The Executive meeting of The State Council convened by the Premier of The State Council on June 16 studied a number of policy measures to promote the sustained recovery of the economy, deliberated and adopted the Action Plan to Strengthen Support for the financing of science and technology Enterprises and the Regulation on the Supervision and Administration of Private Investment Funds (Draft). The meeting focused on strengthening macro-policy control, focusing on expanding effective demand, strengthening and improving the real economy, and preventing and defusing risks in key areas, and put forward a number of policy measures.
The meeting stressed that financial institutions should be guided to further optimize product, market and service systems according to the different needs of science and technology enterprises at different stages of development, and provide diversified relay financial services for the whole life cycle of science and technology enterprises. We will strengthen infrastructure development such as evaluation standards for scientific and technological innovation, intellectual property transactions, and credit information systems.
The conference data show that recent global trade trends are similar for developing and developed countries in terms of global and commodity trade trends. Exports and imports of developing countries are growing by an average of 6% a year. However, when East Asian economies are excluded, annual trade growth in developing countries is much higher, at about 14 percent.
Global trade in goods and services rebounded in the first quarter of 2023, growing by about 2% compared to the fourth quarter of 2022. Global trade in goods grew by 1.9% in the first quarter of 2023 compared to the fourth quarter of 2022, driven by a recovery in economic activity in China and increased trade in road vehicles and pharmaceuticals. On the other hand, lower energy prices have led to slower growth in global trade. Global trade in services remained resilient throughout 2022, growing by around 2.8% in the first quarter of 2023. This growth partly reflects the continued rebound in the tourism and travel sector following the COVID-19 pandemic. Over the past four quarters, merchandise trade growth in major economies has been mixed, with Brazil, India, the United States and the European Union all Posting significant increases in imports and exports. In other economies, however, trade growth has been erratic and often negative, especially in terms of exports. One exception was the surge in exports from China and India.
Post time: Nov-13-2023