1. Sharing benefits of Digital Silk Road

 

This year marks the tenth anniversary of Belt and Road Initiative. Over the past decade, China's digital industry has flourished, and international cooperation in related industries and digital economy has also been in full swing. Digital Silk Road is picking up speed. BRI has brought enormous opportunities to China and other countries around the world, not only promoting economic and social development of BRI partner countries, but also providing a solid support for China's digital industry to "go global".

 

2. Stabilizing expectations for private sector

 

Promoting the development of private sector is not only a key part of building a high-level socialist market economy system, but also a solid pillar for boosting high-quality development. We need to face up to the challenges. Chinese private enterprises have the courage and confidence to overcome these difficulties, and will become even stronger after overcoming the setbacks. 

1. On Oct. 31, China's State Council issued a general plan for establishing Xinjiang Pilot Free Trade Zone (FTZ) as a significant strategic move for promoting reform and opening-up in the new era. Xinjiang Pilot FTZ is the first in China's northwestern border regions, officially started operations on Nov. 1. It is expected to make a great contribution to Xinjiang's integration into the "dual circulation" development and a bridgehead for China's westward opening up.

     

2. In order to further optimize business environment, the State Council recently issued the decision on canceling and adjusting a batch of penalty items, which has canceled and adjusted 33 penalty items in industry and information technology, housing and urban-rural construction and other fields, among them, 16 penalty items were canceled, and 17 were adjusted.

 

3. China has revised its method of assessing the performance of State-owned commercial insurance companies, stressing more on long-term focus, according to a circular of Ministry of Finance unveiled on Oct. 30. The new assessment policy, which took effect on Nov 1, takes into consideration a State-owned commercial insurer's return on assets or ROA in both the past three years and the current year, to assess its ROA performance.

 

1. According to Ministry of Finance, from January to September, the gross income of state-owned enterprises amounted to RMB 61,968.95 billion, an increase of 3.9 percent year on year, with the total profit of RMB 3479.75 billion, up 4.3 percent year on year.

 

2. The drilling depth of China's first 10,000-meter scientific exploration well - Shendi Taco No.1 well - exceeded the 8,000-meter mark to 8,056 meters, showing its capacity to drill into difficult strata.

 

3. Data from Ministry of Ecology and Environment showed that As of Oct. 25 this year, the cumulative trading volume of carbon emission quotas had reached 365 million tons, with a total transaction value of RMB 19.437 billion, displaying stable operation of national carbon emissions trading market. 

 

4. A report released by People's Bank of China recently showed that cross-border RMB business has demonstrated stronger capacity to serve the real economy. The amount of RMB cross-border settlement amounted to RMB 38.9 trillion from January to September, with a year-on-year increase of 24 percent.

 

5. Data from Ministry of Industry and Information Technology showed that in the first three quarters, revenue of China’s major Internet and related service enterprises amounted to RMB 1029.4 billion, up 3.4 percent year on year, with the total profit reaching RMB 95.93 billion, up 18.2 percent year on year.

 

6. According to China Council for the Promotion of International Trade, a total of 4.55 million certificates for trade promotion, including Certificates of Origin, ATA Carnets, and commercial certificates, were issued during the first nine months this year, up 13.39 percent over the previous year.

 

7. As of Oct. 31, 225 companies listed on the Beijing Stock Exchange have released their third-quarter reports. In the first three quarters, the listed companies achieved a total revenue of RMB 120.351 billion, up 2.59% year on year. Among them, 201 (90%) made profits during the period.

 

8. According to China Light Industry Federation, from January to September, gross income of major light industry enterprises amounted to RMB 16.15 trillion, up 1.6 percent year on year, raking in RMB 953.70 billion in profits, up 1.9 percent year on year.

 

9. According to China Futures Association, total transaction volume stood at 550 million lots in October, with trading turnover coming in at RMB 40.27 trillion, a year-on-year increase of 22.42 percent and 20.59 percent respectively.

 

10. People's Bank of China made a RMB 194 billion reverse repurchase on Nov. 2 by way of interest rate bidding, so as to maintain reasonable and abundant liquidity in the banking system.

 

(Source: Economic Daily)