China's manufacturing activity slipped to its nine-month low in August, sending shivers in the economic sector of the world's second-largest economy.

Inventories jumped as new export orders slumped in August. The HSBC Flash China manufacturing purchasing managers index (PMI) slipped from 49.5 in July to 47.8 in August, its lowest level since November last year.

It should be noted here that a reading of above 50 represents expansion in the sector, while a reading to below 50 stands for contraction.

The survey provides an early hint that the pick-up in economic growth seen over the past months may not have taken deep roots as anticipated.

The new export orders sub-index painted even more bearish picture. The HSBC Flash PMI recorded the new export orders sub-index at 44.7, the worst reading since March 2009.

Markit Economics, which carried out the survey, wrote in a note, "Weaker-than-expected sales contributed to a further rise in holdings of finished goods at manufacturers' plants."

The HSBC PMI has been below the mark of 50 for the last ten consecutive months. Analysts and investors have intensified their urge to the Beijing to take further measures to support struggling economy. However, few expect Beijing to announce a huge stimulus package as it did in 2008. Instead, Beijing is expected to choose to open more sectors to private capital to boost new investment.