Extensive Plan for Digital Finance Growth

The People's Bank of China and six other governmental departments have jointly released an action plan aimed at promoting the high-quality development of digital finance by 2027. The announcement, made on November 27, outlines a framework to establish a financial system that is highly compatible with the growth of the digital economy.

Global Cross-Border Data Flow Cooperation Initiative Released

To promote global cooperation on cross-border data flow and ensure that the benefits of digital advancements are shared by people worldwide, China has officially released the full text of the Global Cross-Border Data Flow Cooperation Initiative at the 2024 World Internet Conference Wuzhen Summit.

Sci-tech Popularization Law to Be Revised

Green Energy Use Gets Boost

Promoting green transition of production and life via the use of renewable energy is the focus of a new plan by the National Development and Reform Commission, China's top economic planner, along with five other departments.The plan's guidelines put forward several major tasks, including enhancing the renewable energy supply capability and accelerating the application of renewable energy in key areas such as industry, transportation, agriculture and rural areas.

Urgent Shift to National Digitization, Greenification

China has released a comprehensive blueprint aimed at fostering the synergistic transformation and development of digitization and greenification across various regions and industries.

Document Supports Substitutes for Endangered TCM Herbs

The National Medical Products Administration (NMPA) and the National Administration of Traditional Chinese Medicine recently co-issued a document to support the development of substitutes for rare and endangered traditional Chinese medicine (TCM) herbs.

Upskilling Industrial Workforce

China released a guideline to deepen reforms in the building of its industrial workforce, aiming to cultivate approximately 2,000 national-level master artisans, 10,000 provincial-level master artisans, and 50,000 municipal-level master artisans by 2035, thus providing a robust talent base and skill support for the country's modernization drive.

Economic-Tech Zones Lead China's Opening-up

China's National Economic and Technological Development Zones (ETDZs) were born from the country's reform and opening-up policies. This year marks the 40th anniversary of the zones, which have consistently pushed for expanding openness, deepening reforms, and driving innovation.

Guideline to Speed Up Use of Data Resources

Recently, the general offices of the Communist Party of China Central Committee and the State Council released a guideline to accelerate the development and utilization of public data resources. This initiative seeks to unlock the potential of public data as an essential element in driving high-quality economic growth.

Rural Health Services Set for Upgrade

A comprehensive roadmap for transforming the rural health landscape is the base of a new set of guidelines by the China National Health Commission and 13 other related departments.

More Measures to Facilitate Foreign Investment

As part of China's commitment to expanding opening up and promote free trade, the country has introduced a host of new policies to lift restrictions on foreign investment (FI), especially in the manufacturing and medical sectors.

Developing New Information Infrastructure in Coordination

The Ministry of Industry and Information Technology, along with 10 other government bodies, have issued a notice to promote the coordinated development of new information infrastructure on September 4. Combined with the growing technological trend of new information infrastructure and the needs of socioeconomic development, the notice clearly strengthens development in seven aspects, including national overall layout, cross-regional coordination, and cross-network coordination.

White Paper Underscores China's Energy Transition

China's State Council Information Office has released a white paper titled "China's Energy Transition," detailing the achievements made over the past decade in this area.

Shenzhen Releases Virtual Power Plant Regulation and Management Cloud Platform 3.0

The Shenzhen Municipal Development and Reform Commission and the Shenzhen Power Supply Bureau of China Southern Power Grid Company recently released a virtual power plant regulation and management cloud platform 3.0.

Full Speed Ahead for New Power System

Accelerating the construction of a new power system is on the cards after a comprehensive strategy was released by China's National Development and Reform Commission (NDRC), the National Energy Administration (NEA), and the National Data Bureau on August 6, detailing nine special actions to achieve tangible results in building a new power system by 2027.

New Guideline to Refine Market Access

Innovation Credit System to Motivate High-tech SMEs

The Innovation Credit System (ICS), piloted in 2020, is set for an upgrade and expansion.

Green Data Centers to Become Reality

Support Program for SME Tech Innovation

Small and medium-sized enterprises recently got a shot in the arm after the release of a special program to support them in technological innovation, through a governmental financing guarantee system.

Coal Power Gets Green Makeover

An action plan for the low-carbon transformation and construction of coal power (2024-2027) has recently been released by the National Development and Reform Commission and the National Energy Administration.