National Bureau of Statistics interpretation: Production and demand index for large enterprises continues to stay above the critical point, and overall market expectations are optimistic.

According to the Wisdom Financial APP, Huo Lihui, Chief Statistician of the Service Industry Survey Center of the National Bureau of Statistics, interpreted the Purchasing Managers' Index (PMI) of China in October 2025. It mentioned that in October, the comprehensive PMI output index was 50.0%, at the critical point, indicating that the overall production and operation activities of Chinese enterprises are stable. At the same time, the output and demand index of large enterprises continued to be higher than the critical point. The PMIs of large, medium, and small enterprises were 49.9%, 48.7%, and 47.1% respectively, decreasing by 1.1, 0.1, and 1.1 percentage points compared to the previous month, indicating different degrees of decline in business activity. Among them, the production index and new order index of large enterprises were 50.9% and 50.1% respectively, both staying in the expansion range for 6 consecutive months, indicating continuous release of production and demand in the manufacturing sector of large enterprises.