Opinion

 

1. Intelligent logistics leads industry upgrading

 

The Ministry of Transport recently released a report on boosting China's strength in transportation (2023) , summarizing the new progress for developing China's transportation strength. With improved transport network, breakthroughs have been made in the research and development of new modes of transport. Progress has been seen in intelligent transportation, green and low-carbon transformation in transport, and the Belt and Road transport connectivity. Smart logistics in China is developing vigorously and improving steadily.

 

2. Share and jointly promote an open world economy

 

The 7th China International Import Expo was held in Shanghai from November 5 to 10. Amid weak momentum of global economic recovery and increasing instability and uncertainty, this event has demonstrated China's sincerity in providing new opportunities to the world through new development, and China's determination and confidence in advancing high-level opening-up and building an open world economy.

 

 

Policy

 

1. In order to further promote personnel exchanges between China and other countries, China has decided to expand the scope of visa-free countries by offering a trial visa-free policy to holders of ordinary passports from Slovakia, Norway, Finland, Denmark, Iceland, Andorra, Monaco, Liechtenstein and the Republic of Korea. During the period from November 8, 2024 to December 31, 2025, holders of ordinary passports from the above countries may enter China visa-free for business, tourism, visiting relatives and friends and transit for no more than 15 days.

 

2. Revised rules on foreign investors' strategic investment in listed companies were released by the Ministry of Commerce, the China Securities Regulatory Commission and other four departments, lowering the investment threshold from five aspects. The purpose is to further expand the channels for foreign investment in the securities market, give full play to the potential of strategic investment channels to attract investment, and encourage foreign investment to carry out long-term and value investments. The Measures will come into force on December 2, 2024.

 

 

Data

 

1. China's installed renewable energy capacity and power generation capacity continued to increase in the first three quarters of this year, data from the National Energy Administration showed. The power generation capacity of renewable energy reached 2.51 trillion kWh, a 20.9 percent increase from the previous year. It makes up about 35.5 percent of the nation's total power generation capacity. 

 

2. From January to September, central enterprises have purchased a total of RMB 5.1 billion of agricultural products from poverty alleviation areas and sold a total of RMB 4 billion of agricultural products, making an important contribution to the promotion of rural revitalization.

 

3. Hong Kong recorded nearly 32.6 million visitor arrivals in the first three quarters of this year, marking a year-on-year increase of nearly 40 percent, data from the Hong Kong Tourism Board showed on October 31. Among the total arrivals, over 25.2 million were from the Chinese mainland.

 

4. China's marine economy expanded steadily during the first three quarters, with a gross output of RMB 7.7 trillion, up 5.4 percent year on year, according to the Ministry of Natural Resources.

 

5. During the World Internet of Things Exposition 2024, the White Paper on the Intelligently Interconnected Digital Economy was launched. Data showed that the number of global IoT connections is expected to exceed 25 billion this year, and the number of IoT connections in China is expected to exceed 3 billion.

 

6. According to data from the Ministry of Commerce, China's service imports and exports totaled RMB 5,518.14 billion in the first three quarters of this year, a year-on-year increase of 14.5 percent. The imports and exports of travel service, the major area of service trade, totaled RMB 1505.28 billion, an increase of 42.8 percent.

 

7. In the first three quarters of this year, the total trade volume between China and Mekong countries (Myanmar, Cambodia, Laos, Thailand and Vietnam) exceeded RMB 2.28 trillion, an increase of 12.7 percent year on year, a record high. 

 

8. The number of private business entities in China had exceeded 180.86 million by the end of September 2024, accounting for 96.37 percent of the country's total business entities, said the State Administration for Market Regulation. The number marked a 3.9-percent year-on-year rise, and an increase of more than four times in more than 10 years.

 

9. As of the end of the third quarter of 2024, outstanding inclusive loans for small and micro enterprises increased 14.69 percent year on year to RMB 32.58 trillion, according to the National Financial Regulatory Administration. Among them, outstanding inclusive credit loans for small and micro enterprises increased nearly 30 percent year on year.

 

10. Shenzhen has recorded over 200 million border crossings this year, an increase by 53.2 percent compared with the same period last year.

 

 

(Source: Economic Daily)