The Caixin survey is believed to be skewed more towards smaller, export-oriented firms than the much broader official PMI.
Output rose at the fastest pace since June 2022, with firms in the consumer segment reporting sharp growth in May.
Policies aimed at stabilising the economy, boosting domestic demand and increasing employment need to be strengthened and consistentWang Zhe, Caixin Insight Group
Production was underpinned by higher new work inflows, as stronger domestic and global demand supported client interest in new products, according to respondents.
New export orders, however, grew at a much slower pace compared with April’s 41-month high.
Some respondents said recent trade fairs had led to new work, while others referred to their strategic expansion into overseas markets. But a lacklustre global economy remains a constraint.
“It will take time to find solutions to these…
