The latest economic data from the Mainland show that the central government has repeatedly pushed forward economic stimulus measures to cope with the downward economic pressure brought about by the warming trade war between China and the United States, which seems to aggravate the "national progress and civil retreat". How to pass on the economic strength to small and medium-sized enterprises remains an unsolved problem.
The purchasing managers index (PMI) of China's manufacturing sector fell to 50.6 in August, a 14-month low, but was still in an expansion range, with the momentum slowing significantly and the new orders index reaching a 15-month low. Trade war is heating up, resulting in weak external demand.
Caixin PMI and official PMI released last Friday were 51.3, up 0.1 percentage points. The official PMI is targeted at large and medium-sized enterprises, including state-owned enterprises, while Caixin PMI is targeted at small and medium-sized private enterprises. The two trends are different. Large-sized enterprises are operating well, but the pressure on small and medium-sized private enterprises is only increasing, which may reflect the role and side effects of the central government in stabilizing the economy.

<>: trade war is now affecting the real economy.

 

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