In September, the Purchasing Managers Index (PMI) of China’s manufacturing industry was 51.5%, an increase of 0.5 percentage points from the previous month, indicating that the manufacturing industry has rebounded. In terms of enterprise scale, the PMI of large enterprises was 52.5%, an increase of 0.5% from the previous month; the PMI of medium-sized enterprises was 50.7%, a decrease of 0.9% from the previous month; the PMI of small enterprises was 50.1%, an increase of 2.4% from the previous month.

From the perspective of sub-indices, among the five sub-indices that make up the manufacturing PMI, the production index, new order index and supplier delivery time index are all above the critical point, and the raw material inventory index and the employee index are below the critical point. The production index was 54.0%, an increase of 0.5 percentage points from the previous month, indicating that the manufacturing output continued to grow month-on-month. The new order index was 52.8%, an increase of 0.8 percentage points from the previous month, indicating that the manufacturing market demand continued to rebound. The raw material inventory index was 48.5%, an increase of 1.2 percentage points from the previous month, indicating that the decline in the inventory of major raw materials in the manufacturing industry has narrowed. The employment index was 49.6%, an increase of 0.2 percentage points from the previous month, indicating that the employment boom of manufacturing enterprises has improved. The supplier delivery time index was 50.7%, an increase of 0.3% from the previous month, indicating that the delivery time of manufacturing raw material suppliers continued to accelerate.