Manufacturing activity still sluggish

China's manufacturing activity was on the verge of contraction in April, firming up policymakers' key task of stabilizing growth by new stimulus measures.

April's manufacturing Purchasing Managers' Index, released on Friday, remained unchanged from March, at 50.1, close to the 50-point level that separates expansion from contraction, compared with 49.9 in February and 49.8 in January.

The PMI readings for medium and small enterprises in April remained below 50, while that for large companies stood at 50.6, according to the National Bureau of Statistics.