China’s progress on economic resumption

7 July, 2020 12:00 AM printer

BEIJING: China is steadily reviving its economy as the country strives to contain COVID-19. The following facts and figures indicate how the country is forging ahead in resumption of work and production:

China's fixed-asset investment (FAI) in railways reported growth in the first six months of 2020 despite the adverse impact of the COVID-19 epidemic, said the China State Railway Group Co., Ltd. Sunday, reports Xinhua.

The FAI in national railway projects came in at 325.8 billion yuan (about 46.1 billion U.S. dollars) in the first half of this year, edging up 1.2 percent year on year.

Among all projects, investment in railway infrastructure rose 3.7 percent year on year to 245.1 billion yuan, with 1,178 km of railways newly put into operation as of July 1.

-- Logistics demand in China improved in the first five months of 2020 on the back of supporting policies to coordinate economic growth and the control of the COVID-19 epidemic, according to the China Federation of Logistics and Purchasing.

The total value of social logistics in the January-May period fell 2.2 percent year on year to 96.9 trillion yuan. The drop narrowed from the 4.2-percent decline seen in the first four months.

-- China's electronic information manufacturing sector saw revenue and profit expansion in the first five months of the year as work and production resumption presses ahead, data from the Ministry of Industry and Information Technology showed.

Total profits of firms with annual revenue of more than 20 million yuan surged 34.7 percent year on year, while the operating revenue of the firms rose 1.3 percent, rebounding from the 1.6-percent decline in the first four months.

Value-added output of major electronic information manufacturers registered 3.7-percent yearly growth in the January-May period, while fixed-asset investment in the industry grew 6.9 percent year on year, 0.7 percentage points higher than the same period of last year.