PMI stability in May a sign of steady growth

The economic activities of China's manufacturing and services sectors remained stable in May despite the country's tightening of financial regulatory policies, which has caused market concerns about slowing the economy.

The official manufacturing purchasing managers index stood at 51.2 in May, which is unchanged from April. It also is the 10th consecutive month that it has been higher than the 50-point mark on the index that divides expansion and contraction, the National Bureau of Statistics said on Wednesday.

Analysts said the reading shows the economy remains resilient.