Mainland China's official manufacturing PMI for March exceeded expectations. Citigroup: First quarter economic growth forecast is likely to be revised upward

The manufacturing PMI for March in mainland China is 50.4, exceeding market expectations, indicating that economic growth is likely to be revised upward. Citigroup pointed out that rising oil prices may lead to an increase in the producer price index and inflation, predicting that the PPI will turn from decline to rise in March. JPMorgan believes that improvements in various PMI indicators suggest that the real economy is stabilizing, but conflicts in the Middle East may affect future data. The unofficial manufacturing PMI is 50.8, which, although lower than expected, is still in the expansion range. The overall economic growth target is 4.5% to 5%, facing challenges from rising costs