Opinion

 

1. Consolidate the momentum of recovery in industrial growth

 

At present, China's industry is in a critical period of climbing the slope, becoming stronger from large, and accelerating to the higher-end of the global value chain. We must seize all favorable opportunities and make use of all conducive conditions to promote the steady growth of the industrial sector and consolidate the momentum of recovery.

 

2. Promote lawful, rational and effective use of data

 

With the rapid development of artificial intelligence, big data and other technologies, China's data volume has shown explosive growth, and security risks are also increasing. Data security is critical, and it is urgent to build a strong defensive line. The State Council recently issued the Regulations on the Administration of Network Data Security to further regulate online data processing activities, ensure data security, and promote the rational and effective use of data according to law.

 

Policy

 

1. According to the China Development Bank, the bank issued RMB 937.6 billion of infrastructure loans in the first three quarters of this year. The proportion of infrastructure loans in the total loan balance has steadily increased, focusing on supporting the development of transportation, energy, water conservancy, logistics, data centers, urban underground pipe networks, urban and rural domestic waste and sewage treatment.

 

2. According to the National Development and Reform Commission, in 2025, China will continue to issue ultra-long-term special Treasury bonds and further optimize the investment, and will still vigorously support the implementation of major national strategies and security capacity building in key areas.

 

3. On October 23, the Ministry of Industry and Information Technology organized a symposium to officially launch the pilot work of expanding the opening up of value-added telecom services in Beijing, Shanghai, Hainan and Shenzhen.

 

Data

 

1. China's GDP in the first three quarters increased by 4.8 percent year on year at constant prices to RMB 94.97 trillion, as showed by data released from the National Bureau of Statistics on October 18.

 

2. From January to September, the value added of industrial enterprises above the designated size increased by 5.8 percent over the previous year. The output of new energy vehicles, integrated circuits, and 3D printing technology grew 33.8 percent, 26 percent, and 25.4 percent year on year respectively, according to the National Bureau of Statistics.

 

3. Hudong-Zhonghua, a subsidiary of China State Shipbuilding Corp (CSSC) signed an order of six 13600-TEU container ships with RMB settlement. As the largest order of container ship this year, it also marked an important step for advancing the RMB internationalization.

 

4. To facilitate exchanges between people across the Strait, the mainland has increased the number of ferry services between Fujian and Taiwan this year. As of October 19, the passenger volume for the routes has increased 87.6 percent year on year to more than one million this year.

 

5. The Zhuhai port of the Hong Kong-Zhuhai-Macao Bridge saw about 12.74 million inbound and outbound vehicles as of October 20, since the bridge's opening in 2018.

 

6. The installed capacity of power generating units in China reached 3.16 billion kW as of the end of September, with a year-on-year increase of 14.1 percent, said the National Energy Administration.

 

7. The 2024 China Jingdezhen International Ceramic Expo ended on October 22 in Jingdezhen, renowned worldwide as the "porcelain capital", in Jiangxi province. The event attracted about 430,000 visitors with turnover orders of about RMB 2.25 billion.

 

8. China has established a full-fledged new energy industrial chain, and provided 80 percent of the world's photovoltaic components and 70 percent of wind power equipment, according to the National Energy Administration.  

 

9. The Western Land-Sea New Corridor trains transported 700,013 TEUs throughout as of October 23, a 1.2-percent year-on-year increase. It has provided strong support for the high-quality development of the economy of the western region, and facilitated the integration of the economy of the western region into the new development pattern.

 

10. China’s west-east power transmission program has transmitted more than 700 billion kilowatt-hours, equivalent to the electricity consumption of 210 million households in a year, according to the State Grid Zhejiang Electric Power.