Here's how China businesses are emerging from coronavirus lockdowns:
Well, from a people movement perspective, the year-on-year growth rate of the seven-day average of metro rail passenger trips in Shanghai was -31.3% as of June 28, and that’s down from -23.4% a week ago. Wrong direction.
During the three-day Dragon Boat Festival this year — which takes place June 25 to 27 — the daily average of metro passenger trips in Shanghai, Guangzhou and Beijing were 35.9%, 32.7% and 73.2%Exhaust rises from the smoke stacks of thermal power plants in Changshu, Jiangsu Province, China.On industrial activity-related indicators, the year-on-year growth of the seven-day average of coal burned by six major power plants in volume terms was 8.6% higher on June 28, down from 10.
The utilization rate of crude oil refiners in Shandong province inched down to 74.7% during June 18 to 24, relatively the same as the 74.9% capacity a week ago. Oil refining runs in China have grown 31.4% annually the first three weeks of June, a little higher than the 30.4% increase in May. According to Beijing Duolaidian Information Technology, a catering industry information provider that covers 10% of total transactions of the industry in China, the daily average number of restaurants having resumed business during the week of June 22 was just around 2.6% below January levels, which is better than the 2.9% below registered a week ago.
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