The State Council, China’s cabinet, has released the Report on the Implementation of the National Economic and Social Development Plan Since the Beginning of this Year at the fifth session of the Standing Committee of the 14th National People's Congress held in Beijing from August 28th to September 1st.
The report points out that since the beginning of this year, China has recorded an overall good performance in implementing the plan, with the national economy continuing to show recovery and overall rebound. In the second half of the year, China will increase its macroeconomic policy regulation efforts, focus on expanding domestic demand, boosting confidence, preventing risks, and promoting the effective improvement of quality and reasonable growth of quantity in the economy.
According to the report, in the first seven months, China opened 19.102 million stock operating entities, including 5.791 million enterprises, with a year-on-year increase of 12% and 15.6%, respectively.
China has fully implemented the reform of the stock issuance registration system, with a total of 210 companies going public through initial public offerings in the first seven months, raising 247.9 billion yuan.
China reported a stable development of foreign trade and foreign investment, and further promoted the stability, scale, and structure of foreign trade by holding the Spring Canton Fair, Consumer Expo, and China Central and Eastern European Countries Expo, and launched special actions to promote trade facilitation. In the first seven months, China recorded a year-on-year increase of 1.5% in exports of goods, including electric passenger cars, lithium-ion batteries, and solar cells, with a total increase of 52.4%.
China also recorded a rapid growth in knowledge intensive service trade, and a significant recovery in travel service trade with service import and export increasing by 8.5% year-on-year in the first half of the year.
China has promoted the implementation of iconic foreign investment projects, held a series of international industrial investment cooperation activities and the "Investment in China Year" investment promotion activities with FDI remaining basically stable.
The report shows that China has continued to promote the joint construction of "the Belt and Road", consolidated and expanded practical cooperation with key co-construction countries and international organizations, and further strengthened risk prevention and control. In the first seven months, China recorded an increase of 7.4% in imports and exports with countries along "the Belt and Road", and 13% and 27% respectively in the number of China-EU freight trains and freight shipments.
