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CCTV Script 03/06/13

— This is the script of CNBC's news report for China's CCTV on June 3, Monday.

Welcome to the CNBC Business Daily.

Growing disparity between China's official and HSBC's final PMI figures. While the official reading expanded to 50.8 in May, HSBC's final version slipped to 49.2, down from its flash estimate of 49.6.

Some analysts say that the weak PMI gives rise to worries that the Chinese economy could be on a shaky footing.

Here's what our panel of experts have told us.

[Sound on tape by Frederic Neumann, MD & Co-Head of Asian Economics Research, HSBC:

We suspect that some additional stimulus might be needed, particularly if the authorities impose new reforms. Reforms in themselves, while good in the long term, can actually restrain growth in the short term, so some additional support might be needed just to get the economy through the soft patch while the government imposes new reforms.]

[Sound on tape by Geoff Lewis , Global Market Strategist, J.P. Morgan Asset Management: I think we've seen these divergences before between the two PMIs and the HSBC PMI is more focus towards the smaller, mid-sized companies which are more geared towards exports, which are suffering very, very badly from the global slowdown, particularly the euro zone recession. ]

[Sound on tape by Clay Carter, Head of International Equities, Perennial Investment Partners: The numbers are weak but they're not that weak. But, there's probably still room for the possibility of a rate cut, given where the recent data on inflation sits. I guess if I had to bet, I'd say there's a good possibility of a rate cut - I don't see fiscal stimulus coming our way any time soon. We're in a long bottoming process, that's really where we are, and that's what both those numbers represent.]

But our next guest brushed aside concerns over the weak HSBC PMI, saying that he was still adding to his positions in China.

[Sound on tape by Francis Lun, CEO, GEO Securities: You have a divergence. The official sector relies on fixed asset investment, the private sector relies on exports. Everybody knows that the export sector is not doing that well, that's why you see the HSBC PMI index falling to 49.2. So there's really nothing to worry about.]

I'm Chloe Cho, reporting from CNBC's Asian headquarters.