1. Building a coordinated urban development paradigm

 

Significant adjustments to regional and urban-rural structures are invariably a part of modernization drive. The Government Work Report for this year indicates that there is still much room for China's urbanization development and improvement, with a focus on mobilizing metropolitan circles and urban clusters to encourage coordinated development of large, medium, and small cities.

 

2. Steadily defusing risks for small and medium-sized financial institutions

 

We need to take the initiative to forestall and address financial risks. This year's Government Work Report proposes to steadily advance the risk management of small and medium-sized financial institutions in some localities. The National Financial Regulatory Administration has also exerted great effort to carry out the reform and risk defusing of small and medium-sized financial institutions as the top priority.

 

 

1. The State Council released a guideline recently to strengthen regulation, forestall risks and promote the high-quality development of capital market.

 

2. A nationwide campaign on trade-ins of consumer goods has been launched recently. The campaign aimed to promote scrapping of high-emission passenger cars for energy-efficient vehicles or NEVs, purchasing or trading-in for green and smart home appliances, and upgrading and renovating of old houses.

 

3. China's securities regulator recently released a guideline on strict implementation of delisting regulation. The guideline, released by the China Securities Regulatory Commission, focused on improving overall quality of listed companies, clearing out "zombie shell" companies and "black sheep" stocks, and reducing the value of "shell" resources through stricter delisting regulation, expanding diverse exit channels and strengthening investor protection.

 

 

1. Data from the General Administration of Customs on April 12 showed that in the first quarter, China's total export and import of goods recorded RMB 10.17 trillion, an increase of 5 percent year on year. It is the first time that foreign trade scale exceeded RMB 10 trillion during the same period, and its growth rate hit a six-quarter high.

 

2. The fourth China International Consumer Products Expo was open on April 13 in Haikou, Hainan. Among the eight pavilions, three were exhibiting fashion goods with Chinese design, and more than 1,000 new products have made debuts at the Expo.

 

3. According to the National Intellectual Property Administration, there are 71 national intellectual property protection centers under construction or in operation in 28 provinces (autonomous regions and municipalities) in China, with a provincial coverage rate of over 90 percent.

 

4. April 13 marked the first anniversary of the launch of China-Laos Railway's international passenger service. Over the past year, it facilitated the smooth entry and exit of more than 183,000 passenger trips from 87 countries and regions.

 

5. According to the data from Nanjing Customs, Nanjing's trade with RCEP members in the first quarter of this year totaled RMB 7.925 billion, ranking first in China.

 

6. From January to March, a total of 4,541 China-Europe freight trains were operated, carrying 493,000 containers, a year-on-year increase of 9 and 10 percent, respectively, according to China State Railway Group. As of the end of last month, the China-Europe freight trains have operated over 87,000 trips, reaching 222 cities in 25 countries across Europe.

 

7. As of the end of March 2024, the total number of enterprises using commodity barcode in China has exceeded 580,000, taking a lead worldwide for many consecutive years. China has the largest commodity database in the world, and as of April 7, 2024, the total number of consumer products registered with commodity barcode in China reached 195.9 million.

 

8. China has promoted high-quality development in railway projects. According to the China State Railway Group, the amount of fixed asset investment in railway projects reached RMB 124.8 billion in the first quarter, with a year-on-year increase of 9.9 percent, marking a good start for the year.

 

9. At a meeting on financial support for the high-quality development of private sector in Shanghai on April 15, a mechanism integrating social resources such as government, chamber of commerce, financial institutions, and enterprises is released to provide better financial service to private enterprises, and more than RMB 140 billion was granted to 50 private enterprises.

 

10. In 2023, China-Australia bilateral trade in goods increased by 4.1 percent over the previous year, and China has been Australia's largest trading partner for 15 consecutive years. Australia's investment in China was increased by 11.7 percent over the previous year, and the number of newly-established Australian-funded enterprises in China was increased by 40.2 percent over the previous year.

 

(Source: Economic Daily)