AI Data Insight
The recently released China Q3 (July) Strategic Emerging Industries PMI reported at 47.8, down 2.6 percentage points from the previous value of 50.4, returning to the contraction zone. Although the overall data slowed down due to the interference of the summer off-season and a high base period, export orders rebounded against the trend and R&D employment indicators continued to expand, showing that structural prosperity within the industry still exists. Going forward, attention should be paid to the impact of overseas geopolitical risks on export resilience, as well as the stimulating effect of policy efforts on domestic demand.