China's consumer price index (CPI), a main gauge of inflation, rose mildly by 0.3 percent year on year in the first nine months of the year, the National Bureau of Statistics said Sunday.
The overall three-quarter increase of the index was higher than that of the same period last year, according to official data.
In the period, food prices dropped by 1.2 percent year on year, while nonfood prices went up 0.6 percent year on year.
Zhang Xuewu, director of the Analysis and Forecasting Department of Price Monitoring Center of the National Development and Reform Commission, attributed the CPI growth in the first three quarters mainly to price hikes of energy and services.
"In terms of energy prices, the international crude oil price has gone up and then down this year, with the average price in the first three quarters higher than that in the same period last year. This has led to the growth in domestic gasoline and diesel prices. The prices of catering, tourism and household services have increased to varying degrees as domestic demands pick up, driving the overall growth in services prices. Food prices continued to drop in the first half of the year due to ample supply and smooth links between production and sales. Since the beginning of the third quarter, food prices have gradually reversed the downturn, but the overall trend of the first three quarters is still negative," Zhang said.
In September, China's CPI remained flat month on month and rose by 0.4 percent year on year, which is slightly lower than the growth rate in August.
Experts said that with existing policies continuing to produce effect and new policies being rolled out at a faster pace, China's economic recovery is expected to gain stronger momentum in the last quarter of the year.
China's CPI rises mildly in first three quarters
Macao has been emerging as a global hub for conventions and exhibitions in recent years by exploring the enormous opportunities in the sector, driving the region to advance its economic diversification and embrace a brighter future.
Macao has received many awards this year, such as the Best Convention City (Asia) and the Best BT-MICE City, showcasing the recognition for and influence of Macao's exhibition industry.
More than 1,000 electronic game enthusiasts from all over the world gathered recently in Macao to participate in a esports themed event.
Su Zhili, organizer of the event, said that Macao's rich experience in hosting large-scale events, coupled with its good infrastructure, has driven him to choose the region as an ideal destination to hold such an activity.
"Macao has held many similar large-scale events. It has rich experience, and the facilities at the venue are relatively mature, so we can start our work comfortably," said Su.
During the first three quarters of 2024, Macao held more than 1,000 conferences and exhibitions in total.
"We will invite more professional, special conferences to be held in Macao and also cultivate more exhibition brands with international influence in Macao, so as to promote Macao's exhibitions to be more market-oriented, professional, international, digital and greener from various aspects. This is our goal," said Elaine Wong, member of the Macao Commerce and Investment Promotion Institute.
In addition, multiple large exhibitions and conferences, such as the Macao International Trade and Investment fair, the Macao Franchise Expo, and the International Infrastructure Investment and Construction Forum, are held regularly in Macao.
With the introduction of a series of policies and measures to facilitate the exchanges between the mainland and Macao, as well as the construction and development of the Guangdong-Hong Kong-Macao Greater Bay Area and the Guangdong-Macao In-Depth Cooperation Zone in Hengqin, Macao's convention and exhibition industry will embrace more opportunities for development in the foreseeable future.
"We have such a good industrial base in the Greater Bay Area. The mode of 'Convention and Exhibition + Industry' not only integrates the industries of Macao, but also the industries of the Greater Bay Area. In addition, Macao actively integrates into the national development and plays a role in the Belt and Road. Why are we so confident in Macao's convention and exhibition sector? Because it is backed by the motherland, and the country gives Macao great support," said Alan Ho, chairman of the Macao Association of Convention, Exhibition and Tourism Sectors.
Macao emerges as global hub for conventions and exhibitions, driving economic diversification and international recognition
