XI HIGHLIGHTS CRUCIAL ROLE OF QUANTUM TECH

President Xi Jinping has stressed that China will advance the development of quantum science and technology with more strategic planning, supportive policies and investment, with the aim of fostering a favorable environment for basic research, innovation, talent training and commercialization in this field.

During a group study session of the Political Bureau of the Communist Party of China Central Committee held on Friday, Xi, who is also general secretary of the CPC Central Committee and chairman of the Central Military Commission, said quantum science and technology is at the forefront of a new round of sci-tech and industrial revolutions.

As a result, developing quantum science and technology is of great scientific and strategic significance, he said.

China's scientific and technological workers have made great efforts to catch up in quantum science and technology and have made a number of significant innovations with international influence. On the whole, China possesses strength in terms of science and technology and innovative abilities in this field, Xi said.

However, China's quantum science and technology development still has many weak links and faces multiple challenges, he said, calling for efforts to follow the path of independent innovation, make breakthroughs in key core technologies, ensure the safety of industrial and supply chains and enhance the ability to respond to international risks and challenges.

It is imperative to systematically sum up the successful experience of China's quantum science and technology development, learn from the useful practices of other countries, thoroughly analyze and judge the development trends, and find the breakthrough point for the development of quantum science and technology in China, Xi said.

He advocated more strategic planning, policy support and investment in quantum science and technology. Training more quality talents, granting scientists more resources and autonomy and enhancing international cooperation are also important for the development of this field, he added.

Quantum science and technology is the study and application of the physical properties of matter at the scale of atoms and particles. The foundational theory of quantum physics is quantum mechanics, and the current three major applications of quantum physics are quantum communication, quantum computing and quantum precision measurement.

For decades, scientists have believed that harnessing the bizarre phenomena of quantum mechanics could lead to ultra-secure communication for political, economic and military use.

It can also lead to the creation of ultrapowerful computers that can simulate extremely complex models, allowing new discoveries in fields ranging from medicine to material sciences, as well as greatly improving the accuracy of weather and financial forecasting and the efficiency of machine learning and artificial intelligence.

Chen Yu'ao, a quantum physics professor at the University of Science and Technology of China, said he was greatly encouraged by Xi's speech, which showcased that China is attaching immense significance to this cutting-edge field which is critical for promoting high-quality development and safeguarding national security.

"We are also excited to see support for industrializing and commercializing our basic research into new applications," Chen said.

NBS: CHINA'S GDP GROWS 4.9% IN Q3

China's economy grew by 4.9 percent year-on-year in the third quarter of the year, versus 3.2 percent in the second one, the National Bureau of Statistics said on Monday.

The country's GDP growth reached 0.7 percent year-on-year over the first three quarters of this year, turning positive from negative 1.6 percent in the first half, the NBS said.

The Chinese economy posted a continuous recovery in the first nine months and achieved significant results in coordinating development with epidemic prevention, the bureau said in a statement.

The growth in fixed-asset investment came in at 0.8 percent during the January-September period, turning positive for the first time this year and compared with a 3.1 percent slide in the first six months.

Retail sales increased by 3.3 percent year-on-year last month, sharply up from 0.5 percent in August.

The country registered a 6.9 percent industrial output growth in September, compared with 5.6 percent in August.

Surveyed urban unemployment rate nationwide was 5.4 percent in September, down from 5.6 percent in August.

The NBS, however, noted that external uncertainties and the risk of epidemic resurgence domestically remain. "The economy is still in the process of recovery, and the foundation for sustained recovery needs to be consolidated," the bureau said in a statement.

NEW REFORM MEASURES UNVEILED FOR SHENZHEN

China on Sunday announced a new list of the first batch of authorized matters for comprehensive pilot reforms in Shenzhen, as part of its ongoing efforts to facilitate higher-level reforms and opening-up in the high-tech hub adjacent to Hong Kong.

The list outlined 40 detailed reform measures to be implemented in Shenzhen, such as promoting the reform of the registration-based IPO system in the city's startup board ChiNext, the introduction of a listing transfer mechanism from the country's over-the-counter equity market to ChiNext and piloting domestic issuance of stocks or China Depository Receipts by innovative companies.

The announcement came after President Xi Jinping attended a gathering on Wednesday to celebrate the 40th anniversary of the establishment of the Shenzhen Special Economic Zone, where he called on the city to build itself into a pilot zone for socialism with Chinese characteristics.

Ning Jizhe, vice-minister of the National Development and Reform Commission, said the new list, together with the newly implemented plan for comprehensive pilot reforms in Shenzhen, will unleash huge benefits enabled by reforms for its high-quality development.

"Under the overall framework of the new plan, the list has outlined 40 targeted reform measures, of which more than 20 require adjusting existing laws and regulations," Ning said at a news conference on Sunday.

Dong Dengxin, director of Wuhan University of Science and Technology's Finance and Securities Institute, said the pilot reform highlighted the acceleration of China's capital market reform and further integration of the market with international practices.

"The capital market reform in Shenzhen has taken bolder steps, which will help regulators and market players to gain useful experience and will help improve the fundamental system and efficiency of China's overall capital market," he said.

He said that the reform measures, such as the introduction of stock index futures of Shenzhen-listed shares, will help enrich the financial derivative products in the market and boost the attraction of the Shenzhen market to both domestic and international investors.

The establishment of a listing transfer mechanism from China's over-the-counter equity market to ChiNext will also help the country's smaller innovative firms gain easier access to capital and boost their attractiveness to investors. And the introduction of the listing of Chinese Depository Receipts on the Shenzhen Stock Market will also help facilitate the return of overseas-listed Chinese companies to the A-share market, Dong added.

COMPLETE VICTORY URGED IN POVERTY BATTLE

President Xi Jinping has urged continuous efforts to win a complete victory in the battle against poverty as China marked the seventh National Poverty Relief Day on Saturday.

Xi, who is also general secretary of the Communist Party of China Central Committee and chairman of the Central Military Commission, made the remark in an instruction on poverty relief work.

He said that 2020 is the decisive year in completing the building of a moderately prosperous society in all respects and eradicating poverty nationwide.

Facing the challenges of COVID-19 and severe floods, the CPC Central Committee is unwaveringly determined to achieve the goal of poverty alleviation as scheduled, he said.

Xi urged Party committees and governments at all levels to maintain the momentum and never stop until the country secures a complete victory, as the fight against poverty has entered its final stage.

He noted that all localities and departments should give full play to the system and mechanism of poverty alleviation, while keeping policies stable and consolidating the results with multiple measures.

Meanwhile, efforts should be made to stimulate the endogenous driving forces of poverty-stricken populations and areas in order to advance toward the goal of realizing common prosperity, he said.

The instruction was delivered on Saturday at a national teleconference, at which China honored individuals and institutions with a national award for their outstanding work in poverty alleviation.

The award-winning individuals and institutions delivered reports on their work at the meeting.

Yang Ning, head of Jiangmen village in the Guangxi Zhuang autonomous region and one of the award winners, said the annual per capita income in her village more than tripled to 7,000 yuan ($1,045) over the past few years, thanks to targeted poverty relief programs that have fostered a lucrative business by growing cash crops such as watermelons and mushrooms.

That has also slashed the poverty rate in Jiangmen from 20 percent to nearly zero, said Yang, who returned to work in her home village after graduating from college in the regional capital of Nanning in 2010.

"The transformation of my village is representative of what has been achieved by the national poverty reduction campaign," she said.

Zhang Zhiqiang, Party secretary of Sixian county, a poverty-stricken area in Anhui province, said that to win the local anti-poverty campaign the county sent more than 300 young and capable officials to oversee poverty relief work at village level.

He said the sacrifice and devotion of these officials has paid off, with 17,000 farmers returning to their home villages due to greater job opportunities and the county being lifted out of poverty in 2018. More than 16,000 villagers were lifted out of poverty due to jobs created by the stronger local economy.

"For the past three years, Sixian has ranked among the top 100 counties in China in terms of investment," he said.

Poverty has plagued China for thousands of years. Since the founding of the People's Republic of China in 1949, and especially since the start of reform and opening-up in 1978, the anti-poverty battle led by the CPC has improved the lives of more than 700 million rural people.

Xi assumed the historic responsibility of leading this fight when he was elected general secretary of the CPC Central Committee at the First Plenary Session of the 18th CPC Central Committee in November 2012.

He has convened a series of meetings on poverty alleviation. Before every such meeting, he would visit impoverished regions to conduct research, learn about local situations and hear the opinions of grassroots officials and members of the public.

CAMPAIGN BOOSTS SALES FROM HARD-HIT REGIONS

More than 41 billion yuan ($6.1 billion) worth of farm produce has been sold in 22 less affluent provinces, autonomous regions and municipalities as part of a monthlong sales promotion campaign last month, a senior official announced on China's seventh National Poverty Relief Day on Saturday.

Hong Tianyun, deputy head of the State Council Leading Group Office of Poverty Alleviation and Development, the top anti-poverty office, said the campaign has helped lift the total sales volume of such products to more than 171 billion yuan in recent years.

In nine wealthier eastern provinces and municipalities, including Beijing, Tianjin, Zhejiang and Guangdong, sales reached a total of 53.5 billion yuan, with 21.5 billion yuan worth of products being sold since September, he said.

The campaign was part of a broader effort by central authorities to stamp out the last remnant of rural poverty before 2021.

"Since the campaign was launched last month, local authorities have managed to mobilize businesses, nonprofits and the public to get involved and buy poverty relief products," he said.

"That has helped promote consumption as a tool for poverty relief and nurture a social atmosphere that emphasizes individual contribution," he added.

As part of the campaign, tens of thousands of vending machines have been placed in train stations, airports and other public spaces, selling an assortment of products ranging from tea to bottled beverages and honey that were produced by people in impoverished areas. Authorities in Beijing alone installed about 10,000 such vending machines this year.

Special sections featuring such products have also been created at e-marketplaces including Taobao and JD.com, and at brick-and-mortar retailers including Carrefour.

According to the top anti-poverty office, the vending machines and special sales sections online and offline have generated 8.3 billion yuan in sales.

The novel coronavirus outbreak, which caused widespread disruption to logistic chains, and the floods destroying crops and homes in southern provinces have been heavy blows to relief efforts because farm produce sales have been a major contributor to rural incomes. Lackluster sales also bode ill for the sprawling industries that authorities have fostered in rural regions to develop the local economy and employment.

To address the problem, the All-China Federation of Supply and Marketing Cooperatives launched fupin832.com, an online platform for individual and corporate consumers to purchase officially recognized poverty relief products.

FOREST TOURISM RISING AS PANDEMIC WANES

Forest tourism in China is witnessing an encouraging recovery and is expected to grow steadily in the coming months, the National Forestry and Grassland Administration revealed on Thursday.

An administration official told a news conference that 50 million visits were made to forests and parks during this year's National Day holiday−about half the number during the same period last year.

Although it suffered a setback due to the COVID-19 pandemic, China's forest tourism has been recovering steadily, said Zhang Jianmin, director of the administration's ecotourism management office.

In the third quarter, visits nearly doubled from the previous quarter to 214 million, about 45 percent of the number in the third quarter of last year.

"The recovery trend may continue in the following three months," Zhang said.

China has encouraged eco-friendly tourism in recent years, and the administration has given stronger policy support to forest tourism.

Thanks to those efforts, activities including nature exploration and education, mountain sports and ice and snow tourism have attracted a large number of people.

The administration said 6 billion forest tourism visits were recorded in China between 2016 and 2019, with an annual growth rate of 15 percent.

The economic value of forest tourism last year was about 1.75 trillion yuan ($261 billion).

JOB MARKET MAINTAINS STABILITY AS UNEMPLOYMENT DROPS

The nation's job market has remained stable with its unemployment rate continuing to fall in past few months, said a senior official of the National Bureau of Statistics at a conference organized by the State Council Information Office on Monday.

Liu Aihua, the bureau's spokesperson, said that in September, the nation's surveyed unemployment rate in urban areas was 5.4 percent, down 0.2 percentage points from that in August, a remarkable rise from 6.2 percent fall back in February.

The surveyed unemployment rate of the group ranging from 25 to 59 years old was 4.8 percent in September, 0.6 percentage points lower than the nation's level, pulling even with that in August.

She said the job market was stable thanks to employment-first policy and the government's efforts to boost employment. New jobs created in past three quarters reached 8.98 million, almost reaching the target of over 9 million set in May during the two sessions, she said.

Also, population of migrant workers from countryside totaled about 179.52 million in past three quarters, decreasing by 3.84 million or 2.1 percent year-on-year.

THOUGHT FOR THE DAY

Reading, after a certain age, diverts the mind too much from its creative pursuits. Any man who reads too much and uses his own brain too little falls into lazy habits of thinking. - Albert Einstein