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China's progress in economic resumption on July 27

Updated: Jul 27,2020 07:28 PM    Xinhua

BEIJING — 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), 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 January to 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 January-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.