Instead of watching, as is done in the West, economic depression impacts dating from before the pandemic becoming enhanced by it, China is increasing its work on the Belt and Road Initiative.
China Railway High-Tech Industry Co Ltd (CRHIC), a subsidiary of state-owned China Railway Group Ltd, saw both sales revenue and the value of newly signed contracts surge in the first three quarters, thanks to growing demand from markets participating in the BRI and its diversified business scope.
Despite COVID-19 affecting business operations in many parts of the world, the company’s sales revenue surged 18.68% on a yearly basis to 18 billion yuan ($2.69 billion) over the nine-month period, while the value of newly signed contracts jumped 35.26% to 30.97 billion yuan ($4.4 billion).
