China's official manufacturing Purchasing Managers' Index (PMI) came in at 50.3% in April, a slight decrease of 0.1 percentage points from the previous month, indicating generally stable expansion in the manufacturing sector.

By enterprise size, the PMI for large enterprises was 50.2%, down 1.4 percentage points from March but still above the 50% mark that separates expansion from contraction. The PMI for medium-sized enterprises rose 1.5 percentage points to 50.5%, while the index for small firms increased 0.8 percentage points to 50.1%, both remaining in expansion territory.

Among the five sub-indices composing the manufacturing PMI, the production index and new orders index stayed above the 50% threshold. The raw material inventory index, employment index, and supplier delivery time index all remained below 50%.

The production index stood at 51.5% in April, up 0.1 percentage points from March, signaling accelerated manufacturing output. The new orders index declined 1.0 percentage points to 50.6%, yet remained in expansionary territory, indicating sustained growth in market demand.

The raw material inventory index rose 1.6 percentage points to 49.3%, reflecting a notable narrowing in the decline of inventory levels. The employment index increased 0.2 percentage points to 48.8%, suggesting improved hiring activity among manufacturers. The supplier delivery time index was unchanged at 49.5%, indicating longer delivery times from suppliers compared to the previous month.

China's non-manufacturing PMI fell to 49.4% in April, down 0.7 percentage points from March, pointing to a contraction in non-manufacturing sector activity. The business activity index for the construction sector dropped 1.3 percentage points to 48.0%, while the index for the services sector declined 0.6 percentage points to 49.6%.

Within the services sector, industries such as railway transport, postal services, and telecommunications reported business activity indices above 55.0%, indicating strong expansion. Sectors including wholesale, retail, and residential services, however, recorded indices below the 50% threshold.

The new orders index for non-manufacturing fell 0.7 percentage points to 44.3%, reflecting weaker market demand. The input price index decreased 0.6 percentage points to 51.7%, remaining in expansion territory and signaling continued increases in input costs. The sales price index dropped 1.8 percentage points to 48.1%, indicating a general decline in selling prices.

The composite PMI output index, which covers both manufacturing and non-manufacturing sectors, came in at 50.1% in April, down 0.4 percentage points from the previous month but still above the critical 50% line, suggesting continued overall expansion in Chinese business activity.