Global Economic Highlights on April 23rd
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International Crude Price Trend and Exchange Rate of RMB to USD Trend
Domestic News
1. Ministry of Commerce: China's cross-border e-commerce import and export in the first quarter was 577.6 billion yuan, an increase of 9.6%
2. The Ninth Session of the Standing Committee of the 14th National People's Congress was held in Beijing from April 23 to 26
3. Shenzhen: The import and export in the first quarter was 1.02 trillion Yuan, breaking the trillion Yuan mark for the first time in the same period in ten years
4. GDP of Liaoning Province increased by 5.4% year-on-year in the first quarter
International News
1. Report: Israel's attack on Iran has a "limited" scale and does not target nuclear facilities
2. Japanese inflation cooled before the central bank meeting
3. The US media listed a large number of data! In 20 months, the "Inflation Reduction Act" has not achieved Biden's goal
4. Report: Argentina has officially applied to join NATO as a "global partner" country
Domestic News
1. Ministry of Commerce: China's cross-border e-commerce import and export in the first quarter was 577.6 billion yuan, an increase of 9.6%
According to the person in charge of the Department of E-commerce of the Ministry of Commerce, the pace of international cooperation in e-commerce accelerated in the first quarter. For the first time, the Ministry of Commerce organized Chinese e-commerce platforms to carry out roadshows in bilateral e-commerce partner countries, and connected with more than 60 small and medium-sized enterprises in Italy, further enriching the content of bilateral e-commerce cooperation. In the first quarter, China's cross-border e-commerce import and export was 577.6 billion yuan, an increase of 9.6%, and the import and export of e-commerce with Hungary, the United Arab Emirates, Cambodia and Brazil and other "Silk Road e-commerce" partner countries grew rapidly. The construction of Shanghai's "Silk Road E-commerce" Cooperation Pilot Zone has made a good start, and five pilot measures to connect with high-standard international economic and trade rules, including international data services, have been implemented first.
2. The Ninth Session of the Standing Committee of the 14th National People's Congress was held in Beijing from April 23 to 26
The Legislative Affairs Commission of the NPC Standing Committee held a news conference this morning, at which spokesman Yang Heqing briefed reporters on the legislative work and answered reporters' questions. According to the spokesman, the 23rd meeting of the chairmanship of the 14th NPC Standing Committee decided that the ninth meeting of the 14th NPC Standing Committee will be held in Beijing from 23 to 26 April. The chairmanship meeting suggested that the Ninth Session of the Standing Committee of the 14th National People's Congress (NPC) should continue to deliberate on the draft law on academic degrees and the draft law on customs duties; deliberate on the draft amendment to the National Defense Education Law submitted by the chairmanship meeting for deliberation; deliberate on the draft amendment to the Accounting Law, the draft amendment to the Statistics Law, the draft Energy Law, the draft Atomic Energy Law, the draft amendment to the Anti-Money Laundering Law, and the Agricultural Technology Promotion Law, and the draft decision on authorizing the State Council to temporarily adjust the application of the relevant provisions of the Food Safety Law in the Hainan Free Trade Port.
3. Shenzhen: The import and export in the first quarter was 1.02 trillion Yuan, breaking the trillion Yuan mark for the first time in the same period in ten years
According to the news released by Shenzhen, on April 18, the reporter learned from Shenzhen Customs that Shenzhen's import and export in the first quarter was 1.02 trillion yuan, breaking through the trillion yuan mark for the first time in the same period in 10 years, a year-on-year increase of 28.8%, accounting for 50% of the total import and export value of Guangdong Province in the same period. Among them, imports were 377.85 billion yuan, up by 29.9 percent, and exports were 642.44 billion yuan, up by 28.2 percent, ranking first among the foreign trade cities in the mainland.
4. GDP of Liaoning Province increased by 5.4% year-on-year in the first quarter
According to the WeChat official account of Liaoning Statistics, according to the results of unified accounting of regional GDP, in the first quarter, the GDP of Liaoning Province was 696.12 billion yuan, a year-on-year increase of 5.4% at constant prices. By industry, the added value of the primary industry was 32.44 billion yuan, up by 5.3 percent, the added value of the secondary industry was 264.12 billion yuan, up by 5.9 percent, and the added value of the tertiary industry was 399.57 billion yuan, up by 5.0 percent.
International News
1. Report: Israel's attack on Iran has a "limited" scale and does not target nuclear facilities
According to the latest CNN news quoted by the Times of Israel on the 19th, a senior U.S. official said that Israel has told the United States that its attack is not aimed at Iran's nuclear facilities. According to the Times of Israel, there are multiple facilities in and around Isfahan, Iran, linked to Iran's nuclear program. The Israeli media outlet quoted Fox News as saying that a military source said that the Israeli attack was "limited".
2. Japanese inflation cooled before the central bank meeting
USD/JPY traded in a narrow range near 154.60 points, with data showing that Japan's CPI rose slowly to 2.7% YoY in March and is expected to hold steady at 2.8%, core CPI (excluding fresh food) rose to 2.6% and is expected to slow to 2.7% from 2.8%, and core-core CPI (excluding fresh food and energy) rose 2.9% and is expected to fall to 3.0% from 3.2%. Next Thursday to Friday (April 25-26), the Bank of Japan will hold a new round of monetary policy meetings, which will be the first policy meeting of the new fiscal year.
3. The US media listed a large number of data! In 20 months, the "Inflation Reduction Act" has not achieved Biden's goal
Bloomberg gave a conclusion on the 17th: although the Biden administration supports the Inflation Reduction Act (IRA) passed in 2022 to promote the development of advanced energy manufacturing in the United States, 20 months later, China still expands its dominance in American clean technology. Last year, when U.S. developers were still waiting for guidance on how to claim tax incentives for hydrogen hubs and manufacturing plants, China was already one step ahead and extended its dominance in energy transition technologies, the report said. Unlike in the past, Bloomberg also came up with a lot of data to support it this time.
4. Report: Argentina has officially applied to join NATO as a "global partner" country
According to a report by the Associated Press on April 19, Argentina officially applied to join NATO as a "global partner" country on Thursday (18th). At the same time, the Argentine government is seeking to improve and strengthen relations with Western countries in order to attract investment. According to the report, the application was made during talks between NATO Deputy Secretary-General Mircea Gewana and visiting Argentine Defense Minister Luis Petri in Brussels. Gewana said he welcomed Argentina's application to become a NATO "global partner" country. Argentina said becoming a NATO "global partner" would give Argentina "access to advanced technology, security systems and training."
Domestic Macro Economy Index
