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.

China's GDP grew 5.3% year-on-year in Q1, with fixed asset investment increasing by 4.5% from January to March 2024. The National Bureau of Statistics emphasized the importance of technological transformation and the development of emerging industries. Meanwhile, the EU plans to investigate China's medical device procurement, and UBS strategists predict a possible Fed interest rate hike to 6.5% next year.

China continues to lead the world in nuclear power construction with 26 units under construction. Bilateral trade between China and Australia grew by 4.1% in 2023, with China remaining Australia's largest trading partner for 15 consecutive years.

The RMB exchange rate stabilized after short-term fluctuations, supported by improving economic conditions. In the first quarter, China's SME development index rose by 0.2 points, indicating a rebound in production and business operations. Meanwhile, global wafer foundry revenue increased by about 10% quarter-on-quarter in Q4 2023.

China's CPI year-on-year growth narrowed to 0.1% in March, while the PPI decline expanded to 2.8%. The Asian Development Bank (ADB) forecasts strong economic growth for the Asia-Pacific region, with a projected 4.9% growth rate in 2024. Small and medium-sized banks in China have also reduced interest rates on time deposits.

China's Ministry of Finance sets a moderate and reasonable deficit rate of 3% for 2024. Vehicle exports in March reached 502,000 units, marking a 37.9% year-over-year increase, driven by robust market activity and economic improvements.

The RMB exchange rate against the US dollar has stabilized and rebounded after short-term fluctuations. In the first quarter, China's SME development index rose by 0.2 points, reflecting ongoing economic recovery and policy effectiveness.

China's State Administration of Financial Supervision and Administration held a unified listing ceremony, strengthening the county-level financial regulatory system. The National Energy Administration emphasized the importance of building a robust energy production, supply, storage, and marketing system. Small and medium-sized banks announced reductions in deposit interest rates, and despite high base points, March exports are expected to remain resilient.

The National Energy Administration plans to accelerate the development of clean energy, focusing on wind power and distributed photovoltaics. Meanwhile, the EU and the US have announced a strengthened partnership in AI, aiming to ensure safety and utility while updating key AI terms.

China's economic prosperity is expected to rebound slightly in the second quarter, with GDP growth forecast at about 5.1%. The National Energy Administration is helping qualified incremental power distribution enterprises obtain legal business status, and the Ministry of Industry and Information Technology reports a 7.6% year-on-year increase in business income for China's Internet enterprises above the designated size. Additionally, the National Data Administration plans to launch a pilot project for data labeling bases to promote AI industry development.

China's economic prosperity is expected to rebound slightly in the second quarter, with GDP growth forecast at about 5.1%. South Korea's foreign direct investment (FDI) increased by 25% year-on-year in Q1, hitting a record high. The pound hovers near a four-month low as markets bet on the Bank of England cutting interest rates before the Fed. The rupiah fell to a four-year low due to foreign capital outflow and a stronger dollar.

China's manufacturing PMI hit a 13-month high in March, driven by improved external demand. Zhejiang advances institutional opening in its free trade zones, and the 'East Channel' of the China-Europe Railway Express sets a new record in Q1. South Korea's chip exports surge, and the UK faces challenges in car exports to Canada due to expired trade rules.

CITIC Securities expects stable industrial enterprise profits in the short term. Shanghai's GDP reached 4.72 trillion yuan in 2023, ranking among the top cities globally. Beijing's industrial enterprises saw a 9.0% year-on-year increase in operating income. The State Information Center predicts the penetration rate of new energy vehicles will rise to 60% by 2033.

CITIC Securities expects stable growth in industrial enterprise profits, while Shanghai's GDP reached 4.72 trillion yuan in 2023, ranking among the world's top cities. Beijing's industrial enterprises saw a 9.0% year-on-year increase in operating income, and the State Information Center predicts a continued rise in new energy vehicle penetration.

From January to February, China's state-owned construction land supply increased by 4.8% year-on-year to 67,000 hectares. The largest coalbed methane field in China set a new record with daily gas production exceeding 7 million cubic meters. Beijing released 50 key tasks to promote high-quality development, focusing on scientific and technological innovation. Additionally, there were 451 new sea-using projects across the country, marking a significant increase.