1.Private sector continues to recover and improve

 

In 2023, China has introduced a series of policies to drive its private sector. By easing barriers, offering financial support, and boosting legal guarantees, more factors contributing to the recovery of the private sector continue to accumulate, and private enterprises have made notable achievements in technological innovation, import and export and other areas.

 

2.A rational perspective toward real estate market changes

 

China's real estate market has seen some new changes in 2023, namely, the overall sales remained stable, with the downward trend of new residential house sales and the increase of second hand housing sales. The changes show a large demand for housing, and some factors constraining the market of new housing. It is important to analyze and assess the real estate market with dialectical thinking, taking consideration the factors of its boom as well as its slump.

 

1.By 2027, China's traditional manufacturing will advance to a high level of high-end, intelligent, green, and integrated development. The proportion of the traditional manufacturing in the overall manufacturing sector will remain stable, and play a more important role in the global industrial division and competition, as opinions released by the Ministry of Industry and Information Technology and other seven departments said.

 

2.Tariff measures will be implemented in pilot free trade zones and ports when conditions are met, according to the notice from the Ministry of Finance and other four departments.

 

3.Guidelines to promote the integrated development of passenger, freight and postal service in rural areas were issued by the Ministry of Transport, the Ministry of Industry and Information Technology and other seven departments. According to the guidelines, efforts will be made to ensure that integral development of passenger, freight and postal service will be delivered to all county-level regions where conditions are available by 2027.

 

 

1. China's international trade in goods and services totaled RMB 4.16 trillion (or 582.1 billion U.S. dollars) in November 2023, the State Administration of Foreign Exchange said.

 

2.From January to November, China's internet and related service enterprises above designated size achieved internet business revenue of RMB 1.57 trillion, a year-on-year increase of 6.1 percent，according to the Ministry of Industry and Information Technology.

 

3. The first batch of units in the Ulanqab Wind Power Base Phase I Demonstration Project, the world's largest onshore wind power project, was put into production and connected to the grid with an electricity generating capacity of 3.6 billion kilowatt-hours (kWh) a year.

 

4.In the first 11 months of 2023, the R&D investment of central enterprises reached over RMB 900 billion, an increase of nearly RMB 70 billion year-on-year, according to the State-owned Assets Supervision and Administration Commission of the State Council.

 

5. As of December 31, 2023, a total of 2.959 million passenger trips to and from Tibet were delivered by the Qinghai-Tibet Railway, 366,000 trips more than those in 2018, setting a new historical high since the Qinghai-Tibet Railway started operation in 2006, according to the China Railway Qinghai-Tibet Group Co., Ltd.

 

6. As of the end of 2023, the number of listed companies on the Beijing Stock Exchanger reached 239, with the total market capitalization of RMB 449.6 billion, data from the Beijing Stock Exchange showed.

 

7.In November 2023, China's operating freight volume reached 4.88 billion tons, a year-on-year increase of 13.5 percent, achieving double-digit growth, according to the Ministry of Transport.

 

8. China's logistics industry prosperity index in December 2023 was 53.5 percent, a month on month increase of 0.2 percentage points, according to the China Federation of Logistics and Purchasing.

 

9. China's total service import and export volume exceeded RMB 5.89 trillion (about 829.61 billion U.S. dollars), and grew 9 percent year on year in the first 11 months of 2023, data from the Ministry of Commerce showed. Of the total, service imports grew 23.5 percent year on year to top RMB 3.48 trillion, while service exports fell 6.8 percent year on year to RMB 2.41 trillion.

 

10. China's home appliance industry reported output growth in the first eleven months of the year, data from the Ministry of Industry and Information Technology showed. Among them, China's output of refrigerators for home use rose 14.5 percent year on year to over 88.15 million units; the output of room air conditioners climbed 12.6 percent year on year to 223.34 million units, while production of washing machines totaled about 95.36 million units, up 20.0 percent from a year earlier. 

 

(Source: Economic Daily)