China ramps up policy support for trade-ins to boost consumption

Chinese localities have been ramping up efforts to boost consumption, with increased policy support, including direct financial support, for trade-ins of consumer goods and equipment upgrades at companies, in line with a national campaign to bolster domestic demand amid economic recovery. 

The intensifying efforts come as domestic consumption, while holding vast potential, remains under pressure, and plays a critical role in China's overall economic growth. Experts said that the increasing policy support will not only help underpin stable growth in consumption in the short term, but also lay a solid foundation for overall economic development in the long run.  

In recent days, various Chinese localities, including Central China's Hunan Province, South China's Guangdong Province and East China's Shanghai Municipality, have issued detailed plans to boost consumption demand, according to a report by the China Securities Journal on Thursday.

In addition to expanding the coverage of trade-in policies and increasing support for trade-ins in areas such as automobiles and home appliances, the new measures from local governments also specifically mentioned the utilization of capital from ultra-long special treasury bonds, the China Securities Journal report noted. 

Among the highlights of the Shanghai action plan is increased financial support from both the ultra-long special treasury bonds and local counterpart funding, which exceeded 4 billion yuan ($563.3 million), Shanghai Observer reported. 

Another highlight is increased financial support for trade-ins of certain goods. For example, the subsidy for trade-ins of new-energy vehicles was increased from 10,000 yuan to 20,000 yuan, according to the Shanghai Observer report. The policy coverage was also extended to home appliances such as furniture and vacuum cleaners.

The Guangdong provincial government recently released an implementation plan to better utilize funds from ultra-long special treasury bonds to support trade-ins of consumers goods, which also increased financial support for trade-ins of products such as automobiles.

The local plans come after the National Development and Reform Commission and the Ministry of Finance in July issued a plan for equipment renewal and trade-ins of consumer goods, including a fund of 300 billion yuan from ultra-long special treasury bonds to support the campaign. 

City governments have also stepped up efforts to boost trade-ins. Shantou in Guangdong, for instance, said that since May, it has taken various steps to increase trade-ins of consumer goods, and as of July 10, the efforts have led to total consumption of 200 million yuan, the city government said in a statement sent to the Global Times on Thursday, adding that the city will hold various activities in districts and counties to further boost market vitality and create a favorable environment for consumption. 

Unleashing potential

The ramped-up policy support for trade-ins of consumer products and equipment renewal with the support of funds from the ultra-long special treasury bonds will help boost consumer confidence and unleash the vast potential of China's consumption, experts said. 

"The use of funds from the ultra-long special treasury bonds by various localities to promote trade-ins is an effort to increase consumers' desire to spend by leveraging subsidies, which can be effective in stimulating consumption demand," Tian Yun, a veteran economist based in Beijing, told the Global Times on Thursday. 

Tian said that the campaign to boost trade-ins of consumer goods and equipment renewal is conducive not only to boosting consumption, but also to promoting development in various industries. "This is not a short-term policy to boost consumption, but rather a long-term strategic arrangement," Tian said. 

Boosting consumption demand is critical in supporting the ongoing economic recovery amid external and internal pressure. In July, total retail sales of consumer goods, a broad gauge of consumption, reached 3.7757 trillion yuan, up 2.7 percent year-on-year, according to official data. 

Experts said that while the data showed that domestic consumption continues to recover, there is vast potential for further improvement in demand, and increasing efforts to promote consumption will have a profound positive effect on the economy as a whole.

"Consumer spending will lift domestic demand and promote economic development. On the other hand, trade-ins could lead to development in industries such as recycling, pollution reduction, as well as new momentum for economic development," said Pan Helin, a member of the Expert Committee for the Information and Communication Economy under the Ministry of Industry and Information Technology.

Producing profits

A worker is seen on the production line of Ultra High Molecular Weight Polyethylene Fiber Composite in Lianyungang, East China's Jiangsu Province on August 29, 2024. According to data from the National Bureau of Statistics, profits in China's high-tech manufacturing sector grew 12.8 percent year-on-year in the first seven months of 2024. Photo: VCG

Rising tech exports

A worker is busy filling international orders for LED chips at a factory in Suqian, East China's Jiangsu Province, on September 3, 2024. According to the General Administration of Customs, China's exports of high-tech products totaled 3.45 trillion yuan ($484.7 billion) in the first seven months of 2024, a 7 percent year-on-year increase. Photo: VCG

China expands opening-up in services sector

China's State Council, the cabinet, on Monday issued a guideline on high-level opening-up in the services sector, containing 20 specific measures including improving the negative list mechanism for cross-border trade in services.

The move further highlighted China's commitment to high-standard opening-up, and China's rapidly growing services market will offer greater opportunities for businesses from around the world, experts said, noting that the opening-up measures are also crucial to promote the high-quality development of China's services industry.

The guideline covers six areas, including promoting institutional opening-up in services trade, facilitating cross-border flows of resources such as talent and capital, advancing innovative development in key areas such as international shipping, and expanding the international market. 

Notably, the guideline said that China will fully implement a negative list for cross-border services trade and establish a corresponding management system. For cross-border services trade outside of the negative list, the principle of uniform treatment will be adopted in managing both domestic and foreign services providers, according to the guideline. 

China will further open up the services sector by giving full play at free trade pilot zones and the Hainan Free Trade Port, and strengthen regulatory coordination and compatibility with international trade rules so as to streamline approval procedures, improve regulatory and policy transparency, and reduce costs for cross-border services trade, the guideline said. 

"The guideline represents major measures in China's all-round opening-up," Li Yong, a senior research fellow at the China Association of International Trade, told the Global Times on Monday, noting the fast development in China's services industry.

The services industry plays an increasingly important role in China's high-quality development. In the first half of 2024, the value added of the services industry grew by 4.6 percent year-on-year, and contributed 52.6 percent of China's overall economic growth during the period. 

In terms of trade in services, total imports and exports by value jumped by 14 percent year-on-year, according to official data. 

Li said that as China has basically fully opened up the manufacturing industry to foreign businesses, the services sector is a critical area of China's continuous high-level opening-up. "Opening-up in the services industry will also be critical in China's efforts to attract foreign investment," he said. 

China has been steadily promoting opening-up in both the manufacturing and services industries. This year's Government Work Report, released in March, said that all market access restrictions on foreign investment in manufacturing will be abolished, and market access restrictions in the services sectors, such as telecommunications and healthcare, will be reduced.

Before the guideline on Monday, China in July announced a major step to further open up the services sector, allowing six cities, including Shenyang in Northeast China's Liaoning Province, Nanjing in East China's Jiangsu Province and Hangzhou in East China's Zhejiang Province, to offer greater market access for foreign services providers. 

For example, foreign investment will be granted greater access in the eldercare, travel, telecoms, entertainment and live performance businesses.

Li said the opening-up measures in the guideline on Monday cover a wide range of areas, including new emerging sectors such as cross-border data flows. "This is very significant in improving the business environment and creating greater opportunities for services providers," the expert said. 

According to the guideline, China will facilitate the effective, convenient and safe cross-border flows of data. China will also facilitate cross-border flows of talent, capital and technologies. 

In terms of services imports, China will increase imports of services in high demand, including healthcare, culture and entertainment. 

China will also promote international cooperation in the services industry through various platforms and initiatives, including the Belt and Road Initiative, the guideline said. 

In line with China's efforts to boost services cooperation, the 2024 China International Fair For Trade In Service will be held in Beijing from September 12 to 16, where more than 420 Fortune Global 500 and leading enterprises will participate, according to officials.

Summer travel season concludes with record trips, booming tourism

With the sweltering heat of summer gradually fading, the two-month-long summer travel season has come to a triumphant close, marking not just a feast for China's tourism market but also a display of the country's robust economic vitality.

From the bustling scenes at railway hubs to the packed scenic spots, from the soaring domestic tourism data to the influx of foreign visitors, the energy and activity can be felt in every corner of the country.

During the summer travel season from July 1 to August 31, China registered around 10.917 billion passenger trips in inter-regional movement, a daily average of 176 million trips, according to data released by China's Ministry of Transport. In particular, a staggering 887 million railway passenger trips were recorded nationwide, representing a 6.7 percent year-on-year increase and a daily average passenger flow exceeding 14.31 million, a record high, according to data from China Railway. 

These figures also serve as a vivid testament to China's immense potential for domestic demand and thriving consumption dynamics.

Tourism boom

As the summer draws to a close, multiple online travel platforms have released reports revealing substantial growth in both bookings and visitor numbers for summer travel products. 

Spring Travel said in a report sent to the Global Times that the number of domestic travelers during the summer of 2024 exceeded the same period in 2023. 

Data from other platforms such as Fliggy also revealed that both per capita bookings and spending increased year-on-year during the summer, with a more pronounced emphasis on immersive travel experiences.

Xu Fan, a tourism enthusiast from central China's Henan Province, who embarked on a journey to Southwest China's Guizhou Province, told the Global Times he was captivated by local handicrafts and unique souvenirs that encapsulated the essence of Guizhou's traditional heritage. "I was impressed by the diverse range of creative products available, which have expanded beyond traditional clothing and textiles. Some foreign tourists also showed a strong interest in the unique batik crafts, often taking photos and spending time admiring the intricate designs," Xu said.

In the vast desert areas of Northwest China, a romantic encounter with the stars and nature has also emerged as one of those immersive travel experiences. "Desert hotels," which allow visitors to spend the night observing the stars, experienced a year-on-year surge of 270 percent in searches on Meituan in early August. The search for "desert coffee" rose by an astonishing 518 percent.

Meanwhile, frenzy over China's hit game Black Myth: Wukong has also boosted tourism in places like North China's Shanxi Province, as the intertwining of gaming and its real-world settings breathed new life into ancient cultural sites. According to data from Trip.com Group, since the game was launched, the number of ticket orders for Xiaoxitian scenic spot, one of the filming locations, has increased by 261 percent year-on-year.

"The number of tourists has skyrocketed this summer, especially after the launch of the game. We went from about 1,500 visitors a day to over 5,000 in just a matter of days. The influx of tourists continued with visitors purchasing local products and cultural items. There were also some foreign tourists seen in the scenic spots," a staff member of the Xiaoxitian scenic spot told the Global Times on Sunday.

Facilitating policies

The presence of foreign tourists has added a unique dimension to this tourism extravaganza. With visa-free policies in place, China has increasingly become a popular destination for overseas travelers. 

"This is my first time visiting Beijing, and I am amazed by the scale of the city. Taking a taxi is incredibly convenient, something that's quite different from my experience in Perth," a tourist from Australia, told the Global Times on Sunday. 

"Famous attractions like the Temple of Heaven and Nanluoguxiang are bustling with visitors. I'm glad this surge has encouraged businesses to extend their hours and improve their offerings, making my evening strolls and shopping even more enjoyable," he said, adding that he has bought many traditional Beijing pastries and plans to visit Shanghai next.

Data from Trip.com Group showed that inbound travel orders during the summer surged by approximately 70 percent year-on-year, with South Korea topping the list of source countries. Thailand, Japan, Singapore, Malaysia, the US, Australia, Vietnam, the UK and the Philippines followed behind.

Olympic champion Chen Meng urges fans to rationally view competition results

Chinese table tennis Olympic champion Chen Meng urged fans to appreciate the athletes' determination and approach competition outcomes with a balanced perspective, rather than focusing solely on the results.

Chen, the newly crowned women's singles Olympic champion, made the remarks during an interview after China advanced to the semifinals of the women's table tennis team event at the Paris Olympics on Wednesday, while responding to a question about the recent crackdown by China's public security and cyberspace administration departments on illegal activities within sport fan communities.

Chen herself faced much pressure during her women's singles final match against Sun Yingsha, as many fans on the stand showed favoritism toward Sun while booing Chen.

A 29-year-old woman surnamed He was detained by the police for posting inflammatory and defamatory comments about Chinese athletes and coaches on Sina Weibo, following the table tennis women's singles final at the Paris Olympics, according to a circular released by the Beijing police on Monday. 

The arrest came after Beijing police received reports from the public about the posts, which were found to be harmful due to their malicious and false nature. The woman has been placed under criminal detention while the investigation continues.

The case highlighted the authorities' efforts to preserve the spirit of sportsmanship and prevent the negative aspects of toxic fan culture from tarnishing the integrity of sports.

Over 300 accounts and influential users that engaged in maliciously speculating about coaches and posting attacks against athletes following the women's singles table tennis final have been banned from posting, according to a notice by Sina Weibo on Sunday.

Chen noted that while fans naturally wish for their favorite athletes to win, it is essential to understand that victories and defeats are inherent in competitive sports, adding that those who follow sports should be mentally prepared to handle these outcomes, as they are an integral part of any sport. Finally, she encouraged fans to appreciate and pay more attention to the athletes' perseverance, passion and resilience.

Team China's zero occurrence of doping issues in Paris Olympics 'marks a phased victory against US practices'

China’s Olympic delegation for Paris 2024 has not only achieved the goal of “zero occurrence” of doping issues, but also marked a phased victory against the US over its anti-doping practices, Liu Guoyong, deputy head of the delegation, told a press conference on Sunday.

The Paris 2024 Olympic Games concluded on Sunday with Team China winning 40 gold, 27 silver and 24 bronze medals, with the result marking the best performance for Team China at an Olympic Games held overseas.

As of August 10, the delegation athletes have undergone a total of 214 doping tests during the Olympic Games, a decrease from the 230 tests conducted during the Tokyo Olympics. The decrease reflects the international anti-doping organization’s recognition of clean Chinese athletes and the effectiveness of China’s anti-doping efforts, Liu said.

Liu emphasized China’s comprehensive efforts in establishing a “clean national team anti-doping ecosystem.” China focuses on building cleanliness in various aspects such as the national teams, training facilities, support teams, food, drugs and nutrition, external support, social environment, competition processes and ethical standards.

Liu noted that the self-awareness among Chinese athletes has increased, and the national teams have strengthened their anti-doping management to reduce doping risks.

The delegation has implemented measures to protect athletes’ rights and interests, ensuring the athletes to participate in the Olympic Games without unfair interference. The delegation has also united with global organizations to oppose politicization of sports and “long-arm jurisdiction” by the US, safeguarding the unity of the international Olympic family, according to Liu.

Chinese swimming athletes have always followed international rules and cooperated with high-frequency pre-competition doping tests, with no positive results, demonstrating their good personal qualities and spirit, earning them widespread respect and recognition, said Liu.

The China Anti-Doping Center remains independent, fair, professional, and authoritative in its work, passing the World Anti-Doping Agency’s on-site compliance review.

The China Anti-Doping Center conducted over 33,000 doping tests in 2023, representing in excess of 10 percent of the global total. The number of doping violations decreased from 92 cases in 2017 to 30 cases in 2023, with the violation rate dropping from 0.53 percent to 0.09 percent, according to Liu.

China’s anti-doping efforts have formed a unique anti-doping governance system with Chinese characteristics, said Liu.

Vietnam's To Lam to visit China in first overseas trip as party chief

Vietnam's top leader To Lam will make a three-day state visit to China starting Sunday, his first overseas trip since becoming the general secretary of the Communist Party of Vietnam (CPV) Central Committee. 

Analysts said the trip shows a continuation of the close relationship between the two countries as developing long-term, stable and sound Vietnam-China relations has always been the strategic choice and top priority of the CPV and the Vietnamese government.

At the invitation of General Secretary of the Communist Party of China (CPC) Central Committee and Chinese President Xi Jinping, General Secretary of the CPV Central Committee and Vietnamese President To Lam will pay a state visit to China from August 18 to 20, Chinese Foreign Ministry spokesperson Hua Chunying announced Thursday. 

Lam was elected General Secretary of the CPV Central Committee on August 3, following the passing of former General Secretary Nguyen Phu Trong on July 19. Analysts said that Lam's visit to China underscored the unique and strategic significance of China-Vietnam relations, highlighting that cooperation with China is a top priority of Vietnam's foreign policy in the post-Trong era.

President Xi will meet Lam during his visit to China. Premier Li Qiang, Chairman Zhao Leji of the National People's Congress Standing Committee, and Chairman Wang Huning of the Chinese People's Political Consultative Conference National Committee, will meet with Lam respectively, the spokesperson of Chinese Foreign Ministry said on Thursday. 

China and Vietnam are working intensively to implement the outcomes achieved during Xi's historic visit to Vietnam at the end of last year, the spokesperson said, adding that efforts to build the China-Vietnam community with a shared future that carries strategic significance have had a good start, said the spokesperson. 

Noting that China is the first country that Lam will visit after becoming the general secretary of the CPV central committee, the spokesperson said this fully demonstrates the great importance that he attaches to the relations between the two parties and countries.

"Through this visit, China looks forward to carrying forward traditional friendship, deepening the building of the China-Vietnam community with a shared future, and working with Vietnam to achieve success on our respective socialist paths toward modernization with distinctive characteristics, jointly advance the global socialist cause, and contribute to regional and global peace, stability and development," said the spokesperson. 

China-Vietnam relations have a rich and positive legacy. Since the normalization of relations in 1991, Vietnam's leaders have adopted a pragmatic foreign policy toward China, leading to steady progress in the relationship. With Lam taking over, the most important task is to ensure a smooth transition and build on this positive legacy, Feng Chao, director of the Institute of South and Southeast Asian Studies in Shanghai International Studies University, told the Global Times.

Maintaining strong ties with China is highly beneficial for Vietnam's industrialization and modernization, especially given the current economic development challenges the country faces, said Feng. 

By choosing China as Lam's first overseas visit, Vietnam has reaffirmed the significant role China plays in its diplomacy and the enduring friendship between the two parties. The relationship between the CPC and CPV will steer the development of bilateral relations, highlighting that strong party ties continue to be a key feature of the current China-Vietnam relationship, Ge Hongliang, vice dean of the ASEAN College at the Guangxi Minzu University, told the Global Times on Thursday.

Ge said that Lam is expected to have in-depth discussions with Chinese leaders on further developing relations between the CPC and CPV, with new consensus possibly being made. 

One of the main goals of Lam's visit to China is to engage in high-level strategic dialogue with Chinese leaders on future cooperation. In addition to reconnecting with old friends, new connections will be established, Xu Liping, director of the Center for Southeast Asian Studies at the Chinese Academy of Social Sciences, told the Global Times on Thursday.

As both China and Vietnam are socialist countries and led by communist parties, Lam's visit is key to deepening mutual understanding. It also aims to shape the development of the China-Vietnam community with a shared future, said Xu. 

China and Vietnam have maintained high-level interactions in recent years. In December 2023, President Xi paid a state visit to Vietnam, during which Xi and then general secretary of the CPV Central Committee Trong announced the building of a China-Vietnam community with a shared future that carries strategic significance.

Analysts are highly anticipating Lam's visit, which will advance the China-Vietnam community with a shared future that carries strategic significance. They believe it will not only deliver tangible benefits to both nations but also provide significant certainty, confidence, and momentum for regional development.

In addition to economic cooperation, China and Vietnam will also hold discussions covering core issues, particularly maritime issues, said Xu.

Balanced diplomacy unchanged

The US and some Western countries are closely watching Lam's visit to China. 

Ge noted that Lam's visit underscores Vietnam's balanced foreign policy, termed "bamboo diplomacy" and honed under the late general secretary Trong, remains unchanged.

Despite facing challenges and pressures, Vietnam has effectively integrated into the international community and regional value chains by maintaining a non-aligned stance, said the expert, noting that being committed to an open and inclusive model of international relations, Vietnam aims to enhance its global standing to foster economic development and achieve long-term national goals. 

"This strategy supports Vietnam's autonomy while contributing to regional and global stability," said Ge.

Since becoming president in May, Lam has visited Laos and Cambodia. He also met with Russia's President Vladimir Putin during Putin's visit to Hanoi in June and spoke with him by phone on August 8 after assuming his role as party leader.

Amid rising protectionism from Europe and America, Vietnam, like China, faces challenges from the US and Europe's "small yard and high fence" strategy, analysts said. 

Strengthening cooperation between regional countries and developing countries are crucial for addressing these issues effectively, observers said, calling for more cooperation and exchanges between China and Vietnam. 

71-year-old man runs 2 kilometers to escape after being attacked by black bear

A 71-year-old man in Southwest China's Sichuan Province ran two kilometers to escape after being attacked by a black bear, with the distance between the man and bear at one point being only one meter, according to recent local media reports.

The man, surnamed Lan, was out in nearby mountains to gather matsutake mushroom. As Lan ascended a slope, he suddenly spotted a black bear resting on the flat ground. With just a mere meter separating them, Lan found himself face-to-face with the bear, according to his daughter, as reported by media on August 9.

Before he could react and move, the bear lunged at him. In the ensuing struggle, the bear swiped at the right side of Lan's face with such force that it tore skin and flesh from his face. The overwhelming strength of the bear rendered Lan defenseless.

However, the black bear's attack lasted for a while and paused. Lan noticed that the bear itself had a leg injury upon seeing the bear run away. Lan then hurriedly got up to escape, took off his clothes, wrapped his face wound to stop the bleeding, and fled the scene by running for two kilometers down the river. During this time, he called his wife for help.

Nearby herdsmen then discovered Lan covered in blood, and after his family members arrived, he was taken immediately to hospital. According to the report, Lan was diagnosed as displacement of the soft tissues in his face, severe fractures, and partial collapse of facial bones. One side of the nostril has been displaced.

Doctors suggested that if someone is injured by a wild animal in the wilderness, they should promptly observe the wound and stop any significant bleeding by applying pressure with clothing or using items like ropes or rubber bands to restrict blood flow.

In the event of a fracture, individuals can stabilize the affected area with nearby items such as wooden boards to prevent further harm to blood vessels, nerves, and tissues. Seeking medical attention promptly is of crucial importance.