BUSINESS China’s manufacturing sector sees rapid recovery

BUSINESS

China’s manufacturing sector sees rapid recovery

People's Daily Online

14:05, September 16, 2020

During the COVID-19 epidemic, China’s manufacturing sector withstood the test posed by the virus, and helped ensure stable global industrial and supply chains.

In August, the country’s exports totaled nearly 1.7 trillion yuan, up 11.6 percent, an increase that has been attributed to the rapid recovery of China’s manufacturing sector.

(Photo/Xinhua)

China has taken the lead in resuming work and production as the pandemic continues to disrupt global industrial and supply chains, said Han Jianfei, a researcher at CCID, a think tank under the Ministry of Industry and Information Technology, adding that the sharp rebound in China’s export growth reflects the resilience of the country’s manufacturing sector.

The country’s manufacturing purchasing managers’ index stood at 51 in August, above the 50-point mark that separates monthly growth from contraction. The sub-index for new orders stood at 52, marking the fourth consecutive month of growth, indicating the continuous recovery of market demand.

High-tech manufacturing has taken a marked turn for the better. In July, the value added by electronic and information manufacturing enterprises above designated size grew by 11.8 percent, up 5.7 percentage points year on year. Furthermore, the exported value by electronic and information manufacturing enterprises above designated size rose by 10.7 percent, an increase of 7.4 percentage points from a year ago.

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