China's PMI was 54.3% in September, up 0.3% from last month, indicating China's economy maintained its growth momentum in September, according to the release from China Federation of Logistics and Purchasing.

Following international convention, the PMI index above 50 indicates economic expansion and below 50 indicates contraction. Different from the U.S. PMI that showed a surprise drop, China's PMI showed steady increase. The September reading is the highest since May. By sector, the index was above 50 for 15 of the 20 sectors the index covers.

Zhang Liqun, a researcher with the Development Research Center of the State Council, said the steady increase of the PMI index showed the continued recovery of China's economy. Together with the increase of income and employment, he said the recovery will continue and China's economic growth may also accelerate. On the other hand, he cautioned that the growth was mainly due to the government's pro-growth policies and its stimulus investment, the transition from government centered growth to private sector and consumer based growth has not been completed yet.