中国制造业PMI月刊（2026年6月）

China’s manufacturing PMIrisesto 50.3inJune,indicatingexpansioninthe manufacturing sector Helen ChinE: helenchin@ust.hk William KongE: williamkong@ust.hk HKUST LI & FUNGSUPPLY CHAIN INSTITUTE LSK Business BuildingThe Hong Kong University ofScience & TechnologyClear Water BayKowloon,Hong KongE:ustlfsci@ust.hk Out ofthe13 sub-indices,eightrecordedan increasecompared withMay.Notably, thenew orders indexclimbed1.3pts to51.2inJune,signallingapickupinmarket demand.The new export orders indexjumped1.5ptsto50.1,marking areturn toexpansionaryterritory.Against this backdrop, the output indexedgedup0.2pts to 51.4inJune,pointing tosustainedgrowth in manufacturing production.In addition, thepurchase ofinputsindexrose abovethe neutral level of 50toa nine-month high of 51.4.Also By size of enterprises,the PMI of“large enterprises”went downto50.7 in June from51.1 in May.The PMI of“medium enterprises”climbedto50.5 in June from48.6 in May. The output indexinchedupto51.4 in June from51.2 in May.The outputindicesof“large enterprises”and“medium enterprises”remainedabovetheneutral level of 50,registering52.1and 51.7respectively inJune.Meanwhile, theoutput indexof “small The new orders indexroseto51.2 in June from49.9 in May.The neworders indicesof“large enterprises”and “medium enterprises” stayedinthe expansionary zone,registering 51.9 and 51.3 respectivelyinJune.Meanwhile, the new orders indexof The new export ordersindexjumped to 50.1 in June from48.6 in May.The new exportordersindexof“large enterprises”remainedabovethecritical 50-mark,registering50.1inJune.Meanwhile, the new export orders indicesof“medium enterprises”and “small The backlogs of orders indexincreasedto47.1 in June from46.8 in May.Thebacklogsof orders indicesof“large enterprises”,“medium enterprises”and“small enterprises” The stocks of finished goods indexdroppedto47.7 in June from49.3 in May.Thestocksof finished goods indexof“large enterprises”returned to the expansionaryzone,registering50.6inJune.Meanwhile, the stocks of finished goods indices of“medium The stocks of major inputs indexedged downto48.4 in June from48.6 in May.Themajor inputsindicesof“large enterprises”,“medium enterprises”and“small enterprises” The purchases of inputs indexroseto51.4 in June from49.8 in May.Thepurchases ofinputsindicesof“large enterprises”and “medium enterprises” stayed intheexpansionaryzone,registering52.5 and 50.3respectivelyinJune. Meanwhile, the The imports indexwentupto49.6 in June from48.8 in May.Theimportsindicesof“large enterprises”and“mediumenterprises”stayed belowtheneutral level of50,registering49.5 and 49.3 respectivelyinJune.Meanwhile, the imports indexof“small The input prices indexretreatedto54.2 in June from60.5 in May. Theinput pricesindicesof“large enterprises”,“medium enterprises”and“small enterprises”allremained Theex-factory prices indexfellto48.2 in June from51.9 in May.The ex-factory pricesindicesof“large enterprises”,“medium enterprises”and“small enterprises”alldropped The employment indexedged downto48.5 in June from48.6 in May.Theemploymentindicesof“large enterprises”,“medium enterprises”and“small enterprises”all stayedin The suppliers’ delivery time indexincreasedto49.9 in June from49.2 in May.A readingabove 50 implies faster delivery; below 50, slower delivery. The suppliers’ delivery timeindices of“large enterprises”,“medium enterprises”and“small enterprises”registered The business expectations indexwent upto54.3 in June from53.9 in May. Thebusiness expectations indices of“large enterprises”,“medium enterprises”and“small CFLP 中國物流與採購聯合會 China Federation of Logistics & Purchasing (CFLP) is the logistics and purchasing industryassociation approved by the State Council. CFLP’s mission is to push forward the developmentof the logistics industry and the procurement businesses of both government and enterprises, NBS 國家統計局 The National Bureau of Statistics (NBS), an agency directly under the State Council in China, isin charge of the country’s statistics. It is responsible for formulating statistical policies andestablishing the national statistical system, drafting and enforcing the statistical laws and China Manufacturing PMI 中國製造業採購經理指數 China Manufacturing Purchasing Managers’ Index (PMI) provides an early indication eachmonth of economic activities in theChinese manufacturing sector. It is jointly published bytheNational Bureauof Statistics (NBS) andChina Federation of Logistics & Purchasing (CFLP). Every month questionnaires are sent to 3,000 manufacturing enterprises all over China. Thedata presented herein is compiled fromthe enterprises’ responses about their purchasingactivities and supply situations. CFLP makes no representation regarding the datacollection 3,000 manufacturing enterprises in 31 industries from Eastern, Northeastern, Central andWestern China are surveyed. Thesampling of the enterprises involves the use of ProbabilityProportional to Size Sampling (PPS), which means the selection ofenterprises surveyed