【Key Focus】
•The State Council Information Office held a press conference on the "systematic implementation of a package of incremental policies, solidly promoting the optimization of the upward structure of the economy and the continuous improvement of the development trend".
• The scale of mainland foreign reserves rose month-on-month for three consecutive months Gold reserves remained unchanged for five consecutive months
•During the National Day holiday, the passenger flow of key business districts in Beijing exceeded 45 million
• Global manufacturing PMI was 48.8% in September
•Some brokerages opened bank-securities transfer business in advance
【Domestic News】
•According to the website of the State Council Information Office, the Information Office of the State Council will hold a press conference at 10 a.m. on October 8 (Tuesday), inviting Zheng Shajie, Director of the National Development and Reform Commission, and Liu Sushe, Zhao Chenxin, Li Chunlin, and Zheng Bei, Deputy Directors of the National Development and Reform Commission, to introduce the relevant situation of "systematically implementing a package of incremental policies, solidly promoting the upward structure of the economy, and the continuous improvement of the development trend", and answer questions from reporters.
• According to the Ministry of Industry and Information Technology, from January to August this year, the total revenue of telecommunications services reached 1,173.2 billion yuan, a year-on-year increase of 2.7%. The total volume of telecommunications services calculated at constant prices in the previous year increased by 11.1% year-on-year, and the operation of the telecommunications industry was basically stable.
•Zhao Zhiguo, Chief Engineer of the Ministry of Industry and Information Technology, said at the 2024 China Computing Conference held in Zhengzhou recently that in the field of computing power, the total scale of computing power center racks in use in China exceeds 8.3 million standard racks, and the total scale of computing power reaches 246EFLOPS, ranking among the top in the world.
•The reporter recently learned from the Ministry of Human Resources and Social Security that the mainland's unemployment insurance continues to expand its coverage and continuously improve the level of protection. As of the end of September, 245 million people were covered by unemployment insurance. In the future, we will promote the wide coverage of unemployment insurance to professional workers, and improve the linkage mechanism between employment, unemployment insurance, and minimum livelihood security.
•According to a recent report released by the People's Bank of China, as of the end of August 2024, the People's Bank of China has signed bilateral local currency swap agreements with the central banks or monetary authorities of 42 countries and regions, of which 29 are valid, with a swap scale of more than 4.1 trillion yuan.
•Driven by the positive valuation effect of the "three rises" in global stocks and bonds, the scale of China's foreign exchange reserves increased month-on-month for the third consecutive month. According to data released by the State Administration of Foreign Exchange on October 7, as of the end of September, the mainland's foreign exchange reserves were US$3,316.4 billion, an increase of US$28.2 billion, or 0.86%, from the end of August. At the same time, the central bank's gold reserves remained unchanged for five consecutive months. As of the end of September, the central bank of China reported 72.8 million ounces of gold reserves, unchanged from the end of the previous month.
• According to the National Energy Administration, on October 4, the G20 Energy Transition Ministerial Meeting was held in Brazil. Brazil has "Building a Just World and a Sustainable Planet" as the G20 theme for 2024, and the Energy Transition Ministerial Meeting will focus on topics such as energy transition financing, the social impact of transition, and sustainable fuels.
•The National Data Bureau issued a statement late at night on October 6, saying that recently, the public reported that some criminals had published false information in the name of the bureau, and rumored that the National Data Bureau had issued a "certificate of ownership and confirmation of personal data assets". After investigation, such documents were forged, and the relevant information was not true, and the National Data Bureau had never issued the above-mentioned policy documents and had never issued relevant certificates.
• According to the China Federation of Logistics and Purchasing, the global manufacturing PMI in September 2024 was 48.8%, a slight decrease of 0.1 percentage points from the previous month, hovering around 49% for three consecutive months. In terms of sub-regions, the Asian manufacturing PMI ended its downward trend for two consecutive months, rose slightly from the previous month, and continued to remain above 50%.
•According to data recently released by the Asset Management Association of China, in August 2024, 119 new asset-backed special plans (ABS) were recorded, with a total of 112.996 billion yuan. Among them, 1 ABS invested by infrastructure public REITs was recorded, with 1.974 billion yuan.
•In the fourth quarter of 2024, the overall market sentiment has improved significantly, with the Hang Seng Index rising to a two-and-a-half-year high, rising by more than 5,600 points, or 33%, in the past 15 trading days, according to the Financial Secretary of the Hong Kong SAR Government, Paul Chan, who published a secretary's essay on the website of the Hong Kong SAR Government. The average daily turnover from September to Friday was about HK$192 billion, double the average daily turnover in August. The market capitalization of the Hong Kong stock market also rose to HK$39.4 trillion.
•The Hong Kong Stock Exchange announced on the 7th that the average daily turnover of Hong Kong stocks in September was HK$169.2 billion, an increase of 77% month-on-month and 87% year-on-year respectively, and the single-day turnover hit a record high of HK$505.9 billion on September 30. As of the end of September, the market capitalization of the Hong Kong stock market was HK$36.9 trillion, up 16% month-on-month and 15% year-on-year.
•On October 7, the reporter learned from the industry that the settlement department of some securities companies has issued a notice that in order to meet the transfer needs of customers on October 8, some depository banks have realized the early opening of bank-securities business time, and there are currently Bank of China, Agricultural Bank of China, Bank of Communications, China Merchants Bank, CITIC, Pudong Development, Minsheng, Everbright, Huaxia, and Bank of Ningbo have determined to open in advance until 08:05, and only ordinary depository in advance. Previously, the bank-securities transfer time generally started at 9 a.m.
•On October 7, the reporter learned that some brokerages opened the night market entrustment function early. Among them, Huatai Securities' night market entrustment function has been advanced from 20:00 to 16:30 on October 7, and this arrangement is currently only made on the same day, and whether it will be normalized in the future needs to be further notified.
• The Shanghai Municipal Commission of Commerce reported on the 7th that this year's National Day, driven by policies such as continuous efforts to trade in home appliances and the issuance of catering vouchers, Shanghai's consumer market is active. According to data from the Consumer Market Big Data Lab (Shanghai), during the holiday period (September 30 to October 6), Shanghai's online and offline consumption reached 67.6 billion yuan, a year-on-year increase of 3.2%.
•During the 2024 National Day holiday, Beijing will hold nearly 400 consumption promotion activities, and the consumer market will be stable and orderly. The sales volume of department stores, supermarkets, specialty stores, catering and e-commerce enterprises monitored by the Beijing Municipal Bureau of Commerce reached 7.06 billion yuan. Relevant data show that the passenger flow of the city's 60 key business districts was 45.73 million, a year-on-year increase of 19.7%.
• On October 7, the reporter learned from the Leyoujia Research Center that from September 30 to October 6, within a week of the release of the new policy on the Shenzhen property market, only the new housing transaction volume of Leyoujia Shenzhen store increased by 979% compared with the same period last year, of which, on October 1, the transaction volume of new houses in Shenzhen is expected to exceed 600 units, which is rare in the past three years.
•The 300 MW F-class heavy-duty gas turbine independently developed by Continental was successfully ignited for the first time in Shanghai Lingang on the 7th. The 300 MW F-class heavy-duty gas turbine is the largest power and highest-tech heavy-duty gas turbine independently developed by mainland China for the first time, and its technical indicators are basically the same as those of the international mainstream F-class heavy-duty gas turbine.
• According to Lighthouse Professional Edition, as of 21:12 on October 7, the box office of the 2024 National Day file (October 1-October 7) exceeded 2.1 billion yuan, and a total of nearly 52 million people walked into the cinema during the National Day file, with a total of more than 3.2 million shows.
【International News】
•Data released by the Federal Statistical Office of Germany on the 7th showed that due to the sharp decline in domestic new orders and other factors, after seasonal and working day adjustments, Germany's new industrial orders fell by 5.8% month-on-month in August.
• The United States Semiconductor Industry Association (SEMI) recently released data showing that global semiconductor sales reached US$53.1 billion (currently about 374.65 billion yuan) in August 2024, an increase of 20.6% compared with US$44 billion in August 2023 (currently about 310.444 billion yuan), and an increase of 3.5% from US$51.3 billion (currently about 361.95 billion yuan) in July 2024.
• According to a Reuters report on the 6th, Blume, chairman of the management board of Volkswagen Group of Germany, said in an interview with German media that the EU should consider adjusting the tariff plan on Chinese electric vehicles to allow Chinese companies to invest in Europe; Rather than imposing tariffs, it is better to give mutual trust to investment.
According to Nikkei, Hideki Sakakihara, former finance minister of Japan's Ministry of Finance, said: "The depreciation trend of the yen may continue in the short term. But I've always felt that the United States economy might weaken a little bit in the future, and the Japan economy might be (relatively speaking) quite strong. By 2025, it is not surprising that the yen will appreciate and the dollar will depreciate to around 130 yen per dollar. ”
【Economic Data and Dynamics (Beijing Time)】
Editor: Wang Zhe
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