Opinion

 

1. Solving the challenge between the supply and demand of resources with systematic thinking

  

Water, energy, and food are the fundamental strategic resources that human society relies on for survival and development, and bear on the national economy and people's livelihood. The recently held Political Bureau meeting of the Communist Party of China Central Committee proposed to focus on addressing the relationship between water, population, food, and energy, and promote the comprehensive green transformation of development mode. We need to ensure the basic resource supply for a large population and solve the supply-demand challenge between various resources with systematic thinking, so that the high-quality development and high-level security will reinforce each other. 

 

2. Record-high trade in services showing huge potential in development 

 

The scale of services trade has reached a new high thanks to the solid industrial support provided by China's service industry, the new momentum brought by the optimization of trade structure, and the fundamental driving force of deepening reform and opening up. With the implementation of more measures, China's global competitiveness in services trade is expected to be further elevated.

 

Policy

 

1. The China Securities Regulatory Commission (CSRC) released the implementation opinions on February 7 to promote the aggregation of factor resources towards major strategies, key areas, and weak links such as technological innovation, advanced manufacturing, green and low-carbon development, and inclusive people's livelihood projects.

 

2. China aims to enhance the resilience and security of its copper industrial and supply chains over the next few years, according to an implementation plan released by 11 government departments including the Ministry of Industry and Information Technology on February 11. China will strive to increase its copper ore reserves by 5 percent to 10 percent by 2027, and further improve the level of recycled copper utilization. The country will work to achieve breakthroughs in key technologies for the green and efficient development and utilization of copper resources, and enhance its high-end equipment manufacturing capabilities.

 

3. Chinese authorities announced on February 9 that the prices of on-grid electricity generated from new energy will be determined by market as the country pushes forward market reform of new energy electricity pricing. All on-grid electricity generated from new energy such as wind and solar power, whose prices have so far been fixed, will all enter the electricity market, according to a notice issued by the National Development and Reform Commission and the National Energy Administration.

 

Data

 

1. According to the General Administration of Customs, China's foreign trade reached a record high in 2024, with its total value reaching RMB 43.85 trillion, up 5 percent year on year. China is expected to remain the world's largest goods trading nation for the eighth consecutive year in 2024. 

 

2. The scale of Shanghai's artificial intelligence industry surpassed RMB 400 billion in 2024, with a year-on-year growth of over 7 percent, achieving the 14th Five-Year Plan target ahead of schedule, the Shanghai Municipal Commission of Economy and Informatization announced.

 

3. Since the launch of the BRICS special route on February 10, 2023, Xiamen Customs has supervised 474 round-trip flights on the route over the past two years, handling 33,200 tons of import and export goods. The route has also transported 31.36 million cross-border e-commerce parcels, according to Xiamen Customs.

 

4. China's main policies supporting sci-tech innovation and the development of the manufacturing industry saw tax cuts, fee reductions and tax refunds totaling RMB 2.63 trillion in 2024. These policies accelerated the cultivation of new quality productive forces and promoted the high-quality development of the manufacturing industry, according to the State Taxation Administration. 

 

5. US automaker Tesla's Megafactory in Shanghai began producing energy storage batteries on February 11. Up to 10,000 Megapack storage units are scheduled to be produced there annually, equal to around 40 gigawatt-hours of energy storage. The products will be supplied to global markets.

 

6. February 12 marked the 30th day of the Spring Festival travel rush. Data from the Ministry of Transport shows that from January 14, the first day of the travel rush, to February 12, the total inter-regional trips are estimated to reach 7120.2 million. 

 

7. On February 12, the spot gold price fell to USD 2,893.91 per ounce, dropping below the 2,900-US-dollar mark. Domestic gold prices also declined, with Chow Sang Sang's pure gold jewelry priced at RMB 880 per gram, down RMB 11 from RMB 891 the previous day.  

 

8. Nezha 2, China's box-office sensation, smashed through the key RMB 10 billion mark in ticket receipts on February 13, including presales and overseas revenue, signaling the vast potential of the domestic cinema industry.

 

9. According to China State Railway Group, in January, national railway fixed-asset investment reached RMB 43.9 billion, a year-on-year increase of 3.7 percent, indicating smooth progress in railway construction. 

 

10. The National Development and Reform Commission recently allocated RMB 5 billion from the central budget for the 2025 work-as-relief program, supporting 1,008 projects under the program, which was designed to bolster rural workers' financial standings via job opportunities. The program plans to employ 123,000 rural residents and other low-income groups, with labor remuneration over RMB 1.71 billion.