Opinion

1. Cultivating skilled talents to boost economic development

Skilled talents are the backbone of production and services, while also serving as a vital resource driving high-quality economic and social development. Guidelines for enterprises to cultivate skilled workers were released by eight government departments, including the Ministry of Human Resources and Social Security. The guidelines provide policy support for enterprises to invest in talent development, and efforts will be made to cultivate master craftspeople and highly skilled workers and develop a first-rate industrial technical workforce. These measures chart a strategic path for cultivating skilled talents for enterprises in the long run.

2. Channeling inclusive finance to support business

China recently released guidelines to accelerate efforts to promote its financial sector through development in five major areas, namely, technology finance, green finance, inclusive finance, pension finance and digital finance. Inclusive finance will be strengthened by building a multi-tiered, broad-based and sustainable system while optimizing financial products and services for key sectors, including micro, small and medium-sized enterprises, private businesses, rural revitalization and social welfare.

3. Expanding rural consumption as a growth driver

Consumption remains the primary driver of economic growth. Both the Central Economic Work Conference and this year's Report on the Work of the Government have given priority to boosting consumption. Through efforts such as implementing rural revitalization initiatives, improving rural infrastructure, and optimizing market environment, China has effectively boosted rural economic growth and consumption upgrades.

Policy

1. China will increase financial support for the sports industry in a bid to promote high-quality development of the sector, according to a guideline jointly issued by the People's Bank of China, General Administration of Sport, National Financial Regulatory Administration, and China Securities Regulatory Commission. The document proposes 16 specific supportive measures, including increasing financial support for the construction of sports infrastructure, and the development of sports venues, ice and snow sports facilities, and outdoor sports destinations.

2. The private sector has become a prominent part of the country's economy, driving innovation, employment and overall economic growth. The State Administration for Market Regulation released 37 measures to spur the private sector, giving full play to its role in market regulation. In February, China hosted a high-level symposium on private enterprises, signaling strong support for private businesses.

Data

1. China will raise additional tariffs on products imported from the United States to 125 percent, effective from April 12, the Customs Tariff Commission of the State Council announced on April 11. The announcement follows the U.S. move to raise the "reciprocal tariffs" on Chinese imports to 125 percent.

2. The Ministry of Industry and Information Technology released the first batch of Chinese premium consumer goods on April 11, including 93 enterprise brands and 43 regional brands. The enterprise brands cover industries such as light industry, textile, food, and medicine. Regional brands are distributed in 25 provinces across the country.

3. The latest report on the development of China's environmental protection industry (2024) shows that in recent years, the annual revenue of China's environmental protection industry has remained above RMB 2 trillion. The harmless treatment rate of air, sewage, and household waste continues to improve.

4. The QV331 flight operated by the Lao Airlines C909 aircraft took off from Vientiane Wattay International Airport in Laos and successfully arrived at Pakse International Airport on April 12. China's domestically developed regional jetliner, C909, successfully completed its first commercial flight.

5. The financial data report for March 2025 has been released. The M2, a broad measure of money supply that covers cash in circulation and all deposits, increased by 7 percent year on year to RMB 326.06 trillion at the end of March. The M1, which covers cash in circulation, demand deposits and clients' reserves of non-banking payment institutions, stood at RMB 113.49 trillion at the end of March, up 1.6 percent year-on-year.

6. China's overseas flower trade continued to grow in the first two months of this year, with exports reaching USD 103 million from January to February, a year-on-year increase of 11.5 percent, according to the latest data from the China Flower Association.

7. The Association of Southeast Asian Nations (ASEAN) continued to maintain its position as China's largest trading partner, with imports and exports reaching RMB 1.71 trillion in the first quarter, a year-on-year increase of 7.1 percent, accounting for 16.6 percent of China's overall foreign trade, according to the General Administration of Customs.

8. According to the China Natural Resources Recycling Association, the scale of China's recycling industry continued to expand in 2024, with a total recycling volume of 401 million tons, a year-on-year increase of 6.5 percent, and a recycling value of RMB 1.33 trillion.

9. China's gross domestic product (GDP) grew 5.4 percent year-on-year in the first quarter of 2025, data from the National Bureau of Statistics (NBS) showed on April 16. The country's GDP reached RMB 31.8758 trillion (about USD 4.42 trillion) during this period.

10. China has been Cambodia's largest trading partner for many consecutive years. In the first quarter of 2025, China's imports and exports to Cambodia amounted to RMB 33.33 billion, maintaining growth for six consecutive quarters with a year-on-year increase of 13.1 percent. The scale of imports and exports reached a new historical high for the same period, according to the General Administration of Customs

(Source: Economic Daily)