China's factory activity hit a 12-month high in March, as the country ramped up measures to boost the economy in the face of an escalating tariff war with the United States. The official manufacturing purchasing managers' index (PMI) - an indicator of factory activity - rose from 50.

China’s factory activity expanded at the fastest pace in a year in March, welcome news for the world’s No. 2 economy before expected US tariffs that could further strain trade ties.

Chinese policymakers pledged to step up stimulus push to achieve a growth target of "around 5%" this year and cushion the impact of an escalating trade war.