News News

Manufacturing in spotlight as recovery from epidemic gathers speed

日期: 2020-08-29
浏览次数: 1

More efforts will be put into the coordinated development and resumption of manufacturing in the second half of the year to offset the impact brought by the COVID-19 pandemic, according to a top industry regulator.

'Accelerated steps will be made to maintain the stability of the industrial and supply chains. The country will also step up efforts in helping small and medium-sized enterprises to tide over difficulties, drive technological innovation as well as bring about digital transformation and upgrading,' said Xin Guobin, vice-minister from the Ministry of Industry and Information Technology.

Xin said the industrial sector is still faced with many uncertainties as the pandemic ravages the world while market demand has not yet fully recovered.

'China will also expand domestic demand to improve the quality of supply side and stimulate consumption potential, and at the same time, accelerate the development of new consumption formats and actively expand effective investment,' Xin added.

From April to June, industrial output rose 3.9 percent, 4.4 percent and 4.8 percent, respectively, year-on-year. Among 41 industrial categories, more than half achieved positive growth in the second quarter.

Output of the equipment manufacturing industry in May and June grew 9.5 percent and 9.7 percent, respectively. Production and sales of automobiles increased 21.9 percent and 16.4 percent year-on-year in July, respectively.

'China's industrial development is improving month-by-month as a slew of policies by the government take effect,' said Xin, adding that some changes also took place.

'The pandemic has led to the development of new products, new formats and new models, and the integration of information technology and manufacturing has accelerated,' he added.

In the first half, output from the high-tech manufacturing sector rose 4.5 percent year-on-year, and output of electronic components and integrated circuits rose 36.6 percent and 16.4 percent, respectively.

During the COVID-19 outbreak, a group of new economic models including remote working, livestreaming e-commerce and online education became fresh growth engines.

'New technologies such as big data and online streaming e-commerce will help manufacturers get a better understanding of industries and enable them to tailor customized, personalized products,' said Ouyang Rihui, assistant dean of the China Center for Internet Economy Research at Central University of Finance and Economics.

Seen over the long run, the fundamentals of the country's industrial economy have not changed, said Xin from the ministry.

'China will actively respond to various risks and challenges, try to reduce the losses due to the pandemic as much as possible and strive to achieve stable and healthy development of the industrial economy,' he added.

Share to:
News / Recommended news More
2020 - 09 - 21
China on Monday released plans to build pilot free trade zones in the country's capital Beijing, central China's Hunan Province and east China's Anhui Province.A plan to expand the pilot free trade zone in east China's Zhejiang Province was also released.
2020 - 09 - 19
Cargo throughput at China's major ports has continued to recover as economic activities have normalized amid effective epidemic control measures, data from the China Ports Association showed.Cargo throughput monitored by the association went up 9 percent year-on-year in early September, with foreign trade throughput surging 16.5 percent.Container throughput rose 7.4 percent year on year, accel...
2020 - 09 - 10
BEIJING -- A promotional video, in which African people are watching Chinese films and TV series with great interest, has caught the attention of spectators at the cultural services exhibition area of the ongoing 2020 China International Fair for Trade in Services (CIFTIS).Both the digital television and the programs they are enjoying were brought to them by StarTimes Group, a Beijing-based media ...
2020 - 09 - 05
Chinese President Xi Jinping on Friday made three proposals at the Global Trade in Services Summit of the 2020 China International Fair for Trade in Services via video.Firstly, all countries should jointly foster an open and inclusive environment for cooperation, Xi said.China will stay committed to further opening up, with measures including the establishment of a sound negative list management s...
Phone: 86-510-85750782 
Zip code:214031
Address: Room 3606, Block A, Yunhe East Road 555, Wuxi, Jiangsu Province, China
Copyright ©2018 - 2021 Leonzon International Trading Co., Ltd.