(Yicai Global) Aug. 3 -- One of the two main gauges of factory activity in China climbed more than expected last month to the highest level since February 2011, indicating that business at small to medium-sized firms is increasing despite the coronavirus pandemic.

The Caixin purchasing managers' index for manufacturing rose to 52.8 in July, from 51.2 in June, according to data released today. Analysts had expected a figure of 51.3. A reading above 50 denotes expansion.

The increase in the private benchmark was in line with the official PMI. That ticked up for a fifth month in a row in July, rising to 51.1 from 50.9 a month earlier, the National Bureau of Statistics said on July 31. That official PMI surveys mostly state-owned companies. 

Editor: Emmi Laine