NBS:
Small-size business activity has worsened.
The large enterprise PMI rose to 50.4%, up by 0.4 pp.
The medium-sized enterprise PMI +0.2 pp to 48.9%, and the small enterprise PMI -0.1 pp to 47.2%.
The production and operation activity expectation index -1.9 pps to 54.0%.
Due to the upcoming Chinese New Year holiday and the traditional off-season for some industries, the business activity expectation index stands at 54.0%, indicating continued expansion and overall stable confidence in future market development. Looking at specific industries, the pharmaceutical, specialized equipment, automotive, railway, shipbuilding, aerospace equipment, and other industries have business activity expectation indices above 56.0%, indicating a higher level of optimism regarding the near-term market development.
$iShares MSCI China ETF(MCHI.US$ $Global X MSCI China Consumer Discretionary ETF(CHIQ.US$ $Hang Seng H-Share Index ETF(02828.HK$ $KraneShares CSI China Internet ETF(KWEB.US$ $Hang Seng Index(800000.HK$ $BIDU-SW(09888.HK$ $XIAOMI-W(01810.HK$ $TENCENT(00700.HK$ $Tencent(TCEHY.US$ $BABA-SW(09988.HK$ $Alibaba(BABA.US$ $MEITUAN-W(03690.HK$
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