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China's manufacturing activity expanded at a stable pace in October, in line with expectations, survey data from IHS Markit showed Wednesday.
The Caixin Purchasing Managers' Index for the factory sector came in at 51.0 in October, the same reading as in September. However, any reading above 50 indicates expansion in the sector.
Moreover, the index remained above 50-mark for the fifth successive month.
Among components, new orders rose at a slightly quicker pace in October, while production increased at the softest rate for four months.
At the same time, companies continued to shed staff amid reports of company-downsizing policies and efforts to raise efficiency.
On the price front, input price inflation remained sharp in October. As a result, companies raised their factory gate prices at a solid pace.
