The global manufacturing purchasing managers' index (PMI) for October remained unchanged from the previous month at 48.8, marking the fourth consecutive month below the 50 threshold, according to the data released by the China Federation of Logistics and Purchasing (CFLP) on Wednesday.
The data signals continued weakness in the sector.
The manufacturing PMI of Asia rose slightly for two consecutive months, reaching 51. In contrast, the figures of Europe and America were both below 48, indicating relatively low levels. Africa failed to continue the upward trend of the previous month, with its manufacturing PMI falling below 50.
Experts said that geopolitical conflicts, trade frictions and high debts are uncertainties that hinder the recovery of the global economy. Under these factors, the foundation for the sustained and stable recovery of the global economy is still not solid.
Global economic recovery remains weak as manufacturing PMI stays flat
China's Ministry of Commerce has set up a dedicated exhibition zone for African products at the going 7th China International Import Expo (CIIE) to facilitate discussions between Chinese purchasers and African exhibitors to help the African countries tap into the vast Chinese market, said an official with the ministry at the expo.
It is part of the efforts to implement the 10 partnership action plans proposed by Chinese President Xi Jinping during the 2024 Summit of the Forum on China-Africa Cooperation (FOCAC) held this September, according to Shen Xiang, director of the Department of West Asian and African Affairs of the ministry.
The 10 partnership action plans cover the areas of mutual learning among civilizations, trade prosperity, industrial chain cooperation, connectivity, development cooperation, health, agriculture and livelihood, cultural and people-to-people exchanges, green development, and common security.
"To implement the 10 partnership action plans and support the expansion of imports from Africa, the Ministry of Commerce has established a dedicated African product zone at this year's CIIE, facilitating engagement between domestic buyers and African exhibitors to help African nations seize the opportunities within the Chinese market," Shen said.
"In recent years, guided by the cooperation framework reached at the FOCAC, China has implemented measures such as setting up green channels for importing African agricultural products and organizing numerous trade and investment matchmaking events, promoting comprehensive agricultural cooperation across the entire industry chain. We have also launched online shopping festivals featuring quality African products to maximize the positive impact of e-commerce on the sales of African agricultural goods," he said.
"The scale of imported agricultural products from Africa has seen positive growth for seven consecutive years, and China has become the second-largest export destination for African agricultural products. High-quality African specialty products are increasingly recognized by Chinese consumers, effectively meeting the diverse demands of the domestic market," Shen added.
Running from Nov. 5 to 10 under the theme of "New Era, Shared Future," the 7th CIIE has attracted participants from 152 countries, regions and international organizations.
Among them, nearly 3,500 exhibitors from 129 countries and regions are taking part in the business exhibition, while a record number of 297 Fortune Global 500 companies and industry leaders are attending the event.
As the world's first national-level import-themed expo, the CIIE is held annually at the National Exhibition and Convention Center in Shanghai.
Since its first edition in 2018, this expo has become an important stage spotlighting China's new development paradigm, a platform for high-level opening-up and a public good for the whole world.
China sets up dedicated exhibition zone to promote African products at ongoing 7th CIIE: official
