Asia-Business

News from China

China's greater opening-up boosts confidence of global consumer products industry

27th July 2022

Profits of China's major industrial firms rose 1 percent year on year in the first half of 2022, official data showed on Wednesday.

Industrial firms each with annual main business revenue of at least 20 million yuan (about 2.95 million U.S. dollars) saw their combined profits exceed 4.27 trillion yuan in the period, the National Bureau of Statistics said.

Source: Xinhua

China's greater opening-up boosts confidence of global consumer products industry

26th July 2022

The second China International Consumer Products Expo (CICPE) opened Monday on the resort island of Hainan, presenting a unique platform for global consumer products companies to access the Chinese market.

With a larger exhibition area, more participating brands, and a special focus on new and quality products, the expo remains the largest consumer boutique exhibition in the Asia-Pacific region.

The global platform of displaying and trading high-end consumer products showcases China's pledge of a higher level of opening-up. It proves a pivotal confidence-booster as the pandemic is still raging across the world and China's consumer spending gradually recovers after the impact of COVID-19 outbreaks.

Source: Xinhua

China Development Bank ups loan support for environmental protection

25th July 2022

China Development Bank, one of the country's policy banks, issued 126.2 billion yuan (about 18.69 billion U.S. dollars) of loans to support environmental protection and pollution treatment in the first half of 2022.

Of the total, 37 billion yuan of loans were used to finance sewage and garbage treatment in county-level regions.

So far, the bank has extended 100.3 billion yuan of loans to support the building of garbage and sewage treatment facilities in over 200 counties.

The bank said it will step up financial support to promote low-carbon development and contribute to the building of a beautiful China.

Source: Xinhua

China's grain production expected to remain stable in 2022

21st July 2022

China is expected to see stable grain production this year, despite challenges including rare autumn floods last year, sporadic resurgences of COVID-19 cases and drastic fluctuations in the global farm produce market, an agricultural official said Wednesday.

"China is witnessing a sound grain production situation this year," Liu Lihua, an official with the Ministry of Agriculture and Rural Affairs, said at a press conference.

The country saw its summer grain output increase by 1.435 billion kg this year and has harvested over 60 percent of its early rice.

China is expected to secure a bumper autumn harvest, Liu said, citing that the planting area has seen a steady expansion this year and the growth process of autumn grain crops is normal.

Autumn grain accounts for 75 percent of China's total grain output, while summer grain and early rice make up the rest.

Efforts will be made to strengthen farmland management, and enhance preparedness against weather-related disasters to secure a good autumn harvest, the official said.

China aims to ensure the full-year grain output in 2022 stays above 650 billion kg, according to this year's government work report.

Source: Xinhua

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