January 20 Macroeconomic Index:China's economy is growing steadily, and there are frequent developments in the international political situation and the energy field.

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Domestic News

1. China's 2024 economic "report card" was released!

2. The Central Committee of the Communist Party of China and the State Council: Explore new models for the cultivation of innovative talents in areas of urgent strategic need and emerging fields

3. For the first time in China, the liquid oxygen kerosene rocket engine achieved "three tests a day"

4. The ultra-deep oil and gas production of Tarim Oilfield exceeded 20 million tons

5. According to the National Bureau of Statistics, the national real estate development investment was 10.03 trillion yuan in 2024, a year-on-year decrease of 10.6%.

 International News

1. The Jewish Power Party withdraws from Israel's ruling coalition or other Parties follow suit

2. Palestinian President Mahmoud Abbas met with Chinese Special Envoy for the Middle East, Zhai Jun

3. German Chancellor candidate Merz: If elected, 50 gas power plants will be built

4. Trump intends to make cryptocurrencies a "policy priority", considering suspending related lawsuits and building up national reserves

5. Hungarian Foreign Minister: Hungary imported 7.6 billion cubic meters of Russian natural gas in 2024, setting a new record

Domestic News

1. China's 2024 economic "report card" was released!

According to the preliminary calculations of National Bureau of Statistics, China's GDP was 134.91 trillion yuan in 2024, a year-on-year increase of 5%; Among them, it was increased by 5.4% year-on-year in the fourth quarter. In 2024, the added value of industrial enterprises above designated size increased by 5.8% over the previous year, ans the added value of the service industry increased by 5%, the total retail sales of consumer goods increased by 3.5%, and the investment in fixed assets increased by 3.2%. The surveyed unemployment rate in urban areas nationwide decreased by 0.1 percentage points over the previous year, and the per capita disposable income of residents increased by 5.1 percent in real terms.

2. The Central Committee of the Communist Party of China and the State Council: Explore new models for the cultivation of innovative talents in areas of urgent strategic need and emerging fields

The Central Committee of the Communist Party of China and the State Council issued the "Outline of the Plan for the Construction of a Strong Country in Education (2024-2035)". Among them, it is proposed to improve the mechanism for discovering and cultivating innovative talents. Efforts should be made to strengthen the cultivation of innovation ability, and implement the "Fertile Soil Plan" for the cultivation of scientific literacy for primary and secondary school students; Implement the "Bright Separation Program" for high school students with innovative potential. In areas of urgent strategic need and emerging fields, we will explore new models for the cultivation of national top-notch innovative talents. Deepen the construction of new engineering, new medicine, new agriculture and new liberal arts, strengthen the coordination of science and technology education and humanities education, promote the integration of science and engineering, the integration of industry and industry, the integration of medicine and industry, and the intersection of agriculture and industry, build and strengthen the National College of Outstanding Engineers, the National Innovation Platform for the Integration of Industry and Education, etc., and thoroughly implement the National Excellent Physician Talent Training Program. Build a first-class core curriculum, teaching materials, practical projects and teaching team.

3. For the first time in China, the liquid oxygen kerosene rocket engine achieved "three tests a day"

On January 19, China realized the "three tests in one day" of liquid oxygen and kerosene rocket engines for the first time in the Baolongyu test area of the 165 Institute of the Sixth Academy of Aerospace Science and Technology Group, marking the ability of China's new generation of carrier rocket main power engine to adapt to the test and verification of batch production and delivery, which will strongly support the high-density launch of Long March series rockets in the future.

4. The ultra-deep oil and gas production of Tarim Oilfield exceeded 20 million tons

The reporter learned from PetroChina on the 19th that the oil and gas equivalent production equivalent of Tarim Oilfield, China's largest ultra-deep oil and gas production base, exceeded 20 million tons in 2024, reaching 20.47 million tons, a new high. The Tarim Basin is the largest oil-bearing basin in China, with abundant ultra-deep oil and gas reserves. As the main production area of deep-ground natural gas in China, the Bozi Dabei Gas Area of Tarim Oilfield has seen strong growth in natural gas production for five consecutive years.

5. According to the National Bureau of Statistics, the national real estate development investment was 10.03 trillion yuan in 2024, a year-on-year decrease of 10.6%.

According to the National Bureau of Statistics, in 2024, the national real estate development investment was 10.03 trillion yuan, a year-on-year decrease of 10.6%; Among them, residential investment was 7.6 trillion yuan, down 10.5%. The sales area of newly built commercial buildings decreased by 12.9% year-on-year, of which the sales area of residential buildings decreased by 14.1%; Sales fell by 17.1%, with residential sales down 17.6%.

International News

1. The Jewish Power Party withdraws from Israel's ruling coalition or other Parties follow suit

According to Israeli media reports on the 19th, Israeli Minister of National Security Itamar Ben-Gvir announced that the Jewish Power Party led by him withdrew from the coalition government led by Prime Minister Netanyahu. Ben-Gvir also called on Smotrich, another Israeli far-right official and leader of the Religious Zionist Party and Israeli Finance Minister, to join forces with him in opposing the "surrender agreement". At the end of 2022, Netanyahu was able to form a government and become prime minister again with the support of the far-right Jewish Power Party and the Religious Zionist Party. The leaders of the two parties, Ben-Gvir and Smotrich, were "entrusted with important tasks" by Netanyahu in the government. However, the two have repeatedly threatened to lead their respective parties out of the ruling coalition and bring down the government if they cease fire with Hamas.

2. Palestinian President Mahmoud Abbas met with Chinese Special Envoy for the Middle East, Zhai Jun

On January 18, 2025, Zhai Jun, the Special Envoy of the Chinese Government for the Middle East, visited Palestine. President Abbas met with Zhai Jun at the Presidential Palace in Ramallah, and the two sides exchanged views on China-Pakistan relations and the Gaza ceasefire and other issues of common concern. Zhai Jun said that China and Pakistan have a traditional friendship, mutual trust and support. Under the leadership of President Xi Jinping and President Abbas, China-Pakistan relations have developed by leaps and bounds in recent years. China welcomes the conclusion of the ceasefire agreement in Gaza and hopes that it will be effectively implemented and that a comprehensive and permanent ceasefire in Gaza will be achieved as soon as possible. No matter how the situation changes, China will, as always, firmly support the just cause of the Palestinian people in restoring their legitimate national rights, support Palestine in achieving national reconciliation and strengthening unity, support Palestine in becoming a full Member of the United Nations as soon as possible, and promote a comprehensive, just and lasting settlement of the Palestinian question on the basis of the two-State solution at an early date.

3. German Chancellor candidate Merz: If elected, 50 gas power plants will be built

Opposition leader Merz, who is expected to become Germany's next chancellor, has promised to build 50 gas-fired power plants if his CDU/CSU wins the February 23 elections, according to German media outlet T-online. "We need to build 50 gas-fired power plants in Germany as soon as possible, and these plants will be connected to the grid immediately," Merz said. Germany's gas-fired power generation jumped a record 79% in November from the previous month, as wind farms struck a much lower than normal for the second month in a row. "The Scholz government's closure of the last three nuclear power plants that guarantee reliable power generation in the midst of the energy crisis is a serious strategic mistake," Merz said. ”

4. Trump intends to make cryptocurrencies a "policy priority", considering suspending related lawsuits and building up national reserves

U.S. President-elect Donald Trump plans to issue an executive order elevating cryptocurrencies to a "policy priority," a strategic wording designed to guide government agencies in working with the industry, according to people familiar with the matter. Trump is also reported to plan to create a cryptocurrency advisory committee to advocate for the industry's policy priorities and give crypto industry insiders a voice in his administration. The Trump team is still debating whether to include a directive in the executive order that would require all government agencies to review policies regarding digital assets and possibly suspend any litigation involving cryptocurrencies, according to people familiar with the matter. It is reported that the Trump team is also considering the creation of a national bitcoin reserve, which will contain the government's current holdings. According to analytics firm Arkham, the U.S. government currently holds nearly $20 billion worth of bitcoin.

5. Hungarian Foreign Minister: Hungary imported 7.6 billion cubic meters of Russian natural gas in 2024, setting a new record

In 2024, Hungary received a record 7.6 billion cubic meters of gas from Russia through the Turkish Stream gas pipeline, said Hungarian Minister of Foreign Affairs and Foreign Economic Relations, Peter Szijjártó. "Last year, 7.6 billion cubic meters of gas arrived in Hungary via the Turkish Stream, which is an absolute record," Szijjártó said in a video address. In this way, we can guarantee that Hungary always has enough natural gas...... And to make sure that Hungary has one of the lowest gas prices. ”

Domestic Macro Economy Index