In March this year, the China HSBC Flash Manufacturing Purchasing Managers Index (PMI) decreased to 48.1, the lowest level of the past eight months, down from February's final reading of 48.5, as announced by the HSBC on March 24.
Hongbin Qu, the HSBC's chief economist for China, said that the HSBC flash manufacturing PMI reading for March suggests that China's economic growth momentum has continued to slow down, with domestic demand weakening further.
"We expect Beijing to launch a series of policy measures to stabilize growth," the HSBC economist stated, adding, "Likely options include lowering entry barriers for private investment, targeted spending on subways, air cleaning and public housing and guiding lending rates lower."