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Editor's Note:
This week, China kicked off the two sessions, one of the most important political gatherings annually. The event offers an important window for the outside world to understand China's development, and where the world's second-largest economy is headed and top policy priorities in 2024. 

What are the world's general expectations of the two sessions? And how do foreign economists and think tanks view China's growth potential? Recently, Global Times reporter Li Xuanmin (GT) conducted an interview with Helga Zepp-LaRouche (HZL), founder of Germany-based political and economic think tank the Schiller Institute.

GT: China is holding the annual two sessions this week. What are your expectations for the meeting? 
HZL: I expect that it will address strategic challenges that pose barriers to global development, based on China's vision to build a global community with shared future. Of special interest for me will also be to learn what the idea of building "new quality productive forces" will actually mean, since the Chinese economy is already the locomotive of the world economy. 

Mankind is clearly at a branching point. Since geopolitics is the curse of history, I am hopeful that China's two sessions will show a pathway for the world, and help the world understand how to overcome the mistaken view that a country or a group of countries must defend its interests against another group by all means. It is quite possible for China to establish a new paradigm, where the interests of all can be taken care of. That is a new system, which allows for the development of all.

GT: What is the significance of the political gathering amid rising global headwinds? And from your perspective, what role will China and the Chinese economy play in the world this year?
HZL: Chinese foreign policy has proven to be an anchor of stability. The biggest danger now is the two regional conflicts: the Russia-Ukraine conflict and the Israel-Palestine conflict. And China has made comprehensive diplomatic proposals for both crises, showing the path to a peaceful solution. 

The extension of the China-proposed Belt and Road Initiative (BRI) could play a decisive role in reconstruction for the countries involved in conflict in the context of a regional development perspective. The Schiller Institute has also proposed a concrete economic development plan, the Oasis plan, which could bring peace for all countries involved.

GT: From your perspective, what will be the focal points of China's economic work this year? What are your estimates for key economic figures that will be set during the two sessions?
HZL: The economic work focus this year will be on boosting high technology, high efficiency and high quality of production. Given the high number of scientists and engineers China has, and the addition of around 11 million university graduates per year, the transformation of basic scientific and technological breakthroughs into real production in the Chinese economy will be very significant. 

GT: What role do you expect the Chinese economy to play in the world this year, amid the complex geopolitical situation? 
HZL: There have been increasing tendencies of decoupling and "de-risking," which really amount to the same thing. When the EU is preparing tax barriers against Chinese imports, they are further isolating themselves to their own detriment. I expect China to be a strong advocate for multilateralism, and to build cooperation with the Global South, where there have been tremendous efforts in transforming from exports of raw materials toward economic models based on the value chain. 

Also, naturally the BRICS-Plus - of which China is a founding member - will gain increasing importance this year, and include new credit mechanisms that promote development for all participants. 

GT: The BRI is also high on the agenda of the two sessions. From your perspective, how will China chart a new BRI blueprint in the 11th year of its development?
HZL: Since the development requirements of the Global South are gigantic, in the next decade, the China-proposed BRI offers plenty of opportunities for all nations to work together for their mutual benefit. And if all countries can bear in mind such a perspective, the next decade of the BRI can unleash the creative potential of billions of people.

In terms of European countries, especially Germany and France, they are experiencing a dramatic economic slowdown. So hopefully there will be a greater openness to respond to what the BRI has to offer.

China has established a basic independent industry chain for superconducting quantum computers, and it's one of the very few countries that can independently produce quantum computers, which are believed to be critical for future development, a leading Chinese scientist told the Global Times.

However, as the global race for quantum computing continues to heat up and the US continues to crack down on China's technological rise, "greater efforts are needed to make breakthroughs in key areas that are facing technological blockades by the West," said Guo Guoping, a deputy to the National People's Congress (NPC), China's top legislature, and deputy director of the Key Laboratory of Quantum Information of the Chinese Academy of Sciences.

Chinese scientists unveiled a third-generation superconducting quantum computer known as Origin Wukong developed by Origin Quantum in January. It was based on China's first quantum chip production line, first quantum computer operating system, and first quantum computing measurement and control system. It also marked China's first realization of automated batch testing of quantum chips.

The delivery of that computer made China the third country in the world with the ability to deliver a complete quantum computer, cementing the country's leading position in quantum computing research after achieving quantum superiority, Guo said.

Guo is also the chief scientist of Origin Quantum Computing Technology Co, a leading quantum tech company based in East China's Anhui Province. The company said that its Origin Wukong quantum computer became operational and was opened to global users on January 6. 

As a Chinese scientist in developing quantum technologies, Guo and his team have been engaged in research for 21 years. He told the Global Times that Origin Wukong had completed 160,000 quantum computing tasks for global users as of February 26. 

The number of times it was accessed remotely from more than 104 countries around the world exceeded 2 million. 

Among them, the number by overseas users from the US, Canada, and Russia ranked top three respectively.

In the global arena, the US and China are considered the leaders in the field, and many experts believe that the US still holds an edge, Reuters reported.

Some Western media reports said that China has taken a clear lead in the area of quantum communication, but in terms of developing photonic qubits and error-corrected quantum computers, the US still holds an edge.

Competition in the global quantum computing market is fierce. Meanwhile, there is a gap between China and the West in the industrial application of quantum computing. US-based IBM has made significant strides with dozens of superconducting quantum computers deployed around the world.

China still needs long-term accumulation in the industrial application of quantum computing and Guo emphasized the need for state-level support policies and more investment to ensure that research is turned into applications.

"Developing and expanding China's own manufacturing chains for quantum computing devices is my key focus for this year's two sessions," Guo said, adding that the field of quantum computing has become the main battlefield for China's future strategic competition.

According to his proposal shared with the Global Times, Guo urged to promote the deep integration of quantum computing and related industries as well as accelerate the iterative development of the industry in China.

He proposed accelerating the improvement of China's quantum computing power in order to develop new productive forces.

"It is crucial to apply domestically developed superconducting quantum computers in various industrial sectors to support high-quality development in China by improving production efficiency and boosting innovation," he said. 

Guo said that the development of quantum computers had entered a new stage where foreign institutions and companies were putting great effort into engineering and industrial applications, in addition to research. It's urgent to fill the gap between domestic research and development and its applications.

Guo has made several proposals, such as urging to carry out medium- and long-term strategic planning to promote the industry's growth by boosting investment and nurturing talent.

There should be special projects to support the development of original and leading research. 

Governments and enterprises should jointly tackle key problems to put quantum computers into use as fast as possible, he said, and several industry clusters should be set up in the areas including biomedicine, aerospace, new materials, finance and artificial intelligence.

Political advisors will continue to put forth suggestions and strategies to promote and enlarge employment, a spokesperson for the Second Session of the 14th National Committee of the Chinese People's Political Consultative Conference (CPPCC) said on Sunday, addressing a matter of great importance.

The National Committee of the CPPCC will conduct a wide range of work including the betterment of the support system for the employment of college graduates, conduct more studies on job market stability, and improve and optimize a lifelong vocational training system in 2024, said Liu Jieyi, spokesperson for the second session of the 14th National Committee of the CPPCC, at a press conference.

The top political advisory body will also hold broad consultations to address structural issues affecting employment to help implement the employment-first strategy mapped out by the central government, Liu said.

In 2023, local governments at all levels spent more than 300 billion yuan ($42.21 billion) worth of direct funding to support job creation and entrepreneurship. New urban jobs created in 2023 stood at 12.44 million amid support measures aimed at helping college graduates land jobs and employment incentives for people in need both in urban and rural areas.

The hard-won achievement has laid a solid foundation for the further strengthening of the positive momentum of the job market, according to Liu.

In 2023, political advisors submitted 91 proposals ranging from broadening employment channels for college graduates to enhancing employment flexibility to ways to better leverage the digital economy to address the difficulties faced by college graduates seeking jobs and companies looking for workers, said Liu.

For the acute shortages in finding enough seasoned technicians, political advisors held designated seminars to discuss fostering of an incentive system for innovation-oriented industrial workers. Many of the proposals were translated into government actions.

Liu Yonghao, a member of the CPPCC National Committee and chairman of New Hope Group, suggested that China should cultivate more talent with more incentives and support measures to promote rural revitalization and the building of a robust agricultural industry.

The second session of the 14th National Committee of the CPPCC will begin on Monday.

The cumulative number of China-Europe freight trains has exceeded 85,000, and it has opened a new bridge for economic and trade cooperation for Eurasian continent, Mao Ning, spokesperson of Chinese Foreign Ministry, said on Thursday. 

The routes of the freight trains have grown from scratch, and the transportation capacity has grown "from small to large," and it has opened a new bridge for economic and trade cooperation for Eurasian continent, Mao said. 

In the past decade, the customs clearance and inspection along the China-Europe freight trains have become more convenient, the business environment at ports has continued to be optimized, and international transportation regulations have become more standardized, Mao said. 

Relying on the freight train service, China has achieved closer cooperation with Central Asia and Europe, and its economy and trade have become more prosperous. A large number of companies of international trade, intelligent manufacturing and supply chain have taken root in areas along the route, and industries such as manufacturing, commerce, finance and information are continuously being upgraded, making products welcomed in China and European countries, Mao said.

China-Europe freight trains will continue to operate at full capacity, injecting new impetus into the development of the Eurasian continent, Mao said. 

CCTV.com reported that, since 2024, more than 2,600 China-Europe freight trains have been completed, a year-on-year increase of 5.3 percent, and more than 1,000 trains have been operated in a single month for 46 consecutive months.

At present, China-Europe trains have reached 25 countries in Europe, and the number of connected cities has increased from 217 in 2023 to 219.

China's Foreign Ministry urged the US to stop slandering and smearing China on data security, and maintain an open, fair and non-discriminatory business environment, spokesperson Mao Ning told a press conference on Thursday.

Mao's remarks came after the Biden administration on Wednesday unveiled an executive order barring genomic data transfers to China, Reuters reported, claiming that the US is seeking to protect American personal data over so-called national security concerns.

The order will curb bulk transfers of Americans' geo-location, biometric, health and financial information to specific "countries of concern." 

This is the first time the US has taken such measures, and the US executive order is also seen as the latest escalation of the "digital cold war" between the two countries.

In response, Mao noted that the US has generalized the concept of national security by falsely claiming that China is purchasing sensitive data of US citizens and engaging in malicious activities. "Banning the flow of data to the so-called countries of concern, including China, is a discriminatory practice clearly targeting a specific country, which China firmly opposes," she said.

The Chinese government has always placed great importance on the protection of data privacy and security, and has never, and will never, ask its enterprises or individuals to collect or provide data information and intelligence located in foreign countries for the Chinese government in a manner that violates local laws, Mao said.

China has taken the lead in proposing a global data security initiative, and if the US is truly concerned about data security, it could publicly support China's initiative or make a similar commitment, she noted.

"We asked the US to stop slandering and smearing China, effectively maintain an open, fair and non-discriminatory business environment and work with all parties to formulate universal data security rules, in order to promote the orderly and free flow of global data," said Mao.

Chinese President Xi Jinping met with Belgian Prime Minister Alexander De Croo in Beijing on Friday. De Croo's visit to China is one of the most important high-level contacts between China and the EU this year, following the visits to China by European Council President Charles Michel and European Commission President Ursula von der Leyen in December.

The visit highlights the ongoing dialogue and interaction between China and the EU, especially as Belgium recently assumed the rotating presidency of the Council of the European Union and De Croo will be in a pivotal position to coordinate the EU's policy agenda for the next six months.

EU's relationship with China is complex and multifaceted, with differences between the two sides in a number of areas, including trade imbalances and subsidies, and the conflict in Ukraine. However, these specific issues are set against the backdrop of broader geopolitical and global power shifts that have caused unease in the EU.

Europeans are increasingly aware of China's growing presence on the global stage, not only in the economic sphere but also in the technological and geopolitical spheres.

The changing relationship between the three poles of China, the US and Europe is not a new phenomenon. While the US continues to lead, China and the EU are playing an increasing role on the global stage, which has become more pronounced in the wake of the advancement of Europe's strategic autonomy and the rise of China.

As an ally of the US, the EU continues to be highly concerned about China's rise. This is well illustrated by comparing the covers of two issues of The Economist, a British weekly newspaper, which in 2013 featured the threat of China's carbon emissions to the World. In 2024, the cover showed the new threat of China's lead in green technologies. 

If you imagine China, the US and the EU as three runners on a track, the US is still leading, and China is occasionally ahead of the EU, but most of the time, it is the other way around. It's often the second-place runner that's more anxious.

This race scene also shows us the difference between US and European policy toward China. 

The EU is currently focused on decreasing reliance on foreign high-end technology suppliers, particularly to avoid being surpassed or replaced by China in critical areas, while also implementing protective measures to counter the impact of Chinese manufacturing on the European market. In contrast, the US strives to uphold its global dominance in high-tech fields and key manufacturing areas by constraining China.

The outcome of this competition is different from what the US expected: Rather than rebuilding supply chains to exclude Chinese manufacturing, each player seeks to consolidate and strengthen its position in existing supply chains.

"Decoupling" and "breaking the chain" are not feasible. It is improbable that either party can construct a new, fully independent global supply chain. If the EU adopts the US approach toward China, it may end up more reliant on the US and suffer the most damage among the three parties.

As the EU follows the US containment policy toward China, especially in semiconductor manufacturing equipment, it risks losing a lucrative market with the strongest end-product manufacturing capacity, widening the gap with the US.

The EU's strategic dilemma with China also reflects its strategic dilemma with the US. The EU aims to be the leading global economy but also wants to maintain reliance on the US, strategically using the alliance to build its own influential position globally.

The EU needs to define its approach to China independently. This doesn't mean the EU should draw a clear line with the US, but there is a need for a more pragmatic, rational and comprehensive attitude when considering its relationship with China. It should not always focus on competition with China and ignore the widening gap with the US.

If the EU can more frequently consider its relationship with China from a different perspective, then both China and Europe have competitive and cooperative aspects, with the latter potentially reducing the gap between the two sides and the US, thereby bringing stability to the world's multipolarization.

Therefore, creating more connections between the EU and China is crucial. With more bridges, there will be more roads, improved communication and better understanding. China and EU can establish a new relationship that will support balanced global development.

China's Foreign Ministry on Thursday urged the US to abide by the one-China principle, stop sending wrong signals to Taiwan secessionists, and refrain from interfering in the Taiwan's regional leader election in any form, after reports disclosed that the Biden administration will dispatch a delegation comprised of former senior officials to the island of Taiwan shortly after the island's regional leader election to be held on Saturday.

Chinese experts noted that the US' scheme would be destructive to China-US relations, and is highly likely to trigger countermeasures from the Chinese side, which has reiterated the core significance of the Taiwan question.

Citing people familiar with the plan, the Financial Times (FT) said in a Wednesday report that the White House has tapped James Steinberg, a former Democratic deputy secretary of state, and Stephen Hadley, a former Republican national security adviser, to lead the bipartisan delegation to Taiwan island. 

The FT report said that the purpose of sending the delegation is to ensure Washington was "communicating clearly" with the winning and losing candidates about US policy and the "uniqueness of the unofficial relationship" between the US and Taiwan island.

The Associated Press (AP) said sending the delegation is the "most effective way" to engage the newly-elected authorities and convey US policy.

One senior administration official said that the delegation "will convey the importance of ties" between the US and Taiwan island and also reiterate Washington's "one-China policy," CNN reported, noting that exact composition of the delegation was still being determined, per senior administration officials it reached. 

"Taiwan is an inalienable part of China. China always firmly opposes any form of official exchanges between the US and Taiwan authorities," Mao Ning, a Chinese Foreign Ministry spokesperson said. 

The US side should earnestly abide by the one-China principle, prudently and properly handle the Taiwan question, stop sending any wrong signals to Taiwan secessionists, and refrain from interfering in the Taiwan regional elections in any form, so as to avoid causing serious damage to China-US relations and peace and stability across the Taiwan Straits, Mao said. 

She added that China will take resolute and forceful measures to safeguard national sovereignty and territorial integrity.

Lü Xiang, an expert on US studies at the Chinese Academy of Social Sciences, told the Global Times that the US releasing such a message a few days before the Taiwan regional election is a move apparently aimed at appeasing secessionists on the island, and encouraging voters "not to be afraid to support secessionists."

US tricks cannot change the overall situation of the Chinese mainland seizing the initiative of the cross-Straits situation, Lü said, "China stays focused and will make all kinds of contingency plans. If the US crosses the red line, China will definitely take firm countermeasures."

Citing one former US official, the FT report noted that sending the delegation to Taipei right after the election was a "risky move that could backfire."  

Diao Daming, an expert on US studies at the Renmin University of China in Beijing, told the Global Times on Thursday that disclosing the planning of the trip ahead of the Taiwan regional leader election may suggest that the US believes that whoever takes office can be used by the White House to implement the US' "Indo-Pacific" strategy. 

"If secessionist Lai Ching-te is elected, it will carry out more risk management, and if KMT's Hou Yu-ih is elected, the US will hold him back from getting too close with the mainland," he explained. 

But Washington should be aware that if there is any reaction from the Chinese side, it is the result of US actions, said Diao, "Instead of being concerned about the China's countermeasures, the US should follow through on its promise [on Taiwan question]."

The US move also came amid recent increased interactions between China and US to stabilize strained ties. 

Liu Jianchao, head of the International Department of the Communist Party of China (CPC) Central Committee, visited the US this week, urging it to abide by its commitment to not support "Taiwan independence."

At the Carter Center Forum commemorating the 45th anniversary of the establishment of China-US diplomatic relations on Tuesday, Xie Feng, Chinese Ambassador to the US, reiterated that the Taiwan question is the most important and sensitive question in China-US relations.

China hopes to maintain stability in the Taiwan Straits and does not want to see a conflict between China and the US over the Taiwan question, but the premise is that the US cannot cross the red line, otherwise China will definitely respond in a "tit for tat" manner, Lü said 

China's communication with the US on the Taiwan question is entirely a manifestation of goodwill,Lü said,"If one day China no longer talks about the Taiwan question with the US, it means that China does not consider Washington to be a factor, then the situation will be irreversible."

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.

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.