98.6% of Chinese Production has Recovered

Business | March 30, 2020, Monday // 10:30
Bulgaria: 98.6% of Chinese Production has Recovered www.pixabay.com

Industrial enterprises in China have managed to resume production to an average of 98.6%, said the Industry Deputy Secretary.

The utilization of production capacities in the industrial enterprises in the country has already reached 98.6%, and 89.9% of the employees have returned to their jobs, he said.

About 76% of the employed have returned to small and medium-sized enterprises, according to BGNES.

Enterprises in the automotive industry have resumed 97% of their production, but are currently facing low demand levels, the deputy minister said.

At the moment, the rates of resumption of production and operation of enterprises are relatively high, but due to insufficient market demand, the automotive industry is still experiencing difficulties. Stock availability will continue to increase, and this may later force some companies to reduce their productivity.

Authorities in China are trying to tackle this problem by implementing various measures and programs to stimulate consumer demand for automotive products.

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Tags: COVID-19, China, production, demand
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