In January, the Medium-term Lending Facility (MLF) incremental parity continued at 995 billion yuan. Experts predict that Reserve Requirement Ratio (RRR) and interest rate cuts are likely to occur in March or April. Additionally, China Development Bank issued 7.6 billion yuan in loans to support high-standard farmland construction, and the cumulative volume of postal express delivery packages increased by 4.8% month-on-month.

On January 12th, the National Bureau of Statistics released data showing that China's CPI fell by 0.3% year-on-year in December 2023, while PPI fell by 2.7%. Experts predict stronger interest rate cuts in January and a possible RRR reduction after the Spring Festival to boost economic growth and market confidence.

China's automobile sales reached 30.094 million units in 2023, a 12% increase year-on-year, with exports up 58%. Public charging piles in December 2023 saw a 51.7% year-on-year increase, totaling 2.726 million.

The Chinese Ministry of Commerce is studying and reserving new policies to boost foreign trade, focusing on cross-border e-commerce and the 'Belt and Road' initiative. Meanwhile, 13 departments plan to extend 5G and gigabit optical networks to border areas by the end of 2025, aiming to enhance connectivity and infrastructure.

In the first 11 months of 2023, China saw over 15 million new tax-related business entities, a 25.4% increase year-on-year. Over 400 million tons of grain were purchased, with stable autumn grain procurement. Domestic oil and gas production exceeded 390 million tons, marking a seven-year high. The National Health Commission reported a 5.3% increase in medical consultations and treatments.

By the end of 2023, China Southern Power Grid Energy expects the cumulative installed capacity of distributed photovoltaic projects to reach about 1,910MW, a 40% increase year-on-year. On January 8, the '200 Index of Wholesale Prices of Agricultural Products' rose 0.1 points from last Friday.

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.