[cs_content _p=’3881′][cs_element_section _id=”1″ ][cs_element_layout_row _id=”2″ ][cs_element_layout_column _id=”3″ ][cs_element_text _id=”4″ ][cs_content_seo]McDonald’s Launches Food Supply Base in Hubei
McDonald’s, in collaboration with four food suppliers, launched a smart industrial park in Hubei’s Xiaogan City. The park will produce nearly 300 million loaves of bread, 30,000 tonnes of meat, 30 million pastries, and two billion packaging products annually, enhancing McDonald’s supply efficiency and localization in central and western China.
Surge in Summer Travel and Tourism
China is gearing up for a surge in travel with 860 million railway passenger trips expected in July and August. Domestic flight bookings are up 23% year-on-year. The “summer vacation economy” is thriving with increased demand for educational and family tours, driving economic recovery.
Service Trade Growth
China’s service trade value reached 3.02 trillion yuan in the first five months of 2024, up 16% year-on-year. Travel services led the growth with a 48.4% increase. Knowledge-intensive services also expanded, with imports and exports totaling 1.19 trillion yuan.
Equal Participation in Government Procurement
China’s new three-year action plan aims to ensure equal participation in government procurement for enterprises of different ownerships. The plan supports SMEs, green building materials, and welcomes foreign-invested companies to participate equally in government procurement projects.
CIIE Application Process Begins
The global exhibitor application process for the eighth China International Import Expo (CIIE) in November 2025 has started. The expo continues to attract global businesses, with 26 firms from the U.S., Japan, and Germany signing up. The CIIE has become a key platform for promoting imports and foreign investment in China.
Reduced Fees for Overseas Bank Cards
Visa and Mastercard have reduced transaction fees on overseas bank cards for Chinese merchants, dropping from 2.5-3% to 1.5%. This move aligns with China’s efforts to build a globally compatible payment ecosystem and is expected to encourage more merchants to accept these card payments.\n\n[/cs_content_seo][cs_element_text _id=”5″ ][cs_content_seo]Subscribe to China Economic Daily Brief Newsletter
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