China's RatingDog Manufacturing Purchasing Managers' Index (PMI) for August registered 51.5, an increase of 0.6 percentage points from July's 50.9. This marks the ninth consecutive month the index has been above the 50-point expansion-contraction threshold, representing the longest expansion cycle in nearly five years. New orders grew for the 15th consecutive month, with new export orders seeing their fastest growth in six months. However, there was a divergence in prices: raw material costs accelerated slightly, while manufacturers' ex-factory prices saw their first reduction in 2026, reflecting persistent market competition. Employment remained stable, and overall confidence levels fell to their lowest since January.