"China's Manufacturing Downturn Deepens with PMI Slump in December"
China's manufacturing Purchasing Managers' Index (PMI) fell to 49 in December, indicating a contraction in the sector. Despite this, the non-manufacturing PMI showed slight expansion. The decline in manufacturing PMI is attributed to off-season production and insufficient demand. However, with the implementation of policies aimed at boosting domestic demand and deepening supply-side structural reforms, there is optimism for economic recovery. The National Development and Reform Commission (NDRC) is focusing on leveraging China's large market to improve domestic demand and integrate it with supply-side reforms.