China's December PMI at 53.0... 8 Consecutive Months of Economic Expansion Phase

Continued Growth in Chinese Exports and Small and Medium-Sized Enterprise Economy

[Asia Economy Beijing=Special Correspondent Jo Young-shin] Chinese financial information company Caixin announced on the 4th that the manufacturing Purchasing Managers' Index (PMI) for December last year was recorded at 53.0, down 1.9 points from 54.9 in the previous month.

Caixin stated, "Although last month's PMI was lower than November last year, which was the highest in 10 years, it is still above the threshold that separates economic expansion and contraction," and evaluated that "this shows that the Chinese economy is still in a continuous recovery phase after the COVID-19 pandemic."

The Caixin manufacturing PMI has been above 50, indicating an economic expansion phase, for eight consecutive months since last May.

Unlike the official manufacturing PMI released by the National Bureau of Statistics, which mainly targets large state-owned enterprises, the manufacturing PMI published by Caixin is considered an important reference for understanding the business conditions of Chinese export companies and small and medium-sized enterprises.

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