1. Unlocking potential of data elements will help drive economic growth

 

As the value of data becomes increasingly prominent, accelerating the entry of data elements into industrial production and giving play to their multiplier effects in energizing various industries will greatly promote the high-quality development of the digital economy. 

 

2. Understanding the resilience of China's economy

 

As long as we act on the principle of seeking progress while maintaining stability, promoting stability through progress, and establishing the new before abolishing the old, strengthening the innovation and coordination of policy tools, and forming a synergy to jointly promote high-quality development, we will surely be able to further enhance the resilience of China's economy, stimulate its vitality, and inject a strong momentum for the Chinese modernization drive. 

 

 

1. The National Development and Reform Commission issued the measures recently for the supervision and management of investment projects of the budget of the central government to regulate the implementation of projects and the use of funds, and guarantee and improve the comprehensive profits of investment of the central budget.

 

2. Chinese authorities have announced a plan to establish a financing coordination mechanism for the real estate sector. The mechanism will aim to satisfy the legitimate financing needs of real estate projects precisely, while also supporting the stable and sound growth of the country's real estate market, which was released by the Ministry of Housing and Urban-Rural Development and the National Financial Regulatory Administration.

 

3. China has recently released a guideline to strengthen the greying economy as part of efforts to address the challenges of an aging population. The guideline, issued by the General Office of the State Council, specifies measures to expand, standardize, cultivate industrial clusters, and improve the branding of the greying economy. Prioritizing the well-being of its senior citizens, the guideline says the greying economy incorporates economic activities that cater to senior citizens with tailored products and services, so that the elderly can share the fruits of development and live a happy life in their old age.

 

 

1. The value of China's trade in goods totaled RMB 41.76 trillion in 2023, up 0.2 percent year on year, exceeding expectation. China is expected to maintain the world's largest country in terms of trade in goods for seven consecutive years.

 

2. Crude oil and natural gas production of China's largest crude oil producer, Bohai oilfield hit a record high in 2023, said CNOOC. Cumulative oil and gas equivalent production exceeded 36.8 million metric tons, with more than 34 million metric tons of crude oil, and more than 3.5 billion cubic meters of natural gas.

 

 

5. According to the National Financial Regulatory Administration, as of the end of 2023, the outstanding balance of inclusive loans to micro and small enterprises reached RMB 29.06 trillion, an increase of 23.27 percent compared with the beginning of the year. 

 

6. Data from China Post showed that 75 percent of the villages have been covered by the cooperative service of postal and express delivery. By the end of 2023, the time span for postal mails and parcels delivered between provincial capitals was 2.23 days, showing significant improvement in timeliness.

 

7. Data from the Ministry of Industry and Information Technology showed that China's shipbuilding industry ranked first in the world regarding the three major indicators for 14 consecutive years. From January to December 2023, China's shipbuilding output increased 11.8 percent year on year to 42.32 million dwt, with new orders of 71.2 million dwt, up 56.4 percent year on year. As of the end of December, the holding orders totaled 139.39 million dwt, up 32 percent year on year.

 

8. The corporate and enterprise bond market of the Beijing Stock Exchange started trading on January 15, marking a key step in its high-quality development. Three enterprise bonds worth RMB 2.48 billion in total have been issued on the first day of trading, and the issuers are Beijing State-owned Assets Management Corporation, Metro Land Corporation, and Guangzhou Zhidu.

 

9. According to the China National Intellectual Property Administration, by the end of 2023, China's valid domestic invention patents (excluding Hong Kong, Macao and Taiwan) amounted to 4.015 million pieces, an increase of 22.4 percent year on year, and exceeded 4 million pieces for the first time.

 

10. According to the data released by the National Bureau of Statistics on January 17, in preliminary accounting, China's GDP in 2023 was RMB 126.06 trillion, an increase of 5.2 percent over the previous year at constant prices.

 

(Source: Economic Daily)