Top news of the week:

• China’s foreign trade value rises 9.9% to $4t

  October 24, 2022

  China’s imports and exports were valued 31.11 trillion yuan (US$4.29 trillion) in the first three quarters of the year, up 9.9 percent from a year ago, data from the General Administration of Customs showed on Monday. The exports increased 13.8 percent year-on-year to 17.67 trillion yuan, while the imports totaled 13.44 trillion yuan, rising 5.2 percent on a yearly basis.

• Self-employed ranks get big boost from latest Cabinet regulation

  October 25, 2022

  The State Council rolled out a major regulation update on Tuesday to promote the country’s 111 million self-employed businesses, which industry experts said will greatly boost confidence and resilience among private smaller businesses over the long term. According to the regulation that will take effect on November 1, 2022, greater supportive policies, including on taxation, finance, employment, digital development, and intellectual property protection, will be provided to self-employed households.

• Financial regulators meet to inject positivity to the market

  October 26, 2022

  China’s top financial regulators, People’s Bank of China (PBC), China Banking and Insurance Regulatory Committee (CBIRC), and the State Administration of Foreign Exchange (SAFE) held meetings on October 25 to release positive information to the real estate market, foreign exchange market, stock market, opening-up, macro policy and financial risk prevention. PBOC has made three moves to stabilize the exchange rate since September.

• China’s FDI inflow up 15.6% in Jan-Sept

  October 27, 2022

  The actual use of foreign capital in China reached more than 1 trillion yuan in the first nine months of the year, soaring 15.6 percent from a year ago, data released by the Ministry of Commerce showed on Thursday. In US dollar terms, the value was $155.3 billion, surging 18.9 percent from a year earlier.

• Steps to boost the recovery of economy

  October 28, 2022

  China will continue to effectively implement the policy package for stabilizing the economy, as well as follow-up policies, to further promote economic recovery and growth, according to a decision made at the State Council executive meeting chaired by Premier Li Keqiang. Efforts will be made to promote the recovery of consumption as the main driving force for the economy. The meeting noted the need to expedite delivery of policies for spurring investment and consumption. Policies will be implemented to support consumption of big-ticket items such as automobiles and consumer services, and city-specific policies will be adopted to meet people’s basic housing needs. According to Li, the large-scale VAT credit refund has played a vital role in helping firms overcome difficulties and steadying the economy. This policy treats State-owned, private and foreign market entities as equals, and has been a widely welcomed boon to the cash flow of businesses.