According to the data released by the National Bureau of statistics on March 1, China’s Manufacturing Purchasing Manager Index (PMI) was 50.2% in February, up 0.1 percentage points from the previous month and continuing to be higher than the critical point. “In February, the situation of enterprises returning to work and production after the festival was good. The manufacturing PMI continued to operate smoothly in the expansion range, the demand was improved, the expectation was good, and the prosperity level rebounded slightly.” Zhao Qinghe, Senior Statistician of the service industry survey center of the National Bureau of statistics, said.

Specifically, affected by the Spring Festival holiday factors, the expansion of manufacturing production and business activities slowed down, and the production index was 50.4%, down 0.5 percentage points from the previous month. The new order index was 50.7%, up 1.4 percentage points from the previous month, returning to the expansion range, indicating that the release of market demand in the manufacturing industry has accelerated after the festival. In terms of industry conditions, the production index and new order index of pharmaceutical, special equipment, automobile and other industries are higher than 54.0%, and the industry is developing rapidly.

“In the covid-19 effect of the new crown pneumonia epidemic, the manufacturing PMI is not dropping.” from the main points, the new order index has returned to the ups and downs line after 6 months, and the new export orders have reached a new high since May 2021. Zheng Houcheng, director of Yingda Securities Research Institute, said.

Li Chao, chief economist of Zheshang securities, said that the manufacturing PMI rebounded against the season in February and has been at the boom level for four consecutive months, and the expectation of a good economic start is being fulfilled. In February, the new order index returned to the expansion range. Domestic demand has recovered strongly, and the purchase index and import index have increased significantly, reflecting the characteristics of the demand for steady growth and the advance force of placing orders. In addition, the new export order index rose 0.6 percentage points to 49%, and foreign demand remained resilient.

Steady progress was made in the adjustment of industrial structure. The PMI of high-tech manufacturing industry and equipment manufacturing industry were 53.1% and 51.4% respectively, 1.2 and 1.1 percentage points higher than that of the previous month. Since March 2020, they have continued to be in the expansion range, and the new kinetic energy continues to exert its force. The PMI of the consumer goods industry was 51.8%, 1.6 percentage points higher than that of the previous month, and the driving effect of holiday consumption was obvious. The PMI of high energy consuming industries was 48.3%, 1.4 percentage points lower than that of the previous month, and the boom level of high energy consuming industries was low.

Enterprises are expected to continue to pick up. Zhao Qinghe pointed out that after the Spring Festival, manufacturing production activities have gradually returned to normal. Recently, relevant departments have issued a series of policies and measures to promote the steady growth of industrial economy, and the enterprise market expectation has been further improved. The expected index of production and operation activities is 58.7%, 1.2 percentage points higher than that of last month, rising to the recent high point. From the perspective of industry conditions, the expected indexes of production and operation activities of the 21 industries surveyed are located in the boom range, among which the non-ferrous metal smelting and rolling processing, automobile, electrical and mechanical equipment and other industries are located in the high boom range of more than 60.0% for two consecutive months. Enterprises in relevant industries have strong confidence in the recent market development.

Zhao Qinghe said that although the prosperity level of the manufacturing industry has rebounded, there are still many prominent problems in the production and operation of enterprises. The proportion of enterprises reflecting the high cost of raw materials, high labor cost and tight capital is 60.2%, 36.3% and 32.0% respectively, all of which have increased over the previous month. At present, it is still necessary to promote the implementation of policies such as enterprise relief to provide strong support for the stable growth of the manufacturing industry.

According to the data released by the National Bureau of statistics on March 1, China’s Manufacturing Purchasing Manager Index (PMI) was 50.2% in February, up 0.1 percentage points from the previous month and continuing to be higher than the critical point. “In February, the situation of enterprises returning to work and production after the festival was good. The manufacturing PMI continued to operate smoothly in the expansion range, the demand was improved, the expectation was good, and the prosperity level rebounded slightly.” Zhao Qinghe, Senior Statistician of the service industry survey center of the National Bureau of statistics, said.

Specifically, affected by the Spring Festival holiday factors, the expansion of manufacturing production and business activities slowed down, and the production index was 50.4%, down 0.5 percentage points from the previous month. The new order index was 50.7%, up 1.4 percentage points from the previous month, returning to the expansion range, indicating that the release of market demand in the manufacturing industry has accelerated after the festival. In terms of industry conditions, the production index and new order index of pharmaceutical, special equipment, automobile and other industries are higher than 54.0%, and the industry is developing rapidly.

“In the covid-19 effect of the new crown pneumonia epidemic, the manufacturing PMI is not dropping.” from the main points, the new order index has returned to the ups and downs line after 6 months, and the new export orders have reached a new high since May 2021. Zheng Houcheng, director of Yingda Securities Research Institute, said.

Li Chao, chief economist of Zheshang securities, said that the manufacturing PMI rebounded against the season in February and has been at the boom level for four consecutive months, and the expectation of a good economic start is being fulfilled. In February, the new order index returned to the expansion range. Domestic demand has recovered strongly, and the purchase index and import index have increased significantly, reflecting the characteristics of the demand for steady growth and the advance force of placing orders. In addition, the new export order index rose 0.6 percentage points to 49%, and foreign demand remained resilient.

Steady progress was made in the adjustment of industrial structure. The PMI of high-tech manufacturing industry and equipment manufacturing industry were 53.1% and 51.4% respectively, 1.2 and 1.1 percentage points higher than that of the previous month. Since March 2020, they have continued to be in the expansion range, and the new kinetic energy continues to exert its force. The PMI of the consumer goods industry was 51.8%, 1.6 percentage points higher than that of the previous month, and the driving effect of holiday consumption was obvious. The PMI of high energy consuming industries was 48.3%, 1.4 percentage points lower than that of the previous month, and the boom level of high energy consuming industries was low.

Enterprises are expected to continue to pick up. Zhao Qinghe pointed out that after the Spring Festival, manufacturing production activities have gradually returned to normal. Recently, relevant departments have issued a series of policies and measures to promote the steady growth of industrial economy, and the enterprise market expectation has been further improved. The expected index of production and operation activities is 58.7%, 1.2 percentage points higher than that of last month, rising to the recent high point. From the perspective of industry conditions, the expected indexes of production and operation activities of the 21 industries surveyed are located in the boom range, among which the non-ferrous metal smelting and rolling processing, automobile, electrical and mechanical equipment and other industries are located in the high boom range of more than 60.0% for two consecutive months. Enterprises in relevant industries have strong confidence in the recent market development.

Zhao Qinghe said that although the prosperity level of the manufacturing industry has rebounded, there are still many prominent problems in the production and operation of enterprises. The proportion of enterprises reflecting the high cost of raw materials, high labor cost and tight capital is 60.2%, 36.3% and 32.0% respectively, all of which have increased over the previous month. At present, it is still necessary to promote the implementation of policies such as enterprise relief to provide strong support for the stable growth of the manufacturing industry.