
中國工廠活動放緩,經濟復甦面臨挑戰,決策者壓力增加
中國國家統計局公布10月PMI數據,製造業PMI降至49.3,非製造業PMI降至49.7,雙雙跌破50榮枯線。數據顯示中國工廠活動與市場需求放緩,經濟復甦動能減弱,恐加大政府推出更多刺激政策的壓力。
AI-generated summary
中國製造業PMI連續三個月反彈後,於第4季初再次跌破50榮枯線。政府此前已推出一系列專項刺激措施以達成4.5%至5%的年度成長目標。
中國國家統計局30日公佈,10月製造業採購經理人指數(PMI)從9月的50.1降至49.3,落入50榮枯線以下的緊縮區間,並低於彭博經濟學家預期的49.9。中國10月工廠活動放緩,突顯決策者在努力維持經濟復甦,以確保達成今年成長目標上面臨挑戰。
彭博報導,相關數據的惡化顯示,全球第二大經濟體的工廠活動在經歷3個月的溫和反彈後,於第4季初漸失成長動能。在近幾週推出新一波的專項刺激措施後,北京可能面臨提出更多產業支持的壓力,以確保經濟成長能達到當局設定的4.5%至5%的成長目標。
從企業規模而言,製造景氣全面下降,大型企業PMI50.2,較前一月下降0.4個百分點,中、小企業PMI分別為48.4、47.5,較上一月下降1.3與1.4個百分點,且跌入緊縮區間。
疲軟局面擴及供需兩端,製造生產指數下降1.9個百分點至49.8,顯示製造業生產活動放緩。新訂單指數下降1.1個百分點至49.4,顯示製造業市場需求景氣下滑。
高科技製造業PMI51.3,顯示儘管整體製造業活動萎縮,但該類別仍維持擴張。
中國官方數據也顯示,反映營建與服務業景氣的非製造業PMI從9月的50.2降至49.7,其中,建築商業活動指數48,較上一月下降2.3個百分點。服務業商業活動指數50,較上一月下降0.2個百分點。
反映非製造業市場需求景氣的新訂單指數下降2.1個百分點至44.4,其中,建築業新訂單指數大跌5.7個百分點至40,顯示中國房市仍十分低迷,服務業新訂單指數則下跌1.5個百分點至45.2。
AI outlook — possibilities, not facts
中國政府將推出更多產業支持政策
Likely · Within months

On October 31, the "Let the World Hear Hongqiao" event was held in Minhang District, Shanghai. Through platforms such as Hongqiao Pinhui, it demonstrates the spillover effects of the CIIE, helps multinational companies take root in China, promotes "turning exhibits into commodities", and publishes CIIE consumption maps to activate regional consumption.

The 2026 China·Chengmai International Economic and Trade Fair opened in Chengmai, Hainan. Chengmai is positioned as "the key gateway for Chinese enterprises to go overseas", focusing on five major scenarios such as gaming and cross-border e-commerce. Through free trade port policies and an efficient business environment, Chengmai attracts corporate investment and helps them expand the global market.

On October 30, China and Switzerland signed a protocol to upgrade the free trade agreement in Beijing. The two sides have reached an agreement in the fields of goods trade, digital trade and sustainable development, marking that the economic and trade cooperation between the two countries has shifted from focusing on tariff concessions to focusing on both tariffs and rules, providing enterprises with broader market opportunities.

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The 33rd APEC Leaders’ Informal Meeting will be held in Shenzhen in November. Guangdong's private enterprises are promoting the transformation of foreign trade from simple exports to deep symbiosis through high-end manufacturing, technology sharing and localized ecological construction. Guangdong's exports to APEC economies performed strongly in the first three quarters of this year.

Hong Kong's economic growth could reach its strongest in five years, following a 5.1 percent expansion in the first half driven by robust exports and investment, according to Financial Secretary Paul Chan Mo-po.