Big data changes life

  • Prices for Neon have been rising rapidly recently, in the short term, global semiconductor companies have 6 months inventory of the noble gas.  • China, as a major steel producer, has mature purification technology and production process for these noble gases, around 30% of noble gases for wafers above 8-inch are Chinese suppliers.  • It takes 3 to 6 months to find replacement due to the complex process of chip lithography; this crisis will accelerate the domestic substitution of Chinese semiconductor material manufacturers.

  This report is the 17th annual survey that KPMG has published for China’s banking industry. This edition provides analysis of China’s economic and financial conditions, a review of banking development and its outlook going forward, interpretation of regulatory policies, analysis of important topics, and banks’ performance data. Amid rising uncertainties in the industry, we have invited experts from KPMG China’s various banking service lines to analyse important issues in depth and provide insights into development trends. Our discussions focus on topics such as digital transformation, sustainability, risk management, data-driven initiatives, and management compliance. From industry best practices and tech development trends, to business scenario innovation, we have shared our exclusive insights into the industry’s current situation, and provided ideas for innovative solutions.

  • China’s GDP grew 5.5% year-over-year (yoy) in 2023 H1, posting a steady economic rebound. In Q2, the economy rose by  6.3%, up from 4.5% in Q1, largely thanks to a low base. On a quarter-on-quarter basis, China’s GDP plummeted to 0.8% in Q2  from 2.2% in Q1, showing a slowdown in the domestic economic recovery.  • With Covid-19 restrictions lifted, retail sales saw a solid recovery in H1 2023, and the contribution of consumption to economic  growth continues to expand. Consumer sentiment improved modestly and the share of households indicating higher savings  dropped slightly (but remains high).   • Manufacturing and infrastructure investments held up relatively well, growing 6.0% and 10.7% in H1 2023, respectively.  However, momentum has weakened somewhat recently. Looking ahead, investment in high-end manufacturing and the  upgrading of equipment will likely continue to see robust growth.   • The property market recovery has slowed down since April, the growth rate of key indicat

  Doing business in China has undergone signifcant changes in the past few years. While thecountry has been a magnet for foreign investment over the last three decades and is expectedto remain so in the foreseeable future, businesses operating in China now encounter mountingchallenges. These challenges stem from the uneven recovery of China's economy, increasinggeopolitical risks, and various internal and external headwinds.

  Accelerating the green and low-carbon transition of energy is the fundamental measure tocope with global climate change and the energy crisis. The Chinese government is activelypromoting the process of low-carbon energy transition by strictly controlling and graduallyreducing the proportion of coal in the energy structure. The proportion of clean energy inenergy production and consumption continues to rise. According to relevant policies, theproportion of non-fossil energy consumption in China will reach over 80% by 2060.

  The year 2023 commemorates a decade of the Belt and Road lnitiative(BRl). BRI is a widely recognized global public good and internationalcooperation platform that encapsulates a vision of advancing commonprosperity and development. lt serves as a crucial facilitator of policycoordination, facilities connectivity, unimpeded trade, financial integration,and people-to-people bonds among participating countries. Over the pastdecade, international infrastructure cooperation has remained a top priorityand key focus of the BRl. Guided by the principle of extensive consultation,joint contribution, and shared benefits,participating countries havesuccessfully created a number of high-quality projects that have improvedlivelihoods, enhanced environmental sustainability, and boosted economicgrowth. These efforts have not only raised the level of infrastructuredevelopment in participating countries but have also provided a strongimpetus for their industrialization, urbanization, and modernization

  In 2015，China's National Development and Reform Commission.Ministry of Foreign Affairs, and Ministry of Commerce, released theVisions and Actions on Jointly Building Sik Road Economic Belt and the21st-Century Maritime Silk Road. This document highlighted the uniquestrengths of the Macao SAR and emphasized its vital role in the “Belt andRoad” Initiative (BRl). Over the years, the Macao SAR government hasfirmly committed itself to meeting the country's needs by leveraging itsown strengths. By seamlessly integrating high-quality resources with theBRl, Macao has become an essential cog in the machinery of nationaldevelopment. Macao's distinct role as one center, one platform, andone base" has become more pronounced over time, and its considerablecontributions to the development of the Guangdong-Hong Kong-MacaoGreater Bay Area and the Guangdong-Macao In-Depth Cooperation Zonein Hengqin have been impressive. As a key stakeholder in the BRI and avital bridge between China a