Miao Wei: China’s industrial economy to expand in Q2

Miao Wei: China’s industrial economy to expand in Q2

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Miao Wei, Chinese minister of industry and information technology, has stated that the industrial economy in China is expected to expand in the second quarter of the year amid continuous resumption of production and construction activities and measures to expand domestic demand.

As of May 18, the average resumption rate of medium and large-scale industrial enterprises in China reached 99.1 percent, having basically regained normal levels.

However, the minister went on to say that investment in the domestic mining industry (including ferrous, non-ferrous and non-metallic mines) in the first four months indicated a year-on-year decline of 13 percent as most mines are located in remote areas and faced difficulties in resuming production, which resulted in certain supply shortages in the ore market.

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