1.Maintain global industrial and supply chains stable

 

At present, the global economy is facing more uncertainties. It is more urgent to maintain the global industrial and supply chains resilient and stable. Cooperation and coordination between nations become crucial. Maintaining the resilience and stability of global industrial and supply chains is an important guarantee for world economic development and serves the common interests of people around the world. China is committed to opening up at a high level and contributing its share to the resilience and stability of global industrial and supply chains.

 

2.Better conserve and utilize resources in key areas

 

China proposes to better conserve resources in key areas such as energy, industry, architecture and transportation, give play to the supporting role of technological innovation, so as to reduce carbon emissions in production. China is in the rapid development of new industrialization, informatization, urbanization, agricultural modernization, with increasing demand for resources. It is important to better conserve and utilize the resources in key areas for sustainable development.

 

3.Promote green and low-carbon lifestyle

 

To promote a green and low-carbon lifestyle is not only a continuance of traditional Chinese virtue of thrift but also instrumental for ecological civilization, so as to achieve carbon peaking and carbon neutrality goals. It will also comply with the trend of consumption upgrade and supply-side structural reform, and create new growth drivers.    

 

 

1.Measures for compliance management of China's central government-owned companies were released recently by the State-owned Assets Supervision and Administration Commission of the State Council and will be implemented on October 1, 2022. According to the document, China's central government-owned companies should establish chief compliance officer and compliance reviews must be embedded in the business management process, so as to promote the compliance management, control risk and pave the way for deepened reform and high-quality development.  

 

2.The implementation plan for constructing national training bases for high skill talents and studios for masters was released by the National Ministry of Human Resources and Social Security and the Ministry of Finance, supporting more than 400 training bases and more than 500 studios from 2022 to 2025.  

 

 

1. According to the report of the National Bureau of Statistics, from 2013 to 2021, China's Gross Domestic Product (GDP) grew by an average of 6.6% annually, which was higher than the average growth level of 2.6% in the world and 3.7% in developing economies in the same period, contributing more than 30% of the global economic growth, ranking first in the world.

 

2. The Cyberspace Administration of China revealed that the scale of China's digital economy had ranked second in the world for many consecutive years, increasing from RMB11 trillion in 2012 to RMB45.5 trillion in 2021, accounting for an increase from 21.6% to 39.8% of GDP.

 

3. The 19th China-ASEAN Expo and China-ASEAN Business and Investment Summit were held in Nanning, Guangxi provence recently. A total of 267 investment cooperation projects were signed, worth RMB413 billion, an increase of 37% over the previous session. Among them, there are 87 projects, each worth more than RMB1 billion.

 

4. According to the State Post Bureau, in August this year, China's express delivery business volume completed 9.43 billion pieces, a year-on-year increase of 4.9%; business income reached RMB88.39 billion, a year-on-year increase of 5.2%.

 

5. According to data from the General Administration of Customs, in the first eight months of this year, China's imports and exports with other SCO member countries amounted to RMB1.73 trillion, a year-on-year increase of 26%.

 

6. According to the Ministry of Commerce, from January to August this year, China's actual use of foreign capital was RMB892.74 billion, an increase of 16.4% year-on-year on a comparable basis, equivalent to 138.41 billion US dollars.

 

7.According to the National Development and Reform Commission, China's power generation amounted to 5.6 trillion kilowatt-hours in the first eight months, a year-on-year increase of 2.5%; power generation rose 9.9% year-on-year to 824.8 billion kilowatt-hours in August.

 

8. Trade between China and the other 14 Regional Comprehensive Economic Partnership (RCEP) members reached RMB8.32 trillion in the first eight months of this year, accounting for 30.5% of China's total foreign trade. Since RCEP came into force on Jan 1 this year, it has delivered increasingly prominent dividends.

 

9. According to the report of the National Bureau of Statistics, from 2013 to 2021, the average annual growth rate of the added value of China's service industry was 7.4%, which was 0.8 and 1.4 percentage points higher than the average annual growth rate of the GDP and the added value of the secondary industry respectively. 

 

(Information Source: Economic Daily)