Going Green

PMI Data

China’s manufacturing sector ex- panded for the 13th straight month in August, the National Bureau of Statistics (NBS) said on August 31. The country’s manufacturing purchasing managers’ index (PMI) came in at 51.7 in August, up from 51.4 in July, according to NBS data. A reading above 50 indicates expansion, while a reading below refl ects contraction.

“The reading, the second highest so far this year, showed a steady up- ward trend of China’s manufacturing sector,” said NBS senior statistician Zhao Qinghe.

Zhao attributed the quickened expansion to improving domestic demand and booming manufactur- ing in consumer goods and hi-tech sectors.

Sub-indices for production and new orders came in at 54.1 and 53.1, respectively, up from 53.5 and 52.8 in July suggesting an improved sup- ply and demand relationship, said Zhao.

The import sub-index rose from 51.1 in July to 51.4 in August, the highest so far this year, according to the NBS.

Equipment manufacturing reported a PMI fi gure of 52.8, higher than the headline manufacturing index of 51.7, indicating a better manufacturing structure.

On the other side of the equa- tion, China’s non-manufacturing sector expanded at a slightly slower pace in August, NBS data showed.

The non-manufacturing PMI came in at 53.4 in August, down from 54.5 in July, according to the NBS. “Though at a slower pace, the performance of China’s non-manufac- turing sector continues to maintain robust momentum,” Zhao said.

Zhao attributed the slower expansion to rainstorms and fl oods in certain regions that affected the construction industry.

The service sector, which ac-counted for more than half of the country’s GDP last year, saw slower expansion in August, with the index standing at 52.6, down from 53.1 in July.

New business orders came in at 50.3 in August, up from 50.2 in July, staying above 50 for the fourth straight month.

The index for the construction industry, which was affected by extreme weather, dropped from 62.5 in July to 58 in August, according to the NBS.

Catering Market

On August 24, Ele.me, China’s largest online catering company, announced that it will take over the food delivery business of Baidu, which operates under the Baidu Waimai brand.

Ele.me, backed by e-commerce giant Alibaba, has 260 million users in 2,000 cities in China. It delivers from 1.3 million restaurants and has 3 million scooter-riding delivery staff. Baidu Waimai has 100 million users and covers 300 cities.

Under the deal, Baidu Waimai will continue to operate under its own brand and management. It will also receive Ele.me shares. Ele. me will provide support for users, fi nance, delivery and logistics.

Zhang Xuhao, CEO of Ele.me, said the deal is fi nanced by Alibaba. “Ele.me and Baidu Waimai will complement each other with their own advantages,” said Zhang.

Samsung Investment

On August 30, Samsung Electronics Co. signed an agreement with the government of northwest China’s Shaanxi Province to expand its chip production capacity in the province. Samsung will inject an initial investment of $7 billion into the second phase of its chip plant in Xi’an, capital of Shaanxi, which will primarily produce advanced fl ash memory chips.

The fi rst phase of the plant at the Xi’an Hi-Tech Industries Development Zone went into operation in May 2014, with a total investment of $10 billion.

The opening of Samsung’s semiconductor project has attracted more than 100 supporting compa- nies to the zone, and the expansion in production capacity is expected to strengthen Xi’an’s role as a major semiconductor industry base.

Power Couple

China’s State Council, the cabinet, has approved a merger between ma- jor power generator China Guodian Corp. and coal producer Shenhua Group, an offi cial statement said on August 28.

The two companies will be restructured to form a new energy investment company, the State- owned Assets Supervision and Administration Commission (SASAC) said on its website.

The move came with little sur- prise, as the listed arms of the firms

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