Continuous Momentum in China’s Economy
China's economy shows solid momentum in the first half of 2024, with the June manufacturing PMI stable at 49.5. High-tech manufacturing rose to 52.3, and equipment manufacturing held at 51, indicating ongoing expansion. Industrial firms' profits increased by 3.4% year-on-year, reaching 2.75 trillion yuan.
Courier Sector Growth
China's courier sector handled over 80 billion parcels in the first half of 2024, achieved 59 days earlier than last year. June saw an average daily delivery volume exceeding 500 million pieces. The sector's growth is supported by upgrades to sorting equipment and the adoption of new energy vehicles.
CHN Energy's Milestone in New Energy Capacity
CHN Energy Investment Group announced its new energy installed capacity reached 100 million kilowatts by the end of June. This includes 62.28 million kilowatts of wind power and 42.13 million kilowatts of photovoltaics, highlighting the company's shift towards cleaner energy sources.
Digitized Vehicle Registration License Policy
China's Ministry of Public Security piloted a digitized vehicle registration license policy in 60 cities, issuing over 2.15 million digitized licenses. Improved online traffic services and an auto replacement subsidy program have benefited over 4 million people and enterprises.
Strong Domestic Market Offers Opportunities
David Bach, incoming president of IMD, highlighted the massive opportunities in China's domestic market, particularly in clean energy, digital technology, and advanced materials sectors. China's ability to innovate and scale up in a large domestic market presents enormous growth potential.