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China’s production increased significantly in October

According to the National Statistics Office, China’s production increased significantly in October as sales accelerated after the Covid-19 pandemic. In particular, September earnings show that industrial production grew beyond expectations. At the same time, several Asian
power plants were strengthened financially, with Japan showing the fastest growth in three months. Thus, China’s industrial sector has recovered significantly, after the pandemic, with the help of resilient exports.
In particular, it appears that metallurgy and refineries with aluminum and crude oil in China have reached high levels of production as significant demand has been observed. Growth is expected to accelerate in the fourth quarter due to increased demand in the field of sales of electric vehicles and the growth of domestic tourism. It is obvious that fixed assets investments in the period January – October have increased compared to last year’s statistics.

For further details visit https://uk.reuters.com/article/us-china-economy-activity/chinas-factory-output-beats-forecasts-as-asia-shakes-off-covid-slump-idUKKBN27W0BB

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