Opinion

1. Accelerating the integration of domestic and foreign trade

Since the beginning of this year, the systems and rules for China's domestic and foreign trade are more consistent, key areas have taken the lead for development, supporting policies have been continuously refined, domestic market environment has been optimized, foreign trade enterprises have made progress in expanding domestic market, and the integrated operation capability has significantly improved. Experts suggest that we should further focus on policy implementation coordination, deepen reforms in key areas, and make ongoing effort to advance the integrated development of domestic and foreign trade.

2. Stimulating enterprise vitality through institutional innovation

The general offices of the Communist Party of China Central Committee and the State Council on May 26 made public a guideline on refining the country's modern corporate system with distinctive Chinese features. The guideline proposed 19 specific measures that focus on reinforcing the Party's leadership, optimizing corporate governance structure and scientific management, and improving incentive mechanisms for innovation. The document seeks to empower enterprise development with institutional innovation, further unleashing the vitality of micro entities and making China's modern enterprises more dynamic, resilient and competitive

Policy

1. The Ministry of Human Resources and Social Security and the Ministry of Finance recently issued a notice to support the recruitment of 34,430 college graduates to work at the grassroots level and in the western region to provide services to educational, agricultural and medical sectors, and help rural revitalization. Local governments can expand recruitment according to their actual situations.

2. China on June 1 began implementing a trial policy that unilaterally grants visa-free entry to citizens of Brazil, Argentina, Chile, Peru and Uruguay. It is the first time that China has extended such access to nations in Latin America and the Caribbean.

3. The administrative measures of the People's Bank of China for reporting cybersecurity incidents was recently released and will come into force on August 1. The measures will further standardize the reporting and management of cybersecurity incidents involving monetary credit, cross-border RMB, inter-bank market, anti-money laundering and other business arenas, guide and urge financial institutions to report cybersecurity incidents in accordance with laws and regulations.

Data

1. China's housing provident fund has covered more people with over RMB 1.3 trillion in loans issued last year, as the 2024 report on the national housing provident fund showed, which was jointly released by the Ministry of Housing and Urban-Rural Development, the Ministry of Finance, and People's Bank of China.

2. China's software sector saw steady development in the first four months of the year, with its operating revenue increasing 10.8 percent year on year to RMB 4.258 trillion, data from the Ministry of Industry and Information Technology showed.

3. Rural transportation in China has made progress both in service quality and maintenance capacity. China's fixed-asset investment in rural transportation reached RMB 97.51 billion, with 20,000 km of rural roads newly built or renovated, and 28,000 km under maintenance, according to the Ministry of Transport.

4. During the Dragon Boat Festival holiday, the sales in Beijing's key commercial sectors (department stores, supermarkets, specialty stores, catering, e-commerce) reached RMB 4.18 billion, up 1.6 percent year on year. Customer flow across 60 major business districts recorded 23.284 million visits, a 2.1 percent year-on-year increase, the Beijing Municipal Commerce Bureau said.

5. China's tourism sector saw steady growth during the 2025 Dragon Boat Festival, with domestic trips increasing by 5.7 percent year on year to 119 million, and tourism revenue reached RMB 42.73 billion, up 5.9 percent compared with the same holiday last year, according to data released by the Ministry of Culture and Tourism.

6. China will launch a pilot in some 30 cities to integrate human resources (HR) services with the manufacturing sector. The initiative aims to drive high-quality sufficient employment while accelerating the development of a modern industrial system, the Ministry of Human Resources and Social Security said.

7. The Ministry of Finance issued RMB 12.5 billion of RMB-denominated treasury bonds to institutional investors in Hong Kong Special Administrative Region via tendering on June 4, its third issuance of the bonds this year. The issuance received active subscriptions from institutional investors, with their total subscription amount reaching 3.96 times of the issuance amount. A total of RMB 68 billion worth of the treasury bonds will be issued in six batches in Hong Kong this year.

8. China released its first list of key areas for the cultivation of traditional advantageous food production regions and local specialty food industries, featuring 39 cultivation targets, including Yunnan small-grain coffee and West Lake Longjing tea, the Ministry of Industry and Information Technology said on June 4.

9. By the end of 2024, China had 53,057 accredited inspection and testing institutions, and 551 million inspection and testing reports were issued.

10. China Soft Connectivity Index scored 62.39 in 2024, with an increase of 0.24 points compared with 2023, reflecting solid soft connectivity foundations and capabilities of Chinese cities at prefecture level and above, according to the State Administration for Market Regulation on June 5.

(Source: Economic Daily)