January 22nd Macroeconomic Index: Xinjiang Khorgos Port Sets New Record in Freight Volume, China's Express Delivery Business Continues to Lead Globally

   Daily Macro Economy News

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

Domestic News

1. The import and export freight volume of Xinjiang Khorgos Port in 2023 witnesses 41.784 million tons, a record high

2. Guangdong: Support Nansha in expanding the opening up of the financial industry to the outside world and promote the interconnection of financial markets in Guangdong, Hong Kong and Macao

3. Shanghai Aviation Exchange: The impact of tensions in the Red Sea region on the transportation market of the Persian Gulf route has gradually subsided, and the spot market booking price continues to fall

4. China's express delivery business volume in 2023 reached 132 billion pieces, ranking first in the world for ten consecutive years

International News

1. In 2023, the RMB trading volume of the Moscow Exchange exceeded that of the US dollar

2. Ukrainian energy companies push traders to double their gas storage in Ukraine

3. In November last year, China increased its holdings of U.S. bonds by $12.4 billion, after reducing its holdings for seven consecutive months

4. US media: Microsoft and OpenAI are facing antitrust investigations, but it is not clear which department is responsible

Domestic News

1. The import and export freight volume of Xinjiang Khorgos Port in 2023 witnesses 41.784 million tons, a record high

According to the latest statistics of Khorgos Customs, the import and export cargo volume of Xinjiang Khorgos Port in 2023 was 41.784 million tons, a year-on-year increase of 4.4%, a record high. Among them, the import freight volume was 34.529 million tons, and the export freight volume was 7.255 million tons.

2. Guangdong: Support Nansha in expanding the opening up of the financial industry to the outside world and promote the interconnection of financial markets in Guangdong, Hong Kong and Macao

Nansha Regulations on Deepening Comprehensive Cooperation Among Guangdong, Hong Kong and Macao Facing the World was promulgated. The "Regulations" mentioned that the Guangdong Provincial People's Government should strengthen overall coordination, strengthen resource guarantee and policy support, strengthen communication and consultation with Hong Kong and Macao, create a market-oriented, law-based and international first-class business environment, and promote the resolution of major problems in the construction and development of Nansha. Support Nansha in expanding the opening up of the financial sector, deepen financial cooperation with Hong Kong and Macao, strengthen the development of  cross-border wealth management and asset management center among the Guangzhou Futures Exchange, the Futures Industrial Park and the Guangdong-Hong Kong-Macao Greater Bay Area (Guangzhou Nansha), and promote the interconnection of the financial markets of Guangdong, Hong Kong and Macao.

3. Shanghai Aviation Exchange: The impact of tensions in the Red Sea region on the transportation market of the Persian Gulf route has gradually subsided, and the spot market booking price continues to fall

According to the official Weibo of the Shanghai Shipping Exchange, this week, the freight rate trend of different routes in China's export container transportation market diverged, and the composite index rose slightly. In the Persian Gulf route, the relationship between supply and demand weakened due to the lack of momentum for further growth in transportation demand. In addition, the impact of tensions in the Red Sea region on the shipping market has gradually receded, and spot market booking rates continue to fall. On January 19, the market freight rate (ocean freight and ocean freight surcharge) for exports from Shanghai port to the basic port of the Persian Gulf was US$1,982/TEU, down 10.9% from the previous period.

4. National China's express delivery business volume in 2023 reached 132 billion pieces, ranking first in the world for ten consecutive years

At the 7th Annual Meeting of the Freight Logistics Industry held today (20th), the relevant person in charge of the China Federation of Logistics and Purchasing said that logistics demand recovered steadily in 2023, China is still the world's largest logistics market, and the industrial status of modern logistics in the national economy continues to improve. He Liming, president of the China Federation of Logistics and Purchasing, said that China's logistics market would resume growth in 2023, and it is expected that the total amount of social logistics in 2023 would reach 350 trillion yuan. The annual express delivery business volume reached 132 billion pieces, ranking first in the world for ten consecutive years. The national railway completed the delivery of 3.91 billion tons of goods, a record high. The volume of civil aviation cargo and mail transportation was 7.35 million tons, basically recovering to the level of 2019.

International News

1. In 2023, the RMB trading volume of the Moscow Exchange exceeded that of the US dollar

According to Russian media reports, in 2023, the volume of transactions of the yuan on the Moscow Exchange surpassed that of the US dollar, accounting for about 42% of the total volume of foreign exchange transactions. Russia's "Kommersant" newspaper recently reported that the trading volume of RMB on the Moscow Exchange in 2023 reached 34.15 trillion rubles, more than double the previous year's trading volume of 10.25 trillion rubles. The volume of the dollar traded on the Moscow Exchange in 2023 was about 32.49 trillion rubles, which accounts for less than 40% of the total volume of transactions. In addition, the euro was traded in the third place with a volume of 14.6 trillion rubles, accounting for less than 18% of the total. In 2022, the combined share of the dollar and the euro on the Moscow Exchange was 87%.

2. Ukrainian energy companies push traders to double their gas storage in Ukraine

Oleksiy Chernyshov, CEO of Naftogaz, Ukraine's largest energy company, said the company is seeking to at least double the amount of gas it stores for international traders by next winter and boost its own production, despite regular Russian attacks on Ukraine's infrastructure. Ukraine has long been one of the key links in gas trade with Europe, and its storage capacity is larger than that of any other country on the European continent west of Russia. "We have prompted the main players to come back and store 2.5 billion cubic meters, which is a considerable number, and we will try to double it in the next winter," Chernyshov said. ”

3. In November last year, China increased its holdings of U.S. bonds by $12.4 billion, after reducing its holdings for seven consecutive months

On January 19, local time, data released by the U.S. Treasury Department showed that in November 2023, the holdings of Japan, China, and the United Kingdom, the top three overseas creditors of U.S. bonds, increased. According to the U.S. Treasury Department's November 2023 International Capital Flows Report (TIC), Japan increased its holdings of U.S. Treasury bonds by $29.3 billion in November 2023, bringing its holdings to $1,127.5 billion, making it the largest creditor in the United States.

4. US media: Microsoft and OpenAI are facing antitrust investigations, but it is not clear which department is responsible

According to Politico, the U.S. Department of Justice and the U.S. Federal Trade Commission (FTC) are in deep discussions about which agency could investigate OpenAI on antitrust grounds, including the ChatGPT creator's partnership with Microsoft (MSFT. O). A few months ago, the FTC began negotiations with the Justice Department to determine who would review the matter, according to three people familiar with the matter. But neither agency is prepared to relinquish jurisdiction, which needs to be resolved before the U.S. government intervenes in the partnership between the two companies, people familiar with the matter said. Over the past few years, Microsoft has poured billions of dollars into OpenAI. OpenAI is taking advantage of Microsoft's vast computing resources to develop its own technology, and Microsoft is integrating OpenAI's services into its core business, including the Bing search engine. Given the speed at which the technology is evolving, the agencies must reach a solution as soon as possible, some people familiar with the matter said.

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