Briefly

Wealth fund beats 10-year target

China Investment Corp, China's major sovereign wealth fund, announced on Friday that its overseas investments posted a net return of 14.27 percent in US dollar terms last year, and the annualized cumulative 10-year net return reached 8.73 percent in 2021, beating its 10-year performance target by 296 basis points.

New yuan loans at 615.2b in October

China's new yuan-denominated loans totaled 615.2 billion yuan ($86.64 billion) in October, central bank data showed. The figure decreased by 211 billion yuan from the same period last year partly due to a high base of comparison, according to the People's Bank of China. The M2, a broad measure of money supply that covers cash in circulation and all deposits, increased 11.8 percent year-on-year to 261.29 trillion yuan at the end of last month.

Low-carbon plan for building materials

China has released a plan to advance low-carbon development in the building materials sector, a large producer of industrial carbon emissions, vowing to secure a carbon peak target in the industry by 2030. Considerable headway should occur in adjusting the industrial structure of the sector during the 14th Five-Year Plan period (2021-25), according to the plan jointly unveiled by four government organs, including the Ministry of Industry and Information Technology. Efforts will further promote energy-saving and low-carbon technologies and reduce the energy consumption and carbon dioxide emissions per unit of GDP in key products including cement, glass and ceramics during the period, the document said.

Auto exports hit record high

China's automobile exports hit a record high in October, data from the China Association of Automobile Manufacturers showed. The country exported 337,000 motor vehicles last month, surging 46 percent year-on-year. The figure also represented a 12.3 percent increase over the number registered in September, said the association. Some 279,000 passenger cars were sold overseas in October, climbing 40.7 percent year-on-year and up 11.6 percent month-on-month.

Xinhua - China Daily