Statistics jointly released by the China Federation of Logistics & Purchasing and the Service Industry Survey Center of the National Bureau of Statistics on March 1 show that the China Manufacturing Purchasing Managers' Index (PMI) for February was 51.6%, up 0.3 percentage points from January, and the manufacturing sector continued to maintain a stable and positive development trend; the China Non-manufacturing Business Activity Index was 54.2%, down 0.4 percentage points from January, generally continuing the trend of relatively rapid growth.

Zhao Qinghe, senior statistician at the Service Industry Survey Center of the National Bureau of Statistics, said that the February manufacturing PMI was 51.6%, having remained above 51% for five consecutive months, and the manufacturing sector continued to maintain a stable and positive development trend, showing four main characteristics: first, market demand in the manufacturing sector picked up and production became more active; second, domestic and external demand improved somewhat, and imports and exports continued to stabilize and improve; third, new growth drivers continued to gain momentum, and the equipment manufacturing industry and high-tech manufacturing industry maintained a sound development momentum; fourth, enterprises' confidence in future development continued to strengthen, and market expectations remained optimistic.

Chen Zhongtao, senior economist at the China Logistics Information Center, believes that this year is an important year for implementing the "13th Five-Year Plan," and localities are highly motivated to invest in construction, so investment is expected to continue to play a role in stabilizing growth. External demand also shows signs of recovery. Supply-side reform is accelerating, financial regulation is being strengthened, the phenomenon of funds "shifting from the real economy to the virtual economy" is gradually being reversed, and the development environment for the real economy is continuously improving. Enterprise confidence has been boosted, and the index of expectations for production and business activities has risen significantly, reaching its highest level in recent years.

Cai Jin, vice president of the China Federation of Logistics & Purchasing, pointed out that the China Non-manufacturing Business Activity Index in February remained at a relatively high level above 54%, business activities continued the trend of relatively rapid growth, and demand and employment remained stable. The input price index continued to decline, while the sales price index rebounded somewhat, which is conducive to easing cost pressures on enterprises and expanding profit margins, but attention should also be paid to signs of inflation. Financial industry-related indices rose sharply, and activities in both the banking industry and the capital market rebounded noticeably, which is conducive to improving the social financing environment.