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China’s financial institutions have enhanced their support for the real economy, with 251 trillion yuan of RMB loans balance registered at the end of July, said a spokesman of the National Financial Regulatory Administration on Wednesday.
“At the end of July, the balance of RMB loans stood at 251 trillion yuan (about 35.19 trillion U.S. dollars), marking an increase of 13.5 trillion yuan (about 1.89 trillion U.S. dollars) since the beginning of the year. Meanwhile, the balance of bond investments by banking and insurance institutions reached 103 trillion yuan (about 14.44 trillion U.S. dollars), reflecting a rise of 4.9 trillion yuan (about 690 billion U.S. dollars). Additionally, the balance of insurance funds utilization amounted to 31 trillion yuan (about 4.35 trillion U.S. dollars), showing a 7.4 percent increase,” said Xiao Yuanqi, deputy head of the administration.
The structure of financial resources has been further optimized, Xiao added.
“Support for advanced manufacturing and technological innovation has been strengthened, with manufacturing loans increasing by 11.4 percent year on year by the end of July, while loans to high-tech industries grew by 13.9 percent. Financial services for small and micro enterprises, as well as the agriculture, rural areas, and farmers, have also improved, with inclusive small and micro enterprise loans rising by 17.1 percent year on year by the end of July. Additionally, the financial sector’s support for the health industry and the silver economy has intensified, with loans to the elderly care industry up by 16.1 percent from the beginning of the year,” he said.
In terms of integrating the digital economy with the real economy, loans to core industries in the digital economy increased by 12.4 percent year on year. Furthermore, the insurance industry has played a critical role in supporting the rapid recovery of production and daily life following natural disasters such as floods. In the first seven months of the year, insurance payouts reached 1.39 trillion yuan (about 190 billion U.S. dollars), representing a year-on-year increase of 30.2 percent. By the end of July, the insurance industry had provided 28.5 trillion yuan (about 4 trillion U.S. dollars) in various financing supports through bonds, stocks, and other channels, he said.
China’s financial sector shows robust support for key industries by July
An impressive array of 27 different types of humanoid robots are garnering attentions from visitors at the 2024 World Robot Conference (WRC) that officially started in Beijing on Wednesday.
Amid the country’s rapid development of the humanoid robot sector, this year’s conference marks the largest ever exhibition of humanoid robots.
A robot, which can gracefully play the Chinese dulcimer, has captivated visitors with melodious music.
According to exhibitors, it can acquire the skill in a mere two to three days.
Another robot that resembles a young man can mimic its partner’s expressions in real time by interpreting facial movements captured by a camera adjacent to it. “He” is capable of producing over 30 different facial expressions.
Additionally, a robot hand adepts at playing the hand game rock-paper-scissors is a hit at the conference. Its quick calculations and precise movements enable the robot to secure a winning streak.
A home-grown running humanoid robot named “Tiangong” is also on display, capable of running six kilometers per hour.
According to its developer based in Beijing, running on a treadmill is more challenging than on the ground, as the robot must adjust its strides to the moving belt.
Looking forward, the robot is anticipated to be able to run on a variety of terrains, including grasslands, sands, and hills, the developer said.
Liang Liang, deputy secretary-general of the Chinese Institute of Electronics, said the humanoid robot sector has huge potential for future development, calling for combined efforts to further promote the industry.
“Humanoid robot is a product and even an all-rounder of artificial intelligence and robotics. It has a smart brain such as vision sensors and high-performance computing chips, nimble cerebellum-like inertial measurement units, as well as flexible limbs such as agile hands and bionic legs and feet. It is an important carrier of general artificial intelligence, and a key representative of the new quality productivity. In the future, there will be enormous development space and opportunities. So we will effectively use the platform of the World Robot Conference to jointly promote the development of technology and industry,” he said.
According to the organizer, the five-day event will convene 416 guests, including preeminent scientists from across the world, entrepreneurs and academicians, to chart the future of humanoid robots.
Furthermore, 169 global companies, including ABB, Tesla, Kuka and SMC, will show their 600-plus exhibits throughout the conference.
Humanoid robots steal limelight at WRC 2024