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E-mail Xinhua, March 31, 2025
China's manufacturing sector continued to expand this month as business production accelerated amid sustained economic recovery, official data showed Monday.
The purchasing managers' index (PMI) for China's manufacturing sector came in at 50.5 in March, up 0.3 percentage points from February, the National Bureau of Statistics (NBS) said in a statement. The reading represents the highest figure since March 2024.
NBS statistician Zhao Qinghe said the manufacturing PMI has climbed for two months in a row, indicating continued improvement in industrial sentiment.
A PMI reading above 50 reflects expansion, while a figure below 50 suggests contraction.
Monday's data also showed that the non-manufacturing PMI came in at 50.8 in March, up 0.4 percentage points from the previous month, while the general PMI climbed from 51.1 to 51.4.
With all three major indices rising, the overall economy maintained expansion, Zhao said.
China's economy has started 2025 with renewed vigor, as key indicators spanning manufacturing, consumption and real estate reveal strengthening momentum.
Analysts believe the sound economic performance at the beginning of the year has laid a good foundation for China to meet its 2025 growth target of around 5 percent unveiled earlier this month in the government work report.
To meet the economic target, the government has recently rolled out an array of new measures to foster momentum, from energizing the consumer market to supporting the private economy and improving the business environment.
A series of major projects also broke ground to drive domestic demand, including transport infrastructure, solar power generation and modern manufacturing clusters.
Most recently, the Ministry of Finance announced Monday the issuance of special treasury bonds worth 500 billion yuan (about 69.7 billion U.S. dollars) to support large state-owned commercial banks in replenishing their core tier-one capital.
The move will enable these banks to better serve the real economy, providing stronger support for the country's steady and long-term economic development, the ministry said.
Looking ahead, China possesses multiple favorable conditions to maintain stable, healthy economic development, NBS spokesperson Fu Linghui said at a press conference earlier this month, voicing confidence that the nation would meet this year's growth target.
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