China's Yangtze River Delta embraces economic recovery
As the production demand gradually recovers and the growth rates of major indicators pick up, China's Yangtze River Delta, one of the country's economic hubs, is embracing a momentum of economic recovery.
In east China's Anhui Province, the added value of the manufacturing industry and mining industry both increased by 4.7 percent in May, with the production and supply industries in areas of electricity, heat, gas and water up by 11.4 percent, said the provincial bureau of statistics on Tuesday.
Data released by the provincial bureau of statistics in east China's Jiangsu showed that from January to May, the added value of its major industries increased by 1.1 percent year on year.
In Jiangsu's neighboring province of Zhejiang, the added value of its major industries got rid of a downward trend in May, posting an increase of 1.5 percent year on year, a rise of 3.4 percentage points from the previous month.
"Recently, we've seen a surge in the number of orders. With the effective control of COVID-19, our customer demand has begun to gradually pick up, and the logistics in the Yangtze River Delta are recovering as well," said Cheng Ping, senior engineer of Anhui Huajing microelectronics materials technology company.
As a material producer for integrated circuit (IC) packaging, the company transports its products to various IC companies across the Yangtze River Delta region.
Although many places in the region were bothered by the sporadic outbreak of COVID-19 in the first half of the year, major industrial enterprises have steadily returned back on track with a slew of supportive policies such as government interest subsidies and deferment of taxes.
"The local tax authorities reminded us to apply for the tax refund, and the government also waived our rent for the second quarter of the year. With the epidemic under control, our business and production are expected to continue to rebound," Cheng said.
As an important growth pole of China's economy, the Yangtze River Delta brings together all kinds of enterprises that play important parts in the global industry chains of automobiles, semiconductors and photovoltaics.
"Our orders are already scheduled for the end of September this year," said Zhou Yang, deputy general manager of DAH Solar.
More than 10,000 solar photovoltaic modules are manufactured in the company every day, with 60 percent of the products exported to more than 100 countries and regions around the world, including Brazil, Germany, Poland, the Netherlands and Japan.
On Tuesday, Zhou received a document issued by the municipal government of Hefei, capital of Anhui, which introduces a series of policies on promoting the development of the photovoltaic industry.
"We expect our annual sales this year to reach 3.5 billion yuan (about 520 million U.S. dollars)," Zhou said with confidence.
Jiangsu, Zhejiang, Anhui and Shanghai are under the ambit of the Yangtze River Delta region.