China's industrial upgrading momentum unchanged

 

Since April this year, despite the increasing downward pressure on China's economy and the slowing down of industrial production, the trend of industrial upgrading has not changed. New driving forces have continued to grow. Industrial transformation has entered the fast lane. High-quality development has reached a new level. All in all, the long-term positive trend of development has remained unchanged.

 

 

1. The State Administration of Foreign Exchange recently announced the newly revised "Administrative Penalty Measures of the State Administration of Foreign Exchange", which consists of 8 chapters and 93 articles. It revises and improves the procedures for penalties in foreign exchange cases, and ensures law enforcement are carried out in a law-based, standardized and orderly manner. It came into force on June 1 this year.

 

2. The State Council recently issued the "Outline for High-Quality Development of Meteorology (2022-2035)", focusing on accelerating the high-quality development of meteorology, clarifying the guiding principles and development goals, and making systematic arrangements for major tasks.

 

 

1. According to the General Administration of Customs, in the first five months of this year, China's imports and exports totaled RMB 16.04 trillion during the first five months of 2022, growing by 8.3 percent year-on-year.

 

2. According to data from the State Administration of Foreign Exchange, as of the end of May this year, China’s foreign exchange reserves stood at USD 3,127.8 billion, an increase of USD 8.1 billion, or 0.26%, from the end of April.

 

3. According to the data of China Federation of Logistics and Purchasing, China's commodity index in May this year was 101.3%, up 1.6 percentage points from the previous month.

 

4. The White Paper of China’s Satellite Navigation and Location Service Industry in 2022, released by Global Navigation Satellite System and Location Based Service Association of China, showed that the total output value of China’s satellite navigation and location services industry reached RMB 469 billion, up 16.29% from the previous year.

 

5. According to the Ministry of Commerce, over 75% of the exhibition areas of the Fifth China International Import Expo scheduled in November this year in Shanghai have been booked by exhibitors. More than 250 Fortune 500 companies and industry leaders across the world have registered to attend the exhibition.  

 

6. The Ministry of Finance will issue renminbi treasury bonds worth RMB 23 billion in Hong Kong this year. The treasury bonds will be issued in four batches, worth RMB 7.5 billion, RMB 5 billion, RMB 5.5 billion and RMB 5 billion, respectively.

 

7. According to China Railway Shanghai Bureau Co., Ltd., the Yangtze River Delta region handled 1,135 trips made by China-Europe freight trains in the first five months of this year, up 8.8 percent year on year. The trains carried 110,600 20-foot equivalent units (TEUs), up 6.5 percent, year on year.

 

8. From January to April this year, the National Development and Reform Commission approved 38 fixed asset investment projects, with a total investment of RMB 533.3 billion, according to the National Development and Reform Commission.

 

9. Data from the Ministry of Transport showed that from January to April this year, China's  investment in road and waterway infrastructure reached RMB 729.5 billion, an increase of 7.3% year-on-year, of which the investment in road was RMB 686.4 billion, up 7.7% year-on-year.

 

(Information source: Economic Daily)