China's Caixin manufacturing PMI drops in September

BEIJING — Manufacturing activities at smaller Chinese enterprises expanded at a slower pace in September, a private survey showed on Saturday.

The Caixin China General Manufacturing Purchase Managers' Index (PMI) stood at 51 for September, down from a six-month high of 51.6 in August, according to the survey conducted by financial information service provider Markit and sponsored by Caixin Media Co Ltd.

This came after official survey showed China's manufacturing sector expanded at a faster pace this month, as PMI data compiled by the National Bureau of Statistics came in at 52.4, hitting the highest level since May 2012.

The Caixin survey samples over 500 companies in China and mainly focuses on small and medium-sized firms.

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