In July this year, the China Caixin Manufacturing Purchasing Managers Index (PMI) indicated a final reading of 50.8, down 0.2 percentage point compared to the final reading for June, 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, due to the new export order sub-index decreasing to the lowest level over the past two years, the Caixin China manufacturing PMI dropped to the lowest level over the past eight months. Meanwhile, market participants have been pessimistic towards prospect for the future manufacturing market. Against the background of slack demand and strict environmental protection policy, China’s manufacturing industry might face more challenges.
Meanwhile, as announced by China's National Bureau of Statistics (NBS), the purchasing managers' index (PMI) for China’s manufacturing sector was at 51.2 percent in July, down 0.3 percentage points compared to the previous month.