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Policy

-The Fourth Plenary Session of the 20th Central Committee of the CPC deliberated and adopted the “Suggestions of the Central Committee of the Communist Party of China on Formulating the 15th Five-Year Plan for National Economic and Social Development”, focusing on the development goals for the period from 2026 to 2030. With the cultivation of new productive forces as the core engine, and centering on the three main lines of scientific and technological leadership, domestic demand promotion, and secure development, it clarifies the key directions such as the future industrial layout, the strengthening of people’s livelihood protection, and the self-control of the industrial chain, providing strategic guidance for Chinese-style modernization.

Sectors

-Ministry of Commerce answered reporters’ questions on the 19th round of EU sanctions against Russia. China urged Europe to immediately stop listing Chinese enterprises. China will take necessary measures to firmly safeguard the legitimate rights and interests of Chinese enterprises, and resolutely safeguard its own energy security and economic development.

Co’s focus

-Anshi China: The relevant decisions of Holland headquarters have no legal effect in China.

Data

-National Energy Administration data: the total electricity consumption of the whole society reached 888.6bn KWH in Sep, up 4.5% y/y. Among this, the electricity consumption of the primary industry was 12.9bn KWH, up 7.3% y/y; that of the secondary industry was 570.5bn KWH, up 5.7% y/y; the tertiary industry consumed 176.5bn KWH, up 6.3% y/y; and the electricity consumption of urban and rural residents for daily use stood at 128.7bn KWH, down 2.6% y/y. From Jan to Sep, the cumulative electricity consumption of the whole society amounted to 7,767.5bn KWH, up 4.6% y/y.

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