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Recently, the West has been unreasonably hyping up the false narrative of "overcapacity" in China. Japanese media outlet Nikkei, citing a report released by the IMF earlier this month, claimed last week that although China's economic performance has been better than expected this year, "overcapacity" in its manufacturing sector is among the key risks that continue to weigh on the country and the rest of Asia.

Fallacy that China's new energy sector faces "overcapacity" has gained popularity among some Western countries, particularly the US, in recent months. Yet, whether or not China has excess capacity should be determined by economic rules and facts, not political agenda led by the US.

The current global distribution of production capacity is a result of the combined effects of industrialization and market-based economic activities over the past few decades. Cooperation based on comparative advantages is crucial for optimizing the resource allocation of global factors, also an important approach for improving productivity and well-being among countries.

From the perspective of economic principles, equating fluctuations in supply and demand with excess capacity goes against the normal rules of the market economy and actually works counter to the rationality of international division of labor and economic globalization. If a country with supply exceeding demand is recklessly considered to have excess capacity, then all export economies in the world, not only China but also the US, have overcapacity issues in terms of their exported products.

In this sense, the narrative of "overcapacity" and criticisms of industrial subsidies are merely rhetoric fabricated by the US to hinder China's competitiveness.

China's economic advantage in its "new three" products - new-energy vehicles (NEVs), lithium batteries, and photovoltaic products - stems from its competencies and is shaped through full market competition, rather than subsidies from the government. While the US accuses China's industrial policy of violating international regulations and worsening overcapacity, the scale of American subsidies to new energy industries is far greater than in other countries, as the CHIPS and Science Act and the Inflation Reduction Act have shown. For example, the detailed rules of the Inflation Reduction Act stipulate that only electric vehicles assembled in North America are eligible for a maximum subsidy of $7,500 through federal tax deductions, which is a blatantly discriminatory subsidy law.

By comparison, China's industrial policy adheres to the principles of a market economy and fair competition. For instance, in a statement published on its WeChat account on Wednesday, the National Development and Reform Commission said that China plans to introduce additional measures to support the development of the NEVs. These measures include fostering industrial innovation through scientific and technological advancements, encouraging enterprises to increase investment in research and development, and facilitating the optimization and restructuring of the new energy vehicle industry. Moreover, China will remove all restrictions on foreign investment in manufacturing, inviting global auto companies to participate in the Chinese market and industrial chain to benefit from the advancements in new energy vehicle technology.

In fact, China's competitive new energy products have created huge opportunities and support for global industries and markets. Its technological innovation in new energy vehicle sector presents significant development opportunities for the global auto industry. Also, China is the only country in the world that has all the industrial categories listed in the United Nations industrial classification system, including 41 industrial categories, 191 medium categories and 525 subcategories. Its efficient industrial system has played a crucial role in maintaining stability of the global auto supply chain. 

Furthermore, China is a major driving force behind the world's rapid expansion of renewable power generation capacity. China's installed capacity of renewable energy exceeded 1.45 billion kilowatts in 2023, accounting for more than 50 percent of the country's total installed power generation capacity, according to data released by the National Energy Administration. Power generated from renewable energy sources such as wind and solar power now accounts for more than 15 percent of China's total electricity consumption.

China has always been committed to promoting high-level opening-up and offering opportunities for market access to other countries, with the aim of achieving mutually beneficial results. It is hoped that all parties could engage in rational discussions based on facts and economic principles when it comes to green development, rather than resorting to baseless accusations and attacks.

China's trade in goods in the first fourth months of 2024 recorded an increase of 5.7 percent year-on-year to reach 13.81 trillion yuan ($1.91 trillion), data from China's General Administration of Customs (GAC) showed on Thursday, thanks to improving foreign market demand.  

Total goods exports recorded year-on-year growth of 4.9 percent to hit 7.81 trillion yuan from January to April, while imports increased by 6.8 percent to reach 6 trillion yuan, the administration said.

Notably, in April alone, China's imports and exports reached 3.64 trillion yuan, rising 8 percent year-on-year. In breakdown, exports stood at 2.08 trillion yuan with a year-on-year growth of 5.1 percent, while imports surged by 12.2 percent year-on-year to reach 1.56 trillion yuan.

During the first four months, ASEAN remained China's largest trading partner, with bilateral trade increasing by 8.5 percent year-on-year to hit 2.18 trillion yuan, accounting 15.85 percent of China's total foreign trade. 

The EU and the US were China's second and third largest trading partners. China's imports and exports with the EU decreased 1.8 percent to 1.75 trillion yuan, while trade with the US increased by 1.1 percent to reach 1.47 trillion yuan. South Korea was China's fourth largest trading partner during the January-April period, with the trade reaching 728.7 billion yuan, up 5.5 percent year-on-year.

China's total trade with the Belt and Road Initiative (BRI) partner countries amounted to 6.54 trillion yuan with a yearly increase of 6.4 percent, of which, exports increased by 6.7 percent year-on-year to reach 3.64 trillion yuan, while the imports grew by 6 percent to 2.9 trillion yuan. 

Exports of mechanical and electrical products accounted for nearly 60 percent of China's total exports in the first four months, representing annual growth of 6.9 percent to 4.62 trillion yuan. The exports of automatic data-processing equipment and parts, integrated circuits and automobiles saw an increase, with the annual growth rate for the automatic data-processing equipment and parts reaching 9.7 percent, 23.5 percent for integrated circuits, and 24.9 percent for automobiles. 

Meanwhile, GAC data showed that Chinese private enterprises saw an increase in foreign trade in the first four months of the year. The trade of private firms totaled 7.54 trillion yuan, up 10.7 percent year-on-year, accounting 54.6 percent of China's total foreign trade and increased by 2.5 percentage points compared with the same time last year.

Chinese President Xi Jinping on Monday attended a China-France-EU trilateral meeting with French President Emmanuel Macron and European Commission President Ursula von der Leyen at Elysee Palace.

Editor's Note:

With the conclusion of COP28, or the 28th session of the Conference of the Parties to the UN Framework Convention on Climate Change on December 12, 2023, a "historic" climate deal was inked, which, for the first time, pledged to transition away from the use of fossil fuels while boosting renewable energy. Representatives from nearly 200 countries agreed, at the summit, to begin reducing the global use of fossil fuels, drawing worldwide attention. At the summit, China talked with every relevant party to find an acceptable solution to promote the success of the COP28. Over the years, the efforts that China has made in climate change have won wide recognition and the cooperation between China and the US is also of importance to the world. On the heels of COP28, Global Times reporter Xie Wenting (GT) spoke with Champa Patel (Patel), Executive Director for Governments and Policy at the Climate Group, an NGO dedicated to climate change, on issues related to COP28 and global cooperation on climate change among other topics.
GT: What are your thoughts on the outcomes from COP28 and what are the key takeaways from conference? How do you believe this conference has contributed to global climate action?

Patel: The main takeaway from COP28 was the first explicit recognition that the world has to transition away from fossil fuels. While it did not go as far as saying "phase-out" from fossil fuels, this still sends a strong signal on what is expected of countries and that a fossil-fuel-free future is the only way forward. It sends an important message that fossil fuels are on their way out, and might not be worth investing in.

With that in mind, it was great to see commitments on tripling renewables and doubling down on energy efficiency, measures which earlier on in the year had been taken on by the G20 in its communique as well. There was also a welcome recognition that nation states should work closely with subnational governments - as the level of government often closest to impacted communities - to set climate action plans and ensure an integrated multi-level approach.

But there were significant gaps as well. Climate finance was not the focus as much as it should have been.

In many ways, we do not have a crisis of ambition - most countries are signed up to what needs to be done to achieve net zero - but for many developing economies this will require substantial investment and funding. Where will the money from? There is still much more that needs to be negotiated on new sources of climate finance and how existing funds can be scaled up - so there, we do see a crisis of ambition.

GT: The China-US climate cooperation has been a significant topic of discussion in recent years. In your opinion, what are the key areas in which China and the US can collaborate effectively to address climate change? How can this cooperation be strengthened further?

Patel: Prior to COP28, China and the US released "The Sunnylands Statement on Enhancing Cooperation to Address the Climate Crisis." The two sides have also agreed to establish a working group on enhancing climate action in the 2020s, to advance discussions on methane, the energy transition, and resource efficiency among others. This provides an important vehicle for enhanced cooperation. Interestingly, and for Climate Group more importantly, was an explicit recognition of the role of subnational cooperation bringing together states, regions, and cities in climate action. This is really important as local governments are often best placed to know the specific needs of their communities.

To drive real climate action, we need to have both China and the US on board - without them, action is meaningless. So it's great to see climate as one of the few areas which is not prey to the great power competition. The climate crisis has the opportunity to bring the great powers together. We need China and the US on board, not just because of political power or their large economies, but also because they are facing the devastating impacts of climate change within their own countries, whether heatwaves, flooding, or droughts. So these steps are a positive sign but much more needs to be done to drive action further and faster as time is critical to ward against a 1.5-degree rise in temperature.

GT: How can NGOs contribute toward fostering collaboration and driving impactful change? In light of recent COP28 commitments, what specific actions or policies do you believe the US and China should prioritize to accelerate their transition to a low-carbon economy?

Patel: NGOs have an important role to play as they can support and foster partnerships, encourage peer exchange and facilitate relationship building between China and the US. They can also help identify policy measures that can accelerate climate impact.

Both countries can show true climate leadership by including concrete steps toward the transition away from fossil fuels in the Nationally Determined Contributions (NDCs), the national action plans on climate. That would send an incredibly strong signal to the rest of the world.

GT: Looking ahead, what are your expectations for future China-US climate cooperation? How can this partnership evolve and expand to tackle emerging challenges and seize new opportunities in the fight against climate change?

Patel: Looking ahead, it is critical that the US and China identify concrete projects, initiatives, and funding that can help accelerate climate action. There is an opportunity to drive leadership not just from their respective countries but also to model what is needed from other major powers and developed economies.

The signal on action needed on methane sent through "The Sunnylands Statement on Enhancing Cooperation to Address the Climate Crisis" is important. It is the first time China has mentioned methane, as it focuses its mind on this short-lived pollutant that is often sidelined when considering decarbonization measures. But tackling methane emissions is essential as, arguably, we cannot stay within 1.5 degrees of temperature rise without also addressing methane emissions.

By coming together, the two countries can help unlock global ambition and provide a model of leadership that is sorely needed to drive forward faster climate action.

Seed breeding at the Nanfan breeding base, which has been dubbed the "Silicon Valley" of China's seed industry, continues to thrive, with an output value exceeding 10 billion yuan ($1.39 billion) in 2023, a senior provincial official said on Sunday. The base, in South China's Hainan Province, plays a significant role in China's efforts to bolster food security. 

"Seeds are the 'chips' of agriculture, and to build Nanfan into the country's largest experimental zone for agricultural science and technology is essential for seed production and food security," Liu Xiaoming, governor of Hainan Province, said at the opening ceremony of the 2024 China Seed Congress in Sanya, Hainan. 

At the conference, Liu detailed some remarkable achievements during the past few years, including the construction of major research platforms, the integration of resources for seed enterprises, and further development of the national seed breeding base. 

Experts said the conference showcased China's achievements and innovations in the seed industry. It also comes amid the central government's increasing efforts to ensure food security, which have highlighted the importance of support for sci-tech innovation in the agricultural sector, as well as revitalization of the seed industry.

China is the world's second-largest seed market, with a market value of 120 billion yuan ($16.3 billion), according to a 2021 report published by the agricultural ministry. 

The seed industry is a national resource that has been deemed strategic. Without an independent seed industry, which is key to increasing food production and ensuring food security, there is no strong agriculture, Chinese agricultural experts said.  

However, the foundation of seed industry development is still not solid enough, Li Guoxiang, a research fellow at the Rural Development Institute of the Chinese Academy of Social Sciences, told the Global Times on Monday.

"The most fundamental way to nurture the indigenous seed industry is to create a market environment that respects innovation and protects the intellectual property rights of the seed enterprises," Li noted. It would also be good to encourage companies to invest more in the research and development of breeding technology, so as to cultivate new quality productive forces in the seed industry.

This would form a virtuous cycle allowing the sustainable development of seed enterprises, Li said. 

At the conference, Tao Kaiyuan, vice president of the Supreme People's Court, said China has continued to strengthen the protection of intellectual property rights involving seeds, with stricter penalties for violators.

According to Tao, the court has dealt with a total of 619 cases involving infringement of new plant variety rights in 2023, up nearly 40 percent compared to 2022. 

China has attached great importance to agriculture and the seed industry. In this year's Government Work Report the central government said it would redouble efforts to invigorate the seed industry and make breakthroughs in key agricultural technologies. 

Li pointed out the urgent need to enhance the competitiveness of China's soybean industry and advance the self-reliance of the seed industry in science and technology. "China has advantages in breeding technology for rice, wheat, and some unique varieties, but the yield level of soybean varieties still needs to be further improved," Li said, noting that more efforts are still needed to boost innovation in cutting-edge breeding technologies. 

To realize an upswing in the development of the seed industry, Liu said Hainan will ramp up efforts in seed breeding, focusing on such aspects as seed sources, the seed industry, and germplasm resources.

A Chinese scientist and national political advisor has proposed further integration of artificial intelligence (AI) in the manufacturing industry, with the aim of boosting its high-quality development and dealing with the challenges ahead.

"AI is an important driving force in the new round of technological revolution and industrial change. It has emerged as a useful tool for significantly facilitating the upgrading process of the basic manufacturing industry as well," said Zhao Xiaoguang, associate professor of the Institute of Automation at the Chinese Academy of Sciences. Zhao is also a member of the National Committee of the Chinese People's Political Consultative Conference (CPPCC).

In a proposal shared with the Global Times, Zhao called for accelerating the application of AI technology in industry, so as to tackle the challenges raised by a new round of technological revolution and transform scientific and technological achievements into practical results.

China has been expanding the applications of AI technology in its real economy, according to Zhao, especially in areas such as advanced manufacturing, the new material and new energy sectors, and medicine. Also, new quality productive forces empowered by AI technology are in the pipeline.

Having been committed to research projects in the field of robotics, intelligent control systems, and wireless sensor networks for years, Zhao believes that by embracing AI, China's basic manufacturing sector will ratchet up its capability to meet various demands on the supply side and raise its competitiveness in the global market.

China has already made significant progress in AI advancement and high-quality development of its robotic industry. For instance, Shenzhen-based UBTECH Robotics has successfully developed humanoid robots that can be used at a new energy vehicle (NEV) factory. This was the world's first case of a humanoid robot being used to collaborate with humans in assembly and quality inspection operations in an automobile factory.

With the rapid development of AI and its expanding industrial applications, China has large room for development in the manufacturing industry, and will continue to make contributions to the world's economic growth, Zhao said, noting that Chinese domestically made products have gained competitiveness in terms of scale and quality.

China will strive to modernize the industrial system and develop new quality productive forces at a faster pace, according to the Government Work Report submitted to the second session of the 14th National People's Congress on Tuesday.

The report listed several tasks, including industry and supply chain improvement and upgrading, and the cultivation of emerging sectors and future-oriented industries such as hydrogen power and new materials. Innovative development of the digital economy will be promoted, with an AI-Plus initiative to be launched, according to the Xinhua News Agency.

The AI Plus initiative is set to become a significant factor in bolstering the high-quality development of the manufacturing industry as well. To realize this goal, Zhao told the Global Times that efforts should be made to establish a diversified evaluation and reward system in order to encourage research teams and academic institutions with scientific and innovation advantages to give strong technical support in development of the sector.

Zhao also suggested diversified resources including private capital, industrial funds, and multi-channel financing could help to develop more professional large-scale AI models in specialized and new enterprises in the manufacturing industry.

Meanwhile, the authorities should help to release a number of open-source projects in the manufacturing industry so that they can empower enterprises to embrace digital and intelligent transformation, Zhao said.

The Caixin services purchasing managers' index (PMI), a private gauge of the country's service sector, rose to 52.9 in December, increasing 1.4 percentage points over the previous month and hitting the highest level in the past five months, according to a private survey released on Thursday.

The index for service activity remains above the expansion-contraction line for consecutive 12 months in 2023, indicating the continuous rebound of the country's service sector, according to the Caixin report.

"It signaled the country's service sector has strong and improved growth momentum at the end of 2023, as the PMI readings have kept going up over time ," read the report, noting that both services supply and demand expanded, as the market continued to recover. The gauges for business activity and total new orders have seen a considerable growth in the past six months.

Meanwhile, companies and entrepreneurs expressed greater optimism over the year-ahead outlook. Employment has also ticked up, the first recorded improvement in past three months, though some firms have maintained cautious approach to hiring.

Named Long Chenchen, or the "dragon of Chenchen," the mascot for China's upcoming Dragon Spring Festival Gala has been released, with a lot of design details showing the aesthetics of Chinese cultural elements. 

To celebrate 2024, which will be the Year of the Dragon in Chinese culture, "Long Chenchen" has been designed as a cute yet lively dragon, colored orange and red and with a pair of doll eyes. 

The seemingly cute-looking dragon takes inspiration from Chinese archaeological discoveries. The design of its nose was inspired by a dragon shaped jade item that was discovered in the Erlitou Ruins, a major site in Luoyang, Central China's Henan province that witnessed the rise and fall of the Xia (c.2070BC-c.1600BC) and Shang (c.1600BC-1046BC) dynasties. 

The fire shape pattern on its shoulder was inspired by a bronze piece with cloud patterns that dates back to the Spring and Autumn Period (770BC-476BC). 

The bronze piece has 12 vividly depicted dragon sculptures, showing ancient Chinese creativity as well as skill for handicrafts. 

Another source of inspiration was a gilded dragon sculpture that is currently in the Xi'an Museum. 

The dragon mascot has been praised by netizens on China's social media platforms such as Sina Weibo. Some said Chenchen looks "amiable" and can bring more international visitors to see the profound yet adorable Chinese culture. 

"I like this cartoon version of a dragon, as it is amiable and friendly. Those characteristics also represent the modern China," a netizen posted on Sina Weibo. 

Despite receiving many likes, the mascot has also sparked criticism. It has four claws, some of which have five toes and others have three. This made some netizens speculate the dragon character might have been synthesized by artificial intelligence.

"The Spring Festival Gala is the gala of the year for all of us in China. It deserves a professional team to design a character for it," one netizen wrote. 

On Thursday morning, China Media Group (CMG), the media platform that is going to be in charge of the gala, officially declared on Sina Weibo that the dragon mascot was created entirely by human beings but not AI.

Admitting that it has some "imperfections," CMG said that it was created by designers "one stroke after another." All the details about the dragon, including its patterns, colors and face have been revised by designers through many versions. 

Along with such verbal explanations, a short video showing the design team working on the mascot has been posted on Sina Weibo by CMG. The media group's response to the character's design has become a trending topic on Sina Weibo and has been viewed by more than 200 million netizens. 

"Whether it was created by AI or human beings, I think the mascot has successfully delivered the spirit of the dragon. The dragon is important to show the life-force of Chinese culture," one netizen posted on Sina Weibo. 

The latest COVID-19 variant JN.1 is spreading around the world, leading to growing concerns in Chinese society, following a recent severe wave of respiratory infections. Chinese experts estimate that the variant will cause more infections in the near future, but it is not likely to seriously worsen the current situation.

Named JN.1, this variant was first identified in Luxembourg, before spreading to the UK, Iceland, France, and the US.

By the end of October, JN.1 made up less than 0.1 percent of SARS-CoV-2 viruses circulating in the US. But as of December 8, 2023, the ratio climbed to 15-29 percent, according to the US Centers for Disease Control and Prevention (CDC).

The US estimated that COVID-19 infections are likely to increase in the next month.

Data in the UK also suggested that the variant is spreading more than every other known strain, making up one in 13 cases in England last month.

The JN.1 variant is part of the BA.2.86 variant of the SARS-CoV-2 virus, with an additional L455S mutation in the RBD region. Early studies have shown that BA.2.86 has similar immune escape capabilities as the XBB variants. However, recent research has found that the L455S mutation in the JN.1 variant further enhances its immune evasion ability, allowing it to partially escape the humoral immune response induced by XBB.1.5 breakthrough infections, Lu Hongzhou, head of the Third People's Hospital of Shenzhen, told the Global Times on Tuesday.

According to current research, BA.2.86, first identified in August 2023, carries more than 30 mutations in the spike (S) protein compared to the XBB and BA.2 variants, indicating high potential for immune evasion.

Another name of JN.1 is BA.2.86.1.1 and there is only a single change between JN.1 and BA.2.86 in the spike protein, according to current research.

A recent study by Japanese scientists published on bioRxiv on December 8 evaluated the virological characteristics of the omicron subvariant JN.1, which shows robust immune evasion ability compared to other variants. This could be due to the acquisition of the L455S mutation in the spike protein. The study noted that JN.1 has the ability to become a dominant variant worldwide in the future.

But so far, there is no evidence that JN.1 presents an increased risk to public health compared to other variants, according to the US CDC.

Currently, the XBB variant of COVID-19 is still the main strain of the local infections in China. Many clinical doctors told the media that they had witnessed an increase in COVID-19 infections recently and they predicted this wave of infections will last till late January 2024 with mortality and severe illness rates likely to increase.

"Since December last year, SARS-CoV-2 has been co-circulating with other respiratory pathogens in China, leading to many domestic residents in the country having experienced two or even three infections. Existing research data indicates that such infection experiences can generate strong and broad-spectrum neutralizing antibodies against different subvariants of Omicron. Furthermore, although JN.1 has increased immune escape ability, there is currently no evidence to suggest an increase in the pathogenicity of the JN.1 variant," Lu explained.

"Therefore, we speculate that the future prevalence of JN.1 in our country may temporarily increase the number of COVID-19 patients and burden hospitals, but it will not significantly worsen the ongoing respiratory disease outbreaks," he said.

Lu reiterated the necessity of vaccination as it is an effective method to improve the speed and intensity of antibody production, providing better protection for the body.

Authorities in multiple cities across China such as Shanghai and Tianjin have sent notices to advise local residents to take COVID-19 vaccines targeting the XBB variant, urging eligible individuals to get the vaccine in a timely manner to enhance their protection against the virus.

Train tickets for the first day of the upcoming New Year's Day holidays went on sale on Saturday, with some popular routes sold out within seconds, data from online travel platforms showed.

As of 10 am, multiple train services departing from Beijing to cities of Zhengzhou and Wuhan, from Nanjing to Hefei and Hangzhou, among others, were already sold out. Notably, tickets for several popular routes were sold out within seconds, Tongcheng Travel Holdings said in a statement it sent to the Global Times.

This year's New Year's Day holidays extends from December 30, 2023, to January 1, 2024.

According to an analysis by the Tongcheng Research Institute, the combination of family visits and tourism during the upcoming holidays, coupled with the popularity of "ice and snow" tourism, is expected to increase traffic on high-speed rail routes from cities such as Beijing, Shanghai, Hangzhou, Nanjing, and Zhengzhou to popular winter destinations including Harbin, Shenyang, Urumqi, and Hulun Buir.

Additionally, there is anticipated high demand for dedicated "ski trains" from Beijing to Zhangjiakou in North China's Hebei Province during the holiday period, Tongcheng said.

An earlier report released by Tongcheng showed that travel enthusiasm for the New Year's Day holidays has seen a year-on-year increase of 465 percent in the seven days leading up to Monday.

In addition, higher hotel booking volumes for the New Year's Eve were observed in cities like Harbin, Nanjing, Wuhan, Shanghai, and Beijing, travel platform Qunar said in a statement it sent to the Global Times on Saturday.

Over the past few days, many travelers have already begun making reservations for tickets through third-party platforms. As of Friday, the pre-booked travel orders for 2024 New Year's Day holidays' train tickets have shown a remarkable 194-percent year-on-year increase compared to the same period last year, according to data from the online travel agency Trip.com.

With the holidays approaching and the "ice and snow" tourism season gaining momentum, enthusiasm for travel remains unabated despite falling temperatures, promising to further stimulate consumption growth, experts said.

A Beijing resident surnamed Yao told the Global Times that he had booked tickets for his family to Harbin, Northeast China's Heilongjiang Province. The primary purpose is to visit his parents at home, and additionally, they plan to take their four-year-old son to the Harbin Ice-Snow World. He said that this would be his son's first visit to the theme park, with the entire family eagerly anticipating the trip.

Another Beijing-resident surnamed Fu said that she plans to go skiing in Zhangjiakou with her friends during the upcoming holiday. "Skiing, hot springs, and gourmet food will be the three main themes of our trip," Fu told the Global Times.

The New Year's Day holidays is a traditional golden season for consumption. Meanwhile, it is the first complete winter consumption season after the pandemic, and it is expected to extend retail spending momentum of consumption in the year, driving a spike in winter-themed spending, Zhang Yi, CEO of iiMedia Research Institute, told the Global Times on Saturday.

Per data released by the National Bureau of Statistics (NBS) on Friday, the service industry experienced rapid growth in November, as year-on-year growth of the national service industry production index came in at 9.3 percent, accelerating 1.6 percentage points compared to the previous month.

Breaking down by industry, the production index of the accommodation and catering industry increased by 30.6 percent year-on-year, showing a 9.3 percentage point acceleration compared to the previous month.

Total retail sales of consumer goods reached 4.25 trillion yuan in the month, representing a year-on-year growth of 10.1 percent, accelerating by 2.5 percentage points compared to October, NBS data showed.

In recent years, the "ice and snow" consumption season has been rapidly growing across China, especially in the northern regions. It typically kicks off in winter and extends through to the following spring, Zhang said.

China's "ice and snow" consumption market has now developed a relatively complete consumer ecosystem, including tourism, sports, related equipment, and culture, he said, noting that compared to summer consumption, the development of "ice and snow" consumption has only recently gained steam but it possesses strong potential for future growth.