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BEIJING, Jan. 9 (Xinhua) — China’s prudent monetary policy will be more targeted and effective this year to provide stronger support for the overall recovery and improvement of its economy, according to financial officials and experts.

In a statement released after the latest quarterly meeting of its monetary policy committee, the People’s Bank of China (PBOC), the country’s central bank, has pledged to strengthen its implementation of the prudent monetary policy and provide stronger support for the real economy.

The central bank said it will work to maintain liquidity at a reasonably ample level, maintain effective growth in total credit volume, and ensure that increases in money supply and aggregate financing are generally in step with nominal economic growth.

Liang Si, a researcher at the Bank of China’s research institute, said that considering lingering pressure, the monetary and financial environment for the real economy will remain stable and appropriate this year. He expected M2 and social financing to both maintain double-digit growth.

Newly added social financing, a measurement of funds that individuals and non-financial firms receive from the financial system, came in at nearly 30.5 trillion yuan (about 4.47 trillion U.S. dollars) in the first eleven months of 2022, central bank data shows.

Liang said he believes domestic banks’ loan interest rates will continue to decrease to boost enterprises’ vitality. He noted that the PBOC has pledged to lower corporate financing costs in 2023, and external pressure from the U.S. Fed’s rate hikes is likely to ease.

In addition to ample liquidity and lower rates, China’s monetary policy in 2023 is also expected to be more targeted, with emphasis on key fields and weak links in the economy.

Guo Shuqing, chairman of the China Banking and Insurance Regulatory Commission, has highlighted expanding effective demand and deepening supply-side reform as focuses of the country’s monetary policy in 2023.

Converting the current total income into consumption and investment to the maximum extent possible is the key to faster economic recovery and high-quality growth, and financial services have a lot to offer in the process, Guo said in an interview with Xinhua.

Guo pledged to tilt monetary policy toward private enterprises, with measures to maintain the effective growth of total credit and lower overall financing costs.

Ren Tao, a researcher at China’s National Institution for Finance and Development, said that bank credit will continue to be channeled into modern sectors such as advanced manufacturing and strategic emerging industries, and sectors that facilitate domestic demand, such as the auto and green appliances industries, will attract such funds as well.

Ren said financing demand related to the real estate sector this year will be unlocked to some extent, with specific support to be given to secure the delivery of pre-sold housing, and loans for mergers and acquisitions in the real estate sector will rise.

In his interview, Guo also stressed the need to promote healthy circulation between the real estate and financial sectors.

China will make efforts to ensure the delivery of pre-sold housing, focus on improving the balance sheets of leading real estate developers, and seek to promote the property industry’s transition to new development models, Guo noted.

This photo taken on Oct 16, 2022 shows the Great Hall of the People in Beijing, the capital of China. [Photo/Xinhua]

Vision ensures common prosperity for all, pursues peaceful development

China’s broader push for its pathway to modernization has fueled expectations that the nation will bring more opportunities and create a dynamic of growth that will deliver wide-ranging benefits for the world, according to business leaders and analysts.

The Chinese path to modernization, a key vision outlined by Xi Jinping, general secretary of the Communist Party of China Central Committee, in his report to the 20th CPC National Congress, is the modernization of a huge population, and it ensures common prosperity for all and pursues peaceful development.

This path will also entail the promotion of high-standard opening-up, including the high-quality development of the Belt and Road Initiative and broader steps to share its development experience, analysts said.

Raymund Chao, chairman of PwC Asia-Pacific and China, said the vision of the Chinese path to modernization was proposed at a pivotal moment with the international environment becoming increasingly complex and uncertain and global leaders contemplating solutions to the challenges brought about by the COVID-19 pandemic, regional conflicts, and supply chain and trade disruptions.

“The path to ‘Chinese modernization’ and developing China as a ‘great modern socialist country’ by the mid-21st century will have profound implications for economic and social development, both for the world and China, in the coming years,” he said.

To follow this path and attain this goal, he said the nation will expand institutional opening-up with regard to rules, regulations, management and standards, promote high-quality development of the BRI and endeavor to preserve the diversity and stability of the international economic landscape and trade relations.

China’s top leadership reaffirmed its push for the Chinese path to modernization at the annual tone-setting Central Economic Work Conference in December, during which policymakers pledged to make greater efforts to attract more foreign capital, widen market access and further open up the modern services sector.

They also highlighted the nation’s unwavering commitment to join high-standard economic and trade agreements, including the Comprehensive and Progressive Agreement for Trans-Pacific Partnership and the Digital Economy Partnership Agreement.

Xi said in a written speech delivered at the APEC CEO Summit in Bangkok in November that no more than 30 countries, with a total population of less than 1 billion, have achieved industrialization so far. He said that China’s middle-income population will increase to over 800 million in the next 15 years, and promote the sustained growth of China’s supersized market.

Chao said the modernization of China’s 1.4 billion population to promote common prosperity will unleash consumer demand for high-quality goods and services as the nation pushes for the building of a community with a shared future for mankind.

“A modernized China will bring more opportunities and create a dynamic of growth for both the region and the world,” he said. “It is also a strong signal of China further opening up to the world, underscoring the country’s commitment to pursue an open strategy of achieving peaceful and coordinated development for win-win outcomes.”

Ivona Ladjevac, deputy director of Serbia’s Institute of International Politics and Economics, said China’s modernization is inextricably linked with socialist modernization, which contains unique elements making it unlike modernization pursued by any other countries.

“Not for a moment rejecting the fact that it is a long-term process, it was started with the desire that the end result would be a prosperous society based on equity and justice, a society that would not be polarized,” she said.

Ladjevac said that China’s vision for its modernization has been encouraging to other developing countries.

“A commitment to peace, development, cooperation and mutual benefit, along with a firm determination to preserve world peace and development, underlies China’s modernization,” she said.

“Through its realization, China makes a greater contribution to peace and development in the world,” she added.

As part of its broader push to promote global development, China decided last year to upgrade its South-South Cooperation Assistance Fund to a Global Development and South-South Cooperation Fund and add $1 billion to the fund on top of the $3 billion already committed.

In a speech on China’s diplomacy delivered on Dec 25, Wang Yi, who was then foreign minister and is now director of the Office of the Foreign Affairs Commission of the CPC Central Committee, said Beijing will stay committed to a Chinese path to modernization, not only creating a new form of human advancement, but also providing new choices for developing countries.

“We will firmly support developing countries in exploring development paths suited to their national conditions and embarking on a fast track toward modernization at an early date,” he said.

Chea Munyrith, president of the Cambodian Chinese Evolution Researcher Association, said he believes the Chinese path to modernization will entail furthering sharing of China’s expertise in development, including for global poverty reduction and the easing of the global food crisis.

For example, he said that Chinese experts are working with their counterparts from Cambodia on devising a master plan for the development of modern agriculture in his country.

As part of the plan, experts sent by the Foreign Economic Cooperation Center of the Chinese Ministry of Agriculture and Rural Affairs will help the Southeast Asian nation build up its expertise in growth of milled rice, corn, rubber, cassava, bananas, animal production and aquaculture and work toward better food security.

“This is another vivid example that China, after its success in attaining rural development, is sharing its outcomes from development through win-win cooperation with developing economies,” he said.

The Cambodian scholar also underscored the significance of China’s commitment to free trade and sharing its large domestic market with the world, especially developing countries, which will offer strong impetus to the global economic recovery.

Andy Mok, a senior research fellow at the Center for China and Globalization, a Beijing-based think tank, said China’s development is especially important for developing countries because it also provides a successful model that is based on actual experience and “not erroneous beliefs and self-serving ideologies that have led some nations astray”.

“By adhering to a path of peaceful development, China can play a positive role in avoiding or minimizing future conflicts,” he said.

He added that making greater strides in opening up is an inevitable choice for China’s future modernization efforts as opening-up provides domestic benefits for China by giving consumers a wider array of products and services while fostering a more competitive economy that leads to greater efficiency.

“China’s opening-up provides market and investment opportunities for all types of businesses around the world, ranging from Fortune 500 to small and medium-sized enterprises,” he said.

Recently, Chery signed a strategic cooperation framework agreement with CATL and the two sides will work together to carry out all-round cooperation in related fields.

According to the agreement, Chery and CATL will carry out all-round cooperation in the fields of product, business, marketing and business information resources. In addition to passenger car battery supply and technical cooperation, the two sides will also carry out joint exploration of public transport, the integration of new energy and three electric power and power exchange business in the fields of buses, logistics vehicles, heavy trucks and electric ships, so as to promote and lead the high-quality development of the industry.

This agreement signifies that Chery and CATL will make full use of their superior resources to jointly explore new energy vehicle markets at home and abroad.

Translated by Yuan Mengwen from Foreign Affairs Office of Wuhu Municipal People’s Government

On December 16, 2022, Wuhu Quality Conference was held. The meeting heard the report on the overall situation of building a city with high-quality development by carrying out quality improvement actions in our city this year, and planed provincial quality assessment for municipal government in 2022. Responsible comrades in charge of cities, counties and districts, Economic and Technological Development Zone, Sanshan Economic and Technological Development Zone and relevant municipal government institutions attended the meeting.

According to the meeting, promoting quality development is a major strategy for national economic and social development and an important way to enhance the comprehensive economic competitiveness of the city. The meeting stressed the need to take quality improvement actions as the starting point, constantly improve the system and mechanism of quality development, and further promote the innovative development of quality work in our city. Focusing on building a national demonstration city with high-quality development, the meeting urged to push forward the implementation of the strategy on developing a high quality city, and make quality contribute more to the city’s economic and social development. A mechanism of breaking down and meeting the target for quality development should be established. To meet this target, government departments should make well-coordinated efforts, carry out regular inspection, and comprehensively coordinate the construction of cities, counties and districts with high-quality development. At the same time, we should actively prepare for the quality assessment, summarize the work of promoting quality development, and make new contributions to the greater progress of the city’s quality work.

Translated by Wang Mengxiao from Foreign Affairs Office of Wuhu Municipal People’s Government

Xi Jinping, general secretary of the Communist Party of China Central Committee, Chinese president and chairman of the Central Military Commission, delivers an important speech at the annual Central Economic Work Conference in Beijing, capital of China. The conference was held in Beijing from Dec. 15 to 16. (Xinhua/Ju Peng)

BEIJING, Dec. 16 (Xinhua) — The annual Central Economic Work Conference was held in Beijing from Thursday to Friday as Chinese leaders decided priorities for the economic work in 2023.

Delivering an important speech at the conference, Xi Jinping, general secretary of the Communist Party of China Central Committee, Chinese president and chairman of the Central Military Commission, reviewed the country’s economic work in 2022, analyzed the current economic situation and arranged next year’s economic work.

Li Keqiang, Li Qiang, Zhao Leji, Wang Huning, Han Zheng, Cai Qi, Ding Xuexiang and Li Xi attended the conference.

It was noted at the meeting that an overall recovery and improvement is expected in the country’s economic performance in the next year, and that a firm confidence is necessary to do a good job in the economic work.

The meeting demanded making economic stability a top priority and pursuing steady progress while ensuring economic stability for the next year.

Proactive fiscal policy and prudent monetary policy will continue to be implemented next year. Meanwhile, efforts will be made to intensify macro-control and coordinate various policies to form synergy for high-quality development, according to the meeting.

The proactive fiscal policy should be stepped up for its effectiveness, with a better mix of tools including fiscal deficits, special-purpose bonds and interest subsidies. While high-quality development should be effectively supported, fiscal sustainability must be ensured and local government debt risks should be controllable, the meeting noted.

The prudent monetary policy should be targeted and effective, with reasonable and sufficient liquidity to be maintained and stronger support from financial institutions for micro and small businesses, technology innovation and green development.

The yuan’s exchange rate should be kept basically stable at an appropriate and balanced level, and the systems to safeguard financial stability should be reinforced, according to the meeting.

The meeting stressed that industrial policies should be optimized to facilitate the transformation and upgrading of traditional industries and the cultivation and growing of strategic emerging industries, as well as shore up the weak links in industrial chains and forge new competitive advantages in the country’s pursuit of carbon peaking and neutrality goals.

In terms of science and technology policies, China will carry out an array of national-level major science and technology projects, giving full play to the role of government in leading the work on making breakthroughs in key and core technologies and highlighting the principal role of enterprises in technological innovation, said the meeting.

Social policies should ensure people’s livelihood, put promoting the employment of young people, especially college graduates, in a more prominent position, and strive to mitigate the impacts of structural price rises on some of those in difficulty in a timely and effective manner.

The country will optimize childbirth support policies and seek to gradually postpone the statutory retirement age when time is right and take the initiative to cope with population aging and low fertility rate, it noted.

The meeting stressed better coordinating epidemic prevention and control with economic and social development, urging efforts to optimize epidemic response based on time and situation and focus on the elderly and those with underlying diseases.

Stronger coordination should be also achieved between qualitative and quantitative growth, between supply-side structural reform and domestic demand expansion, as well as between economic policies and other policies, the meeting said.

To foster a new development paradigm, the endogenous dynamics and reliability of domestic circulation should be strengthened, while the quality of international circulation should be elevated.

The meeting also stressed the need to handle current work well and at the same time take future development into consideration.

Pointing out that there are a multitude of tasks in the economic work in 2023, the meeting underlined moves to improve public expectations and boost confidence for development.

The country will focus on boosting domestic demand next year by prioritizing the recovery and expansion of consumption, increasing urban and rural personal income through multiple channels and encouraging more private capital to participate in the construction of key national projects, said the meeting.

China will accelerate the building of a modern industrial system, according to the meeting. Efforts will be made to identify the weak links in key and core technologies as well as components and parts in the country’s major manufacturing industrial chains, and pull together resources to tackle the problems so that the industrial system is independent, controllable, safe and reliable, said the meeting.

Efforts will also be made to speed up the planning and construction of a new energy system, enhance the global competitiveness of traditional industries, accelerate the research and application of cutting-edge technologies, and vigorously develop the digital economy.

The meeting urged efforts to deepen the reform of state-owned enterprises (SOEs) while improving their core competitiveness, requiring that legal and institutional arrangements must be made to ensure the equal treatment of private enterprises and SOEs.

Law-based protection will be provided to the property rights of private enterprises and to the interests of entrepreneurs, the meeting said.

The country will make greater efforts to attract and utilize foreign capital, widen market access, promote the opening-up of modern service industries, and grant foreign-funded enterprises national treatment, the meeting said.

China will actively seek to join the high-standard economic and trade agreements such as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership and the Digital Economy Partnership Agreement, the meeting said.

The meeting also stressed effectively forestalling and defusing major economic and financial risks, promoting the steady development of the property market, ensuring timely deliveries of pre-sold housing and meeting the reasonable financing demand of the sector.

Efforts need to be made to effectively prevent and defuse risks of high-quality and industry-leading developers and improve debt-to-asset ratio of the real estate sector, said the meeting.

People’s basic housing needs and the need for improved housing conditions should be met, while a long-term rental housing market is to be explored.

Sticking to the principle that “housing is for living in, not for speculation,” the country is seeking to promote a smooth transition of the real estate industry to new development models, according to the meeting.

The meeting stressed the necessity to adhere to the centralized, unified leadership of the CPC Central Committee over financial work, and called for efforts to prevent and defuse local government debt risks.

Rural revitalization will be advanced across the board, ensuring that people do not return to impoverishment in large numbers. The high-quality development of the Belt and Road Initiative will also be promoted.

For an economy of China’s size, it is vital to maintain a stable economic performance. Efforts will be made to stabilize growth, employment, and prices so that major economic indicators will stay within an appropriate range, the meeting noted.

The innovation and creativity potential of the whole society should be unleashed to the greatest extent, according to the meeting.

The potential of the domestic market will also be fully tapped so that domestic demand can play a stronger role in driving economic growth.

The construction of major projects to shore up weaknesses will be pushed forward, with a focus on economic development and the urgent needs of the people.

Chinese Premier Li Keqiang attends the Seventh “1+6” Roundtable in Huangshan of East China’s Anhui province December 9, 2022. [Photo/Xinhua]

Participants in the Seventh “1+6” Roundtable have agreed on the importance of working together and staying on the path of multilateral and international cooperation to address the many severe challenges facing the global economy today.

They also expressed opposition to decoupling or fragmentation of global trade, saying that it will be costly for the world.

The roundtable, held in Huangshan, Anhui province, under the theme of “Strengthening Multilateral Cooperation for Global Common Development”, was the first in-person one since the start of the COVID-19 pandemic.

Discussions were held between Premier Li Keqiang and the heads of six major international economic organizations, including the World Bank, the International Monetary Fund and the World Trade Organization.

“We held this roundtable to show our commitment to safeguarding multilateral cooperation and to shore up confidence in global development,” Li told reporters at a news conference after the meeting.

The IMF’s World Economic Outlook, released in October, forecasts that global growth will slow from 6 percent in 2021 to 3.2 percent in 2022 and 2.7 percent in 2023.

Noting that many countries face challenges such as high inflation and problems in food and energy security, Li said it remains important not to slow the steps in building a more open world economy.

As a beneficiary and promoter of global opening-up, China firmly supports the steady growth of the global economy in the process of opening-up, he said, and the country will also continue to advance high-quality opening-up and steadily expand institutional opening-up.

“We welcome businesses from all countries to expand trade with their Chinese partners and we welcome more foreign companies to come to China for investment and operation,” Li said.

According to the premier, China’s economy has made an extraordinary journey this year, in particular with the impact of COVID-19 and other factors beyond expectation.

After the adoption of a package of policies, the economy has been picking up and now maintains overall stability, he said.

“Going forward, we will take further measures to keep transportation and logistics open, ensure secure industrial and supply chains, and facilitate international travel and people-to-people exchanges,” Li said.

Starting in 2016, the “1+6” Roundtable has been held for seven consecutive years. Its purpose is to show to the world that China is taking concrete actions to promote global opening-up, Li said.

IMF Managing Director Kristalina Georgieva noted the importance of strengthening multilateral cooperation during these particularly challenging times, saying that the world economy today is like “a boat in rough waters”.

“We can only bring our boat safely to shore if we all row together in the same direction,” she said.

Ngozi Okonjo-Iweala, director-general of the WTO, said that it is estimated that if the world were to fragment into two trading blocs, it would result in a 5 percent loss in global GDP in the longer term.

BEIJING, Dec. 10 (Xinhua) — For the past three years, China has effectively coordinated COVID-19 prevention and control with economic and social development, with positive results seen and new achievements made on the two fronts, making it a reliable and important driving force of global economic growth.

Specifically, China has maintained the overall stability of its economy, ensured grain supply, kept industrial and supply chains basically stable, and effectively protected people’s lives and health.

Globally, there have been over 641 million confirmed cases of COVID-19, including 6.62 million deaths, reported to the World Health Organization, while the incidence rate and the death toll of COVID-19 in China have been the lowest among major countries.

Effective virus control helped China emerge from the epidemic-induced slump, with its economy growing at an average annual rate of more than 5 percent over the past two years, better than the global average.

In 2020, China was among the first countries in the world to resume work and reopen businesses, and registered a 2.3-percent gross domestic product (GDP) growth, making it the world’s only major economy to attain positive growth.

Its GDP crossed the 100-trillion-yuan (about 14.37 trillion U.S. dollars) threshold in 2020 and further expanded to over 114 trillion yuan in 2021, contributing over 30 percent to world economic growth.

For 2022, the country has spared no effort to consolidate the upward trend of economic recovery, keep employment and prices stable, and strive for the best possible outcome in economic work.

The past three years were unusual and extraordinary for China as it has withstood multiple tests. However, China has historically eradicated absolute poverty, significantly expanded the size of the middle-income group, completed the building of a moderately prosperous society in all respects, and embarked on a new journey of building a modern socialist country in all respects.

In particular, China, the world’s most populous country, is making every effort to ensure grain supply amid growing uncertainties in global food security.

The country’s grain output topped 650 billion kg for seven consecutive years by 2021, with the per capita grain supply remaining higher than the internationally recognized security line. This year, China has seen output increases in summer grain and early rice and expects another bumper harvest.

As the world’s manufacturing powerhouse, China boasts the world’s biggest and most complete industrial system, making it a key contributor to global industrial chains.

In 2020, China’s export of medical supplies maintained steady and orderly growth, offering stronger support to the global society in fighting the COVID-19 epidemic. Meanwhile, Chinese manufacturing’s added value accounted for 28.5 percent of the global total.

Nowadays, the global economy faces various challenges, and China has offered solid support related to raw materials, production capacity, logistics, and sales for both domestic and foreign companies. By strengthening the resilience of industrial and supply chains, China has helped ease the inflation pressure globally.

Meanwhile, China’s determination to open up further to the outside world remains unwavering, providing enormous opportunities for the rest of the world.

In the first 11 months of this year, China’s trade in goods expanded 8.6 percent year on year to 38.34 trillion yuan, according to the General Administration of Customs.

The new momentum deriving from deepened efforts in advanced manufacturing has played a solid role in boosting growth. The Belt and Road Initiative, the Regional Comprehensive Economic Partnership, the pilot Free Trade Zone and other major institutional innovations have injected impetus and vitality into the high-quality development of foreign trade, said Zhuang Rui, a professor at the University of International Business and Economics.

The country has also continued widening market access and shortening the negative list for foreign investment. It has put into force the Foreign Investment Law, which took effect on the first day of 2020, to protect foreign investors’ legitimate rights and interests.

Backed by these endeavors, China has retained its strong appeal to foreign businesses despite gloomy investment sentiment around the globe. Foreign direct investment in the Chinese mainland, in actual use, went up 17.4 percent year on year to 168.34 billion U.S. dollars in the first 10 months, official data showed.

Next year, the country will pay special attention to ensuring steady growth, employment, and prices, forestall and defuse major risks effectively, and strive to achieve an overall improvement in the country’s economic performance, characterized by higher quality and reasonable growth, according to a meeting convened by the Political Bureau of the Communist Party of China Central Committee on Tuesday.

China’s economy will still face challenges next year, said Yang Zhiyong, a researcher with the Chinese Academy of Social Sciences. “The meeting urged strengthening policy coordination, which will help maintain policy intensity, and focus on sustained efforts in key areas to ensure steady development and reasonable growth next year.

International Monetary Fund Managing Director Kristalina Georgieva said that they had forecast 3.2 percent growth in China’s economy in 2022, improving to 4.4 percent in 2023.

China has fiscal space to boost its economy and counter the downward pressure, Georgieva said, adding that the country is also looking at moving toward a more targeted response for epidemic prevention and control, which could help reduce supply chain interruptions and counteract slowing growth.

The ashes of Comrade Jiang Zemin, who passed away in Shanghai on Nov 30 at the age of 96, were scattered in the sea at the estuary of the Yangtze River on Sunday, in accordance with the wishes of Jiang and his family. [Photo/Xinhua]

The ashes of Comrade Jiang Zemin, who passed away in Shanghai on Nov 30 at the age of 96, were scattered in the sea at the estuary of the Yangtze River on Sunday, in accordance with the wishes of Jiang and his family.

Jiang was an outstanding leader enjoying high prestige acknowledged by the whole Communist Party of China, the entire military and the Chinese people of all ethnic groups. His remains were cremated on Dec 5 in Beijing, followed by a grand memorial meeting the next day to mourn and pay respect to him.

Entrusted by the CPC Central Committee, Cai Qi, a member of the Standing Committee of the Political Bureau of the CPC Central Committee and a member of the Secretariat of the CPC Central Committee, and Jiang’s widow, Wang Yeping, and other relatives escorted Jiang’s ashes for the ashes-scattering ritual.

Earlier in the morning, Jiang’s ashes were carried by a hearse from Zhongnanhai, the central headquarters of the CPC and the State Council, where Jiang had worked as a Party and State leader, to Xijiao Airport in Beijing. Jiang’s ashes were later flown by a special plane to Shanghai’s Hongqiao International Airport, where his ashes were transferred by a hearse to the military vessel CNS Yangzhou at a military port. Yangzhou, Jiang’s hometown, is a city in Jiangsu province.

At 12:35 pm, Cai joined Jiang’s widow and other family members in scattering Jiang’s ashes in the waves, along with flower petals, from aboard the military vessel.

Jiang was hailed as a great Marxist and a great proletarian revolutionary, statesman, military strategist and diplomat.

He was the core of the third generation of the Party’s central collective leadership and the principal founder of the Theory of Three Represents, which defines the role of the Party and stresses that the Party must always represent the requirements for developing China’s advanced productive forces, the orientation of China’s advanced culture and the fundamental interests of the overwhelming majority of the Chinese people.

In recent days, in accordance with the requirements of the Ministry of Transport’s Notice on Further Optimizing the Implementation of the Novel Coronavirus Epidemic Prevention and Control of Transport, the Municipal Transport Management Center in Wuhu promptly publicized and guided the road passenger transport enterprises to further optimize nucleic acid testing and inspection measures, ensure the orderly transport services smooth traffic logistics, strengthen the protection of employees, and maintain the normal production order.

Up to now, 92% of the inter-city passenger lines in Wuhu have resumed operation; The restoration of inter-provincial routes has been gradually started, with the current recovery rate reaching 46%. Among them, the passenger volume of Wuhu Bus Station has reached a high level in the past three months. Two inter-provincial passenger lines and seven inter-municipal passenger lines have been restored, and the daily passenger volume has recovered to 1,200. Inter-city passenger lines from the station to Wuwei have all resumed operation, and lines to Qingdao, Shitai, Hefei, Lujiang, Tongling, Bengbu, Fuyang, Lu ‘an and Ma ‘anshan have all resumed operation. According to the analysis, although the road passenger volume of our city is still at a low level, the national policy has not restricted the flow of passengers and buses, and the overall passenger flow will increase steadily with the return of college students, migrant workers and other business groups.

Translated by Yuan Mengwen from Foreign Affairs Office of Wuhu Municipal People’s Government

It is learned from Chery Holding Group that in November, Chery Group sold 100,531 vehicles, and the monthly sales exceeded 100,000 vehicles for the sixth consecutive month of the year. From January to November, Chery sold a total of 1,127,289 vehicles, up 32.6% year-on-year, hitting a record high in history.

Chery Group, which is actively implementing its go-global strategy, has accelerated from “going global” to “integrating into the global market” and then to “expanding the global market”, and has become a partner with more and more overseas dealers and outstanding enterprises in the global automobile industry chain to jointly explore overseas markets. Since the beginning of this year, Chery Group has successively broken the record of exporting Chinese brand passenger cars, with its monthly export exceeding 50,000 vehicles for four months. By the end of November, Chery exported a total of 406,540 vehicles, an increase of 70.9% year-on-year, setting another new record for Chinese brand passenger cars going global.

Chery Group sold 13,025 new energy vehicles in November, with a total sales of 220,918 vehicles for 11 months, up 147.9% year-on-year. Based on iCar’s ecological service model, Chery’s new energy vehicles ranked first in new energy brands with a customer satisfaction score of 87.21 points in the 2022 “China Automobile After-sales Customer Satisfaction” (CAACS) Research published in November.

Translated by Wang Mengxiao from Foreign Affairs Office of Wuhu Municipal People’s Government