Domestic macro
The central bank conducted a 7-day reverse repurchase operation of 2 billion yuan today.
On April 18th, the central bank conducted a 7-day reverse repurchase operation of 2 billion yuan today, and the winning bid rate was 1.8%, which was the same as before. () iFinD data shows that there are 2 billion yuan of 7-day reverse repurchase due today, so zero delivery and zero return were realized on the same day.
The central bank responds whether the real interest rate is too high: different industries and enterprises feel differently, so as to prevent the involution competition from intensifying due to the low interest rate.
Zou Lan, director of the Monetary Policy Department of the People’s Bank of China, said that the situation of prices and real interest rates still needs to be comprehensively judged. The current low price is structural and phased. From the structural situation of prices, CPI, PPI, average interest rate of loans, etc. are all average concepts. There are differences in loan interest rates of different industries and enterprises, and the fluctuation range of product prices is different, so the real interest rate is different. The central bank will continue to closely observe the situation of economic recovery and economic transformation. It should not only keep the nominal interest rate at a reasonable level, consolidate the trend of economic recovery, but also fully consider the needs of high-quality development, avoid cutting the kinetic energy of structural adjustment, and prevent low interest rates from intensifying involution competition and idling funds, which will further reduce prices and form a bad cycle with each other. (Securities Times)
Central Bank: In the first quarter, medium and long-term real estate loans increased by 672.7 billion yuan, and the growth rate rebounded.
The State Council Office held a press conference on the financial operation and foreign exchange receipts and payments in the first quarter of 2024. Zhang Wenhong, head of the Survey and Statistics Department of the People’s Bank of China, said that new loans in the first quarter were mainly invested in key areas such as manufacturing, infrastructure and service industries, and the growth rate of loans in the real estate industry also picked up. Among them, the growth rate of medium and long-term loans in the real estate industry has increased. At the end of March, the medium and long-term loans in the real estate industry increased by 4.9%, 0.6 percentage points higher than the end of last year, and the cumulative increase in the first quarter was 672.7 billion yuan, which was higher than the same period of last year. (澎湃)
The central bank talks about M2 exceeding 300 trillion yuan: it is not appropriate to make simple comparison in the same period, and the monitoring of fund idling will be strengthened.
According to the Securities Times, Zou Lan, director of the Monetary Policy Department of the People’s Bank of China, said at the press conference of the State Council Office that the current broad money (M2) exceeds 300 trillion yuan, which is a reflection of financial support for the development of the real economy in the past years. Generally speaking, the current stock currency is indeed not low. At present, China’s economic restructuring is accelerating, the economy is lighter, the credit demand is weaker than before, and the credit structure is optimized and upgraded. However, all parties have a process of understanding and adapting to this change, and some banks still have "scale plots" in internal assessment, which exceeds the effective financing needs of the real economy; Some enterprises rely on their dominant position to buy wealth management or lend money to other enterprises with low-cost loans. The main business does not make money, but finance becomes the main business, which is easy to form idling and capital precipitation, reducing the efficiency of capital use. Relevant departments will strengthen the monitoring of fund idling and improve the management assessment mechanism. In the future, with the economic transformation and upgrading, the effective financing demand will be restored, the social expectation will be improved, and the phenomenon of fund precipitation idling will also be alleviated. At present, the huge monetary aggregate growth may slow down, and the data will be disturbed, so it is not appropriate to make a simple comparison in the same period.
Central Bank Zhu Hexin: The central bank’s goal and determination to maintain the basic stability of the RMB exchange rate will not change.
Zhu Hexin, deputy governor of the People’s Bank of China and director of the State Administration of Foreign Exchange, said that since the beginning of this year, the market has repeatedly expected the shift of the Fed’s monetary policy, the turmoil in the international financial market has intensified, and the exchange rate fluctuations of some currencies have increased. Although the exchange rate of RMB against the US dollar has also fluctuated, it has appreciated against a basket of currencies on a stable basis. In the short term, the economy made a good start in the first quarter, and the positive factors increased, which was conducive to hedging external disturbance factors and supported the RMB exchange rate. The RMB exchange rate remained basically stable on both macro and micro levels. In the next step, the central bank will focus on me, give consideration to internal and external balance, and adhere to a managed floating exchange rate system based on market supply and demand with reference to a basket of currencies; Pay close attention to the changes in the foreign exchange market, continue to make comprehensive policies and stabilize expectations, resolutely correct procyclical behaviors, resolutely guard against the risk of exchange rate overshoot, and keep the RMB exchange rate basically stable at a balanced level. (Securities Times)
Zhang Wenhong, the central bank: Although the scale of new social financing in the first quarter has declined year-on-year, it is still at a high level in history.
According to the Securities Times, on April 18th, Zhang Wenhong, head of the Survey and Statistics Department of the People’s Bank of China, said at the press conference of the State Council Office that the growth rate of social financing scale in the first quarter basically matched the expected targets of economic growth and price level, especially on the basis of last year’s high base, the growth rate of social financing of 8.7% was actually not low. Since the beginning of this year, the People’s Bank of China has paid more attention to guiding the balanced growth of financial institutions. Although the scale of new social financing in the first quarter has dropped year-on-year, it is still at a high level in history.
Central Bank: Promote the further marketization of deposit and loan interest rates, and stabilize the debt cost and net interest margin of banks.
The central bank issued a document in the People’s Daily, saying that the internal and external balance should be taken into account, and the prices of interest rates and exchange rates should be well coordinated. In terms of interest rates, it is necessary to improve the formation, regulation and transmission mechanism of market-oriented interest rates, promote the further marketization of deposit and loan interest rates, stabilize bank debt costs and net interest margins, and improve the sustainability of financial institutions supporting the real economy. On the exchange rate, we should insist that the RMB exchange rate is mainly determined by the market, and at the same time resolutely correct the procyclical behavior, prevent the risk of exchange rate overshoot, prevent the formation of unilateral consensus expectations and self-strengthen, and keep the RMB exchange rate level basically stable.
Ministry of Industry and Information Technology: Accelerate the layout of the industrial chain around innovation chain’s low-altitude economic development and accelerate the technical research and model innovation of low-altitude Zhilian.
Shan Zhongde, vice minister of the Ministry of Industry and Information Technology, said that we should make full use of enabling technologies such as the new generation of information and communication technologies, accelerate the technological research and model innovation of low-altitude Zhilian, and provide solid support for building a safe and efficient low-altitude operation system in the future. Accelerate the establishment of an industrial standard system that runs through the whole life cycle of R&D, design, manufacturing, test verification and operation support of low-altitude equipment, and jointly promote the construction of a third-party testing and certification system with relevant departments.
Ministry of Industry and Information Technology: Accelerate the research and development of 6G and 10 Gigabit optical networks and accelerate the research and development of big data and artificial intelligence.
According to China Net, Zhao Zhiguo, spokesperson and chief engineer of the Ministry of Industry and Information Technology, said that the Ministry of Industry and Information Technology will further consolidate and enhance the competitive advantage and leading position of the information and communication industry around the primary task of high-quality development. The first is to tamp the foundation. We still have to lay a solid foundation, accelerate the implementation of policies related to large-scale equipment renewal, and promote the optimization and upgrading of information infrastructure. Promote the coordinated development of computing infrastructure and accelerate the formation of a national integrated computing system. The second is to grasp innovation. We believe that innovation is fundamental, promoting the integration of 5G with big data, cloud computing, artificial intelligence and other technologies and accelerating the evolution of 5G. As we all know, 5G is now evolving to 5GA or 5.5G, accelerating the research and development of 6G and 10G optical networks. The third is strong application. Accelerate the development and application of big data and artificial intelligence, carry out the "artificial intelligence+"action, and continue to accelerate the large-scale application of industrial Internet. The fourth is excellent supervision. Accelerate the introduction of innovative information and communication industry management and optimize the business environment, continue to create a first-class business environment, and better serve the market players. The fifth is to ensure safety. Strengthen the construction of technical support capacity, improve the management level of network and data security in the industry, and promote the better innovation and development of the network and data security industry.
Ministry of Industry and Information Technology: Appropriately advance the layout of information infrastructure such as 5G, computing power and mobile Internet of Things.
According to China. com, Zhao Zhiguo, spokesperson of the Ministry of Industry and Information Technology, said that information infrastructure such as 5G, computing power and mobile Internet of Things should be laid out in advance, the construction of industrial Internet platform should be increased, the innovation and development of industrial Internet should be accelerated, and the intelligent manufacturing standard system should be improved. In particular, it is necessary to strengthen the evaluation work, with the goal of building a number of industrial Internet platforms with industry and regional influence by 2025. We are just promoting the large-scale industrial equipment renewal this year. We also seize this opportunity to systematically promote the exploration of intelligent manufacturing applications, scientific and technological research, infrastructure construction, etc., and vigorously promote the digital, networked and intelligent development of manufacturing, providing strong support for the construction of a manufacturing power.
Ministry of Industry and Information Technology: Promote the standardization and interconnection of public computing power and actively promote the construction of artificial intelligence computing architecture and software ecology
According to China. com, Shan Zhongde, Minister of the Ministry of Industry and Information Technology, said that in the next step, we will continue to make efforts to build a national integrated computing system from three aspects. First, coordinate computing resources and improve utilization efficiency. Optimize the layout of computing infrastructure, deepen the overall monitoring of computing infrastructure, and guide the coordinated development of computing power between the east and the west. Promote basic telecommunications enterprises to continuously improve the direct network of computing clusters to major cities, and enhance the access capacity of computing networks. Promote the standardization and interconnection of public computing power and improve the efficiency of computing power utilization. The second is to strengthen the guidance of intellectual calculation and optimize the calculation structure. Actively promote the construction of artificial intelligence computing architecture and software ecology, and accelerate the breakthrough of a number of landmark technology products and solutions. Encourage all parties to explore new modes of intelligent computing center construction and operation, including multi-party collaboration mechanism, to better use intelligent computing power. The third is to stimulate the demand for computing power and improve computing power services. Study and establish a public computing service supervision and management system, organize computing service scheduling and operation safety monitoring and evaluation, cultivate a group of competitive computing service enterprises, create a national unified computing service market, continuously optimize computing network products and services, reduce the computing cost of small and medium-sized enterprises, and improve the ease of use of computing power.
The National Bureau of Statistics released the unemployment rate data by age group in March.
The National Bureau of Statistics released the unemployment rate data by age group in March on April 18th. In March, the unemployment rate of the 25-29-year-old labor force excluding students in cities and towns nationwide was 7.2%, up 0.8 percentage points from the previous month (6.4% in February). In terms of other age groups, the unemployment rate of the 16-24-year-old labor force excluding students in cities and towns nationwide was 15.3%, which was the same as last month. The unemployment rate of the 30-59-year-old labor force excluding students in cities and towns nationwide was 4.1%, down 0.1 percentage point from last month.
Ministry of Foreign Affairs: Require the US to immediately stop its protectionist measures against China.
On April 18th, Foreign Ministry Spokesperson Lin Jian held a regular press conference. A reporter asked questions about the remarks made by US President Biden in his speech yesterday. As a matter of principle, Lin Jian said, we have always asked the US to earnestly respect the principle of fair competition, abide by WTO rules and immediately stop its protectionist measures against China. China will take all necessary measures to safeguard its legitimate rights. Regarding the remarks you mentioned, I would like to ask the US, are these remarks about China or the US itself? (CCTV News)
Foreign Ministry: China welcomes US Secretary of State Blinken’s recent visit to China.
On April 18th, Foreign Ministry Spokesperson Lin Jian held a regular press conference. Bloomberg reporter asked, it is reported that US Secretary of State Blinken will visit China. Can the spokesman confirm the time of Blinken’s visit to China and China’s expectation for the visit? "China welcomes Secretary of State Blinken’s recent visit to China. At present, I have no more information to provide. " Lin Jian said. (Beijing Daily)
Two departments: promoting digital textile construction and cultivating new quality productivity of textile industry
The Ministry of Industry and Information Technology and the Ministry of Commerce issued a notice on promoting the upgrading of textile and clothing in 2024. Among them, it is mentioned that promoting the construction of digital textiles and cultivating new quality productivity in the textile industry. Promote the renovation of old equipment, improve the digital level of enterprises, carry out the work of textile intelligent manufacturing into the park, and help enterprises upgrade intelligently. Promote the research and development of new materials, new technologies and new products, expand the application fields of end products, and consolidate and enhance the leading position of textile and garment industries. Organize advanced and applicable technology promotion, digital transformation, scientific and technological innovation, cost reduction and efficiency improvement, green development and other activities, strengthen exchanges and cooperation between enterprises and typical promotion, and form a demonstration and leading effect. Innovate textile and clothing consumption scenarios, develop new formats and new models such as live e-commerce, and realize () linkage.
Ministry of Industry and Information Technology: Guide information technology facilities such as data centers and communication base stations to expand the proportion of green energy utilization.
According to China. com, Tao Qing, spokesperson of the Ministry of Industry and Information Technology and director of the Operation Monitoring Coordination Bureau, said that in the next step, we will further implement the deployment arrangement of the National New Industrialization Promotion Conference on comprehensively promoting industrial green development, and forge a number of green manufacturing benchmarks with forging new advantages in industrial green competition as the main line, focusing on three aspects. First, accelerate the green and low-carbon transformation and upgrading of traditional industries. We will implement support policies such as large-scale equipment renewal and trade-in of consumer goods, guide enterprises, parks and key industries to fully implement a new round of green and low-carbon technology transformation and upgrading, accelerate the optimization and adjustment of product structure, energy consumption structure and raw material structure and process reengineering of traditional industries, and enhance industrial competitiveness. The second is to promote the development of green, low-carbon and high starting point of emerging industries. Guide information technology facilities such as data centers and communication base stations to expand the proportion of green energy utilization. For example, accelerate the comprehensive utilization of new solid wastes such as waste power batteries, photovoltaic modules and fan blades. Focus on the needs of energy revolution and industrial transformation under the goal of "double carbon", and plan and lay out future industries such as hydrogen energy, energy storage, bio-manufacturing, carbon capture, utilization and storage. The third is to cultivate a new format of green integration of manufacturing industry. We will vigorously promote the deep integration of digitalization and greening, promote the deep integration of modern service industry and green manufacturing industry, promote the deep integration of green consumption demand and green product supply, and foster new formats and new kinetic energy.
Ministry of Industry and Information Technology: Comprehensively strengthen the key core technology research of new information infrastructure construction system layout
According to China. com, Zhao Zhiguo, spokesperson of the Ministry of Industry and Information Technology, said that in the next step, regarding the development of the Internet, we will focus on the following three aspects: First, we will persist in innovation and foster the development of new quality productivity. We will comprehensively strengthen the construction of new information infrastructure, tackle key core technologies of system layout, and promote the research and development and application of cutting-edge technologies such as 6G, next-generation Internet and quantum communication. The second is to adhere to the integration of numbers and facts and accelerate the new industrialization. Promote the deep integration of artificial intelligence and manufacturing, further promote the large-scale application of "5G+ Industrial Internet", and accelerate the construction of a modern industrial system supported by advanced manufacturing. The third is to persist in reform and opening up and continuously optimize the business environment. Improve the policy system, promote the modernization of the industry supervision system and capacity, further promote the work of rectification, and continuously improve the quality of service. Further open the telecommunications market and stimulate the vitality of various market players.
Ministry of Industry and Information Technology: In the first quarter, 56.43 million 5G mobile phones were shipped, accounting for 83.7% of the mobile phone shipments in the same period.
According to China. com, the State Council held a press conference to introduce the development of industry and informatization in the first quarter of 2024. Zhao Zhiguo, spokesperson and chief engineer of the Ministry of Industry and Information Technology, said that in the first quarter, China’s telecom business revenue reached 443.7 billion yuan, up 4.5% year-on-year, and the overall growth remained steady, which laid a good start for the whole year. By the end of March, a total of 3.647 million 5G base stations had been built in China, and the penetration rate of 5G users exceeded 60%. There were 24.56 million ports with gigabit network service capacity, and the world’s first 400G all-optical inter-provincial backbone network link was officially commercialized. In addition, in the first quarter, China’s mobile phone shipments, especially 5G mobile phones, reached 56.43 million units, accounting for 83.7% of the mobile phone shipments in the same period.
Ministry of Industry and Information Technology: Accelerate the breakthrough of basic key technologies and products such as smart chips, large model algorithms and frameworks.
According to China. com, Tao Qing, spokesperson of the Ministry of Industry and Information Technology, said that we should accelerate the breakthrough of basic key technologies and products such as smart chips, large model algorithms and frameworks, accelerate the deployment of intelligent IOT terminals and industrial clouds, enhance the capacity of computing power supply and operation management for manufacturing, guide eco-enterprises to accelerate the creation of global competitive general large models, cultivate large industry models for manufacturing scenarios, build high-level industrial databases, and stimulate the value of industrial data elements.
The Ministry of Industry and Information Technology organized the sixth batch of "Little Giant" enterprises that specialize in specialty and novelty.
According to Gongxin Weibo, the Ministry of Industry and Information Technology recently issued a notice to organize the cultivation of the sixth batch of "little giant" enterprises specializing in specialty and novelty. Provincial specialized and innovative small and medium-sized enterprises can apply for the sixth batch of specialized and innovative "Little Giant" enterprises, and the competent departments of small and medium-sized enterprises in all provinces, autonomous regions, municipalities directly under the Central Government, cities with separate plans and Xinjiang Production and Construction Corps are responsible for organizing the initial nuclear recommendation of the sixth batch of specialized and innovative "Little Giant" enterprises. The Ministry of Industry and Information Technology will, in accordance with the requirements of the Interim Measures for the Administration of Gradient Cultivation of High-quality Small and Medium-sized Enterprises and the review process, organize the review of recommended enterprises in various places and conduct spot checks, and finally form and issue the sixth batch of "Little Giant" enterprises with specialization and novelty. The review of the third batch of "little giant" enterprises specializing in special innovation was started at the same time.
National Medical Insurance Bureau: Adjust the column of "Centralized Procurement of Drugs and Consumables Organized by the State" on the official website of the National Medical Insurance Bureau and set up two new sub-columns.
The National Medical Insurance Bureau announced that in order to strengthen the overall coordination of local centralized procurement of drugs and consumables, and better provide centralized procurement information services throughout the country for pharmaceutical enterprises, medical institutions and the public, the original column of "Centralized Procurement of Drugs and Consumables Organized by the State" in official website of the National Medical Insurance Bureau was renamed as "Centralized Procurement of Drugs and Consumables", and two sub-columns of "Inter-provincial Alliance Procurement" and "Provincial Centralized Procurement" were added.
home market
Comments on A-shares: The Shanghai Composite Index rallied and closed up by 0.09%, and the non-ferrous metals and low-altitude economic sectors strengthened.
On April 18th, the three A-share indexes were mixed today. At the close, the Shanghai Composite Index rose by 0.09%, the Shenzhen Component Index fell by 0.05%, the Growth Enterprise Market Index fell by 0.55%, and the Beizheng 50 Index fell by 0.01%. The turnover of Shanghai, Shenzhen and Beijing was 955.2 billion yuan, including 949.2 billion yuan in Shanghai and Shenzhen, which was 30.8 billion yuan more than the previous day. More than 3,000 stocks in the two cities floated green, and the northbound funds sold 5.285 billion yuan. In terms of plate theme, low-altitude economy, white goods and small metal plates were among the top gainers; Oil and gas exploration and services, precious metals and power sectors were among the top losers. On the disk, the low-altitude economic sector was among the top gainers, with (), Traffic Control Technology, (), (), (), () and other stocks trading daily. Metal plate strengthened, (), (), (), () and () daily limit, big financial plate surged back, and CITIC Bank and () daily limit burst. The power sector was among the top losers, with (), () and Shennandian A among the top losers. In addition, the word () fell, and the company’s announcement failed to reach an agreement with some counterparties on the acquisition of 70% equity of Sichuan Huaying Jin Woo Intelligent Technology Co., Ltd.
Comments on Hong Kong stocks: Hang Seng Index closed up 0.82% and Branch Index closed up 0.50%.
On April 18th, Hong Kong stocks closed, with the Hang Seng Index up 0.82% and the Shanghai Composite Index up 0.50%. Keep rose by over 12%, while Oriental Selection, China Ping An and Anta Sports rose by over 4%.
Huawei Pura70 series is on sale in official website, starting at 5499 yuan.
According to Huawei Mall official website, Huawei Pura 70 series is on sale, starting at 5499 yuan.
Suzhou: after obtaining eVTOL type certificate and production license, the maximum reward is 10 million yuan in stages.
According to the Shanghai Stock Exchange, on April 18th, Suzhou held a low-altitude economic development promotion conference. The reporter learned from the meeting that "Several Measures for Suzhou to Support High-quality Development of Low-altitude Economy (Trial)" has been issued recently. In terms of increasing the reward for airworthiness certification, the measures proposed that low-altitude economic enterprises with their headquarters or R&D, production and manufacturing bases in Suzhou will be given a one-time reward of up to 10 million yuan in stages after obtaining the type certificate and production licenses for manned electric vertical take-off and landing aircraft (eVTOL) and unmanned aerial vehicles issued by the Civil Aviation Administration of China. Each enterprise will be awarded no more than 30 million yuan each year, and the same model will only be awarded once.
Huawei Pura70 series is on sale today at a price of 5499.
According to Huawei terminal Weibo, Huawei launched the "HUAWEI Pura70 Series Pioneer Program" today. Pura70Ultra and Pura70Pro will be on sale at 10:08, with a price of 5499. On April 22nd, Huawei Pura70Pro+ and Huawei Pura70 went on sale.
Huawei Car BU actively contacted the outside world of the state-owned automobile group and speculated that the cooperation project of GAC was launched by GAC Chuanqi.
According to the interface news, on April 17 th, the photos of Huawei and GAC’s "secret meeting" were exposed. It is widely speculated that Guangzhou Automobile Company, Huawei’s cooperation project, landed in Guangzhou Automobile Chuanqi, and Guangzhou Automobile and Huawei are likely to reach a heavy cooperation, or the official announcement of the Beijing Auto Show, which will open next week.
Swift said that the proportion of RMB international payment climbed to a record high of 4.7% in March.
According to the interface news, the transaction data compiled by Swift shows that the share of RMB in international payment is increasing, while the share of Euro is declining. In March, the proportion of transactions involving RMB rose to 4.7%, the highest level since Swift established a new benchmark in July last year. Last month, the share of the euro fell below 22%, lower than the 24.4% when Swift introduced the new benchmark. According to Swift data, since November last year, the RMB has become the fourth largest trading currency in the world, surpassing the Japanese yen for the first time since 2022.
The brand-new Huawei MateBookXPro and other products were officially announced for sale, and Pura70 series was absent.
Huawei Terminal announced that the new Huawei MateBook X Pro, Huawei FreeBuds Lipstick 2 Lipstick Headphones, Huawei Smart Door Lock Plus and Huawei Wireless Mouse Star Flash Edition will be officially launched at 10:08 on April 18th. In the official announcement, Huawei did not mention the Pura 70 mobile phone series.
Is the employee involved in the "rat warehouse" being supervised and investigated? SDIC Securities: The conclusion of the on-site work of the regulatory agencies is not yet known.
According to The Paper, in response to the rumor that employees were involved in the "rat warehouse" being supervised and investigated, SDIC Securities responded to the reporter, "Recently, a regulatory agency has visited our company for on-site work. Our company has not yet mastered the specific work content and related conclusions, and there is no specific information that can be further provided." SDIC Securities said that the company attaches great importance to the protection of investors’ rights and interests and internal control management, strictly implements the requirements of various national laws and regulations and industry standards, actively cooperates with the relevant work of regulatory agencies, and strictly requires employees to abide by the management regulations of securities practitioners. Once violations of laws and regulations and damages to investors’ rights and interests are verified, they will not be tolerated, and they will be severely investigated and resolutely accountable.
The balance of securities lending dropped by 20% in one month, and the head broker revealed the new ideas of the two financing exhibition industries.
According to the Securities Daily, on April 18th, the implementation of the new T+1 regulation on securities lending has been completed for one month. Under the guidance of a series of recent policies, the market structure of margin financing and securities lending and the related business structure of securities firms have undergone corresponding adjustments and changes, and the balance of margin lending has dropped by 20%. It can be predicted that the development of the two financial services will become more and more standardized, and brokers are thinking deeply about the future development of their business, and some companies have formulated transformation strategies. Tian Lihui, dean of the Institute of Financial Development of Nankai University, said: "The decline in the balance of securities lending may affect the income of the two businesses of brokers, prompting brokers to optimize their existing business structure and seek other business growth points. In the future, it is expected that brokers will adjust the business structure of the two companies, focusing on services that match customer needs, such as providing more accurate and differentiated margin financing and securities lending programs; At the same time, the new regulations require brokers to take more prudent measures in risk management, prompting brokers to improve their risk management level and ensure the stable operation of their business.
Guangzhou launched the first low-altitude economic application demonstration island in China and started the infrastructure construction of flying cars.
According to the science and technology innovation board Daily reporter, the Panyu District People’s Government of Guangzhou signed the "Demonstration Framework Agreement for Promoting the Application of Flying Cars" with Tucki Huitian today, and jointly released the exploration list of the application scenarios of flying cars, announcing the start of the infrastructure construction of flying cars. The first batch of plans are to build four flying car landing points in the university town, supporting the infrastructure such as the landing, parking, energy replenishment and communication of flying cars, and carrying out "low altitude+commuting" and "low altitude+tourism" for the next step.
Tencent Conference released the first naked-eye 3D video conferencing solution in China.
Tencent Conference launched the first naked-eye 3D video conferencing solution in China, and made its debut in the prototype of video conferencing cabin developed in cooperation with eco-partners. According to reports, the technology is based on the light field acquisition and three-dimensional reconstruction technology jointly built by Tencent Conference and Shannon Lab, as well as the communication link at the bottom of Tencent Conference and the spatial audio technology of Teana Lab. The conference cabin can collect high-fidelity spatial audio and video for callers. (36Kr)
The dark side of the moon announced the release of Kimi upgrade: the network reply speed became faster, and the App supported voice input.
Dark Side of the Moon announced that the basic model of its Kimi intelligent assistant has been updated to version moonshot-v1-20240416, and Kimi has made more progress. The specific performance is as follows: in the networking mode, the first word return speed is improved, Kimi answers faster, and the waiting time is shorter; Logical reasoning ability has improved, among which Kimi’s mathematics and programming ability is stronger; The improvement of translation ability further improves the language accuracy in Chinese-English translation scenarios. In the web version, by clicking this small box button next to the dialog box, you can add your own common expressions, making your daily work easier and information calling easier. Users can randomly select the prompts we prepared for you, covering more than ten scenes such as PPT refinement, conference essentials, periodical review, small red book copy, short play script, career navigation, interview simulation, marketing planning and poetry creation. In addition, Kimi also supports voice input/broadcast functions, update to the latest version of the App, click on the small microphone in the lower left corner, and switch to voice input mode, so you can send voice to Kimi. In the web version, Kimi’s online search results also add a small digital footnote.
Zhaoyi innovation introduces GD32L235 series low-power MCU products.
() It was announced in Guanwei today that the GD32L235 series MCU was officially launched, which further enriched the selection and layout of low-power products. The new GD32L235 product series closely meets the demand of low-power market, and provides an ideal choice for industrial meters, smart door locks, portable devices, IoT, e-cigarettes, BMS and other application fields with better power efficiency, rich interface resources and higher cost performance. This series of MCU provides 16 models in 7 packages including LQFP64/48/32, QFN64/48/32 and WLCSP25, and has been officially mass-produced and supplied.
Personnel changes in the network of tourists: Dai Qi was appointed as the chief product officer and Wu Xi as the chief marketing officer, all of whom reported to CEO Chen Fang.
According to Cailian, the reporter learned from () today that the company has appointed Dai Qi as the Chief Product Officer (CPO) of Youzu, responsible for product planning and R&D project management of the self-developed system of Youzu; Wu Xi was appointed as the Chief Marketing Officer (CMO) of Youzu, responsible for the global distribution and user growth of the company’s products. Both of them report to CEO Chen Fang. It is understood that Dai Qi joined the Youzu in 2014, and has served as the chief planner of The Three Kingdoms of Teenagers, the producer of The Three Kingdoms of Teenagers 2, and the head of the juvenile studio. Wu Xi joined Youzu in 2017 and served as the head of channel business center, advertising center and global distribution platform.
Meituan announced that Wang Puzhong was the CEO of "Core Local Business".
According to 36Kr, following the announcement of business integration in February, on April 18th, Wang Xing, CEO of Meituan, released an internal email, announcing the progress of organizational iteration after integration. According to the content of the email, the previously integrated Meituan platform, the store-to-store business group, the home-to-home business group and the basic R&D platform will be merged into a "Core Local Commerce" section, and Wang Puzhong will be the CEO of the core local business. According to the email, Meituan will "no longer set up the store business group and the home business group, and the departments under the two business groups will be adjusted to directly belong to the’ core local business’".
Zhou Hongyi said that he would sell Maibakh for domestic intelligent networked cars.
At noon today, Zhou Hongyi, the founder and chairman of 360, updated his personal Weibo, saying, "I made a difficult decision. I want to sell Maibakh 600, which has been with me for 9 years." Later, he explained: "This is because I need to experience the feeling of a new generation of cars. The ancients said that they would’ cross the rubicon’, so I sold this car, gave up the luxury car in the traditional sense, and replaced it with a domestic new energy intelligent networked car. "
Zhou Hongyi fired at Li Yanhong: Some celebrities talk nonsense and don’t be fooled.
According to Sina Technology, on the morning of April 18th, in response to "Li Yanhong said that the open source model will be more and more backward", Zhou Hongyi replied in public, "I believe in the power of open source. Some celebrities on the Internet say that open source is better than closed source. Don’t be fooled by nonsense. Even the companies that said this have grown to this day with the help of open source power."
Recently, Li Yanhong, founder, chairman and CEO of Baidu, said at the Baidu AI Developers Conference that the model cut by dimensionality reduction is obviously better than the model directly adjusted by open source model under the same size; Under the same effect, the cost is obviously lower, "so the open source model will become more and more backward."
Zhou Hongyi retorted, "I have always believed in the power of open source. As for some celebrities on the Internet, don’t be fooled. He said that open source is better than closed source? Even the company that said this has grown to this day with the help of open source. "
Huawei Pura 70 sells stores with long queues in official website seconds.
According to the Securities Times, at 10: 08 a.m. on April 18th, Huawei officially announced that Huawei Pura 70 series was officially launched and joined Huawei’s "Pioneer Plan". In official website, it was put on the shelves at 10: 08, and in less than a minute, many models of Pura70 series appeared the words "temporarily not for sale" or "temporarily out of stock". At about 9: 40 am that day, the reporter saw in Huawei’s flagship store in a business district in Shenzhen that there was a long queue at the door of the store in advance.
International macro
1. The finance ministers of Japan, South Korea and the United States expressed serious concern about the recent sharp drop in the won and yen and agreed to hold close consultations in the foreign exchange market.
2. Shinji Kanda, deputy minister of Japan’s Ministry of Finance, said that G7 confirmed that excessive foreign exchange fluctuations have caused damage to the economy, indicating that G7 acquiesced in Japan’s intervention in the foreign exchange market.
3. The governor of the Hungarian central bank said that the central bank pays close attention to the exchange rate.
4. The Russian central bank will release daily OTC foreign exchange trading data.
5. Japanese Chief Cabinet Secretary Lin Fangzheng: Pay close attention to foreign exchange fluctuations and be ready to take comprehensive measures.
6. Bank of Korea Governor Lee Chang Yong: If necessary, we have the resources and tools to take action on foreign exchange.
7. Korean market regulator: Require financial institutions to ensure sufficient credit lines to cope with the deterioration of the foreign exchange money market.
8. new york Federal Reserve predicts that the Fed’s scale reduction may stop in 2025, and the balance sheet size may drop to 6 trillion US dollars.
9. Federal Reserve’s Beige Book: The US economy has expanded slightly, and the difficulty for enterprises to pass on costs has increased significantly; Salary pressure has eased, and people are cautiously optimistic about the economy.
10. Noguchi Xu, a member of the Bank of Japan who opposes the interest rate hike in March: The pace of interest rate hike will not be the same as that of other central banks, and it will gradually raise interest rates and adjust bond purchases. It is uncertain whether it will raise interest rates again this year.
11. Standard & Poor’s: It is expected that Japan’s interest rate will remain significantly lower than that of other major developed economies. Compared with American monetary policy, the influence of Bank of Japan’s policy on the yen may be limited.
12. ECB-Holcman: The biggest threat is geopolitics. It is not fully convinced that interest rates will be cut in June. The action of the European Central Bank before the Federal Reserve means that the effect of interest rate cuts is weakening. Centeno: The European Central Bank should start to cut interest rates soon.
international market
Major European stock indexes collectively opened higher.
Major European stock indexes rose collectively at the opening, with the Stoxx 50 index in the euro zone rising by 0.49%, DAX index in Germany rising by 0.22%, FTSE 100 index in Britain rising by 0.39% and CAC40 index in France rising by 0.38%.
Most of the major Asia-Pacific stock indexes closed up, while the Korean Composite Index rose by 1.95%.
On April 18th, most of the major Asia-Pacific stock indexes closed up, and the South Korean composite index rose by 1.95% to 2,634.7 points. In terms of individual stocks, POSCO and Samsung SDI rose by over 5%, Kakao rose by nearly 5%, Saierqun rose by nearly 4%, LG New Energy rose by over 3%, SK Hynix rose by over 2%, Hyundai Motor fell by over 1% and Kia Motor fell by nearly 1%. The Nikkei 225 index closed up 0.31% at 38,079.70 points, ending a three-day losing streak. In terms of individual stocks, Mitsubishi UFJ Finance rose nearly 2%, Kearns rose over 1%, Sony, Mitsubishi Corporation, Fast Retailing and Shinetsu Chemical Industry rose nearly 1%, Softbank Group fell nearly 2%, Tokyo Electronics fell over 1% and Hitachi fell nearly 1%. Australia’s S&P 200 index rose 0.48% to 7642.10, while New Zealand’s S&P 50 index fell 0.33% to 11836.04.
TSMC Q1 net profit of NT$ 225.5 billion was higher than market expectations.
TSMC’s net profit in the first quarter was NT$ 225.5 billion, up 8.9% year-on-year, and it is estimated to be NT$ 214.91 billion. The sales in the first quarter was 592.64 billion Taiwan dollars, up 17% year-on-year, and it is estimated to be 583.46 billion Taiwan dollars; The operating profit in the first quarter was NT$ 249.02 billion, up 7.7% year-on-year, and it is estimated to be NT$ 240.87 billion. The gross profit margin in the first quarter is 53.1%, and it is estimated to be 53%.
Tesla issued a warning notice that it will lay off 14% of its factory in Buffalo, New York, USA
According to Sina Finance, Tesla issued a warning notice that it will lay off 14% of its factory in Buffalo, New York, USA.
Microsoft’s huge investment in OpenAI is reported not to be investigated by the EU.
Microsoft’s $13 billion investment in OpenAI will avoid formal investigation by EU merger regulators, thus calming people’s concerns that the relationship between the two parties may be forced to break down. According to informed sources, the European Commission has decided that this cooperation is not worth a formal investigation because it is not an acquisition and Microsoft does not control the development direction of OpenAI. (Cailian)
Google is reported to have laid off employees and transferred some positions to other countries.
Google is laying off employees and reorganizing some teams. According to two on-the-job employees, several teams in Google’s finance and real estate departments have been affected, and it is unclear how many positions have been cut. An on-the-job employee said that these changes are "quite large" and some positions will be transferred abroad. A Google spokesperson confirmed the layoff plan, but declined to disclose the number of employees affected. (Cailian)
Musk said that the severance pay of some laid-off employees is too low and will be corrected.
According to the interface news, on the occasion of the largest layoffs in Tesla’s history, Musk said in a brief email to employees on Wednesday: "In the process of restructuring Tesla, I noticed that some severance payments were unreasonably low. I apologize for this mistake. We are correcting it immediately. "
Buffett’s Berkshire Hathaway Company raised 263.3 billion yen by issuing bonds.
Buffett’s Berkshire Hathaway priced multiple yen bond transactions, raising a total of 263.3 billion yen.
TSMC: The 2 nm process is expected to achieve mass production in 2025.
TSMC said that customers are very interested in N2(2 nm process technology) and it is expected to achieve mass production in 2025; N2 will enable us to seize the opportunity of artificial intelligence in the future.
It is reported that Oracle Bone Inscriptions will invest more than $8 billion in Japanese data centers within 10 years.
According to the Nikkei News quoted by Interface News, on April 18th, it was reported that Oracle Bone Inscriptions would invest more than 8 billion US dollars in Japan within 10 years to expand its data center in Japan.
TSMC expects sales of $19.6 billion to $20.4 billion in the second quarter.
TSMC expects sales of $19.6 billion to $20.4 billion in the second quarter; It is estimated that the operating profit rate in the second quarter will be 40% to 42%, and the market expectation is 41.3%; It is expected that higher electricity prices will increase other costs; Business will be stronger in the second half of the year than in the first half; The earthquake in Taiwan Province this month did affect some wafer production, and it is expected that most of the lost production capacity will be recovered in the second quarter.
It is reported that Samsung Group has implemented a six-day working week for senior executives.
On April 18th, it was reported that Samsung Group recently proposed that the executives of its major subsidiaries work six days a week, covering Samsung Electronics, Samsung SDI, Samsung SDS and Samsung Display. This move is interpreted by the industry as part of the implementation of emergency operations. It is reported that Samsung executives will have the opportunity to work on Saturday or Sunday. At the same time, it is expected that executives of financial subsidiaries such as Samsung Life will soon implement the six-day work system. According to the report, behind this move is the poor performance of Samsung’s semiconductor business last year. It is understood that Samsung Electronics has implemented the weekend work system among the senior executives in the development and support departments. (Interface)
Microsoft plans to accumulate 1.8 million artificial intelligence chips by the end of this year.
According to informed sources, Microsoft plans to accumulate 1.8 million artificial intelligence chips by December 2024.
futures
Domestic futures closed mixed, soda ash approached the daily limit.
On April 18th, domestic futures closed mixed, and soda ash approached the daily limit, with an increase of 9.18%. The container transport index (European line) rose by nearly 7%, glass, Shanghai tin and iron ore rose by more than 3%, Shanghai copper, international copper, stainless steel (SS), coking coal, Shanghai nickel, coke, caustic soda and ferrosilicon rose by more than 2%, low-sulfur fuel oil (LU) and SC crude oil fell by more than 3%, and p-xylene (PX), fuel oil, pulp and industrial.
National Bureau of Statistics: The output of soda ash in China increased by 17.4% in March.
According to the data of the National Bureau of Statistics, the output of soda ash (sodium carbonate) in China in March was 3.229 million tons, up 17.4% year-on-year; From January to March, the output of soda ash (sodium carbonate) was 9.403 million tons, up 18.7% year-on-year.
Biden will announce that the tariff on aluminum in Huagang will be more than tripled.
According to a number of foreign media reports on April 17th, US President Biden is expected to formally announce that he will triple the current aluminum tariff on Huagang in a speech to steel workers in Pittsburgh, which is known as the "steel capital" later that day. (Observer Network)
bond
The CSI convertible bond index closed up 0.23%
On April 18th, the CSI Convertible Bond Index closed up 0.23% to 39.194, with a turnover of 50.93 billion yuan. Zhengdan convertible bonds rose by more than 10%, profit convertible bonds rose by more than 7%, "Baichuan convertible bonds", Shangluo convertible bonds and Zhengyu convertible bonds rose by more than 6%; Hai Shun convertible bonds fell more than 6%, Haomei convertible bonds, radio and television convertible bonds fell more than 5%, and Naipu convertible bonds fell more than 4%.
Treasury futures closed up across the board.
Treasury futures closed up across the board, with 30-year main contracts up 0.75%, 10-year main contracts up 0.15%, 5-year main contracts up 0.16% and 2-year main contracts up 0.07%. In the news, Wang Chunying, deputy director of the State Administration of Foreign Exchange, said that he is studying and expanding more application scenarios, including using the bonds of the "bond pass" channel to offset the "swap pass" deposit.
The exchange bond market closed, and real estate bonds were mixed.
On April 18th, the exchange bond market closed, and the real estate bonds were mixed. H9 Jinke 03 rose by over 51%, H9 Longkong 01 by over 35%, 200,008 by over 3% and 220,004 by nearly 3%. H0 Baolong 04 fell by 16%, 19 Longhu 03 fell by over 9%, 22 Vanke 06 fell by nearly 4% and 22 Vanke 05 fell by 1.71%. In addition, "23 North Control K1" rose by over 6%, and "22 Tin Construction G1" rose by over 3%.
The Shanghai Interbank Offered Rate (Shibor) is mixed.
On April 18th, overnight shibor reported 1.7760%, up 5.30 basis points; In 7 days, shibor reported 1.8360%, up 2.00 basis points; Shibor reported 1.9650% in 14 days, up by 1.30 basis points; In January, shibor reported 1.9960%, down 0.40 basis points; In March, shibor reported 2.0410%, down 0.80 basis points.
WANG Chunying, SAFE: Since the beginning of this year, foreign investors have accumulated a net increase of over 40 billion US dollars in domestic bonds.
According to the Securities Times, on April 18th, Wang Chunying, deputy director and spokesperson of the State Administration of Foreign Exchange, said that in recent years, the scale of domestic bonds invested by overseas institutions has increased significantly, and this year, it has accumulated a net increase of 41.6 billion US dollars in domestic bonds. At the end of March, more than 1,100 overseas institutions from more than 70 countries and regions entered the domestic bond market, accounting for 2.6% of the domestic bond custody, up 0.2 percentage points from the end of last year. From the perspective of holders, overseas central banks and banking financial institutions have increased their holdings of domestic bonds in an orderly manner, and invested more in medium and long-term bonds such as government bonds and policy financial bonds. From October last year to March this year, the proportion of foreign investment in domestic bonds for more than one year was 56%. Looking into the future, foreign institutions’ investment in domestic bonds is expected to maintain a stable trend, and foreign investment in China’s bond market has a stable and sustainable room for improvement.
Central Bank: By the end of March, overseas institutions held 4 trillion yuan of interbank market bonds.
The central bank issued a briefing on overseas institutions’ investment in the inter-bank bond market in March. By the end of March 2024, overseas institutions held 4.00 trillion yuan of bonds in the interbank market, accounting for about 2.9% of the total custody of the interbank bond market. From the perspective of the types of bonds, the main type of bonds entrusted by overseas institutions is national debt, with a custody amount of 2.24 trillion yuan, accounting for 56.0%; Followed by policy financial bonds, the amount of custody was 0.84 trillion yuan, accounting for 21.0%. In March, two new overseas institutions entered the inter-bank bond market. By the end of March, a total of 1,129 overseas institutions had entered the market, of which 560 had entered the market through direct investment channels, 823 through the "bond link" channel, and 254 had entered the market through two channels at the same time.
The results of winning the bid for the sixth phase of local debt in Guizhou Province were released, involving three special refinancing bonds.
On April 18th, the results of winning the bid for the sixth phase of local bonds in Guizhou Province were released, and the bidding multiples were all over 29 times. Specifically, the winning bid rate of the 10-year "24 Guizhou Debt 11" is 2.4300%, with a full-court multiple of 34.53 and a marginal multiple of 1.86; The winning bid rate of the 10-year "24 Guizhou Debt 12" is 2.4300%, with a full-court multiple of 36.09 and a marginal multiple of 1.23; The winning bid rate of the 10-year "24 Guizhou Debt 13" is 2.4300%, with a full-court multiple of 35.58 and a marginal multiple of 1.04; The winning bid rate of the 15-year "24 Guizhou Debt 14" is 2.6300%, with a full-court multiple of 30.68 and a marginal multiple of 18.83; The winning bid rate of the 20-year "24 Guizhou Debt 15" is 2.6400%, with a full-court multiple of 29.29 and a marginal multiple of 31.11; The winning bid rate of the 30-year "24 Guizhou Debt 16" is 2.6700%, with a full-court multiple of 34.24 and a marginal multiple of 1.12.
State Administration of Foreign Exchange: We are studying the use of bonds through the "bond pass" channel to offset the "swap pass" deposit.
Wang Chunying, deputy director of the State Administration of Foreign Exchange, said at the press conference of the State Council Office on April 18th that the People’s Bank of China and the State Administration of Foreign Exchange will continue to follow the direction of marketization, rule of law and internationalization, steadily expand the opening up of China’s bond market, and make it more convenient for foreign investors to participate. We are working in the following aspects: First, we will open up the repurchase business for more overseas institutions and enrich the liquidity management tools for overseas investors. Second, continue to promote domestic RMB bonds to become widely accepted qualified collateral offshore. At the beginning of this year, bonds through the "Bond Connect" channel have been included in the list of eligible collateral for RMB liquidity arrangement of the Hong Kong Monetary Authority. At present, we are studying and expanding more application scenarios, including using the bonds of the "Bond Connect" channel to offset the deposit of the "Exchange Connect". The third is to optimize the operation mechanism of overseas institutions’ direct entry into the market, "bond connect" and "exchange connect", continuously strengthen exchanges and communication with overseas institutions, and create a better investment environment. Generally speaking, China has continuously improved the institutional opening level of financial markets, improved the investment environment and improved the optimized services, and there is a stable and sustainable room for foreign investment in China’s bond market. (China Network)
fund
On April 18th, iFinD data showed that among the 631 stock ETFs in the market, 274 rose that day.
Top gainers: rare metal ETF fund rose 2.6%, colored leading ETF rose 2.19%, bank ETF preferred rose 2.08%, home appliance ETF leader rose 2.02%, and Puyin MSCI China ETF rose 1.87%.
Top turnover: Shanghai and Shenzhen 300ETF were 3.319 billion yuan, Shanghai 50ETF were 2.919 billion yuan, CSI 500 ETFs were 1.852 billion yuan, CSI 1000ETF were 1.321 billion yuan and securities ETFs were 1.282 billion yuan.
foreign exchange
The onshore RMB against the US dollar closed at 7.2390 at 16:30 on April 18th.
The onshore RMB against the US dollar closed at 7.2390 at 16:30 on April 18th, down 41 points from the previous trading day.
