30 Sep 2026 00:21:24 ET │ 10 pages Vi e w p o i n t | September's PMIs suggest that the Chinese economy may be finding a cyclical bottom. Manufacturing and non-manufacturing PMIs have both returned to expansion in September, with the strongest gains concentrated in production and construction. With incremental fiscal and monetary support taking effect, we expect policymakers to remain in execution mode. We remain cautious about the prospect of a pivot toward domestic demand. The PBoC appears likely to keep ...