The Service Industry Survey Center of the National Bureau of Statistics and the China Federation of Logistics and Purchasing have released the Purchasing Managers' Index (PMI) for China's manufacturing industry in December 2024, which is 50.1% and has remained stable in the expansion range for three consecutive months. The market demand is stabilizing and accelerating its recovery, with particularly impressive growth in consumer demand. In December 2024, the new order index was 51%, an increase of 0.2 percentage points from November 2024, marking the fourth consecutive month of growth. Exports continue to stabilize, with a new export order index of 48.3%, an increase of 0.2 percentage points from November 2024, marking two consecutive months of growth. From a structural perspective, the demand growth rate of the consumer goods manufacturing market has significantly accelerated, and the new order index of the consumer goods manufacturing industry has risen by nearly 1 percentage point compared to November 2024, reaching a good level of over 53%. The production of enterprises has maintained good growth, and the production of the four major industries of manufacturing has expanded. In December 2024, the production index was 52.1%, still stable at a good level of over 52%, indicating that manufacturing production has maintained a stable and rapid growth momentum since the fourth quarter. The production index of the consumer goods manufacturing industry increased by 0.6 percentage points compared to November 2024 to over 53%, indicating an accelerated increase in production activity in the consumer goods manufacturing industry. (New Society)