AI Data Insight
China's Q4 2026 manufacturing PMI for medium-sized enterprises dropped to 48.4, a significant decline from the previous value of 49.7, falling below the boom-or-bust line. Affected by the early release of demand ahead of the long holiday and cooling export momentum, small and medium-sized enterprises (SMEs) face significant contraction pressure. The market is closely watching whether officials will further step up stimulus for domestic demand.