Opinion

1. Financial reports highlight China’s economic resilience

Most companies listed on China's A-share market delivered robust performance last year, underscoring the vitality and resilience of China’s economy. As of April 25, 3,500 firms listed on the Shanghai and Shenzhen stock exchanges had released their financial reports for 2024. The total revenue of firms stood at RMB 56.67 trillion, a slight year-on-year decrease of 0.05 percent, and net profit attributable to shareholders reached RMB 4.84 trillion, up 3.32 percent year-on-year, according to financial information provider Wind Info.

2. Strengthening China’s cross-border logistics system

As a critical part in China’s dual circulation, the cross-border logistics system holds strategic significance for enhancing the resilience of industrial and supply chains, further integrating domestic and foreign trade, and supporting high-level opening up. By reducing logistics costs, optimizing resource allocation, and facilitating global connectivity, it accelerates global reach of high-quality Chinese goods and services while better integrating global resources, thereby bolstering the new development paradigm.

Policy

1. China’s State Council on April 25 approved the establishment of cross-border e-commerce comprehensive pilot zones across 15 cities (regions) including Hainan and Qinhuangdao.

2. China aims to establish a modern energy system for the transport sector by 2035, featuring clean and low-carbon energy consumption, technological innovation, and green, smart and efficient practices, according to the Ministry of Transport. Under the plan, electric vehicles will become the mainstream of new vehicle sales, and large-scale application of new energy heavy-duty trucks will be promoted.

3. China unveiled a slew of measures to further optimize its departure tax refund policy, allowing overseas travelers to apply for a refund if they spend at least RMB 200 at the same store on the same day and meet other relevant requirements. The minimum purchase threshold for tax refunds has been lowered from RMB 500 to RMB 200, and the upper limit for cash refund has been raised from RMB 10,000 to RMB 20,000. China is expanding the coverage of instant tax refunds to improve the experience for international travelers, according to a notice released by six departments including the Ministry of Commerce.

Data

1. According to the National Forestry and Grassland Administration, since the 14th Five-Year Plan, the total investment in grassland protection and restoration supported by the central government has reached RMB 110 billion, with an average annual restoration of over 46 million mu of grassland.

2. According to data from the Ministry of Transport, China's transportation industry has achieved a good start since the beginning of this year. In the first quarter, the cross regional personnel flow in the whole society was 17.39 billion, a year-on-year increase of 4 percent.

3. Currently, the spring tourism market in various regions is booming, and consumer vitality continues to be stimulated. Urban travelers made 1.318 billion trips, rising 22.4 percent from a year ago, and rural travelers made 476 million trips, spiking up 39.2 percent from the same period last year, according to data released by the Ministry of Culture and Tourism.

4. The latest statistics from the China Gold Association showed that in the first quarter, domestic gold ETF holdings increased by 23.47 tons, a year-on-year increase of 327.73 percent compared to the increase of 5.49 tons in the first quarter of 2024.

5. The first hydrogen energy development report released by the National Energy Administration showed that by 2024, the annual production and consumption of hydrogen energy in China exceeded 36.5 million tons, ranking first in the world.

6. Major enterprises in China's cultural sector and related industries saw steady growth in both revenue and profits during the first three months of the year, according to the National Bureau of Statistics. The 80,000 surveyed enterprises raked in nearly RMB 3.4 trillion (about USD 470 billion) in combined revenue in the first quarter, up 6.2 percent year-on-year. The growth rate was 0.2 percentage points higher than the full-year figure for 2024.

7. This year marks the 20th anniversary of the establishment of the National Wetland Park. China has established 903 national wetland parks over the past 20 years. These parks have helped protect 2.4 million hectares of wetlands, providing ample habitat for key national wildlife species, information from the wetland protection seminar showed.

8. Trade between China and Arab countries exceeded USD 400 billion in 2024, and China has remained the largest trading partner of Arab countries for several consecutive years, according to information from the 11th China-Arab Business Conference and the 9th Investment Seminar of the China-Arab States Cooperation Forum in Haikou, south China's Hainan Province.

9. China State Railway Group Co., Ltd. disclosed its financial statements for the fiscal year 2024 and the first quarter of 2025. Statistics showed that in 2024, China State Railway Group achieved a revenue of RMB 1.283 trillion, a year-on-year increase of 3.0 percent, and a net profit of RMB 3.9 billion.

10. The latest data from the National Bureau of Statistics showed that in the first quarter of this year, the actual completed investment in China's clothing industry increased by nearly 23 percent year-on-year, exceeding the growth rate of several other popular industries.

(Source: Economic Daily)