Wuxi
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First Positive Growth in 2020
Release time:2020-06-23 Browse:
 

It was learned from the Wuxi Municipal Bureau of Industry and Information Technology on June 21 that from January to May, the added value of industries above designated size in the whole city had positive growth for the first time, with a year-on-year increase of 0.3%, which was 0.9 percentage points higher than the average growth in Jiangsu Province and ranked sixth in the whole province. Relevant official said that from January to May, Wuxi's industrial economic operation had overcome the impact of COVID-19 pandemic and rebounded. Among five major industries, the electronics industry and metallurgical industry have achieved positive growth. And the decline in the machinery, petrochemical and textile industries has also narrowed.

 

It was learned from the Wuxi Municipal Bureau of Industry and Information Technology that the machinery industry achieved rapid growth in May, with an increase of 7.8%; and the electric vehicle industry had particularly well performance with output growth exceeding 30%. Chen Kaiya, Director of the Board Office of Jiangsu Xinri E-Vehicle Co., Ltd., said that COVID-19 had brought more orders to the electric bicycle market. In short, the industry is less affected by the pandemic. Currently, all production lines are fully operated with sufficient orders.

  

In face of the impact of COVID-19, positive coping style of enterprises embodied the resilience of the economy. At the same time, government's closer and efficient services provided a good development environment.

  

Relevant official from the Wuxi Municipal Bureau of Industry and Information Technology said that from January to May, the first positive growth of the added value of industries above designated size in the whole city indicated that the industrial economy had fully entered the period of "recovery". "Previously, the electronics industry was particularly thriving. In May, the metallurgical industry achieved growth as well, showing better tomorrow in the machinery industry. The three industries accounted for about 70% of the industrial economy. However, for the textile industry, which is highly dependent on exports, it will still face a plight due to the uncertainty of COVID-19 in the second half of 2020."

 

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