A slight year-over-year dip in China's producer price index (PPI) in September comes as no surprise for the season, said a Beijing-based expert on Sunday.
The country's PPI, which measures costs for goods at the factory gate, edged down 2.8 percent year on year in September, the National Bureau of Statistics said Sunday. China's consumer price index (CPI), a main gauge of inflation, was up 0.4 percent year on year in the same month.
Liu Zhiqin, a senior fellow at the Chongyang Institute for Financial Studies, Renmin University of China, shared his insights with China Global Television Network (CGTN) on the latest data in terms of China's economic performance in the past nine months.
"The CPI and PPI figure in September is within our expectation because there's no big surprise, as we know that September is a very special season just after the long holiday and also the summer holiday of the school. So from the CPI, they have some difficulties to get improved because of the seasonal reasons, and we can see from the year-on-year around 0.4 percent, but with the previous month it's comparatively stable, the same. So we can say these are the main factors that from the food industry, the food supply chain, the vegetables, eggs and also other supply and products, livelihood is quite stable. From this way that we can see the quality of the people's life has not big influenced by this effect," said Liu.
"But the PPI we can see from the doubling compared with the last month or year-on-year, from two figures, dropped slightly because of the external situation and domestic demand in the real economy, so we can see 0.6 percent from the previous months PPI and from the last year we can say a 2.8 percent drop. So from the supply chain, we can see some factors that influence this PPI. We have to have more positive and supportive policies to support the manufacturing side in order to improve the amount in the industry, especially in the real economy. So from the CPI, we are very satisfied, but because that we don't have to worry about so-called deflation or even inflation, so we are still at a very safe pace of the development," he said.
During the past days, the central government including the Ministry of Finance and the other departments have intensified meetings and rolled out more preferential policies to stimulate the economy.
Liu highlighted two key reasons officials felt the need to implement the policies. Firstly, with just three months left in the year, time constraints demand an immediate escalation of government policy support. Secondly, in the face of the intricate global scenario fraught with uncertainties and challenges, there exists a critical requirement for bolstered policy measures to effectively tackle these challenges.
"For short term that the period is that we have to intensify all efforts to stimulate our economy in order to realize our yearly target of GDP, we have only three months [left in this year], but the pressure is there and also uncertainties there. So we are have to. We now under some pressure to have more policies to support this economic development. So this is a combination for the short term but also for the long term, because we have to prepare for the beginning of next year. We have to use all these policies available in order to create favorable conditions and forecast for the next year, because we should not leave any new pressure till next year. So that's why we have to try our best to do all necessities to stimulate our policy, especially for our economic development in the last three months," the analyst said.
Chinas latest price index numbers fall within expectations: economist
China is accelerating efforts to build low-altitude infrastructure, with new takeoff and landing facilities, communication networks, and digital systems being constructed in key cities to facilitate the development of this rapidly growing sector.
Low-altitude economy refers to the economic activities and industries centered around manned and unmanned aerial vehicles operating in the airspace usually within 1,000 meters above the ground.
In southern tech hub of Shenzhen, a newly operational rooftop helipad is a key part of the city's push to expand its low-altitude economy. Originally built for fire safety, the helipad has been repurposed with plans for a new aerial sightseeing route in the surrounding area.
"We've estimated the investment, and it's relatively modest since the foundational infrastructure is already in place. The costs will likely be in the range of a few million yuan. If rooftop helipads are connected, it could create an aerial transportation network that links different buildings together," said Kuang Hu, vice chairman of Guangdong Yuehai Land Group.
Shenzhen aims to complete over 1,200 low-altitude facilities by 2026, with the local government offering subsidies of up to 2 million yuan (over 270,000 U.S. dollars) per project. These efforts are part of a broader strategy to create a seamless low-altitude infrastructure ecosystem that integrates airspace management, flight paths, and services.
"By the end of 2026, the district aims to complete 100 low-altitude infrastructure projects," said Chen Wenlei, deputy director of the Development and Reform Bureau of Luohu District, Shenzhen.
"We are in the process of establishing a comprehensive network that includes infrastructure, airspace management, flight paths, and services. By integrating these four key networks into a unified low-altitude standard system, we aim to promote the seamless opening and integration of low-altitude airspace infrastructure and systems," said Cheng Tao, executive secretary of the Shenzhen Low-altitude Economy Industry Association.
In Shanghai, the East China UAV Base has been approved for testing new drones, technologies, and services within a 1,370-square-kilometer airspace. A newly deployed 5G base station at the base offers both communication and radar-like sensing capabilities, essential for managing low-altitude airspace.
"Currently, the station covers a radius of several kilometers, offering crucial data such as the aircraft's latitude, longitude, altitude, speed, and other key metrics. Once airborne, all types of aircraft require communication. For those flying below 300 meters, we can provide tailored coverage for their flight paths," said Du Yanyan, deputy general manager of the Planning and Technology Department at China Mobile Shanghai.
Experts say that technologies like 5G and the BeiDou navigation system are essential to supporting China's low-altitude infrastructure. However, they emphasize the need for network interoperability to address challenges as drones and aircraft transition between regions.
"The low-altitude communication and sensing networks being developed in various regions each follow different technical approaches. For example, when a drone travels from Area A to Area B, it must switch networks, and addressing these challenges promptly is crucial," said Du Jiadong, head of the network and application group at the Low-altitude Economy Research Center, China Academy of Information and Communications Technology (CAICT).
The Civil Aviation Administration of China estimates that the country's low-altitude market will soar from 500 billion yuan in 2023 to 1.5 trillion yuan in 2025 and as much as 3.5 trillion yuan in 2035.
This year, for the first time, the term "low-altitude economy" was included in the Chinese government's work report, signifying an official endorsement that has emboldened numerous cities.
Infrastructure networks rapidly taking shape to boost low-altitude economy
