China's progress on business resumption on May 14 (2)

Amid further containment of COVID-19, China is powering ahead in returning to work and resuming business and production. The following are the latest facts and figures:

— China's economic activities are picking up the pace of resumption, as shown by several leading indicators including the number of cargo volume, power generation and consumption, and excavator sales.

Data from the China Academy of Transportation Sciences showed that cargo transport rebounded to the previous average level in April as economic activities are accelerating restoration nationwide.

In that period, the China Transportation Services Index stood at 131.5 points with the contraction narrowing 6.6 basis points from the previous month, and the sub-index for cargo transport fell 1.2 percent from a year ago.

— Foreign direct investment (FDI) into the Chinese mainland expanded 11.8 percent year-on-year to 70.36 billion yuan in April, data from the Ministry of Commerce showed on May 14.

— China's recent online shopping festival, initiated by several government departments, saw sales hit 182.51 billion yuan (about $25.72 billion), an official with the Ministry of Commerce (MOC) said on May 14.

The festival was part of the country's efforts to expand domestic consumption and blunt the impact of the novel coronavirus epidemic on its economy, which contracted 6.8 percent year-on-year in the first quarter.

More than 1 million online shops and 115 e-commerce companies took part in the festival, the second of its kind, selling a great variety of quality goods ranging from agricultural products to electronic devices, Gao Feng, spokesperson for the MOC, told a regular press briefing.