China’s official manufacturing PMI rose to 50.4 in March from 49, beating the 50.1 forecast and marking the first expansion this year, while the non-manufacturing gauge climbed to 50.1 from 49.5. The rebound reflects stronger fiscal support and resil

2026-03-31

China’s official manufacturing PMI rose to 50.4 in March from 49, beating the 50.1 forecast and marking the first expansion this year, while the non-manufacturing gauge climbed to 50.1 from 49.5. The rebound reflects stronger fiscal support and resilient exports, partly driven by AI-related global demand, ending a two-month contraction. However, escalating Middle East conflict has pushed up energy costs, weighing on factories reliant on oil inputs. While trade volumes remain solid, risks from global slowdown, geopolitical tensions and rising inflation continues to cloud the outlook.

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1. Agricultural Bank of China (01288.HK): Full-year revenue of RMB 725.1 billion in 2025, a year-on-year increase of 1.9%. 2. Pony.ai (02026.HK): Plans to increase ROBOTAXI sales by 200% in 2026. 3. Bank of China (03988.HK): Revenue of RMB 659.87 b