Promote high-quality development of rural economy

 

Rural circulation, as an important part of modern circulation system instrumental to rural revitalization, connects urban and rural areas, production and consumption. Rooted in rural areas, rural economy serves the life of more than 700 million people in the region, and is thus a significant channel and carrier for circulation of urban and rural commodities, services, and production factors. To further promote the development of county business will enhance the upgrading of the whole rural industry chain, and improve the market competitiveness and the capacity of sustainable development. 

 

1.Guidelines on promoting the recycling of decommissioned wind power and photovoltaic equipment were released on August 17 by the National Development and Reform Commission and other departments. According to these guidelines, a recycling system for wind power and photovoltaic equipment will be established covering green design, standardized recycling, high-value application, and harmless disposal.

 

2.According to China Securities Regulatory Commission, Shanghai Stock Exchange, Shenzhen Stock Exchange, and Beijing Stock Exchange will further reduce the handling fees for securities transactions since August 28.

 

3.Guidelines on the high-quality development of business credit system construction were issued by the Ministry of Commerce, the National Development and Reform Commission, and the National Commission on Financial Regulation. According to the guidelines, more support will be delivered to consumer credit for purchasing automobiles, household appliances, home furnishings, and other products within a reasonable range, and efforts will also be made to optimize the interest rates and expense level.

 

 

1.China's non-financial outbound direct investment (ODI) increased 18.1 percent year on year to RMB 500.94 billion in the first seven months of the year, official data from the Ministry of Commerce showed on August 17th.

 

2. China's futures market posted strong year-on-year growth in both transaction volume and turnover in the first half of 2023, according to the China Futures Association. The trading volume surged by 29.71 percent year on year to over 3.95 billion lots in the January-June period, bringing the total turnover to RMB 262.13 trillion (about USD 36.76 trillion) in the period, the data showed.

 

3.The National Financial Regulatory Administration released data on August 18 showing that in the first half of the year, commercial banks achieved a cumulative net profit of RMB 1.3 trillion, a year-on-year increase of 2.6 percent.

 

4. According to the Ministry of Commerce, In July, the total retail sales of consumer goods reached RMB 3.7 trillion, a year-on-year increase of 2.5 percent; From January to July, the cumulative amount was RMB 26.4 trillion, a year-on-year increase of 7.3 percent, maintaining steady recovery.

 

5.The latest data shows that from January to July this year, China's shipbuilding industry ranked first in the world in all three major indicators. Meanwhile, the capacity held by Chinese ship owners reached 249.2 million deadweight tons(dwt), surpassing Greece as the world's largest ship owner country for the first time.

 

6. According to the Ministry of Finance, from January to July, the national general public budget revenue was RMB 13.933 trillion, a year-on-year increase of 11.5 percent, and the fiscal revenue continues to grow.

 

7. The seventh China-South Asia Expo concluded in Kunming, the capital of southwest China's Yunnan Province on August 20 with 483 projects inked. Among them, 342 investment projects were signed with a total investment of RMB 413 billion; 141 commercial contracts signed with a total amount of USD 10.5 billion, organizers said.

 

8. According to the Ministry of Commerce, in the first half of the year, China's imports and exports of travel services reached RMB 650.94 billion, a year-on-year increase of 65.4 percent, making it the fastest growing trade in service sector.

 

9.The 2023 (China) Eurasia Commodity and Trade Expo started on August 17 in Urumqi, the capital of northwest China's Xinjiang Uygur Autonomous Region, with a focus on trade promotion. A total of 64 trade and investment promotional activities took place during the five-day event. 360 economic and trade cooperation projects were signed with a total amount of RMB 521.037 billion.

 

10. According to the Ministry of Transport, as of the end of July this year, 47000 kilometers of rural road safety and life protection projects have been implemented nationwide, and 4033 dilapidated bridges on rural roads have been renovated. The Ministry of Transport plans to implement 50000 kilometers of new rural road safety and life protection projects and 5000 dilapidated bridge renovations throughout the year.

 

 

(Source: Economic Daily)