April 8th Macroeconomic Index: China Accelerates Clean Energy Development, EU-US Strengthen AI Partnership

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Domestic News

1. National Energy Administration: Accelerate the development of clean energy and promote the construction of wind power and distributed photovoltaic

2. New quality productive force is a new driving force for China's high-quality development and a new driving force for the world's sustainable development

3. The construction of the first underground gas storage on the Qinghai-Tibet Plateau began

4. The cross-regional flow of people during the Qingming holiday is expected to exceed 750 million people

International News

1. The UN Secretary-General urged Ecuador and Mexico to resolve their differences peacefully

2. The Ministry of Defense of Ukraine said that it blew up an oil pipeline in Russia

3. The EU and the US issued a joint statement announcing that they will strengthen their partnership in the field of AI

4. Han Think Tank: The semiconductor industry has shown a sustained growth trend, driving a surge in export and production  

Domestic News

1. National Energy Administration: Accelerate the development of clean energy and promote the construction of wind power and distributed photovoltaic

The National Energy Administration recently issued the "Key Points of Fixed-point Assistance and Counterpart Support in 2024" to deploy the annual work goals and key tasks. In 2024, the National Energy Administration will focus on guiding and helping the revitalization and development of the three counties from four aspects. First, accelerate the development of clean energy. Promote the construction of wind power and distributed photovoltaics, improve the regulation capacity of the power system, and explore new models of energy development. The second is to strengthen the infrastructure for energy supply. Consolidate and improve the power grid guarantee capacity, make up for the shortcomings of people's livelihood energy consumption, and promote the construction of power supply and heat sources. The third is to coordinate assistance resources and improve the effectiveness of assistance. Expand channels for consumption assistance, strengthen industrial assistance, empower education and employment assistance, and do a good job in the training of skilled talents. Fourth, adhere to the leadership of party building, boost assistance, improve quality and efficiency. We should do a good job in party building, make good use of red educational resources, and select and assign cadres on temporary duty.

2. New quality productive force is a new driving force for China's high-quality development and a new driving force for the world's sustainable development

Chinese Ambassador to the United States Xie Feng made the above explanation in an exclusive interview with Newsweek on April 5 local time. He said that in a nutshell, the new quality productive force is to deepen reform, improve total factor productivity, promote advanced productivity, and achieve high-quality development through innovation-led. New quality productive force is a new driving force for China's high-quality development and a new driving force for the world's sustainable development. Xie Feng stressed that what people should worry about is not whether China's economy will "peak", but whether they will miss the new huge "China opportunity"; not whether China's economy will "collapse", but whether "decoupling and breaking chains" will hinder global economic recovery and geopolitical conflicts that subvert international peace.

3. The construction of the first underground gas storage on the Qinghai-Tibet Plateau began

It was learned from PetroChina Qinghai Oilfield Branch that the underground drilling, surface construction and related supporting projects of Mabei Underground Gas Storage, the world's highest altitude and the first UGS on the Qinghai-Tibet Plateau, have recently started in Haixi Mongolian and Tibetan Autonomous Prefecture of Qinghai Province, and the comprehensive control and operation of the project has been launched simultaneously. According to the overall deployment of the state and PetroChina, Mabei UGS is an organic part of the six major underground gas storage and peak shaving centers in the northeast, north China, northwest, southwest, central and western regions and central and eastern parts of the country, and the gas injection source comes from the self-produced gas of Qinghai Oilfield, the main gas field such as Shibei, with a designed working gas volume of about 261 million cubic meters, which will play a positive role in the peak supply of natural gas supply in Qinghai, Tibet, Gansu and Ningbo provinces (regions), emergency gas supply and stable production in Qinghai gas area, and the strategic position and significance are very important.

4. The cross-regional flow of people during the Qingming holiday is expected to exceed 750 million people

According to the Ministry of Transport, during this year's Qingming holiday (April 4-6), it is estimated that the cross-regional flow of people in the whole society will be 752.836 million, with a daily average of 250.945 million people, an average daily increase of 56.1% over the same period in 2023 (Qingming holiday) and an average daily increase of 20.9% over the same period in 2019.

International News

1. The UN Secretary-General urged Ecuador and Mexico to resolve their differences peacefully

UN Secretary-General António Guterres was shocked by the recent entry of Ecuadorian police into the Mexican Embassy in Ecuador to arrest the former Vice President of Ecuador who had sought asylum at the embassy, UN Secretary-General António Djarric said on April 6. And Guterres stressed the importance of maintaining the inviolability of diplomatic institutions. He stated that this must be respected in accordance with international law in any case. Guterres also urged Ecuador and Mexico to resolve their differences through peaceful means.

2. The Ministry of Defense of Ukraine said that it blew up an oil pipeline in Russia

On April 6, local time, the Main Intelligence Directorate of the Ministry of Defense of Ukraine announced on its official social platform that an oil pipeline in Russia's Rostov Oblast was blown up in the early morning of April 6, and the facility was used for military purposes. The Russian side has not responded to this for the time being.

3. The EU and the US issued a joint statement announcing that they will strengthen their partnership in the field of AI

On April 5, the European Union and the United States issued a joint statement announcing that they would strengthen their partnership in the field of AI. According to the statement, the cooperation aims to discuss how to make AI both safe and useful. The two sides decided to jointly carry out a number of research projects using AI for the benefit of mankind. At the same time, the EU and the United States will work to update a series of key AI terms and provide "mutually agreed definitions" to lay a key foundation for AI standardization. The statement is the main outcome of the sixth meeting of the U.S.-EU Trade and Technology Council (TTC), and it also covers other scientific and technological fields such as semiconductors, quantum technology and 6G, which is relatively informative. It is worth noting that the European and American sides also emphasized in the statement that they will strengthen the supervision of large technology companies.

4. Han Think Tank: The semiconductor industry has shown a sustained growth trend, driving a surge in export and production

According to the "April Economic Trends" report released by the Korea Development Institute (KDI) on the 7th, domestic demand continued to be sluggish, but under the leadership of the information technology industry, exports continued to recover and recession fears were alleviated. The rebound in the conductor cycle has also had a positive impact on equipment investment. The special-purpose machinery index, which is closely related to semiconductor investment, recorded a high increase of 8.6% in February, following January (13.5%). However, the overall equipment investment index fell by 0.3% year-on-year. KDI said that the semiconductor industry has shown a continuous growth trend, driving a surge in exports and production, which is also reflected in some financial indicators such as stock prices.

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