Virus-hit Chinese economy shrinks 6.8 pct in Q1

Time:2020-04-17 10:45:34      Source:Xinhuanet.com
China's gross domestic product stood at 20.65 trillion yuan (about 2.91 trillion U.S. dollars) in the first quarter of 2020 amid COVID-19 impact, down 6.8 percent year on year, data from the National Bureau of Statistics (NBS) showed Friday.
 
The country's economic and social development witnessed overall stability in Q1, the NBS said at a press conference, while acknowledging that the COVID-19 outbreak had posed a severe test.
 
A breakdown of the data showed output of the service sector, which accounted for nearly 60 percent of the total GDP, dropped by 5.2 percent, while primary industry and the secondary industry saw a decline of 3.2 percent and 9.6 percent, respectively.
 
"The situation of epidemic control and prevention continued to improve with a basic interruption in epidemic transimission at home," the NBS said, adding that the resumption of work and production has accelerated and fundamental industries are growing steadily.
 
Friday's data showed China's job market improved slightly in March, with the surveyed unemployment rate in urban areas standing at 5.9 percent, down 0.3 percentage points from the previous month. 
Index RMB/t DoD Basis Date
Datong 5500 450 0 ex-mine 06-20
Shuozhou 5200 435 0 FOR 06-20
Ordos 5500 415 0 ex-mine 06-20
Yulin 6200 535 0 ex-mine 06-20
Liulin Low-sulphur 560 0 ex-mine 06-20
Gujiao Low-sulphur 1095 0 FOR 06-20
Xingtai Low-sulphur 1210 0 ex-Factory 06-20
Yangquan PCI 770 0 FOR 06-20
Index RMB/t WoW WoW% Date
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