Andrew
Manyika Kangai
Xi Jinping Inspects China’s Army
Chinese President Xi Jinping inspected the Joint Operations Command Centre of the Central Military Commission (CMC), demonstrating the stance of the new CMC on implementing the guiding principles of the 20th National Congress of the Communist Party of China (CPC) and enhancing troop training and combat preparedness. Xi, also general secretary of the CPC Central Committee, chair of the CMC, and commander-in-chief of the CMC Joint Operations Command Centre, said the entire military should devote all its energy to carry out all its work for combat readiness, enhance its capability to fight and win, and effectively fulfil its missions and tasks in the new era. Xi also stressed that China’s national security is facing increased instability and uncertainty, and its military tasks remain arduous. He demanded that the entire armed forces implement the party’s thinking on strengthening the military for the new era, follow the military strategy for the new era and adhere to combat effectiveness as the sole criterion.
China’s Latest CPI and PPI
China’s Consumer Price Index (CPI), a main gauge of inflation, rose 2,1 percent year-on-year in October, according to data from the National Bureau of Statistics (NBS) released on Wednesday. On a monthly basis, October’s CPI generally remained stable, contracting 0,2 percentage points from the previous month to inch up 0,1 percent. Breakdown data showed that food prices went up 0,1 percent month-on-month, moderating 1.8 percentage points from September. Non-food prices rose 1,1 percent from a year earlier, compared to the 1,5-percent rise in September, lifting consumer inflation by about 0,88 percentage points. China’s Producer Price Index (PPI), which measures cost of goods at the factory gate, went down 1,3 percent year-on-year in October. The figure eased from the 0,9-percent year-on-year increase registered in September.
China’s Forex Reserves Rise
China’s foreign exchange reserves rose to US$3,05 trillion at the end of October, up US$23,5 billion from a month earlier, according to official data from the State Administration of Foreign Exchange released on Monday. The volume went up 0,77 percent from the end of September. The foreign exchange regulator attributed the increase in foreign exchange reserves in October to the combined impact of currency translation and changes in asset prices.
China’s NEV Sales Soar
China’s retail sales of New Energy Vehicles (NEVs) surged in October as improved supply and concerns of higher oil prices among car buyers jointly propelled the NEV market, according to the China Passenger Car Association. Last month, retail sales of China’s new energy passenger cars came in at 556 000 units, up 75, 2 percent year-on-year. In the first 10 months, over 4,43 million units of new energy passenger vehicles were sold via retail channels in the country, skyrocketing 107,5 percent from a year ago. Overall, China’s passenger car market posted stable growth in October, with 1,84 million passenger vehicles sold via retail channels last month, up 7,3 percent year-on-year.
Shanghai Opens First Self-Driving Expressways
Shanghai officially opened the first batch of expressways for autonomous driving, according to the Shanghai Municipal Transportation Commission. A 21,5 km road section on the G1503 ring expressway and a 19,5 km section on the G2 Beijing-Shanghai expressway have been designated for self-driving vehicles. Shanghai has so far opened 926 autonomous driving test roads offering 15 000 test scenarios, ranking among the top in the country. The city is prepared for intelligent connected vehicle tests and applications to effectively support self-driving demonstration operations and commercial launches.
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