1. Stable and quality growth in foreign trade

 

Recently, the intensified efforts to stabilize growth are showing effects in foreign trade. Since May, foreign trade enterprises have resumed work and production in an orderly manner, the industrial and supply chains have become stable and smooth, and the import and export have seen rapid recovery and growth.

 

2. Accelerate the formation of scientific and technological innovation clusters

 

To synergize the scientific and technological innovation entities to form a more competitive cluster is following the trend of the international and domestic situation. In order to accelerate the transformation of China from a big manufacturing country to a strong manufacturing country, China still needs to work hard to improve its independent innovation capabilities, and it must be better and stronger in all fields and aspects.

 

3. Increase support for infrastructure financing

 

Infrastructure is a key foundation for economic and social development. In the short term, infrastructure construction attracts large investments with a long industrial chain, and creates many job opportunities, which will help stabilize the economy. In the long run, strengthening infrastructure construction will help ensure national security, expand domestic demand, and promote high-quality development.

 

 

1. Recently, the Ministry of Ecology and Environment, the National Development and Reform Commission and other five departments have jointly issued the "Implementation Plan for Synergetic Control of Environmental Pollution and Carbon Emissions", proposing that the work pattern of coordinated efforts of reducing pollution and carbon emissions will be basically formed by 2025, and the capacity of this endeavor will be significantly improved by 2030. 

 

2. The People’s Bank of China recently issued the "Notice on Supporting Cross-border RMB Settlement in New Forms of Foreign Trade" to support banks and payment institutions to better serve the development of new forms and models of foreign trade, which will be implemented from July 21 this year.

 

3. China National Intellectual Property Administration recently issued the "Plan on Constructing National Intellectual Property Protection Demonstration Zones", proposing that by 2025, about 20 cities (regions) across the country will be selected to complete the construction work, and will be identified as demonstration zones after evaluation, in an effort to create a number of intellectual property protection centers.

 

 

1. According to the State-owned Assets Supervision and Administration Commission of the State Council, the total assets of the supervised enterprises reached RMB 259.3 trillion by the end of 2021, 2.6 times that at the end of 2012, with an annual growth of 15.4 percent.

 

2. In the first five months of this year, China Post handled a total of 11.79 billion parcels, up 11.1 percent year-on-year. China's courier sector has handled 40.95 billion parcels, with a year-on-year increase of 3.3 percent, data from the State Post Bureau showed.

 

3. The customs statistics showed that Shenzhen-Hong Kong trade volume surged from RMB 70.14 billion in 1997 to RMB 722.54 billion in 2021, up over ten times. In the first five months of this year, Shenzhen-Hong Kong trade volume amounted to RMB 213.46 billion.

 

4. According to the Ministry of Industry and Information Technology, in the first five months of this year, China’s power battery industry continued to be on fast track, with an installed capacity of 83.1GWh, an increase of 100.8 percent year-on-year.

 

5. A work plan for improving digital consumption recently released by the Beijing Bureau of Economy and Information Technology and the Beijing Bureau of Commerce showed that   information consumption will reach RMB 350 billion and the livestreaming e-commerce turnover is projected to reach RMB 1 trillion  in 2022.

 

6. The National Audit Office delivered a report on the central government’s budget implementation and other financial revenue and expenditure for 2021. Revenue in the central government’s general public budget amounted to RMB 9340.541 billion, the total expenditure hit RMB 12090.541 billion, and the deficit was RMB 2750 billion, which is consistent with the budgeted figure. 

 

7. The People’s Bank of China successfully issued RMB 5 billion worth of central bank bills in Hong Kong on June 21, with an interest rate of 2.3 percent. 

 

8. According to the General Administration of Customs, in the first five months of this year, China’s bilateral trade with Russia, Brazil, India, and South Africa continued to grow, with a total import and export value of RMB 1.31 trillion, an increase of 12.1 percent year-on-year.

 

(Information Source: Economic Daily)