Ministry of Industry and Information Technology: China is willing to work with Saudi Arabia to promote more achievements in cooperation between the two countries in the fields of new energy vehicles, aircraft, photovoltaics, and artificial intelligence
Jin Zhuanglong, Minister of Industry and Information Technology, met with Saudi Arabian Investment Minister Khaled Al-Falih in Beijing on the 10th. The two sides exchanged views on strengthening cooperation between China and Saudi Arabia in the field of industry and information technology. Jin Zhuanglong said that under the strategic guidance of the two heads of state, China and Saudi Arabia have made great progress in cooperation in the field of industry and information technology. China is accelerating the promotion of new industrialization, Saudi Arabia is rich in resources and has a vast market, and there is great potential for cooperation between the two sides. China is ready to work with Saudi Arabia to promote more achievements in cooperation between the two countries in the fields of new energy vehicles, aircraft, photovoltaics, artificial intelligence, etc., and jointly safeguard the security and stability of the global industrial chain and chain. Al-Falih said that Saudi Arabia attaches great importance to cooperation with China in the field of industry and information technology, and hopes that the two sides will continue to expand exchanges and cooperation in the future, actively carry out strategic docking, and achieve mutually beneficial and win-win development.
The head of the Department of International Affairs of the Ministry of Commerce interprets the protocol for further upgrading the China-Singapore Liberty Agreement
According to the Ministry of Commerce**, recently, China's Minister of Commerce Wang Wentao and Singapore's Minister of Trade and Industry Gan Jinyong signed the Protocol between the People's Republic of China** and the Republic of Singapore** on the further upgrade of the "Freedom Agreement" (hereinafter referred to as the "Protocol") on behalf of China and Singapore** respectively. The person in charge of the Department of International Affairs of the Ministry of Commerce said that the "Protocol" upgrades the original free trade agreement and related protocols, further improves the level of rules for the liberalization of service investment between the two sides, and adopts the negative list model to make commitments on service ** and investment opening. The Protocol consists of a preamble and six partial texts, as well as cross-border services** and a negative list for investment between China and Singapore. Among them, the six parts of the text are cross-border services**, investment, telecommunication services, digital economy cooperation, other provisions and general provisions.
The economy is expected to grow by about 5% next year
Luo Zhiheng, chief economist and dean of the research institute, said that the economy is expected to achieve growth of about 5% next year, and the main driving force will be the service industry, high-end manufacturing and infrastructure investment. Luo Zhiheng believes that in recent years, fiscal and monetary policies have continued to be coordinated, monetary policies have cooperated with fiscal bond issuance, debt reduction, monetary and financial policies to support real estate risk prevention, etc., and this pattern is expected to continue next year. According to the CICC report, next year's broad fiscal policy will be further increased on the basis of this year, and monetary policy will continue to play a structural role while using aggregate tools.
We will strengthen counter-cyclical and cross-cyclical macroeconomic policy adjustments, and continue to implement a proactive fiscal policy and a prudent monetary policy
The Political Bureau of the Communist Party of China held a meeting on December 8 to analyze and study the economic work in 2024. The meeting pointed out that next year, it is necessary to persist in seeking progress while maintaining stability, promoting stability through progress, establishing first and then breaking down, strengthen counter-cyclical and cross-cyclical adjustment of macroeconomic policies, and continue to implement a proactive fiscal policy and a prudent monetary policy. A number of experts believe that the tone of this meeting is positive, and under the general tone of "seeking progress while maintaining stability", it has put forward new requirements of "promoting stability with progress" and "establishing first and then breaking down". In 2024, we will continue to "intensify macroeconomic control", and macro policies will maintain continuity and stability, which will help improve social expectations and boost market confidence. GDP growth is expected to remain at 5 in 2024Around 0%, the endogenous growth momentum of the economy is expected to be further strengthened, and risks in key areas will be effectively prevented and resolved.
Policy, fundamentals, and capital resonate, and the capital market has received strong supportLooking forward to 2024, under the combined effect of policy efforts and reform efforts, experts believe that China's economy will continue to stabilize and rebound. Huang Wentao, chief economist of China Securities Construction Investment**, said that in 2024, U.S. interest rates and the U.S. dollar will peak and fall, the RMB will stabilize and rebound, and the external financial environment will improve. China's economic momentum has further transformed, and the replenishment of inventories and the recovery of profits are positive changes, and the GDP growth rate is expected to reach about 5% for the whole year. The momentum of steady growth has been enhanced, and monetary and fiscal policies have become more active. The marginal improvement in the fundamental and policy environment faced by A-shares can be more optimistic.
Economy: Social security investment should take into account safety and value-addedOn the one hand, safety is the first priority, we should adhere to prudent and steady investment and operation, improve the risk management system and internal control system, run risk management through the whole process of investment and operation, and effectively maintain safety. On the other hand, it is necessary to achieve the best value preservation and appreciation through effective investment and operation, and consolidate the wealth reserves in response to the aging of the population. At present, the external environment is complex and severe, the foundation for the domestic economy to rebound still needs to be consolidated, the global financial market is volatile, and the social security industry is still facing many risks and challenges to achieve value preservation and appreciation under the premise of ensuring safety. Only by standardizing investment behavior and improving investment operation and risk prevention and control capabilities can social security become bigger and stronger, better serve the implementation of national strategies, help the development of the capital market, and achieve safety and value preservation and appreciation.
The new energy is "good", and the first batch of large-scale base projects are ready for productionAs the top priority of China's new energy development during the "14th Five-Year Plan" period, the construction of large-scale wind power and photovoltaic bases focusing on deserts, Gobi and desert areas is accelerating. The reporter learned from the National Energy Administration on December 10 that at present, the first batch of large base projects have entered the peak period of production, the second batch of large base projects have started construction, and the third batch of large base projects are speeding up the preliminary work. Industry insiders believe that the promotion of the construction of large bases will bring significant increments to the development of new energy, and it is expected that the new installed capacity of wind power and photovoltaic power generation in China will exceed 200 million kilowatts in 2023. Considering the current production capacity and industrial chain costs, as well as favorable policy support, the development of new energy will be further accelerated in the future, and the evolution of new energy application scenarios represented by hydroammonia alcohol will be accelerated.
The number of new drugs under development in China ranks second in the world!It is speeding up the construction of a modern pharmaceutical industry systemThe 2023 China Pharmaceutical Industry Development Conference opened in Beijing, and the reporter learned at the conference that since 2021, the R&D investment of the whole industry in China's pharmaceutical industry has increased by 23% annually, innovative achievements in innovative drugs, high-end medical devices and other fields have been emerging, and the pharmaceutical reserve system has been continuously improved. In the next step, China will accelerate the construction of a modern pharmaceutical industry system and comprehensively improve the level of security.