China remains the biggest engine of global growth.
In 2023, China’s economic growth rate will remain ahead of the world’s major economies, contributing 32% to global economic growth, and it will remain the largest engine of global growth. As China’s economic growth exceeds expectations, the International Monetary Fund (IMF) recently raised the growth forecast of China’s economy and emerging Asian economies in 2024. International financial institutions such as Goldman Sachs and UBS are optimistic about China’s economic development prospects. China’s economic competitive advantage still exists, and China will remain the main contributor to global economic growth this year.
In its latest World Economic Outlook Report, the International Monetary Fund said that due to the resilience of major economies such as China, it raised its global economic growth forecast by 0.2 percentage points to 3.1% this year. The overall economic growth rate of emerging Asian economies is expected to reach 5.2% this year, 0.4 percentage points higher than the forecast in October last year. The International Monetary Fund predicts that China’s economic growth will be 4.6% in 2024, 0.4 percentage points higher than the forecast in October 2023.
In January, newly established foreign-funded enterprises nationwide increased by 74.4% year-on-year.
According to the data released by the Ministry of Commerce on February 23rd, in January 2024, the actual amount of foreign investment in China was 112.71 billion yuan, and 4,588 foreign-invested enterprises were newly established nationwide, up 74.4% year-on-year. From the perspective of industry, the actual use of foreign capital in manufacturing industry was 33.11 billion yuan, an increase of 20.5%, of which the actual use of foreign capital in high-tech manufacturing industry increased by 40.6%. High-tech industries accounted for 34.7% of the actually used foreign capital.
January data of CCTV Finance China Financial Index was released.
On February 23rd, the first monthly index in China reflecting the real-time situation of China’s financial operation — — The latest data of CCTV Finance China Financial Index in January has been released, and many sub-market financial indicators have performed brilliantly.
The latest monthly financial sub-indicators released by CCTV Finance China Financial Index show that the financial indicators of non-bank financial intermediaries soared by 64.25% year-on-year, and the financial indicators of bond market increased by 15.74% year-on-year. According to expert analysis, the financial indicators of non-bank financial intermediaries are the fastest growing in all financial fields, which reflects the activity of non-traditional financing institutions and the high market demand for their services; The bond market has also shown strong growth, which indicates that investors may seek bonds as a sound investment choice in an uncertain market environment.
Local tax authorities "don’t close" during the Spring Festival.
According to the relevant person in charge of State Taxation Administration of The People’s Republic of China, during the Spring Festival holiday, local tax authorities launched the "no-closing" service for tax payment during the Spring Festival, and continued to carry out the "Spring Breeze Action for Facilitating Taxes" to help economic development.
During the Spring Festival, the theme activities of "Spring Man’s Hometown in Central Plains, Henan" were carried out in various parts of Henan, and the tax authorities followed up the services to help the "Spring Festival economy" heat up. Shaoguan City, Guangdong Province, through the "tax benefits" and "service" dual engines, so that "specialization and novelty" new quality productivity is launched at full speed. Guizhou Bijie supports import and export trade through tax policies and promotes more high-quality agricultural products to go abroad.
China manned lunar exploration mission officially confirmed the name of the new aircraft, and all the work was progressing smoothly.
On February 24th, China Manned Space Engineering Office announced that the name of the new spacecraft for China manned lunar exploration mission had been confirmed, and the new generation manned spacecraft was named "Dream Boat" and the lunar lander was named "Landing on the Moon". It is planned that Chinese will land on the moon for the first time before 2030. At present, all works of the project are progressing smoothly.
China successfully launched the communication technology test satellite 11.
On the evening of February 23, China used the Long March 5 remote seven carrier rocket at Wenchang Space Launch Site to successfully launch the communication technology test satellite No.11, and the satellite successfully entered the scheduled orbit. The satellite is mainly used to carry out multi-band and high-speed satellite communication technology verification.
Railways, highways, etc. will usher in the peak passenger flow of the Lantern Festival. On February 24th, the national railway is expected to send 13.3 million passengers. Railway stations all over the country are welcoming large passenger flows, and passenger trains are added to maximize the capacity. According to the monitoring data of the Ministry of Transport, from the first day of the first month to the thirteenth day of the first month, the total traffic volume of road vehicles reached 657 million. With the end of the Lantern Festival, it is expected that there will be a small return peak of the national expressway on February 25th. This year, the passenger flow of civil aviation in Spring Festival travel rush increased significantly compared with last year. As of the Lantern Festival, the domestic passenger traffic in Spring Festival travel rush exceeded 56 million, up nearly 40% (36%) year-on-year. At the same time, the number of flights also reached about 400,000, a year-on-year increase of about 20% (19%).
Since the 24th, 253 special trains for students have been added to the national railways.
The reporter learned from China State Railway Group Co.,Ltd. that the railway will usher in the peak passenger flow of students returning to school in the near future. From February 24 to March 5, it is planned to open 253 special trains for students. The newly added train tickets can be reserved in the "Special Service for Students’ Winter Holiday Booking" area of the railway 12306.
Xi’ an Qingdao can issue a "personal travel endorsement" to and from Hong Kong and Macao.
The Exit-Entry Administration of People’s Republic of China (PRC) has decided to issue "individual travel endorsements" to and from Hong Kong and Macao for qualified personnel in Xi ‘an and Qingdao from March 6, 2024. Resident and residence permit holders in Xi ‘an and Qingdao can submit their applications at the artificial window of exit-entry management of public security organs in Xi ‘an and Qingdao or the intelligent endorsement equipment installed at the artificial window, and choose to apply for "individual travel endorsement" or "group travel endorsement" by themselves. "Personal Travel Endorsement" includes three-month endorsement, three-month endorsement, one-year endorsement and one-year endorsement; Go to Macao for endorsement once every three months and once a year. The holder of the endorsement can stay in Hong Kong or Macao for no more than 7 days at a time.
The key business districts of Lantern Festival are expected to usher in a small peak of passenger flow.
The Lantern Festival on February 24th coincides with the weekend, and the national key business districts are expected to usher in a small peak of passenger flow. According to the forecast of China Mobile’s Wutong Big Data, on the Lantern Festival, the passenger flow of key business districts in China will reach nearly 27 million, an increase of nearly 8 percentage points over the same period last year. Among them, Jie Fangbei in Chongqing, Confucius Temple Pedestrian Street in Nanjing, Tianhe Road Business Circle in Guangzhou, Shenyang Middle Street and Wangfujing Street in Beijing will become the most popular night tours in this year’s Lantern Festival.