April 21 Macroeconomic index:From the China-Indonesia "2+2" dialogue mechanism to international economic and security cooperation

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Domestic News

1. Wang Yi and Dong Jun will chair the first Ministerial meeting of the "2+2" dialogue mechanism between the Foreign Ministers and Defense Ministers of China and Indonesia

2. The spot of lithium carbonate is under pressure, and the upstream continues to accumulate inventory

3. Ministry of Agriculture and Rural Affairs: This year's grain output is aimed at 1.4 trillion jin

4. Beijing: GDP increased by 5.5% year-on-year in the first quarter

5. The Taiwan Affairs Office of the CPC Central Committee and the Taiwan Affairs Office of the State Council held a forum for representatives of Taiwan business people in Nanjing

 International News

1. British media: Trump does not want tariffs to continue to rise

2. Despite the collapse in oil prices, Abu Dhabi continues to undergo large-scale urban construction

3. The 38th Sino-Vietnamese joint naval patrol in the Beibu Gulf was successfully concluded

4. Indonesia plans to complete trade talks with the United States within 60 days

5. The Director General of the International Atomic Energy Agency (IAEA) visited Iran

Domestic News

1. Wang Yi and Dong Jun will chair the first Ministerial meeting of the "2+2" dialogue mechanism between the Foreign Ministers and Defense Ministers of China and Indonesia

According to the website of the Ministry of Foreign Affairs, the spokesperson of the Ministry of Foreign Affairs announced that Wang Yi, Member of the Political Bureau of the CPC Central Committee and Minister of Foreign Affairs, and Dong Jun, Minister of National Defense, will host the first ministerial meeting of the "2 2" dialogue mechanism between the foreign ministers and defense ministers of China and Indonesia in Beijing on April 21. Indonesian Foreign Minister and Minister of Defense will attend the meeting in China.

2. The spot of lithium carbonate is under pressure, and the upstream continues to accumulate inventory

As of April 18, Fubao information data showed that the average price of battery-grade lithium carbonate was 69,950 yuan/ton, down 0.59% month-on-month, and the average price of industrial-grade lithium carbonate was 69,100 yuan/ton, down 0.43% month-on-month. This week, the spot market transaction was flat, lithium salt plants were reluctant to sell at high prices, and downstream cathode plants were temporarily in a wait-and-see state. This week, the output of lithium carbonate was 16,800 tons, down 2.21% month-on-month, and the production lines of some large factories were overhauled, and small factories were still in the process of reducing production, and the overall output decreased slightly. This week, the total social inventory of lithium carbonate increased by 1,150 tons month-on-month to 121,500 tons, of which the upstream refinery factories were accumulated, and the downstream and other links were slightly destocked.

3. Ministry of Agriculture and Rural Affairs: This year's grain output is aimed at 1.4 trillion jin

The relevant person in charge of the Ministry of Agriculture and Rural Affairs introduced the operation of the agricultural and rural economy in the first quarter. Grain and oil production got off to a good start. The Ministry of Agriculture and Rural Affairs is keeping an eye on achieving the target of about 1.4 trillion jin of grain output this year, closely grasping spring management and spring ploughing, and laying a solid foundation for summer grain and annual grain harvest.

4. Beijing: GDP increased by 5.5% year-on-year in the first quarter

According to the information office of the Beijing Municipal Government, according to the results of the unified accounting of the gross domestic product, the city's GDP in the first quarter reached 1,215.99 billion yuan, a year-on-year increase of 5.5% at constant prices. By industry, the added value of the primary industry was 1.66 billion yuan, up by 1.2 percent; the added value of the secondary industry was 155.89 billion yuan, up by 6.0 percent; The added value of the tertiary industry was 1,058.43 billion yuan, up by 5.4 percent.

5. The Taiwan Affairs Office of the CPC Central Committee and the Taiwan Affairs Office of the State Council held a forum for representatives of Taiwan business people in Nanjing

The Taiwan Affairs Office of the CPC Central Committee and the Taiwan Affairs Office of the State Council held a forum for representatives of Taiwan businessmen in Nanjing, Jiangsu Province on 18 July. Representatives of Taiwan business people from all over the mainland participated in the discussion and exchanges. Song Tao, Director of the Taiwan Affairs Office of the CPC Central Committee and the Taiwan Affairs Office of the State Council, said at the forum that the tariff war launched by the United States cannot change the basic situation of the Chinese mainland's economic foundation being stable, resilient, and improving in the long run, and we have enough wisdom and ability to cope with and overcome various challenges. The Chinese mainland has always been a strong backing for Taiwan businessmen. We will study and solve the problems and difficulties faced by Taiwanese business people and enterprises, put forward practical policies and measures, implement equal treatment, increase support, strengthen the connection between cross-strait industrial and supply chains, support Taiwan-funded enterprises to participate in the implementation of major national strategies, help Taiwanese enterprises transform and upgrade, expand the domestic demand market, integrate into the new development pattern, and achieve high-quality development.

International News

1. British media: Trump does not want tariffs to continue to rise

According to Reuters news on the 18th, U.S. President Trump said on Thursday that the situation of mutual tariffs imposed by China and the United States is expected to usher in a turnaround. “I don’t want tariffs to continue to go up because when the price goes up to a certain point, people won't buy anymore,” Mr. Trump told reporters at the White House, "so I probably won't raise taxes further, and I may not even want to get to the current level of taxation. Maybe I'd go for a lower tax rate because you want people to keep spending, and at some tipping point, people will stop buying. ”

2. Despite the collapse in oil prices, Abu Dhabi continues to undergo large-scale urban construction

Over the past few years, Abu Dhabi, the capital of the United Arab Emirates, has used oil revenues to build a variety of buildings, including lavish museums and new office buildings, as financial firms have poured in. Despite the recent drop in oil prices, Mohammed Mubarak, head of the oil-rich city's tourism and culture department, said the pace of development was likely to be maintained. "Whether the price of oil is $55 or $100, we don't stop investing in these areas." Mubarak said. In times of economic turmoil, the wealthy Gulf states tend to be the world's last investors, and the region's financial outlook is closely watched globally. Gulf countries have been trying to diversify their economies to reduce their dependence on oil, but with oil prices hovering at $65, there are growing doubts about the region's government's ability to sustain public spending. However, the UAE is not as vulnerable to oil price fluctuations as some other countries. Fitch Ratings said last year that excluding certain investment income, the UAE's fiscal break even Brent crude oil price averaged $68 between 2025 and 2026, a figure significantly lower than that of neighbouring Saudi Arabia.

3. The 38th Sino-Vietnamese joint naval patrol in the Beibu Gulf was successfully concluded

On April 17, the 38th Sino-Vietnamese joint naval patrol in the Beibu Gulf was successfully concluded. The two-day joint patrol was attended by four Chinese and Vietnamese naval vessels, with the Chinese side having the Yongzhou and Aba naval vessels on duty. The warship formations of the two sides strengthened maritime communication and resource sharing, and organized a number of exercises.

4. Indonesia plans to complete trade talks with the United States within 60 days

Indonesia and the United States agreed to conclude negotiations on a trade and investment partnership within 60 days as the Southeast Asian country seeks to avoid higher tariffs on its exports to the United States, said Indonesia's Chief Economic Minister, Airlangga Hartarto. Hartarto said Indonesia expects its 20 major exports to the United States, including textiles, furniture and shrimp, to receive balanced tariffs no higher than those of rival countries. In return, Indonesia will cooperate in the mining of critical minerals and simplify the process of importing horticultural products from the United States. He said Indonesia has also sought to deepen cooperation with the United States in areas such as trade, investment, energy, finance, defense and education, and has submitted a document responding to the United States on non-tariff issues.

5. The Director General of the International Atomic Energy Agency (IAEA) visited Iran

Rafael Grossi, Director General of the International Atomic Energy Agency (IAEA), said during a visit to Iran on the 17th that the agency should play a role in the upcoming nuclear negotiations between Iran and the United States. Grossi made the remarks in an interview with Iranian media in Tehran, the capital of Iran. He met with the Chairman of the Atomic Energy Organization of Iran, Mohammad Islami, on the same day, and the previous day with the Minister of Foreign Affairs of Iran, Abbas. The media did not disclose the content of their talks. However, Iran's Info newspaper commented that Grossi’s visit was “of strategic importance at this juncture.”

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