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SW China's Yunan sees recovering economy in April

May 21, 2020


Abstract : Economic activities in Southwest China's Yunnan Province shows sign of recovery in April, as the latest data on industrial output, manufacturing, and financial revenues improved amid the accelerating work resumption while the COVID-19 epidemic is under control.

BEIJING, May 21 (Xinhua) – Economic activities in Southwest China's Yunnan Province shows sign of recovery in April, as the latest data on industrial output, manufacturing, and financial revenues improved amid the accelerating work resumption while the COVID-19 epidemic is under control, reported the Xinhua-run cnstock.cn Wednesday.

The industrial sector is recovering from the hit of the epidemic with the value-added industrial output picking up 1.7 percent year on year in April, bouncing up three percentage points from that in March, according to the data from the Yunnan Bureau of Statistics.

Adding to the economic recovery, Yunnan's manufacturing sector grew by 6.8 percent year on year in April, pushing the industrial economy back to a positive increase.

During the same period, the warming economy was also attributed to the increased added value of joint-stock enterprises and foreign-invested enterprises as well as enterprises from Hong Kong, Macao, and Taiwan, posting an increase of 1.7 percent and 16.2 percent year on year, respectively.

Fixed-asset investment declined 3.8 percent in the first four months, with the fall narrowing by 7.8 percentage points compared with the decrease in the first three months.

As of the end of April, Yunnan's RMB deposit balance of financial institutions amounted to 3,396.618 billion yuan, up 6.8 percent year on year.

Yunan's total imports and exports shrank by 8.0 percent on year to 62.56 billion yuan in the first four months of the year as the epidemic outbreak had a massive impact on global economic activity.

As the epidemic has continued to spread overseas, Yunnan vows to actively adjust its response policies to push the full normalization of its economy while facing the difficulties existing in the economic development, according to an official with the Yunnan Provincial Bureau of Statistics. (Edited by Jiang Feifan with Xinhua Silk Road, 346129473@qq.com)

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Keyword: China economy

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