Opinion

 

1. Enhancing the global competitiveness of service trade

 

The State Council recently issued opinions on making further efforts to advance innovation and the high-quality development of the country's service trade sector. Over the years, China's trade in services has developed rapidly, with a steadily expanding trade scale, continuously optimizing structure, and continuously enhancing international competitiveness.

 

2.Monetary policy effectively supporting economic recovery and improvement

 

The scale of social financing and the growth rate of RMB loans are both higher than the nominal economic growth rate, and the interest rates of newly issued enterprise loans and personal housing loans are at historical lows... Since the beginning of this year, the prudent monetary policy has been flexible, moderate, targeted, and effective. In February, May, and July, significant monetary policy adjustments have been implemented, and comprehensive measures have been taken in terms of the total amount, structure, and transmission of monetary policy, better supporting the country's high-quality economic development.

 

Policy

 

1. On September 13, the National Administration of Traditional Chinese Medicine, the Ministry of Human Resources and Social Security, and other three departments jointly issued the opinions on accelerating the high quality development of county-level traditional Chinese medicine hospitals, clarifying that by 2030, the service capacity of county-level traditional Chinese medicine hospitals will be comprehensively improved.

 

2. According to Beijing Customs, Beijing Yizhuang Comprehensive Bonded Zone has been officially approved by the State Council for establishment.

 

3. China has issued guidelines on speeding up the establishment of a diversified food supply system to guarantee grain security and build up its strength in agriculture. The country will adopt an all-encompassing approach to food, implementing measures to effectively promote the development of new food varieties, new fields and new technologies, according to a document issued by the General Office of the State Council. Efforts will be made to expand food resources through multiple channels. China will boost sci-tech innovation to improve the quality and effectiveness of food development. Work will also be done to enhance the entire industrial chain, in particular the value chain of food industry.

 

Data

 

1. According to the National Medical Products Administration, 31 innovative drugs and 46 innovative medical devices have been approved from January to August, up 19.23 percent and 12.19 percent respectively over the same period last year.

 

2. High-end manufacturing companies listed on China's A-share market totaled 2,445, accounting for 45.74 percent of all the listed companies by the end of 2023, according to a report on the listed companies of high-end manufacturing industry 2024 released by the China Association for Public Companies.

 

3. China's export of advantageous products rose rapidly in the first eight months of this year, data from the General Administration of Customs showed. Among them, ship exports increased by 81 percent, and some enterprises have orders up to 2028.  

 

4. According to the Ministry of Ecology and Environment, China has always fulfilled its international commitments, and has eliminated the production and use of ozone-depleting substances (ODS) by a total of about 628,000 tons, accounting for more than half of the elimination amount in developing countries.

 

5. China recorded 629.564 million passenger trips during the three-day holiday for Mid-Autumn Festival, with 209.854 million passenger trips per day, up 31.1 percent year on year, according to data from the Ministry of Transport.

 

6. It has been five years since the implementation of the ecological protection and high-quality development strategy in the Yellow River Basin. Since August 1999 till now, thanks to the Yellow River diversions, the Yellow River has maintained 25 consecutive years of uninterrupted flow.

 

7. The State Post Bureau of China said that courier companies collected approximately 1.31 billion packages during this year's three-day Mid-Autumn Festival holiday, marking a 35.4 percent increase in daily collections compared to last year's Mid-Autumn Festival. Meanwhile, deliveries surged to around 1.407 billion packages, reflecting a remarkable 45.7 percent year-on-year growth.

 

8. From January to August, there were 13,056 China-Europe Freight train services, transporting 1.399 million TEUs, an increase of 12 percent and 11 percent respectively, according to China Railway. 

 

9. China's total amount of arable land increased by 17.58 million mu since 2021, maintaining growth for three consecutive years, the Ministry of Natural Resources said.

 

10. According to the National Development and Reform Commission, the NDRC approved 83 fixed-asset investment projects worth RMB 673.1 billion from January to August, mainly in the high-tech, energy, transportation and other industries.