The purchasing managers' index (PMI) for China's manufacturing sector came in at 50.2 in February, up from 49.1 in January, according to official data released by the National Bureau of Statistics on Saturday.
A reading above 50 indicates expansion, while a reading below 50 reflects contraction.
The resumption of work and production after the end of the Spring Festival holiday season in early February contributed to a rebound in market demand. The sub-index for new orders in the manufacturing sector stood at 51.1 percent in February, up 1.9 percentage points from the previous month.
The demand for high-tech products and consumer goods was boosted by government consumption promotion campaigns such as consumer goods trade-in and large-scale equipment upgrading, as well as measures to promote the development of new technologies and industries such as artificial intelligence.
In the month, the resumption of production and growth in investment demand in the manufacturing sector boosted demand for basic raw materials. The new orders index for basic raw materials rose 3.4 percentage points to nearly 51 percent in February, the highest since April 2023.
Driven by the recovery in market demand, the production activities of enterprises achieved notable growth in February.
The production index stood at 52.5 percent, up 2.7 percentage points from the previous month.
In particular, the output of new economic drivers achieved significant growth in the month.
The production index of the equipment manufacturing industry stayed above 54 percent, up nearly two percentage points from the previous month, while the high-tech manufacturing production index was 53 percent, up three percentage points from the previous month.
"Driven by the recovery of production and demand, enterprises' purchasing intention has also increased, bringing the purchase quantity index back to the expansion range with a significant increase in the month," said Huo Lihui, head of the business climate survey division at the Service Survey Center of the National Bureau of Statistics.
Rising market demand and firms' willingness to produce also boosted employment demand.
The employment index increased by 0.5 percentage point month-on-month in February, reaching its highest level since May 2023.
"In summary, the rebound in the manufacturing indexes in February was a structural rebound under the combined effect of seasonal and policy factors. We saw growth from both the supply and demand sides, as well as record highs of many sub-indexes, reflecting the high quality of China's economic recovery," said He Hui, Assistant President of China Federation of Logistics and Purchasing.
China's manufacturing PMI goes up to 50.2 in February
China's manufacturing PMI goes up to 50.2 in February
China's manufacturing PMI goes up to 50.2 in February
Officials and scholars from the Latin America and Caribbean (LAC) region have welcomed Chinese President Xi Jinping's keynote address at the opening ceremony of the fourth ministerial meeting of the China-CELAC Forum in Beijing on Tuesday.
They said that the speech laid out the practical achievements and broad prospects of the China-LAC community with a shared future, put forward new initiatives and actions for the development of China-LAC relations, and signaled the direction for both sides to achieve common development and revitalization and write a new chapter in China-LAC relations.
"The projects designed by China for this region meet the needs of Latin American countries. In terms of development and investment projects, such as infrastructure, clean energy and digitalization, they are very important for Cuba. And projects such as the planned Brazil-Peru bi-oceanic railway and the expansion of the port of La Guaira in Venezuela directly and indirectly create jobs and benefit Latin American people," said Eduardo Regalado, a researcher at the International Policy Research Center of Cuba.
Uruguayan President Yamandu Orsi said that his country is committed to carrying forward the positive momentum of the China-CELAC Forum when it assumes the rotating presidency of CELAC from Colombia in 2026.
"Uruguay is looking forward to taking over next year and continuing the tradition of the past decade. To this end, we must strengthen the development of these platforms for promoting multilateralism, and carefully protect the achievements made by both sides at this year's meetings. We should not only achieve development in the field of economy and trade, but also contribute to promoting world peace," he said.
Other politicians from Latin America pointed out that China and LAC countries are all important members of the Global South, and are comprehensive cooperative partners featuring equality, mutual benefit and shared development. In a profoundly changing world, the strengthening of China-LAC solidarity and collaboration is an example of true multilateralism and sets a model for South-South cooperation, some said.
"President Xi Jinping has a broad vision for global development. China has made amazing development achievements, which have become a part of modern society, including technology, artificial intelligence and clean energy. The inflow of Chinese investment, such as for the construction of Chancay Port, has activated development in a variety of sectors [in Peru]," said Edgar Tello, a Peruvian congressman.
"President Xi Jinping announced the strengthening of South-South cooperation and the launch five programs. It will give more Latin American people the opportunity to study in China. China will provide a 66-billion-yuan (about 9.16 billion U.S. dollars) credit line to provide financial support for the development of LAC countries. And China will promote the civilization program to carry out cooperation in archaeology and civilization research. Such mutual cooperation and win-win initiatives between China and LAC countries are inspiring. We in Honduras are sincerely delighted with the series of cooperation plans announced by President Xi," said Rasel Tome, vice president of the National Congress of Honduras.
Officials, scholars praise Xi's keynote speech at China-CELAC Forum
