The China Composite Purchasing Managers Index (PMI) is an indicator that measures the level of confidence and production activity among purchasing managers in both manufacturing and non-manufacturing industries. The index is published by the National Bureau of Statistics of China and the China Federation of Logistics and Purchasing, and is published once a month. The Composite Purchasing Managers Index includes two parts: manufacturing PMI and non-manufacturing PMI.

Manufacturing PMI reflects the status of manufacturing production and purchasing activities. An index value above 50 indicates expansion in manufacturing activity, while below 50 indicates contraction. The non-manufacturing PMI reflects purchasing managers' confidence and production activity levels in the services and construction sectors. Similar to the manufacturing PMI, a non-manufacturing PMI above 50 indicates an expansion in production activity in the industry, while a reading below 50 indicates contraction.

The PMI index is an important economic indicator that domestic and foreign investors and policymakers pay attention to because it can provide key information on macroeconomic and industry activities. For example, when the PMI index is at a high level, it indicates that the manufacturing and service industries are growing strongly, and economic growth may accelerate; conversely, when the PMI index is at a low level, it may indicate that economic growth is slowing down or even shrinking.

In recent years, China's comprehensive purchasing managers' index has shown a fluctuating upward trend. According to the latest data, in April 2021, the manufacturing PMI index was 51.1, an increase of 0.2 percentage points from March, and continued to be in the expansion range. The non-manufacturing PMI index was 54.9, an increase of 1.3 percentage points from March, hitting a new high in nearly six years, which also indicated that the development of the service industry and the construction industry continued to improve.

Overall, China's Composite Purchasing Managers Index is one of the key indicators for measuring China's manufacturing and service industries, and can provide policy makers, companies and investors with valuable economic information and predict future economic development trends.