1. Great potential in water-saving industry

 

Water conservation has long been a crucial component of China's water management, given the  relatively limited water resources in this country. A number of high-tech water-saving innovations that were showcased at the second water-saving industry innovation and development conference recently attracted a lot of attention, demonstrating the industry's enormous potential.

 

2. Deepening opening up in service industry

 

The service sector is a key avenue for the next wave of global technological revolution and industrial transformation and the top priority in building new development dynamics and promoting a new round of high-level opening up. Both the service industry's scale must continue to grow and market competition must drive improvements in service quality in order to achieve high-quality development.

 

 

1. China's Foreign Ministry announced on Nov. 24 that from Dec. 1, 2023 until Nov. 30, 2024 ordinary passport holders from France, Germany, Italy, the Netherlands, Spain and Malaysia can do business or travel in China without the need for a visa for up to 15 days. The trial visa-free measure has been introduced to help promote China's high-quality development and opening up.

 

2. China's central bank on Nov. 27 said that it will continue to enhance financial support for private enterprises and work to lower their comprehensive financing costs. It also pledged to make systematic arrangements in terms of financial support for the private sector, among other measures, to ensure that financial support for the private economy aligns with the contribution of the private economy to the country's economic and social development.

 

3. The State Council recently reviewed and approved the Action Plan for Continuous Improvement of Air Quality, which is the third national level action plan for air pollution control, following the 2013 Action Plan for Air Pollution Prevention and Control and the 2018 Three Year Action Plan for Winning the Blue Sky Defense War.

 

 

1. In October, the export and import of China’s international trade in goods and services totaled RMB 4.091 trillion. Of this, the export of goods recorded RMB 1.962 trillion and the import recorded RMB 1.635 trillion, resulting in a surplus of RMB 326.6 billion, according to the State Administration of Foreign Exchange.

 

2. Data from the Ministry of Transport showed that China's passenger travel continued to resume growth in October. Railroad passenger traffic volume is increased by 194.1 percent year on year, waterway passenger traffic volume increased by 117.3 percent year on year; civil aviation passenger traffic volume increased by 252 percent year on year, and highway passenger traffic volume increased by 44 percent year on year.

 

3. As of November 23, central SOEs have set up more than 200 subsidiaries and branches in Xiongan New Area. Since this year, 34 second and third level subsidiaries of central SOEs have settled in Xiongan New Area, improving quality and quantity of business environment, according to Management Committee of Xiongan New Area.

 

4. The operating revenue of China’s software industry reached RMB 9.819 trillion from January to October, up 13.7 percent year on year, with profit of around RMB 1.143 trillion, up 13.8 percent year on year, according to the Ministry of Industry and Information Technology. 

 

5. Data from the Ministry of Transport showed that in October China’s port throughput totaled 1.49 billion tons, up 8.1 percent year on year. Domestic and foreign throughput increased by 7.7 percent and 9 percent year on year respectively. Container throughput amounted to 26.32 million TEUs, up 2.9 percent year on year.

 

6. The RMB exchange rate rebounded recently. As data from China Foreign Exchange Trade System showed, the central parity rate of the RMB strengthened 61 basis points over the previous trading day to 7.115 against the US dollar on November 24, marking the highest since June 10.

 

7. Lijiang-Shangri-la railway in Yunnan Province was opened on November 26, and is expected to reduce the travel time between these two cities to 1 hour and 18 minutes. The railway links tourist destinations such as Lijiang Old Town, Lashihai Lake, Jade Dragon Snow Mountain, Tiger Leaping Gorge, Haba Snow Mountain, Shangri-la, etc. 

 

8. According to the State Taxation Administration, from January to October, China’s newly implemented tax refunds and cuts, and fee cuts and deferrals amounted to RMB 1.66 trillion.

 

9. The seventh Silk Road International Exposition and East-West Cooperation and Investment Trade Fair concluded recently in Xi’an, Shaanxi province. 1857 cooperative projects were signed during the expo, with investment of RMB 1.22 trillion. Of these, 46 were supported by foreign investment, with a total contracted investment of USD 9.054 billion.

 

10. At the first China International Supply Chain Expo, the cross-regional industrial chain mapping of hydrogen energy, biomedicine, industrial internet was jointly released by Beijing, Tianjin, and Hebei, with an intended investment of more than RMB 100 billion.

 

(Source: Economic Daily)