【Key Focus】
•Li Qiang met with the China-Britain Business Council delegation to China
• Ministry of Foreign Affairs: The US side is making a mistake by further increasing tariffs on China
Over the past year, the public security organs have cracked 95,000 cases of various economic crimes
• Five departments: Carry out activities for new energy vehicles to go to the countryside in 2024
•Xinhua China (Yan'an) Apple Industry Development Index was officially released
【Domestic News】
•On the morning of May 15, Premier Li Qiang met with the China-Britain Business Council delegation led by the Chairman of the China-Britain Business Council, Mr Gu Peiqin, at the Great Hall of the People in Beijing. Li Qiang pointed out that the economies of China and the UK have strong complementary advantages and great potential for cooperation. China is ready to maintain close economic and trade exchanges with the UK, share development opportunities, expand cooperation in finance, new energy, biomedicine and digital economy, and carry out more third-party cooperation under the framework of the Belt and Road Initiative, so that mutual benefit and win-win results will always be the main theme of bilateral relations.
•In response to the recent U.S. tariffs on Chinese electric vehicles and chips, Foreign Ministry spokesman Wang Wenbin said at a regular press conference on the 15th that the U.S. further increase in tariffs on China is a mistake on top of a mistake, which will only make U.S. companies and consumers bear more losses.
•On May 15, in accordance with the unified deployment of the Ministry of Public Security, public security organs in various regions focused on the hot spots of public concern, highlighted local characteristics, and innovated publicity forms, and focused on the National Public Security Organs' Publicity Day for Combating and Preventing Economic Crimes. The reporter learned that since 2023, as of March this year, the public security organs have cracked a total of 95,000 cases of various economic crimes and recovered tens of billions of yuan in economic losses.
•According to the Ministry of Industry and Information Technology on May 15, the five departments issued a notice on carrying out new energy vehicles to the countryside in 2024. The notice pointed out that the selection of new energy vehicle models suitable for the rural market, good reputation, and reliable quality, and carry out centralized exhibitions, test rides and test drives and other activities to enrich the consumer experience and provide diversified choices. Organize charging and swapping services, financial services such as new energy vehicle underwriting, claims, and credit, as well as after-sales services such as maintenance, to go to the countryside to make up for the shortcomings of the supporting environment in rural areas. Implement support policies such as car trade-in, county-level charging and swapping facilities to make up for shortcomings, and direct "real money" discounts to consumers.
•According to the People's Bank of China on May 15, in order to deeply implement the decisions and deployments of the Party Central Committee and the State Council, and implement the Opinions of the General Office of the State Council on Further Optimizing Payment Services and Improving Payment Convenience, the People's Bank of China held promotion meetings in Fuzhou and Xiamen on May 13, 2024, to strengthen coordination and cooperation with various departments and industries, promote financial institutions in Fujian to increase their work, further improve the payment service level of the elderly, foreign personnel to China and other groups, and better meet the payment service needs of Taiwan compatriots and Taiwan enterprises.
•On the 15th, the China Securities Regulatory Commission released a summary of the enforcement situation in 2023, with fines of 6.389 billion yuan in 2023, a year-on-year increase of 140%; 32 companies were forcibly delisted, and 42 listed companies suspected of crimes were transferred to the public security organs.
• From 24 o'clock on the 15th, domestic gasoline and diesel will be reduced by 235 yuan and 225 yuan per ton respectively. The national average is 0.18 yuan per liter for No. 92 gasoline, 0.19 yuan per liter for No. 95 gasoline, and 0.19 yuan per liter for No. 0 diesel.
• Li Qiang, deputy director of the Consumer Goods Industry Department of the Ministry of Industry and Information Technology, said on May 15 that the management of the electric bicycle industry will be strengthened and the healthy development of the industry will be accelerated by improving mandatory national standards, strengthening industry standard management, and strengthening scientific and technological empowerment.
•At present, the national summer grain production situation is relatively good, and the preparations for the purchase of summer grain are basically ready, and the purchase volume is expected to increase year-on-year, and the warehouse capacity and capital preparations in various places are sufficient. Tang Cheng, deputy director of the Grain Reserve Department of the State Food and Material Reserves Administration, said at a press briefing on the 15th that according to the summary of data from various places, it is expected that about 70 million tons of grain will be purchased in the peak season this summer, a slight increase from last year, including about 63 million tons of wheat. It is estimated that the price of wheat is roughly 1.25 yuan to 1.35 yuan per catty, and the price of early indica rice is 1.3 yuan to 1.35 yuan, which is higher than the minimum purchase price level of 1.18 yuan per catty of wheat and 1.27 yuan of early indica rice.
•According to data released by the State Food and Material Reserves Administration on the 15th, as of April 30, various grain enterprises in the main producing areas had purchased more than 200 million tons of autumn grain, a new high since the reform of the corn procurement and storage system in 2016, of which the purchase of corn reached 135 million tons, an increase of 5.2 million tons year-on-year.
•In the first four months of this year, the country's land supply grew rapidly, and the number of projects approved by the State Council increased by 275.86% and 240.32% year-on-year.
•From May 15, the mainland will fully implement the visa-free entry policy for foreign tour groups by cruise, and foreign tour groups (2 or more) who come to China by cruise ship and are received by domestic travel agencies can enter the country without a visa and stay for no more than 15 days from all cruise ports along the coast of the mainland.
As of the end of the fourth quarter of 2023, the balance of trust assets was 23.92 trillion yuan, an increase of 5.65% month-on-month and a year-on-year increase of 13.17%, and since the second quarter of 2022, the scale of trust assets has begun to stabilize and rebound, and the year-on-year growth rate has reversed to positive, and by the end of 2023, it has maintained positive growth for seven consecutive quarters, and the growth rate has gradually accelerated.
•On May 15, multiple departments in Shanghai jointly launched a special operation to crack down on illegal securities and futures activities online. The special action will urge key website platforms such as Oriental Wealth Network and Great Wisdom in Shanghai to carry out comprehensive self-inspections, and focus on deleting and blocking information, links and software products of illegal activities such as "illegal recommendation of stocks, funds, and futures", "black mouths in the stock market", and "over-the-counter capital allocation".
•Xinhua China (Yan'an) Apple Industry Development Index was officially released in Beijing on the 15th. The results of the index show that from 2019 to 2023, the Xinhua China (Yan'an) Apple Industry Development Index has increased steadily, reflecting the continuous improvement of the quality, efficiency and comprehensive strength of the whole industry chain of Yan'an's apple industry.
•Dalian Commodity Exchange will continue to promote the "Farmers' Income Guarantee Plan" with "Insurance + Futures" as the core model this year. In the 2024 agricultural insurance plan, DCE has set up a biological breeding demonstration project, a special project for "bank term insurance" seed harvesting and a special project for pig breeding.
【International News】
• The U.S. non-seasonally adjusted CPI recorded an annual rate of 3.4% in April, down from 3.5% in the previous month, in line with market expectations. The core CPI fell to 0.3% m/m in April as expected, the lowest since December 2023. After the release of the data, the dollar index fell nearly 40 points in the short term. The weaker-than-expected rise in US CPI in April indicated that inflation had resumed its downward trend at the beginning of the second quarter, boosting financial market expectations for a rate cut in September. The core CPI monthly rate cooled for the first time in six months, suggesting that price pressures are gradually waning and supporting the Fed's intention to keep interest rates higher for longer.
• Private exporters reported export sales of 180,000 mt of soybeans to unknown destinations, including 120,000 mt for 2023/2024 delivery and 60,000 mt for 2024/2025 delivery, according to data released by the U.S. Department of Agriculture (USDA).
•The European Commission released its spring 2024 economic outlook report on the 15th, saying that after economic stagnation in 2023, the EU economy grew better than expected in early 2024, and inflation continued to decline, laying the foundation for the gradual expansion of economic activity. The report expects the EU economy to grow by 1.0% and 1.6% in 2024 and 2025, respectively, and the eurozone economy by 0.8% and 1.4%, respectively. EU inflation will fall to 2.7% in 2024 from 6.4% in 2023 and further to 2.2% in 2025, with inflation in the eurozone falling to 2.5% this year and 2.1% next year.
• According to the latest financial market risk assessment report released on the website of the Central Bank of Russia on the 15th, in April this year, the proportion of RMB in the structure of Russia's foreign exchange market hit a record high, reaching 53.4%.
【List of domestic and overseas markets】
【Announcement of Listed Companies】
【Economic Data and Dynamics (Beijing Time)】
Editor: Wu Zhengsi
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