AGP Executive Report
Last update: 7 minutes agoEconomic Outlook: China’s manufacturing PMI fell to 49.3 in October, below the 50-point line separating growth from contraction; services activity also slipped, while high-tech manufacturing continued to expand. The weak readings add pressure on policymakers to support demand. Trade: China and Switzerland signed an upgraded free-trade deal that will bring tariffs to zero on more than 99% of imports, while President Xi urged closer economic ties with Germany amid EU trade tensions. Technology: Alibaba and Apple plan to bring Alibaba’s Qwen AI model to Apple Intelligence features in China, with testing due to start in November. Markets: Chinese stocks posted their steepest monthly loss since 2016 amid an AI-led selloff, even as the yuan climbed to a four-year high. Industry: China’s marine economy grew 4.9% in the first three quarters, with shipbuilding orders and marine engineering equipment among the bright spots.
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