China: Manufacturing PMI - Caixin

Macro

2026-03-04
Description

The China Caixin Manufacturing Purchasing Managers' Index (Caixin PMI) is jointly compiled and published by Caixin Media and IHS Markit. This index is based on a monthly survey of around 650 purchasing managers from state-owned and private manufacturing enterprises in China. It measures the health and economic condition of China's manufacturing sector. A PMI reading above 50% indicates expansion, while below 50% indicates contraction.

The index is composed of five weighted sub-indices: New Orders (30%), Output (25%), Employment (20%), Supplier Delivery Times (15%), and Inventories (10%).

The data is typically released on the first working day of each month, providing insights into the manufacturing activities for the month.

Published by
Caixin Media (Choice)
Frequency
Monthly
Next Update
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AI Data Insight

In January 2026, the Caixin China General Manufacturing PMI unexpectedly jumped significantly from the previous value of 50.3 to 52.1, hitting a new high since late 2020 and ending the fluctuation along the boom-or-bust line. The data shows strong resilience in external demand, with the new orders index rebounding significantly. This forms a divergence with the weakness of the official PMI, indicating that private export enterprises are outperforming domestic-oriented state-owned enterprises.

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AI Data Insight

In January 2026, the Caixin China General Manufacturing PMI unexpectedly jumped significantly from the previous value of 50.3 to 52.1, hitting a new high since late 2020 and ending the fluctuation along the boom-or-bust line. The data shows strong resilience in external demand, with the new orders index rebounding significantly. This forms a divergence with the weakness of the official PMI, indicating that private export enterprises are outperforming domestic-oriented state-owned enterprises.

Dive in →

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Description

The China Caixin Manufacturing Purchasing Managers' Index (Caixin PMI) is jointly compiled and published by Caixin Media and IHS Markit. This index is based on a monthly survey of around 650 purchasing managers from state-owned and private manufacturing enterprises in China. It measures the health and economic condition of China's manufacturing sector. A PMI reading above 50% indicates expansion, while below 50% indicates contraction.

The index is composed of five weighted sub-indices: New Orders (30%), Output (25%), Employment (20%), Supplier Delivery Times (15%), and Inventories (10%).

The data is typically released on the first working day of each month, providing insights into the manufacturing activities for the month.

Published by
Caixin Media (Choice)
Frequency
Monthly
Next Update
Hashtags