Opinion

1. Beijing Winter Olympics accelerates energy transition

In order to ensure the green power supply for the Beijing Winter Olympics, China has carried out technological innovations in multiple parts. For the first time in the history of the Winter Olympics, 100% green power supply has been achieved, and the world's first large-scale hydrogen fuel cell buses have been employed to serve sports events. This competition allows people to witness that China's energy transition is accelerating and it will have a profound impact on the global economic and social transformation.

2. The Beijing Winter Olympics promotes the vigorous development of ice and snow economy

The Beijing Winter Olympics has brought important opportunities for the development of China's ice and snow economy. It is estimated that by 2025, the total scale of China's ice and snow industry will exceed RMB one trillion. Enjoying ice and snow sports has become a new consumption spree in China. The upgrading of consumption structure has provided strong support for its development. China is becoming the world's major ice and snow consumer market, and the investment momentum is showing a strong trend.

Policy

1. The Ministry of Industry and Information Technology and the other two departments recently jointly issued the "Guidelines on Promoting the High-quality Development of the Iron and Steel Industry", proposing that by 2025, more than 80% of the steel capacity should complete ultra-low emissions reform, and over 30 smart factories will be built.

2. The National Development and Reform Commission and other departments issued the "Guidelines on Accelerating the Construction of Urban Environmental Infrastructure", proposing that by 2025, the supply capacity and level of urban environmental infrastructure will be significantly improved, and by 2030, a modern environmental infrastructure system will be basically established.

3. The Central Bank of China, together with the State Administration for Market Regulation, the China Banking and Insurance Regulatory Commission, and the China Securities Regulatory Commission, jointly issued the 14th Five-Year Plan for the Development of Financial Standardization, which clarified seven key points of building a standardization-assisted modern financial management and helping improve the financial market system.

Data

1. According to the data of China Federation of Logistics and Purchasing, the total social logistics in China in 2021 was RMB 335.2 trillion, a year-on-year increase of 9.2%.

2. The data released by the World Intellectual Property Organization (WIPO) in Geneva showed that in 2021, Chinese applicants filed 69,500 international patent applications through the Patent Cooperation Treaty (PCT), a year-on-year increase of 0.9%, ranking the first in the number of applications for the third year in a row.

3. As of the beginning of February this year, China’s shipbuilding industry has maintained the number one spot worldwide as in hand ship orders reached 96.85 million deadweight tons, accounting for 46.9% of the global share, according to the latest statistics from global research institutions.

4. According to the Ministry of Commerce, China’s total import and export of services in 2021 reached RMB 5298.2 billion, a year-on-year increase of 16.1%.

5. Data from the Ministry of Industry and Information showed that by the end of 2021, a total of 1.425 million 5G base stations have been built and opened in China. At present, the total number of 5G base stations in China accounts for more than 60% of the world.

6. In January this year, sales of new energy vehicles surged 124% from the same period last year to 347,000 units, hitting a record high, according to the China Automobile Dealers Association.

7. According to the Ministry of Commerce, in January this year, China’s actual use of foreign capital was RMB 102.28 billion, a year-on-year increase of 11.6%.

8. China plans to allocate RMB 2.1 billion in the central budget this year to support the construction of 185 projects tackling the shortage of public fitness facilities such as sports parks and public fitness centers, according to the National Development and Reform Commission.

9. In 2021, China’s non-ferrous metal production maintained steady growth. The output of ten commonly used non-ferrous metals reached 64.543 million tons. Non-ferrous metal enterprises above designated scale achieved a profit of RMB 364.48 billion, with a record high.

10. General Administration of Customs announced that the Regulation on the People’s Republic of China Comprehensive Bonded Zones will come into force on April 1. At present, there are 155 comprehensive bonded zones in China, and the value of imports and exports stood at RMB 5.9 trillion in 2021.

(Information source: Economic Daily)