April 7 Macroeconomic index:From domestic financial regulation to international economic fluctuations

Latest Global Major Index

International Crude Price Trend & Exchange Rate of RMB to USD Trend

Domestic News

1. State Administration of Financial Supervision and Administration: Insurance institutions should prudently carry out major equity investments, strengthen the overall management of equity investment, and prevent disorderly expansion

2. The State Administration for Market Regulation held a symposium on the supervision of online transactions

3. The State Administration of Financial Regulation, the People's Bank of China and the China Securities Regulatory Commission jointly issued the Opinions on Promoting the High-quality Development of Financial Dispute Mediation

4. The 1.2 million sets of battery packs rolled off the assembly line of SVOLT More than 280,000 sets of off-road batteries have been rolled off the assembly line

5. Focuslight: Obtained the designation of two vehicle projection lighting projects from a well-known European automotive Tier1 customer

 International News

1. UK services orders rose, but concerns about tariff and payroll tax hikes intensified

2. The commander of the U.S. Central Command discussed regional security issues with senior Israeli military officials

3. Caught in the center of the U.S. tariff storm, Vietnam's stocks and foreign exchange are affected

4. There is moderate expansion of the eurozone service sector, and Germany's fiscal spending plan is expected to boost the economy

5. The Ministry of Finance issued the first RMB green sovereign bond in London, UK

Domestic News

1. State Administration of Financial Supervision and Administration: Insurance institutions should prudently carry out major equity investments, strengthen the overall management of equity investment, and prevent disorderly expansion

The State Administration of Financial Supervision and Administration issued a notice on matters related to major equity investments in unlisted enterprises with insurance funds. The notice mentions that insurance institutions should clarify their development strategies and market positioning, improve their investment management capabilities, prudently carry out major equity investments in accordance with national policies and regulatory requirements, strengthen the overall management of equity investments, and prevent disorderly expansion. Insurance institutions carrying out major equity investments shall meet the qualifications stipulated in the Interim Measures for Equity Investment by Insurance Funds and the Notice on Issues Concerning Investment in Equity and Real Estate by Insurance Funds. Insurance institutions shall use all their own funds to carry out major equity investments.

2. The State Administration for Market Regulation held a symposium on the supervision of online transactions

From April 2nd to 3rd, the National Symposium on the Supervision of Online Transactions was held in Xuchang City, Henan Province. The meeting emphasized that to do a good job in the supervision of online transactions in 2025, we should be guided by Xi Jinping Thought on Socialism with Chinese Characteristics in the New Era, adhere to the general idea of "stressing politics, strengthening supervision, promoting development, and ensuring safety", handle the relationship between efficiency and fairness, vitality and order, development and security, and thoroughly implement policies and measures to promote the development of the platform economy. Efforts will be made to improve the level of normalized supervision of online transactions, continue to optimize the order of online transactions and the online consumption environment, promote the standardized operation of platform enterprises, orderly competition, improve quality, and promote the healthy development of the platform economy.

3. The State Administration of Financial Regulation, the People's Bank of China and the China Securities Regulatory Commission jointly issued the Opinions on Promoting the High-quality Development of Financial Dispute Mediation

The "Opinions" pointed out that in three years, we will consolidate the foundation of various work of financial dispute mediation, expand the function of financial dispute mediation, improve the overall efficiency of financial dispute mediation, and basically realize the work pattern of complete and refined financial dispute mediation system, standardized and professional financial dispute mediation organization, smooth and efficient financial dispute mediation channels, active and full participation of all parties in financial dispute mediation, and significant improvement of people's satisfaction and sense of gain.

4. The 1.2 million sets of battery packs rolled off the assembly line of SVOLT More than 280,000 sets of off-road batteries have been rolled off the assembly line

The reporter learned that SVOLT successfully rolled off the 1.2 million sets of battery packs at the Suining base on March 31, of which more than 280,000 sets of off-road batteries were rolled off the assembly line. After reaching the milestone of one million sets on January 8 this year, SVOLT completed the production capacity leap of 200,000 sets in less than three months, realizing the accelerated release of production capacity. At present, the SVOLT off-road battery has been successfully equipped with Tank 400 and other models.

5. Focuslight: Obtained the designation of two vehicle projection lighting projects from a well-known European automotive Tier1 customer

Focuslight announced that the company recently obtained a fixed-point letter from a well-known European automotive Tier1 customer for two microlens array projects for automotive projection lighting, and the estimated mass production time is 2026 and 2027 respectively. The total demand for the two fixed-point projects is expected to exceed 3.3 million units in the whole life cycle. Although the project is in the development verification stage, it is not expected to have a significant impact on the company's operating results in 2025, but it will make a positive contribution to the company's medium- to long-term results.

International News

1. UK services orders rose, but concerns about tariff and payroll tax hikes intensified

The final UK services PMI for March showed that the UK's dominant services sector saw an increase in activity and new orders last month, but concerns about higher employment costs, US tariffs and a weaker economic outlook weighed on the outlook. S&P Global said the uptick in business activity was largely "attributable to improved order numbers." New export orders rose for the first time in four months, growing at the fastest pace since October 2024, mainly due to a rebound in European demand, although some respondents saw weak demand in the United States. But Tim, head of economics at S&P Global Market Intelligence, said businesses were concerned about the impact of rising wages and Trump's tariff agenda. Service providers reported a range of factors restraining growth, including tight household budgets, risk-aversion to corporate customers, and rising geopolitical uncertainty. Service companies are also cautious about the near-term outlook, with optimism remaining at its lowest level in the past two years.

2. The commander of the U.S. Central Command discussed regional security issues with senior Israeli military officials

On April 3, local time, the Israel Defense Forces issued a statement saying that on the 1st, the commander of the US Central Command, Kurilla, arrived in Israel and held a joint meeting with the chief of the Israeli army's general staff, Zamir, and senior Israeli officials to discuss regional security issues.

3. Caught in the center of the U.S. tariff storm, Vietnam's stocks and foreign exchange are affected

Vietnam's benchmark stock index fell as much as 6.7% at one point on track for its biggest one-day drop since January 2021, with the dong briefly hitting an all-time low of 25,814 against the dollar after Trump imposed high reciprocal tariffs of 46% on the country. "If tariffs on Asian countries continue, we expect a significant negative blow to economic growth, which will further increase the bias towards monetary easing and pressure on foreign exchange depreciation," Citi analysts said. Chris Kushlis, chief emerging markets macro strategist at T. Rowe Price, said, "While open to negotiations, it remains to be seen what Asian countries can do to significantly reduce the tariffs they face." Measures such as tariff retaliation and currency depreciation could trigger an additional U.S. tariff response, creating further complications for regional policymakers.

4. There is moderate expansion of the eurozone service sector, and Germany's fiscal spending plan is expected to boost the economy

Cyrus de la Rubia, chief economist at Commerzbank Hamburg, commented on the Eurozone PMI data: the index is once again hovering above the expansion threshold of just over 50 points. New business even saw a slight decline for the second month in a row, and the backlog of orders continued its downward trend. In Germany, we may soon see some indirect boost in the services sector due to increased spending on infrastructure and defense. But for the eurozone as a whole, the services sector is likely to face tougher times. Rising real wages could help stimulate private consumption, especially for service providers. Germany's fiscal spending plan is designed to support the defense and construction sectors, but it may also indirectly benefit the services sector, significantly reducing the risk of a recession across the eurozone.

5. The Ministry of Finance issued the first RMB green sovereign bond in London, UK

On April 2, London time, the Ministry of Finance of the People's Republic of China, on behalf of the central government, successfully issued a 6 billion yuan green sovereign bond in London, England. Among them, the 3-year maturity is 3 billion yuan, and the issue interest rate is 1.88%; The 5-year maturity of RMB 3 billion and the issue interest rate of 1.93% are lower than the interest rate of the same maturity treasury bonds in the Hong Kong secondary market. International investors have subscribed enthusiastically, with a wide range of investor types and geographical distribution. The total subscription amount was 41.58 billion yuan, which was 6.9 times the issuance amount. Among them, Asia-Pacific and non-Asia-Pacific investors accounted for 83.5% and 16.5% respectively; Sovereign and super-sovereign, banking, insurance and asset management investors accounted for 30%, 48% and 20% respectively; Green and sustainable investors accounted for 22%. The bonds are deposited under the Central Moneymarkets Unit (CMU) of the Hong Kong Monetary Authority and will be listed on the Hong Kong Stock Exchange and the London Stock Exchange. (CCTV News)

Domestic Macro Economy Index