin Manufacturing Purchasing Managers Index (PMI) indicated a final reading of 48.3, down 1.4 points compared to the final reading for December, as announced by Beijing-based Caixin media group.
Zhong Zhengsheng, chief economist with China Economic and Business Monitor (CEBM), part of Caixin Insight Group, pointed out that a significant rebound has been seen in the new export order index, which reached its highest level since April 2018. Manufacturers also mentioned that overseas demand has improved.
Meanwhile, as announced by China's National Bureau of Statistics (NBS), the purchasing managers' index (PMI) for China’s manufacturing sector was at 49.5 percent in January, up 0.1 percentage point compared to the previous month.