Today, the National Bureau of Statistics released the operation of China's Purchasing Managers'Index in July 2023 on its website. 1、 Operation of China's manufacturing Purchasing Managers'Index In July, the manufacturing Purchasing Managers' Index (PMI) was 49.3%, up 0.3 percentage points over the previous month, and the manufacturing boom continued to improve. From the perspective of enterprise scale, the PMI of large enterprises was 50.3%, which is the same as last month; The PMI of medium-sized enterprises was 49.0%, an increase of 0.1 percentage points compared to the previous month; The PMI of small enterprises was 47.4%, an increase of 1.0 percentage points compared to the previous month. From the perspective of sub indices, among the five sub indices that constitute manufacturing PMI, the production index, supplier delivery time index are above the critical point, while the new order index, raw material inventory index, and employee index are below the critical point. The production index is 50.2%, a decrease of 0.1 percentage points from the previous month and still above the critical point, indicating that manufacturing production continues to expand. The new order index was 49.5%, an increase of 0.9 percentage points from the previous month, indicating that the demand boom in the manufacturing market continues to improve. The raw material inventory index was 48.2%, an increase of 0.8 percentage points from the previous month, indicating a narrowing of the decline in the inventory of major raw materials in the manufacturing industry. The employee index was 48.1%, a decrease of 0.1 percentage points from the previous month, indicating that there has been little change in the employment prospects of manufacturing enterprises. The supplier delivery time index is 50.5%, an increase of 0.1 percentage points from the previous month, indicating that the delivery time of raw material suppliers in the manufacturing industry continues to accelerate. 2、 Operation of China's non manufacturing Purchasing Managers'Index In July, the non manufacturing business activity index was 51.5%, 1.7 percentage points lower than the previous month, still above the critical point, and the non manufacturing industry continued to expand. By industry, the business activity index of the construction industry was 51.2%, a decrease of 4.5 percentage points compared to the previous month; The business activity index of the service industry was 51.5%, a decrease of 1.3 percentage points from the previous month. From an industry perspective, the business activity index of industries such as air transportation, postal express delivery, telecommunications, broadcasting, television, and satellite transmission services, internet software, and information technology services is in the high prosperity range of over 60.0%; The business activity index of industries such as capital market services and real estate is below the critical point. The new order index was 48.1%, a decrease of 1.4 percentage points from the previous month, indicating a decline in the demand boom in the non manufacturing market. Looking at different industries, the new order index of the construction industry was 46.3%, a decrease of 2.4 percentage points compared to the previous month; The index of new orders in the service industry was 48.4%, a decrease of 1.2 percentage points from the previous month. The input price index was 50.8%, an increase of 1.8 percentage points from the previous month, indicating an overall increase in the prices of inputs used for business activities by non manufacturing enterprises. Looking at different industries, the input price index of the construction industry was 50.7%, a decrease of 1.1 percentage points compared to the previous month; The service industry input price index was 50.8%, an increase of 2.2 percentage points compared to the previous month. The sales price index was 49.7%, an increase of 1.9 percentage points from the previous month, indicating a narrowing of the overall decline in non manufacturing sales prices. By industry, the sales price index of the construction industry is 52.0%