text: China manufacturing PMIs and quarterly GDP growth (Source: BIMCO, National Bureau of Statistics China, IHS Markit/Caixin) Note: The official PMI, compiled by the China Federation of Logistics and Purchasing (CFLP) and the China Logistics Information Centre (CLIC), leans toward the larger and state-owned enterprises, and the second measurement of Chinese PMI, compiled by Markit and Caixin, leans toward the private sector and the small and medium-sized enterprises.