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China's progress in economic resumption

(Xinhua)    10:27, July 28, 2020

China's success in controlling the COVID-19 epidemic means the economy is steadily reviving. The following facts and figures indicate how the country is forging ahead in resuming work and production:

-- Recovery of China's software industry has picked up momentum, with profits in the first half of the year (H1) seeing a turnaround, according to the Ministry of Industry and Information Technology (MIIT).

During the first six months, software industry profits rose by 1.3 percent year on year to 424.1 billion yuan (about 60.67 billion U.S. dollars), ending a five-month declining streak and showing a gradual recovery in the sector hurt by the COVID-19 epidemic.

Companies in the sector raked in nearly 3.56 trillion yuan in revenue from Jan.-June, up by 6.7 percent year on year.

-- China's transport industry saw steady recovery in H1, with some key indicators continuing to improve, data from the Ministry of Transport showed.

China's fixed-asset investment in transportation reached 1.45 trillion yuan during the first half of the year, an increase of 6 percent from the same period last year.

Specifically, investment in highways and waterways exceeded 1.08 trillion yuan in the Jan.-June period, accounting for 60.2 percent of the total investment planned for 2020.

-- China's telecommunications industry reported steady growth in H1, official data showed.

The combined revenue of the sector reached 692.7 billion yuan during the period, up by 3.2 percent year on year, according to the MIIT.

Revenue from fixed-line communications of the three telecom giants -- China Telecom, China Mobile, and China Unicom -- totaled 236.3 billion yuan in the period, rising by 12 percent year on year.

The steady growth in the sector's business revenue indicated that China's economic recovery, and the development of new applications and new business models, are gaining momentum, said Huang Libin, a spokesperson with the ministry.

(For the latest China news, Please follow People's Daily on Twitter and Facebook)(Web editor: Wen Ying, Liang Jun)

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