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2020 - 10 - 29
The profits of China's major industrial enterprises grew 10.1 percent year-on-year in September, marking the fifth straight month of profit growth, as policy measures to offset the economic impact of the COVID-19 outbreak have achieved significant results, the National Bureau of Statistics said on Tuesday.Analysts said the uptick pointed to a sound recovery and the resilience of China's industrial economy, and the improvements in both supply and demand are likely to continue driving the sales of industrial companies in the coming months.According to the bureau, the profits of China'...
2020 - 10 - 16
A European economic research report expects China to be the only major economy to report positive growth in 2020, while the global economy is predicted to contract by 4.4 percent, signaling a steady recovery for the world's second-largest economy in the post-pandemic era.Among the world's major economies, only China is expected to achieve a positive growth of 2.3 percent this year, while the economies of the US and EU are expected to shrink by 6.5 percent and 8.4 percent, respectively, according to a research report released by Germany's Ifo Institute and the EconPol Europe researc...
2020 - 10 - 12
Since its founding in 1949, the People's Republic of China has taken off to become a global superpower in the past seven decades. The country has written a chapter in economic books with its distinctive growth model.Below are graphics examining the foreign trade transformation of the world's second largest economy. China journeyed from residing within the socialist camp to being considered 'the factory of the world,' before carrying on opening up its market by holding import expos and international services trade fairs.The first 30 years of economic development laid the...
2020 - 09 - 28
Playing the role as the driver of Chinese economy, the nation's top 100 cities contributed 70.23 percent of the country's GDP last year, a report said.The top 100 cities created a combined GDP of 69.58 trillion yuan last year, the lion's share of the nation's GDP of 99 trillion yuan, and their development will significantly guide the nation's economy, said a report published by the Warton Economic Instituteon Tuesday in Shanghai.The listing analyzed GDP criteria, including household savings, government revenue, environment, science and education, and culture and health, and...
2020 - 09 - 24
The Chinese economy made a relatively swift recovery after bottoming out in the first quarter of the year due to the COVID-19 pandemic, according to an article published by the European Central Bank (ECB) on Monday.China's economic activity rose from a trough of around 20 percent of normal levels in February 2020 to 90 percent in the span of just three months, ECB analysts said in the article, citing both traditional data and non-conventional high-frequency economic indicators.The article found that the manufacturing sector rebounded earlier than the services sector. While the manufacturin...
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