Report looks at trends, data looks at vitality, China's economy accelerates →

The Fifth Session of the Standing Committee of the 14th National People's Congress was held in Beijing from August 28th to September 1st. Two reports from the State Council were submitted for review at the meeting, covering economic and social development and China's food security.

China's Economic Accelerated Run · Report on Trends

Since the beginning of this year, the national economy has continued to recover and recover, showing signs of improvement

The report of the State Council on the implementation of the national economic and social development plan since the beginning of this year points out that the overall implementation of the plan has been good, and the national economy has continued to recover and overall rebounded. In the first seven months, 19.102 million new operating entities were established, including 5.791 million enterprises, with a year-on-year increase of 12% and 15.6% respectively; The reform of the stock issuance registration system has been fully implemented. In the first seven months, a total of 210 companies went public for the first time and raised 247.9 billion yuan.

The report points out that the export of goods in the first seven months increased by 1.5% year-on-year, with a total increase of 52.4% in the export of electric passenger vehicles, lithium-ion batteries, and solar cells. Knowledge intensive service trade has grown rapidly, while travel service trade has significantly recovered. In the first half of the year, the import and export of services increased by 8.5% year-on-year. Promote the implementation of landmark foreign investment projects, and promote the stable development of foreign trade and investment.

The report shows that in the first seven months, the import and export of the countries along the "the Belt and Road" increased by 7.4%, the number of China EU trains and the volume of goods delivered increased by 13% and 27% respectively, and the joint construction of the "the Belt and Road" continued to advance.

China will ensure national food security from eight aspects

The report of the State Council on ensuring national food security shows that China's grain production has remained stable at over 1.3 trillion kilograms for 8 consecutive years. In 2022, the grain production was 1373.1 billion kilograms, with a grain yield of 386.8 kilograms per mu, an increase of 49.8 billion kilograms and 13 kilograms respectively compared to 5 years ago; The per capita share of grain reached 486.1 kilograms, which is higher than the internationally recognized food security line of 400 kilograms.

The report proposes to strengthen the food security guarantee system and capacity building, vigorously implement grain storage in the land, actively promote grain storage in technology, increase agricultural protection support, effectively improve food regulation capabilities, accelerate the construction of modern food industry and circulation system, continuously improve diversified food supply capacity, and deepen food conservation and loss reduction actions to ensure national food security.

China's Economic Acceleration Run: Data Looking at Vitality

Multiple economic data from the first seven months have been released, showing stable growth in social logistics demand, sufficient supply, and further release of foreign trade vitality.

Logistics operations continued to recover steadily in the first 7 months

From January to July this year, the total amount of social logistics in China was 189.9 trillion yuan, a year-on-year increase of 4.7%. From a structural perspective, the dual drive of basic industries and upgrading industries supports the sustained growth of industrial logistics. In July, the total amount of raw material manufacturing logistics increased by 8.8% year-on-year, which is 2 percentage points faster than June. Especially in the steel and oil processing industries, the year-on-year growth rate is around 15%, which has accelerated compared to the previous month. In addition, with the extension of the industry to the high-end and the transformation towards green, the logistics demand in related fields continues to grow rapidly. In July, the total amount of aerospace and equipment manufacturing, as well as intelligent consumer equipment logistics, both increased by more than 10% year-on-year.

Liu Yuhang, Director of China Logistics Information Center: The supply capacity of the entire logistics industry in society is still relatively strong, and the structure is further optimized.

The total import logistics volume in the first 7 months was 10.1 trillion yuan

From the perspective of import logistics, the total import logistics volume from January to July was 10.1 trillion yuan, a year-on-year increase of 13.8%. In addition, consumer logistics for people's livelihoods continues to grow steadily. From January to July, the total logistics volume of goods between units and residents increased by 10.1% year-on-year, a slight increase of 0.1 percentage points compared to the first half of the year. Offline logistics such as catering, department stores, and convenience stores continue to recover, with a cumulative increase of over 20% in the total amount of catering related logistics.

China Council for the Promotion of International Trade: The cumulative issuance of various certificates in July increased by 12.82% year-on-year

On August 30th, the China Council for the Promotion of International Trade introduced that in July of this year, the national trade promotion system issued a total of 546200 certificates of origin and other types of certificates, an increase of 12.82% year-on-year. The number of RCEP origin certificate visas in the national trade promotion system was 17298, a year-on-year increase of 27.03%; There are 3416 certified enterprises, a year-on-year increase of 20.03%, and it is expected to reduce tariffs by a total of $09 million for Chinese products in RCEP importing member countries.

Sun Xiao, spokesperson for the China Council for the Promotion of International Trade, said: This indicates that the popularity of enterprises going abroad to hold exhibitions and participate in exhibitions has not decreased recently, and the willingness of enterprises to explore markets overseas is still strong.