Abstract In November 2016, the China Manufacturing Purchasing Managers Index (PMI) was 51.7%, up 0.5 percentage points from the previous month and continuing the upward trend. In terms of the size of the enterprise, the PMI of large and medium-sized enterprises is 53.4% ​​and 50.1%, respectively.
In November 2016, China's Manufacturing Purchasing Managers' Index (PMI) was 51.7%, up 0.5 percentage points from the previous month and continuing its upward trend. 
From the classification index, among the five sub-indices that constitute the manufacturing PMI, the production index and the new order index are above the critical point, and the employee index, raw material inventory index, and supplier delivery time index are below the critical point.
The production index was 53.9%, up 0.6 percentage points from the previous month. It rose for four consecutive months and continued to be above the critical point, indicating that manufacturing production continued to accelerate.
The new order index was 53.2%, up 0.4 percentage points from the previous month and rising for two consecutive months, above the critical point, indicating that the manufacturing market demand maintained growth.
The employee index was 49.2%, up 0.4 percentage points from the previous month and still below the critical point, indicating that the manufacturing industry's labor consumption has decreased, but the decline continues to narrow.
The raw material inventory index was 48.4%, up 0.3 percentage points from the previous month and still below the critical point, indicating that the decline in the main raw material inventory of the manufacturing industry has narrowed slightly.
The supplier's delivery time index was 49.7%, down 0.5 percentage points from the previous month and falling below the critical point, indicating that the lead time of manufacturing raw material suppliers has slowed down.
China's Manufacturing Purchasing Managers Index (PMI) for November 2016 released by the China Federation of Logistics and Purchasing and the National Bureau of Statistics Service Industry Research Center was 51.7%, up 0.5 percentage points from the previous month. From the 12 sub-indices, compared with the previous month, the finished goods inventory index, the supplier delivery time index, and the expected index of production and operation activities declined, and the other nine indexes all increased. Among them, among the three indexes that fell, the expected index of production and operation activities fell by a large margin, reaching 3 percentage points, but the index level remained high, staying above 55%; the new index of new export orders and the increase of the purchase price index More than 1 percentage point, the rest of the index rose by 1 percentage point.
Special analyst Zhang Liqun believes: "The PMI index continued to improve in November after a significant increase in October, and has remained above the line for four consecutive months. The signal of economic growth has been relatively clear. The index of finished goods inventory has declined. The increase in raw material inventory and purchasing volume index indicates that the company's supplementary inventory activities tend to increase. Comprehensive judgments have a higher probability of maintaining a stable economic growth in the future."
The production index was 53.9%, up 0.6 percentage points from the previous month. In terms of enterprise scale, the production index of large and medium-sized enterprises is higher than 50%, which is 57.1% and 50.9 respectively; for small enterprises, it is lower than 50%, which is 46.4%.
The new order index was 53.2%, up 0.4 percentage points from the previous month. In terms of enterprise scale, the new orders index of large and medium-sized enterprises is higher than 50%, which is 55.8% and 51.2% respectively; for small enterprises, it is lower than 50%, which is 46.2%.
The new export order index was 50.3%, up 1.1 percentage points from the previous month. In terms of enterprise scale, the new export orders index of large enterprises is higher than 50%, which is 51.6%; for medium and small enterprises, it is lower than 50%, which is 48.4% and 43.2% respectively.
The backlog index was 46.7%, up 0.9 percentage points from the previous month. In terms of firm size, the backlog index of large, medium and small enterprises is below 50%, which is 47.7%, 45.5% and 44.5% respectively.
The finished goods inventory index was 45.9%, down 1.0 percentage point from the previous month. In terms of enterprise scale, the inventory index of finished products of large, medium and small enterprises was less than 50%, which were 46.7%, 45.1% and 44.3% respectively.
The purchase volume index was 52.9%, up 0.5 percentage points from the previous month. In terms of enterprise scale, the purchasing volume index of large and medium-sized enterprises is higher than 50%, which is 55.4% and 51.3%, respectively; for small enterprises, it is lower than 50%, which is 45.6%.
The import index was 50.6%, up 0.7 percentage points from the previous month. In terms of enterprise scale, the import index of large enterprises is higher than 50%, which is 51.5%; for medium and small enterprises, it is lower than 50%, which is 48.1% and 48.6% respectively.
The purchase price index was 68.3%, up 5.7 percentage points from the previous month. In terms of enterprise scale, the purchase price indices of large, medium and small enterprises are all higher than 50%, which are 69.5%, 67.5% and 65.0% respectively.
The raw material inventory index was 48.4%, up 0.3 percentage points from the previous month. In terms of enterprise scale, the raw material inventory indices of large, medium and small enterprises are all below 50%, which are 49.3%, 48.2% and 45.2% respectively.
The employee index was 49.2%, up 0.4 percentage points from the previous month. In terms of enterprise scale, the index of employees of large, medium and small enterprises is less than 50%, which are 49.8%, 48.5% and 48.2% respectively.
The supplier's delivery time index was 49.7%, down 0.5 percentage points from the previous month. In terms of enterprise scale, the supplier's delivery time index of large enterprises is higher than 50%, which is 50.0%; for medium and small enterprises, it is lower than 50%, which is 49.8% and 48.3% respectively.
The expected index of production and operation activities was 55.5%, down 3.0 percentage points from the previous month. In terms of enterprise scale, the expected index of production and operation activities of large and medium-sized enterprises is higher than 50%, which is 58.0% and 53.1%, respectively; for small enterprises, it is lower than 50%, which is 49.7%.
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