According to the data recently released by the service industry survey center of the National Bureau of statistics and China Federation of logistics and procurement, in December 2021, the purchasing manager index (PMI) of China's manufacturing industry was 50.3%, up 0.2 percentage points from November, higher than the critical point, and the prosperity level of the manufacturing industry continued to rise. Zhao Qinghe, Senior Statistician of the service industry survey center of the National Bureau of statistics, said that with the strengthening of a series of stable economic development policies such as ensuring supply and stabilizing prices and helping enterprises to rescue, the prices of some bulk commodities fell significantly, the cost pressure of enterprises was relieved, and the prosperity level of the manufacturing industry rebounded for two consecutive months. "In December, the manufacturing PMI recorded 50.3, 0.20 percentage points higher than the previous value, and was above the boom and bust line for two consecutive months, indicating that China's manufacturing industry is expanding." Said Zheng Houcheng, director of Yingda Securities Research Institute. Data show that production continues to expand. The production index was 51.4%, down 0.6 percentage points from November, but higher than the critical point, reflecting the continued growth of manufacturing production. Demand has improved. The new order index was 49.7%, 0.3 percentage points higher than that in November, rising for two consecutive months. The price index continued to fall. In terms of industry, high-tech manufacturing industry maintained rapid growth. The PMI of high-tech manufacturing industry, equipment manufacturing industry and consumer goods industry were 54.0%, 51.6% and 51.1% respectively, which continued to be higher than the critical point, and the industry maintained expansion; The PMI of high energy consuming industries was 48.7%, 1.3 percentage points higher than that in November, and the boom level rebounded at a low level. Among them, the new order index and employee index of high-tech manufacturing industry were 56.1% and 51.7% respectively, 2.9 and 1.1 percentage points higher than those in November. The market demand of high-tech manufacturing industry continued to grow rapidly, the employment volume continued to increase, and the industry developed better. Looking forward to 2022, Zheng Houcheng said that it is expected that the fiscal policy will continue to implement new tax cuts and fee reductions for market players to help small, medium-sized and micro enterprises and individual industrial and commercial households reduce their burdens, relieve difficulties and resume development, while the monetary policy will increase financing support for the real economy and promote the financing increment, expansion and price reduction of small, medium-sized and micro enterprises. Gao Ruidong, managing director and chief macroeconomist of Everbright Securities, said that at present, small enterprises are still facing great operating pressure. In the next stage, we need to continue to increase precise support for small and medium-sized enterprises, maintain a moderately loose monetary policy environment, and help the economy continue to repair smoothly. (outlook new era)