Consumer confidence in China is higher than ever, while in Hong Kong it is well above the global average, according to a survey by marketing research firm Nielsen. China scored 109 points in the Nielsen quarterly consumer confidence survey as Hong Kong rose to 101, with the global average of 93 reflecting a rebound to the highest point since the third quarter of 2007. Any score above 100 is positive. Consumer confidence on the mainland has outscored the global average since the second half of 2006. It was up one point in the second quarter compared to the previous quarter. The survey found 73% of Hongkongers felt the local economy was out of recession, a big increase on the figure of 40% recorded a year earlier. Worldwide, an average of 42% of respondents said their country had left the recession behind. The survey was taken in May, covering 27,000 people in 48 countries.

The Institute of Mechanics, one of the earliest rocket science laboratories, which is part of the Chinese Academy of Sciences (CAS), was demolished illegally on July 17.  Many important historical documents and equipments used in space technology research during the 1950s and 1960s were destroyed. The CAS planned to built a new campus on the site, but the institute had not finished packing. It remains unclear whether the demolition team had misunderstood the deadline and adopted the usual practice of forced demolition to evict occupants, or whether a dispute had erupted between the institute and the leadership, the South China Morning Post reports.

World Expo attendance reached 30 million on the 82nd day of the fair. The organizers expect attendance to be above 400,000 people per day from now until the Expo ends on October 31. This means the Expo will likely achieve the 70 million visitors that was predicted by the organizer before the event began. It took 36 days for attendance to reach 10 million, 59 days to top 20 million and 82 to hit 30 million. After the Expo started, daily attendance was around 300,000 and there were concerns whether the predicted 70 million could be achieved. Since July 5, daily attendance has averaged 440,000, during a period with frequent thunderstorms and high temperatures. Saturdays have been the busiest day at the Expo. The daily attendance record was set on Saturday, July 17, when over 550,000 people turned up, the Shanghai Daily reports.

EU Trade Commissioner Karel De Gucht opened the ’Trade Days’ in the European Pavilion at Expo 2010 in Shanghai on July 22. The two-day event show-cased the importance of developing trade links between the EU and China. Leading European business people and international academics exchanged viewpoints on EU-China trade relations and hosted a tasting of quality traditional food products from Europe. Bonds from Spain and Greece were a good investment for China and would keep their value, Commissioner De Gucht said. He estimated that China had spent around €420 million buying Spanish and Greek bonds, but could not confirm it. “There is no risk at all to the Chinese treasury,” he said in a speech at the Shanghai World Expo. Karel De Gucht: “China is also proving a valuable market for European goods and services. In fact, China is our fastest growing export destination. In the past four years, European exports to China have gone up by 60%. In 2009 China absorbed 7.5% of EU merchandise exports – up from 2.9% ten years earlier – and has been the fastest growing market for EU exports, since trade started to recover.” He also said that China’s procurement policies in particular must become more open and transparent and that China’s “indigenous innovation” policy must not freeze European firms out of the information technology and clean energy sectors.

An over-the-counter (OTC) equity exchange was set up in Shanghai as part of initiatives by the central government to develop Shanghai into a global financial hub by 2020. The exchange was set up by the Shanghai United Assets and Equity Exchange, the Shanghai Zhangjiang (Group) Co and the Shanghai International Group, the investment arm of the Shanghai government. The exchange is located in the Zhangjiang High-Tech Park in the Pudong New Area and will initially help start-up firms in Shanghai and other cities in the Yangtze River Delta region to raise money. China launched its first OTC market in June 2001 in Beijing to accommodate stocks de-listed from the main boards in Shanghai and Shenzhen as well as stocks formerly listed on the Securities Trading Automated Quotations network and National Electronic Trading system.