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China's progress on economic resumption on July 3
Updated: July 3, 2020 20:58 Xinhua

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 services trade fell in the first five months this year amid the COVID-19 epidemic, but the trade structure kept improving with a narrowing deficit, according to the Ministry of Commerce.

The services trade totaled 1.87 trillion yuan (about $264.8 billion) during the period, down by 14.6 percent year-on-year.

Meanwhile, the services trade deficit stood at 350.08 billion yuan, dropping by 285.15 billion yuan from the same period last year.

— China will allow special local government bonds to appropriately support small and medium-sized banks in replenishing capital, in the latest move to strengthen financial support for enterprises.

The country will focus on improving financial services offered to micro, small and medium-sized enterprises, according to a State Council executive meeting.

The meeting has decided to grant certain quota to local governments this year to explore new capital replenishment channels for the banks, including subscriptions for convertible bonds.

— China's top economic planner has allocated 1.05 billion yuan to support the high-quality development of the Xiongan New Area.

The fund will be invested into major projects related to sanitation, infrastructure construction and ecological protection in the area, according to the National Development and Reform Commission.

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