1.Impact of outflow of China's foreign-trade orders limited

 

Recently, influenced by changing trade environment at home and abroad and COVID-19 pandemic, there has been some outflow of orders in certain industries. Such shift is in line with economic laws and will not affect China’s position in the global industrial chain and supply chain.

 

2. Implement urgent measures to stabilize employment

 

The State Council recently issued measures to stabilize economic growth. It is urgent to implement such measures for employment stabilization and the focus is on contradiction of structural unemployment. It is also vital to carry out large-scale vocational skill training programs in key industries, enabling more workers to master professional skills in all areas. 

 

 

1.The State Council recently issued an overall plan to facilitate comprehensive cooperation within the Guangdong-Hong Kong-Macao Greater Bay Area by further deepening opening-up in Nansha district. According to the plan, by 2025, the scientific and technological innovation systems and mechanisms in Nansha will be further improved, industrial cooperation will be deepened and regional innovation and industrial transformation systems will be preliminarily established.

 

2.The Cyberspace Administration of China recently issued the newly revised Regulation on the Information Service Management of Mobile Internet Application, which will be implemented on August 1. According to this regulation, application providers should not induce users to download applications through manipulating the rankings and other methods.

 

3.Shanghai Market Supervision Bureau recently launched an online platform to facilitate the business registration of foreign-invested enterprises. Overseas investors can conduct business registration without meeting in person. Such attempt takes the lead in conducting the whole business registration procedure online for foreign investors. 

 

 

1. Data from the Ministry of Commerce showed that from January to May this year, China’s actual use of foreign capital was RMB 564.2 billion, a year-on-year increase of 17.3%, equivalent to USD 87.77 billion, up 22.6% over the same period last year.

 

2. According to the preliminary statistics from the People's Bank of China, the total assets of China's financial institutions rose by 8.7% year on year to RMB 396.39 trillion by the end of the first quarter of this year.

 

3. In May this year, China's exports reached USD 308.25 billion, up by 16.9% on a yearly basis. In the first five months, the export value of mechanical and electrical products accounted for 57.2% of the total export value. Among them, automobile exports were increased by 57.6% year-on-year.

 

4. Data from the National Bureau of Statistics showed that in May this year, China's consumer price index (CPI) grew by 2.1% year-on-year.

 

5. According to data from the China Association of Automobile Manufacturers, China's automobile production and sales reached 1.926 million units and 1.862 million units respectively in May this year, an increase of 59.7% and 57.6% from the previous month.

 

6. According to the National Energy Administration, China’s total power use went up 2.5% year on year to 3,352.6 billion kWh during the January-May period.

 

7. According to the Ministry of Finance, in the first five months of this year, China's general public budget revenue was RMB 8,673.9 billion, an increase of 2.9% after refunding value-added credit, and a decrease of 10.1% year on year.

 

8. According to the National Development and Reform Commission, in the first five months of this year, China has approved 48 fixed-asset investment projects with a combined investment totaling RMB 654.2 billion. Among them, 10 fixed-asset investment projects were approved in May, with a total investment of RMB 121 billion, mainly covering areas in transport and water conservation.

 

9. According to data from the Ministry of Commerce, in the first five months of this year, Chinese firms inked service outsourcing contracts worth RMB 726.6 billion, up 11.9% year-on-year. The executed value totaled RMB 466.3 billion, representing a year-on-year increase of 14.6%. In US dollars, the year-on-year growth was 15.9% and 18.7% respectively.

 

 

(Information Source: Economic Daily)