China ’s manufacturing PMI in January for the first time in four months in four month

(Beijing News) In January, China ’s manufacturing procurement manager index (PMI) returned to the expansion range. The first expansion of four months has appeared, showing that the level of prosperity in China's manufacturing industry has rebounded significantly.

According to the information of the official website of the National Bureau of Statistics, the China National Bureau of Statistics' Service Industry Investigation Center and the China Logistics and Procurement Federation released the January Purchasing Manager Index on Tuesday (January 31).

Data show that in January, China's manufacturing procurement manager index was 50.1%, an increase of 3.1 percentage points from the previous month, and rose above the critical point.This is the first time that it has been running below 50%for three consecutive months.The number of purchasing manager index is higher than 50 represents, and less than 50 represents shrinking.

The production of pharmaceutical manufacturing industry is obvious

Zhao Qinghe, a senior statistician of the National Bureau of Statistics of China, pointed out that the reason why the PMI of China's manufacturing PMI returned to the expansion range in January was that the prevention and control of the epidemic entered a new stage and the order of production and life gradually resumed.Among them, 18 of the 21 industries surveyed were higher than last month.

From the perspective of industry conditions, Zhao Qinghe said that the production index and new order indexes of nine industries such as agricultural and sideline food processing, pharmaceutical, general equipment, railway ships, aerospace equipment, and other nine industries are located in the expansion range.Both indexes rose to more than 65.0%of the high boom range.

He believes that the recovery of the manufacturing index reflects the situation of enterprise production and operation, which has changed significantly compared with December 2022.

But he added that more manufacturing in January still reflects insufficient market demand.At present, the lack of market demand is still the primary problem facing enterprise production and operation. The foundation of China's economic recovery development needs to be further consolidated.

According to the China report, Pang Yan, chief economist and director of research department of the Greater China, believes that as the company quickly resumes the work after the Spring Festival, it is expected that the manufacturing PMI classification index and other related indicators are expected to beThere will be continuous and comprehensive recovery and improvement in February.

Bloomberg reported that after the release of China's manufacturing procurement manager index in January, the CSI 300 Index once rose nearly 0.3%, and the Hang Seng China Enterprise Index rose 1.2%.The offshore RMB has not changed against the US dollar. It was reported at 6.7551 yuan at 1 US dollar. China's 10 -year Treasury bond yield was about 2.91%.