Caixin PMI shows an uptick in March due to government efforts to bail out the private sector and progress in trade talks with the US
Workers make Orolay jackets at the company's factory complex in Jiaxing, Zhejiang province, China on January 28 2019. File photo: REUTERS/PEI LI
The Caixin/Markit manufacturing purchasing managers’ index expanded at the strongest pace in eight months in March, rising to 50.8 from 49.9 in February, above the neutral 50-mark dividing expansion from contraction on a monthly basis and the highest level seen since July 2018. China has made proposals in talks with the US on a range of issues that go further than it has before, including on forced technology transfer, as the two sides work to overcome obstacles to a deal to end their protracted trade war, US officials said on Wednesday.
Caixin’s findings showed factories added headcount in March for the first time in 65 months, arresting a relentless spell of job shedding since October 2013. Some firms were hiring to support higher production and new business development, the release said. Chinese manufacturers also signalled an improvement in pricing power in March, which could ease pressure on profit margins. Output charges edged up into expansionary territory and outpaced growth in input prices, reflecting reduced pressure from raw material costs.
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