中国市场的三件事-China_ Three things in China

4 January 2026 | 11:23PM HKT Economics Research China: Three things in China Three quick highlights from China: n Significant rebound in official manufacturing PMI: China's NBS manufacturing PMI rose from 49.2 in November to 50.1 in December, surpassing both consensus and our expectations. This rebound contrasts with declining steel production seen in high-frequency data and the subdued Emerging Industries PMI released earlier. However, it aligns with the typical "quarter-end rebound" pattern observed in 20 ...