Shenzhen’s export tax refund increased by 23.5% year on year

04 16, 2024

According to Shenzhen Service, State Taxation Administration, Shenzhen’s export tax refund reached 20.16 billion yuan in January and February of 2024, increasing by 23.5% year on year.It’s known that Shenzhen’s export reached 2,460 billion yuan in the year of 2023, up 12.5% year on year, having ranked first among China’s inland cities for consecutive 31 years.Export tax refund measures have a great significance for steadying foreign trade and strengthening the sources of tax revenue. On January and February of 2024, the tax refund to productive enterprises reached 11.21 billion yuan, having a year-on-year increase of 8%. The tax refund to Shenzhen’s leading productive enterprises had a year-on-year growth. The manufacturing industry involving the production and manufacturing of specialized equipment, transportation equipment, vehicles, especially that of photovoltaic device, high-end medical instrument, drones, new-energy vehicles and other hot products alike, shared about 70% of the tax refund.Furthermore, in January and February, Shenzhen’s departure tax refund scheme also surged. The sales available to the departure tax refund scheme approached 50 million yuan, meaning a surge in the consumption attraction to foreign travelers.The data showed that new quality productive forces are growing, the manufacturing sector, service industry and the industry format are vigorously developing towards a new trend, and the manufacturing sector of Shenzhen is moving forward in a more advanced, more intelligent and greener way.Resource: Shenzhen Special Zone DailyNotice: here, we respect your intellectual property right and your other legitimate rights. As any content here violates your legitimate right, please contact us, and we will delete related content.

Shenzhen’s Cross-border E-commerce Import and Export Value Surpassed 110 Billion Yuan in the First Quarter

04 10, 2024

On April 07 and April 08, Guangdong Provincial Cross-border E-commerce High Quality Development Seminar was held in Shenzhen. As released at the seminar, Guangdong Province’s cross-border e-commerce import and export value surpassed 200 billion yuan in the first quarter of 2024. And, Shenzhen’s cross-border e-commerce import and export value was over 110 billion yuan and increased by over 95% in the first quarter, breaking the record of the same period.It’s known that the seminar was hosted by Commerce Department of Guangdong Province and undertaken by Commerce Bureau of Shenzhen Municipality and China International Electronic Commerce Center(CIECC), for pushing the integrated development of the industry belt, promoting the scientific innovation of the industry and boosting the high-quality development of the economy. Representatives of the commerce bureaus, customs, taxation departments, foreign exchange administrations and relative departments in 21 cities like Guangzhou, Shenzhen, Zhuhai, Dongguan, as well as the representatives of over 400 cross-border e-commerce platforms, services and enterprises of the industrial belt, had discussions and exchanges on the industry’s new development mode, explained and publicized industry-preferential policies, and introduced industrial plans.Simultaneously, some industrial events also took place in Guangdong Province. SHEIN, Amazon, 1688, Ozon and many other enterprises and platforms publicized their newest investment-attraction policies. Over 200 industrial resources from 21 cities including Guangzhou, Shenzhen, were attracted and about 70 exhibition booths were set up for the exhibition of selected cross-border e-commerce products and for the face-to-face exchanges with over 10 cross-border e-commerce platforms and about 100 cross-border e-commerce sellers.Text Source: Shenzhen Special Zone DailyNotice: here, we respect your intellectual property right and your other legitimate rights. As any content here violates your legitimate right, please contact us, and we will delete related content.

GBA’s GDP Surpassed 14 Trillion Yuan in 2023

04 07, 2024

Released by Guangdong Provincial Office on the Affairs of Guangdong-Hong Kong-Macao Greater Bay Area (GBA), the Greater Bay Area, covering less than 0.6% of China’s land, generated a GDP of over 14 trillion yuan RMB in the year of 2023, accounting for one ninth of the nation’s GDP.Zhu Wei, the executive deputy director of the Office, expressed that GDP of the Greater Bay Area reached 10.8 trillion yuan RMB in the year of 2018 and increased by 3.2 trillion yuan RMB during the following 5 years. Outline Development Plan for the Guangdong-Hong Kong-Macao Greater Area being put into effect continuously, Guangdong Province since 2023, followed the development strategy of “Guangdong’s being the strategic fulcrum of the new development pattern, being a demonstrative place for the high-quality development and being a leading place for China-style modernization”, cooperated deeply with Hong Kong and Macao and has made significant strides in pushing GBA to be international and to be best.Text Reference: Xinhua News, CCTV NEWSNotice: here, we respect your intellectual property right and your other lawful rights. As any content here violates your lawful right, please contact us, and we will delete related content.

News from Xinhua | China achieves high-quality development in five major areas

04 01, 2024

BEIJING, March 31 (Xinhua) -- China has made significant strides in high-quality economic and social development, especially in five major areas, namely people's wellbeing, consumption, manufacturing, infrastructure and services, according to a report released on Sunday.The report, jointly released by the Chongyang Institute for Financial Studies at Renmin University of China and cooperative think tanks from the United States, Russia, Canada and India, highlights the "compounding interest" in China's development.The continuous accumulation of Chinese modernization can bring compounding-interest-like development to the country, serving as a driving force for sustained economic growth and prosperity for China. The "compounding interest" of China is characterized by stability of returns, long-term accumulation and sustainability, according to the report.The momentum of China's modernization, characterized by the development of "compounding interest," focuses on taking innovation-driven initiatives, deepening reforms, expanding opening-up and promoting green development, read the report.At the symposium held after the release, experts and scholars from China, the United States, Russia, Britain, Canada, Brazil and other countries discussed the potential and prospects of China's economic development.China's high-quality development, fueled by compounding interest, innovation, reforms, openness and sustainability, demonstrates its commitment to building a prosperous and harmonious society, said Mohammed Saqib, secretary general of India China Economic and Cultural Council. "China is setting a remarkable example for other nations and paving the way for a brighter future for humankind."Notice: the passage is transformed from Xinhua just for information sharing.As any content here violates your intellectual property right and other lawful rights, please contact us, and we will delete related content.

Food Ingredient Consumption Market Volume Reached 9,370 Billion Yuan RMB in 2023

03 27, 2024

As introduced by China Federation of Logistics&Purchasing(CFLP), in the year of 2023, the volume of China’s food ingredient consumption market reached 9,370 billion yuan RMB, having a year-on-year increase of 10.31%. Specifically, the consumption volume of retail ingredients reached 7,250 billion yuan RMB, increasing by 7.66% year on year, while the consumption volume of catering ingredients reached 2,120 billion yuan RMB, increasing by 20.45% year on year. Due to the recovery of China’s catering market, there is a rapidly-increasing consumption demand for catering ingredients.Food ingredient circulation market also saw a steady increase in the market volume. According to related statistics, the volume of ingredient circulation market reached 6,100 billion yuan RMB, having a year-on-year increase of 11.78%, while the market volume for service-type ingredient supply-chain enterprises reached 1,720 billion yuan RMB, having a year-on-year increase of 13.62%.Text Reference: passage from People’s DailyNotice: here,we respect your intellectual property right and your other lawful rights. As any content here violates your lawful right, please contact us, and we will delete related content.

The 7th Global Cross-border E-commerce Festival would Be Held in Shenzhen (06.15-06.17)

03 21, 2024

On March 19, the News Conference of The 7th Global Cross-border E-commerce Festival took place.At the News Conference,Wang Xin -- the executive president of Shenzhen Cross-border E-commerce Association, announced that The 7th Global Cross-border E-commerce Festival & The 9th Shenzhen International Cross-border E-commerce Trade Expo would happen from June 15 to June 17 at Shenzhen Convention & Exhibition Center -- Futian.Centered on the theme as “Cross-border Brands and Cultural Exchange for the Nation’s Prosperity”, the event is hosted by Shenzhen Cross-border E-commerce Association and Shenzhen Media Group, supported by a program of CCTV named “The Growing of the Great Brand”, Sino-American E-commerce Association and NOVOLOULAN, and undertaken by Shenzhen Sanqingniao International Convention & Exhibition Co., Ltd.There would be the industry exhibition covering about 60,000 square meters, attracting over 1,000 cross-border e-commerce exhibitors. The exhibition would be divided into two parts, one being “comprehensive brand ecological zone” and the other being “quality exhibition area”.Wang Xin expressed, with the deep adjustment to global economy, cross-border e-commerce has been a new trade way, playing an important role in promoting the growth of foreign trade. Shenzhen Cross-border E-commerce Association would strengthen its cooperation with cross-border e-commerce industry, to push the optimization and upgrading of products and services and to support the abroad development of Chinese brands. It would also cooperate with the publicity department to promote the abroad popularization of Chinese brands and improve Chinese brands’ international influence. Meanwhile, Shenzhen Cross-border E-commerce Association would try to improve its services to protect intellectual property rights and patents, for Chinese enterprises’ rights protection and risk prevention abroad.Notice:Text reference: sznews.comPicture from sznews.comHere,we respect your intellectual property right and your other lawful rights. As any content here violates your lawful right, please contact us, we will delete related content.

Economic Watch: China to beef up efforts to bolster youth employment | News from Xinhua

03 11, 2024

BEIJING, March 11 (Xinhua) -- China has pledged to stabilize and expand employment and improve people's livelihoods as a priority of its overall socio-economic development efforts.How to promote employment, particularly for young job-seekers, is a hot topic widely discussed by national lawmakers and political advisors during this year's "two sessions."The current employment situation has generally improved with the stabilization and improvement of the economy, said Mo Rong, a member of the National Committee of the Chinese People's Political Consultative Conference, China's top political advisory body.The number of young job-seekers keeps growing, making competition in the job market steeper. However, there are many positive factors available to boost the job market, such as economic growth and policy support, added Mo, president of the Chinese Academy of Labor and Social Security.Over 11.7 million students are expected to graduate from college this year. More efforts should be made to promote employment for young people and provide better guidance and services to help them secure jobs or start businesses, according to this year's government work report unveiled last week for deliberation.Wang Jinsong, a deputy to the National People's Congress (NPC), China's national legislature, said keys to enlarging the job market include accelerating industrial restructuring and high-quality development, cultivating advanced manufacturing, modern agriculture and service industries, and creating more intellectual and technical posts for college students."Many new jobs and occupations will emerge, providing young people with more new career choices and new space for development," said Wang, also dean of the Graduate School of Tianjin University of Technology.The government work report puts forward a slew of measures, such as making traditional industries higher-end, smarter and more eco-friendly, fostering emerging industries and future-oriented industries, and opening up new fields such as quantum technology and life sciences.According to Minister of Human Resources and Social Security Wang Xiaoping, there is already strong demand from the job market for talent in fields such as artificial intelligence and big data.After emerging industries create new job opportunities, reform of education and training can help young people meet such job demand.The government work report said China will enhance vocational skills training to meet job demand in sectors such as advanced manufacturing, modern services and elderly care.Wu De, an NPC deputy and president of Sichuan Agricultural University, said that to improve the quality of student education and training, the university has since 2020 been cutting or optimizing majors that are difficult for students to find a job.The university has also been improving its curriculum based on its own characteristics, and is placing greater emphasis on practical training in cultivating talent, Wu added."It is obvious that our graduates now have a wider range of job opportunities, and they are more adaptive," Wu said.Notice: the whole text is transferred from Xinhua just for information sharing.Here, we respect your intellectual property right and your other lawful rights. As any content here violates any of your lawful rights, please contact us, and we will delete related content.

Xictionary: New quality productive forces | News from Xinhua

03 07, 2024

BEIJING, March 6 (Xinhua) -- Chinese President Xi Jinping has stressed developing new quality productive forces amid the country's accelerated efforts to foster new growth drivers and promote high-quality development.First put forward by Xi in his inspection tour of northeast China's Heilongjiang Province in September 2023, the term was highlighted again at the Central Economic Work Conference in December, and became the subject of the first group study session held by the Political Bureau of the Communist Party of China (CPC) Central Committee this year.With innovation playing the leading role, new quality productive forces mean advanced productivity that is freed from traditional economic growth mode and productivity development paths, features high-tech, high efficiency and high quality, and comes in line with the new development philosophy, Xi, also general secretary of the CPC Central Committee, said at the study session.New quality productive forces are driven by revolutionary technological breakthroughs, innovative allocation of production factors, and deep industrial transformation and upgrading, he noted.Xi highlighted the concept again Tuesday when participating in a deliberation at the ongoing annual national legislative session, stressing developing new quality productive forces based on local conditions.He called for efforts to step up innovation, foster emerging industries, adopt forward-thinking plans for developing future-oriented industries and improve the modern industrial system.Developing new quality productive forces does not mean neglecting or abandoning traditional industries, Xi said, noting that it is necessary to prevent a headlong rush into projects and the formation of industry bubbles, and avoid adopting just a single model of development.China has made strides in boosting sci-tech innovation and industrial upgrading. Its global ranking in innovation has increased markedly over the past decade, while strategic emerging industries, such as new energy, high-end equipment and biotechnology, have taken a larger share in the national economic output."Developing new quality productive forces is an intrinsic requirement and an important focus of promoting high-quality development," Xi once said.Notice:The above content is transferred here just for information sharing.We respect your intellectual property right and your other lawful rights.As any content here violates any of your lawful rights, please contact us, and we will delete related content.

China's securities regulator pledges improved supervision standards, malpractice crackdown | News from Xinhua

02 23, 2024

BEIJING, Feb. 22 (Xinhua) -- The China Securities Regulatory Commission (CSRC) on Thursday said that it will guide the Shanghai Stock Exchange, the Shenzhen Stock Exchange and the China Financial Futures Exchange to strengthen their standards of supervision for abnormal transactions, and that it will crack down on illegal activities such as market manipulation and insider trading in accordance with laws and regulations.In a statement on its website, the CSRC said that these efforts are for maintaining the market's normal trading order."Regulatory authorities do not interfere with normal market transactions, and we seek to protect investors' rights to fair and free transactions in accordance with the law. However, we will resolutely crack down on illegal activities that disrupt the market trading order, in accordance with laws and regulations," the statement said.Recently, the Shanghai and Shenzhen stock exchanges took regulatory measures to crack down on the abnormal trading behavior of an institution in accordance with regulations, the CSRC statement said."That's fulfilling their trading supervision responsibilities, not limiting share selling," said the CSRC statement.On Feb. 19, the Shanghai and Shenzhen stock exchanges issued separate statements that named Lingjun Investment, a major quant fund, as an entity that had disrupted orderly market trading. The exchanges also announced penalties for the company, including open censure and a restriction on trading for a stated period of three days.Notice:The above content is transferred here just for information sharing.We respect your intellectual property right and your other lawful rights.As any content here violates any of your lawful rights, please contact us, and we will delete related content.