China's Purchasing Managers Index (PMI), a barometer of the country's manufacturing activity, rebounded to 50.5 percent in January 2012 from 50.3 percent in December 2011, said the China Federation of Logistics and Purchasing (CFLP).

"The figure is a signal that the Chinese economy remains on a solid footing, with both industrial production and consumption stabilizing," said the CFLP. "But the positive development is in part due to impact of the Spring Festival and the long-term trend remains to be seen."

The new orders sub-index, an effective gauge of domestic demand, stood at 50.4 percent in January, compared with 49.8 percent in December 2011.