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Channeling Financial “Living Water” to Keep the Real Economy Flowing Smoothly — On July 6, a delegation led by officials from the People’s Bank of China and Jiangnan Rural Commercial Bank paid a visit to our company for an on-site inspection and research.

Release date:

2023-08-23

The report to the 20th National Congress of the Communist Party of China emphasized that we must continue to focus on the real economy as the key driver of economic development. Finance is the core of the modern economy and the lifeblood of the national economy. To stabilize market entities, safeguard the overall economy, and promote high-quality development of the real economy, it is imperative to enhance the quality and efficiency of financial work.

2023 year 7 month 6 On [date], Xie Guangqi, Deputy Director-General of the Monetary Policy Department of the People’s Bank of China; Cheng Yanfen, Deputy Director of the Relending Division of the same department; Zhang Jianjun, Member of the Party Committee and Vice President of Jiangnan Rural Commercial Bank; and other members of the delegation… 11 A delegation from another organization conducted a field visit and research mission at our company, accompanied by Vice Chairman He Jiadong.

                   

Vice Chairman He Jiadong led Xie Guangqi, Deputy Director-General of the Monetary Policy Department of the People’s Bank of China The delegation conducted an on-site visit to our company’s office lobby, production workshops, and other facilities, and discussed… Our company Project construction, development prospects, carbon reduction effects, financing needs, and related matters. An introduction was given.

                   

Jiangsu Longye is an enterprise dedicated to energy conservation and environmental protection in the coking industry. By efficiently recovering waste heat generated from raw coke oven gas during the coking process, it aligns with our company’s goals of conserving energy, building a green coking sector, and achieving energy savings and emission reductions—while also demonstrating significant potential. At the meeting, Xie Guangqi, Deputy Director-General of the Monetary Policy Department of the People’s Bank of China, expressed his hope that we would soon achieve… The vision and implementation of the “dual carbon” goals were commended, with the statement: “As the most important banking sector within China’s financial system, our core function is to provide credit support to the real economy. Given that many industries have low investment returns and long input‑output cycles, it is all the more imperative that we adopt a holistic, long‑term perspective and deliver efficient, targeted support to the real economy. The People’s Bank of China will remain firmly anchored in its market positioning—focusing on our core business, serving the real economy, supporting the private sector, and catering to micro‑ and small‑enterprises—actively shouldering our financial responsibilities. We will stay committed to bolstering the real economy, meticulously refining our operations and innovating product and service models, ensuring a steady flow of financial resources to keep the real economy’s arteries open, and continuing to strive toward making China a global leader in science and technology and an industrial powerhouse.”

 

 

Latest Updates

April Market Overview and Operational Dynamics of the Coking Industry

According to economic data released by the National Bureau of Statistics, in April, the value added of industrial enterprises above designated size increased 4.1% year on year and 0.05% month on month; total retail sales of consumer goods reached RMB 3.7247 trillion, up 0.2% year on year; nationwide fixed asset investment (excluding rural households) declined 2.36% month on month; profits of industrial enterprises above designated size rose 24.7% year on year; as of the end of April, accounts receivable for such enterprises stood at RMB 27.44 trillion, up 7.2% year on year, while finished goods inventories totaled RMB 6.95 trillion, an increase of 6.7%. From January to April, the value added of industrial enterprises above designated size grew 5.6% year on year; total retail sales of consumer goods amounted to RMB 16.4941 trillion, up 1.9% year on year; nationwide fixed asset investment (excluding rural households) reached RMB 14.1293 trillion, down 1.6% year on year; and the total profits of industrial enterprises above designated size totaled RMB 2.43584 trillion, up 18.2% year on year. Among these, the ferrous metal smelting and rolling industry (the steel sector) reported total profits of RMB 7.58 billion, a 51.5% year-on-year decline, while the petroleum, coal, and other fuel processing industry (including coking) posted total profits of RMB 40.42 billion, compared with a loss in the same period last year.