Economy/Society

Chinas Central Bank Issues Financial Technology Development Plan

China has recently released a plan for the development of financial technology from 2022 to 2025 in an effort to spur the digital economy with an improved modern financial system. Its objective is to contribute financial strength to the construction of a new development pattern and the realization of common prosperity， according to the countrys central bank.

The plan outlined major tasks in eight areas， including strengthening financial technology governance， boosting data capacity， building green data centers with high availability， deepening the application of digital technology in the financial sector， building a safer and more efficient fin-tech innovation system， deepening the smart reconstruction of financial services， accelerating the all-round application of regulatory technologies， and improving talent training.

According to the plan， China will work to bring about a great leap forward in the overall level and core competence of its financial technology by 2025.

97.6 percent

In 2021， 97.6 percent of agricultural products passed routine risk monitoring， which is the seventh consecutive year that this rate has remained above 97 percent.

Promote the Steady Development of Small and MediumSized Enterprises

Nineteen departments including the Ministry of Industry and Information Technology（MIIT） jointly released a plan to promote the development of small and medium-sized enterprises. According to the plan， by the end of 2025， apart from being significantly more innovative and professional， those enterprises will see a per capita revenue increase by over 18 percent. Besides， the R&D spending of small industrial enterprises above the designated size will grow at an average annual rate of 10 percent.

rmB 60 billion

The total sales of off-shore dutyfree shops with a business area of 220，000 square meters on Hainan Island exceeded RMB 60 billion in 2021.

Modern Animal Husbandary Industry Plan Issued

The Ministry of Agriculture and Rural Affairs recently issued a plan for the development of animal husbandry and veterinary industries during Chinas 14th Five-Year Plan period （2021-2025）. According to the plan， a modern animal husbandry industry will come into being by 2025， and the production volume of the pig and poultry industries are expected to reach RMB 1 trillion.

By 2025， the self-sufficiency rate of pork will have reached around 95 percent， while that of beef and mutton will have reached around 85 percent， that of milk will be over 70 percent， and supply of poultry and eggs will be basically self-sufficient， according to the plan. Meanwhile， the comprehensive capacity of animal diseases prevention and control will be greatly improved， and the comprehensive utilization rate of livestock and poultry excrements will reach over 80 percent， forming a new green circular development mode.

Chinese Students Get More Sleep

Almost 80 percent of primary and secondary school students got more nightly sleep during the fall semester of 2021， the Ministry of Education said recently.

According to Lü Yugang， director of the ministrys department of basic education， a survey of 77.14 million parents showed that 76.2 percent of respondents said their children were getting the recommended 10 hours of sleep every night for primary school students and nine hours for those in secondary school. A survey of 2020 found only about 40 percent of students were getting enough sleep.

Missions of Robotics Industry Unveiled

The Ministry of Industry and Information Technology （MIIT） and 14 other central agencies recently unveiled a five-year plan for the robotics industry， outlining five missions for the sector –reinforcing development foundation， increasing the supply of high-end products， expanding the depth and breadth of relevant technological application， and improving industrial structure.

China has been the worlds largest consumer of industrial robots for eight consecutive years. In 2020， its density of manufacturing robots reached 246 per 10，000 people， double the global average， and revenues of the industry for the first time topped RMB 100 billion. Industrial robots now “staff” 52 sectors of the economy， and are used in large numbers in such areas as storage， education， security control， and health care.

Report Affirms Chinas Youth Development

The International Youth Sustainable Development Index Report 2021 shows that China ranks 23rd among 85 countries in the development of young people. This ranking is higher than the countrys position on both the per capita GDP and UNDPs Human Development Index.

The report was conducted by China Youth and Children Research Center， China International Youth Exchange Center， the Center for Youth Moral Education at Tsinghua University， and the Research Center for Contemporary China at Peking University. It is based on 17 indicators in five domains： health and well-being， education， employment and opportunity， family and society， and civic participation.

The top 10 countries include four Asian countries （Singapore， Israel， Bahrain， and Kuwait）， five European countries （Norway， Belgium， Denmark， Iceland， and Austria）， and one country from Oceania（Australia）. In terms of development level， the top 10 countries include eight developed countries and two developing countries.

Seven provincial-level regions in China have been granted approval for establishing national demonstration zones for the comprehensive reform of traditional Chinese medicine （TCM）. Shanghai， Zhejiang， Jiangxi， Shandong， Hunan， Guangdong， and Sichuan are among the first in the country to receive such approval， according to the National Administration of TCM.