China's manufacturing PMI rose to 50.4% in March

Beijing, March 31 (Xinhua) - According to data released by the Service Industry Survey Center of the National Bureau of Statistics and the China Federation of Logistics and Purchasing on March 31, the Purchasing Managers' Index (PMI) for the manufacturing industry was 50.4% in March, an increase of 1.4 percentage points from the previous month and above the critical point, indicating a rebound in the manufacturing industry's prosperity.

The data shows that both production and demand are expanding synchronously. The production index and new order index were 51.4% and 51.6%, respectively, up 1.8 and 3.0 percentage points from the previous month, both rising to the expansion range. Manufacturing enterprises have accelerated their production activities, and market demand has significantly improved.

The PMI of large, medium, and small enterprises has all rebounded. The PMI of large enterprises was 51.6%, an increase of 0.1 percentage points from the previous month, indicating a stable and upward trend in the economic situation; The PMI for small and medium-sized enterprises was 49.0% and 49.3% respectively, an increase of 1.5 and 4.5 percentage points from the previous month, indicating a significant improvement in the economic situation.

Market expectations are stable with an upward trend. The expected index of production and operation activities is 53.4%, up 0.2 percentage points from last month, indicating that manufacturing enterprises have increased confidence in the recent market development. From an industry perspective, the expected index of production and operation activities in industries such as specialized equipment, automobiles, railway ships, aerospace equipment, etc. is above 56.0% in a relatively prosperous range, and related enterprises are more optimistic about the future development of the industry.