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Manyika Kangai
China Highway Collapse
AT about 2:10am on Wednesday, one side of the four-lane Meizhou-Dabu Highway in Meizhou City, Guangdong Province, collapsed after a month of heavy rains.
The disaster has caused 48 deaths and 30 injuries. China’s President Xi Jinping gave instructions that every effort be carried out for on-site rescue, treatment of the injured, and repairing the damaged roads.
China’s Manufacturing PMI
China’s Purchasing Managers’ Index (PMI) for the manufacturing sector was 50.4 in April, down from 50.8 in March, according to official data released by the National Bureau of Statistics (NBS) on Tuesday.
A reading above 50 indicates expansion, while a reading below 50 reflects contraction.
The manufacturing PMI reading has maintained expansion for two consecutive months.
China’s Major Internet Companies
China’s internet sector saw steady growth in business revenue in the first quarter of this year, according to data from the Ministry of Industry and Information Technology.
In the first three months, China’s major internet companies and related services companies generated 384 billion yuan (about $US 54 billion) in business revenue, an increase of 8.4 percent year-on-year.
China Minmetals Completes Major Acquisition
MMG Limited, a subsidiary company of the mining giant China Minmetals Corporation, has finalised the acquisition of a large-scale copper mine in southern Africa’s Botswana.
Located in southern Africa’s Kalahari Copper Belt, the Khoemacau copper mine has copper reserves of over six million tonnes and mining rights covering an area of more than 4,000 square km.
The company clinched the mine in a deal worth $US1, 8 billion in November 2023.
UAV Industrial Base Commences Production
An industrial base focused on producing Unmanned Aerial Vehicles (UAVs) commenced operations in Zigong City in southwest China’s Sichuan Province, according to the Aviation Industry Corporation of China (AVIC), the country’s leading aircraft manufacturer.
AVIC Chengdu Aircraft Industrial Group and the Zigong municipal government jointly built this industrial base.
As a pioneer in the UAV industrial base, the AVIC (Chengdu) Unmanned Aerial Vehicle System (AVIC UAS) has launched a production line capable of handling the final assembly and tests of up to 200 UAVs annually.
Manyika Kangai has over 15 years of experience facilitating and advising on China-Africa trade and investment deals.
Online Reporter