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China's economy is recovering steadily, and the first half year of Reignwood Group registered good results

2020-07-17

On July 16, the 2020 half-year report of Chinese economy was released. Economic data in the first half of the year showed that our country's economy has gradually overcome the adverse effects of the epidemic, showing recovery growth and steady recovery. The economic growth rate in the second quarter turned from negative to positive and new momentum was further strengthened.

Datas show that in the first half of the year, our country's economy first fell and then rose, and "recovery" became the key word for China's economy. According to preliminary calculations, the GDP in the first half of the year reached 4,5661.4 billion yuan, a decrease of 1.6% year-on-year in terms of comparable prices. Among them, the economic growth rate turned from negative to positive in the second quarter, from a year-on-year decline of 6.8% in the first quarter to an increase of 3.2%.

In the first half of this year, the sales of the five brands operated by Reignwood FMCG totaled 14,326 million yuan, fulfilling about 58% of the annual tasks set by the group at the beginning of the year. Yan Bin, the "head" of China Red Bull, member of the National Committee of CPPCC and chairman of Reignwood Group, said that the epidemic tests the viability and resilience of every company. "The situation is very unusual, and the results are hard to come by."

Yan Bin mentioned the word "confidence" more than once in public occasion. "I have full confidence in China's economic recovery and development. Such confidence comes from the strong leadership of the Communist Party of China, stems from the institutional advantages of socialism with Chinese characteristics, from the persevering spirit of the Chinese people, and also from the tremendous resilience of China's socialist market economy."

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