PMI falls below the 50 mark

Caixin/Markit manufacturing index slump hints at downward pressure

A major private manufacturing Purchasing Managers' Index (PMI) for December slipped into contraction territory for the first time in 19 months, which is in line with the trend of an official survey and indicates a weakening economy.

Analysts said that downward pressure may continue to weigh on the Chinese economy this year, but the expected supportive policies will gradually take effect and lead to improvement in the economy in the second half of this year.