Opinion

1. Quality and efficiency prioritized in project construction

Recently, multiple regions have been actively advancing project construction to promote earlier commencement, faster progress, and sooner delivery of results. Previously, the National Development and Reform Commission has allocated over RMB 300 billion to support the third batch of projects in 2025 to implement major national strategies and build up security capacities in key areas. Amid a complex and ever-changing external environment and the arduous tasks of reform and development, while accelerating the pace of project construction, greater emphasis must be placed on improving quality and efficiency. This will help consolidate and expand the momentum of economic recovery, providing solid support for achieving the annual economic and social development goals.

2. Building a smart foundation for high-quality development

The State Council recently issued the opinions on deepening the implementation of the "AI+" initiative. This move marks a critical leap in China's artificial intelligence development, transitioning from technological breakthroughs to enabling all factors of production. It represents another strategic deployment by the state to promote the digital economy after the "Internet+" initiative, holding significant importance for cultivating new quality productive forces and fostering high-quality development.

Policy

1. Chinese authorities have unveiled a set of interim rules to strengthen the control and management of rare earth mining, smelting and separation. The interim rules, made public on August 22, were jointly issued by the Ministry of Industry and Information Technology, the National Development and Reform Commission and the Ministry of Natural Resources. Authorities will set annual quota targets for rare earth mining, smelting and separation, and further allocate these quotas to related firms. These firms should strictly complying with laws and administrative regulations.

2. Recently, the Tianjin International Port Economic Cooperation Center has been officially put into operation, focusing on supporting domestic enterprises in enhancing cooperation with member countries of the Shanghai Cooperation Organization.

3. China's central bank, the People's Bank of China, has issued a notice jointly with the National Financial Regulatory Administration and the National Forestry and Grassland Administration, outlining 15 targeted measures to leverage financial strength to drive high-quality forestry development.

Data

1. China's early rice production achieved increased yield and output despite floods and typhoons this year. The yield reached a record high of over 400 kilograms per mu (One mu is equivalent to 1/15 hectare), for the first time in history.

2. China's business environment has continued to improve since the launch of the 14th Five-Year Plan (2021-25), thereby fully stimulating entrepreneurial vitality across society. The country recorded a net increase of approximately 34 million self-employed households and registered a net increase of almost 20 million enterprises during the same five-year period, according to the State Administration for Market Regulation.

3. The latest data from the National Energy Administration shows that, as of the end of July, the nation's total installed power generation capacity reached 3.67 billion kilowatts, up 18.2 percent year on year. Among them, the total installed solar and wind power capacity reached 1.11 billion kilowatts and 570 million kilowatts respectively, increasing 50.8 percent and 22.1 percent year on year respectively.

4. January-July online sales of computers, smart wearables, and mobile phones in China increased by 29.9 percent, 28.4 percent, and 20.3 percent year on year respectively.

5. Pet food has become the largest segment of China's pet economy, with its market size reaching RMB 166.8 billion in 2024, a year-on-year increase of 7.54 percent. It is projected to exceed RMB 175.5 billion in 2025.

6. Data showed that China has added or expanded 40 ports of entry since the beginning of the 14th Five-Year Plan period (2021-2025), bringing the total to 311 nationwide.

7. China's logistics sector showed a notable improvement in business activities during the 14th Five-Year Plan period, according to the China Federation of Logistics and Purchasing. The revenue in the sector expanded by about RMB 4 trillion during the five years and is expected to exceed RMB 14 trillion in 2025. China's logistics market is projected to rank first in the world for the 10th consecutive year.

8. China's digital publishing industry revenue reached a new high of RMB 1.75 trillion in 2024. This figure represents an 8.07-percent increase year on year, according to an annual report released recently.

9. JD.com, Alibaba (China) Co Ltd and Hengli Group Co Ltd retained the top three positions on the list of the 2025 China Top 500 Private Enterprises. The list compiled by the All-China Federation of Industry and Commerce, was released on August 28.

10. China's data sector has seen significant growth during the 14th Five-Year Plan period (2021-2025), with notable strides made in market size and digital infrastructure. The sector's scale reached RMB 5.8 trillion by the end of 2024, with an expected average annual growth rate of over 15 percent from 2025 to 2030.

(Source: Economic Daily)