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China may lure more global sourcing
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Global buyers may source more products from China in the current quarter as world demand continues to recover gradually, a survey showed yesterday.
The International Sourcing Confidence Index, a gauge of sentiment among multinational companies which source products in China, rose to 51.28 in the third quarter, up from 50.40 in the April-June period, according to the Shanghai International Sourcing Promotion Group Co.
“The global demand has picked up notably after economic performance strengthened in areas like Europe and the United States,” said Xie Zhen, the company’s spokesman. “It helps China’s manufacturers and service providers who still rely much on external demand to survive.”
A reading above 50 means optimism. The survey interviewed more than 200 multinational companies which have a presence in China.
The latest trade data showed that export growth accelerated to 7.2 percent in August from the 5.1 percent gain in July.
Shanghai is hosting the International Sourcing Fair from today to Friday at the ShanghaiMart. The fair is organized by the Ministry of Commerce and the city government.
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