1. Accurately address the demands and concerns of private enterprises

 

The guideline released by the CPC Central Committee and the State Council to boost the growth of the private economy is a milestone in the history of private sector development. Many private enterprises have been facing some problems and challenges for a period of time. Thus there is an urgent need to improve the mechanism to promote the private economy in response to the new situation, and boost confidence in the expectations of private economy. It is important to address each major concern encountered by private enterprises.  

 

2. Continuously expand domestic demand

 

In the first half of this year, with the implementation of various policies and measures to expand domestic demand, the potential of domestic demand continued to be released. Meanwhile, in face of complex and severe external environment, it is important to expand domestic demand in the second half of this year, so as to promote sustained, stable, and healthy economic development. Consumption and investment are two significant aspects where policies and measures need to be optimized so as to jointly give full play to the fundamental role of consumption and the key role of investment. 

 

3. Accelerate the fostering of innovation-driven force

 

In the first half of this year, China's economy as a whole recovered, with adjusted and optimized economic structures, and continued improvement in the innovation-driven force of economic development. At present, China's economy encounters pressures under the current complicated political and economic circumstances of the world. It is thus of greater importance to foster innovation-driven force. We will continue focusing on the primary task of high-quality development, constructing modernized industrial system, and improving the advancement of industrial foundation and modernization of industrial chains.  

 

 

1. The National Development and Reform Commission recently issued a notice on further promoting the private investment and boosting the mobilization of private investment. According to the notice, 17 measures have been put forward on four aspects including clarifying working objects, focusing on key areas, improving the safeguard mechanism, and creating a good environment. 

 

2. Measures on promoting the automobile consumption formulated by the National Development and Reform Commission and other departments were released recently, proposing to further stabilize and expand automobile consumption, optimize the management and market of automobile consumption, and make greater efforts to enhance the sustained and healthy development of new energy vehicles. 

 

 

1. According to the Ministry of Finance, in the first half of this year, China's general public budgeting revenue was RMB 11.92 trillion, up 13.3 percent year on year.

 

2. The State Administration of Foreign Exchange reported that in the first half of this year, the accumulative amount of cross-border receipts and payments by non-banking sectors exceeded USD 6 trillion, the second highest in history over the same period.

 

3. According to the Ministry of Industry and Information Technology, in the first half of this year, China's telecommunications business revenue increased by 6.2 percent, and the total business volume increased by 17.1 percent year-on- year. A total of 2.937 million 5G base stations were built and put into operation, with 676 million 5G mobile phone users and over 2.12 billion mobile IoT terminals.

 

4. Data released by the China National Intellectual Property Administration showed that China held more than 4.56 million valid invention patents by the end of June, up 16.9 percent year-on-year. 

 

5. Data shows that from January to May this year, 2096 new foreign-funded enterprises registered in Shanghai, a year-on-year increase of 78.7 percent; The actual use of foreign capital was USD 11.17 billion, a year-on-year increase of 17.3 percent.

 

6. The country's non-financial outbound direct investment (ODI) rose 22.7 percent year on year to RMB 431.61 billion in H1, according to the Ministry of Commerce.

 

7. The latest data shows that in the first half of this year, China's high-tech industry investment increased by 12.5 percent year-on-year, faster than the total investment by 8.7 percentage points.

 

8. According to customs statistics, in the first half of this year, the total imports and exports of foreign trade in the Yangtze River Delta region reached RMB 7.32 trillion, a year-on-year increase of 2.7 percent, accounting for 36.4 percent of the national total. Among them, the imports and exports with countries along the "the Belt and Road" was RMB 2.22 trillion, and the imports and exports to other RCEP member countries was RMB 2.25 trillion, accounting for 32.3 percent and 36.9 percent of the national total respectively.

 

9. According to data from the China Gold Association, in the first half of this year, the domestic raw material gold production was 178.598 tons, an increase of 3.911 tons or 2.24 percent compared to the same period in 2022.

 

10. According to Asset Management Association of China, by the end of June, there were 144 fund management companies in China.