China PMI increased to 50.3 in December 2021. The Chinese manufacturing continued to grow as we had projected but many analysts had expected China PMI to decline because of the upcoming winter Olympics as manufacturing was restricted to reduce air pollution. We had our own rationale for our optimism which we had stated below and we were proven right again.
"We continue to have our optimism as the manufacturing sector has to meet consumer demands for the upcoming CNY festival."
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