China-ASEAN:Tightening Industrial Cooperation and Integrated Supply Chains

China and ASEAN countries are geographical neighbors and share a similar culture.In recent years,the bilateral trade between China and ASEAN countries has been growing continuously.The latest data from the General Administration of Customs shows that the bilateral trade between China and ASEAN has increased from RMB 876.38 billion in 2004to RMB 6.41 trillion in 2023,with an average annual growth rate of 11%,which is 3 percentage points higher than the overall growth rate of China's foreign trade during the same period.

By Deepening Regional Cooperation,the CCPIT Serve as a Bridge for Foreign Investment

On June 28,t he China Council for the Promotion of International Trade(CCPIT)held its regular monthly press conference in Beijing.Spokesperson Zhao Ping introduced China’s latest progress and policy trends in terms of attracting foreign investment,regional cooperation and supporting Chinese brands at the meeting.

With Growth in Birth Population,Maternity and Children's Market Picks Up

In recent years,China's birth population has continued to decline,causing concern from all walks of life.However,data for the first half of2024 show a slight recovery in the number of births in some regions,a phenomenon that has brought new vitality to the maternity and children's market.Although this rise may be a short-term"spring",it has injected hope into related industries.

China Expands Opening-up in Medical Field

Against the backdrop of China's sustained economic opening-up,the reforms in the medical field have also ushered in a new milestone.Recently,the Ministry of Commerce,the National Health Commission,and the National Medical Products Administration jointly issued a policy,announcing that the pilot work of expanding opening-up in the medical field will be carried out.This includes plans to allow for the establishment of wholly foreign-owned hospitals(excluding those specializing in Chinese medicine and mergers and acquisitions of public hospitals) in nine places including Beijing,Tianjin,Shanghai,Nanjing,Suzhou,Fuzhou,Guangzhou,Shenzhen and Hainan Island.The introduction of this policy,like a stone thrown into a serene lake,has aroused widespread discussion both inside and outside of the medical industry.

Outbound Travel is Heating Up During Summer Vacation

Since the second half of 2023,China have initiated mutual visa-free policies for outbound tourism with such countries as Singapore,Malaysia,Thailand and Georgia.With the continuous advancement of these visa-free policies,the list of outbound tourist destination countries is constantly expanding.During this summer vacation in particular,outbound tourism is gaining popularity.

Explore the Magic of Shanxi Province with Wukong

China's first triple-A video game "Black Myth:Wukong" has not only made waves in the global gaming industry,but has also brought the allure of Chinese culture to the world stage.Inspired by the classic novel"Journey to the West",the game was filmed at 36 scenic spots in China,with up to 27 of these locations being in Shanxi Province.

AIPPI World Congress Held in China for the First Time

The CCPIT (China Council for the Promotion of International Trade) held its regular press conference for September on September 29.Wang Linjie,Spokesperson of the CCPIT,released the Global Economic and Trade Friction Index for July and the National Trade Promotion System Business Certification Data for August.Wang Linjie introduced the preparations for the AIPPI (Association Internationale pour la Protection de la Propriete Intellectuelle) World Congress to be held in China for the first time,and also introduced the exhibition facilitation measures and policies for the second China International Supply Chain Expo.

China Intensifies Monetary Policy Adjustments and Boosts Market Confidence

On September 27,the People's Bank of China (hereinafter referred to as the"central bank") announced that,from September 27,2024,the RRR (required reserve ratio)of financial institutions would be lowered by 0.5 percentage points (excluding those that are subject to an RRR of 5%).The weighted average required reserve ratio for financial institutions is about 6.6% after this cut.At the same time,the central bank also announced that from September27,the interest rate for 7-day reverse repo operations in the open market will be adjusted from1.70%to 1.50%.

"China and Africa Can Create Amazing Value"——Interview with Mehdi Laraki,President of the Morocco Chinese Business Council

"hina and Africa can create amazing value,because Africa or Morocco and China have a lot of common points,and the 2024Summit of the Forum on China-Africa Cooperation (FOCAC) can make the relationship between Africa or Morocco and China even stronger."In an interview with China's Foreign Trade,Mehdi Laraki,President of the Morocco-China Business Council said,"I've been here (China)more than 65 times,but I always feel like a child every time,it's just like a miracle.

The Transition Towards New Energy Accelerates

China’s foreign trade has been facing tremendous pressure since 2023.The export of the“old three”,including clothing,furniture and household appliances,has been declining,while the export of the“New Three”,represented by electric vehicles,lithium-ion batteries and solar cells,has been increasing against the trend,outperforming other type of exports.

The Big Health Industry is on the Rise

With the expansion of consumption scenarios,the increase in the supply of products and services,and the gradual improvement of top-level design,even more professional health-related consumption will emerge,becoming an important engine for future economic development.

China-Arab Cooperation Ushers in Another Highlight

This year marks the 20th anniversary of the China-Arab States Cooperation Forum(CASCF),and the tenth Ministerial Meeting of the CASCF was held in Beijing at the end of May,ushering in another highlight for China-Arab cooperation.

Policies Aiming at Stabilizing Foreign Trade Continue to Work

On May 30,t he Ch ina Council for the Promotion of International Trade(CCPIT)held a regular press conference.Zhao Ping,the spokesperson for the CCPIT,said that since the beginning of this year,the number of issued ATA Carnets has increased significantly,reflecting the fact that China’s foreign trade policy portfolio is taking effect,foreign trade enterprises have been more active,and their motivation and enthusiasm for expanding the international market have continued to rise.

"Australian Companies Remain Committed to the China Market"——Exclusive Interview with David Olsson,President and Chairman of Australia China Business Council

This year marks the10th anniversary of the establishment of the comprehensive strategic partnership between China and Australia,and the development of bilateral relations are getting back on the right track.Recently,David Olsson,President and Chairman of the Australia China Business Council,stated his comments,when accepting an exclusive interview with China's Foreign Trade.

Ensure the Stability and Smoothness of Global Supply Chain

In 2024,the world economy still faces many uncertainties,and it is likely that the geopolitical economy and global security tensions are likely to continue to intensify;although the global inflation rate is declining,it is still at a high level;the global debt crisis has risen sharply;in particular,the risk of decoupling and chain breakage of the industrial chain and supply chain still exists.

"New Quality Productive Forces to Bring Greater Opportunities for Us"——Interview with Jakob Stausholm,CEO of Rio Tinto

"China is hugely important for Rio Tinto as this is the place where we have our biggest customers,our biggest shareholders,and almost 60%of our revenue stems from sales in China."Rio Tinto,the world's largest iron ore producer,has had more tieups and joint ventures with Chinese partners than anyone else.When interviewed by China's Foreign Trade.

Domestic Films and TV Dramas “Shining” Overseas

In recent years,Chinese films and TV dramas“going global”has become an important cultural phenomenon.The films and TV drams are released not only in Asia and Africa,but also in the European and American markets through international streaming platforms.The genres of domestic TV series“going abroad”are becoming increasingly diverse,and the channels and platforms are also becoming more diversified.

The Ice-Snow Industry Heated Up the Winter

This winter witnessed the popularity of cities in Northeast China,especially Harbin.People’s enthusiasm for the ice and snow grew,and more and more people started to focus on and engage in the ice-snow industry.At the ski resort,skiing enthusiasts from all over the country wear goggles and sprint down slopes on their snowboards.

Smart Vehicles Contain Huge Market Opportunities

With the deep integration of technologies such as the Internet,big data,artificial intelligence,and 5G into the automotive industry,the relationship between people and vehicles has fundamentally changed,shifting from humans taking the dominant position and the vehicle acting as the supplement to the vehicle being in the dominant position and the human as supplement.Such a change creates a lot of technological innovations and market opportunities,especially in terms of the radical changes brought about by non-traditional auto companies such as Huawei and Xiaomi which have started the new phase of the global auto revolution.

China Seeks to Grab Opportunities Brought about by the Low-Altitude Economy

Since the inclusion of the low-altitude economy in the government work report during the National People’s Congress and the Chinese People’s Political Consultative Conference in March,many cities have sought to enter this area first to seize the benefits of the low-altitude economy.According to incomplete statistics,17 provinces(municipalities,autonomous regions)in China have currently written the low-altitude economy into their 2024 government work report.In addition,cities such as Shenzhen,Guangzhou,Chengdu,Suzhou,Zhuhai,and Ganzhou have also included the low-altitude economy in their government work reports.More than 20 provincial and municipal governments,represented by Shenzhen,Hefei,Guangzhou and Chengdu,have introduced also policies to support the development of the low-altitude economy and its business ecosystem.