BEIJING--The Caixin China manufacturing purchasing managers' index, a private gauge of nationwide factory activity, rose to 51.2 in October from 50.1 in September, staying out of the contractionary territory for a fourth straight month, Caixin Media Co. and research firm Markit said Tuesday.

The 50 level separates an expansion in manufacturing activity from a contraction. October's reading is the highest since July 2014, Caixin said.

Both production and new orders grew at a faster pace in October than September, Caixin said.

"The economy seems to be stabilizing for the moment, owing primarily to policies implemented to sustain growth," said Zhengsheng Zhong, an economist at CEBM Group.

China's official manufacturing PMI, a competing gauge, also rose to 51.2 in October from 50.4 in September, according to data from the National Bureau of Statistics on Tuesday.

The Caixin China Manufacturing PMI is based on data compiled from monthly replies to questionnaires sent to purchasing executives at more than 400 manufacturing companies.

Write to Liyan Qi at

(END) Dow Jones Newswires

October 31, 2016 22:17 ET (02:17 GMT)

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