中文
Factory activity in China rebounded slightly in January, but was still in the contraction zone for a fourth consecutive month, according to an official survey.
The Purchasing Managers' Index (PMI) edged up to 49.2 from 49.0 in December, the National Bureau of Statistics (NBS) said on January 31, in line with expectations but remaining below the 50-point mark that separates growth from contraction.
By enterprise scale, the PMI for large companies stood at 50.4, up from 50.0 a month earlier; those for medium and small ones were recorded at 48.9 and 47.2, respectively, indicating activity contraction.
By sub-index, new orders edged up from 48.7 to 49.0, and new export orders saw a solid rise from 45.8 to 47.2. The two's sitting below the 50 mark suggested ongoing challenges in demand.
Meanwhile, the sub-index for output rose from 50.2 to 51.3, indicating improved sentiment in the manufacturing sector, while that for supplier delivery time rose from 50.3 to 50.8.
The non-manufacturing PMI picked up to 50.7 from 50.4 in December, suggesting continuous expansion in the sector.
But the construction sector gauge fell from 56.9 to 53.9, likely reflecting the ongoing slump in China's property market. Zhao Qinghe, a senior statistician at the NBS, attributed the weakness in construction to factors such as low temperature in winter and the approaching Spring Festival holiday.
The property sector, a key driver of growth, has slowed sharply since 2020 due to a government crackdown on excessive borrowing by developers.
In a bid to bolster the economy, the People's Bank of China unexpectedly cut banks' reserve requirements last week to increase lending. It also eased some restrictions on developers to ease their cash crunch.
The central bank has signaled more policy easing is possible. Reducing reserve ratios is intended to boost bank lending to support growth.
More measures have been urged to boost the economy, with Beijing again expected to set a growth target of around 5% for this year.
(Writing by Alex Guo Editing by Harry Huo)
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