Opinion

 

1. Mutual complementation and full integration of different kinds of energy

 

In a symposium on further energizing the central region in the new era, President Xi urged efforts to speed up the development of new-energy systems, and pointed out that importance should also be attached to the mutual complementation and full integration of traditional energy and new energy. Xi also noted the significance of mutual support between high-quality development and high-level security, and the balance between traditional energy and new energy.

 

2. To construct a unified national market

 

Substantial efforts should be made to accelerate the construction of a unified national market. There is a need to break down local protection and lift market barriers, as all production factors need to coordinate in production, distribution, circulation, and consumption. Local protection will hinder the regular economic activities, let alone give play their scale effect. 

 

Policy

 

1. The Ministry of Housing and Urban-Rural Development, the Ministry of Ecology and Environment and other three departments recently issued a notice about upgrading the urban sewage system. By 2027, all the sewage outlets and facilities in urban areas will be upgraded, and urban sewage collection rate will be more than 73 percent. 

 

2. The Ministry of Industry and Information Technology recently announced a pilot program of facilitating value-added telecommunication business to be more open to the world. Beijing, Shanghai, Hainan and Shenzhen will carry out pilot projects to abolish restrictions on the ratio of foreign shares in internet data centers, internet access services and other business.

 

3. According to the National Development and Reform Commission, the State Council recently issued a program on improving grain production capacity (2024-2030). According to the program, by 2030, China's newly added grain production capacity will be more than 100 billion jin (50 billion kg), and the comprehensive production capacity of grain will be further enhanced. It also clarifies the idea of "consolidating and upgrading the quality of grains, focusing on corn and soybeans, and taking into account potato and miscellaneous grains", to increase production of different grains.

 

Data

 

1. China's services industry reported accelerated expansion in March 2024, as shown by a rising business activity index which tracks the sector's performance. In March, the business activity index for the industry in general stood at 52.4 percent -- up 1.4 percentage points compared with the previous month. The reading in March also marked the third straight month of growth in the index, according to data jointly released by the National Bureau of Statistics (NBS) and the China Federation of Logistics & Purchasing.

 

2. Data released by the Ministry of Commerce shows that there were 7,160 newly established foreign-invested enterprises in the first two months of this year, a year-on-year increase of 34.9 percent, the highest level in nearly five years, indicating that multinational corporations are optimistic about the development opportunities of the Chinese market and continue to invest in China.

 

3. Aiming to encourage and steer financial institutions to increase financial support for technology-based small and medium-sized enterprises, technological upgrading in key areas, and equipment renewal projects, the People's Bank of China announced on April 7 the establishment of a reloan for technological innovation and upgrading. The loan has a RMB 500 billion limit and an interest rate of 1.75 percent.

 

4. On April 8, both domestic and international gold prices rose, setting a new historical high for international gold prices. The gold jewelry prices in gold retailers in China are also ballooning, with some reaching all-time pinnacles of RMB 728 per gram.

 

5. 270,000 cruise passengers and 157 foreign cruise ships have visited and left Shanghai Port in the year since international cruise ship operations resumed, according to the Shanghai Customs. 210,000 cruise passengers and 69 foreign cruise ships entered and left the country in the first quarter, representing increases of 15.1 and 3.3 times, respectively, month over month.

 

6. China Association of Small and Medium Enterprises released data on April 9, showing that the development index of small and medium-sized enterprises in the first quarter was 89.3, an increase of 0.2 points from the previous quarter, higher than the same period in 2022 and unchanged from the same period in 2023.

 

7. China's courier sector expanded significantly in March with the express delivery development index reaching 382.2, up 24.2 percent from the same period last year, according to an industry index released by the State Post Bureau. The overall operation of the express delivery industry remains smooth and stable, and the development momentum continues to improve.

 

8. China's central bank is scheduled to issue a set of commemorative coins featuring Antarctic expedition on April 17. The set of commemorative coins consists of a gold coin and a silver coin, both of them  will be legal tender in China.

 

9. The installed capacity of new energy in provinces of Guangdong, Yunnan, Guizhou, Hainan, and Guangxi Zhuang Autonomous Region totaled 145 million kilowatts, surpassing coal-fired power for the first time, according to China Southern Power Grid. The figure was 12.54 million kilowatts with a year-on-year increase of 72 percent in the first quarter of this year.

 

10.According to the Ministry of Housing and Urban-Rural Development, as of now, 65 cities in China have submitted plans and projects for the construction of affordable houses  in 2024. Among them, Xi'an plans to build 15000 units of affordable house. this year; Shenzhen has launched 13 projects and the construction of a total of 10000 units of affordable house.

 

 

(Source: Economic Daily)