China’s factory activity slows in May, raising questions over its economy

China’s factory activity stalled in May — official PMI slipped to 50 from 50.3, signalling neither expansion nor contraction.
Despite the Iran war and global oil worries, China is relatively insulated thanks to ample reserves and diversified energy supplies.
Exports (notably autos, tech and AI goods to Europe and Southeast Asia) are propping up growth, while domestic demand is weak amid the property slump and a modest 4.5–5% growth target.