China's market of basic food products including vegetables, fruits, meat, dairy, and aquatic products has maintained ample supply, meeting the consumption needs of urban and rural residents, said the Ministry of Agriculture and Rural Affairs.
The overall prices of daily necessities are seasonally trending upwards, but still remain lower than the same period of last year, according to the ministry.
In July, the wholesale prices of the national food supplies rose by 3.91 percentage points from the previous month, but were 2.29 percentage points lower year-on-year, the ministry said.
In terms of vegetables, prices have recently shown a seasonal increase. Regarding the dispatching situation, the national vegetable production in July reached 77.54 million tons, and the market has operated in a stable manner on the whole.
Due to the adverse effects of hot and rainy weather during the summer in some areas, vegetable growth was impeded, resulting in escalated harvesting costs. Following four consecutive months of decline, vegetable prices have now rebounded.
So far, 106 million mu (about 7.07 million hectares) of land is now planted with vegetables, an increase of 880,000 mu (about 58,667 hectares) over the same period of last year, providing a foundation for stable production and supply.
Affected by recent extreme weather events such as high temperatures and floods, prices of meat and eggs have slightly rebounded after a continuous decline.
Additionally, the overall supply of basic food products such as beef, lamb, milk, and fruits is sufficient, and prices continue to fall. The supply and demand for aquatic products are generally balanced, with prices remaining stable and slightly decreasing.
China's daily necessities market maintains ample supply
China's foreign investment policies are empowering biomedical enterprises to expand domestically and globally.
The China Council for the Promotion of International Trade (CCPIT) held a Foreign Invested Enterprises Tour of south China's Guangdong Province on Wednesday, presenting business opportunities as well as the country's consistent policies for further opening up in a world wracked by economic uncertainty.
China continues to welcome foreign investment, and its biomedical sector, including pet healthcare, is set to grow and expand.
Joey Yeo is among hundreds of international business leaders on the tour. As the founder of two pet healthcare startups in Shanghai, Joey leverages China's pro-foreign direct investment (FDI) measures.
"I think the openness with the local government and the business district has been very fruitful," said Yeo, CEO of HEAL Management Group.
With streamlined approvals and regulatory guidance, Yeo's company plans to scale operations across multiple cities.
"Not just Shanghai, but we used to see other cities as well coming to us and asking us, giving us more opportunities and more understanding how we can actually set a bigger landscape," he said.
Yeo's story reflects broader trends - China's FDI policies have reduced entry barriers, while banks like Bank of East Asia (BEA) offer tailored financial solutions.
"I don't think any multinational company or foreign investors can ignore the huge market capacity, the huge potential of greater China. So we are going through the fintech transformation and by adapting AI, big data, block chains - those kind of technology, we can better help those SMEs in need," said Bi Mingqiang, CEO of BEA(China).
As China prioritizes openness, biomedical firms and financial institutions are forging a symbiotic growth model, proving resilient in a fragmented global economy.
Biomedical companies thrive under China's FDI policies
