Key takeaways: 

• Official action of manufacturing activity in China indicated weaker gain in January, while a private survey revealed compaction in the world's second-largest economy.
• According to official government action, manufacturing move in the world's second-largest economy increased at a slower rate in January than the last month, as the nation's rigid "zero-tolerance" COVID-19 measures set a dampener on economic activity.

China's economy growing at a slower pace: 

According to official government action, manufacturing activity in the world's second-largest economy increased at a slower rate in January than the last month, as the nation's strict "zero-tolerance" COVID-19 actions set a dampener on economic activity.

The purchasing manager's index, followed by China's National Bureau of Statistics, fell to 50.1 from 50.3 in December, persisting the third month of weak development. A particular PMI by the business magazine Caixin revealed that manufacturing activity decreased further, contracting from 50.9 in December to 49.1 in January.

PMI is followed on a 100-point scale in which numbers beyond 50 show activity growing and below indicate a contraction.

According to the official calculation, new orders estimated in a sub-index dropped to 49.3. Although a little slower in January, recent export orders activity persisted in contracting.

Chinese exports have been a constant glowing spot throughout the pandemic.