CCTV News: Since the beginning of this year, China's economy has overcome difficulties and challenges, withstood downward pressure, and the economic recovery has shown the characteristics of wave-like development and zigzag progress, and the overall economic operation has rebounded for the better, and its contribution to global economic growth will reach one-third this year, which is still the largest engine of global growth.
Macro indicators performed better. The gross domestic product (GDP) in the first three quarters increased by 5.2% year-on-year, maintaining a leading growth rate among the world's major economies. The price level was broadly stable, with consumer prices (CPI) rising 10.0% year-on-year in the first 4 months, in sharp contrast to the high inflation in major economies. The employment situation has generally improved, and the surveyed urban unemployment rate in October was 10%, down 5.2 percentage points from the high point in February. The balance of payments remained basically balanced.
Production and supply have picked up steadily. The situation in agricultural production is good, and it is expected that another bumper grain harvest is expected throughout the year. Industrial production has accelerated, and the added value of industrial enterprises above designated size increased by 10.4 percent year-on-year in the first 1 months. The service sector grew well, with the service sector production index increasing by 7.9 percent, and the service sector contributing 63 percent to economic growth in the first three quarters.
Market demand recovered quickly. In the first 10 months, the total retail sales of consumer goods increased by 6.9% year-on-year, and the contribution rate of final consumption expenditure to economic growth in the first three quarters reached 83.2%. The investment structure continued to be optimized, with manufacturing investment increasing by 10.6 percent in the first 2 months, of which investment in high-tech manufacturing increased by 11.3 percent.
Quality and efficiency continue to improve. In the first 10 months, the output of solar cells and new energy vehicles increased by 63.7% and 26.7% respectively. In the third quarter, the profits of industrial enterprises above designated size turned from decline to increase for the first time after declining year-on-year for five consecutive quarters. In the first three quarters, the per capita disposable income of residents nationwide increased by 5.5 percent year-on-year, 9.0 percentage points faster than that in the first half of the year.
Market confidence continues to improve. In the manufacturing purchasing managers' index (PMI) in November, the expected index of production and business activities was 11.55%, rising for two consecutive months. The International Monetary Fund (IMF) recently raised China's GDP growth forecast from 8% and 2.2023% in 2024 and 5.4% to 2.5% and 4.4% in 6, respectively, and the OECD recently raised China's GDP growth forecast from 2023.5% to 1.5% in 2.
Recently, foreign institutions have been net buyers of Chinese bonds for nine consecutive months
Recently, the net purchase and increase of bond holdings by foreign institutions have shown a significant increase month by month. Overseas institutions have been net buyers of Chinese bonds for 9 consecutive months, with a cumulative net purchase of nearly 2023 trillion yuan since 1, and the net purchase of foreign capital has exceeded 10 billion yuan in October. Since the third quarter, the amount of debt held by foreign institutions has maintained rapid growth, of which nearly 2000 billion yuan was increased in October, and it is expected that the increase in holdings is expected to reach 10 billion yuan in November.
The positive trend of the private economy continues to be stable
In the first 10 months of this year, the import and export of private enterprises denominated in RMB increased by 6.2 percent, 6.2 percentage points faster than the growth rate of total import and export, accounting for 53.1 percent of total import and export, an increase of 3.1 percentage points over the same period last year, becoming a prominent bright spot in stabilizing foreign trade. At the same time, private investment in the secondary industry maintained a relatively rapid growth. After deducting real estate development investment, private investment grew rapidly, with a year-on-year increase of 10.9% in the first 1 months. According to data from the People's Bank of China, the balance of loans to privately held enterprises at the end of the third quarter was 41.3 trillion yuan, a year-on-year increase of 10.9%, an increase of 2.6 percentage points from the end of the previous year. At the end of September, the balance of inclusive small and micro loans increased by 9.24% year-on-year. On the whole, the development of the private economy has shown a basic trend of steady progress and steady improvement, and the role of private enterprises in promoting economic recovery has been further demonstrated.
Ministry of Finance: Increase and adjust the investment scope of the national social security fund
Today (December 12), the "Measures for the Administration of Domestic Investment of the National Social Security Fund (Draft for Comments)" was released to the public for comments. In terms of investment scope, the National Social Security Fund can invest in 6 types of products and instruments such as treasury bonds, corporate bonds, and stocks. At present, the maximum investment ratio of stock and equity assets can reach 11% and 40% respectively, which further improves the investment flexibility of the national social security fund and is conducive to continuing to support the development of the capital market.
Ministry of Industry and Information Technology: 2030G commercial use will be achieved around 6
China will accelerate the R&D and innovation of 6G technology, and achieve commercial use around 2030. The Ministry of Industry and Information Technology (MIIT) has guided the establishment of a 6G promotion group to provide policy guarantees for 6G innovation and development, and to promote the formation of a unified 6G global standard. China began to carry out 6G technology test work last year, and this year has successively carried out research on 6G system architecture and technical solutions. On December 12, China's 5G promotion group released relevant technical solutions, which will provide a technical path for 6G to move from the Internet of Everything to the Intelligent Connection of Everything.
China has successfully launched a satellite Internet technology test satellite
At 3:24 a.m. Beijing time today, China's Taiyuan Satellite Launch Center successfully launched the satellite Internet technology test satellite using the Jielong-2 carrier rocket in the waters near Yangjiang, Guangdong, and the satellite successfully entered the predetermined orbit, and the launch mission was a complete success. This mission is the second flight of the Jielong-<> carrier rocket, and it is also the first application launch mission after the successful first flight of Jielong-<> last year.
The world's first fourth-generation nuclear power plant was officially put into operation
Today, China's major national science and technology project with completely independent intellectual property rights and the world's first fourth-generation nuclear power plant, Huaneng Shidaowan high-temperature gas-cooled reactor demonstration project, has been officially put into commercial operation in Rongcheng, Shandong.
The main body of Asia's first cylindrical "offshore oil and gas processing plant" was completed
CNOOC Limited announced today that the first cylindrical "offshore oil and gas processing plant" in Asia, the "Offshore Oil 122" floating production, storage and offloading unit, independently designed and built by China, has completed the main construction in Qingdao, marking the high-level autonomy of the design and construction technology of all types of floating production, storage and offloading units in China. "Offshore Oil 122" is planned to be completed in the first half of 2024, and will be in service with the Liuhua Oilfield in the Pearl River Estuary Basin, providing a new option for the economical and efficient development of deepwater oil and gas fields in China.
The Jingxiong Bridge, a control project for the Jingxiong Expressway, was completed today
This morning, with the installation of the bridge expansion joint and the completion of the last section of the beam landscape painting, the construction of the Jingxiong Bridge, a control project of the Jingxiong Expressway, was completed, and the construction of the Beijing section of the Jingxiong Expressway entered the final sprint stage. As a major transportation project of the Beijing-Tianjin-Hebei coordinated development strategy, the Beijing-Xiong Expressway is expected to be opened to traffic by the end of this year.
The Hangzhou Asian Games and the Asian Para Games achieved carbon neutrality for the first time in the history of the Asian Games
Today, the Hangzhou Asian Organizing Committee and the Asian Paralympic Organizing Committee announced that the Hangzhou Asian Games and the Asian Paralympic Games emitted a total of 88,29 tons of greenhouse gases after authoritative accounting and evaluation certification. Up to now, the Hangzhou Asian Organizing Committee has received donations from all walks of life with a carbon offset target of 109.99 million tons, which exceeds the total amount of emissions, achieving carbon neutrality for the first time in the history of the Asian Games and the Asian Paralympic Games.
The number of college graduates in 2024 is expected to reach 1179.<> million
According to the Ministry of Education and the Ministry of Human Resources and Social Security on December 12, the number of college graduates in 5 is expected to reach 2024.1179 million, an increase of 21,<> year-on-year. The two departments proposed that colleges and universities in all localities should accelerate the implementation of various employment promotion policies, deepen the publicity and implementation of employment promotion policies, and optimize the recruitment arrangements for policy-based positions.