China Factory sees strong growth in August

China's manufacturing sector saw its strongest expansion in more than nine years in August as production and market demand firmed up in the aftermath of the COVID-19 epidemic, a private survey said on Tuesday.

The Caixin China General Manufacturing Purchasing Managers' Index came in at 53.1 in August, the highest since January 2011 and up from 52.8 a month earlier, media group Caixin said in a report. The reading marked the fourth month in a row for the index to rise within the expansionary territory, indicating that the manufacturing sector has recovered at a continuously quicker pace. A reading above 50 indicates expansion, while one below that reflects contraction.

Chinese consumer sentiment perks up

As the COVID-19 epidemic tapers off in the country and pent-up consumption demand gradually unleashes, China's economic recovery in the second half of the year will gain more momentum.

China's national Consumer Confidence Index led 24 countries surveyed including the United States, India and Brazil in August by rebounding to 72.9 points, becoming the only economy to show a gain from January, the world's leading market research company Ipsos reported earlier last week.

Data from the National Bureau of Statistics echoed with the trends. China's retail sales of consumer goods rose by 0.85 percent month-on-month in July, a moderate increase from 0.83 percent in June, maintaining a six-month streak of expansion after a contraction of 10.91 percent in January.

Nordic Xiangyang Online Roadshow Event

Together with the Xiangyang Free Trade Zone and the Wuhan Free Trade Zone, Nordgroup will host an online Nordic company roadshow in mid-November 2020, with the purpose of helping Nordic companies connect with potential Chinese companies.

Qingdao Nordic Business Match-Making Event

Qingdao, as the most important economic city in northern China, has strong development potential in the fields of artificial intelligence and high-end manufacturing.

Nordgroup and Qingdao SME Service Center will jointly organize Nordic China online matchmaking activities in mid-November to link many local SMEs and promote cooperation between Swedish and Chinese companies.