The Caixin China Manufacturing Purchasing Managers' Index (PMI) for April, released on April 30, declined to 50.4, a drop of 0.8 percentage points from the previous month. This marks the lowest level recorded in nearly three months, signaling a slowdown in the expansion rate of China's manufacturing sector. The decline is attributed to the impact of increased tariffs imposed by the United States, with business sentiment reaching its lowest point since February.