Observer Report
Beijing
The entire Chinese nation coordinated the promotion of pandemic prevention and control and economic and social development in the first half of this year, says a report carried by Gwadar Pro on Friday. According to Li Bijian, Consul General of China to Karachi, the pandemic situation continues to improve, and the resumption of work and production accelerates.
China’s economic growth recorded 3.2% in the second quarter, and the main highlights are: First, the main economic indicators have rebounded, and the market expects an overall improvement.
In the second quarter, the value-added of industrial enterprises above designated size and value-added of the service industry both changed from negative to positive. The Purchasing Managers’ Index (PMI) has risen steadily and been above the threshold for four consecutive months. Liquidity is generally reasonable and abundant, and confidence in the capital market has increased.
Second, agriculture sector witnesses a robust growth and grain output has hit a record high. The recovery of industrial production is evident, and the industrial physical quantity index continues to rise.
Third, the decline in the service industry has narrowed, and market sales have gradually recovered. Fourth, investment is rapidly recovering and new momentum continues to increase. Key investment projects have accelerated, high-tech and social investment fields have developed well, and the related products such as new infrastructure have grown rapidly.
Fifth, foreign trade and investment have stabilized, and the international balance of payments basically balanced. Sixth, the national surveyed urban unemployment rate was 5.7% in June, a decline for two consecutive months; the average weekly working hours of employees in enterprises increased. Seventh, outstanding results have been achieved in the fight against poverty. As of June 30, 28.309 million poor laborers from 25 provinces had been working as migrant workers. Full coverage social security system continues to be strengthened. Eighth, the coordinated development of the Beijing-Tianjin-Hebei region, the construction of the Guangdong-HongKong-Macao Greater Bay Area, and the integrated development of the Yangtze River Delta are progressing steadily.
