China manufacturing business sentiment holds firm

Chinese manufacturing activity showed a second month of moderate optimism in April, while the non-manufacturing sector showed a slight dip in confidence but stayed positive, official data showed on Friday.

The state-sanctioned purchasing managers' index (PMI) for April held at 50.1 in the manufacturing sector, matching its index of 50.1 in March, and up from 49.9 in February.

A figure above 50 generally means a positive outlook in the manufacturing sector, while below 50 is taken as a negative reading.

China's service sector activity also showed positive sentiment in April, but less than in previous months, dpa quoted a report released by the National Bureau of Statistics and the China Federation of Logistics and Purchasing as saying.

The purchasing managers' index (PMI) for the non-manufacturing sector fell to 53.4 in April from 53.7 in March and 53.9 in February, state media reported.