Factbox: China’s progress on economic resumption

As efforts to contain COVID-19 continue, China is steadily reviving its economy. The following facts and figures indicate how the country is forging ahead in the economic sphere:

— The balance of domestic and foreign-currency loans in the Yangtze River Delta region accounted for 41.22 trillion yuan (about 5.81 trillion U.S. dollars) at the end of May, up 14.8 percent year on year, official data showed.

According to the Shanghai head office of People’s Bank of China, as of the end of May, the balance of RMB loans was 40.08 trillion, up 14.8 percent year on year, registering an increased growth of 0.5 percentage points compared to the previous month.

Meanwhile, the balance of foreign-currency loans in the region hit 160.3 billion U.S. dollars, up 11.6 percent year on year.


— Authorities have begun using China-Europe trains to transport international parcels between Europe and Wuhan, capital of central China’s Hubei Province.

A freight train carrying goods, such as domestic appliances, automobile parts and ornaments, departed Wuhan over the weekend. The train was loaded with 10,710 parcels weighing 2.75 tonnes.

According to China Railway Wuhan Group Co., Ltd., the shipment will take 13 days to reach Malaszewicze, Poland, before being dispatched to Britain, France and Germany.

— Southwest China’s Chongqing Municipality plans to shore up its digital economy by fostering innovative enterprises and industrial clusters by 2022.

Chongqing’s digital economy is expected to reach 1 trillion yuan by 2022, accounting for more than 40 percent of the city’s gross domestic product (GDP) and contributing over 60 percent to the total GDP growth, according to the municipal government.

ABF media

The city also plans to invest 398.3 billion yuan between 2020 and 2022 in a series of new infrastructure projects to stimulate the integration of the digital economy with the real economy.

Source: en.people.cn


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