China's PMI is composed of new orders index (20%), production index (25%), employment index (20%), supplier delivery index (15%) and raw materials inventory index (10%). Benchmark reading of PMI is 50, above which suggests business expansion in the industry. There are two PMI data in China, one of which is official and the other is published by Caixin. The former represents large enterprises while the latter represents private enterprises.
Caixin Manufacturing PMI2022-0446.00
China Official PMI2022-0447.40