China Security Times (STCN) recently reported that, the Chinese National Bureau of Statistics and the China Federation of Logistics and Purchasing jointly released the China Manufacturing Purchasing Managers’ Index (PMI). Data shows that in January, the Manufacturing PMI fell to 49.3 percent, below the 50 percent line in the contraction territory.
According to the Bureau of Statistics, the low number is due to some manufacturing sectors entering their traditional off-season, coupled with insufficient effective market demand.
Looking at the 13 sub-indices, compared with the previous month, the product inventory index, import index, purchase price index, and ex-factory price index increased, with the increase ranging from 0.3 to 3 percentage points; while the production index, new orders index, new export orders index, backlog orders index, purchasing volume index, raw material inventory index, employment index, supplier delivery time index, and production and operation activity expectation index all decreased, with the decrease ranging from 0.1 to 2.9 percentage points.
The survey shows that over 34 percent of manufacturing companies reported declining profits in January, highlighting the need to address the issue of corporate profits.
Source: STCN, January 31, 2026
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