China’s official manufacturing purchasing managers’ index (PMI) is 52.0% in March, rallying by 16.3% from last month; the non-manufacturing PMI is 52.3% and up 22.7% compared to the previous month, according to the data released by National Bureau of Statistics (NBS).

Fig. 1: Manufacturing PMI (Seasonally Adjusted)

Fig. 2: Non-manufacturing PMI (Seasonally Adjusted)