Major dairy companies, each with annual operating revenue of at least 20 million yuan (2.99 million U.S. dollars), produced about 2.76 million tonnes of dairy products last month, data from the Ministry of Industry and Information Technology showed. Household dairy consumption jumped in China during the past two years, with per capita consumption rising 11.8 percent year on year to 42.3 kg in 2021. The country's output of dairy products is expected to reach nearly 54 million tonnes in 2031.

The issuance of treasury bonds reached 561.62 billion yuan, and the issuance of local government bonds came in at about 1.21 trillion yuan, according to data from the People's Bank of China. In May, financial bond issuance stood at 556.24 billion yuan, and corporate bond issuance hit 759.54 billion yuan. The issuance of asset-backed securities totaled 10.39 billion yuan, and that of interbank deposit certificates reached 1.77 trillion yuan.

Implementation of these policies is expected to stimulate vehicle and related sales by about 200 billion yuan ($29.83 billion) this year. Measures will be taken to promote the sales of used cars. From Aug 1, China will remove restrictions on the cross-regional transfer of secondhand vehicles that meet national emission standard V. Auto sales companies that apply for transfer registration will be managed separately and issued temporary license plates starting from Oct 1.

Targeting ecological projects listed among the country's 102 major projects for the 14th Five-Year Plan period (2021-2025), China's Ministry of Ecology and Environment stressed the need to accelerate the advancement of projects related to air, water, soil, solid waste pollution control, and nuclear and radiation security supervision. The ministry also underlined measures to ramp up more accurate financial support for ecological and environmental protection projects. Project reserves will be established to include ecological and environmental protection projects, as well as key national projects related to climate change. Efforts will be made to improve the accuracy of financial funding matches for these projects.

As a key oil and natural gas infrastructure project, the Changqing oilfield Sudong 39-61 natural gas storage cluster was officially put into operation on 26 June. The facility has a designed capacity of 2.23 billion cubic meters and an operational gas volume of 1.08 billion cubic meters. The China National Petroleum Corp mentioned that the facility could increase about 3.5 million cubic meters of natural gas supplies every day for the winter peak in 2022. After reaching the designed capacity, the storage can increase about 12 million cubic meters of natural gas supplies every day. The facility can store surplus natural gas in summer and autumn when demand is low, while supplying it in peak seasons of winter and spring, thus contributing to alleviating the supply shortage of natural gas in certain periods of the year.

With the bursting sound of a whistle, cargo ship Dongchen Qingdao set sail on June 18 from Qingdao in East China's Shandong Province, carrying about 150 standard containers, including textiles, electronic products and precision parts and other goods. After a 36-hour journey, the ship arrived at Osaka South Port in Japan, marking the first successful voyage of the China-Japan marine "golden channel" from Qingdao to Osaka. This is the first fast logistics route between a city in northern China and Japan. The opening of the Qingdao-Osaka express line reflects the close economic ties between the two countries and the strong demand for cooperation, as the bilateral trade amounted to $371.4 billion last year.

The latest projects include floodgate reconstruction in the lower reaches of the Yellow River, reservoir construction in Central China's Hunan Province and river management in East China's Anhui Province. China has been accelerating water conservation projects this year. In the first quarter, 107.7 billion yuan was invested, up 35 percent year-on-year. In the first five months, investment reached 310.8 billion yuan, up 54 percent year-on-year, according to data from China's Ministry of Water Resources (MWR). This year's investment is more focused than previously on rural areas and projects related to people's livelihoods. The top three types of projects where investment is growing are rural water supply projects, major water conservancy projects, and comprehensive river management and ecological restoration projects.

The 575,000-square-meter factory, located in North China's Tianjin Municipality, will increase production efficiency by more than 20 percent through over 400 sets of intelligent machines that can cover all phases of production. Core facilities include three intelligent production centers, seven auxiliary workshops and eight final assembly stations, with a designed annual capacity of 84,000 tons of structural steel. The factory also has a dock of 1,631 meters long that can handle ships including large offshore engineering ships, floating production storage and offloading platforms, and liquefied natural gas carriers. Intelligent machines decrease the use of labor and avoid risks during the processing of metal parts, as the factory realizes 90 percent automatic steel cutting and 70 percent automatic welding.

The arrangement aims to provide liquidity support for participating central banks during future periods of market volatility by creating a reserve pool, according to the People's Bank of China (PBOC). The establishment of the arrangement is conducive to meeting the reasonable international demand for the renminbi, and will make positive contributions to the enhancement of the regional financial safety net. The arrangement initially includes central banks in Asia and the Pacific, including Bank Indonesia, the Central Bank of Malaysia, the Hong Kong Monetary Authority, the Monetary Authority of Singapore and the Central Bank of Chile.

According to the State Administration of Foreign Exchange, the country's external financial liabilities reached 7.2943 trillion dollars, and net external assets totaled 1.944 trillion dollars. Within the external financial assets, direct investment assets amounted to 2.578 trillion dollars, portfolio investment assets stood at 967.3 billion dollars, financial derivative assets were 20.3 billion dollars, other investment assets totaled 2.2994 trillion dollars, and reserve assets stood at 3.3732 trillion dollars. As for the external liabilities, direct investment liabilities totaled 3.7205 trillion dollars, portfolio investment liabilities stood at 2.0198 trillion dollars, financial derivative liabilities were 16.8 billion dollars and other investment liabilities were 1.5372 trillion dollars.

President Xi Jinping stressed that this is an age rife with challenges, but it is also an age full of hope. We must get a good grasp of the overarching development trend in the world, firm up confidence, and act in unison and with great motivation to promote global development and foster a development paradigm featuring benefits for all, balance, coordination, inclusiveness, win-win cooperation and common prosperity. China will take pragmatic steps to give continued support to the 2030 Agenda for Sustainable Development.

China's top epidemic control authority on Friday reiterated its adamant stance on prohibiting excessive virus containment measures and abuse of related tools. The State Council's Joint Prevention and Control Mechanism stressed that local authorities should not impose excessive travel restrictions on people traveling from low-risk regions, using digital health codes for non-epidemic purposes or rigidly turning away logistics workers. Five local officials were punished for abuse of power following an investigation.

Beijing's education commission announced that students of primary and high schools can go back to campus on 27 June, as the city's COVID-19 epidemic situation has improved in recent days. According to the announcement, students of all grades of primary schools, students at grade one and grade two of middle and high schools can resume classroom education. Earlier, senior year students at middle and high schools resumed on-campus study and graduation examinations. Children in kindergartens can go back to school on July 4. Students in controlled residential communities should continue to study online at home.

The revised law will come into force on August 1, 2022, according to the country's top legislature. It improved its safe-harbor rule to further prevent monopolistic acts and protect fair competition. The country aims to establish the fair competition review system, formulate competition rules that are compatible with the socialist market economy, and build a unified, open, competitive and orderly market.

Wang Yonghong, a former director from the technology department at the People's Bank of China was dismissed from public office and expelled from the CPC for seriously violating regulations linked to accepting bribes. He Lin, former deputy Party secretary and general manager of the China Banknote Printing and Minting Corporation, one of the world's largest money printers, was expelled from the CPC for severe disciplinary and law violations, under the suspicion of accepting bribes and forging identity documents. Lin Yongfeng, a former monitoring director of the Shanghai Stock Exchange, was dismissed from his position and expelled from the CPC for repeatedly accepting banquets from regulatory targets, seeking improper benefits for others, and receiving properties during the process for issuance and listing review of enterprises.

The Beijing Stock Exchange (BSE) is welcoming the 100th listed firm seven month after opening, marking another milestone in China's efforts to build a multi-layer capital market that has enriched fundraising channels for small- and medium-sized enterprises (SMEs) and further released the country's innovation vigor. Since the bourse was launched in November last year with the debut of the first batch of 81 firms, 19 more companies have joined the BSE so far this year. And 76 percent of the 100 listed firms are SMEs, while 80 percent of them are in strategically emerging industries and advanced manufacturing sectors, including industrial material, information technology, medicine and healthcare, carbon reduction and consumption. Last year, those companies achieved an overall revenue of 70.47 billion yuan, up 31 percent year-on-year.

Qilin battery will power, among others, the pure electric model of Li Auto. CATL clinched a deal with Li Auto for the use of Qilin batteries beginning next year. The battery model will be mass-produced from 2023. Sized similar to other battery models in its class, such as US electric vehicle giant Tesla's 4680-format cells, Qilin batteries, however, deliver 13% more power, CATL claimed. With a record-breaking volume utilization efficiency of 72%, the latest battery is able to deliver a driving range of over 1,000 kilometers.

China has detailed measures to enhance the building of a digital government in tandem with the country's efforts to promote digital transformation. By 2025, the country will strive to improve the top-level design and coordination mechanism of a digital government that matches the modernization of the national governance system, according to a guideline released by the State Council, China's cabinet. Key advancements would emerge in making scientific government policies, carrying out targeted measures in social governance, and providing efficient public services.

According to the notice, China will select about 20 cities and regions nationwide to build them into IPR protection highlands by 2025. The construction of the demonstration zones will focus on targets, including strengthening the overall deployment of IPR protection, improving the legislation around IPR protection, and strengthening the whole chain protection of IPR. It will also deepen the reform of the system and mechanism of IPR protection, promote international cooperation and IPR exchanges in the region, and safeguard national security in IPR.

Chinese President Xi Jinping hosted the 14th BRICS Summit via video link, calling on BRICS countries to safeguard world peace and tranquility, boost development, and unleash the potential and vitality of cooperation. Noting that the combination of the COVID-19 pandemic and the Ukraine crisis has resulted in disruptions to global industrial and supply chains, sustained hikes of commodity prices, and weaker international monetary and financial systems, Xi said BRICS countries need to uphold cooperation to boost development and jointly tackle risks and challenges. BRICS countries gather not in a closed club or an exclusive circle, but a big family of mutual support and a partnership for win-win cooperation, Xi said BRICS countries need to uphold openness and inclusiveness and pool collective wisdom and strength.

More than 20 Chinese cities have explored the potential of the "housing coupon" policy to spur property sales and accelerate the recovery of the important sector, in addition to reducing down payments and removing home purchase restrictions. The "housing coupon" is a supplement to monetary compensation for existing residential housing subject to demolition or resettlement. That is to say, the coupon is not a direct rehousing payment, but a voucher to offset the payment for buying a home. The innovation of the housing coupon policy is still being explored in different cities, but it is undeniable that the it will contribute to revitalizing the housing market, particularly in tier-2 and tier-3 Chinese cities.

President Xi Jinping called on countries to strengthen macroeconomic policy coordination to prevent the slowdown and even halt of the global recovery, stay committed to openness and inclusiveness, eliminate all barriers to the development of productivity, and steer globalization in the right direction. At present, some important industrial and supply chains are suffering from deliberate disruptions, commodity prices remain high and are fluctuating, global inflation keeps rising, the international financial market is in turmoil, and global economic recovery is losing steam. "We should uphold the WTO-centered multilateral trading system, remove barriers to trade, investment and technology, and keep the global economy open." the Chinese president said.

China's National Radio and Television Administration and the Ministry of Tourism and Culture have jointly issued a set of regulatory protocols for webcast anchors. The protocols apply to performers who provide webcast, video, and audio services via the internet and also serve as references for virtual anchors powered by AI technology. Webcast anchors should maintain the right tone in political orientation, public communication, and values and actively embody core socialist values. Content creators in fields with relatively high thresholds -- such as health, finance, law, and education -- should obtain professional qualifications before their online performance, said the protocols.

Five people, including four officials, in Henan province have been punished after they were found to have abused their power to turn people's health codes red for non-epidemic reasons. The discipline inspection and supervision authorities in Zhengzhou, capital of Henan province, announced the beginning of an investigation, after several bank customers complained online or to the media that when they recently arrived in the province and tried to withdraw their savings from some local rural banks they found their health codes had turned red, even though they said they had followed local epidemic control measures.

Small and micro companies and self-employed businesses in the services sector that are tenants of state-owned houses in county-level administrative areas classified as medium and high-risk for COVID-19 will enjoy a six-month rent exemption this year, while those in other areas will be exempted from paying rent for three months, according to a circular jointly released by the Ministry of Housing and Urban-Rural Development and seven other government organs. For lessors who offer rent relief, local taxation departments will cut or exempt their property tax and urban land use tax in accordance with relevant regulations, and state-owned banks are encouraged to extend pledge loans at concessional rates to such lessors.

The bond quota of pandemic-battered Shanghai expected to surge by nearly 50 percent this year. The local government bond quota for Shanghai stood at 179.3 billion yuan ($26.75 billion) for 2022, among which 76.8 billion yuan ($11.4 billion) were new local government bonds, while the rest were local government refinancing bonds, said Shanghai's local finance bureau. This would mean a 46.5 percent increase in the city's local government bonds quota. Last year, Shanghai's bond quota stood at 122.4 billion yuan ($18.2 billion). The quota will be used for projects including environmental protection, rural revitalization, wastewater treatment and transportation construction, among others.

The Hong Kong Special Administrative Region (HKSAR) government is stepping up purchases of its local dollar to defend the city's currency peg as it faces potential capital outflows due to a widening interest-rate gap with the US. The Hong Kong Monetary Authority (HKMA) bought HK$11.2 billion ($1.43 billion) on 22 June. This marked the 13th intervention by the HKMA to buy Hong Kong dollars since May 13, pushing the total amount to HK$95.7 billion. The move comes as aggressive US rate hikes have caused a widening interest-rate gap between the US dollar and the local currency, causing downward pressure on the Hong Kong dollar. HKMA would closely monitor market conditions and strive to maintain the monetary and financial stability of Hong Kong.

A new study from the not-for-profit research institute RAND Europe involving more than 80 UK-based academics from a range of disciplines and institutions finds a resounding appetite for continued collaboration with Chinese colleagues, despite acknowledged tension over security concerns. Most UK academics consulted in the study were positive about their engagement with Chinese partners. They stressed the benefits of working with leading researchers, emphasising the potential for delivering high-quality research outputs, and praising the quality and rigour of the Chinese partners they worked with. The research was commissioned by the British Embassy Beijing on behalf of the Foreign, Commonwealth and Development Office (FCDO).

Premier Li Keqiang made the remarks during an inspection tour in north China's Hebei Province. He stressed efforts to ensure that grains are harvested in time and stored in good conditions. The sufficient supply of grains serves as an anchor for price stability. He also pledged resolute efforts to stamp out power rationing and called for moves to facilitate the clean and efficient production of coal power and expedite the building of pumped-storage hydroelectric plants.

The State-owned Assets Supervision and Administration Commission, at a recent meeting on graduate employment, urged all centrally-administered SOEs and local departments to expand their current recruitment and talent pool to create more job opportunities. While strengthening online and offline recruitment, these SOEs should launch their summer recruitment drives as soon as possible. China is expected to see a record 10.76 million new graduates from the country's universities and colleges in 2022, marking a year-on-year increase of 1.67 million.

A research team from Xidian University has wrapped up the world's first full-chain, system-wide ground verification for space solar power station this month, displaying multiple key know-hows for the futuristic project known as Zhuri or chasing the sun. The Space Solar Power Station (SSPS), a hotspot technology, is a space-based power generation system used to collect solar energy before converting it to electricity and then to microwaves. The sunlight is brighter outside the atmosphere and shines almost all day. Next, the energy in microwaves is to be transmitted to and harvested by the receiving antenna either in space or on the Earth's surface, which converts microwaves back to electricity.

The document states TV channels in standard definition will be gradually closed down starting from 2023 and will be completed by 2025. From July 2022, all TV broadcasters should broadcast using HD and UHD signals. TV in transmitting information and government policies to remote outlying areas remains one of major media for dispersing information in China, especially in rural areas. TV boxes are usually connected to a broadband network, which can realize multiple functions in households, in addition to receiving TV signals. Stock prices of multiple enterprises in the industry such as Skyworth Digital Co, Unionman Technology Co and Jiangsu Yinhe Electronics Co saw rises when trade opened on 22 June.

The theme park will open on 25 June, capping passenger flow while the park's two theme hotels are set to reopen on June 24 and July 1 respectively.The theme park will open on Saturday, capping passenger flow while the park's two theme hotels are set to reopen on June 24 and July 1 respectively. The phased reopening of the Universal Beijing Resort comes as major Chinese scenic spots announced exempting admission fees to boost tourism during the summer vacation, which experts said will greatly boost consumption and tourism during peak travel season.

The third Qingdao Multinationals Summit sees MNCs backing China's efforts to boost supply chains. Global companies from 16 countries and regions, including Japan's Mitsui & Co Ltd and Germany's ZF Friedrichshafen AG, are among the big-name signatories. Government officials and corporate executives said these deals signify that China will continue to play a key role in supporting the stable operation of global supply chains, and facilitate multinationals to achieve better growth in its lucrative market. The big-ticket projects are mainly in the fields of high-end equipment and chemicals, new energy, new materials, information technology, finance, ocean development, agriculture and services.

The city will continue to attract many multinationals to set up their regional headquarters there. But in order to keep ahead of the game amid an uncertain world economy, Shanghai must not rest on its laurels even after it achieves these goals and should continue to improve on them. Shanghai Mayor Gong Zheng presented certificates to 30 new regional headquarters and 10 new R&D centers of multinational companies at a ceremony on June 15. It is the 35th batch of such awards and proof that the latest wave of Covid-19 did not dent foreign enterprises' confidence in the city. Shanghai was home to 848 multinational regional headquarters and 512 R&D centers as of the end of May.

In a recent circular, the People's Bank of China improved policies for cross-border renminbi business in e-commerce and other new models of foreign trade. The business scope of payment institutions will be expanded from goods and services trade to current accounts, and risk prevention and control will be strengthened with clear requirements for authenticity verification and anti-money laundering work, among other issues. Effective July 21, the new policies will provide better financial services for trade companies, guide the healthy development of new trade models, and help stabilize the economy.

Many cities and regions have adjusted their policies related to COVID-19 including shortening the quarantine period for inbound travelers and reducing the frequency of mass nucleic acid testing to better serve the current situation of fewer recent infections. Cities such as Beijing, Wuhan in Hubei province and Nanjing in Jiangsu province now require seven days of centralized quarantine in hotels, compared with 14 days previously, and seven more days at home. The rule also applies to travelers entering the country through cities such as Wuxi and Changzhou in Jiangsu province.

Rather than abandoning the Chinese market, investors are choosing to supplement Chinese operations with low-cost inputs sourced from production facilities in markets, such as Vietnam and Mexico. Research from Management Consulting Firm Kearney shows that the trend of reshoring from 14 "typically low cost" Asian countries to the US actually slowed in 2020 and 2021. Some companies may view Mexico as a lower-risk option for operations. Mexico enjoys certain advantages over China as a destination for foreign manufacturers, a viable option for US companies focused on the North and South American markets. It is cheaper and faster to ship goods from Mexico than China, as the impact of the pandemic is still felt in the form of sky-high shipping costs.