Economic Overview - The "924" policy has shown resilience in the Chinese economy amidst complex domestic and international environments, with macroeconomic policies stabilizing growth and prices[4] - The need to reassess the 5.0% growth target based on economic momentum and to prioritize employment in policy adjustments is emphasized[5] Consumption and Retail - Social retail sales grew by 4.6% year-on-year as of August 2025, a 1.2 percentage point increase from August 2024, aligning with the 5.0% economic growth target[6] - Specific retail categories such as home appliances and communication equipment saw significant growth, with increases of 28.4% and 22.3% respectively compared to the previous year[6] Investment Trends - Fixed asset investment growth was only 0.5% year-on-year as of August 2025, a decline of 2.9 percentage points from August 2024, primarily due to a 12.9% drop in real estate investment[9] - Infrastructure and manufacturing investments also saw declines of 2.5 and 4 percentage points respectively, indicating limited effectiveness of investment policies[9] Trade Performance - Total goods import and export volume increased by 2.5% year-on-year as of August 2025, with exports rising by 5.9%, a 1.2 percentage point increase from the previous year[10] - Exports of electromechanical products grew by 9.2%, accounting for 60.2% of total exports, showcasing resilience in external trade[10] Capital Market Stability - The Shanghai Composite Index rose by 39% year-on-year to 3821.83 points as of September 23, 2025, while the ChiNext Index surged by 103%[12] - The ten-year government bond yield decreased by 0.16 percentage points to 1.877%, reflecting a stable capital market environment[12] Employment and Structural Challenges - The urban unemployment rate averaged 5.18% from January to August 2025, a slight increase from the previous year, indicating challenges in job creation[17] - The youth unemployment rate for ages 16 to 24 rose to 16.43%, highlighting the need for targeted employment strategies[17] Policy Recommendations - Future policies should shift focus from "scale stimulus" to "employment priority" to achieve high-quality economic development[22] - Fiscal policies must prioritize job creation, with proposals for special funds to support new employment initiatives and tax incentives for businesses hiring new employees[27][28]

Core Viewpoint - Shandong Province has introduced 13 measures to stabilize employment, focusing on supporting unemployed individuals, college graduates, entrepreneurs, and disadvantaged groups [1][2] Group 1: Employment Support Measures - The new measures include four main areas: supporting enterprises to stabilize job positions, providing assistance to key groups, enhancing skills training for job matching, and optimizing services in the employment market [2] - Specific policies for enterprises include a 25% subsidy on individual social insurance contributions for key groups in small and medium-sized enterprises that sign contracts for over one year [2] - The unemployment insurance return rate for large enterprises has increased from 30% to 50%, while for small and medium-sized enterprises, it has risen from 60% to 90% [2] Group 2: Targeted Groups for Employment Assistance - The focus is on four key groups: unemployed individuals, college graduates, entrepreneurs, and low-income populations [3] - For unemployed individuals, a service system has been established to ensure timely access to support policies and services, with 406,000 unemployed individuals finding re-employment from January to August, a 3.9% increase year-on-year [3] - The "Lu Hui Le Ye" initiative aims to provide various benefits to college graduates, including academic, accommodation, and living support [3] Group 3: Skills Training and Job Matching - Shandong Province has increased the subsidy standards for vocational training, with higher subsidies for those who achieve employment within six months after training [3] - On-the-job training for employees is being widely implemented, and a "green channel" for enrollment is available for unemployed individuals wishing to enhance their skills [3] Group 4: Optimizing Employment Services - The province is enhancing employment services by integrating public employment agencies with private human resource services, conducting online and offline recruitment activities [4] - The "Stabilizing Jobs and Supporting Enterprises" initiative has helped 114,000 enterprises resolve labor needs for 613,000 positions this year [4] - A total of 59.88 billion yuan has been allocated for employment-related funding this year, with a focus on supporting enterprises, key groups, and skill enhancement [4]

Core Viewpoint - The launch of the "China-Europe Arctic Express" shipping route marks a significant development for Chinese foreign trade, providing a new maritime artery directly connecting to the European market, enhancing logistics efficiency, and reducing costs for businesses amid geopolitical tensions and tariff pressures [1][5]. Group 1: Logistics Efficiency and Cost Reduction - The new shipping route significantly shortens the delivery time to Europe, with logistics costs previously accounting for nearly half of the product value, now expected to decrease [1][3]. - For example, shipping from Yiwu to Germany via traditional sea routes takes about 40 days, while the new Arctic route is projected to be faster and more cost-effective [2][3]. - Logistics costs for many foreign trade companies can represent 20% to 30% of total costs, making any reduction impactful on profitability [3][4]. Group 2: Trade Growth and Market Access - Yiwu's trade with the EU has seen substantial growth, with imports and exports reaching 57.39 billion yuan from January to August this year, a year-on-year increase of 27.6% [1]. - The Arctic route is expected to facilitate the entry of "Made in China" products into Europe more rapidly, catering to the growing demand for timely deliveries, especially for seasonal goods [7][8]. - The new route is positioned as a viable alternative to traditional shipping methods, appealing to cross-border e-commerce and high-value goods like electric vehicle batteries [7][8]. Group 3: Geopolitical and Strategic Implications - The Arctic route enhances China-Russia maritime cooperation, contributing to the development of the "Belt and Road Initiative" and the "Ice Silk Road" concept [5][6]. - The route is seen as a strategic response to global geopolitical challenges, allowing China to strengthen its logistics network and maintain trade stability [6][7]. - The development of the Arctic shipping corridor is part of a broader Russian initiative to modernize infrastructure and increase cargo capacity in the region, with projections of over 100 million tons of annual cargo by 2030 [6].

前8个月广东东莞市外贸进出口破万亿元 广告等商务合作，请点击这里 本文为转载内容，授权事宜请联系原著作权人 中新经纬版权所有，未经书面授权，任何单位及个人不得转载、摘编或以其它方式使用。 关注中新经纬微信公众号(微信搜索"中新经纬"或"jwview")，看更多精彩财经资讯。 民营企业拉动外贸作用显著。前8个月，东莞市民营企业进出口6426.3亿元，同比增长22.4%，占同期东 莞市进出口总值的62.7%。 机电产品进、出口实现双增长。前8个月，东莞市出口机电产品4394.3亿元，同比增长13%，占同期东 莞市出口总值的69.8%；进口机电产品3446亿元，同比增长33.6%，占同期东莞市进口总值的87%。(完) 来源：中国新闻网 编辑：张嘉怡 中新网东莞9月23日电 (许青青 周婕)据黄埔海关23日消息，今年前8个月，广东省东莞市外贸进出口1.03 万亿元(人民币，下同)，同比增长14.6%。其中，出口6296.8亿元，同比增长9%；进口3959.2亿元，同 比增长24.9%。 8月份，东莞市出口值达873.6亿元，创2022年10月份以来新高，同比连续15个月保持正增长。 数据显示，东莞对新兴市场开拓有成。 ...

(活力中国调研行)制度型开放推动海南外向型经济蓬勃发展 中新网海口9月23日电 (记者 贾靖峰 张茜翼)自2020年以来，海南实际使用外资1025亿元，年均增长 14.6%；新设外资企业8098家，年均增长43.7%；境外直接投资97.8亿美元，年均增长97%；货物贸易、 服务贸易年均增长31.3%和32.3%。 在正于此间举行的"活力中国调研行"海南主题采访活动上，海南省商务厅副厅长余翔披露的上述统计数 据显示了海南外向型经济的蓬勃发展。 图为多架进境维修飞机正在海南自贸港一站式飞机维修产业基地内进行全面检修。 中新网记者 骆云飞 摄 "176个国家和地区在琼投资，经济外向度提高到35%。"余翔表示，正是在一系列开放制度的推动下， 海南外向型经济实现了蓬勃发展。 2020年6月1日发布的《海南自由贸易港建设总体方案》提出，聚焦贸易投资自由化便利化，建立与高水 平自由贸易港相适应的政策制度体系。为此，海南自贸港5年来着力推进制度型开放。 作为海南首创性政策，加工增值货物内销免关税政策2021年在洋浦保税港区试点，现已逐步推广至海南 自贸港全岛实施。具体而言，此项政策就是对海南自由贸易港内鼓励类产业企业生产的含 ...

Group 1: Trade Performance - In the first seven months of the year, China's goods trade import and export totaled 25.7 trillion yuan, a year-on-year increase of 3.5% [1] - In July alone, the total value of goods trade reached 3.91 trillion yuan, growing by 6.7% year-on-year [1] - High-tech and high-value-added products have become the main drivers of trade growth [1] Group 2: Structural Changes - Trade diversification has shown significant results, with rapid growth in trade with emerging markets such as Southeast Asia and Africa [1] - The number of trade entities has expanded, with private enterprises maintaining their position as the main force in foreign trade [1] - Service trade has achieved breakthrough growth, with knowledge-intensive services maintaining a surplus [1] Group 3: Regional Contributions - Zhejiang province's cross-border e-commerce ecosystem supported foreign trade development, with a total import and export value of 2.73 trillion yuan in the first half of the year, up 6.6% [1] - Fujian's foreign trade is driven by new energy and basic materials, with lithium battery exports reaching 76.461 billion yuan, a year-on-year increase of 23.96% [1] Group 4: Challenges and Future Outlook - High concentration in export markets, similar industrial structures, and severe homogenization competition remain persistent issues for China's foreign trade [2] - There is a need for multi-faceted measures to maintain stable and progressive foreign trade, enhancing quality and quantity [2] - Emphasis on increasing technological content in products and supporting strategic emerging industries through R&D and financing [2] Group 5: Service Trade and Digitalization - Encouragement for "China services" to go global, supporting the integration of service trade with goods trade [3] - Development of overseas logistics platforms and warehouses to enhance local service capabilities of Chinese brands [3] - Establishment of a digital comprehensive service platform for offshore trade to streamline data and regulatory processes [3] Group 6: Global Governance and Standards - Active participation in global economic governance to enhance China's voice in international trade rule-making [4] - Support for a multilateral trade system centered around the World Trade Organization and participation in emerging topics like digital trade [4] - Encouragement for domestic enterprises and industry associations to engage in international standardization activities [4]

根据党中央统一部署，2024年4月15日至7月19日，中央第五巡视组对商务部党组开展了常规巡视。2024 年10月19日，中央第五巡视组向商务部党组反馈了巡视意见。按照巡视工作有关要求，现将巡视整改进 展情况予以公布。 一、党组履行巡视整改主体责任情况 商务部党组深入学习贯彻习近平总书记关于党的建设的重要思想、关于党的自我革命的重要思想以及关 于巡视整改的重要讲话精神，坚持把抓好巡视整改作为一项重大政治任务，深刻领悟"两个确立"的决定 性意义，坚决做到"两个维护"，把巡视整改与贯彻落实党的二十届三中全会和中央经济工作会议精神结 合起来，与纵深推进全面从严治党结合起来，扎实做好"后半篇文章"，以整改实效推动商务高质量发 展。 （一）坚持思想引领，强化整改政治自觉。部党组召开会议，深入学习贯彻习近平总书记听取二十届中 央第三轮巡视情况汇报时的重要讲话精神，研究部署巡视整改工作。深学细悟习近平总书记关于巡视工 作重要论述，认真学习贯彻《中国共产党巡视工作条例》，切实把思想和行动统一到党中央决策部署上 来，坚持问题导向、动真碰硬，以严肃态度、有力举措、扎实作风全力抓好整改落实。 （二）坚持以上率下，健全整改工作机制。 ...

Economic Growth - Chengdu's industrial added value increased by 7.8% year-on-year from January to August [1] - The product sales rate of industrial enterprises above designated size in Chengdu was 96.4% during the first eight months [1] Industrial Performance - State-owned enterprises' added value grew by 5.0%, while private enterprises saw an increase of 11.1% [1] - Out of 37 major industries, 23 experienced growth in added value [1] - The automotive manufacturing industry grew by 20.9%, computer, communication, and other electronic equipment manufacturing increased by 15.8%, and electrical machinery and equipment manufacturing rose by 10.2% [1] Key Industrial Products - Production of new energy vehicles surged by 283.3%, smartwatches increased by 91.6%, and lithium-ion batteries grew by 38.6% [1] Fixed Asset Investment - Fixed asset investment in Chengdu (excluding rural households) increased by 3.3% year-on-year from January to August, with private investment growing by 6.6% [1] - Investment in the primary industry rose by 19.0%, while the secondary industry saw a growth of 21.3%, with industrial investment increasing by 21.7% [1] Consumer Market - Chengdu's total retail sales of consumer goods reached 739.28 billion yuan, a year-on-year increase of 6.2% [2] - Restaurant income was 90.42 billion yuan, growing by 4.9%, while commodity retail reached 648.86 billion yuan, increasing by 6.4% [2] - Notable growth in hot products included gold and silver jewelry at 42.9%, home appliances and audio-visual equipment at 23.7%, and sports and entertainment products at 25.9% [2] Foreign Trade - Chengdu's foreign trade import and export totaled 566.98 billion yuan, a year-on-year increase of 4.9% [2] - Exports amounted to 328.86 billion yuan, growing by 10.6%, while imports reached 238.12 billion yuan [2]

Core Viewpoint - Liaoning's foreign trade has shown resilience and growth in the first eight months of the year, with exports reaching a historical high, indicating a positive trend in the province's economic recovery and competitiveness in the global market [1][2]. Trade Performance - The total foreign trade value of Liaoning reached 501.94 billion yuan, with a year-on-year growth of 0.1% [1]. - Exports amounted to 267.67 billion yuan, marking an 11.6% increase year-on-year, achieving the highest export value for the same period in history [1]. - General trade dominated the trade methods, accounting for 64.8% of the total, while processing trade and bonded logistics made up 19.2% and 14.8%, respectively [1]. Enterprise Contribution - Private enterprises led the foreign trade sector with an import and export value of 259.78 billion yuan, a year-on-year increase of 11.1%, representing 51.8% of the total foreign trade value [1]. - Foreign-invested and state-owned enterprises contributed 174.78 billion yuan and 66.67 billion yuan, accounting for 34.8% and 13.3% of the total, respectively [1]. Trade Partners - ASEAN emerged as the largest trading partner for Liaoning, with a trade volume of 81.63 billion yuan, reflecting a significant year-on-year growth of 33.6% [1]. - Trade with the EU, although declining, remained substantial at 77.88 billion yuan [1]. Export Composition - Mechanical and electrical products dominated exports, totaling 135.65 billion yuan, a 9.4% increase, constituting 50.7% of total exports [2]. - Key products included electrical equipment and auto parts, with exports of 13.03 billion yuan and 9.79 billion yuan, growing by 14.6% and 10.6%, respectively [2]. - Steel exports reached 25.69 billion yuan, up 5.7%, while agricultural and labor-intensive products also showed positive growth [2]. Import Trends - Imports were affected by fluctuations in commodity prices, particularly for crude oil and metal ores, but some categories like organic chemicals saw positive growth [2]. Economic Outlook - The positive growth in foreign trade amidst a complex global economic landscape highlights Liaoning's economic resilience and signals a recovery trend [2].

Core Insights - The total foreign trade import and export value of Liaoning Province reached 501.94 billion yuan in the first eight months of this year, reflecting a year-on-year growth of 0.1% [1] - The export value of the province amounted to 267.67 billion yuan, marking a significant year-on-year increase of 11.6%, which is the highest export value recorded for the same period historically [1] - Mechanical and electrical products dominated the export category, accounting for 135.65 billion yuan in exports, which represents a year-on-year growth of 9.4% and constitutes 50.7% of the total export value for the province during the same period [1]