Factbox: China's progress in economic resumption

Source: Xinhua| 2020-08-31 18:25:41|Editor: huaxia

BEIJING, Aug. 31 (Xinhua) -- China's success in controlling COVID-19 means the economy is in a steady revival mode. The following facts and figures indicate how the country is forging ahead in resuming work and production:

-- The purchasing managers' index (PMI) for China's manufacturing sector decreased to 51 in August from 51.1 in July, the National Bureau of Statistics (NBS) said Monday.

A reading above 50 indicates expansion, while a reading below reflects contraction. It is the sixth month in a row that the figure remained in the expansion territory.

NBS senior statistician Zhao Qinghe said policies of balancing epidemic control and economic development yield notable fruit, and the economy keeps recovering with good prospects.

The PMI for China's non-manufacturing sector came in at 55.2 in August, up from 54.2 in July, the NBS said.

-- Trade financing in China has maintained a sound growth momentum despite a challenging global trade environment in the past two years, according to a report from the China Banking Association.

In 2019, the business volume of international settlement at Chinese commercial banks totaled 6.89 trillion U.S. dollars, a slight decrease from the 2018 level, the report showed.

Favorable factors for the development of the country's trade financing business include progress in the Belt and Road construction, the development of pilot free trade zones, the integration of the Yangtze River Delta, the coordinated development of the Beijing-Tianjin-Hebei Region, the construction of Guangdong-Hong Kong-Macao Greater Bay Area and the internationalization of the yuan, it said.

-- China's fixed-asset investment (FAI) in transport sector rose by 9.4 percent year on year in the first seven months of the year, official data showed.

In the Jan.-July period, total FAI in the sector stood at nearly 1.796 trillion yuan (about 262 billion U.S. dollars), according to the Ministry of Transport.

Combined investment in highways and waterways took the lion's share of the total FAI with an inflow of 1.35 trillion yuan in the period, a year-on-year growth of 12.1 percent. Enditem