1. The RCEP implementation marks a new milestone for China's opening-up

 

The Regional Comprehensive Economic Partnership (RCEP) agreement entered into force on January 1, 2022. Significant to creating China’s new development dynamic, it will invigorate global economic recovery. The RCEP implementation marks a new milestone for China’s opening-up and will pave the way for a high-level institutional opening-up. It is beneficial for China’s better participation in the regional industrial and supply chain integration and the construction of a large integrated market.  

 

2. Worst-case scenarios in mind

 

There are still financial risks in China. To prevent and defuse such risks, we should have a clear idea of them and always think about worst-case scenarios. At present, it is instrumental to properly handle the relationship between stable growth and risk prevention and to lay a solid foundation for the stable and healthy development of the economy. It is necessary to take into account both the immediate and the long-term development, and to accelerate the formation of a long-term mechanism to guard against any possible financial risks. 

 

 

1. The 14th Five-Year Plan for Information and Communication Industry Development recently issued by the Ministry of Industry and Information Technology proposed that by 2025, China will basically build a new type of digital infrastructure that is safe and reliable. 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 world’s largest and most technologically advanced 5G independent network.

 

2. The Cyberspace Administration of China and other 12 departments recently made amendments and issued the Regulation on Cybersecurity Review. According to this regulation, any online platform companies with data on more than 1 million users must undergo a security review if they intend to be listed overseas.

 

 

1. The China Federation of Logistics and Purchasing recently announced that China's logistics industry prosperity index in December 2021 was 52.6%, and the monthly average of the logistics industry prosperity index for the whole year was 53.4%, an increase of 1.7 percentage points over the previous year. The logistics industry as a whole continued to maintain recovery trend.

 

2. According to the National Railway Group, in 2021 the fixed asset investment of the national railway has reached RMB 748.9 billion, and new lines of 4,208 kilometers have been put into operation. The national railway operating mileage has exceeded 150,000 kilometers, with more than 40,000 kilometers of high-speed railway.

 

3. According to the State Administration of Foreign Exchange, in the first three quarters of 2021, China's balance of payments maintains basic balance. Among them, the current account registers a surplus of USD 196.3 billion.

 

4. According to the National Bureau of Statistics, in December 2021, China's manufacturing purchasing managers' index (PMI) was 50.3%, an increase of 0.2 percentage points from the previous month, and continued to be higher than the critical point of 50%.

 

5. According to the China Film Administration, the total box office of films in 2021 reached RMB 47.258 billion. Among them, the box office of domestic films was RMB 39.927 billion, accounting for 84.49%, and among the top 10 films, there are 8 domestic films. Year-round total box office and screening continue to keep the first place in the world.

 

6. According to the Shanghai International Port Group, in 2021, the container throughput of Shanghai Port broke through 47 million TEUs, and it has ranked first in the world for 12 consecutive years.

 

7. According to the State Administration of Foreign Exchange, as of the end of September 2021, China's full-scale (including domestic and foreign currency) foreign debt balance was USD 2,696.5 billion, an increase of USD 16.7 billion or 0.6% over the end of June 2021.

 

8. According to the State Post Bureau, the China Express Development Index in December 2021 was 311.8, a year-on-year increase of 4.4%.

 

9. After accounting, the added value of China's patent-intensive industries in 2020 was RMB 12,128.9 billion, an increase of 5.8% over the previous year (without deducting the price factor), and 3.1 percentage points higher than the current GDP growth rate over the same period.

 

10. After accounting, in 2020, the total scale (total output) of China's sports industry was RMB 2,737.2 billion, and the added value was RMB 1,073.5 billion. Compared with 2019, total output fell by 7.2% (without deducting the price factor) and added value down by 4.6%.

 

(Information Source: Economic Daily)