stirring old shit.
the GDP is based on surveys conducted by the state statistic bureau, not on local officials report. actually the two numbers will be compared, if the discrepancy is beyond a reasonable range, local officials need an explanation.
Chinese Economics Thread
- Thread starter Norfolk
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stirring old shit.
the GDP is based on surveys conducted by the state statistic bureau, not on local officials report. actually the two numbers will be compared, if the discrepancy is beyond a reasonable range, local officials need an explanation.
The industrial internet is expected to play a bigger role in empowering the high-quality development of the digital economy and promoting regional economic transformation and upgrading, said Zhou Yunjie, chairman and CEO of Chinese home appliance giant Haier Group and a deputy to the 13th National People's Congress.
The key to bolstering urban digital transformation lies in economic digitization and the industrial internet has become a new engine driving the growth of the digital economy in cities, Zhou said.
In his proposal to this year's two sessions－the annual meetings of China's top legislature and political advisory body－Zhou called for increased financial support and encouragement to cities where conditions permit the building of city-level comprehensive industrial internet service platforms, and guiding leading enterprises in the industrial chain and industrial internet platform-based enterprises to jointly build vertical industry platforms.
The industrial internet, a new type of manufacturing automation that combines advanced machines, internet-connected sensors and big data analysis, will boost productivity and reduce costs in industrial production.
China's industrial internet sector has developed rapidly in recent years. According to the Ministry of Industry and Information Technology, the country has nurtured over 100 industrial internet platforms that have strong regional and industry influence, with 76 million units of industrial equipment connected to the platforms, which have served 1.6 million industrial enterprises covering over 40 key industries.
COSMOPlat, Haier's industrial internet platform, is a large-scale platform that allows companies to customize products quickly and at scale by collecting and analyzing data from consumers, suppliers and factories, while boosting productivity and cutting costs.
Zhou said China should build a top-tier open source community for the industrial internet with 15 cross-industry and cross-domain platforms as core members, invite more than 600 industrial internet platforms to join the community, and establish a national industrial internet open source fund.
"At present, 97 percent of global software developers and 99 percent of enterprises use open source software, and more than 70 percent of the world's new software projects adopt the open source model," Zhou said.
He said open source technology has expanded into traditional manufacturing and the chip sector and it is conducive to boosting the development of the industrial internet.
More efforts should also be made to integrate open source technology and related practical training with the education system to nurture more open source talent, Zhou said.
The value of China's industrial internet market is projected to reach 892 billion yuan ($141 billion) this year, according to a research report released by Beijing-based market research company CCID Consulting.
Zhou called for joint efforts to establish a data compliance governance system for the smart home appliance industry in the next one to three years to better protect data security and privacy.
The industrial internet should be established on the basis of traditional industries and information and communication technology, said Ni Guangnan, an academician at the Chinese Academy of Engineering, adding more efforts should be made to facilitate the development of the industrial internet, which will boost the long-term international competitiveness of China's manufacturing industry.
BEIJING — Foreign direct investment (FDI) into the Chinese mainland, in actual use, expanded 11.6 percent year-on-year to 102.28 billion yuan in January, the Ministry of Commerce said on Feb 15.
In US dollar terms, the inflow went up 17.6 percent year-on-year to $15.84 billion.
Foreign investment in the service industry amounted to 82.3 billion yuan last month, up 12.2 percent year-on-year, while inflow to high-tech industries surged 26.1 percent, the data showed.
Investments from countries along the Belt and Road and ASEAN countries increased 28.4 percent and 29.1 percent, respectively.
The data came as Chinese authorities have warned of the triple pressure of demand contraction, supply shocks, and weakening expectations amid an increasingly complicated external environment despite a vibrant economic rebound in 2021.
Against this backdrop, the double-digit growth reflected China's sustained attraction for foreign investments, noted Liu Xiangdong, a researcher with the China Center for International Economic Exchanges.
With government policies aimed at stabilizing foreign trade and investments taking effect, China will continue to see notable foreign investment inflows to high-tech industries and the central and western regions, Liu said.
Been hearing Biden whining about decoupling for months and yet FDI into China keeps increasing
Wonder how the Ukraine situation will affect growth though. Seems too early to tell
Shh, the 'we're in the process of decoupling from China' meme has been circulating for a years now, and China hit record FDI inflows in 2021. They'll likely surpass it in 2022.
Equation
Lieutenant General
That's why sanctioning Putin by the West can hurt the Russian economy, but not so on China.
Decoupling from China is as real as the uyghur genocide
It would hurt China allright. It is just that it would hurt the West that much more.
This is why they won't try to forcibly disconnect its economy as quickly as they did with Russia but do it way more slowly.
Which is what Americans under DJT were hoping to happen when the onset of COVID-19 gained world wide attention out of Wuhan, China. Remember Wilbur Ross, essentially gloating, rather than offering any ounce of human empathy, sympathy to the people of Wuhan, he instead took the stance that the outbreak was good for America because he wrongly concluded that American businesses would leave China en masse. Now, we know that fantasy became a nightmare for America instead.