Growth in China's manufacturing businesses picked up in December to a four-month high thanks to a surge in new orders.

A private survey by Caixin and Market shows the manufacturing Purchasing Managers' Index rose to 51.5 percent last month. That's above the 50 percent threshold separating growth from contraction and the highest since August. Total new orders rose at the strongest pace since August while production climbed to its three-month high. Business sentiment improved slightly as factories expected relatively subdued demand. The data compiler's macroeconomic analysis director Zhong Zhengsheng said the downward pressure on growth this year should not be underestimated from tightening monetary policy and strengthening oversight on local government financing.