General Secretary Xi Jinping pointed out that accelerating the construction of a new development paradigm is to enhance our vitality, competitiveness, development, and sustainability amid all foreseeable and unforeseeable storms and turbulences, ensuring that the process of the great rejuvenation of the Chinese nation is not delayed or even interrupted. Under the strong leadership of the CPC Central Committee with Comrade Xi Jinping as its core, the construction of the new development paradigm has been steadily advancing. The potential for domestic demand in the super-large market has been continuously unleashed, the pace of scientific and technological self-reliance has accelerated, the blood flow of economic circulation has become smoother, and the foundation of China's economic development has been continuously solidified. Recently, Ningbo Zhoushan Port has opened two new shipping routes to Africa, bringing the total number of routes to 306. Currently, nearly 300 cargo ships travel daily, closely connecting the port with more than 200 countries and regions worldwide, and 27 sea-rail intermodal trains connect many inland provinces to global shipping routes. At the end of March 2020, General Secretary Xi Jinping visited Zhejiang, with his first stop being Ningbo Zhoushan Port. After inspecting the container operations at the terminal in the rain, he emphasized that ports are fundamental and hub facilities, important support for economic development, and Ningbo Zhoushan Port should be built into a world-class strong port. It was shortly after this inspection, at the seventh meeting of the Central Financial and Economic Affairs Commission, that General Secretary Xi Jinping first proposed building a new development paradigm with domestic circulation as the mainstay and domestic and international circulations promoting each other. Subsequently, the Fifth Plenary Session of the 19th Central Committee of the Communist Party of China made comprehensive arrangements for building the new development paradigm, and accelerating its construction was written into the "14th Five-Year Plan" proposals. General Secretary Xi Jinping regards accelerating the construction of a new development paradigm as a strategic layout and a proactive move to seize the initiative in future development, clearly defining the path for China's economic modernization. A series of major deployments have been successively introduced and are rapidly being implemented around accelerating the construction of the new development paradigm. These include fostering a complete domestic demand system, achieving high-level scientific and technological self-reliance, promoting the optimization and upgrading of industrial and supply chains, and establishing a new system for a higher-level open economy. The Third Plenary Session of the 20th Central Committee of the Communist Party of China proposed more than 300 important reform measures to further comprehensively deepen reforms and remove institutional, conceptual, and interest barriers that hinder the smooth flow of domestic circulation and the interplay between domestic and international circulations. The key to building a new development paradigm lies in the unimpeded flow of economic circulation. By adhering to the strategic base point of expanding domestic demand, China continuously uses demand to drive supply, and supply to create demand, promoting a virtuous cycle of the national economy. Measures implemented and showing effect since the beginning of this year include increasing the issuance of ultra-long-term special government bonds, expanding the scope of support for "two major" constructions, intensifying and expanding consumer goods trade-in initiatives, and special actions to boost consumption. The consumer market is bustling. In April, China's retail industry prosperity index reached 50.5%, continuing to operate within the expansion range. New cultural and tourism scenarios are constantly emerging, service consumption is accelerating its upgrade, and new forms of consumption continue to appear. The enormous potential unleashed by the super-large market injects continuous endogenous动力 into China's high-quality economic development. Effective investment continues to expand. Currently, 98% of the 102 major projects deployed in the "14th Five-Year Plan" have started construction or have been completed. Projects supported by 700 billion yuan of ultra-long-term special government bonds in 2024 have essentially all started, and project lists for approximately 100 billion yuan in 2025 have been issued in advance. The "two major" projects supported by ultra-long-term special government bonds have driven about 2.1 trillion yuan in social capital investment. By breaking bottlenecks and barriers, the construction of a unified national market is accelerating, and the blood flow of economic circulation is further smoothing. Currently, the contribution rate of domestic demand to China's economic growth is close to 70%, becoming the main driver and stable anchor of economic growth. The most essential feature of building a new development paradigm is achieving a high level of self-reliance and self-improvement. Since the beginning of the year, the continuous emergence of innovation vitality has been astonishing. Hangzhou's "Six Little Dragons" have become popular, domestic AI large models have risen rapidly, and China has achieved multi-point breakthroughs in fields such as integrated circuits and humanoid robots, with more and more "chokehold" problems being overcome. In Benxi, Liaoning, the smart production line of a century-old steel plant is "rolling out" the world's widest automotive steel, like rolling dumpling wrappers. In Optics Valley, Wuhan, laboratories are connected to production lines, and "a beam of light" has created an optoelectronic information industry cluster with a scale of 600 billion yuan. In Hefei High-tech Zone, a full aerospace information industry chain covering "satellite manufacturing - satellite launch and operation - data application" is being built. Today, 80 national advanced manufacturing clusters are spread across the eastern, central, and western regions, covering all key industrial chains, and a modern industrial system that is independently controllable, safe, reliable, and highly competitive is continuously strengthening its foundation. The endogenous动力 and reliability of the domestic circulation are continuously improving, releasing strong attraction to global factor resources. Since the beginning of the year, a batch of major foreign investment projects have been successively implemented. In the first two months, 7,574 new foreign-invested enterprises were established nationwide, a year-on-year increase of 5.8%. At the same time, China is promoting independent opening-up with greater efforts, including expanding pilot programs for opening up in telecommunications, healthcare, and education, and further reducing items on the negative list for market access. This is to build a higher-level open economic system, enhance the linkage between domestic and international markets and resources, and accelerate the formation of a new development paradigm. This year is the concluding year of the "14th Five-Year Plan" and the year for planning the "15th Five-Year Plan." Facing various uncertainties in the external environment, China is calmly and firmly handling its own affairs with an "all-embracing" attitude. By accelerating the construction of a new development paradigm and promoting high-quality development, China will inject more certainty into global economic development through its stable development, and lay a solid foundation for the great rejuvenation of the Chinese nation and the successful realization of the goal of building a comprehensively strong socialist modernized country.
The Ministry of Commerce announced today (April 12) that since the intensified implementation of the trade-in policy for home appliances last August, consumers have cumulatively purchased 100.35 million units of home appliance trade-in products. This year, the home appliance trade-in policy has been further strengthened and expanded, with further optimization in terms of subsidy scope and policy procedures. As of now, consumers' purchases of 12 major categories of home appliance trade-in products have driven sales of 124.74 billion yuan.
To counter the impact of arbitrary U.S. tariffs, the Ministry of Commerce is intensifying efforts to promote the integration of domestic and foreign trade, guiding industry associations, key supermarkets, and e-commerce platforms to leverage their respective strengths to help expand domestic sales of foreign trade products. Import and Export Chambers of Commerce for electromechanical products, textiles and apparel, light industrial furniture, medicine and healthcare, minerals and chemicals, food and livestock products, as well as five major industry and circulation associations including the China General Chamber of Commerce, China Federation of Logistics & Purchasing, China National Textile and Apparel Council, China Chain Store & Franchise Association, and China Department Store Business Association, have jointly issued an initiative to help foreign trade enterprises expand channels and connect with brands. JD.com will massively procure products originally for export that are now shifting to domestic sales, accelerating the construction of its self-operated system for export-to-domestic conversion. Alibaba, Douyin E-commerce, Kuaishou, and 14 other e-commerce platforms will launch eight measures, including direct order procurement, special foreign trade zones, traffic support, and green channels. Yonghui Superstores and China Resources Vanguard will provide "domestic sales" express channels for foreign trade enterprises. In the next step, the Ministry of Commerce will build a platform for foreign trade enterprises to expand domestic sales, continuously enhancing the confidence and morale of China's foreign trade and Chinese enterprises in responding to various risks and challenges.
The 5th China International Consumer Products Expo will officially open tomorrow (April 13) in Haikou, marking the first major international exhibition held in China since the beginning of the year. This year's expo, themed "Sharing Open Opportunities, Creating a Better Life," covers a total exhibition area of over 160,000 square meters, attracting more than 4,100 brands from 71 countries and regions. It encompasses emerging consumption fields such as digital consumption, health consumption, and green consumption. This expo will feature, for the first time, a dedicated AI exhibition area and a low-altitude economy exhibition area. Over 20 leading global consumer electronics and cutting-edge technology companies will showcase new products, technologies, and services in areas such as humanoid robots, flying cars, and digital consumption. Additionally, Beijing will serve as the host province for the first time at this expo. During the expo, the Ministry of Commerce will also launch the "High-Quality Foreign Trade Products Tour across China" activity, leveraging the advantages of China's super-large domestic market to help foreign trade enterprises expand their development space. Currently, all preparatory work for the expo is complete. To facilitate consumption for foreign exhibitors and buyers, a diversified payment system including mobile payments, foreign currency exchange, and digital RMB payments has been set up within the venue.
Today (April 12), the first C909 aircraft delivered to Lao Airlines made its commercial maiden flight, marking another entry of a domestically produced aircraft into the air transport market of a "Belt and Road" co-construction country. At 11:17 AM, the C909 aircraft flew from Vientiane, Laos, to Pakse, successfully completing its first commercial flight in Laos. The C909 aircraft is a turbofan regional jet developed independently by China, with a range of 2,225 to 3,700 kilometers. Currently, 162 C909 aircraft have been delivered to more than ten domestic and international customers, accumulating operations on 688 routes and serving 159 cities. In addition, the domestic large aircraft C919 continues to add new routes this year. Air China, China Eastern Airlines, and China Southern Airlines have a total of 16 C919 aircraft in commercial operation, flying more than 20 routes and transporting over 1.7 million passengers cumulatively.
Since the beginning of this year, Qinghai has adapted to local conditions, leveraging the unique ecological endowments of the plateau region to tap into "cold resources," transforming characteristic industries such as cold-water fish and cool-season vegetables into "hot industries," with products selling well in both domestic and overseas markets. Let's look at the reporter's interviews and research in Qinghai. At 7:00 AM, the aquaculture base in Longyangxia Reservoir, located in the hinterland of the Qinghai-Tibet Plateau, is bustling. Through vacuum fish pumps, cold-water fish, from water around 10 degrees Celsius, smoothly come ashore via pipelines. This advanced fishing method largely ensures the taste and quality of the fish meat. The enterprise负责人 told the reporter that Qinghai has now established a complete industrial chain from cold-water fish fry cultivation to smart aquaculture, processing, and sales. Last year, the province's cold-water fish exports exceeded 300 million yuan, a nearly tenfold increase year-on-year, accounting for 90% of the national export volume for similar products. This year, the growth momentum continues to improve, and products have entered more than ten countries and regions. The accelerated export of cold-water fish is inseparable from the support of modern logistics and innovation in government services. Local customs, together with customs in multiple regions, have jointly explored a new "airline belly cargo" supervision model, opening up cold chain export channels for plateau inland cities. In the first quarter of this year, Qinghai's cold-water fish air cargo exports increased by 400% month-on-month. Not only cold-water fish, but more "cold resources" on the Qinghai-Tibet Plateau are stimulating hot growth potential. These days, in the Qianmu cool-season vegetable base in Huzhu County, with an average altitude of 2,600 meters, kale is growing well. This year, Qinghai has comprehensively promoted technologies such as water and fertilizer integration and green prevention and control, promoting standardized production in 312 vegetable bases across the province. In the first two months of this year, Qinghai's cool-season vegetables, represented by beetroot, pea shoots, and kale, not only sold well in the domestic market but also saw their export volume exceed 1,000 tons for the first time. Nowadays, relying on its plateau ecological advantages and modern logistics system, Qinghai is forging a new path for characteristic industrial development.
Today (April 12), a strong cold front continues to affect China, with strong winds entering their peak period in northern regions, and heavy rain and snow still occurring in areas like the Northeast. The Central Meteorological Observatory continues to issue blizzard and gale orange alerts, and a sandstorm blue alert. Since yesterday, many parts of northern China have experienced strong winds and sand. Beijing issued its first gale orange alert in nearly 10 years, advising residents not to go out unless necessary. At 1 AM today, Mentougou District in Beijing experienced the strongest winds, reaching level 14, with gusts generally above level 8 across the city. Strong winds affected many areas in Tianjin and Hebei, accompanied by sand, and some areas in Zhangjiakou, Hebei, experienced snowfall. Blowing sand and dust occurred in Gansu and Ningxia, with sandstorms in some areas. Yinchuan environmental sanitation departments organized personnel to spray water for dust reduction and high-pressure wash streets and public facilities. Affected by this cold front, the Northeast region will experience heavy snowfall today and tomorrow. In Hulunbuir, Inner Mongolia, snowfall caused more than 540 inbound tourists to be stranded at the port, and local departments have now properly accommodated the stranded personnel. Since yesterday, many parts of Heilongjiang have experienced snowfall, and relevant departments have promptly carried out snow removal operations. Southern China also ushered in its strongest wind and hail weather this year. Some areas in Jiangxi, Anhui, and Hunan experienced torrential rain, with some areas accompanied by level 8-10 thunderstorms and gales. Yesterday afternoon, Wuyuan, Jiangxi, experienced short-term strong convective weather. Along the Fujian coast, 77 passenger ferry routes were suspended, and all 97 water construction projects were halted. Guangdong issued a red alert for thunderstorms and gales today, with several water passenger routes in the Pearl River Estuary suspended. Due to extreme weather conditions such as strong winds, some trains on lines including the Beijing-Guangzhou High-Speed Railway, Beijing-Shanghai High-Speed Railway, and Zhangjiakou-Datong High-Speed Railway were suspended today; as of 4 PM, 699 flights were canceled at Beijing's two airports. In Zhejiang, 124 water passenger ferry routes along the coast were suspended, with all 71 water passenger routes in Zhoushan waters completely halted. Currently, transportation departments are actively strengthening consultation and judgment, closely monitoring weather changes and equipment status, and ensuring passenger safety.
China's Express Delivery Volume Exceeds 50 Billion Parcels This Year Data from the State Post Bureau shows that as of April 11, China's express delivery volume has exceeded 50 billion parcels this year. Since the beginning of the year, with the intensified and expanded policy of trade-in for consumer goods, the logistics and delivery orders for digital products, household appliances, and kitchen and bathroom equipment have seen rapid growth. 210 Listed Companies Announce Share Buybacks and Incremental Holdings This Week This week, 210 listed companies disclosed plans for share buybacks and incremental holdings, with a combined upper limit of nearly 90 billion yuan for the intended buybacks and增持, setting a historical record. Share buyback and incremental holding plans indicate that listed companies or their controlling shareholders are confident in the company's future development, sending a positive signal to stabilize market expectations. 16 Financial Measures to Support High-Quality Development of Sports Industry The People's Bank of China and three other departments recently jointly issued a document proposing 16 financial measures to support the high-quality development of the sports industry. These include strengthening financial guarantees for sports infrastructure construction, increasing financial supply to the sports goods manufacturing industry, and supporting financial empowerment for professional sports and the ice and snow economy. China Approves 50 Public Hospital Reform and High-Quality Development Demonstration Cities The National Health Commission announced today (April 12) that as of now, China has approved 50 public hospital reform and high-quality development demonstration cities in three batches, with each city receiving a central government subsidy of 500 million yuan. This initiative aims to standardize diagnosis and treatment, support the construction of clinical specialties such as pediatrics in municipal and county-level public hospitals, and establish a number of key specialties in municipal and county-level public hospitals. China to Support Private Enterprises in Participating in Virtual Power Plant Construction The National Development and Reform Commission and the National Energy Administration have issued a document encouraging private enterprises and other social capital to participate in the investment, construction, and operation of virtual power plants. By 2027, the national virtual power plant regulation capacity is expected to reach over 20 million kilowatts. A virtual power plant is an energy management system that integrates distributed power resources such as photovoltaic systems and charging piles through IoT technology, enabling flexible peak shaving and valley filling. Shanghai Releases 20 Measures to Support "Little Giant" SMEs Development Shanghai recently launched 20 specific measures to promote the growth and strengthening of "little giant" specialized and innovative small and medium-sized enterprises (SMEs). Efforts will focus on six major areas, including promoting high-growth development, fostering high-level innovation, and reducing total factor costs. This includes strengthening full-chain cultivation, building a digital platform for tiered cultivation of "little giant" SMEs, and supporting enterprises in scaling up, strengthening, transitioning to joint-stock companies, and listing. Haiyang Nuclear Power Unit 3 Begins System Debugging China National Nuclear Power recently announced that the power system of Haiyang Nuclear Power Unit 3 in Shandong has completed trial operation, marking a new phase of system debugging for the unit. Haiyang Nuclear Power currently has two units in operation and two under construction. Upon full commissioning in 2027, the annual power generation capacity is expected to reach 40 billion kilowatt-hours. Xuantian Lake Double-Track Grand Bridge of Chengdu-Chongqing Mid-Line High-Speed Railway Completed Today (April 12), the Xuantian Lake Double-Track Grand Bridge, a key control project for the entire Chengdu-Chongqing Mid-Line High-Speed Railway, was successfully joined, laying a foundation for the timely opening of the entire line. The main line of the Chengdu-Chongqing Mid-Line High-Speed Railway is 292 kilometers long, with a design speed of 350 kilometers per hour. After completion and operation, the fastest commute time between Chengdu and Chongqing will be reduced from 62 minutes to less than 50 minutes. "Harmony and Beauty: Songs of Splendor" Concludes Tonight The large-scale international cultural exchange program "Harmony and Beauty: Songs of Splendor," jointly produced by China Media Group and the Ministry of Culture and Tourism, will broadcast its finale tonight (April 12) at 8:00 PM on CCTV-1. This episode will take audiences into various museums, listen to cross-border dialogues of civilizations, and jointly create a splendid, integrated, and innovative audio-visual feast.
Various circles in Vietnam, Malaysia, and Cambodia eagerly anticipate President Xi Jinping's visit, expecting it to elevate China's relations with the three countries to a new level and inject new impetus into the construction of a community with a shared future in the neighborhood. In 2025, Malaysia will serve as the rotating chair of ASEAN and the coordinator for China-ASEAN relations. Various circles in Malaysia expressed their anticipation that President Xi's visit will further promote bilateral cooperation in various fields and advance the building of a closer China-ASEAN community with a shared future. Various circles in Cambodia expressed their belief that President Xi's visit will push the building of a Cambodia-China community with a shared future to a higher level.
Multiple parties stated that the US tariff policy threatens the global economy, and that the US's unilateral approach is detrimental to itself and others, and extremely absurd. On the 11th, Spanish Prime Minister Pedro Sánchez, currently visiting China, told reporters that the US suspension of tariffs does not mean the crisis is over, and that countries worldwide should strengthen cooperation. On the 11th, the European Union held an informal meeting of economic and finance ministers and central bank governors. All parties stated that they would unify their stance in trade negotiations with the US. Scholars from multiple countries said that the US's unilateral actions are self-defeating and extremely absurd. Hussein Ibish, a senior resident scholar at the Arab Gulf States Institute, stated that the US government's reckless tariff war has caused immense uncertainty and unpredictability, undermining investor confidence in the American market. US Dollar Index Plummets, Treasury Yields Soar; Analysts Say Market Losing Confidence in the Dollar On the 11th, the US dollar index continued to fall. The dollar fell to a ten-year low against the Swiss franc and a more than three-year low against the euro. US 10-year Treasury yields saw their largest weekly increase in over two decades. US April Consumer Confidence Index Falls In addition, a report released by the University of Michigan on the 11th showed that the US consumer confidence index for April was 50.8, down from 57.0 in March. This marks the fourth consecutive month of decline for the index. The report's负责人 stated that market confidence plunged sharply due to concerns over escalating trade tensions.
Russia Claims Downing Many Ukrainian Drones, Ukraine Claims Repelling Russian Attacks The Russian Ministry of Defense stated on the 11th that over the past week, Russian forces carried out 8 cluster strikes on Ukrainian military airfields, mercenary deployment points, and other targets, shooting down 1,200 Ukrainian fixed-wing drones. The Ukrainian side claimed on the same day that it repelled dozens of Russian attacks in the directions of Kharkiv and Pokrovsk. --- Israeli Military Attacks Continue, Humanitarian Situation in Gaza Strip Severe According to Palestinian media reports on the 11th, Israeli military attacks continued in Khan Younis in the southern Gaza Strip and the Maghazi refugee camp in the central part, resulting in two civilian deaths and dozens of injuries. The Israeli military claimed on the same day that it attacked about 40 military targets of Palestinian armed groups in the Gaza Strip. On the 11th, the UN Office for the Coordination of Humanitarian Affairs reported that under Israel's complete blockade, various supplies in the Gaza Strip are running out, bakeries are closing, medicines are depleted, and water supply has sharply decreased. --- Houthi Movement Claims US B-2 Bomber Entered Yemeni Airspace Yemen's Houthi movement claimed on the evening of the 11th that Sana'a and Hodeidah provinces in Yemen were subjected to US airstrikes, and also stated that US B-2 bombers entered Yemeni airspace, flying over several provinces. The Houthi movement also claimed on the same day that it attacked the US aircraft carrier USS Truman and its accompanying vessels in the Red Sea, as well as military targets in Tel Aviv, Israel. The US Central Command stated on the 11th that the USS Truman Carrier Strike Group continued to conduct military operations against the Houthi movement. US Central Command also stated that the USS Carl Vinson, which has arrived in the Middle East, is performing missions alongside the USS Truman. --- Small Plane Crashes in Florida, US, 3 Dead, 1 Injured On the 11th, a Cessna 310 twin-engine small plane crashed near a state highway shortly after taking off from Boca Raton Airport in Florida, US, resulting in 3 deaths on board and 1 injury on the ground. Local media reported that before the crash, the pilot reported mechanical failure and attempted to return to the airport. The specific cause of the accident is still under investigation.
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