According to statistics from the investment bank JPMorgan Chase, the coal consumption of China’s six major power stations quickly rose to historical levels after the May 1 Golden Week holiday. The current consumption is 1.5% higher than the historical average, indicating that the demand for electricity has returned to normal levels.
The unpolluted sky that emerged after China ’s closure of the city disappeared as economic activity increased.
Driven by industrial emissions, China’s air pollution has recently surpassed the same period last year, the first time since the start of the new crown epidemic.
All these signs show that China is slowly getting back on track.
But this is not the right track in the usual sense, which shows how difficult it is for the rest of the world to recover their economies.
Recent retail sales figures show that it is extremely difficult for people to buy in stores. In April this year, retail sales fell by 7.5%. Although it was better than in March, it was still a long way from the retail sales figures needed for the economy to resume normal operation. Many Chinese are still worried about the peak of secondary infections, and they are not willing to spend as much as they used to.
No wonder China has now given up its economic growth target this year-the Chinese government knows that it is very difficult to predict the depth and breadth of this outbreak.
Another factor combined with all these is the extremely important unemployment rate. At present, China ’s official unemployment rate in April is 6%, slightly higher than in March. This is close to the highest level in history.
However, many economists believe that China’s real unemployment rate should be more serious.
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