General Secretary Xi Jinping emphasized the need to implement more proactive macro policies and focus on high-quality development. Currently, a series of more proactive fiscal and monetary policy "combination punches" are being rapidly implemented, linking existing policies and better leveraging counter-cyclical adjustments to vigorously promote economic improvement and optimization. Immediately after the Spring Festival, in Fujian, the ecological barrier remediation and restoration of the Luoyang River basin are underway, with over 58 million yuan in newly allocated fiscal funds helping to make the mountains greener and the waters clearer along the river. In Xinjiang, the sixth phase of the "Three North" Shelterbelt Program is accelerating. In Sichuan, the construction of the Chengdu-Chongqing Middle Line High-Speed Railway is in full swing, and ultra-long-term special government bonds have pressed the fast-forward button for a large number of major projects ("liang zhong" projects, referring to major national strategies and major public welfare undertakings). More proactive macro policies are accelerating their implementation, along with existing policies, providing strong support for the sustained recovery and improvement of the economy. General Secretary Xi Jinping attaches great importance to the targeting and timeliness of macro policies. When studying the economic situation and work, he has repeatedly emphasized the need to increase counter-cyclical adjustments in fiscal and monetary policies, especially in response to new situations and problems arising in economic operations, decisively deploying a package of incremental policies to effectively boost social confidence and significantly revive the economy. The Central Economic Work Conference held at the end of 2024 proposed implementing a more proactive fiscal policy and a moderately loose monetary policy, delivering a "combination punch" of policies. A package of incremental policies was promptly introduced, benefiting the present and the long term. Ultra-long-term special government bonds are providing increased support for "liang zhong" (major national strategies and major public welfare undertakings) and "liang xin" (new infrastructure and new urbanization) work. Active efforts to resolve local hidden debt stock have directly increased local debt resolution resources by 10 trillion yuan. The reserve requirement ratio was lowered by 0.5 percentage points, releasing approximately 1 trillion yuan in long-term liquidity. A series of precise and effective measures have vigorously promoted economic recovery and improvement. Currently, more proactive macro policies are continuing to exert their efforts, expanding domestic demand and strengthening momentum. Proactive deployment is supporting stable economic growth. The scope of special local government bonds used as project capital has been expanded from the original 17 industries to 22, with the addition of 5 new industries, including new emerging industry infrastructure and urban renewal. At the same time, the issuance of 2 trillion yuan in replacement bonds for 2025, aimed at resolving local government hidden debt risks, has been initiated, further easing the debt repayment pressure on local governments. Driven by policies, local bond issuance has significantly accelerated. In January of this year, 14 provinces and municipalities, including Hubei and Hainan, successively launched their 2025 local bond issuance work, with the issuance scale increasing by approximately 45% year-on-year. In Hubei, special local government bond funds issued in mid-January have already been allocated to cities and counties. These days, in Yichang's Dianjun Beidou Industrial Park in Hubei, which just received funding, the main construction of the last building under construction is in full swing, more than two months ahead of schedule. Precise and powerful policies are driving the economy towards "new" development. The "Implementation Opinions on Capital Market's Good Performance of the Five Major Financial Articles" was released, further strengthening financial services for technology-based enterprises throughout their entire chain and life cycle. For the first time, the "Guiding Opinions on Promoting the High-Quality Development of Government Investment Funds" was issued at the national level, introducing 25 measures from seven major aspects to develop long-term capital and strengthen patient capital. In Yunnan, the implementation plan for government investment funds to support high-quality industrial development was recently issued, with the goal of driving social capital investment of no less than 100 billion yuan within five years. In Jiangsu, the second batch of special funds, funded by the strategic emerging industry parent fund, was launched, with a total scale of 40.8 billion yuan. In a tech-innovation enterprise in Nanjing, immediately after the Spring Festival holiday, a batch of industrial robots rolled off the production line. Although these products have not yet generated profits, research on algorithm models for new-generation humanoid robots has already begun in the laboratory, which is inseparable from the recently arrived 130 million yuan in strategic funds. This year, more proactive macro policies will continue to exert their efforts. The scale of fiscal expenditure will be expanded, and China will increase the issuance of ultra-long-term special government bonds to continue supporting the implementation of "liang zhong" projects and "liang xin" policies; the dual functions of monetary policy tools, both in terms of aggregate and structure, will be further leveraged, and reserve requirement ratios and interest rates will be lowered when appropriate to reduce overall social financing costs and support key areas and weak links in the national economy. With proactive and precise efforts, the macro policy "combination punch" is unleashing greater vitality, injecting lasting impetus into China's sustained economic recovery and improvement.
Currently, the pace of work resumption across the country is accelerating, and labor demand is increasingly robust. Many regions have dispatched inter-provincial recruitment teams, providing point-to-point services to help migrant workers return to their posts as soon as possible. Various forms of job fairs and skill training are making the post-holiday job market vibrant. Immediately after the Spring Festival holiday, 25 enterprises from Jinhua, Zhejiang, brought over 10,000 job vacancies to Bazhong, Sichuan. Some enterprises told reporters that they had received many orders during the holiday and are now waiting for workers to return to their posts. Reporters on site found that enterprises in electronics, agricultural machinery, and new energy vehicles have a large demand for labor. With spring plowing and sowing just around the corner, an enterprise producing high-speed rice transplanters and tractors for mountainous and hilly areas has already scheduled production until June. The enterprise has built a new production base and urgently needs to recruit workers for production. Seizing the golden period of post-holiday production, the 2025 "Spring Breeze Action" is being carried out nationwide. As of February 11, a total of 15,000 special vehicles, trains, and chartered flights for migrant workers have been dispatched nationwide. Data analysis by China Unicom Smart Footprint Big Data found that after the Spring Festival holiday, the speed of migrant workers returning to their posts significantly accelerated. Especially during the five days from the eighth to the twelfth day of the first lunar month, the rural labor force in Guangdong and Zhejiang both increased by 40%. These buses departing from Danfeng County, Shangluo City, Shaanxi, carried 657 migrant workers to the Yangtze River Delta region. For returning groups who wish to work near their homes, skill training in various regions has not stopped during this period. In Wenshan Prefecture, Yunnan, some villagers decided to stay in their hometowns for employment and entrepreneurship after receiving professional training in excavators, e-commerce operations, and plant protection drones. The 2025 "Spring Breeze Action" will continue until mid-March. Various regions will continue to carry out labor cooperation between eastern and western regions, organize various special recruitment fairs and vocational training, expand employment space, and help enterprises expand production.
Since the implementation of the "Two New" policies (new infrastructure and new urbanization) and their expansion in 2025, the trade-in of consumer goods has been actively carried out across various regions, effectively enhancing the vitality of the consumer market. This year, the nation has newly implemented subsidies for purchasing new digital products such as mobile phones, a highlight of the intensified and expanded "Two New" policies. In Hebei, the digital product sections in major shopping malls are bustling with customers. Baoding is carrying out a "Citywide Benefit Market" promotion, offering a "trade-in + discount + gift with purchase" package to stimulate consumer enthusiasm. In Taiyuan, Shanxi, sales of digital products such as mobile phones, tablets, and smartwatches are booming, with significant increases in store traffic and sales. Since the beginning of this year, Taiyuan has processed 144,500 subsidy applications for digital products like mobile phones. The intensified and expanded "Two New" policies continue to stimulate market vitality. Hubei has expanded the categories of kitchen and bathroom small appliances from 51 to 77 detailed categories. Through the superposition of old machine trade-in prices, government subsidies, and brand concessions, it is driving the home appliance market to transition from "basic demand popularization" to "quality upgrade." During the Spring Festival, Hubei's trade-in sales exceeded 1.5 billion yuan. Guangzhou, Guangdong, organized over 1,800 sales outlets to provide convenient and fast trade-in services for consumers. Since the beginning of this year, Guangzhou's trade-in initiatives have driven cumulative sales exceeding 910 million yuan and verified subsidy amounts exceeding 140 million yuan. This year, Xiamen, Fujian, has allocated special funds to subsidize individual consumers purchasing new cars in Xiamen. The new car purchase subsidy can also be used in conjunction with the trade-in subsidy policy. Jiangsu this year released 26 policies, including optimizing car replacement and upgrade subsidies, to further expand the scope and increase the intensity of subsidies. Since 2025, the total number of car trade-in applications submitted across Jiangsu province has exceeded 27,000.
Since the beginning of the year, construction on several key energy projects in China has accelerated, continuously solidifying the foundation of the country's energy security. At the Mengdigou Hydropower Station construction site in the Yalong River basin, over 50 large engineering vehicles are shuttling back and forth, and more than 4,500 builders are fully engaged in the construction of the diversion tunnel project, riverside roads, and other operations. Currently, 11 ongoing projects are vigorously advancing, and the nation's first integrated hydro-wind-solar demonstration base is beginning to take shape. Meanwhile, in regions like Xinjiang and Inner Mongolia, the construction of China's second and third batches of large-scale "deserts, Gobi, and barren lands" wind and solar power bases is also accelerating, promoting the continuous optimization of China's energy structure. For the entire year, newly installed wind and solar power capacity is expected to reach around 200 GW, with renewable energy consumption exceeding 1.1 billion tons of standard coal. At the same time, a number of major projects aimed at improving new energy utilization rates are also progressing simultaneously. At the construction site of the first variable-speed pumped-hydro energy storage project in the Guangdong-Hong Kong-Macao Greater Bay Area, over 10 construction tasks, including the upper and lower reservoirs, underground powerhouses, and water delivery systems, are advancing simultaneously. Currently, in the Guangdong-Hong Kong-Macao Greater Bay Area and the Beibu Gulf Economic Zone, the construction of nine pumped-hydro energy storage station clusters with a total investment of nearly 70 billion yuan and a total installed capacity of 10.8 GW is accelerating across the board, with phased operations beginning this year. Not only clean energy, but this year, a number of large, modern coal mines with high levels of intelligence and safety guarantees are also accelerating construction. At the same time, efforts are being made to achieve leapfrog development in deep-earth, deep-sea, and shale oil and gas. The annual coal output is expected to reach around 4.8 billion tons, and crude oil output will remain above 200 million tons. China's energy security foundation will be continuously strengthened.
Currently, spring field management and spring plowing production are successively underway. Various regions are seizing the agricultural season and taking targeted measures to intensify spring agricultural production. After the beginning of spring, over 8.1 million mu of winter wheat in Shanxi entered the critical period of spring irrigation and topdressing. Targeting the tillering and regreening of winter wheat, large Yellow River irrigation areas in Shanxi, such as Jiamakou, Dayudu, and Yumankou, have successively started pumping water to launch spring irrigation. In the southern Jin region, which accounts for 90% of Shanxi's wheat planting area, "regreening water" is irrigating millions of mu of winter wheat, laying a good foundation for a bumper summer grain harvest this year. Henan, a major wheat-producing province in China, is experiencing a peak demand for fertilizer and water in its farmland. In Huaxian County, agricultural technicians are guiding growers to make good use of methods such as flood irrigation, drip irrigation, and micro-sprinkling to further improve water and fertilizer utilization efficiency. This year, these water-saving irrigation technologies have been widely applied in local wheat fields, saving approximately 56 million cubic meters of water. In Sichuan, most wheat has entered the jointing stage. Facing potential pest and disease problems during wheat growth, agricultural departments have organized over 3,500 expert teams and 12,000 agricultural technicians to go to the frontline to provide precise guidance to farmers on field management. Rapeseed, potatoes, and other crops have also entered the critical stages of sowing and spring management. Hubei planted over 19 million mu of rapeseed this year. To reduce the risk of rapeseed frost damage, the local government promptly issued winter and spring field management notices and dispatched multiple expert groups to go deep into the fields to guide various localities to take targeted measures to resist cold and prevent frost. In Gansu, potato spring sowing has begun. Reporters on site saw farmers busy planting seeds and fertilizing, turning over soil, and covering with film.
According to customs statistics, in 2024, China's imports and exports to Africa reached 2.1 trillion yuan, a year-on-year increase of 6.1%. Trade volume between China and nearly half of African countries saw a year-on-year increase of over two digits. In 2024, China's exports to Africa reached 1.27 trillion yuan. Among them, exports of electric vehicles, textile raw materials, and ships all showed rapid growth, increasing by 104.8%, 83.7%, and 64.4% respectively. The scale of China-Africa trade grew from 87.38 billion yuan in 2000 to 2.1 trillion yuan in 2024, with an average annual growth rate of 14.2%, 3.6 percentage points higher than the average annual growth rate of China's total goods trade during the same period.
Beijing continues to organize high-quality medical and health resources for in-depth cooperation with the Beijing-Tianjin-Hebei region, and the coordinated development of healthcare in Beijing-Tianjin-Hebei is deepening. Currently, the Peking University People's Hospital Xiong'an Campus has begun construction, the Langfang Campus of the Chinese Academy of Medical Sciences Cancer Hospital has officially opened, and Xiong'an Xuanwu Hospital has accumulated over 200,000 outpatient visits. In addition, Beijing has supported Hebei in building seven national regional medical centers. The three regions of Beijing, Tianjin, and Hebei have jointly established 115 medical alliances and launched 49 Beijing-Tianjin-Hebei mutually recognized continuing medical education programs. The number of medical institutions with mutually recognized clinical examination and test results in the three regions has reached 914. The Beijing-Tianjin-Hebei Medical-Elderly Care Integration Alliance has been established, covering 542 units.
The Lantern Festival, the fifteenth day of the first lunar month, was celebrated with dazzling lights and family reunions. Various regions across China held colorful events to celebrate the festive occasion. Last night (February 12), the Lantern Festival firework display was held in Haikou, Hainan, with 3,000 drones taking to the sky, constantly changing formations, and beautiful fireworks blooming in the night sky. Citizens and tourists cheered, filling the air with festive atmosphere. In Lingshui, as night fell, the highly anticipated intangible cultural heritage performance of "Dajiehua" (striking iron to create sparks) began, with molten iron hitting the sky, instantly bursting into thousands of golden flowers, dazzling and brilliant. Over Taihu Lake in Suzhou, thousands of drones formed moving pictures in the night sky, and more than 10 groups of different shaped patterns complemented the musical fountain, allowing citizens and tourists to enjoy a feast of light and shadow and celebrate the reunion festival. In Dunhua, Jilin, in addition to a large-scale musical firework show, there were also local folk performances such as Yangge and special delicacies, attracting many citizens and tourists. At the Lantern Festival Lantern Fair in Shenyang Imperial Palace, traditional lighting was enhanced with spotlights and changing light effects, centering on the theme of "blessing" and using traditional intangible cultural heritage lantern-making techniques to tell the story of continuous Chinese civilization through flickering light and shadow. The 30-meter-long "Auspicious Purple Air from the East" lantern group symbolized the soaring momentum of 2025. In Huaihua, Hunan, dragon and lion dance teams paraded through the streets to celebrate the Lantern Festival. Dozens of long dragons soared and rolled, and the majestic and spirited awakened lions sent strong festive blessings to people. In Manas, Xinjiang, fireworks ascended into the sky, blooming in competition, sparkling like stars and incredibly beautiful. People watched fireworks, admired lanterns, and guessed lantern riddles, spending an unforgettable Lantern Festival.
The Lantern Festival coincided with the Asian Winter Games, and a series of exciting and rich cultural experience activities inside and outside the venues allowed athletes and officials from various countries to experience the charm of traditional Chinese culture up close. In the Harbin Athletes' Village, traditional cultural displays unique to Heilongjiang, such as Fangzheng paper-cutting and Longjiang shadow puppetry, attracted athletes from various countries to watch, and the red lanterns presented by the staff made everyone feel the strong festive atmosphere of traditional Chinese festivals. In the Yabuli Ski Resort Athletes' Village, athletes made rubbings of ice and snow paintings and molded dough figurines, experiencing the unique charm of traditional Chinese culture. In the lantern riddles session, staff set different riddles in multiple languages, which were very popular. Sri Lankan athlete Murugara enjoyed the Northeast handkerchief spinning the most, and he received cheers from the audience when he successfully spun it. As night fell, at the main media center of the Asian Winter Games and the Yabuli Mountain Media Center, the "Celebrating Lantern Festival at the Asian Winter Games" cultural exchange activities brought unique experiences. Everyone couldn't help but try their hand at making tangyuan (sweet glutinous rice balls), weaving Chinese knots, and cutting a "Fu" (blessing) character from fish skin.
The 9th Asian Winter Games in Harbin entered its sixth competition day since the opening. As of 6:00 PM today (February 13), the Chinese team secured another gold medal. In the women's 4x6 km biathlon relay, the Chinese team, consisting of Tang Jialin, Wen Ying, Chu Yuanmeng, and Meng Fanqi, won the gold medal. Due to strong winds, two finals in the snowboard halfpipe competition were canceled. Based on the preliminary results, Wu Shaotong won the bronze medal in the women's snowboard halfpipe. In the last round of the men's curling round-robin B group held last night, the Chinese team defeated Japan 8-5 to achieve five consecutive victories and advanced to the semifinals as the group leader. In the women's curling round-robin match held this morning, the Chinese team defeated Japan 6-2, also advancing to the semifinals.
China's Futures Market Turnover Increased by 11.01% Year-on-Year in January. The latest data from the China Futures Association shows that, calculated unilaterally, the national futures trading market's turnover in January reached 48.87 trillion yuan, a year-on-year increase of 11.01%. From a market perspective, the overall commodity market was strong in January, with palm oil and industrial silicon futures ranking among the top in turnover across various exchanges. The state has allocated a new batch of 5 billion yuan in central investment for "work-for-relief" projects. The reporter learned today (February 13) from the National Development and Reform Commission that the state has allocated a new batch of 5 billion yuan in central investment for "work-for-relief" projects for the year 2025, mainly targeting 832 poverty-stricken counties and other less developed areas. This investment will support the implementation of 1,008 small rural infrastructure projects with high labor demand. It is planned to absorb 123,000 low-income rural residents for employment, and more than 1.71 billion yuan in labor wages will be distributed. The National Healthcare Security Administration (NHSA) promotes targeted release of healthcare security data. The NHSA is promoting the targeted release of healthcare security data. Local healthcare security departments will monthly or quarterly release information on total budget, utilization of medical service resources, etc., to designated medical institutions within their jurisdiction, making the "financial bottom line" of the healthcare security fund clear. This aims to promote information interoperability in the medical, healthcare security, and pharmaceutical fields, improve the efficiency of healthcare security fund utilization, and safeguard fund security. China further improves the regulatory system for ecological protection and restoration. The Ministry of Ecology and Environment recently issued the "Guiding Opinions on Further Strengthening the Regulation of Ecological Protection and Restoration." It proposes that by 2027, China's ecological protection and restoration regulatory system will be further improved; the national ecological quality monitoring system will be initially formed; and major ecological damage issues in national parks and national nature reserves will achieve dynamic zeroing, solidifying the ecological foundation for building a beautiful China. The animated film "Ne Zha: I Am the One" breaks 10 billion yuan in global box office. As of now, the Chinese animated film "Ne Zha: I Am the One" (including pre-sales) has surpassed 10 billion yuan in global box office, becoming China's first film to exceed 10 billion yuan, with over 200 million moviegoers. Since its release on January 29, "Ne Zha 2" has continuously broken Chinese film history records for both box office and moviegoers. Eight Beijing Key Laboratories in the Aerospace Field Awarded. Yesterday (February 12), eight Beijing Key Laboratories in the aerospace field, including "Reusable Space-Air Vehicle System Design" and "Rotating Detonation Propulsion Technology and Application," were awarded. At the same time, 25 cutting-edge commercial aerospace projects, including direct mobile phone-to-satellite connection, settled in Beijing Economic-Technological Development Area. Beijing's commercial aerospace industry has entered a period of rapid development. National High-tech Zones have become the core carriers of advanced manufacturing clusters in China. The reporter learned from the Ministry of Industry and Information Technology that currently, China has 178 national high-tech zones. These high-tech zones gather about 70% of the national manufacturing innovation centers and nearly 80% of the national key laboratories. Enterprises in the zones account for about half of the country's R&D expenditure and patented inventions. Shenzhen Port's Foreign Trade Container Throughput Exceeded 2.85 Million TEUs in January. According to Shenzhen Customs statistics, in January this year, Shenzhen Port's foreign trade container throughput reached 2.853 million TEUs, a year-on-year increase of 15.5%, hitting a new high for the same period. Shenzhen Port has 275 international liner routes, and both its container throughput and number of routes rank first among ports in the Greater Bay Area.
The Russian Ministry of Defense announced on the 12th that the Russian military launched a concentrated strike on Ukrainian drone production workshops, and all designated targets were hit. The Russian army also struck Ukrainian military airport infrastructure, temporary locations of foreign mercenaries, and targets in 139 areas. The Ukrainian military stated that Kyiv and Kryvyi Rih were attacked by Russian "Iskander" missiles starting on the evening of the 11th. The Ukrainian army shot down 6 ballistic missiles and 71 drones launched by Russia in various locations. Putin told Trump in a phone call that the root causes of the Ukraine crisis need to be eliminated. Russian President Vladimir Putin and US President Donald Trump spoke by phone on the 12th. Russian presidential press secretary Dmitry Peskov said the same day that Putin stated during the call that the root causes of the Ukraine crisis need to be eliminated, and he agreed to a long-term resolution of the Ukraine crisis through negotiations. Ukrainian President Volodymyr Zelensky said on the 12th that he spoke with Trump that day to discuss the possibility of achieving peace in Ukraine. In addition, Trump said on the 12th that Ukraine's accession to NATO and the restoration of Ukraine's pre-2014 borders are unrealistic.
The Palestinian Islamic Resistance Movement (Hamas) issued a statement today (February 13), stating that it will continue to implement the ceasefire agreement in the Gaza Strip and will release Israeli detainees as planned. The statement emphasized the need to ensure the continuous entry of aid materials, including tents, fuel, and medical supplies, into the Gaza Strip. On the 10th, Hamas accused Israel of violating the ceasefire agreement, including failing to allow aid materials into Gaza, and therefore announced a postponement of the planned release of Israeli detainees scheduled for the 15th. In response, Israel has repeatedly issued threats of resuming hostilities. According to Egyptian media, mediators have recently intensified their efforts to prevent the ceasefire agreement from breaking down. The International Committee of the Red Cross also called on all parties on the 12th to maintain the ceasefire agreement, fulfill humanitarian responsibilities, and ensure that aid work continues.
EU Holds Emergency Meeting to Counter US Tariff Threat. In response to the United States' announcement of a 25% tariff on all US steel and aluminum imports, EU trade ministers held an emergency video conference on the 12th to discuss countermeasures, including imposing tariffs on certain American products. Poland's Minister of Development and Technology, Waldemar Paszyk, whose country holds the rotating EU presidency, stated that EU countries should stand united and firmly protect the EU's steel and aluminum industries. The day before, European Commission President Ursula von der Leyen issued a statement saying that the EU would take firm and reciprocal countermeasures against the unreasonable actions of the United States. US January CPI Exceeds Expectations. Data released by the US Department of Labor on the 12th showed that the US Consumer Price Index (CPI) rose by 0.5% month-on-month and 3% year-on-year in January, exceeding expectations. The month-on-month increase was the highest since August 2023. Core CPI, excluding volatile food and energy prices, rose by 0.4% month-on-month and 3.3% year-on-year. US media reported that a series of tariff policies recently announced by the US government would further increase inflationary pressure. Strikes Erupt in Belgium and Germany, Affecting Transportation. Public transport, postal services, and education sectors in Belgium held a nationwide strike today (February 13) to protest the government's budget reduction plan for the next five years. All flights across Belgium were canceled today, and approximately half of the buses and trams in the Flemish region of Belgium are expected to be suspended. Public transport workers in Frankfurt, Germany's financial center, held a strike on the 12th, causing all subway and tram services in the city to be suspended that day, significantly affecting citizens' travel. US Navy Electronic Warfare Aircraft Crashes in California. The US Navy stated on the 12th that a Navy EA-18G Growler electronic warfare aircraft crashed off the coast of San Diego, Southern California, that day, and two pilots ejected safely. The US Navy stated that the aircraft crashed during landing, and the specific cause of the crash is under investigation. According to US media reports, in October last year, a US Navy aircraft of the same model crashed during training in Washington State, killing two pilots. Heavy Snowfall for Days in Multiple Parts of Japan, 13 Dead. For several consecutive days, affected by this winter's strongest cold snap, multiple areas in Japan have experienced continuous heavy snowfall. According to data released by the Japanese government today (February 13), the continuous snowfall has caused 13 deaths and 186 injuries. In addition, strong winds occurred in many parts of Japan today, and some railway lines or sections were suspended. The Japan Meteorological Agency urged the public to remain vigilant against adverse weather and potential secondary disasters.
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