Economy

Despite being seriously affected by the lockdowns as a result of Covid-19, China's economy has shown resistance tests. However, it has not fully recovered: some activities, especially in the services sector, have not yet recovered. Still, unlike much of the world, China seems unlikely to end up mired in a prolonged recession, thanks to its rapid digital transformation.

According to data released today, China's Caixin Manufacturing PMI reached 53.1 points in August, a substantial improvement from 52.8 in the previous month, indicating that the overall prosperity of the manufacturing industry is significantly better. The increase is the highest since January 2011.

The data has been in the expanding range for four consecutive months, and maintained a trend for the fourth consecutive month.

In the Reference News Network reported on July 29 that Western media noted that there are constantly several platforms that hope to attract the Spanish public interested in special content. In recent months, there have been two incidents of large streaming media platforms appearing daily in Spain without notifying potential users. The first incidence that the short video of Quibi quietly appeared in Spain after being released in the United States, and this incidence was the Chinese media giant ¨iQiyi¨.

According to the Spanish newspaper ABC, the new COVID-19 epidemic has aggravated the economic crisis in Spain, the most evident thing is that real estate prices have begun to fall.

According to a related report presented by the University of Pompeya Fabra and the Tecnocasa Group this Tuesday, the coronavirus has aggravated the fall in property prices in Spain in the first half of this year. House prices continued to fall for two consecutive quarters from January to June (the largest decrease in the drop since 2013). The price of second-hand housing fell by 4.94% to approximately 2,245 euros per square meter.

China has decided to temporarily reduce its quotas designed to increase the production of electric cars with the aim of helping manufacturers make more gasoline and / or hybrid cars to revive a market that has been badly affected by the coronavirus pandemic. This measure will be in effect from 2021 to 2023.

When the coronavirus started spreading across the globe last month, Pakistan's foreign minister called his counterpart in Bejing to make an urgent request: the country's economy was plummeting, so the government needed to restructure thousands of millions of dollars in loans from China.

Beijing has received similar requests from Kyrgyzstan, Sri Lanka, and several African nations that want to restructure their debt, extend payments, or forgive tens of billions of dollars in loans due this year.

China's industrial production grew by 3.9% year-on-year in April, the first time that it has registered an increase so far in 2020, a period in which the Asian country's economy has been strongly affected by the coronavirus crisis. , reported today the National Statistical Office (ONE).

The figure is well above the forecasts of analysts, who pointed to a growth of about 1.5% in this period.

Four and a half months after the official announcement, after obtaining the permits from the Competition authorities, China Railway Construction Corporation (CRCC) has closed the purchase of 75% of the capital of Aldesa, a Spanish company owned by the Fernández Rubio family, which was in trouble financial. The Asian company, the second largest company in the construction sector, has decided to definitively seal the takeover of the Madrid company despite the impact that covid-19 is having on the world economy and on the brick sector in particular.