2022年1月29日

China’s manufacturing PMI rose to 51.9% in March, the highest in years for imports

BEIJING, March 31 (Xinhua) — China’s manufacturing purchasing managers’ index (PMI) rose to 51.9 percent in March, 1.3 percentage points higher than the previous month, the National Bureau of Statistics (NBS) said on Thursday. The import index is at a recent high.

Zhao Qinghe, a senior statistician at the service industry survey center of the National Bureau of Statistics (NBS), said that after the Spring Festival, the recovery of enterprise production accelerated, and the manufacturing industry rebounded significantly in March. In 17 of the 21 industries surveyed, the PMI was above the line between expansion and contraction, with sentiment widening from the previous month.

In terms of supply and demand, the production index and new order index were 53.9 percent and 53.6 percent respectively, up from 2.0 and 2.1 percentage points in the previous month, indicating that the pace of expansion of manufacturing production and demand has accelerated.

Imports and exports also returned to the boom zone. After the Spring Festival, China’s domestic market accelerated the release of production and demand, and the world’s major economies continued to recover, the new export orders index and the import index were 51.2% and 51.1% respectively, 2.4 and 1.5 percentage points higher than the previous month, with the import index rising to a recent high.

In March, the PMI of large, medium and small enterprises was 52.7 percent, 51.6 percent and 50.4 percent, respectively 0.5, 2.0 and 2.1 percentage points higher than the previous month. The production and operation conditions of enterprises of different sizes all improved. Although the prosperity level of small enterprises is lower than that of large and medium-sized enterprises, the expected index of production and business activity rose to 58.4%, indicating that small enterprises have increased their confidence in recent market developments.

In key industries, the PMIs for high-tech manufacturing and equipment manufacturing were 53.9% and 52.9%, respectively, 2.0 percentage points and 1.0 percentage points higher than the overall manufacturing sector. New drivers continued to play a leading role in the development of the manufacturing sector. The index rose to 51.2 per cent and 50.5 per cent respectively, indicating an increase in demand for workers.

Notably, the price index also rose to recent highs. Zhao Qinghe said that due to the high international commodity prices, the main raw material purchasing price index and the ex-factory price index were 69.4% and 59.8% respectively this month, higher than the previous month’s 2.7 and 1.3 percentage points, and the pressure on the prices of some industries has increased.

At the same time, some investigating enterprises said that due to repeated epidemics abroad and the sluggish international economy and trade, some imported raw materials are in short supply recently, their prices have risen significantly and the delivery cycle has been extended. (after)

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