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MNI China Press Digest Oct 25: NDRC, Postal Volumes, Shenzhen

MNI picks key stories from today's China press.
Central Bank NewsPolicy NewsPBOCHomepageAPACChinaEM Policy NewsChinaEM Central Bank NewsPeoples Bank of ChinaGlobalStoryRegion
MNI (BEIJING)

Highlights from Chinese press reports on Friday:

  • The National Development and Reform Commission will support private firms to lead major national scientific and technological research tasks, and access more research infrastructure, CCTV News reported, citing NDRC officials. The government aims to support diversified research and guide qualified private enterprises to carry out high-risk and high-value tech development, the NDRC said.
  • China’s postal and express delivery industry handled 1.9 billion packages between October 21 and 23, up 48.7% y/y, as Taobao and Tmall conducted the first round of Double 11 shopping festival promotions, data from the State Post Bureau showed. Warehouse managers in Hangzhou told Yicai they plan hiring additional staff to cope with higher volumes, while a branch of Cainiao Express in Zhejiang has increased its autonomous vehicle fleet to 30 units from 20.
  • China’s tech-hub Shenzhen has proposed establishing a group of funds worth several trillion yuan to promote entrepreneurial investment by 2026, with hundreds of billion for industrial and angel investing, Securities Times reported. The municipal government will promote insurance and asset management companies to invest in integrated circuits, biomedicine and artificial intelligence, as well as key industries including high-end equipment and new energy vehicles, the newspaper said.
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MNI (BEIJING)

Highlights from Chinese press reports on Friday:

  • The National Development and Reform Commission will support private firms to lead major national scientific and technological research tasks, and access more research infrastructure, CCTV News reported, citing NDRC officials. The government aims to support diversified research and guide qualified private enterprises to carry out high-risk and high-value tech development, the NDRC said.
  • China’s postal and express delivery industry handled 1.9 billion packages between October 21 and 23, up 48.7% y/y, as Taobao and Tmall conducted the first round of Double 11 shopping festival promotions, data from the State Post Bureau showed. Warehouse managers in Hangzhou told Yicai they plan hiring additional staff to cope with higher volumes, while a branch of Cainiao Express in Zhejiang has increased its autonomous vehicle fleet to 30 units from 20.
  • China’s tech-hub Shenzhen has proposed establishing a group of funds worth several trillion yuan to promote entrepreneurial investment by 2026, with hundreds of billion for industrial and angel investing, Securities Times reported. The municipal government will promote insurance and asset management companies to invest in integrated circuits, biomedicine and artificial intelligence, as well as key industries including high-end equipment and new energy vehicles, the newspaper said.