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Commenting on the flash PMI data, Chris Williamson, chief business economist at HIS Markit, said, "The flash PMI surveys add to evidence that the US economy is enjoying a strong second quarter. Despite growth cooling slightly in June, the latest numbers round off the best quarter for three years and suggest economic growth has lifted markedly higher than the 2.3 percent rate of expansion seen in the first quarter to well over 3 percent."

Companies like Amazon Web Services and Microsoft technically don’t sell cloud services in China, at least in the same way they have set up data centers and sales organizations in nearly every other corner of the planet. Companies that want to offer cloud services inside mainland China — which is essential for cloud performance reasons thanks to the Great Firewall of China — must register with a local partner.

Compared with Japanese brands, European brands have released more impressive strategies. In 2020 alone, Volkswagen AG and its Chinese partners will invest 1.6 billion euros (.76 billion) in e-mobility in China.

Computer, communication and electronic equipment manufacturing is expected to have the largest number of companies with profit growth. Chemical and machinery companies also expect satisfactory profit growth as China's continued emphasis on industrial restructuring has tackled overcapacity and prompted rising prices in industrial products.

Colin Chinnery records pigeon whistles on top of a building in Beijing. [Photo/China Daily]