Better Connectivity

正Sustainable transport promotes sustainable development The image of a red truck exiting a tunnel on its way to Dulongjiang Township in Yunnan Province has been printed on a stamp issued on October 15 during the Second United Nations Global Sustainable Transport Conference(UNGST Conference). The stamp shows how the development of transport can help alleviate poverty.     

Economic Rebound Attracts More FDI

正The Western mainstream media has often lashed out against the Chinese Government and the country,but that has not resulted in a negative impact on China when it comes to attracting substantial flows of inbound foreign direct investments(FDI).     

A Leisurely Holiday

正Tourism industry shows new trends during National Day holiday China's tourism industry showed strong momentum during the National Day holiday, which lasted from October 1 to 7. According to the Ministry of Culture and Tourism(MCT), the country's tourism revenue reached 389 billion yuan($60 billion) during the period, 59.9 percent of that over the same period in 2019,     

A Strong Start

正China's economic performance in Q1 recovered pre-pandemic levels Recovering from the lows caused by COVID-19 last year, China's economy grew 18.3 percent year on year to 24.93 trillion yuan($3.82 trillion) in the first quarter(Q1) of 2021. According to data released by the National Bureau of Statistics(NBS) on April 16,     

Only One Way Out

The Think Tank&Media Forum on Global Economic Development took place in Beijing on March 8.Themed"Exploring new measures for win-win cooperation,and sharing new achievements in global development,"the event,hosted by China International Publishing Group (CIPG),attracted both Chinese and international experts,who shared their thoughts on global economic recovery and global governance in the post-pandemic world.     

MARKET WATCH

The central bank on November 19 ordered commercial banks to set aside an additional 0.5 percent of their reserves amid looming inflationary risks.Investors are on the defense and preparing for the worst by buying up gold as a safe haven against inflation and market uncertainties.China’s stateowned enterprises earned a combined profit of 1.626 trillion yuan($245 billion) from January to October this year,soaring 44.8 percent year on year.In a push into renewable energies,China should enhance efforts in hydropower,wind power and inter-provincial trade,as well as green electricity schemes,said the World Bank.The aviation industry booms as air traffic increases.     

Ditching U.S.Securities?

Japan overtook China as the largest foreign holder of U.S.Treasury securities at the end of 2009 after China sold $34.2 billion in American securities last December.China had previously surpassed Japan as the largest holder in September 2008.Since then,China has increased and reduced its holding from time to time.The latest amount,however,accounted for 4 percent of all Chinese holdings and was the biggest single month reduction in years.     

MARKET WATCH

TO THE POINT: The government vowed to improve farmers' living stan- dards and underlined several tasks to be fulfilled this year in this regard. A majority of domestic individual investors suffered losses of more than 70 percent on their investments in mainland stock markets last year. Steel manufacturers were also unlucky in 2008 and lost a total of $1.87 billion in November alone. Despite pressure from the gloomy economic situation, more than 200 enterprises in Shanghai promised no layoffs. Tainted milk p...     

MARKET WATCH

China has maintained its attractiveness to foreign investors with foreign direct investments leaping 17.4 percent last year. Meanwhile, domestic companies are rushing to extend their global reach, boosting outbound direct investment to a record high. Despite gloomy stock markets, China has taken a leading position among global IPO markets. The logistics industry picks up momentum, though problems remain. Home appliance giant Haier has fared well, with profits soaring 78 percent last year.     

MARKET WATCH

Manufacturing Slackens The momentum of the manufacturing sector showed signs of wearing off in July,raising concerns over an economic slowdown.     

Back to Expansion

China’s economy rebounds despite headwinds triggered by COVID-19 Recovering from the contraction caused by the novel coronavirus disease(COVID-19)epidemic,China’s economy saw a better-than-expected performance in 2020.The GDP expanded 2.3 percent year on year to101.59 trillion yuan($15.6 trillion),exceeding the100-trillion-yuan($15.42 trillion)mark for the first time.The per-capita GDP exceeded$10,000for two consecutive years,narrowing the gap with high-income countries,data from the National Bureau of Statistics(NBS)showed.     

Still a Magnet

The COVID-19 pandemic still spreading globally has forced people to wear masks and reduce their outdoor activities, but women in pursuit of beauty have never really ceased to buy cosmetics. According to U.S.-based cosmetics giant Estée Lauder, its net sales for the first quarter (Q1) of the year reached $3.86 billion with a year-on-year increase of 16 percent, a number in which the Chinese market held some high stakes.     

MARKET WATCH

Auto Boom China's auto market continues to thrive,though the sales boom is losing some shine.     

MARKET WATCH

The China Banking Regulatory Commission has kickstarted a pilot program to bolster consumer finance companies. This marks a step forward in the economic shift toward consumptions. In June, China trimmed a record net $25.1 billion in holdings from U.S. Treasury securities on concerns over the value of U.S. dollar assets. Air China Ltd., one of the country's big three carriers, meanwhile, plans to raise its stake in Cathay Pacific Airways Ltd. to nearly 30 percent. China's foreign direct investment inflows, a...     

Putting Perspective on China's Defense Spending

The Second Session of the 11th National People's Congress an-nounced in March that China's 2009 defense budget is 480.686 billion yuan($70.7 billion),increasing by 62.482 billion yuan($9.2 billion),or 14.9 percent,over the previous year.On March 16,Beijing-based Guangming Daily published an interview with Quan Linyuan,a professor at the University of National Defense of the People's Liberation Army and Chen Xiaojing,a doctoral candi-date there,who both shared their perspectives on the increase of China's mi...     

Valuable Lessons from Tibet's Fight Against Poverty

IN 1951,when Tibet was peacefully liberated,the poverty rate in the region was as high as 80 percent.In the following decades,the Chinese government carried out a comprehensive anti-poverty campaign in Tibet,leading to a steady decrease in the number of poor people in the region.The figure fell to 26 percent of local population in 2012,with 600,000 people still living in extreme poverty at that time. Since 2012,the Chinese government has given top priority to targeted poverty alleviation by constantly exploring innovative approaches.At the end of 2019,the government of Tibet Autonomous Region an-nounced that 628,000 people in 74 counties of the region had been lifted out of poverty,and their per capita net income had increased from RMB 1,499 (US$229) in 2015 to RMB 9,328 (US $1,426) in 2019.     

In Good Debt

China's outstanding foreign debt was more than$2.29 trillion at the end of the third quarter of 2020,up 7.6 percent from the end of the second quarter,according to the State Administration of Foreign Exchange(SAFE).     

The Key to Promoting Economic Growth

The low contribution of consumption to economic growth has become a source of anxiety for Chinese economic officials. With a sharp decline in exports as a result of the international financial crisis, the Chinese Government hopes that consumption will become a new engine of economic growth. The aim of promoting domestic demand is very clear in the 4-trillion-yuan ($586-billion) economic stimulus package the government approved last fall. How should we assess the present situation of consumption in China and...     

Picasso on Show in Shanghai

A staff member of the National Picasso Museum of France checks one of the great Spanish artist Pablo Picasso’s works at the China Pavilion inside the site of the 2010 World Expo in Shanghai on October 12.Sixty-two priceless paintings and statues selected from the works of the renowned artist have been brought to the pavilion for an upcoming exhibition to premiere on October 18.Besides these representative masterpieces,50 valuable photographs showing the artist’s whole life will also be presented.The exhibition’s estimated value is 678 million euros ($934 million).It will be held until January 10,2012.     

Not-So-Desperate Housewives

After equally dividing community property with her husband, a housewife in Fujian Province received an additional 550,000 yuan ($85,000) in "household labor compensation." The verdict was made by a local court in July. It is one of several cases nationwide that saw housewives receive divorce compensation for additional domestic duties this year, thanks to an article in China's Civil Code, the civil law promulgated last year that went into force on January 1. The woman in this particular case, who had married to her husband for more than 20 years, obtained higher compensation than other such cases earlier this year, in which the housewives got between 15,000 yuan ($2,320) and 120,000 yuan ($18,550).