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China's progress in economic resumption

(Xinhua)    16:38, August 14, 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:

-- China's retail sales of consumer goods, a major indicator of consumption growth, rose 0.85 percent month on month in July, the National Bureau of Statistics (NBS) said Friday.

The figure registered a mild rise from 0.83 percent in June, maintaining a six-month streak of expansion after a contraction of 10.91 percent in January.

In July, retail sales of consumer goods reached 3.22 trillion yuan (about 463.99 billion U.S. dollars), down 1.1 percent year on year, narrowing by 0.7 percentage points from June.

-- China's value-added industrial output went up 4.8 percent year on year in July. On a month-on-month basis, industrial output rose 0.98 percent.

The output by high-tech and equipment manufacturing sectors increased 9.8 percent and 13 percent respectively, both markedly outpacing the overall growth in industrial output.

In the first seven months, industrial output went down 0.4 percent year on year, with the rate narrowing 0.9 percentage points from the January-June period.

-- China's fixed-asset investment (FAI) went down 1.6 percent year on year during the Jan.-July period, narrowing from the 3.1-percent decline in the first half of the year.

In the first seven months, the FAI amounted to 32.92 trillion yuan.

Meanwhile, investment in high-tech manufacturing and services surged 7.4 percent and 9.1 percent year on year, respectively.

-- China's surveyed unemployment rate in urban areas stood at 5.7 percent in July, remaining flat with that of June.

A total of 6.71 million new urban jobs were created in the first seven months of 2020, down 1.96 million from the same period of last year, said the NBS.

The surveyed unemployment rate among those aged between 25 and 59, the majority of the labor market, stood at 5 percent in July, down 0.2 percentage points from June.

-- Foreign direct investment (FDI) into the Chinese mainland, in actual use, expanded 15.8 percent year on year to 63.47 billion yuan in July, according to the Ministry of Commerce.

This marked the fourth consecutive month for the country to witness positive growth in FDI.

During the Jan.-July period, FDI rose 0.5 percent year on year to 535.65 billion yuan, gaining 1.8 percentage points than that of the Jan.-June period.

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

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