China's Caixin manufacturing PMI hits four-month high in July

BEIJING, Aug. 1 (Xinhua) -- China's manufacturing activities expanded at the fastest pace in four months in July on back of economic stabilization, a private survey showed on Tuesday.

The Caixin China General Manufacturing Managers' Index (PMI) stood at 51.1 for July, up from 50.4 in June, the highest level in four months, according to the survey conducted by financial information service provider Markit and sponsored by Caixin Media Co. Ltd.

A reading above 50 indicates expansion, while a reading below 50 represents contraction.