In December 2023, China's commodity supply and demand maintained an upward trend, but the growth rate slowed down. The China Commodity Index was 100.7%, down 0.6 percentage points from the previous month. Ning Jizhe emphasized strengthening counter-cyclical adjustment and making good use of fiscal policy to support economic recovery.

China's Da Bei Nong Group reported a cumulative sales revenue of 9.66 billion yuan for live pigs in 2023. The Ministry of Foreign Affairs highlighted China's role as a key driver of global economic growth. Eighteen ministries issued a plan for public service standards, and four departments promoted smart charging facilities. Internationally, Morgan Stanley turned neutral on the dollar, South Korea's auto sales exceeded 7 million units, and France saw rising inflation driven by energy and service costs.

China's State-owned Assets Supervision and Administration Commission aims to promote a strong start for central enterprises in the first quarter. Meanwhile, OPEC+ plans to hold a virtual meeting in early February to assess the oil market situation, and Malaysia's palm oil inventory in December is expected to be 2.37 million tons.

In the fourth quarter of 2023, China's shipping prosperity index rose to 109.97 points, indicating a return to the boom range. Meanwhile, Chongqing's industrial enterprises above designated size saw a 6.6% year-on-year increase in added value from January to November, with a significant 18.6% growth in November alone.

China's manufacturing PMI fell to 49.0% in December, while high-tech and equipment manufacturing PMIs remained above 50%. South Korea's new ship orders ranked second globally for the third consecutive year, despite a decline. The EU agreed to partial Schengen Area accession for Bulgaria and Romania.

China's Ministry of Industry and Information Technology sets ambitious new energy vehicle credit ratios for 2024 and 2025 at 28% and 38%, respectively. Meanwhile, the US repo market experiences year-end volatility, with repo rates reaching 5.53%, the highest in five years.

From January to November, China's auto manufacturing industry saw a 2.9% year-on-year profit increase. Russia plans to reduce oil and petroleum product exports to Europe to 4-5% this year, while Nigeria and South Africa are nearing their first natural gas supply deal. Cocoa prices have hit a 46-year high due to the El Nino phenomenon.

China's domestic news highlights advancements in chemical industry production, pig production regulation, financial system reforms, and regional market integration. Internationally, Russian giants collaborate on oil and gas projects, Brazil considers limiting oil production, the Eurasian Economic Union signs a development declaration, and India faces challenges in using the rupee for crude oil purchases.

In mid-December 2023, China's iron and steel enterprises produced 19.2892 million tons of crude steel, 18.1456 million tons of pig iron, and 19.6134 million tons of steel. Several joint-stock banks reduced deposit interest rates by 25 basis points in 3-year regular adjustments. The inventory of deformed bar increased by 1.0% from the previous month. China plans to revise the Frontier Health and Quarantine Law to enhance public safety.

China has issued over 800 billion yuan in additional treasury bonds, accelerating infrastructure investment. The Central Economic Work Conference emphasizes expanding high-level opening up and building the 'Invest in China' brand. AI development is entering a critical window period, with MaaS and open-source models set to drive enterprise intelligence. Fund managers predict the end of interest rate hikes in Europe and the US, with potential rate cuts in 2024.

China will implement lower provisional import tax rates for 1010 commodities starting January 1, 2024, while the Federal Reserve signals potential interest rate cuts. The European Central Bank and the Bank of England remain cautious, and the Bank of Korea may cut rates due to weak economic growth. South Korea's fiscal deficit is expected to reach 91.6 trillion KRW by 2024.

China's Central Rural Work Conference stressed the importance of grain and agricultural product production, while the State Council focused on improving the business environment. Internationally, the Bank of Canada hinted at potential further interest rate hikes due to inflation risks, and the UK reported a drop in CPI to 3.9% year-on-year in November.

China's National Development and Reform Commission (NDRC) held a press conference confirming the country's ability to meet economic and social development goals. The UK announced the implementation of carbon tariffs from 2027, covering industries like aluminum, cement, and steel. The Bank of Japan continues its ultra-loose monetary policy, while the EU extends the suspension of rebalancing tariffs on US products until March 31, 2025.

Tensions in the Red Sea have intensified, leading to the suspension of shipping routes by international giants and a rise in shipping prices. Meanwhile, China's National Development and Reform Commission has initiated the preliminary study of the 15th Five-Year Plan, focusing on key issues and innovative measures.

China's economic operation in 2023 is characterized by 'one high, one low, and two flat'. The Central Finance Office expects successful achievement of main economic goals. New regulations for non-bank payment institutions will take effect on May 1, 2024, emphasizing risk management and user protection.