China’s official manufacturing gauge rose to a six-month high in May, but the downside pressure remains high, said the Chinese National Bureau of Statistics.

Portugal’s Novo Banco is likely to be acquired by a Chinese owner. Several Chinese firms have offered higher bids than other contenders, according to media reports.

Angolan President José Eduardo dos Santos is expected to visit China “very soon”. According to Portuguese news agency Lusa, the news was given by the Chinese Ambassador in Luanda, Gao Kexiang, who also sent the President a message from Chinese President Xi Jinping.

A delegation of Cape Verdean officials and business representatives will visit China this week aiming to attract Chinese investments in the archipelago, local newspaper A Semana reported.

A Brazilian trade mission will visit China this month to promote Brazil’s beef exports. Some firms from that country last month received authorisation to sell there, Chinese state-run news agency Xinhua has reported.

In the short term, China is interested in opening branches of some of its banks in Angola, as part of the economic co-operation between the two countries. The news was given on Thursday in Beijing by the Chinese counterpart of the Joint Commission on Bilateral Cooperation between China and Angola.

China will give priority to financing energy and agriculture infrastructure projects in Angola as part of an ongoing bilateral co-operation, Angola news agency Angop reported.

There should be “closer co-operation” among the customs authorities of countries along what China has dubbed the new ‘Silk Road’ in order to improve trade, said Chinese Vice Premier Wang Yang. The ‘Silk Road’ is a reference to modern countries whose territories make up what was once an historic trade route linking China and the West.

Chinese Premier Li Keqiang’s recent visit to four countries in Latin America, including Brazil, ushers a new era for bilateral co-operation, Chinese Foreign Minister Wang Yi said, quoted by China’s official news agency Xinhua.

Chinese President Xi Jinping on Wednesday highlighted the role of economic reforms in China’s overall development. Mr Xi said that reform is key to boosting such progress and that China should maintain its “strategic focus”.

Angola is to start next month a US$750 million project to produce ethanol and sugar, Bloomberg News reported.

Chinese Premier Li Keqiang’s tour of South America brings China and Brazil closer together, said Ronnie Lins, director of the China-Brazil Centre. Mr Li’s tour concluded this week.