April 30 Macroeconomic index:China accelerates technological innovation and quality improvement, while international tariff disputes affect economic confidence

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Domestic News

1. During his visit to Shanghai, Xi Jinping emphasized the need to accelerate the construction of a highland of scientific and technological innovation with global influence

2. Ministry of Industry and Information Technology: Accelerate the application of quality technology innovation and improve the quality level of key products

3. Zhang Guoqing: Continuously improve the ability of independent innovation in the digital field and promote the integrated development of the real economy and the digital economy

4. China Energy Group: The average daily output of self-produced coal production equaled the highest record in a single quarter in history

5. Shanghai Headquarters of the People's Bank of China: Vigorously improve the level of informatization of the treasury, and actively promote the application of blockchain cross-border tax payment and digital RMB in the fields of finance, taxation and government affairs

 International News

1. ECB survey: Eurozone inflation expectations rise ahead of US tariffs

2. Peskov: Russia is willing to start negotiations without preconditions, but there is no response from the Ukrainian side

3. White House: Trump will sign an executive order to mitigate the impact of auto tariffs

4. Ukrainian Prime Minister: Russia's attack caused nearly 50% of Ukraine's natural gas production loss

5. Tariff concerns weigh on economic outlook, and U.S. consumer confidence plummeted to a near five-year low in April

Domestic News

1. During his visit to Shanghai, Xi Jinping emphasized the need to accelerate the construction of a highland of scientific and technological innovation with global influence

Xi Jinping, General Secretary of the CPC Central Committee, President of the People's Republic of China and Chairman of the Central Military Commission, stressed during his inspection in Shanghai on the 29th that Shanghai undertakes the historical mission of building an international science and technology innovation center, and must seize the opportunity to serve the national strategy as the traction, continuously enhance the function of scientific and technological innovation as a source of scientific and technological innovation and the leading function of high-end industries, and accelerate the construction of a scientific and technological innovation highland with global influence. Xi Jinping affirmed the practical results of Shanghai's active development of artificial intelligence. He pointed out that the accelerated iteration of artificial intelligence technology is ushering in explosive development, and Shanghai should summarize the successful experience of incubating the artificial intelligence industry with a large model industrial ecosystem, increase exploration efforts, and strive to be at the forefront of artificial intelligence development and governance in all aspects, and produce a demonstration effect.

2. Ministry of Industry and Information Technology: Accelerate the application of quality technology innovation and improve the quality level of key products

The General Office of the Ministry of Industry and Information Technology issued a notice on doing a good job in the quality of industry and information technology in 2025. It is mentioned that the quality and upgrading of key products will be promoted. Accelerate the innovation and application of quality technology. Strengthen the main position of enterprise innovation, encourage enterprises to increase investment in quality technology innovation, carry out key quality technology research, improve the quality control ability of the manufacturing process, and promote variety development and quality upgrading. Select and promote typical experiences in the application of quality technology innovation, and promote the transformation of quality technology innovation achievements into advanced standards and industrial application. Improve the quality level of key products. Implement policies and measures in the fields of new energy and intelligent networked vehicles, low-altitude equipment, etc., support the quality of high-end key components in the fields of instrumentation, agricultural machinery and equipment, aviation, etc., strengthen the development of relevant product quality standards, promote the transformation of advanced group standards into industry or national standards, and promote the improvement of product supply quality. Organize and carry out product quality inspections such as lithium batteries and photovoltaics, and strengthen the supervision and inspection of radio transmission equipment.

3. Zhang Guoqing: Continuously improve the ability of independent innovation in the digital field and promote the integrated development of the real economy and the digital economy

Zhang Guoqing, Member of the Political Bureau of the CPC Central Committee and Vice Premier of the State Council, attended the opening ceremony of the 8th Digital China Construction Summit in Fujian from 28 to 29 and delivered a speech. “It is necessary to deepen the innovation and application of digital technology, promote the deep integration of the real economy and the digital economy, and comprehensively empower high-quality economic and social development. ” He emphasized. Zhang Guoqing said that the construction of digital China is an important engine for promoting Chinese-style modernization and a strong support for building new competitive advantages for the country. At present, digital technology innovation has increasingly become an important driving force for high-quality development, and it is necessary to continuously improve the ability of independent innovation in the digital field, strengthen the research and application of key digital technologies, promote the construction of integrated computing power networks and data circulation and utilization infrastructure, and promote the development of new quality productive forces in the digital field. It is necessary to deepen the reform of the market-oriented allocation of data elements, establish and improve data circulation and trading mechanisms, cultivate a national integrated data market, and amplify the multiplier effect of data elements.

4. China Energy Group: The average daily output of self-produced coal production equaled the highest record in a single quarter in history

On April 29, Huang Qing, spokesman of the National Energy Group, said at the press conference held by the group in the first quarter of 2025 that in the first quarter, the national energy group actively responded to the changes in the energy market, actively followed the trend of rebalancing market supply and demand, overcame difficulties, worked hard, and promoted business development to achieve new results. Huang Qing introduced that the national energy group made every effort to promote power generation, sales, and integration and coordination, and better completed the task of ensuring supply during major activities and important periods. Self-produced coal production has maintained the level of 50 million tons for 42 consecutive months, the average daily output has tied the highest record in a single quarter in history, and the market share of coal launched in the North Port has maintained more than 40%. The power generation capacity was 296.4 billion kilowatt hours, and the average daily growth rate of new energy power generation increased by 21%, and the growth rate of photovoltaic power generation remained ahead. The transportation industry expanded non-coal logistics, and the non-coal transportation volume of railways, ports and shipping increased by 7.8%, 27.4% and 486.3% year-on-year respectively, hitting a record high in a single quarter.

5. Shanghai Headquarters of the People's Bank of China: Vigorously improve the level of informatization of the treasury, and actively promote the application of blockchain cross-border tax payment and digital RMB in the fields of finance, taxation and government affairs

According to the official website of the Shanghai headquarters of the central bank, recently, the Shanghai headquarters of the People's Bank of China held the 2025 Shanghai Treasury Work Conference. The meeting pointed out that in 2024, Shanghai's treasury system will adhere to the national treasury for the people and efficiently ensure the smooth implementation of government budgets at all levels; Adhere to the bottom line of safety, and continuously improve the efficiency of treasury supervision; strengthen system construction and vigorously improve the level of informatization of the treasury; Adhere to innovation-driven, actively promote the application of blockchain cross-border tax payment and digital RMB in the fields of finance, taxation and government affairs, and better play the positive role of the national treasury in ensuring local economic operation and serving social and people's livelihood.

International News

1. ECB survey: Eurozone inflation expectations rise ahead of US tariffs

Eurozone consumers raised their inflation expectations for the coming years in March before the United States imposed tariffs on most countries and launched a global trade war that could cripple economic growth, the European Central Bank survey showed on Tuesday. Inflation expectations for the next 12 months came in at 2.9%, up from 2.6% in the previous month's survey. Inflation expectations rose from 2.4% to 2.5% over the next three years. While such an uptick is usually alarming for the ECB, the data was collected before the US imposed tariffs, which had fundamentally changed the global economic outlook. The strengthening of the euro, falling energy prices, and the possible weakening of economic growth are all factors that threaten to reduce price growth. The ECB cut interest rates again in April due to the dramatic change in the outlook, warning of weak economic growth. Some policymakers even see the risk of the inflation target falling below 2% again.

2. Peskov: Russia is willing to start negotiations without preconditions, but there is no response from the Ukrainian side

On April 29, local time, Russian presidential press secretary Peskov said that Russian President Vladimir Putin has repeatedly stated that Russia is willing to start negotiations without preconditions, but so far there has been no response from Ukraine. Peskov said that the Ukrainian side has not yet responded to Putin's proposal for a ceasefire in May. Peskov pointed out that the primary concern at present is to promote the process of peace talks, and Russia is committed to pushing the conflict in Ukraine to the track of a peaceful settlement.

3. White House: Trump will sign an executive order to mitigate the impact of auto tariffs

Trump signed an executive order on Tuesday to mitigate the impact of tariffs on his cars, the White House said. Administration officials say the moves will reduce some tariffs on foreign components used in U.S.-made cars, while importers won't have to pay double tariffs on cars and the materials used to make them. The Trump administration has not officially announced measures to lower tariffs, but administration officials have confirmed that companies that pay tariffs on cars will no longer be subject to other tariffs such as aluminum and steel, and that tariffs already paid will be compensated.

4. Ukrainian Prime Minister: Russia's attack caused nearly 50% of Ukraine's natural gas production loss

On April 29, local time, Ukrainian Prime Minister Shmyhal said that during the heating season from October 2024 to March 2025, Russia launched a series of large-scale attacks on Ukraine's natural gas production infrastructure, resulting in a loss of nearly 50% of Ukraine's natural gas production. The Russian side has not responded to this statement at the moment. Shmyhal also said that Ukraine has made progress in terms of energy security. Ukraine signed an agreement with the European Bank for Reconstruction and Development (EBRD) that will attract 270 million euros, and the Norwegian government has provided a grant of 140 million euros. With these funds, Ukraine plans to purchase an additional 1 billion cubic meters of gas.

5. Tariff concerns weigh on economic outlook, and U.S. consumer confidence plummeted to a near five-year low in April

The Conference Board's consumer confidence index fell to a near five-year low in April, as growing concerns over tariffs weighed on the economic outlook. Conference Board data showed that consumer confidence fell 7.9 points to 86.0 in April, the lowest level since May 2020. Stephanie Guichard, senior economist at the Conference Board's Global Indicators, said: "Consumer confidence fell for the fifth consecutive month in April, falling to its lowest level since the start of the pandemic. "U.S. GDP data due tomorrow is expected to show a sharp slowdown in economic growth in the first quarter, as companies race to import goods to avoid rising costs from tariffs, leading to a surge in imports. Consumer spending is also likely to slow sharply, dragged down by stubbornly high inflation and concerns about the economic impact of tariffs, prompting some households to cut back on spending to save savings.

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