China's Caixin manufacturing PMI registered 50.8 in January, flat from December, staying in the expansionary zone above the breakeven 50 mark for the third month, with pro-growth policies taking effect, the financial publisher said Thursday.

The production sub-index has been above 50 for the fifth time in six months, and the new orders sub-index has been in the expansion range for six consecutive months. External demand reversed falling, with the new export orders sub-index standing above 50 for the first time in seven months.

Caixin's PMI mainly tracks small and medium-sized manufacturers. The official PMI, which was released on Wednesday, typically covers large state-owned companies and rose by 0.2 points to 49.2 in January.