CHINA's official manufacturing purchasing managers' index (PMI) released by the National Bureau of Statistics rose to an 11-month high of 50.9 in March, above the 50-point level that indicates growth on the month, but below a Reuters poll consensus forecast of 52.0 on account of stronger domestic demand helped China's manufacturing activity to rebound , with new orders up sharply in a sign that the underlying economic recovery is strong enough to weather any risks from patchy export performance.

Growth momentum has been stabilizing, but headwinds remain. The current economic rebound remains fragile, and could falter with tightened monetary policy conditions. The twin PMI surveys suggest the speed of revival in the world's No. 2 economy may not be as brisk as some think, as unsteady foreign demand for Chinese exports remained a constraint.