1. Infrastructure fully tapped in stabilizing growth

 

Infrastructure is a significant support for economic and social development. Infrastructure enhancement will not only improve weak links, but also effectively boost demand. It is of great importance for smooth domestic flow, dual circulation, and high-quality development.

 

2. Take reform benefit to lower financing costs

 

The policies to stabilize economy is like a relay race, and continuous reduction in financing costs is a key part. As proposed by the State Council Executive Meeting recently, it is vital to take the benefit of loan prime rate mechanism reform to lower the costs of corporate financing and consumer loans.

 

3. Ensuring smooth logistics 

 

The recent State Council Executive Meeting deployed the continuation policies and measures after the policy package to stabilize economy, among which, the logistics are required to remain guaranteed. Smooth logistics will safeguard the economic operation and normal life, promote the stability of the industrial chain and supply chain, and stabilize the economy.

 

 

1. Regulation measures regarding on online drug sale were released by the State Administration of Market Regulation, and will be implemented on December 1, 2022. According to these measures, the regulation on online drug sale, the platform responsibility, supervision measures and legal responsibilities are clarified. 

 

2. According to China Securities Regulatory Commission, starting from September 2, 2022, qualified foreign institutional investors and qualified RMB foreign institutional investors may trade in some futures and options contracts in four futures exchanges in China, which marks further opening of China’s futures market to the foreign capital. 

 

3. The People’s Bank of China decided to cut the reserve requirement ratio for foreign currency deposits of financial institutions by 2 percentage points starting from September 15, 2022, which means the reserve requirement ratio for foreign currency deposits will be reduced from the current 8% to 6%.

 

 

1. According to data from the China Federation of Logistics and Purchasing, China's commodity index was 102.3% in August this year, up 1.0 percentage points from the previous month and the highest level since May 2021.

 

2. According to the Ministry of Commerce, from January to July this year, China's trade in services continued to maintain steady growth, totaling RMB 3,392.21 billion, a year-on-year increase of 20.7%.

 

3. According to the Ministry of Industry and Information Technology, from 2012 to 2021, the added value of China's raw materials industry increased from RMB 6.9 trillion to RMB 10.7 trillion, with an average annual growth rate of 4.5%, accounting for around 10% of GDP.

 

4. Data from the China Association for Public Companies shows that in the first half of this year, 4,825 listed companies achieved a total operating income of RMB 34.54 trillion, a year-on-year increase of 9.24%; net profit stood at RMB 3.25 trillion, a year-on-year increase of 3.19%.

 

5. According to data from the General Administration of Customs, in August, China's total value of imports and exports stood at RMB 3.71 trillion, an increase of 8.6% year on year. In the first eight months of this year, the number came in at RMB 27.3 trillion, a year-on-year increase of 10.1%.

 

6. Statistics from Kunming Customs show that since the opening of the China-Laos Railway nine months ago, the total value of international freight has exceeded RMB 10 billion for the first time, and the domestic shipping has covered 30 provinces (autonomous regions and municipalities) across China, serving more than 1,500 domestic enterprises.

 

7. According to the China Banking and Insurance Regulatory Commission, China is now the second largest insurance market in the world, with the total assets of the industry approaching RMB 27 trillion, and the main indicators remain within a reasonable range.

 

8. According to the Ministry of Commerce, from January to July this year, China exported 295,000 new energy vehicles, contributing 46.6% to the export of vehicles.

 

 

(Information Source: Economic Daily)