1. Sustaining a sound growth momentum for exports of new energy products

 

At the recently concluded 134th Canton Fair, the new energy products represented by lithium-ion batteries, electric manned vehicles and solar cells continued to be popular, receiving a large number of orders from overseas buyers. In the long run, the enterprises of new energy products need to enhance their market competitiveness through measures such as strengthening independent research and development, improving product quality, and reducing operation and maintenance costs, especially reinforcing cooperation with upstream and downstream industries, and continuously enhancing the position of new energy products in the global value chain.

 

2. Foundation for industrial recovery and growth needs consolidating

 

In the first nine months, the value-added industrial output registered a 4 percent year-on-year growth, with a growth rate of 0.2 percentage points faster than the first half of this year, showing a positive trend of recovery. This hard-won outcome fully demonstrates the development potential and resilience of China's industrial economy. However, the industrial sector still faces serious challenges in the fourth quarter and requires continuous efforts to consolidate the foundation for recovery and improvement.

 

1. China will strive to establish a preliminary innovation system for humanoid robots by 2025, amid the country's push to develop the future industry. The comprehensive strength will reach the world's advanced level and become an important new engine for economic growth by 2027, according to the guideline issued by the Ministry of Industry and Information Technology.

 

2. China will launch carbon-peaking pilot projects in 100 cities and zones nationwide to solve bottlenecks constraining the country's green and low-carbon development and explore paths toward carbon-peaking for different areas, according to a plan unveiled by the National Development and Reform Commission.

 

3. Xiong'an New Area in Hebei province announced a set of policy measures on Nov. 7 to attract talents from all over the world, aiming to equip itself with personnel to build an innovation hub and a hot spot for entrepreneurship.

 

 

1. China's service trade value grew 7.7 percent year on year or hit RMB 4.82 trillion (about 672 billion U.S. dollars) in the first nine months of this year, data from the Ministry of Commerce showed on Nov. 1.

 

2. China's outstanding green loans in both local and foreign currencies have reached RMB 28.58 trillion as of the end of the third quarter, a year-on-year increase of 36.8 percent, 26.6 percentage points higher than the growth rate of various loans, and an increase of RMB 6.98 trillion compared to the beginning of the year, according to the People's Bank of China, the country's central bank.

 

3. The China International Import Expo (CIIE) kicked off on Nov. 5. The 6th CIIE has set a new record with 289 Global Fortune 500 companies and industry leaders in attendance.

 

4. The Monetary Policy Department of the People's Bank of China issued a document on Nov. 6, stating that the work of cutting interest rates on existing mortgages for first-home loans and easing mortgage rules has been basically completed. The interest rates on existing mortgages have been reduced by over RMB 22 trillion, benefiting over 50 million households and 150 million people. The annual interest expenses of borrowers have been reduced by RMB 160-170 billion, with an average annual decrease of 3200 yuan per household.

 

5. A major gas and oil processing station in the Fuman oilfield, located in the Tarim Basin, was put into operation in the evening of Nov 5, according to the Tarim oilfield branch of PetroChina, China's leading oil and gas producer. The Fuman oilfield, China's largest ultra-deep oilfield, boasts more than 1 billion tonnes of oil and gas resources, which are mainly detected underground at 7,500 meters to 10,000 meters deep.

 

6. China's production of non-ferrous metals maintained steady growth in the first three quarters of the year, the Ministry of Industry and Information Technology said on Nov 7. The added value of the non-ferrous metal industry increased by 6.2 percent year on year, 2.2 percentage points higher than the industrial average growth rate.

 

7. As of September end, the number of registered business entities nationwide stood at 181 million, up 6.7 percent from the end of 2022, according to data released by the State Administration for Market Regulation on Nov. 7. 

 

8. In the first three quarters of this year, the national patent and trademark pledge financing reached RMB 495.03 billion, up 52.9 percent year on year, according to the China National Intellectual Property Administration.

 

9. A total of 859 investment and trade deals worth about RMB 2.24 trillion (about 312 billion U.S. dollars) have been signed at an investment promotion event for the Guangdong-Hong Kong-Macao Greater Bay Area held on Nov 8, attracting guests from over 20 countries and regions. 

 

10.Since the three-year action of state-owned enterprise reform, the amount of equity cooperation between central state-owned enterprises and private enterprises and other social capital has exceeded RMB 900 billion, enhancing the resilience and competitiveness of China's industrial and supply chains，the State-owned Assets Supervision and Administration Commission of the State Council said.

 

 

(Source: Economic Daily)