"CHINA'S ECONOMY IS EXPECTED TO RETURN TO ITS NORMAL GROWTH RATE IN THE THIRD QUARTER OF 2020"
In the last decade, the country consumed about 90% of the volume of natural stone each year on the domestic market, according to the president of the national stone association of China, CSMA, exports accounted for only 10%.
China Stone Material Association (CSMA) is the nationwide stone organization. More than 1000 leading companies, from producers to manufacturers and traders, are members. The association is voluntary and since 2016, Chen Guoqing has been the president.
Since the beginning of February, the Chinese government has launched a series of tax cuts and tax reduction measures to support small and medium-sized enterprises in returning to work and production. According to data released by the Ministry of Industry and Information Technology, by the end of March, the rate of return to work for large companies has exceeded 90% and for small and medium-sized companies has exceeded 70%.
In the stone sector, companies have returned to work since February 10.
On April 15, the production recovery rate reached more than 50%. China's economy is expected to gradually return to its normal growth rate in the third quarter of 2020.
On April 22, 2020, 1326 large projects with investments in excess of RMB 100 million (Renminbi) resumed construction in Wuhan, the capital of central China's Hubei province, after leaving the blockade on April 8.
Posted By: Carlos Duarte (Prodution Manager)