China-Economic Performance/Market Entities

Shotlist

Jiangxi Province, east China – Recent (CCTV – No access Chinese mainland)
1. Aerial shots of farmland
2. SOUNDBITE (Chinese) Yao Chunhai, farmer (ending with shot 3):
“Our main concern now is the increase in overall costs, such as fertilizers and pesticides. But we have become more confident as our country has continued to strengthen support for agriculture. I have increased the planting area of early rice this year compared with last year.”
3. Various of farmers driving machinery
4. Grain

Jiangsu Province, east China – Recent (CCTV – No access Chinese mainland)
5. Various of facilities, workers
6. SOUNDBITE (Chinese) Wang Mingzhe, manager, local electronic enterprise (ending with shot 7):
“The government has supported us in many aspects such as taxes, jobs and finances, which boosts our confidence.”
7. Various of facilities, workers

Beijing, China – July 12, 2022 (CCTV – No access Chinese mainland)
8. SOUNDBITE (Chinese) Dong Yu, executive vice president, China Development Planning Institute, Tsinghua University:
“Where dose the confidence come from? Confidence in China’s macroeconomic governance is crucial. Every time market entities face various difficulties and challenges, especially some unexpected ones, China’s policy makers have demonstrated strong leadership and strategic calm, serving as an impetus for the targeted strategic measures to play their roles in the broader economy.”

FILE: Shanghai, China – Date Unknown (CCTV – No access Chinese mainland)
9. Aerial shots of city view, skyscrapers

FILE: Beijing, China – Date Unknown (Sansha Satellite TV – No access Chinese mainland)
10. Aerial shot of cityscape

FILE: Guangzhou City, Guangdong Province, south China – Date Unknown (CCTV – No access Chinese mainland)
11. Aerial shot of cityscape

Storyline

China’s stable economic performance in the first half of this year has boosted confidence of market entities.

The hike in prices of fertilizer and other agricultural materials increased farmers’ costs during spring farming.

A farmer in east China’s Jiangxi Province said he had increased planting areas thanks to the support from agriculture departments at all levels.

“Our main concern now is the increase in overall costs, such as fertilizers and pesticides. But we have become more confident as our country has continued to strengthen support for agriculture. I have increased the planting area of early rice this year compared with last year,” said Yao Chunhai, a farmer.

An electronic enterprise in east China’s Jiangsu Province, which reeled from COVID-19 restrictions and disrupted supply chain, has seen its output gradually recovering.

“The government has supported us in many aspects such as taxes, jobs and finances, which boosts our confidence,” said Wang Mingzhe, manager of the electronic enterprise.

In the first five months of this year, 5.547 million new tax-paying market entities were registered nationwide, up 6.2 percent year on year, of which 99 percent are micro, small and medium-sized enterprises.

The purchasing managers’ index (PMI) for China’s manufacturing sector came in at 50.2 in June, up from 49.6 in May, returning to expansion in June after contracting for three consecutive months.

Profitability of Chinese enterprises improved in the second quarter of the year, with the profitability index standing at 51.2 percent, up 2 percentage points from the previous quarter, according to the People’s Bank of China.

China’s economic performance in the first half of this year has also enhanced the confidence of many global investors and international organizations in the Chinese economy.

Agustin Carstens, general manager of the Bank for International Settlements (BIS), recently said China’s resilient economy continues to be an engine of global growth.

As one of the world’s innovation centers, China has more room for development in the future and has the potential to become a hot spot for research and development activities, according to a report released by the European Union Chamber of Commerce in China.

“Where dose the confidence come from? Confidence in China’s macroeconomic governance is crucial. Every time market entities face various difficulties and challenges, especially some unexpected ones, China’s policy makers have demonstrated strong leadership and strategic calm, serving as an impetus for the targeted strategic measures to play their roles in the broader economy,” said Dong Yu, executive vice president of China Development Planning Institute of Tsinghua University.