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China's progress on economic resumption on July 17
Updated: July 17, 2020 19:51 Xinhua

BEIJING — China is steadily reviving its economy as the country has kept COVID-19 under control. The following facts and figures indicate how the country is forging ahead in the resumption of work and production:

— China's centrally-administered state-owned enterprises (SOEs) saw both profit and revenue growth in June, recovering from a COVID-19 downturn, the country's state-asset regulator said on July 16.

Revenues of central SOEs climbed 0.6 percent year-on-year to 2.9 trillion yuan (about $414.8 billion) in June, while net profits hit 166.48 billion yuan, up 5 percent.

— China's insurance industry is offering better support for economic development with generally controllable risks, the country's top insurance regulator said on July 16.

In the first half of this year, premium income of life insurance firms rose by 6 percent year-on-year to 2 trillion yuan, said Wang Xuwen, an official with the China Banking and Insurance Regulatory Commission.

To help combat the COVID-19 epidemic, over 1,400 products from some 70 life insurers extended insurance coverage for their consumers without extra premiums as of the end of May, he said.

— Chinese authorities released a circular aimed at supporting small stores as part of efforts to increase employment, expand consumption, and improve people's livelihoods.

The circular, jointly issued by the Ministry of Commerce and six other government departments, detailed measures to develop 1,000 clusters of small stores nationwide by 2025.

Measures will be taken to promote the transformation and upgrade of small store clusters, said the circular, adding that such stores may extend business hours and digitalize marketing activities to offer residents multiple services.

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