In 13 months, China's March factory activity has been at its strongest, according to a Caixin survey.

In March, China's factory activity expanded at its strongest pace in over a year, according to a private survey, indicating signs of stabilizing growth in the world's second-largest economy.

In March, the Caixin China manufacturing purchasing managers' index was 51.1, its strongest reading since February 2023, after registering 50.9 in February. Economists had predicted the index to reach 51, according to a Reuters poll. The 50-point mark separates expansion from contraction.

Official data exceeded market expectations and reached its highest point in 11 months, while a non-manufacturing activity survey in China recorded its strongest reading since June.

The National Bureau of Statistics of China released survey data on Sunday, indicating that the country's official manufacturing PMI came in at 50.8 in March, which is the strongest reading since March last year and also exceeded expectations for 49.9 in a Reuters poll.

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