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A-share firms see rising earnings, revenues in Q3, fueled by tech

The third-quarter financial reports of A-share companies have been largely disclosed, with overall earnings and revenues having improved, and strong demand in the tech sector has become a key driving force for firms' performance, according to industry reports. The year-on-year growth rate in net profits expanded in the third quarter, and the single-quarter net profit growth rate for all A-shares in the third quarter was 11.6 percent, said a report by China Merchants Securities. The report also said that the single-quarter revenue growth rate for all A-shares continued to improve, reaching 3.6 percent. The expansion of A-share profits in the third quarter was primarily driven by factors including robust demand in the technology sector. The rapid development of artificial intelligence (AI) applications significantly boosted demand and performance in related industrial chains, such as semiconductors and optical modules, the research report said. The China Association for Public Companies released its third-quarter operating performance report for listed companies on Saturday. As of Friday, 5,446 listed companies had disclosed their third-quarter reports. The data showed that in the first three quarters, listed companies collectively achieved total operating revenue of 53.46 trillion yuan ($7.51trillion) and net profit of 4.70 trillion yuan, up 1.36 percent and 5.50 percent, respectively. Listed companies' third-quarter revenue and net profit increased by 3.82 percent and 11.45 percent year-on-year, respectively, and by 2.40 percent and 14.12 percent quarter-on-quarter, respectively. The association said that AI data storage demand has been expanding, and the listed companies in the storage chip industry have seen increased revenue. China is doubling down on technological innovation to power its high-quality development. The China Innovation Index, a barometer of the country's innovation capability, rose 5.3 percent from the 2023 level to 174.2 last year, the Xinhua News Agency reported, citing data from the National Bureau of Statistics (NBS). The innovation environment has continued to improve, with higher investment, faster growth in outputs and stronger drivers of economic activity, the bureau said. The country's sci tech innovation efforts are delivering an effective boost to growth, with the innovation effectiveness index reaching 132.4 last year, up 1.9 percent from a year earlier, according to the NBS. The sub-index measuring the proportion of added value from new technologies, new industries and new business models in total GDP increased by 4.3 percent year-on-year.

2025-11-28 张梦怡 CATTI练笔英-中

Thriving new consumer trends fuel China's economic vitality

BEIJING, Nov. 4 (Xinhua) -- Imagine a football match with more than 60,000 fans roaring and cheering. A World Cup qualifier? No. A Champions League knockout tie? Guess again. Maybe a Shanghai derby in the Chinese Super League? Sorry, wrong yet again. The correct answer is that this packed and loud stadium witnessed the final of the Su Super League, an amateur soccer competition in east China's Jiangsu Province that has become a nationwide sensation. What unfolded in stadiums during the Su Super League, notably, is offering a window into China's evolving consumer market. When people hear "consumption," many would picture a bustling mall or a person carrying several shopping bags filled to the brim. However, China's consumer market is redefining this term. As the country positions domestic demand as its primary growth engine over the next five years, a diverse array of new consumer trends is taking hold, reshaping the world's second largest economy. Among the major goals listed in the Communist Party of China Central Committee's recommendations for the formulation of the country's development plan for the next five years -- the country aims to significantly increase the share of consumer spending in the economy and continuously improve domestic demand's role in driving economic growth. To achieve this goal, the recommendations call for expanding the supply of high-quality consumer goods and services and the cultivation of a wide variety of new consumption scenarios. China has a solid foundation for realizing this goal. Latest data showed that in the first nine months of 2025, China's total retail sales of consumer goods rose 4.5 percent year on year to 36.59 trillion yuan (about 5.16 trillion U.S. dollars) -- with the pace of growth 1 percentage point faster than in 2024. Also, final consumer spending contributed 53.5 percent of total economic growth during this period, China's Ministry of Commerce said. Backed by pro-consumption policies and technological advances across sectors, new consumption models are gathering pace, helping channel demand into more scenarios and inject more vitality into the economy. QUALITY MATTERS MORE According to the recommendations document issued by the Communist Party of China Central Committee, China will step up efforts to ensure that "new demand drives new supply, that new supply helps create fresh demand." Via policy support and market momentum, quality improvement is set to be a hallmark of the Chinese consumer market in the coming five years. Keqiao, the world's largest textile distribution hub, has long been renowned for materials used in a wide range of products, ranging from curtains to apparel. Today, this bustling district in east China's Zhejiang Province is making inroads into a burgeoning new field. "We've seen rising consumer demand for technical apparel as outdoor sports gain momentum across the country," said Yao Ming, president of Jiangsu Sunfeng Special Material Technology Co., Ltd., a producer dedicated to breathable, sustainable performance fabrics that recently launched an outlet in Keqiao. Currently, an increasing number of textile manufacturers are riding the wave in Keqiao, which in March this year transformed a 2,000 square meter market zone to focus on high-tech outdoor functional fabrics featuring qualities such as thermal insulation, windproofing and water repellency. This strategic shift in Keqiao's textile industry reveals a broader national trend in China. A survey by Trendforesee Consulting found that rather than focusing solely on cost-effectiveness, consumers are increasingly seeking an optimal balance of price and quality -- while prioritizing products and services that maximize happiness, comfort and satisfaction. Quality and personalization will likely become two major driving forces for China's consumption growth over the coming five years, said Zhu Keli, founding dean of the China Institute of New Economy. "Consumer demand is shifting from pure functionality to ease of use -- with technology products such as smart home devices and health monitoring equipment moving into the mainstream." Data from the State Administration for Market Regulation revealed that in the first three quarters of 2025, the number of barcode registered smartwatch models in China had reached 29,000 -- marking a 46.8 percent average annual growth rate since the end of September 2020. In addition, registered smart glasses models totaled 2,000, up 23.5 percent annually. In response to rising consumer expectations when it comes to quality, a transformation is advancing across the entire supply chain. For example, Chinese retail giant Shein is collaborating with research institutions to drive technological innovation and promote a greener, smarter supply chain. In partnership with Donghua University in east China, Shein has developed a new generation of polyester intermediate recycling solutions, which ensure the quality of regenerated polyester products and reduce the cost of recylcing. To further boost product quality improvement, Yu Fengxia, an official at the State Information Center, called for stronger support for corporate research and development -- including establishing a fund dedicated to fostering innovation in technological consumer goods. Efforts should also focus on creating a favorable environment for the technological consumer market, with measures such as tax cuts and coupons to lower the thresholds for technological product consumption, Yu said. EMOTIONS DRIVE CONSUMPTION Made up of teams from 13 cities in Jiangsu, the Su Super League ignited regional rivalries and sparked grassroots participation, emerging as one of the most talked about sporting events in China. Official data show that during the regular season, average match attendance reached nearly 27,000, while cumulative online viewership surpassed 1.7 billion. "I feel incredibly lucky to experience the passion of football and travel with my family. This is what a perfect weekend feels like!" said Li Hui, a football fan from Shanghai who attended the final in Nanjing last weekend. According to Li, he and his family received customized discounts on attractions and accommodation during their stay -- simply by presenting their tickets for the final. To capitalize on the league's popularity, local governments rolled out multiple measures to encourage visitors to stay longer and spend more in host cities. In Wuxi, for example, a football-themed night market served barbecue and beer while an average of 50,000 fans watched each game on outdoor screens. According to the provincial commerce department, since the Su Super League kicked off in May, sales at major retailers, shopping malls and supermarkets in Jiangsu has reached 11.64 billion yuan, a 34.7-percent surge from the same period a year earlier. Fueled by this football craze, Jiangsu's total retail sales of consumer goods hit 3.48 trillion yuan in the period from January to September -- up 4.2 percent year on year and leading the country in terms of value. The league has pioneered a consumption model that blends sporting events, cultural tourism and retail -- and it is spreading nationwide. At present, more than 10 provincial-level amateur football leagues are either underway or slated to begin soon. Analysts note that this model, while fanning sporting passions, is also further unlocking China's consumer potential. Commenting on the Su Super League's unprecedented success, Ding Xiang, a scholar at Nanjing University in Jiangsu, said that emotional value and scenario-based experiences are reshaping China's consumer market -- as consumers show a growing appetite for outdoor, locally rooted and immersive forms of consumption. A broader wave of new consumption scenarios rooted in emotional bonds and cultural identity is unfolding across China. In Hangzhou, the capital of Zhejiang Province, an official "Black Myth: Wukong" theme store has recently opened to the public. Showcasing merchandise from the blockbuster game inspired by Chinese mythology and culture -- including toys, handicrafts and beverages, the Hangzhou store is quickly becoming a must see spot for visitors to this world famous tourist city. In September, the ministries of finance and commerce jointly launched a pilot program to promote new forms, models and scenarios of consumption. To further diversify service consumption, the plan calls for extending major sporting events into commercial districts, neighborhoods and scenic spots, while encouraging deeper use of artificial intelligence, the metaverse and other digital technologies across culture and entertainment, tourism, healthcare and sports. Looking ahead, Chen Sumei, a scholar at the Chinese Academy of Social Sciences, said that key areas of new consumption have positive growth prospects over the next five years. Fueled by the accelerated cultivation of new quality productive forces and the promotion of green consumption, new consumption models will become a significant growth driver for China's economy, Chen explained. Chen added that the country should focus on improving product quality to meet diverse and personalized consumer demands -- while addressing emerging needs across different consumer groups by creating new consumption scenarios and expanding supply.

2025-11-28 张旭琦 CATTI练笔英-中

学习贯彻党的二十届四中全会精神中央宣讲团在外交部宣讲（2025-11-07）

学习贯彻党的二十届四中全会精神中央宣讲团报告会11月7日在外交部举行。中央宣讲团成员、中共中央政治局委员、中央外办主任王毅作宣讲报告。中央外办、外交部、国家国际发展合作署、全国对外友协有关负责同志及党员干部代表参加。王毅围绕习近平总书记重要讲话精神和全会通过的《建议》，深入阐释全会重大意义，深刻分析当前我国面临的外部环境，系统解读“十五五”时期经济社会发展的指导方针、主要目标、战略任务和重大举措等，并就外交外事战线学习宣传贯彻全会精神提出明确要求。王毅指出，全会为不确定的世界注入了稳定性，为全球的发展提供了正能量。外交外事战线要进一步提高政治站位，深入学习领会全会精神和习近平总书记重要讲话精神，在以习近平同志为核心的党中央坚强领导下，更加积极有为开展中国特色大国外交，不断开辟中国外交理论与实践新境界，塑造我国和世界关系新格局，不断提升我国国际影响力、感召力、塑造力。报告会后，王毅与基层党员干部代表交流互动，要求外交外事战线全体同志切实践行习近平总书记对外交队伍提出的重要要求，积极投身强国建设、民族复兴伟业，为构建人类命运共同体作出新的更大贡献。

2025-11-27 刘清梅 CATTI练笔中-英