Opinion

1. Synergistic efforts to stabilize employment and economy

Recently, a package of measures that support employment, stabilize foreign trade, stimulate consumption, actively expand effective investment, and create a favorable environment for stable development formed alignment with existing policies issued in September last year, and the plans adopted at this year's Central Economic Work Conference and the sessions of the NPC and the CPPCC National committee. It will further amplify the policy effect, and effectively promote the sustained recovery and growth of China's economy.

2. The need for improved housing to be released further

During the just-concluded May Day holiday, the real estate market in some cities continued to be active as it was in March and April. Many homebuyers take advantage of their free time during the short holiday to check properties for sale, and many sales offices are flooded with visitors. This indicated that over a period of time, with the continuous implementation of a series of regulatory policies, the real estate market has shown positive changes. The next step is to consolidate the stable development of the real estate market.

Policy

1. The Ministry of Agriculture and Rural Affairs recently issued the implementation plan for the grain saving action in animal husbandry, proposing to strive to reduce the average feed consumption per kilogram of animal products in standardized scale breeding methods by more than 0.2 kilograms (a decrease of more than 7 percent) by 2030 compared to 2023.

2. The Ministry of Agriculture and Rural Affairs and six other departments jointly issued the implementation opinions on accelerating the overall efficiency of agricultural science and technology innovation system, proposing to build a tiered agricultural science and technology innovation system featuring division of labor and moderate competition, and accelerate the realization of high-level agricultural sci-tech self-reliance and self-improvement.

3. China's National Financial Regulatory Administration on May 7 called for stable credit growth to be maintained for micro and small businesses, and for the continuous improvement of the quality of credit services for such businesses. In a notice, the administration said that banking and financial institutions should maintain a sufficient credit supply for micro and small firms. The notice also stated that these institutions should strengthen loan pricing management, and scientifically and reasonably determine the interest rate levels for inclusive finance loans for micro and small businesses.

Data

1. The revenue of China's software sector reached about RMB 3.15 trillion in the first quarter of this year, marking a year-on-year growth of 10.6 percent, while profit of the sector came in at RMB 372.6 billion, up 11.6 percent year on year, data from the Ministry of Industry and Information Technology showed.

2. Data from the National Association of Financial Market Institutional Investors showed that in the first quarter of this year, China's private enterprises issued 85 debt financing instruments totaling RMB 76.25 billion, accounting for over 90 percent of corporate credit bond issuance.

3. To improve supply-demand matching, more than 2400 foreign trade companies and more than 6500 purchasers around China recently participated in the events focusing on high quality export products, signing procurement intent agreements worth RMB 16.76 billion.

4. The 8th Digital China Summit concluded on May 4 in Fuzhou, Fujian province, with total project investment amounting to RMB 228 billion, a 12 percent increase compared with the previous summit. Covering areas such as AI, robotics, computing infrastructure and internet medical services, a total of 455 key digital economy projects were signed at the summit - an 8 percent increase from the previous event. The summit also attracted over 360,000 visits and hit a new high.

5. This year's May Day holiday showcased China's vibrant consumption market, with sales at key retail and catering enterprises rising 6.3 percent year on year, according to the Ministry of Commerce.

6. The 137th China Import and Export Fair, also known as the Canton Fair, concluded on May 4 in Guangdong Province, with organizers announcing the participation of over 288,000 overseas buyers from 219 countries and regions, marking a 17.3 percent year-on-year increase and a new high.

7. Over the five-day May Day holiday running from May 1 to 5, nearly 1.47 billion cross-regional trips were made nationwide, averaging 293 million daily, a year-on-year rise of 7.9 percent, the Ministry of Transport said.

8. China's central bank announced on May 7 that it will reduce the reserve requirement ratio by 0.5 percentage points from May 15, and the seven-day reverse repo rate will be cut from 1.5 percent to 1.4 percent from May 8.

9. China's foreign exchange reserves totaled USD 3.2817 trillion at the end of April 2025, up by USD 41 billion, or 1.27 percent, compared with the end of March, the State Administration of Foreign Exchange said on May 7.

10. Enterprises above designated size in the light industry saw a 7.3 percent year-on-year increase in added value and RMB 5.4 trillion in operating revenue, up 4.8 percent year on year in the first quarter this year, according to the China National Light Industry Council.

(Source: Economic Daily)