Opinion

1. Seizing opportunities to expand service consumption

As cultural tourism, sports, digital consumption, and the greying economy are flourishing in China, service consumption's share of total spending keeps rising annually. New consumption categories, scenarios, and business models continue to emerge, making service consumption a vital engine for boosting domestic demand and driving high-quality economic growth.

2. Low-altitude economy accelerates integration into daily life

The low-altitude economy is embracing unprecedented opportunities as a new engine for technological innovation and economic expansion. With continuous policy refinement, infrastructure development, and technological breakthroughs, its industrial framework is rapidly taking shape, and market vitality is growing significantly.

Policy

1. The National Data Administration announced that the first batch of public data authorized operation products were delivered in Fujian, China. Core enterprise data from local market regulation authorities and land-use records from natural resources departments were developed into data products, delivered under a government-guided pricing mechanism. Financial institutions served as the inaugural purchasers.

2. China will further enhance financing support for micro, small and medium-sized companies through quality-based credit approvals. According to a notice released by the State Administration for Market Regulation on June 22, by incorporating quality credibility of enterprises into lending decisions, the move aims to streamline credit approval processes, and better support high-quality micro, small and medium-sized enterprises.

3. Approved by the State Council, rules to regulate internet platform companies' submission of tax-related information went into effect on June 23. The rules aim to regulate the internet platform companies' submission of tax-related information of business operators and employees on their respective platforms, enhance the efficiency of tax services and management, protect the legal rights and interests of taxpayers, create a fair and unified tax environment, and promote the standardized and healthy development of platform economy.

Data

1. China's national railways transported about 1.64 billion tonnes of goods in the first five months of 2025, up 3.1 percent year on year; daily loading volume averaged 181,000 carriages, rising 4.2 percent, said China State Railway Group Co., Ltd.

2. From January to May this year, Chongqing transported 122,700 TEUs (twenty-foot equivalent units) of goods via the New International Land-Sea Trade Corridor, a year-on-year increase of 24 percent, with a total cargo value exceeding RMB 22.2 billion, up 15 percent year on year.

3. China's total power generation capacity had climbed to 3.61 billion kilowatts by the end of May, marking a year-on-year increase of 18.8 percent, the National Energy Administration said on June 23.

4. Data from the 2025 National Energy Conservation Promotion Week revealed that during the first four years of the 14th Five-Year Plan period, China's energy consumption intensity cumulatively decreased by 11.6 percent, showing intensified efforts in energy conservation and carbon reduction.

5. According to statistics from the Guangdong Customs, in the first five months of this year, the nine cities in the Guangdong-Hong Kong-Macao Greater Bay Area recorded a total import and export value of RMB 3.61 trillion, an increase of 4.4 percent - 1.9 percentage points higher than the national average - accounting for 20.1 percent of the country's total imports and exports.

6. The Ministry of Industry and Information Technology reported that in the first five months of this year, telecommunications business revenue reached RMB 748.8 billion, a year-on-year increase of 1.4 percent. Telecommunications business volume, calculated at constant prices from the previous year, grew by 8.6 percent year on year.

7. Data released by the National Energy Administration showed that China's total installed capacity of photovoltaic power had exceeded 1 billion kilowatts, marking a new milestone in the development of renewable energy.

8. The 2024 China Seafarers Development Report, released by the Maritime Safety Administration of the Ministry of Transport on June 25, showed that by the end of 2024, the total number of registered seafarers in China reached 2.0358 million, including 970,100 ocean-going sailors and 1.0657 million inland waterway sailors.

9. China's non-financial outbound direct investment (ODI) rose 2.3 percent year on year in the first five months this year. Total non-financial ODI of the country amounted to USD 61.6 billion during the period, according to data released by the Ministry of Commerce. Non-financial ODI in Belt and Road partner countries totaled USD 15.52 billion, up 20.8 percent year on year.

10. The China Export & Credit Insurance Corporation reported that from January to May this year, the insured amount under its short-term export credit insurance approached USD 400 billion, a year-on-year increase of 14.6 percent.

(Source: Economic Daily)