China's overall business activity showed positive momentum this May, with the composite purchasing managers' index (PMI) rising to 50.5. According to the latest data released by the National Bureau of Statistics (NBS) on Sunday, this represents a 0.4-point increase from the previous month, pushing the index above the critical 50-point expansion threshold.
While the overall trend is positive, the data reveals a divergence across different sectors. The manufacturing PMI stood at 50, a slight dip of 0.3 points from April. Conversely, the non-manufacturing PMI climbed to 50.1, marking a 0.7-point month-on-month increase and returning the sector to expansion territory.
A key driver of this growth is the continued strength of new industrial engines. Huo Lihui, a chief statistician at the NBS, highlighted that high-tech manufacturing and equipment manufacturing saw their PMIs rise to 52.9 and 52.1, respectively—increases of 0.7 and 0.3 percentage points over the previous month.
Large-scale enterprises also continue to demonstrate resilience. The PMI for large enterprises rose by 0.9 percentage points from April to reach 51.1, maintaining a steady presence in the expansion zone since the beginning of 2026.
The services sector has experienced a particularly significant surge. According to the NBS, sectors including railway transportation, insurance, telecommunications, broadcasting, television, and satellite transmission all reported PMIs above 55, indicating a major upswing in activity across these critical service industries.
Reference(s):
cgtn.com
