China’s economy on the rise as data reveals steady growth in key sectors
According to recent data released by CCTV, China’s economy is showing signs of improvement across various sectors. The purchase of grain in 2023 is expected to surpass 400 million tons, marking a significant increase from previous years. Additionally, the national railway passenger and freight volumes are set to hit record highs, with 3.68 billion passenger trips and 3.91 billion tons of cargo being transported throughout the year.
The country’s mailing business volume is also on the rise, with expectations that it will exceed 160 billion items in 2023. Furthermore, the national oil and gas production equivalent is reaching new highs, exceeding 390 million tons of oil equivalent.
In addition to these impressive numbers, the vitality of China’s business entities continues to improve, as evidenced by a 25.4% year-on-year increase in the number of business entities handling tax-related matters. Furthermore, the Ministry of Human Resources and Social Security has proposed large-scale vocational skills training for migrant workers, highlighting the government’s commitment to enhancing skills improvement and employment opportunities.
The government is also taking steps to support key regions in their economic development. Measures have been implemented to relax market access in Guangzhou Nansha and to strengthen the regulatory system. The Ministry of Commerce, the Taiwan Affairs Office of the Central Committee of the Communist Party of China, the National Development and Reform Commission, and the Ministry of Industry and Information Technology have issued a notice on measures to support Fujian in exploring new paths for cross-Strait integrated development.
Looking ahead, the number of civil aviation passengers during the upcoming Spring Festival is expected to reach 80 million, and the Forecasting Science Research Center of the Chinese Academy of Sciences has released an analysis report predicting steady growth in endogenous economic power in 2024.
Overall, the data paints a positive picture of China’s economic growth, with steady improvements across various sectors and a promising outlook for the future.