1. Consolidate and expand the upward and recovery trend of economy

 

According to statistics from the National Bureau of Statistics, China's economy has withstood the downward pressure and continued to recover in October, 2022. It is important to expand the upward and recovery trend of economy. We should focus on the lack of social demands, and implement relevant policies and plans comprehensively and efficiently to ensure a reasonable growth rate of economy. 

 

2. Reshape the new advantages with modernized industrial system

 

To correctly understand the strategic significance as well as decisions and arrangements of modernized industrial system is vital for building a modernized economic system, promoting high-quality development, and reshaping China's new industrial advantage. To build a modernized industrial system, we need to consolidate the foundation of real economy, improve innovation-driven development, and continuously enhance the home-grown driving force of modernized industrial system.

 

3. Enhance the role of fund industry in serving the real economy

 

As an important component of China's financial system, the fund industry should better play the role of professional institutional investor to guide more social capital in empowering the real economy. In recent years, with the deepening reform of capital market, the fund industry has continuously improved its investment management capacity and expanded its industry scale. It effectively supports the high-quality development of real economy while meeting the needs of asset management for residents.   

 

 

1. The People's Bank of China and State Administration of Foreign Exchange jointly issued regulations on funds management for foreign institutional investors to invest in China's bond market, clarifying the requirements on funds management for foreign institutional investors to invest in China's bond market.

 

2. The overall plan of building pilot financial reform zones for scientific and technological innovation in cities of Shanghai, Nanjing, Hangzhou, Hefei and Jiaxing was released by the People's Bank of China and other seven departments recently. According to this plan, these cities will promote financial reform for scientific and technological innovation, so as to increase the financial support for innovation.  

 

3. Notice of the People's Bank of China and the China Banking and Insurance Regulatory Commission on Providing Financial Support for the Stable and Healthy Development of the Real Estate Market was issued recently. According to this notice, under the national framework, local governments can implement differentiated credit policies suited to local circumstances, setting city-specific down payment ratios or mortgage rate floors, in order to meet basic and improving housing demand.

 

 

1. According to the Ministry of Finance, from January to October this year, China's general public budget revenue was around RMB 17.34 trillion, an increase of 5.1% after deducting the tax refund factor; the national general public budget expenditure exceeded RMB 20 trillion, a year-on-year increase of 6.4 %.

 

2. According to the National Development and Reform Commission, from January to October this year, a total of 97 fixed asset investment projects were approved, with a total investment of RMB 1.423 trillion, mainly concentrated in energy, transportation, water conservancy and other industries.

 

3. According to the Ministry of Water Resources, from January to October this year, a total of 24,000 water conservancy projects were newly launched, more than 5,200 compared with the same period last year, including 45 new major water conservancy projects, a historic record high.

 

4. The list of the top 100 enterprises in the Yangtze River Delta in 2022 has been released recently. The operating income of the top 100 companies in the Yangtze River Delta reached 18.9 trillion yuan in 2021, a year-on-year increase of about 17.5%.

 

5. According to data from the China Association of Automobile Manufacturers, in the first 10 months of this year, both the production and sales of new energy vehicles in China exceeded 5 million respectively, maintaining a high growth trend.

 

6. According to the statistics of Shenzhen Customs, in the first 10 months of this year, the import and export container throughput of Shenzhen Port reached 22.42 million TEUs, and the import and export trade value reached RMB 3.52 trillion, a year-on-year increase of 32.3%, of which the export trade value reached RMB 3.22 trillion, all hit record highs.

 

7.According to the Ministry of Transport, from January to October this year, China completed over RMB 2.46 trillion in fixed asset investment in road and waterway transportation, a year-on-year increase of 9.5%.

 

8. According to the China Banking and Insurance Regulatory Commission, from January to October this year, China's banking industry issued a total of 2.64 trillion yuan in real estate development loans and 4.84 trillion yuan in mortgage loans.

 

9. According to the Ministry of Industry and Information Technology, From January to October this year, the operation of China's software and information technology service industry was stable and improving. The software business revenue was RMB 8.421 trillion, a year-on-year increase of 10.0%, and the growth rate increased by 0.2 percentage points compared with the previous three quarters.

 

(Information Source: Economic Daily)