Manufacturing expands amid policy push

China's manufacturing activity expanded last month for the first time in half a year, official data showed on Thursday, as stimulus measures boosted production and revived confidence, boding well for fourth-quarter economic momentum and the full-year growth outlook.

Nevertheless, analysts said that it may still be too early to conclude that the Chinese economy had fully bottomed out, as the challenges of insufficient demand and property woes persisted, making intensive stimulus that is "rare in a noncrisis period" still likely in 2025.

Wen Bin, chief economist at China Minsheng Bank, said, "With additional policies to be introduced and synergistic policy effects to unfold, the economy is on track for stable growth in the fourth quarter after factory activity improved in October."