Opinion

 

1. Trade-in program unveiled to stimulate consumer market vitality

 

To boost domestic demand through consumer goods trade-in program in the field of home appliances, more efforts need to be made to focus on the present and make full use of all preferential policies. It is important to keep all parties motivated, remove obstacles and bottlenecks, and better play the leading role of standard, so as to deliver satisfactory effects of the policies.

 

2. The changing competition logic of fruit industry

 

In a country with a huge population and diverse needs, consumers will find their suitable fruits according to their needs, no matter expensive or not. The competition logic in the fruit industry is experiencing change, from mere price competition to comprehensive competition involving prices, services, and brands. Thus, the high-quality development of the industry is instrumental, regardless of the price.

 

 

Policy

 

1. The third batch of innovation consortium of China's central SOEs was launched by the State-owned Assets Supervision and Administration Commission of the State Council on June 14, centering on key areas such as strategic emerging industries and future industries. Three renewed consortium and 17 new consortium will be built in fields including industrial software, industrial tools, and new energy.

 

2. A cooperation agreement has been signed between the Ministry of Industry and Information Technology and the National Natural Science Foundation of China on June 14, to jointly establish a research fund on the study of giant passenger airplanes. Focusing on China's major strategic needs of giant passenger airplanes, the research aims to improve the qualities of airplanes to be long-term safe, environmental friendly, intelligent and efficient, economic and convenient, with basic, prospective, and innovative research.

 

3. China included Australia in the list of unilateral visa-free countries on June 17.

 

 

Data

 

1. China's railways handled about 1.73 billion passenger trips in the first five months of this year, representing a year-on-year growth of 20.2 percent, data from China Railway shows.

 

2. According to data released by the People's Bank of China on June 14, the stock of social financing at the end of May was RMB 39.193 trillion, a year-on-year increase of 8.4 percent. Among them, the balance of loans issued to the real economy was RMB 24.574 trillion, a year-on-year increase of 8.9 percent.

 

3. The C919 aircraft with the registration number B-919A, operated by China Eastern Airlines, took off as MU5309 from Shanghai Hongqiao Airport to Guangzhou Baiyun Airport on June 14, marking the official opening of the fourth commercial scheduled flight for C919. 

 

4. China-Europe Railway Express has performed remarkably well this year. In May in particular, the China-Europe freight train services made 1,724 trips and carried 186,000 TEUs of goods, up by 14 percent and 13 percent respectively year-on-year, hitting a new monthly high.

 

5. In May, the net inflow of funds under the goods trade category increased 76 percent month on month and 23 percent year on year, continuing to underpin cross-border capital flows, data from the State Administration of Foreign Exchange showed.

 

6. From January to May, industrial power generation above designated size in China reached 3,657 billion kilowatt hours, a year-on-year increase of 5.5 percent. The electricity consumption increased by 8.6 percent year-on-year, according to the National Development and Reform Commission.

 

7. According to the 2023 Statistical Bulletin on the Development of the Transportation Industry released by the Ministry of Transport on June 18, China completed an average daily investment of RMB 10.7 billion in transportation infrastructure in 2023, setting a new historic high.

 

8. China has established a charging infrastructure network that boasts the world's largest number of installations, the most extensive services, and the most diverse range of options, according to the National Development and Reform Commission. As of the end of May, China had erected 9.92 million chargers throughout the country, marking a significant 56 percent year-on-year expansion.

 

9. Data shows that the total amount of commercial logistics in China reached RMB 126.1 trillion in 2023, a year-on-year increase of 5 percent. As of the end of 2023, China has renovated a total of 899 county-level logistics distribution centers.

 

10. The latest data released by the China General Chamber of Commerce shows that in the first six months, the prosperity index of China's retail industry averaged 50.7 percent, a year-on-year increase of 0.1 percentage points. In June, the retail prosperity index was 50.9 percent, which was in the expansion range for 18 consecutive months.

 

 

(Source: Economic Daily)