Opinion

1. Proper and efficient use of public data resources

With the efficient circulation and use of public data, China's data resource allocation will be continuously optimized. The amplification, superposition and multiplication effects of data are expected to continue to appear, which will provide strong underpinning for a stronger, better and bigger digital economy and building new competitive advantages.

2. Fully implementing tax support policies

The implementation of sound and effective tax and fee policies is the key to guiding the rational allocation of innovation resources, promoting the transfer of scientific and technological achievements, and promoting the transformation and upgrading of the manufacturing industry. More measures should be taken to increase the support of tax and fee policies for the development of the manufacturing industry.

Policy

1. The National Data Bureau recently studied and drafted the Opinions on Promoting the Development and Utilization of Enterprise Data Resources to solicit public opinions. It is suggested to improve the enterprise data income distribution mechanism.

2. The National Development and Reform Commission reported on October 8 that it will step up efforts to introduce a package of incremental policies to promote sustained economic recovery, focusing on five aspects, including increasing counter-cyclical adjustment of macro policies, expanding domestic effective demand, increasing efforts to help enterprises, promoting real estate market to stabilize, and boosting capital market.

3. The Ministry of Housing and Urban-Rural Development and the National Financial Regulatory Administration recently jointly held a video conference to guarantee the national housing delivery work, and guided all localities to further play the role of urban real estate financing coordination mechanism. It will take strong and effective measures to stabilize real estate market as soon as possible.

Data

1. China has established more than 70 working groups worldwide focusing on outward investment and economic cooperation, giving full play to the roles of bilateral and multilateral economic and trade cooperation mechanisms and investment cooperation working groups, as Ministry of Commerce said.

2. China Development Bank expands the medium-and long-term financial support for the new type of urbanization this year. From January to August, the bank has issued medium-and long-term loans for infrastructure of new type of urbanization worth RMB 278.3 billion.

3. The People’s Bank of China has signed bilateral currency swap agreements with central banks or currency administrations from 42 countries and regions as of the end of August, and among them 29 are effective agreements, with swap amount of RMB 4.1 trillion, the People’s Bank of China said.

4. Data from China National Light Industry Council showed that during the first eight months of this year, the added value of the major firms in the light industry increased by 4.9 percent year-on-year. Of the 91 categories of major light industrial products included in the statistics of the National Bureau of Statistics, the output of 59 categories of products increased.

5. China’s foreign exchange reserves stood at USD 3.32 trillion at the end of September, maintaining more than USD 3.2 trillion for more than 10 months consecutively. Gold reserves have maintained unchanged for five consecutive months.

6. China handled more than 2 billion trips during the National Day holiday, the Ministry of Transport said, with the daily average number of trips reaching 286 million, a 3.9 percent increase year-on-year.

7. The latest figures from the Ministry of Culture and Tourism show that domestic attractions received 765 million visits during the holiday, also known as Golden Week, which started on Oct 1. That was up 5.9 percent year-on-year and an increase of 10.2 percent compared with the same period in 2019. Tourism-related revenue reached a record high of over RMB 700.8 billion during the break, an increase of 7.9 percent compared with the same period in 2019.

8. China recorded RMB 2.1 billion in box office takings for the 2024 National Day holiday, according to the China Film Administration. A total of 52.09 million movie tickets were sold during the holiday. Domestic films raked in RMB 2.02 billion at the box office, accounting for 95.87 percent of the total, the administration said.

9. The National Immigration Administration announced that during the seven-day National Day holiday, border inspection agencies nationwide recorded nearly 13.1 million entries and exits by Chinese and foreign nationals, marking a 25.8 percent increase compared to last year, with the daily average number of 1.87 million entries and exits. The holiday, which ran from October 1 to 7, recorded peak entries and exits on October 5, with over 2.03 million entries and exits.

10. A total of 3.16 billion parcels were collected during the seven-day National Day holiday, with the average daily collection volume increasing by 28.4 percent compared with the National Day holiday last year, according to data released by the State Post Bureau.

(Source: Economic Daily)