Opinion

1. Accelerated expansion of AI application scenarios

As a strategic technology driving the new waves of technological revolution and industrial transformation, artificial intelligence (AI) boasts vast application scenarios and enormous market potential, profoundly reshaping human production and lifestyle. From smart assistants like mobile apps and smart speakers to embodied intelligence such as robotic arms and humanoid robots, and further to AI-native products and services offering personalized solutions, AI is rapidly integrating into our lives.

2. Seamless transition from old to new growth drivers fostering new competitive advantages

Currently, China's economy is navigating a critical phase of challenges, with the transition between old and new growth drivers accelerating. Amid a complex and volatile external environment, vibrant emerging industries—leveraging technological innovation and market demand—are better positioned to enhance the resilience of China's economy against risks and challenges.

Policy

1. Recently, the National Healthcare Security Administration (NHSA) and the National Health Commission (NHC) jointly issued the measures to support the high-quality development of Innovative drugs, proposing 16 specific measures across five areas, including strengthening support for innovative drug R&D and facilitating the inclusion of innovative drugs in the national medical insurance catalog and commercial health insurance innovative drug directories.

2. China will introduce additional measures to protect and manage rivers, improve river ecosystems and promote the development of a water-conserving society. China aims to see significant improvements by 2035 in flood prevention capacity, efficient use of water resources, reliable water supply in urban and rural regions and overall river ecosystem health, according to the guidelines issued by the general offices of the Communist Party of China Central Committee and the State Council on June 26.

3. Chinese lawmakers are reviewing a draft law designed to ensure basic living support for people in need. The draft law on social assistance was submitted on June 24 to the ongoing session of the Standing Committee of the National People's Congress, the national legislature, for its first reading. The draft expands the scope of social assistance and strengthens its role as a safety net for those in need.

Data

1. Chinese enterprises in the cultural sector and related businesses saw their combined revenue hit a record high in 2024, according to the data from the National Bureau of Statistics on June 27. The total revenue rose 7.1 percent year on year in 2024 to RMB 19.14 trillion.

2. The number of China's private sector entities reached 185 million by the end of May, accounting for 96.76 percent of the total business entities in China, the State Administration for Market Regulation said on June 27.

3. According to a report on China’s energy ecosystem released on June 28, China's clean energy investment reached USD 625 billion in 2024, accounting for one third of the global total. China has ranked first globally in installed photovoltaic and wind power capacity for ten consecutive years. Over the past decade, China has contributed more than 45 percent to the global increment in non-fossil energy consumption.

4. The Regional Comprehensive Economic Partnership (RCEP) has deepened trade cooperation among its members since it came into force. From January to May this year, China's goods trade with RCEP members reached RMB 5.5 trillion, a year-on-year increase of 3.9 percent. This growth rate was 1.4 percentage points higher than China's overall foreign trade growth.

5. China's medical device market totaled RMB 1.2 trillion in 2024, according to a report on China’s medical device supply chain development in 2025 released by the China Federation of Logistics & Purchasing on June 28. The total area dedicated to medical device logistics and warehousing reached 23.58 million square meters, and the number of vehicles for medical device logistics and transportation exceeded 40,000.

6. The Ningxia-Hunan ultra-high voltage direct current transmission project completed its 168-hour trial operation on June 29. With a transmission capacity of 4 million kilowatts, it began to provide power support for Hunan province's power grid.

7. An Air China C909, a domestically developed regional aircraft, arrived in Ulaanbaatar, Mongolia on July 1, marking the first international flight of Air China’s C909. The flight also indicates a new phase of the domestically built aircraft's operation of international flights.

8. According to the China Organization Data Service, by the end of May 2025, the number of legal persons and other organizations in China exceeded 200 million. This includes over 66 million legal person institutions and more than 8.6 million non-legal person organizations.

9. Data from the China Association of Fragrance Flavor and Cosmetic Industries showed that the retail scale of China's cosmetics market reached around RMB 1.074 trillion in 2024, exceeding the one-trillion-yuan mark for the second consecutive year. The market share of domestic brands rose to 55.2 percent.

10. China's electric bicycle trade-in program has driven a boom in both production and sales. According to the Ministry of Commerce, by the end of June, a total of about 8.47 million new electric bicycles had been sold to replace old ones across the country, which is 6.1 times that of 2024.

(Source: Economic Daily)