United News of Bangladesh

China's factory activity expanded at a slower pace in December, official data showed on Tuesday, despite recent stimulus measures and in the face of increasing trade risks. The Purchasing Managers’ Index, based on a survey of factory managers, slipped to 50.1 in December from 50.3 the previous month, the National Bureau of Statistics said Tuesday. It was the third straight monthly reading above 50, a level that indicates an expansion of manufacturing activity. The slowdown in factory activity was due to a “decline in the output component,” according to a note by Capital Economics' Gabriel Ng. Adani Enterprises to sell entire Adani Wilmar “That said, the output price component fell, suggesting downward pressure on prices remains,” he said. Overall, new orders rose to an eight-month high, while the exports order index rose to the highest level in four months, likely helped by US importers rushing to beat higher tariffs that incoming US President Donald Trump may impose on Chinese goods, Ng said. Trump has pledged to impose 10% tariffs on Chinese goods, raising trade risks for China, the world's largest exporter of goods. China is already grappling with a lagging economy, weighed down by reduced consumption and a real estate crisis. A parallel purchasing managers’ index for the non-manufacturing sector, which covers construction and services, rose to 52.2 points up from 50 points in November. The World Bank last week raised forecasts for China's economy growth to 4.9% but warned that reduced confidence among households and businesses, an aging population as well as issues like low consumption and high debt will continue to weigh on China's future growth.

Avery Dennison has launched a manufacturing facility in Bangladesh in partnership with Youngone Corporation. The 2,052-sqm unit, located in the Korean Export Processing Zone (KEPZ) in Chattogram, will enable strong service quality and flexibility to local customers, the partners announced on Sunday.  Chairman and CEO of Youngone Corporation Kihak Sung said the investment in KEPZ will give a competitive edge to Avery Dennison in terms of speed and flexibility to serve its clients with reduced business cost and lead time. “It gives me immense pleasure to welcome Avery Dennison as one of the investors in Korean EPZ (KEPZ), the leading eco-friendly EPZ in this region. Avery Dennison and Youngone will partner on backward linkage industries for apparel and textile,” he said. In today’s fast-paced business world, a “do-it-alone” approach is not the best strategy for growth, Sung said.  READ: Set up spare parts, tools manufacturing units in EZs: Industries Minister Harnessing the strengths and abilities of others from different areas is one of the most strategic ways for businesses to promote innovation and solve complex challenges by merging talent, expertise and technology, he said.  “I’m confident that Avery Dennison, with its high-quality products and international prestige, will grow together with Youngone and other business partners. We’ll extend all possible support and cooperation to Avery Dennison to move forward in achieving its business goal.” Highlighting the potential benefits of this project, Vice President and General Manager, South Asia, Avery Dennison Kenny Liu said this manufacturing unit is a remarkable step forward as they expand their capabilities to serve the local market, as well as global customers.  “We thank Youngone for their support to set up this site within the KEPZ, which enables us to better serve Youngone and our Chattogram customers and support their need for speed in today's highly dynamic market,” Kenny Liu said. READ: Symphony opens handset manufacturing unit  The KEPZ, set up by Youngone in 1999 on the bank of Karnaphuli, hosts the largest (40Mw) rooftop solar project in Bangladesh, to power industrial activities with renewable energy, while over 2.5 million trees have been planted, covering about 400 species.