Caixin PMI

ACTIVITY in China’s manufacturing sector returned to increase last month after contracting for the first time in nine months in July, according to a widely watched private survey.

The Caixin manufacturing purchasing managers’ index came in at 50.4 in August, up from 49.8 the month before, according to data released Monday by financial media group Caixin. A reading above 50 indicates expansion. The gauge is not in line with the official manufacturing PMI published Monday by the National Bureau of Statistics (NBS), which contracted for the fourth consecutive month to 49.1. The NBS blamed seasonality and extreme weather for the decline.

Hive Box files for IPO

HIVE Box Holdings, the operator of the world’s largest smart delivery locker network, has filed for an initial public offering (IPO) on the Hong Kong Stock Exchange.

The IPO proceedings will be used to promote Hive Box’s market expansion, both in lower-tier cities in China and overseas, reinforce its out-of-home logistics capabilities, and increase investments in research and development and strategic fields, the Shenzhen-based company said in its prospectus filed Aug. 30.

Founded in 2015, Hive Box received investments from China’s four major couriers — SF Holding, Yunda Holding, STO Express, and ZTO Express —and the Chinese arm of Singaporean warehousing firm GLP.

CATL to test eVTOL this year

THE electric commercial aircraft of Contemporary Amperex Technology Co., Ltd, the world’s largest electric vehicle battery maker, will have its maiden flight by the end of this year, said CATL’s founder Zeng Yuqun at a battery conference Sunday.

Zeng disclosed in June that the company plans to launch an 8-ton eVTOL with an expected flight range of around 2,000 to 3,000 kilometers.

Mainland resumes imports of Taiwan citrus fruits

THE General Administration of Customs (GAC) announced plans to resume imports of Wendan pomelos from the Taiwan region starting Monday, ending an import freeze of a little more than two years. The imports should be sourced from registered packing plants and orchards, and meet the inspection and quarantine standards of the mainland, Chen Binhua, a spokesperson for the State Council’s Taiwan Affairs Office, said Monday.