Opinion

1. Unblocking the bottleneck in the application of industrial Internet

The press conference of the Information Office of the State Council held recently revealed that the Ministry of Industry and Information Technology will seize the opportunity of the integration, application and innovation of the new generation of information technology and introduce guiding actions for the high-quality development in industrial Internet. As a product of in-depth integration of the new generation of information technology and real economy, the high-quality development of the industrial Internet will help further promote the integration of data and real economy, advance the high-end, intelligent and green development of the industry, and act as a strong support and key force for China's fostering of new quality productive forces.

2. Broad prospect for the market of low-altitude economy

At the just concluded 15th China International Aviation and Aerospace Exhibition, also known as Airshow China, a large number of high-tech and practical unmanned aerial vehicles and low-altitude aircraft products were showcased, covering logistics and distribution, air traffic, emergency rescue, tourism and other fields, allowing people to truly feel the wave of changes brought by low-altitude economy.

Policy

1. China is aiming to establish more than 100 trusted data matrixes by 2028, forming a set of data matrix solutions and best practices, the National Data Administration (NDA) said on November 23.

2. Zhejiang Province, an economic powerhouse located on the southeastern coast of China, is set to build a "bulk commodity resource allocation hub" within its free trade zone, according to a plan released by the Ministry of Commerce and the provincial government.

Data

1. China's small and micro-sized businesses enjoyed RMB 946.1 billion of tax breaks from January to September, up 6.7 percent year-on-year, official data from the State Taxation Administration showed on November 22. The ratio of the total taxes to their business revenue stood at 1.65 percent, down 9.6 percent year-on-year. China has synchronized taxation system reform with tax and fee cuts to ease the financial burden on businesses, and boost their confidence for development.

2. The 2024 World Internet Conference (WIC) Wuzhen Summit in Zhejiang Province closed on November 22 with more than 1,800 guests from more than 130 countries and regions participating in online and offline events, sharing ideas on the digital future.

3. In the first 10 months of this year, China's foreign trade reached RMB 36.02 trillion, reflecting a 5.2 percent year-on-year increase and a stable share of the international market, data from the Ministry of Commerce showed.

4. The latest data released by China Federation of Logistics and Purchasing showed that in the first three quarters of this year, the total amount of cold chain logistics hit RMB 6.4 trillion, up 4.2 percent year-on-year. The demand for cold chain logistics has been growing steadily, and the sales of new energy refrigerated trucks have increased by more than 200 percent year-on-year.

5. China's first large-scale production line for aviation radial tires was recently put into operation in Guangxi, which can produce 100,000 high-performance aviation radial tires per year.

6. By 2023, China's forest coverage rate had exceeded 25 percent, with a forest stock volume of over 20 billion cubic meters, and the annual carbon-sink capacity of forests and grassland exceeding 1.2 billion tonnes of carbon dioxide equivalents. The area of China’s man-made forests has ranked first in the world, with the most increased greenery coverage, according to the National Forestry and Grassland Administration.

7. China, one of the countries with the severest desertification, has made significant progress in curbing the expansion of deserts after decades of relentless efforts, taking the lead globally to achieve zero-growth in land degradation and become the largest contributor to global afforestation, according to China's National Forestry and Grassland Administration. 53 percent of desert land in China has been effectively managed, resulting in a net reduction of 4.3 million hectares.

8. China's state-owned enterprises maintained steady operations in the first 10 months of the year, with increased total revenue, according to data released by the Ministry of Finance on November 26. The data showed that during the period, SOEs generated more than RMB 67 trillion in operating revenue, up 0.9 percent from a year earlier.

9. According to the Ministry of Industry and Information Technology on November 28, as of the end of October, the total number of Internet users in China had reached 668 million, and the number of 5G mobile phone users had reached 995 million. In the first 10 months of this year, the revenue from telecom sector totaled RMB 1453.5 billion, up 2.6 percent year-on-year.

10. The new Zhongshan passenger port in Zhongshan City, Guangdong Province, was open on November 28. After its opening, the sailing time to China Hong Kong City terminal in Tsim Sha Tsui will be shortened from 85 minutes to 65 minutes, the sailing time to Hong Kong International Airport will be shortened from 70 minutes to 50 minutes, and the sailing time to Shekou, Shenzhen City will be about 50 minutes, thus advancing the construction of a "one-hour living circle" in the Greater Bay Area.

(Source: Economic Daily)