Skip to Content Facebook Feature Image

China's public procurement boosts economic growth in 2023

China

China

China

China's public procurement boosts economic growth in 2023

2024-05-10 16:31 Last Updated At:18:57

China's public procurement value reached 46 trillion yuan (about 6.37 trillion U.S. dollars) in 2023, dropping 4.16 percent from the previous year, but still meeting the needs to secure national economic growth, according to a report released by the China Federation of Logistics and Purchasing on Friday.

The public procurement refers to the process by which public authorities, such as government departments or local authorities, purchase work, goods or services from companies.

According to the China Public Procurement Development Report 2023, last year, 1.76 million transactions covering project bidding, government procurement, land use rights, mining rights, and state-owned property rights were made on the national public resource trading platform, with the value of transactions totaling 21.9 trillion yuan (around 3.03 trillion U.S. dollars), a year-on-year increase of 17 percent.

To maintain a significant level of procurement expenditure, state-owned enterprises played a crucial role at China's public procurement market, according to the report. The procurement made by central state-owned enterprises reached 13 trillion yuan (around 1.8 trillion yuan) in 2023, benefiting over 2 million small and medium-sized enterprises.

"Public procurement refers to the use of public or fiscal funds to purchase goods and services. Government procurement also has policy functions, including supporting small and medium-sized enterprises, disadvantaged groups and underdeveloped areas, to support industrial policies," explained Hu Dajian, assistant to the president of the China Federation of Logistics and Purchasing.

China's public procurement boosts economic growth in 2023

China's public procurement boosts economic growth in 2023

Next Article

Mainland says Lai sends "dangerous signal" in speech as Taiwan's new leader

2024-05-21 03:02 Last Updated At:03:17

A Chinese mainland spokesperson said Lai Ching-te has sent "a dangerous signal" of seeking "Taiwan independence" and making provocations to undermine cross-Strait peace and stability in his speech upon assuming the role of Taiwan region's new leader on Monday.

Chen Binhua, a spokesperson for the State Council Taiwan Affairs Office, described Lai's speech as one that stubbornly followed the "Taiwan independence" stance, wantonly advocated separatism, incited cross-Strait confrontation and sought independence by relying on foreign support and by force.

Chen said the mainstream public aspiration on the island is for peace and development, instead of war and recession, while Lai has ignored the public opinion, exposing his nature of being "a worker for Taiwan independence."

The current complex and grave situation across the Strait is rooted in the fact that the Democratic Progressive Party has stubbornly stuck to the separatist stance of "Taiwan independence," rejected the 1992 Consensus that embodies the one-China principle, and kept colluding with external forces to make provocations of seeking "Taiwan independence," Chen said.

Taiwan is an inalienable part of China, said Chen, stressing that "Taiwan independence" and peace across the Strait are incompatible as fire and water.

"We have firm determination to resolve the Taiwan question and realize national reunification; we have strong capabilities to safeguard national sovereignty and territorial integrity; and we will take resolute actions to fight separatist activities seeking 'Taiwan independence' and external interference," he said.

"We will never tolerate any 'Taiwan independence' separatist acts in any form," said Chen.

China must and will be reunified, Chen stressed. No matter how the situation on the island changes and who assumes the regional leader, it will not change the fact that both sides of the Strait belong to one China, or impede the historical trend of national reunification, he said.

"We will fully implement the Party's overall policy for resolving the Taiwan question in the new era, unswervingly uphold the one-China principle and the 1992 Consensus, work together with Taiwan compatriots to promote the peaceful development of cross-Strait relations and cross-Strait integrated development, and resolutely advance the reunification of the motherland," said Chen.

Mainland says Lai sends "dangerous signal" in speech as Taiwan's new leader

Mainland says Lai sends "dangerous signal" in speech as Taiwan's new leader

Recommended Articles