The purchasing managers' index (PMI) for China's manufacturing sector came in at 49 in April, down 1.5 percentage points from March, official data showed on Wednesday.
Despite the drop, high-tech manufacturing continued to expand, with its PMI reaching 51.5, significantly outperforming the broader manufacturing sector, according to the data released by the National Bureau of Statistics and China Federation of Logistics and Purchasing.
The new orders index for consumer goods manufacturing stood at 50, indicating stable domestic demand, the data showed.
The data also showed that the business activity expectation index for April stood at 52.1, remaining in the expansion range, reflecting optimism among enterprises.
"Business still have strong confidence in market development. The business activity expectation indexes for industries such as food, wine, drink, tea, automobile, railways, ships, aviation, and aerospace equipment were in a relatively prosperous range of 58 and above," said Huo Lihui, director of the business climate department of the Service Survey Center under the National Bureau of Statistics.
While global trade fluctuations have posed challenges to China's manufacturing industry, its large-scale market and complete industrial supply chain have continued to provide resilience against external shocks, ensuring economic stability, according to experts.
"China is irreplaceable in the global manufacturing sector, particularly in its supply chain capabilities. Meanwhile, China has more advantages in digitalization and smart technology than other economies," said Hu Dajian, vice president of China Federation of Logistics and Purchasing.
China's manufacturing PMI at 49 in April
China's manufacturing PMI at 49 in April
