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Chinese manufacturing has experienced rapid expansion

China's manufacturing output, as measured by the Caixin/S&P Global Purchasing Managers Index (PMI), saw its most rapid expansion in two years in May. The index rose from 51.4 in April to 51.7, indicating growth for the seventh consecutive month. This growth was primarily driven by increased production and new orders.


Despite a rise in the price of materials, domestic purchasing activity among Chinese firms also saw an increase in May. Firms anticipated higher orders that would offset the increased raw material costs.

Chinese policymakers have intensified their support for high-tech manufacturing in recent months to boost the country's exports and domestic demand.


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