China's factory activity expands for sixth month as price pressures ease

China's manufacturing PMI at 50 in May

China's manufacturing PMI held at 50.0 in May (down 0.3pp from April), with high-tech manufacturing at 52.9 and equipment manufacturing at 52.1, both accelerating. High-tech PMI has stayed above 50 for 16 consecutive months, signaling that China's industrial base is structurally shifting toward advanced manufacturing — a supply-chain and procurement signal for companies sourcing hardware, components, or contract manufacturing in the region.