China manufacturing reboots after coronavirus shutdown

Main manufacturing hubs in China’s east and south are rebooting as hundreds of thousands of migrant workers return to work as many parts of the country ease COVID-19 coronavirus travel curbs.

China manufacturing reboots. Image: coronavirusReuters:

Mainland China reported nine new coronavirus cases outside the epicenter of Hubei on Monday, the lowest since the national health authority started publishing nationwide daily figures on Jan. 20.

Several provinces have lowered their coronavirus emergency response measures, allowing more flexibility on transportation and helping firms resume production. About 180 million workers have left their hometowns to return to work since Feb 10, when China ended the prolonged Lunar New Year holiday due to the virus outbreak, according to Reuters calculations based on transportation ministry data.

China Southern Power Grid, power supplier of Guangdong, said the province consumed 5.58 bln kilowatt-hours electricity in the week of Feb.16, up 17.3% from the week of Feb.9. Power consumption at industrial firms rose 62.1% on the week, and rose 15% at information technology firms. The grid has not yet revealed the power data for the week of Feb. 23.

Daily coal consumption at six major coal-fired power groups across China rose to 427,000 tonnes on Monday, the highest level for nearly a month, but still 34% lower than the same period last year.

MacDailyNews Take: As China manufacturing reboots, signs point to a return to normalcy, finally, which is great news for (unfortunately) very China-dependent Apple.

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