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Resumption of work and production

China's progress in economic resumption on Sept 14

Updated: Sep 15, 2020 Xinhua Print
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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:

— China's housing market remained generally stable in August, with slight month-on-month growth in home prices in major cities.

New home prices in four first-tier cities — Beijing, Shanghai, Guangzhou and Shenzhen — rose by 0.6 percent month-on-month in August, up 0.1 percentage points from a month earlier, according to data from the National Bureau of Statistics.

Thirty-one second-tier cities reported a month-on-month increase of 0.6 percent in new home prices, compared with a 0.5-percent rise in July, while 35 third-tier cities witnessed a month-on-month growth of 1 percent in new home prices, with a slightly faster pace compared with the 0.8-percent expansion in July.

— Chinese banking institutions have pooled their resources and increased financial support for the country's battle against poverty amid COVID-19.

In the first eight months of this year, the Agricultural Development Bank of China, an agricultural policy bank, provided 351.1 billion yuan (about $51.3 billion) in loans for poverty relief.

The figure was up by 71.75 percent, or 146.7 billion yuan, from the same period last year, according to the bank.

— The State Council, China's cabinet, plans to conduct an inspection to ensure the implementation of major policies ranging from COVID-19 prevention and control to different aspects of economic development.

The inspection, scheduled for mid- and late October, will be performed on site in 14 provincial-level regions and at the Xinjiang Production and Construction Corps.

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