1. USD 3 trillion foreign exchange reserves 

 

Stable foreign exchange reserves guarantee the sound operation of China's macro economy. Functioning as stabilizer and ballast of China's economy and finance, foreign exchange reserves safeguard and promote the capability to withstand external impacts, making a positive contribution in the battle to defuse huge risks. 

 

2. Industry plays a significant role as ballast

 

Data from the National Bureau of Statistics showed that in the third quarter China's industrial economy made sound recovery. The industrial added value of industrial enterprises above designated size rose 4.8% year on year, up 4.1 percentage points compared with the second quarter, showing a momentum of quick recovery. Industrial economy is the main driver of the fast development in the third quarter, playing the role of ballast. It shows the resilience and potential of the real economy. 

 

 

1. Measures to expand the increment, stabilize the stock and improve the quality of the foreign investment in manufacturing industry as the key area were issued by National Development and Reform Commission and other five government departments recently. These measures will help to attract more foreign capital in manufacturing industry, solve the prominent problems faced by foreign-invested enterprises, improve the foreign investment and service, so as to promote the use of foreign investment in high quality development.

 

2. Measures to improve intellectual property rights in the innovative development of specialized and sophisticated small and medium-sized enterprises that produce new and unique products were jointly issued by National Bureau of Intellectual Property Rights and Ministry of Industry and Information Technology, so as to enhance the financial service of intellectual property rights. In view of the characteristics of specialized and sophisticated small and medium-sized enterprises that produce new and unique products, the measures support developing products of intellectual property rights infringement insurance, enforcement insurance, overseas infringement liability insurance, pledging financing guarantee insurance, so as to effectively reduce the risk of innovation for enterprises. 

 

3. The People's Bank of China and the State Administration of Foreign Exchange decided to raise the macro-prudential adjustment parameter for cross-border financing of enterprises and financial institutions from 1 to 1.25, according to the People's Bank of China on October 25.

 

 

1. According to preliminary calculations by the National Bureau of Statistics, China's gross domestic product (GDP) in the first three quarters of this year was around RMB 87.027 trillion, up 3.0% year-on-year at constant prices.

 

2. According to the General Administration of Customs, China's total imports and exports in the first three quarters of this year were RMB 31.11 trillion, an increase of 9.9% year on year.

 

3. From January to September this year, China's actual use of foreign investment amounted to over RMB1 billion, up 15.6% year-on-year on a comparable basis, equivalent to USD 155.3 billion, up 18.9% year on year, according to the Ministry of Commerce.

 

4. According to China Association of Automobile Manufacturers (CAAM), from January to September this year, the added value of China's auto manufacturing industry grew 6.9% year on year, 2.4 percentage points higher than that from January to August, and 2.117 million units were exported, more than last year's annual export volume.

 

5. Up to now, the People's Bank of China has selected some areas in 15 provinces (cities) to carry out pilot projects on e-CNY. As of August 31 this year, the total number of transactions in the pilot areas was 360 million and the amount was RMB 100.04 billion, and the number of shops supporting e-CNY exceeded 5.6 million.

 

6. Data released by the three major operators show that the number of 5G package subscribers in China has exceeded 1 billion. Among them, China Mobile 5G package users reached 557 million, China Telecom reached 251 million and China Unicom reached 200 million.

 

7. In the first three quarters of this year, central SOEs achieved a total operating income of RMB 29.0 trillion and a total profit of RMB 2.1 trillion, an increase of 10.9% and 5.7% year on year respectively, according to the State-owned Assets Supervision and Administration Commission of the State Council.

 

8. According to the Ministry of Commerce, in the first three quarters of this year, Chinese enterprises undertaking service outsourcing contracts amounted to RMB 1.379 trillion, the implementation of RMB 947.1 billion, an increase of 12.9% and 12.6% respectively.

 

9. According to the Ministry of Industry and Information Technology, in the first three quarters of this year, China's software business revenue was RMB 7.476 trillion, an increase of 9.8% year on year.