According to the data released by the service industry survey center of the National Bureau of statistics and China Federation of logistics and procurement on the 1st, in February, the manufacturing procurement manager index, non manufacturing business activity index and comprehensive PMI output index were 50.2%, 51.6% and 51.2% respectively, which continued to be in the expansion range, 0.1, 0.5 and 0.2 percentage points higher than that of the previous month, indicating that China’s economy as a whole continued to recover and develop, The level of prosperity has risen steadily.

Zhao Qinghe, Senior Statistician of the service industry survey center of the National Bureau of statistics, pointed out that the manufacturing purchasing manager index operated stably. In February, both supply and demand sides expanded and demand improved; Steady progress has been made in the adjustment of industrial structure. The PMI of high-tech manufacturing industry and equipment manufacturing industry has remained in the expansion range since March 2020, and the new driving force has continued to develop; The PMI of the consumer goods industry was 51.8%, 1.6 percentage points higher than that of the previous month, and the driving effect of holiday consumption was obvious.

After the Spring Festival, manufacturing production activities gradually returned to normal. Recently, relevant departments issued a series of policies and measures to promote the steady growth of industrial economy. Enterprise market expectations further improved, and the expected index of production and operation activities rose to a recent high. From the perspective of industry conditions, the expected indexes of production and operation activities of the 21 industries surveyed are located in the boom range, among which the non-ferrous metal smelting and rolling processing, automobile, electrical and mechanical equipment and other industries are located in the high boom range of more than 60.0% for two consecutive months. Enterprises in relevant industries have strong confidence in the recent market development.

However, it should also be noted that although the prosperity level of the manufacturing industry has rebounded, there are still many prominent problems in the production and operation of enterprises. The proportion of enterprises reflecting the high cost of raw materials, high labor cost and tight capital was 60.2%, 36.3% and 32.0% respectively, all of which increased compared with the previous month. “At present, we still need to promote the implementation of policies such as enterprise assistance and rescue, so as to provide strong support for the stable growth of the manufacturing industry.” Zhao Qinghe stressed.