1. Confidence in China’s stable economic development in the long run

 

China’s economy has shown strong momentum of recovery, with improving performances in key economic indicators such as consumption and investment, stable price of commodities, and better market expectations. The contribution of China’s economy to the world’s economic growth is expected to exceed one third. China’s economy is of confidence and capacity to perform stably in the long run, making more contributions to world economy.

 

2. No basis for deflation in China’s economy

 

With balance of supply and demand, appropriate monetary conditions, and stable expectations from residents, there is no foundation for China’s economy to have long-time deflation or inflation. As financial support becomes more effective, consumption demand is expected to pick up, and consumer price is expected to return to the average level of past years. The tendency of CPI in the whole year will take a U-turn.

 

3. Effective investment boosts high-quality development

 

With implementation of a series of policies to stabilize economy, strong performance of infrastructure and manufacturing, and increasing investment in high-tech industries, China’s investment shows good momentum in growth. At present, it is important to improve both the quality and quantity so as to stabilize investment, actively play the key role of investment in optimizing supply structure, and increase investment in key areas, so as to better build new development pattern and boost high-quality development.

 

1. Guidelines on building standardization system of carbon peak and neutrality were released by the Standardization Administration, together with the National Development and Reform Commission, and the Ministry of Industry and Information Technology recently. According to these guidelines, standardization system of carbon peak and neutrality consists of four subsystems, namely general standard, standard on carbon reduction, standard on carbon clearance, and marketization standard. 

 

2. Interim provisions for overseas higher education institutions to set up institutions in Hainan Free Trade Zone were released by The Ministry of Education and Hainan government, providing general rules for overseas higher education institutions to run institutions in Hainan Free Trade Zone.

 

 

1. According to data from the Ministry of Commerce, China's non-financial outbound direct investment (ODI) in the first quarter of this year was RMB 215.97 billion, a year-on-year increase of 26.3%.

 

2. According to the Ministry of Industry and Information Technology, the added value of China's major industrial enterprises increased by 3% year on year in the first quarter of this year, which is 0.3 percentage points higher than the fourth quarter of last year, reversing the continuous downward trend since October last year.

 

3. According to the Ministry of Agriculture and Rural Affairs, China's imports and exports of agricultural products maintained growth in the first quarter of this year, totaling USD 83.38 billion, an increase of 11.6% year on year.

 

4. According to Haikou Customs, 34.28 million shoppers had purchased RMB 185 billion of offshore duty-free products on the island over the past 12 years as of April 19, 2023.

 

5. According to the State Administration of Foreign Exchange, Chinese foreign exchange market achieved a good start in the first quarter of this year. The accumulative amount of foreign exchange settlement and sales by banks was RMB 7.6 trillion and the amount of cross-border receipts and payments by non-banking sectors was RMB 20.1 trillion.

 

6. According to data from the Ministry of Commerce, in the first quarter of this year, Chinese firms inked service outsourcing contracts worth RMB 576.8 billion, with executed contract value coming in at RMB 396.1 billion, an increase of 18.2% and 24.4% year on year, respectively.

 

7. According to data from the Shanghai Municipal Bureau of Statistics, in the first quarter of this year, Shanghai achieved a regional GDP of RMB 1,053.622 billion, a year-on-year increase of 3.0%.

 

8. The latest data from the Ministry of Transport shows that China's fixed assets investment in highway and waterway transportation reached RMB 588.9 billion in the first quarter of this year, up 15.0% year on year.

 

9. According to the National Energy Administration, as of the end of March this year, China's installed power generation capacity was about 2.62 billion kilowatts, a year-on-year increase of 9.1%. Among them, the installed capacity of wind power was about 380 million kilowatts, an increase of 11.7% year on year; installed capacity of solar power generation was about 430 million kilowatts, an increase of 33.7% year on year.

 

10. According to the General Administration of Customs, there were 90,000 enterprises newly registered in customs in the first quarter of this year, a year-on-year increase of 59.8%.

 

(Source: Economic Daily)