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- Manufacturing Hits 3-Year High 🚀, $45M Burger King Deal in China 🍔, AI Patent China Domination 📈
Manufacturing Hits 3-Year High 🚀, $45M Burger King Deal in China 🍔, AI Patent China Domination 📈
Welcome back to this week’s edition of the China Insights Weekly Newsletter!
Image: Midjourney
Key takeaways this week
• Manufacturing PMI: China’s private sector hits a three-year high at 51.8.
• USD 45M Investment: Restaurant Brands International ramps up its presence in China.
• 38,210 AI Patents: China leads global innovation, dwarfing US and European figures.
Dive deeper into these stories and more by clicking the headlines below. We value your feedback—let us know your thoughts or suggestions!
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🚀 Headlines
China’s private Manufacturing PMI hits 3-year high (link), while the government’s official data sees continued contraction (link)
China’s manufacturing sector increased by 0.1 from the previous month to 51.8, growing at the fastest pace since May 2021 on strong production and stabilizing employment. However, manufacturers became less optimistic about the outlook, a Caixin-sponsored survey of private medium-sized companies showed.
The official large and state-owned company-focused NBS Manufacturing PMI in China stood at 49.5 in June 2024, holding steady for the second straight month and aligning with market forecasts. The latest result marked the fourth time factory activity contracted this year.
Burger King parent Restaurant Brands International signs two deals to bolster presence in China (link)
Canada-based Restaurant Brands International (RBI) says it's spending up to USD 45 million on two deals intended to boost its presence in China and spur growth in what the company sees as a promising market. The parent company behind Tim Hortons, Burger King, Popeyes Louisiana Kitchen, and Firehouse Subs says the first USD 15 million deal will see it acquire Popeyes China from Tims China, which operates 14 Tim Hortons franchises in the country. RBI also plans to partner with Cartesian Capital to invest up to USD 50 million in Tims China via three-year convertible notes, of which it will receive up to USD 30 million.
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🏞️ China Snapshot
Mingsha Mountain and Crescent Moon Spring, Dunhuang, Gansu. Where nature’s artistry meets ancient serenity. These towering dunes and the tranquil oasis at their base have been a crossroads of cultures on the Silk Road for over a thousand years.
Did you know, the Crescent Moon Spring has been an oasis for travelers of the Silk Road since ancient times?
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