Insight
China Economic Review Nov.24
Last Updated: 2021-11-24 15:39 | CE.cn
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Opinion
 
1. China's economy has shown strong resilience with large volume and steady growth.
 
The latest data released by the National Bureau of Statistics of China shows that in October this year, China's economic operations generally continued to recover steadily. Facing the complex and ever-changing domestic and international environment, China has scientifically coordinated epidemic prevention and control and economic and social development, effectively implemented macroeconomic policies, and focused on solving the problems and contradictions encountered in the development process, and has continuously achieved positive results. Under multiple challenges, China's total economic volume is large, the growth rate remains stable, and the stamina is sufficient.
 
2. Bonds will become an important field in China's financial market to attract foreign investment.
 
There are three main reasons why overseas institutions continue to increase their holdings of RMB bonds: China's economic fundamentals are stable, which has laid a solid foundation for attracting continued inflows of foreign capital; China-US interest rate gap remains high, and overseas institutions have the motivation to continue to increase their holdings; Opening up of China's financial market enters into the fast lane. As China's bond market continues to open up, bonds may become an important field for China's financial market to attract foreign investment.
 
Policies
 
1. The 14th five-year plan for the development of information and communication industry officially released by the Ministry of Industry and Information Technology of China on November 16, proposes that China will basically build a safe and reliable new digital infrastructure by 2025. At present, China has built more than 1.15 million 5G base stations, accounting for more than 70% of the world's total. It is the largest and most advanced 5G network in the world.
 
2. China Meteorological Administration and other 4 departments jointly released the plan of meteorological support for transportation during the 14th Five-Year Plan. The Plan aims to form a comprehensive transportation meteorological service layout featured by coordinated deployment, implementation and support by multiple departments in five key areas of highway, railway, inland water transportation, marine transportation, and multimodal transport.
 
3. According to the Ministry of Housing and Urban-Rural Development, the pilot regions for new urban infrastructure construction will increase to 21 cities (districts). In order to accelerate the construction of new urban infrastructure based on digitization, networking and intelligence, China will explore mechanisms and models that can be replicated and popularized.
 
Data
 
1. According to the National Bureau of Statistics, in October, the total added value of the industrial enterprises above the designated size grew by 3.5 percent year on year, the average two-year growth was 5.2 percent; the total retail sales of consumer goods reached RMB 4,045.4 billion, up by 4.9 percent year on year, the average two-year growth was 4.6 percent; the total value of imports and exports of goods was RMB 3,335.7 billion, up by 17.8 percent year on year.
 
2. Foreign direct investment (FDI) into China, in actual use, rose 17.8 percent year-on-year to RMB 943.15 billion, or USD 142.01 billion, in the first 10 months of the year, the Ministry of Commerce said.
 
3. On November 15, China's National Bureau of Statistics released the Sales Price Indices of Commercial Residential Buildings in October this year. Sales Prices of Commercial Residential Buildings in 70 Medium and Large-sized Cities continued to decline slightly month on month, and the year-on-year increase continued to fall.
 
4. The China Banking and Insurance Regulatory Commission announced on November 16 that at the end of the third quarter of 2021, the domestic and foreign currency assets of China's banking financial institutions were RMB 339.4 trillion, a year-on-year increase of 7.7%.
 
5. According to statistics from the China Banking and Insurance Regulatory Commission, in the first three quarters of this year, the original insurance premium income of insurance companies was RMB 3.7 trillion, a year-on-year increase of 3.3%. Compensation and payment expenditures amounted to RMB 1.2 trillion, an increase of 18.1% year-on-year.
 
6. According to statistics from China National Railway Group, in the first 10 months of this year, China-Europe freight trains opened 12,605 trains and transported 1.216 million TEUs of goods, an increase of 26% and 33% year-on-year respectively; the number of trains and transport volume exceeded the total of 2020.
 
7. Statistics from the Ministry of Commerce of China show that from January to September this year, China-Africa trade volume was USD 185.2 billion, a year-on-year increase of 38.2%, the highest in the same period in history.
 
8. Monitoring data from the China Post Bureau shows that during the "Double 11" period (Nov. 1st to 16th), postal and express companies across the country collected 6.8 billion express parcels, an increase of 18.2% year-on-year; a total of 6.3 billion express parcels were delivered, a year-on-year increase 16.2%.
 
9. November 15, 2021, the first trading day of the Beijing Stock Exchange, 81 stocks of the Beijing Stock Exchange have a total turnover of RMB 9.573 billion. 10 new stocks directly listed on the Beijing Stock Exchange rose across the board, triggering two temporary trading suspensions during the session. As of the close of trading, the 10 new stocks had an average increase of 199.80% from the issue price.
 
10. The latest data from Shanghai International Energy Exchange shows that from January to October this year, China's crude oil futures volume was 33.8142 million lots, with a transaction value of RMB 14.24 trillion, an increase of 3.8% and 51.2% respectively over the same period in 2020.
 
(Information Source: Economic Daily)

(Editor:Liao Yifan)

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China Economic Review Nov.24
Source:CE.cn | 2021-11-24 15:39
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