November 20th Macroeconomic Index:China's economic outlook is optimistic, and global attention is focused on the Middle East peace process and environmental issues

Latest Global Major Index

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

Domestic News

1. National Development and Reform Commission: Looking forward to 2025, there are still many favorable conditions and supporting factors for China's economic development

2. China Semiconductor Association: The global semiconductor market is expected to reach $1 trillion in 2030

3. Ministry of Industry and Information Technology: A new batch of 400 high-level 5G factories has driven a total investment of more than 22 billion yuan

4. The West-East Gas Pipeline Network has transported more than 500 billion cubic meters of natural gas from Central Asia

5. During the year, the green-themed bond base continued to expand, and the number and scale of issuance reached a record high

 International News

1. The European Union announced an increase in sanctions against Iran, mainly targeting ships and ports used to transport drones, missiles, etc

2. The United Nations Security Council will vote on the latest draft resolution on the ceasefire in Gaza on the 19^th

3. The US presidential envoy arrives in Beirut, the capital of Lebanon, and will discuss the Lebanese-Israeli ceasefire issue with Lebanese officials

4. UN experts went to Okinawa to investigate the pollution problem of US military bases in Japan

5. The governor of the Philippine Central Bank said that it is still uncertain whether to cut interest rates in December, depending on the data performance

Domestic News

1. National Development and Reform Commission: Looking forward to 2025, there are still many favorable conditions and supporting factors for China's economic development

The National Development and Reform Commission held a press conference in November on the morning of November 19, and Li Chao, Deputy Director of the Policy Research Office of the National Development and Reform Commission and spokesman of the Commission, said that looking forward to 2025, there are still many favorable conditions and supporting factors for China's economic development. From the perspective of development momentum, further deepening reform and opening up in an all-round way will continue to stimulate the endogenous power and innovation vitality of the whole society; The innovation-driven development strategy is being implemented in depth, the real economy and the digital economy, advanced manufacturing and modern service industries are integrating and developing, and the cultivation of new quality productivity will form more new growth points, and continue to accelerate the transformation of new and old kinetic energy.

2. China Semiconductor Association: The global semiconductor market is expected to reach $1 trillion in 2030

Wang Ruoda, a senior expert at the China Semiconductor Industry Association, said at the 2024 China International Semiconductor Expo that in the past 35 years, the global semiconductor market has grown nearly 20 times, with an average annual growth rate of 9%. Wang Ruoda predicts that by 2030, the global semiconductor market is expected to grow to $1 trillion, with an average annual compound growth rate of 8%.

3. Ministry of Industry and Information Technology: A new batch of 400 high-level 5G factories has driven a total investment of more than 22 billion yuan

At the 2024 China 5G + Industrial Internet Conference, Wang Peng, a first-level inspector of the Information and Communication Administration of the Ministry of Industry and Information Technology, released the list of 5G factories in 2024 and selected 400 high-level 5G factories. Wang Peng said that through data calculation, the total investment driven by 400 5G factories exceeded 22 billion yuan, and the average investment of each factory increased by 180% year-on-year, indicating that the willingness, confidence and intensity of enterprises to invest in 5G factories have been further significantly enhanced. Wang Peng said that the new batch of 5G factories, compared with last year, showed three bright spots: first, the geographical distribution is more balanced; second, the industry is more widely used; Third, the integration of enterprises is more in-depth.

4. The West-East Gas Pipeline Network has transported more than 500 billion cubic meters of natural gas from Central Asia

According to the National Pipeline Network Group, as of November 19, the Khorgos compressor station, the first station of the second and third lines of the West-East Gas Pipeline, has transported a total of 502.1 billion cubic meters of natural gas from Central Asia. Khorgos compressor station is the first station for Central Asian natural gas to enter China, with the installed capacity of a single station ranking first in Asia, with a maximum daily gas transmission capacity of more than 160 million cubic meters, and Central Asian natural gas is transported to 27 provinces, autonomous regions and municipalities and the Hong Kong Special Administrative Region after entering the country through here, ensuring the gas consumption of more than 500 million residents.

5. During the year, the green-themed bond base continued to expand, and the number and scale of issuance reached a record high

Wind data shows that as of November 18, there were 14 green-themed bond funds in the market. Among them, there are 12 green bond funds in the strict sense (the performance comparison benchmark is the green bond index). In the past five years, the scale of green-themed bond issuance has been expanding year after year. This year, the number and scale of green-themed bond issuance have reached an all-time high.

International News

1. The European Union announced an increase in sanctions against Iran, mainly targeting ships and ports used to transport drones, missiles, etc

The European Commission issued a communiqué on November 18 saying that the European Union has decided to increase sanctions against Iran in view of Iran's military support for Russia and armed groups and entities in the Middle East and the Red Sea region. The new sanctions target vessels and ports used to transport Iranian-made drones, missiles, and related technology and components, including a ban on any transactions with ports and vessels owned, operated, or controlled by sanctioned individuals and entities. Iranian Foreign Ministry spokesman Bagae responded on the 18th that the EU should not make this wrong decision, and Iran will take countermeasures against it.

2. The United Nations Security Council will vote on the latest draft resolution on the ceasefire in Gaza on the 19th

The UN Security Council voted on a draft resolution on a ceasefire in Gaza co-drafted by 10 non-permanent members on the afternoon of the 19th. It is understood that the draft still calls for an immediate and unconditional ceasefire and the release of the hostages. The importance of the United Nations Relief and Works Agency for Palestine Refugees in the Near East (UNRWA) was also stressed.

3. The US presidential envoy arrives in Beirut, the capital of Lebanon, and will discuss the Lebanese-Israeli ceasefire issue with Lebanese officials

It was learned from the Lebanese side that in the early morning of the 19th local time, the special envoy of the US president, Amos Hochstein, arrived in Beirut. Earlier, according to Lebanese MP Abiy Lamia, Lebanon has agreed to the proposals put forward by the United States and France aimed at achieving a ceasefire, and is waiting for Hochstein to arrive in Lebanon and meet with Prime Minister Mikati in Beirut with the speaker of parliament. After his trip to Lebanon, Hochstein will also travel to Israel to learn the final answer from the Israeli side.

4. UN experts went to Okinawa to investigate the pollution problem of US military bases in Japan

Japanese media reported on the 18th that the United Nations Special Rapporteur on toxic substances and human rights, Marcos Orellana, visited Okinawa Prefecture on the same day and would investigate the pollution of the surrounding environment by the US military base in Japan. A survey in Okinawa Prefecture last year showed that 30 of the 44 sites inspected in the vicinity of the US military base had excessive levels of perfluorinated and polyfluoroalkyl substances in river or spring water, and the US military base was most likely the source of pollution. Among them, the level of such substances in the water of a spring near the Kadena base is 36 times that of Japan's provisional national standard.

5. The governor of the Philippine Central Bank said that it is still uncertain whether to cut interest rates in December, depending on the data performance

The governor of the Philippine Central Bank Eli Remolona said on Tuesday that policymakers would consider both further rate cuts and a pause at their next meeting in December. It was the first time he had commented on monetary policy since Donald Trump won the U.S. presidential election. While a 25 basis point cut in the key interest rate is still possible next month, the Philippine Central Bank may also hold its ground, Remolona said. He added that the Philippine Central Bank could cut rates by a total of 100 basis points next year, at a pace of 25 basis points.

Domestic Macro Economy Index