1. It is crucial to boost market confidence

 

China's economy is facing triple pressure of demand contraction, supply shock and weakening expectations. Market confidence has a great impact on the effectiveness of policy implementation. Recently, the central and local governments have been introducing various policies to relieve difficulties. To make these policies really effective, it is necessary to reduce the uncertainties of market players about the future, enhance confidence in development, and stimulate the momentum and vitality of economic growth.

 

2. Expand foreign trade opportunities in line with the times

 

In November this year, the growth rate of China's imports and exports declined, but the fluctuations in single-month data do not change the long-term development trend of foreign trade for the better. In the face of changes in the external environment, China's foreign trade must change with the times and follow the trend. Through a deeper and more vigorous opening up, China ensures that foreign trade operate in a reasonable range, and continue to provide a strong impetus for the global economic recovery.

 

 

1. The Central Committee of the Communist Party of China and the State Council recently issued the "Outline of the Strategic Plan for Expanding Domestic Demand (2022-2035)". The Outline points out that the firm implementation of the strategy to expand domestic demand and cultivate a complete domestic demand system is an inevitable choice to accelerate the fostering of a new development pattern that is focused on the domestic economy and features positive interplay between domestic and international economic flows. It is also a strategic decision to promote China's long-term development and stability.

 

2. The Ministry of Industry and Information Technology, the National Development and Reform Commission, the Ministry of Housing and Urban-Rural Development and the Ministry of Water Resources recently issued the "Guidance on the industrial green development in the Yellow River Basin", proposed to resolutely curb the blind development of projects with high pollution, high water and energy consumption in the Yellow River Basin.

 

3. Ten banks, including Shanghai Branchs of the Industrial and Commercial Bank of China, Agricultural Bank of China and Bank of China, have jointly issued the " Comprehensive Service Plan on Shanghai Financial Support for the Recovery and High-Quality Development of Culture and Tourism Industry ", which clearly pointed out to increase financial support for the culture and tourism industry.

 

 

1. According to General Administration of Customs, from January to November this year, China’s trade of goods totaled RMB 38.34 trillion, rising 8.6% year on year. Among them, export rose 11.9% to RMB 21.84 trillion; import rose 4.6% to RMB 16.5 trillion; trade surplus expanded 42.8% to RMB 5.34 trillion.

 

2. According to State Administration of Foreign Exchange, by the end of November this year, China's foreign exchange reserves stood at USD 3117.5 billion  up 65.1 billion US dollars, or 2.13%, from the end of October.

 

3. According to Ministry of Public Security, by the end of November this year, China’s auto parc reached 415 million, in which the car parc reached 318 million. 

 

4. Data from the National Bureau of Statistics showed that in November this year, China’s consumer prices rose 1.6% year on year, while consumer prices fell 0.2% from the previous month.

 

5. According to Ministry of Water Resources, by the end of November this year, the investment in water conservancy construction reached RMB 1008.5 billion, increasing 33% over last year, the highest since the founding of new China.

 

6. Data from China Association of Automobile Manufacturers showed that from January to November this year, the production and sales of China’s new energy vehicles reached 6.253 million and 6.067 million respectively, both doubling year on year, with a market share of 25%.

 

7. Ministry of Finance recently issued this year’s fourth batch of RMB-denominated treasury bonds worth RMB 5 billion for institutional investors in Hong Kong Special Administrative Region, with a total subscription amount reaching RMB 17.68 billion, 3.54 times of the issuance volume.

 

8. From January to November this year, the coal shipment through the railroads reached 1.91 billion tons, increasing 8.1% of 143 million tons year on year.

 

9. The financial statistics of November released by the People’s Bank of China showed that by the end of November, the balance of broad money supply (M2) was RMB 264.7 trillion, with an increase of 12.4% year on year.

 

10. According to Beijing Customs, during the first 11 months of this year, import and export value in Beijing (including central institutions based in Beijing) totaled RMB 3.3 trillion, more than the whole value of last year, with an increase of 19.4% over the same period last year, 10.8 percentage points higher than the national growth rate.

 

(Information Source: Economic Daily)