RatingDog: In February, the manufacturing industry showed a pattern of strong supply and demand, with confidence rebounding. It is expected that the manufacturing PMI will continue to remain in the expansion zone in the short term.

According to RatingDog data, in February, China's manufacturing PMI recorded 52.1, a significant increase of 1.8 compared to January's 50.3 and has been in the expansion zone for the third consecutive month. The reading is significantly higher than the average of 50.4 in the past year and the level of 50.8 in the same period last year, with the improvement rate being the fastest in over five years. Overall, in February, the manufacturing sector showed a pattern of expansion with strong demand and supply, and confidence warming up, with strong external demand providing important support. Whether the manufacturing sector can maintain high growth in the future depends on the resilience of the demand side and whether business confidence can actual hiring and investment. Considering the stable real estate signal released by the relaxation of Shanghai's real estate policies, and the positive impact of the national "two sessions" in March on stabilizing expectations and confidence, it is expected that the manufacturing PMI will continue to be in the expansion zone in the short term.