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China makes progresses in high-quality development in H1

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      China

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      China makes progresses in high-quality development in H1

      2024-08-02 11:18 Last Updated At:15:37

      China has made significant strides in high-quality development, with domestic consumption and foreign trade maintaining stable growth, according to the Ministry of Commerce on Friday.

      Speaking at a press conference in Beijing, Li Yongjie, Deputy International Trade Representative of the Ministry of Commerce, outlined the progress in four areas -- domestic consumption, foreign trade, foreign investment, and international economic and trade cooperation.

      In terms of domestic consumption, Li highlighted the effectiveness of trade-in policies and the growth in service consumption.

      "In the first half of 2024, total retail sales of consumer goods reached 23.6 trillion yuan (about 3.26 trillion U.S. dollars), marking a 3.7 percent increase year on year. As of 9:00 on Friday, the number of applications for subsidies for the scrapping and renewal of old cars had topped 450,000, and the retail volume of New Energy Vehicles (NEVs) increased by 33.1 percent year on year. Besides, the service consumption sector saw relatively rapid growth in the first half of the year, with retail sales and income from catering registering 7.5 percent and 7.9 percent increase year on year respectively," Li said.

      Li noted that new drivers in foreign trade have been cultivated at a fast pace.

      "In the first half of the year, the imports and exports of goods reached 21.2 trillion yuan (about 2.93 trillion U.S. dollars), a 6.1 percent increase year on year. The imports and exports of services reached 3.6 trillion yuan (about 500 billion U.S. dollars), a 14 percent increase year on year. Together, the imports and exports of goods and services contributed 13.9 percent to economic growth in the first half of 2024. New drivers in foreign trade have been nurtured rapidly. In the six-month period, exports of cross-border e-commerce maintained fast growth, with the export of advantageous products such as vessels and vehicles witnessing relatively high growth. The results of a research by the Ministry of Commerce on 16,000 major foreign-invested operators show that over 70 percent have projected growth for the whole year," she said.

      Li also highlighted significant strides in foreign investment and international economic and trade cooperation.

      "In the first half of this year, 27,000 new foreign-invested companies were established, with actual use of foreign investment totaling 498.9 billion yuan (about 68.99 billion U.S. dollars). The structure of investment attracted into China has kept improving, with foreign investment in high-tech manufacturing increasing by 2.4 percentage points compared to the same period of last year. Foreign investment cooperation also saw significant growth. Direct investment in the foreign non-financial sector reached 516 billion yuan (about 71.35 billion U.S. dollars), a 19.5 percent increase year on year, while the turnover of foreign contract engineering reached 513.3 billion yuan (about 70.98 billion U.S. dollars), marking a 4.7 percent increase over the same period of last year," Li said.

      China makes progresses in high-quality development in H1

      China makes progresses in high-quality development in H1

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      People across China make preparations to welcome Spring Festival

      2025-01-21 06:41 Last Updated At:07:17

      A festive atmosphere is building up as people across China have been making preparations to ring in the Spring Festival next week, with lights and decorations set everywhere, and with New Year goods markets all seeing booming sales.

      The Spring Festival, which marks the start of the Chinese Lunar New Year, is the most important annual holiday in China, when people across the country return to their hometowns for Chinese Lunar New Year celebrations and family reunion. 

      In Xi'an City of northwest China's Shaanxi Province, a grand lantern show is in its final stage of preparation before opening to the public ahead of the eve of the 2025 Chinese Lunar New Year. To be lit up on Wednesday, the large light sets presented at the event will draw numerous visitors, with lanterns that replicate 38 cultural relics as the highlight.

      Buying New Year flowers has been a custom for Chinese people. In Yancheng City of east China's Jiangsu Province, various flowers which have auspicious meanings are already in high demand.

      This year, tulips bred locally have been put on sale, and quickly become a favorable choice for many customers.  

      "I have never seen this kind of flower before. I think it is really bright-colored. Therefore, I decided to buy some to enhance the festive atmosphere at home," said Zhang Jinjian, a local resident.

      The Anchang ancient town in Shaoxing City of east China's Zhejiang Province has a time-honored custom of making aired sausages and spiced duck.

      As the Spring Festival draws near, plenty of visitors and tourists choose to purchase these local delicacies as ingredients for their Chinese New Year feast.

      "The number of tourists has been increasing, so the sales of our spiced meat have been quite good. Compared with the same period of last year, our sales is expected to increase by about 50,000 yuan (about 6,835 U.S. dollars). We will earn an additional 200,000 to 300,000 yuan (27,335 to 41,000 U.S. dollars) in sales during this whole winter," said Yang Jing, owner of a local spiced meat shop.

      In southwest China's Yunnan Province, the "Tiaocai dance" is a time-honored tradition of the Yi ethnic minority group. The dance is presented in the form of serving dishes while dancing to the rhythm. It usually happens on a joyous or grand occasion.

      Since the most significant annual festival is around the corner, Yi people have dressed up in traditional costumes, and got ready to welcome the arrival of the Chinese Lunar New Year with the special dance.  

      People across China make preparations to welcome Spring Festival

      People across China make preparations to welcome Spring Festival

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