China’s manufacturing sector continued to expand in January, according to two industry surveys, although producer prices also rose sharply, the Wall Street Journal reported. The HSBC China Manufacturing Purchasing Managers Index (PMI) reached a record high of in January, up from in December. It is the fourth straight month that the index has posted an increase. A reading above indicates an expansion in manufacturing. A separate PMI released by the China Federation of Logistics and Purchasing (CFLP) was in January. This is down from in December, but the index has now stayed above for consecutive months. Both PMI surveys found that input costs rose in January, with HSBC noting that input price inflation was the strongest since July 2008. "Exports’ positive role in the economic growth will strengthen, but higher costs and more fierce market competition may make the development environment for companies more severe," added Zhang Liqun, a CFLP analyst.