1. Stable forex reserves 

 

After two consecutive months of slight decline, China's foreign exchange(forex) reserves stabilized and rebounded. Despite the obvious increase in global economic instability and uncertainty, China's long-term economic fundamentals will not change, as the balance of payments structure is sound, the current account maintains a reasonable surplus, and RMB assets have long-term investment value. China's forex reserves are expected to stay generally stable supported by the strong resilience and great potential of China's economy. 

 

2. Successful sharing

 

The Fifth China International Import Expo (CIIE) witnessed a total USD 73.52 billion worth of tentative deals for one-year purchases of goods and services, an increase of 3.9% over the previous event. CIIE once again demonstrated to the world the resilience and vitality of the Chinese market and is also a window for international visitors to further understand the Chinese path to modernization and high-quality development. A series of pragmatic moves taken to promote the building of an open world economy, once again demonstrate China's sincerity and resolve to further pursue a mutually beneficial strategy of opening up.

 

3. Real estate financing boosted

 

This year, China's real estate market as a whole has been in a downward trend, with more cities experiencing declining prices and a strong sense of wait-and-see among home buyers, resulting in a decline in real estate sales. With the further implementation of various initiatives, it is expected to play a positive role in promoting the stabilization of the real estate market.

 

 

1. The Joint Prevention and Control Mechanism Working Group of the State Council recently announced the notice on further optimizing prevention and control measures for COVID-19 in a science-based and targeted manner. The notice points out that China has made important arrangements and clear requirements regarding the 20 prevention and control measures, and that all departments and local governments should implement the optimized measures without compromise.

 

2. The National Development and Reform Commission recently released the "Three-Year Action Plan for the Development of a World-class Business Environment in the Yangtze River Delta", proposing that by 2025, there will be an orderly and free flow of resources and production factors, administrative barriers will be gradually eliminated, and a unified and open market system will be basically established in the Yangtze River Delta.

 

 

1. According to Ministry of Commerce, from January to October, China’s actual use of foreign capital amounted to RMB 1089.86 billion, rising 14.4% year on year.

 

2. Data from National Bureau of Statistics showed that China's value-added industrial output went up 5 percent year on year in October. From January to October, China's value-added industrial output rose 4.0% year on year.

 

3. According to the State Administration of Foreign Exchange, in October, the amount of foreign exchange settlement and sales by banks was RMB 1212.5 billion and RMB 1297.1 billion, respectively. From January to October 2022, the accumulative amount of foreign exchange settlement and sales by banks was RMB 14447.1 billion and RMB 13759 billion, respectively.

 

4. According to Ministry of Finance, as of the end of September, China’s agricultural insurance premiums reached RMB 105.9 billion, an increase of 26.7% year on year, maintaining the world’s largest scale.

 

5. Data from the National Energy Administration showed that from January to October this year, China’s total electricity consumption reached 7176 billion kWh, an increase of 3.8% year on year. 

 

6. From January to October this year, Chengdu-Chongqing economic circle completed the investment of RMB 188.95 billion, involving key areas of modern industries, public service, cultural tourism, among others, with an annual investment completion rate of 103%, completing the investment plan of the whole year ahead of schedule.

 

7. According to Ministry of Water Resources, by the end of October, water conservancy investment was RMB 921.1 billion, reaching a record high. 

 

8. The 14th Airshow China 2022 saw the signing of business deals worth USD 39.8 billion. More than 740 domestic and overseas enterprises from 43 countries and regions participated onsite or online.

 

9. According to Ministry of Industry and Information Technology, the scale of investment and financing in virtual reality(VR) more than doubled in 2021. By incomplete statistics, there are more than 10,000 VR-related enterprises in China.            

 

(Information Source: Economic Daily)