China's manufacturing sector returned to expansion in September, signaling a continued recovery in economic momentum and growing corporate vitality, official data showed on Wednesday.
The data jointly released by the National Bureau of Statistics and the China Federation of Logistics and Purchasing showed that the manufacturing purchasing managers' index (PMI) reached 50.1 in September, up 0.3 percentage points from the previous month.
Among the 21 industries surveyed, 12 reported a PMI above the critical threshold, an increase of four from the previous month, reflecting an expanded industry boom and continued improvements in enterprise production and market demand.
Key sectors such as equipment manufacturing, high-tech manufacturing, and consumer goods all remained above the expansion mark, indicating overall active production and operations in these areas.
"Of the third quarter, the PMI has risen for two consecutive months in August and September, performing better overall than the same period last year, with economic endogenous momentum gradually recovering. In September, supply and demand in new growth driver sectors such as equipment manufacturing, and high-tech manufacturing remained in expansion," said He Hui, vice president of the China Federation of Logistics and Purchasing.
"Driven by stock preparations for the Mid-Autumn Festival and National Day holidays, the consumer goods manufacturing sector also saw a significant rebound in both supply and demand, effectively supporting the steady overall expansion of manufacturing market demand," He said.
On the price front, driven by rising international commodity prices and increased demand in certain sectors, both the purchasing price index for major raw materials and the ex-factory price index have rebounded for the second consecutive month, leading to a visible rise in the overall market price level of the manufacturing sector.
"From an industry perspective, driven by the sharp rise in international crude oil prices, both price indexes for industries such as petroleum, coal, and other fuel processing, as well as chemical raw materials and chemical products, remained at high levels above 60 percent," said Huo Lihui, chief statistician at the National Bureau of Statistics.
Positive changes were also recorded across enterprises of all sizes, with large enterprises maintaining stable growth and small and medium-sized enterprises experiencing marginal improvements compared to the previous month, reflecting an overall robust and positive trend in corporate vitality in September.
China's manufacturing PMI returns to expansion in September
