1. China sustaining its economic recovery momentum

 

According to data released by the National Bureau of Statistics on August 15th, although the growth rate of some economic indicators in July slowed down compared to the previous month,  demand of  production factors remained upward trend, employment and consumer prices remained stable, industrial upgrading steadily advanced, people's livelihood insurance was effective, the national economy continued to recover, the quality of development was steadily improved, and the overall trend continues to be positive.

 

2. Continued financial support for the real economy

 

Since the beginning of this year, China's macroeconomic policies have continuously improved in quality and efficiency, and the overall economic operation has rebounded and improved. The   prudent monetary policy is precise and effective, with increased efforts in countercyclical regulation. China continues to optimize the credit structure and provides more financial support for the real economy with the financing costs of the real economy steadily decreasing. 

 

 

1. The guiding opinions on promoting the high quality development of rural commerce networks has been issued recently, and deployment has been made around the development goals, key tasks, and policy support of accelerating the construction of modern rural logistics distribution system in China in the future.

 

2. The State Council, China's Cabinet has issued guidelines to attract more global capital and further optimize the country's business environment for multinational corporations. This could better align the core businesses of foreign enterprises with China's shifting market dynamics. China will foster a market-oriented, law-based business environment in keeping with international standards, give full play to the advantages of the country's ultra-large market, and attract and utilize foreign investment more vigorously and more effectively.

 

3. The Chinese government on Aug. 14 publicized a three-year action plan aiming to strengthen the nation's county-level commerce system further. The plan includes the creation of 500 "frontrunner" counties by 2025, which will have county-level logistics distribution centers, convenience stores for rural populations, and rural commerce centers such as large and medium-sized supermarkets and farm produce markets. The action plan was rolled out by multiple ministries, including those for commerce, economic planning, finance, natural resources, agriculture and rural affairs, culture and tourism, and postal services.

 

 

1. According to the Ministry of Natural Resources, in the first half of the year, the marine economy continued its trend of recovery. The result of preliminary accounting showed that in the first half year the gross ocean product reached 4.7 trillion yuan, up 6.0 percent year on year, with the growth rate of 0.9 percentage point higher than the first quarter.

 

2. Financial statistics released by the People’s Bank of China in August 11 showed that by the end of July, the deposit balances of local and foreign currency reached 283.36 trillion yuan, up 10 percent year on year. RMB deposit balance totaled 277.5 trillion yuan, up 10.5 percent year on year, with the growth rate of 0.5 percentage point lower than that at the end of the previous month, and 0.9 percentage point lower than the same period of the previous year. 

 

3. The operating performance of Huawei released on August 11 showed that in the first half year its sales revenue totaled 310.9 billion yuan, up 3.1 percent year on year, with the net profit rate of 15.0 percent.

 

4. According to the National Energy Administration, in the first half of this year,  investment in key energy projects totaled more than one trillion yuan, up 23.9 percent year on year. In terms of regions, the investment in the east, central and west regions increased 24.8 percent, 22.1 percent, and 24.2 percent, respectively. 

 

5. According to the Three Gorges Corporation, the number of the world’s largest clean energy corridor operating units reached 100 on August 11, with operation rate reaching a record high during this year, to meet the power needs in production and daily life in the receiving region.

 

6. As of August 11, Beijing Capital International Airport has provided flight service to 220,000 flights this year, with passenger throughput of more than 30 million, of which the passenger throughput from overseas countries and regions exceeded 3.5 million. 

 

7. Data from the China Federation of Logistics and Purchasing on August 13 showed that in the first half of this year, China's total cold chain logistics amounted to 3.1 trillion yuan, up 3.7 percent year on year, while the market size of cold chain logistics amounted to 268.8 billion yuan, up 3.3 percent year on year.

 

8. According to the State Administration for Market Regulation, corporate annual report rate in 2022 reached 91.33 percent. Since the implementation of the Provisional Regulations on Corporate Information Disclosure in 2014, the annual report rate of enterprises has been above 91 percent for the sixth consecutive year.

 

9. Data from the State Post Bureau on August 16 showed that in the first seven months of this year, the volume of postal industry totaled 87.37 billion pieces, an increase of 12.8 percent year on year. Among them, the volume of express delivery totaled 70.3 billion pieces, an increase of 15.5 percent year on year.

 

10. According to China Railway, since mid-August, the national railway has witnessed a peak in return passenger flow during the summer travel season. On August 12, a total of 15.326 million passengers were transported in a single day, marking a historic high in daily passenger volume for the summer season. From July 1 to August 15, the national railway has cumulatively transported 614 million passengers during the summer travel season. 

 

(Source: Economic Daily)