Building a unified domestic market

 

China’s super-large scale market is one of the huge advantages supporting the high-quality development of China's economy. It will further consolidate and expand the advantages of market resources. The improved high-quality supply will stimulate the domestic market’s potential.

 

 

1. China has released a guideline to accelerate the establishment of a unified domestic market amid efforts to continue to promote the efficient circulation of the domestic market and to expand its scale, to accelerate the creation of a stable, fair, transparent and predictable business environment, to further reduce market transaction costs, to promote technological innovation and industrial upgrading, and to foster new advantages in participating in international competition and cooperation.

 

2. The Ministry of Transport and the Ministry of Science and Technology jointly issued the "14th Five-Year Plan for Scientific and Technological Innovation in the Transportation Sector", specifying 18 key research and development directions in 6 major fields, and proposing that by 2025, China will initially build a technological innovation system that meets the needs of building China into a transportation powerhouse. 

 

 

1. According to data from the Ministry of Commerce, in the first quarter of this year, China's actual use of foreign capital was RMB 379.87 billion, a year-on-year increase of 25.6%; in US dollars, it was 59.09 billion US dollars, a year-on-year increase of 31.7% (excluding banking, securities, and insurance fields).

 

2. According to the National Energy Administration, from January to March this year, the total electricity consumption of the whole society was 2,042.3 billion kWh, a year-on-year increase of 5.0%.

 

3. In the first quarter of this year, the total value of China’s import and export of goods was RMB 9.42 trillion, a year-on-year increase of 10.7%, according to customs data.

 

4. According to data from the National Bureau of Statistics, China’s CPI rose 1.5% year-on-year in March this year. The average CPI from January to March rose 1.1% from a year earlier.

 

5. In the first quarter of this year, China’s RMB loans increased by RMB 8.34 trillion, a year-on-year increase of RMB 663.6 billion. In March, RMB loans increased by 3.13 trillion, a year-on-year increase of RMB 395.1 billion.

 

6. According to the China Association of Automobile Manufacturers, from January to March this year, China’s automobile production and sales reached 6.484 million and 6.509 million respectively, up 2% and 0.2% year-on-year.

 

7. In 2022 China will focus on advancing the preliminary work of 55 major water conservancy projects. Together with other water conservancy projects, it is estimated that the total investment will reach about RMB 800 billion throughout the year. 

 

8. As of the end of March 2022, there were 4,782 listed companies in China, with a market value of RMB 80.7 trillion, ranking among the top in the world.

 

9. The import and export value of Hainan’s foreign trade increased from RMB 70.28 billion in 2017 to RMB 147.68 billion in 2021, with an average annual growth of 20.4%, according to customs statistics. 

 

10. In the first quarter of this year, China’s railway investment in fixed assets reached RMB 106.5 billion, up 3.1% year-on-year; 447 kilometers of new railway lines were opened, including 233 kilometers of high-speed rail.