Opinion

Reinforcing the Foundations of Real Economy

The Fourth Plenary Session of the 20th Central Committee of the Communist Party of China proposed a series of strategic tasks, with building a modernized industrial system and reinforcing the foundations of the real economy placed at the forefront. This indicates that the real economy is the cornerstone of the national economy. Only by prioritizing its development can a solid foundation be laid for stable economic operation and high-quality development.

The real economy is the foundation of a nation's strength and the cornerstone of its power. No matter what stage of economic development is reached, the real economy remains a reliable guarantee for China's economic development and for gaining initiative in international market competition.

As the fundamental source of wealth creation, the real economy not only contributes the core incremental economic value but also serves as the largest absorber of employment, providing jobs for over 400 million people and acting as a stabilizer for livelihood security.

The real economy is a stabilizing force in international competition, and the comprehensive industrial system behind it provides confidence for enhancing economic resilience and withstanding external shocks.

The real economy is also the ground for technological innovation transformation. Only by strengthening the foundations of real industry can sustained momentum be provided for cultivating new quality productive forces and advancing Chinese modernization.

Policy

1. China's foreign exchange regulator issued a notice introducing a package of new measures to further facilitate cross-border trade receipts and payments and enhance foreign exchange services, aiming to stabilize the development of foreign trade.

2. The National Financial Regulatory Administration on October 30 issued a notice on promoting the sustained and healthy development of pension wealth management businesses, clarifying that the pilot program for pension wealth management products will be expanded nationwide effective immediately, with a pilot duration of three years.

3. China will extend its visa-exemption arrangements to France and other countries covered by the policy to Dec. 31, 2026. China will grant visa-free entry to Swedish citizens from Nov. 10, 2025 to Dec. 31, 2026, Chinese foreign ministry spokesperson Mao Ning said at a regular news briefing on Nov 3.

Data

1. China’s e-commerce sector maintained healthy development in the first three quarters of this year, with online retail sales growing by 9.8 percent year-on-year, according to the Ministry of Commerce.

2. The import and export value of China’s Beijing-Tianjin-Hebei region achieved RMB 3.51 trillion in the first three quarters of this year, accounting for 10.4 percent of the country’s total foreign trade. Among them, exports hit RMB 1.07 trillion, a record high for the same period in history, with a year-on-year increase of 5.2 percent, maintaining growth momentum for the sixth consecutive month.

3. A total of 100 million inbound and outbound passenger trips were recorded in 2025 via Gongbei Port in Zhuhai, a city in Guangdong Province as of 4:08 PM on October 25, making it the first port in China to reach this milestone, 27 days earlier than last year, official data showed. It has also marked the 13th consecutive year that Gongbei Port has ranked first in passenger traffic in China.

4. China’s Yangtze River Delta region recorded a total import and export value of RMB 12.62 trillion in the first three quarters of the year, a year-on-year increase of 6.6 percent, setting a new high for the same period. Among them, exports grew by 10 percent to RMB 8.04 trillion, while imports grew 1 percent to RMB 4.58 trillion.

5. China’s fixed asset investment in rural roads reached RMB 275.34 billion in the first three quarters of the year, with a total of 75,000 km of rural roads newly built or upgraded, data from the Ministry of Transport showed.

6. China’s employment remained generally stable this year. During the first nine months, its urban regions added 10.57 million new jobs, achieving 88 percent of the annual employment target, the Ministry of Human Resources and Social Security said.

7. Figures released by the National Energy Administration reveal that China’s electricity market transactions in the first nine months of 2025 reached 4.9 trillion kWh, a 7.2 percent year-on-year increase, accounting for 63.4 percent of the country’s total power consumption, up 1.4 percentage points from the same period last year.

8. Data from the Ministry of Transport showed that China’s investment in transport infrastructure reached RMB 2.6 trillion in the first three quarters of this year. During the same period, China recorded 50.6 billion cross-regional trips, up 3.1 percent year-on-year. Freight operators moved 43.25 billion metric tons of goods during this period, an increase of 3.89 percent from a year earlier. Meanwhile, ports across the country handled 13.57 billion tons of cargo, up 4.6 percent year-on-year.

9. The gross income of China’s major cultural and related businesses increased by 7.9 percent year-on-year in the first three quarters of 2025, the National Bureau of Statistics said.

10. China’s gross ocean product totaled RMB 7.9 trillion in the first three quarters of 2025, which was a year-on-year increase of 5.6 percent, demonstrating the marine economy’s steady development momentum, according to data released by the Ministry of Natural Resources on November 3.

(Source: Economic Daily)