BEIJING--HSBC said Friday it is no longer sponsoring releases of the Purchasing Managers' Index globally, ending a cooperation with data provider Markit that has been in place for years.

"It is a 'global exit' for us, not just China," Kristen Carter, HSBC communications manager, told The Wall Street Journal in an emailed statement.

The China HSBC PMIs have been considered a key gauge of China's manufacturing and service sectors. While the official indexes are based on a larger sample of firms, the HSBC surveys focus more on smaller and private firms.

Markit couldn't immediately be reached for comment.

Write to Liyan Qi at liyan.qi@wsj.com

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