The slowdown in China's factory activity in January is also supported by HSBC's private survey, which fell to 50.4 last month from January's two-year high of 52.3.
China's official PMI looks mostly at larger, state-owned companies, whereas HSBC's version focuses more on smaller, private businesses.
Analysts say, a combination of moderating growth and tame price pressures present the biggest headwind for the world's second-largest economy.
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