CHINA China's progress in economic resumption on August 3

CHINA

China's progress in economic resumption on August 3

Xinhua

20:48, August 03, 2020

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File photo by CFP

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 futures market in July continued to report double-digit growth in both trading volume and turnover, industry data showed on August 3.

The trading volume of futures last month stood at 567.65 million lots, with a turnover of 45.42 trillion yuan (about $6.49 trillion), up 36.77 percent and 55.7 percent from the same period last year, respectively, according to the China Futures Association.

In the first seven months of 2020, the trading volume of the market totaled 3.089 billion lots, an increase of 43.69 percent year-on-year.

— China's internet and related sectors have returned to double-digit growth in business revenue and research development in the first half of this year (H1) amid the COVID-19 epidemic, official data showed.

Major internet companies raked in 590.7 billion yuan in the January-June period, up 14.1 percent year-on-year, which is 12.6 percentage points higher than the growth rate registered in the first quarter (Q1), according to the Ministry of Industry and Information Technology.

In H1, the operating profit of the industry snapped the sharp slump in Q1, rising by 2.8 percent year-on-year to 52.2 billion yuan.

— China has seen a rapid increase in loans extended to clean energy, environmental protection and other green sectors in the first half of this year as the country puts more emphasis on green development, central bank data showed.

Outstanding green loans in yuan and foreign currencies reached 11.01 trillion yuan by the end of H1, up 10.8 percent from the beginning of the year, according to the People's Bank of China.

Outstanding loans for green infrastructure projects totaled 5.28 trillion yuan by the end of June, up 11.1 percent from the beginning of the year, the data showed.

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