Data reflect continued recovery of China's economy

The operating rate of construction projects was higher

Data from the State Information Center showed that in the first week after the Spring Festival holiday (Feb 18 to 24), China's average operating rate rose by 12.0 percentage points from the low point during the Spring Festival (Feb 10 to 17), and construction across the country resumed work and production steadily. And in January, the overall operating rate of the country's construction machinery reached 47.81 percent, significantly higher than the level of the same period last year (40.61 percent), laying a certain foundation for a good start to the economy in 2024.

From January to February this year, the bid-winning amount of project investment increased by 9.1 percent year-on-year across the country, of which, the bid-winning amount of machinery equipment, agriculture, forestry, animal husbandry and fishery, water conservancy and hydropower increased by 24.5 percent, 24.5 percent and 16.7 percent, respectively.