1. Great potential for capital market to support private enterprises

 

This year, the resurgence of pandemic and complex international environment have been ravaging the business operations of private companies. Under such circumstances, it is necessary to enable the direct financing of capital market to play its role, so as to inject more “liquid capital” to the private economy, stabilizing the economy and social development. 

 

2. Stepping up the construction of new energy supplies and use system 

 

A meeting of the Political Bureau of the CPC Central Committee pointed out that it is vital to boost energy supply capacity and to step up the construction of new energy supplies and use system. In view of the severe and complicated international energy supply situation and the aim to achieve carbon peaking and carbon neutrality goals, the CPC Central Committee clarified the requirements on the new energy development, guiding the way of green energy transition.

 

3. Consumption coupons as leverage

 

Consumption is the ultimate demand, providing lasting drive force for economic growth. As a key measure to boost consumption and unleash potential, consumption coupons not only provide leverage in the short term, bolstering consumption in catering, tourism, shopping and other fields, but also hedge against the impact of the pandemic, reinvigorating consumer confidence.

 

 

1. The guideline to promote high-quality development of foreign cultural trade, released by the Ministry of Commerce and 26 other government departments, covered 28 measures include supporting import of high-quality cultural products and services, promoting digital cultural trade, expanding publication export and copyright trade, encouraging export of high-quality radio and television programs, enhancing the construction of the national cultural export base, and strengthening the protection of intellectual property rights, etc.

 

2. Rules on the administration of insurance asset management companies were issued recently, and will be implemented from September 1, 2022. A new chapter on corporate governance was added, so as to enhance the independence of insurance asset management companies and to strengthen the regulatory constraints on the supervision of corporate governance.  

 

3. The Bureau of Commerce in Shenzhen released its implementation rules on encouraging the establishment of regional headquarters of multinational corporations. According to these rules, the recognized regional headquarters of multinational corporations will be rewarded by RMB 3 million, RMB 5 million and RMB 6 million  respectively with regard to their actual use of foreign capital annually.

 

 

1. According to the National Bureau of Statistics, in July this year, China's consumer price index (CPI) rose by 2.7% year on year, an increase of 0.2 percentage points from the previous month.

 

2. According to the Ministry of Water Resources, as of the end of July this year, China had completed an investment of RMB 567.5 billion in water conservancy construction, an increase of 71.4% over the same period last year.

 

3. According to the General Administration of Customs, in the first seven months of this year, the total value of China's imports and exports was RMB 23.6 trillion, a year-on-year increase of 10.4%. Among them, exports were RMB 13.37 trillion, a year-on-year increase of 14.7%; imports stood at RMB 10.23 trillion, a year-on-year increase of 5.3%.

 

4. According to the State Administration of Foreign Exchange, China's foreign exchange reserves at the end of July this year were US$3,104.1 billion, an increase of US$32.8 billion or 1.07% from the end of June.

 

5. According to Kunming Customs, as of August 7 this year, Kunming Customs handled 1,996 international freight trains along the China-Laos Railway, with the total import and export volume hitting 1.021 million tons and total worth reaching about RMB 9.14 billion.

 

6. According to the Ministry of Natural Resources, in the first half of this year, China's gross ocean product was RMB 4.2 trillion; the three major shipbuilding indicators, namely the numbers of completed ships, new orders and orders in hand, continued to rank first in the world.

 

7. According to data from the State Administration of Foreign Exchange, in the first half of this year, China's current account surplus was US$169.1 billion, a year-on-year increase of 45%.

 

8. According to the China Federation of Logistics and Purchasing, China's commodity index in July this year was 101.3%, down 0.2 percentage points from the previous month.

 

9. According to the China Machinery Industry Federation, in the first half of this year, the operating revenue of firms in the machinery sector totaled RMB 12.95 trillion, a year-on-year increase of 5.44%.

 

(Information Source: Economic Daily)