China's manufacturing PMI rises to 50.3 in December

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A staff member works at a workshop of microwave oven factory of Midea Group, a Chinese home appliance giant, in Foshan City, south China's Guangdong Province, April 1, 2021. [Photo/Xinhua]

The purchasing managers' index (PMI) for China's manufacturing sector came in at 50.3 in December, up from 50.1 in November, data from the National Bureau of Statistics showed Friday.

A reading above 50 indicates expansion, while a reading below reflects contraction.

The rise came after the country had revved up supports to ensure adequate supply, stabilize market prices and ease the pressure of companies, said NBS senior statistician Zhao Qinghe.

In November, the sub-index measuring purchase prices of major raw materials dropped 4.8 percentage points from November to 48.1. The ex-factory price index fell to 45.5, down 3.4 percentage points from last month.

This is the second consecutive month that the two indices saw a decline.

The sub-index for production reached 51.4, remaining in the expansion area, which reflects the growth momentum of the manufacturing sector.

Friday's data also showed that the PMI for China's non-manufacturing sector came in at 52.7 in December, up from 52.3 in November.

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