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A similar survey released Saturday that found manufacturing ticked up slightly. That report by the government-sanctioned China Federation of Logistics and Purchasing found manufacturing edged up to 50.8. The contrasting reports could be a sign of a two-speed recovery. Bigger companies and ones that cater to China's domestic market are more strongly represented by the official PMI while smaller private companies focused on exports are better covered by HSBC and research firm Markit's report.
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