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China's progress in economic resumption on Aug 14
Updated: August 14, 2020 16:30 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:

— 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 on Aug 14.

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), 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.

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