Opinion

 

Integration development for recreational vehicle camps

 

Traveling with recreational vehicle camps becomes more popular due to modern people’s pursuit of personalized consumption and better experience. As a major highlight in today’s consumption trend, it offers new experience while boosting development of relevant industries. At the fourth China’s International Consumer Products Expo, the representative from the Ministry of Commerce emphasized the potential of developing new ways of consumption such as low-altitude economy, cruise and yacht, recreational vehicle camps. The integrative development of recreational vehicle camps is expected to unleash consumption potential. 

 

Policy

 

1. China Securities Regulatory Commission issued regulations on the trading fees of publicly offered securities investment funds on April 19. According to the regulations, the maximum allocation ratio of trading commission will be reduced from 30 percent to 15 percent, and the total annual stock trading commission of public offered funds will be reduced by 38 percent as measured by static data.

 

2. The guidelines on strengthening the management of rural housing construction were issued by the Ministry of Housing and Urban-Rural Development, the Ministry of Emergency Management and other three departments. The guidelines require all local governments to carry out regular identification and rectification on hidden safety risks of rural housing, establish a regular inspection mechanism for the safety of rural housing, and strictly manage rural housing used for business purposes, etc. By 2025, the quality and safety of rural housing will be under the whole process closed-loop supervision and management.

 

3. Beijing introduced new policy measures related to housing loan rates. Starting from April 23, home-buyers who were divorced less than a year with no home ownership will use the housing rates for first-time home-buyers.

 

Data

 

1. China's non-financial outbound direct investment (ODI) came in at RMB 242.92 billion (about USD 34.2 billion) in the first quarter of this year, up 12.5 percent year on year, official data showed on April 19. The investment in members of the Association of Southeast Asian Nations (ASEAN) and European Union saw rapid growth, jumping 36.7 percent and 34.5 percent from the same period a year earlier, respectively, according to the Ministry of Commerce.

 

2. China's courier sector expanded significantly in the first quarter of this year, with a total of 41.73 billion pieces have been delivered, a year-on-year increase of 22.1 percent, according to data released by the State Post Bureau on April 19.

 

3. Retail sales of new energy passenger vehicles in China reached 260,000 units from April 1st to 14th, a year-on-year increase of 32 percent. In the first half of April, the retail penetration rate of new energy passenger vehicles was 50.39 percent, surpassing traditional fuel passenger vehicles for the first time, according to the China Automobile Dealers Association.

 

4. China's one-year loan prime rate (LPR), a market-based benchmark lending rate, came in at 3.45 percent on April 22, unchanged from the previous month. The over-five-year LPR, on which many lenders base their mortgage rates, also remained unchanged from the previous reading of 3.95 percent, according to the National Interbank Funding Center. 

 

5. The China-Laos Railway had handled over 8 million tonnes of import and export goods as of April 21, said Kunming Customs.

 

6. The main employment indicators remained steady in the first quarter of 2024, with a total of 3.03 million new urban jobs created during the period, an increase of 60,000 compared with the same period last year, according to the Ministry of Human Resources and Social Security.

 

7. The revenue of China's digital reading industry in 2023 reached RMB 56.7 billion (USD 7.98 billion), marking 22.33% growth year on year and the highest annual growth in five years. Additionally, 570 million people engaged in digital reading during the period, according to the report on digital reading published at the third National Conference on Reading held on April 24 in Kunming, capital city of southwest China's Yunnan Province.

 

8. The additional RMB 1 trillion of treasury bond issued last year has been released in three batches, and more than 7,800 water conservancy projects were funded. At present, 4,753   water conservancy projects have been implemented, with an investment of RMB 76.75 billion, achieving overall progress, according to the Ministry of Water Resources.

 

9. The country added 69.43 million kilowatts of installed power generation capacity in the first quarter of this year. Among them, the newly added installed capacity of non-fossil energy was 63.76 million kilowatts, accounting for 91.8 percent of the total newly added installed capacity, continuing the trend of green and low-carbon development, according to China Electricity Council.

 

10. The 2024 Beijing International Auto Show started on April 25th, with 117 new cars making their global debuts, including 30 new cars from multinational corporations. Among the newly launched cars, new energy vehicles accounted for over 80 percent, and nearly 20 new energy brands made their debuts.

 

(Source: Economic Daily)