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News from China

China's property investment down 6.4 pct in January-July period

15th August 2022

China's investment in property development went down 6.4 percent year on year in the first seven months of 2022, data from the National Bureau of Statistics (NBS) showed Monday.

The total property investment in the period stood at 7.95 trillion yuan (about 1.18 trillion U.S. dollars), the NBS said.

Investment in residential buildings came in at 6.02 trillion yuan, down 5.8 percent year on year.

Commercial housing sales in terms of floor area totaled 781.78 million square meters, down 23.1 percent year on year. In value, the sales fell 28.8 percent to 7.58 trillion yuan.

The property development climate index compiled by the NBS came in at 95.26 points in July.

Source: Xinhua

China's machinery industry reports revenue growth in H1

10th August 2022

China's machinery industry registered steady expansion in revenue in the first half of the year, according to the China Machinery Industry Federation (CMIF).

The operating revenue of firms in the sector totaled 12.95 trillion yuan (about 1.9 trillion U.S. dollars) during the period, up 5.44 percent year on year, according to data from the CMIF.

The added value of the sector rose 0.7 percent year on year during the period, the data showed.

The federation attributed the expansion to a package of pro-growth measures since the beginning of the year.

The total export volume of the machinery industry also saw a year-on-year increase of 10.41 percent, showing the resilience of the sector, said Chen Bin, executive vice president of the CMIF.

Looking ahead, more efforts should be made to ensure solid implementation of the pro-growth policies, stabilize industrial chains and solve the difficulties facing enterprises, Chen said.

Source: Xinhua

China's advertisement industry logs robust growth in 2021

4th August 2022

China's advertisement industry registered rapid expansion in 2021, data from the State Administration for Market Regulation shows.

The combined business revenues of major companies and public institutions in the sector surged 20 percent year on year to approximately 1.18 trillion yuan (about 174 billion U.S. dollars) last year, exceeding 1 trillion yuan for the first time, according to the administration.

The index measuring the development of China's advertisement industry came in at 110.85, up 7.36 percent from the previous year, according to a report jointly released by the administration and the China Economic Information Service.

Online advertisements have taken a dominant position in China's advertisement market, with revenues increasing year by year. They have offered strong impetus in creating new markets and consumption forms, the data shows.

Source: Xinhua

China unveils plan to push green growth in industrial sector

2nd August 2022

China on Monday unveiled a plan to promote green growth in the industrial sector in a bid to help the country meet its carbon peak goal.

By 2025, the energy consumption per unit added value of industrial enterprises with an annual business turnover of at least 20 million yuan (about 2.96 million U.S. dollars) will decrease by 13.5 percent compared with 2020, according to a plan released by the country's Ministry of Industry and Information Technology, National Development and Reform Commission and Ministry of Ecology and Environment.

Efforts will be made to promote the optimization and upgrading of industrial structures, curb the blind development of low-level projects with high energy consumption and high emissions, and develop green and low-carbon industries, the plan noted.

By 2030, the proportion of vehicles powered by new energy and clean energy will reach about 40 percent of total new vehicles, and the carbon dioxide emission intensity of passenger cars and commercial vehicles will decrease by 25 percent and 20 percent respectively compared with 2020, according to the plan.

The plan said digital technologies will be further leveraged to empower the green and low-carbon transformation of the industrial sector, with a faster pace in the application and promotion of digital low-carbon solutions.

Source: Xinhua

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