1.RCEP keeps on delivering dividends 

 

The Regional Comprehensive Economic Partnership Agreement (RCEP) recently entered into full force for 15 signatory countries, and it will provide strong support for China's high-level opening-up to the world. To fully enjoy its policy dividends, it is important to further play the positive role of the agreement in promoting high-quality economic development. Since the implementation of RCEP, the initial results have emerged. With closer trade ties, intra-regional trade has become a key force to stabilize and drive the growth of foreign trade among member countries. 

 

2.Guideline sets out key tasks on water network

 

Chinese authorities have issued a guideline for shoring up the construction of a national water network amid the country's efforts to enhance the capability to safeguard water security. To timely complete the objectives and tasks of the planning outline, we should strengthen the organization and implementation with policy and technological support. To form a national water network, it is important to build and complement the network, and strengthen the chain, so as to promote the balance of water resources and population, and to support high-quality economic and social development.

 

3.Hold the key to restore and expand demand

 

Improving the expectation and boosting confidence is an important prerequisite to restore and expand the demand. Only through mobilizing all sectors, will enterprises actively expand investment, the consumption potential of residents be released, social innovation and creativity burst forth, and foreign investors be more optimistic about the Chinese market. To further stabilize expectations and confidence, it is vital to give full play to enterprise and entrepreneurial initiative, and a more powerful and targeted policy will help enterprises alleviate their difficulties.

 

 

 

1.The national standard of blockchain and distributed ledger technology reference architecture is officially released. It is the first national standard in the  blockchain technology approved for release in China.

 

2.Recently, representatives of the governments of China and Argentina signed a cooperation plan in Beijing to jointly promote the Belt and Road Initiative.

 

3.Industrial and Commercial Bank of China, Agricultural Bank of China, China Construction Bank, Bank of China, Bank of Communications of China and Postal Savings Bank of China issued announcements to lower the deposit rates from June 8.

 

 

 

1. According to the latest data from the Ministry of Commerce, China's trade in services maintained an overall growth trend from January to April this year. The imports and exports of services reached RMB 2081.65 billion, a year-on-year increase of 9.1%.

 

2. According to the General Administration of Customs, in the first five months of this year, China's total value of imports and exports was RMB 16.77 trillion, a year-on-year increase of 4.7%. Among them, exports reached RMB 9.62 trillion, an increase of 8.1%; imports reached RMB 7.15 trillion, an increase of 0.5%; Trade surplus reached RMB 2.47 trillion, an increase of 38%.

 

3. The State Administration of Foreign Exchange reported that at the end of May this year, China's foreign exchange reserves stood at USD 3,176.5 billion, down USD 28.3 billion, or 0.88% from the end of April.

 

4. According to the latest statistics from the Ministry of Civil Affairs, as of now, over 110,000 industry associations and chambers of commerce have registered in China, with a total of approximately 7.5 million enterprise members and total assets exceeding RMB 350 billion.

 

5. China had over 2.73 million 5G base stations by late April. The 5G network covered all prefecture-level cities, counties and urban areas of the country, and 5G mobile phone users reached 634 million.

 

6. Total trading volume in China's futures market topped 825 million lots in May, increasing 75.16% year on year. The market's trading turnover stood at RMB50.37 trillion (about USD 7.1 trillion) last month, up 25.6% from a year ago, according to data from the China Futures Association.

 

7. According to the China Securities Regulatory Commission, foreign investment has continued flowing into A-shares since the beginning of this year, with a net inflow of RMB 170 billion through stock connect programs from January to May.

 

8. According to the China Federation of Logistics and Purchasing, the prosperity index of China's logistics industry in May was 51.5%, a decrease of 2.3 percentage points compared to the previous month, and it remains within the expansion range.

 

9. National Railway Group reported that from January to May this year, it completed RMB 206.1 billion of fixed assets investment, an increase of 7% over the same period last year.

 

 

(Source: Economic Daily)