China's key real estate enterprises saw profits fall by about 50% in Q1, while the container market is expected to enter a stable recovery channel in 2024, better than last year. The first 10,000-ton sea vessel sailed directly to Chongqing, reducing transportation time by 20 days. The Ministry of Industry and Information Technology encourages the use of clean energy like photovoltaics.

China's Standing Committee of the National People's Congress announced the 2024 legislative work plan, focusing on financial stability and green energy. The first 10,000-ton sea vessel sailed directly to Chongqing, reducing transportation time. Key domestic real estate profits fell by 50%, and the container market is expected to recover in 2024.

The National Development and Reform Commission (NDRC) signed three cooperation documents with France during President Xi Jinping's visit, focusing on inter-sectoral exchanges, green development, and aviation. Meanwhile, IDC forecasts that China's ICT market in the power industry will grow to 84.06 billion yuan by 2028, with a compound annual growth rate of 8.7%. Additionally, the Baltic Dry Bulk Freight Index hit a six-week high, and the Russian government announced its resignation.

China's Ministry of Human Resources and Social Security and other departments have launched unemployment insurance policies to help enterprises stabilize jobs. The Politburo meeting suggested a flexible use of interest rates and RRR, with an RRR cut expected before an interest rate cut. The market penetration rate of new energy vehicles exceeds 50%, and the auto market may become dual-tracked. The NDRC held a symposium on large-scale equipment renewal with private enterprises.

China's commodity price index increased by 3% month-on-month in April, driven by rising prices in non-ferrous metals and chemicals. Meanwhile, the development of domestic offshore wind power is expected to show an inflection point, with increased bidding scales and project deliveries.

Shanghai's container exports exceeded 1.2 billion yuan in Q1, up 35.4% year-on-year, as international demand rebounds. Meanwhile, ECB Governing Council member Wensch urges caution on a July interest rate cut, citing market signals and uncertain inflation.

Hainan Province is enhancing financial support for the production of green smart home appliances and new energy vehicles. The central bank is strengthening payment supervision and management, adhering to the red line of reserve fund supervision. Cinda Securities expects the downstream manufacturing industry to perform strongly, with improved margins for the middle and upper streams. Four departments jointly promoted financial support for large-scale equipment renewal and consumer goods trade-in.

Shanghai and Hong Kong signed a memorandum to deepen cooperation in new energy digitalization. The container shipping market improved, with ocean route freight rates rising. Industrial profits for January-March 2024 increased by 4.3%. U.S. stocks saw significant gains, with Google's market cap exceeding $2 trillion.

CFFEX held a symposium to enhance the stability of the financial futures market, while the Shanghai Futures Exchange adjusted risk control measures. Internationally, the U.S. PCE rebounded sharply, causing the three major stock indexes to open lower, and the Fed faces a difficult position due to economic slowdown and inflation rebound.

China's economic recovery remains stable, with key indicators showing positive trends. Several mergers and acquisitions of small and medium-sized banks were approved, enhancing the stability and efficiency of the banking system. The added value of Guangdong's industrial enterprises grew by 6.1% year-on-year in Q1. Internationally, the ECB suggests a single interest rate cut may not lead to a series of cuts, and the IEA predicts 17 million electric vehicles will be sold globally in 2024.

In the first quarter of 2024, China's social insurance funds reported a total income of 2.2 trillion yuan and a total expenditure of 1.8 trillion yuan. The country created 3.03 million new urban jobs, maintaining a stable employment situation. Additionally, AEO enterprises accounted for 36.31% of total import and export volume, while auto imports fell by 4% year-on-year.

China's 1-year and 5-year LPR rates remained unchanged in April, while the promotion and application of hydrogen energy vehicles are expected to accelerate. PetroChina completed the world's first bio-jet fuel physical cargo window transaction, and the Ministry of Water Resources reported a 15.8% increase in water conservancy projects in Q1.

China's cross-border e-commerce import and export in Q1 reached 577.6 billion yuan, growing 9.6%. Shenzhen's import and export volume hit 1.02 trillion yuan, marking the first time it surpassed the trillion yuan mark in the same period over the past decade. The GDP of Liaoning Province increased by 5.4% year-on-year in Q1.

China's trade surplus in goods and services hit over $60 billion in Q1, while unemployment rates showed variations across different age groups. The central bank discussed M2 exceeding 300 trillion yuan and potential monetary policy adjustments. Internationally, Japan's food exports to China fell by 33.6% due to nuclear contamination concerns.

The RMB has depreciated below the 7.1 mark, while the China-US Economic Working Group discussed trade restrictions. Globally, the UK pound rises due to stronger-than-expected inflation, and the Philippine peso falls below 57 per dollar, increasing pressure on the central bank to intervene.