China's manufacturing activity moderated in October, with the purchasing managers' index falling to 49.3 as the high-tech and equipment manufacturing sectors maintained expansion, official data showed on Saturday.

The overall reading was down 0.8 percentage points from September, according to the National Bureau of Statistics.

Chief statistician Huo Lihui attributed the retreat to some demand being brought forward ahead of the National Day holiday this month and a complex international environment.

The production subindex stood at 49.8, down 1.9 points from September, while the new-orders subindex fell 1.1 points to 49.4, as both supply and demand moderated during the month.

The PMI for high-tech manufacturing stood at 51.3 while that for equipment manufacturing came in at 50.6, both remaining above the 50-point threshold that separates expansion from contraction.

The figures indicate that emerging industries continued to sustain growth momentum, supported by the ongoing development of new quality productive forces, Huo noted.

Manufacturing activity in several advanced industries remained robust.

Both the production and new-orders subindexes for railway, shipbuilding and aerospace equipment manufacturing, as well as computer, communications and electronic equipment manufacturing, stood at 53 or above, pointing to relatively strong supply and demand in these sectors.

Large manufacturers continued to report expansion, with their PMI standing at 50.2, despite a slight decline of 0.4 points from the previous month.

The PMI readings for medium-sized and small enterprises came in at 48.4 and 47.5, respectively.

On the price front, both major raw material purchasing prices and factory-gate prices remained in expansionary territory, although their growth moderated.

The purchasing price subindex stood at 56.8, down four points from September while the factory-gate price subindex eased 2.3 points to 51.7, partly reflecting recent declines in the prices of certain nonferrous metals and other commodities. (Xinhua)





Edited by Azam Khan