December 7th Macroeconomic Index: China's Steady Growth Policy Supports Non-Ferrous Metal Consumption, Top 100 Real Estate Sales Decline

   Daily Macro Economy News

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Domestic News

1. Speeding up the construction of the "five centers" is an important mission entrusted to Shanghai by the CPC Central Committee

2. Promote the formulation of risk disposal plans of "one province, one policy", "one industry, one policy" and "one department, one policy" to avoid "one size fits all"

3. China continues to maintain the policy of steady growth, and the resonance of domestic and foreign consumption can be expected, and the consumption of non-ferrous metals will be guaranteed

4. The sales of the top 100 real estate companies in November fell by 0.6% month-on-month, and they entered the annual performance sprint period this month

International News

1. China and the United States and the United Arab Emirates held the "Methane and Non-CO2 Greenhouse Gas Summit"

2. Cuban President Miguel Díaz-Canel visited Iran

3. US media: Israel expands ground offensive in Gaza

4. The World Bank Group announced that it will increase its financing support for climate change

Domestic News

1. Speeding up the construction of the "five centers" is an important mission entrusted to Shanghai by the CPC Central Committee

Speeding up the construction of the "five centers" is an important mission entrusted to Shanghai by the CPC Central Committee. Shanghai should take this as the main direction and coordinate and lead all aspects of economic and social development. It is necessary to strengthen the linkage with the Yangtze River Delta region and better play its role of radiation and driving. It is necessary to comprehensively deepen reform and opening up from a higher starting point and enhance the driving force and competitiveness of development.

2. Promote the formulation of risk disposal plans of "one province, one policy", "one industry, one policy" and "one department, one policy" to avoid "one size fits all"

We must resolutely fight the tough battle and protracted battle, focusing on accelerating the reform of small and medium-sized financial institutions to reduce risks. Give full play to professional advantages, strengthen guidance and coordination, and promote the formulation of risk disposal plans for "one province, one policy", "one industry, one policy" and "one department, one policy", so as to avoid "one size fits all".

3. China continues to maintain the policy of steady growth, and the resonance of domestic and foreign consumption can be expected, and the consumption of non-ferrous metals will be guaranteed

Recently, the central bank released the monetary policy implementation report for the third quarter of 2023, which will continue to maintain a steady and loose monetary policy, boost domestic macro sentiment, lay a foundation for domestic demand, repair overseas demand, and jointly promote the growth of non-ferrous metal consumption. China's economy is steady and steady, which is the ballast stone for the growth of commodity consumption in 2024. It is expected that in 2024, the active fiscal policy will be supplemented by reasonable and abundant liquidity to strengthen the steady growth, and China will continue the steady growth policy, and the resonance of domestic and foreign consumption can be expected, and the consumption of non-ferrous metal will be guaranteed. We should be optimistic about the long-term allocation opportunities brought by the process of de-globalization to precious metals.

4. The sales of the top 100 real estate companies in November fell by 0.6% month-on-month, and they entered the annual performance sprint period this month

According to the latest data from the China Index Research Institute, from January to November 2023, the total sales of the top 100 real estate companies will be 5737.9 billion yuan, a year-on-year decrease of 14.7%, and the decline will be 1.6 percentage points higher than that of the previous month. Among them, the monthly sales of the TOP100 real estate companies in November fell by 29.2% year-on-year and 0.6% month-on-month. In the view of the research director of the E-House Real Estate Research Institute, in December, all kinds of real estate companies should make full use of the window period at the end of the year to actively improve sales, and the head real estate companies can strive to achieve the sales scale of 400 billion yuan and actively do an excellent job in annual sales.

International News

1. China and the United States and the United Arab Emirates held the "Methane and Non-CO2 Greenhouse Gas Summit"

China and the United States and the United Arab Emirates held the "Methane and Non-CO2  Greenhouse Gas Summit", during which China's Special Envoy for Climate Change Xie Zhenhua and US Special Presidential Envoy for Climate Issues John Kerry discussed important issues such as the implementation of the China-US Sunnylands Statement, Methane Emission Reduction, and International Cooperation.

2. Cuban President Miguel Díaz-Canel visited Iran

On December 3 local time, at the official invitation of Iranian President Raisi, President of the Republic of Cuba Miguel Díaz-Canel arrived in Tehran for a visit to Iran. This is the second visit to Iran by a Cuban leader in 22 years.

3. US media: Israel expands ground offensive in Gaza

According to US media Politico, the Israeli military said on Sunday that its ground offensive had expanded to every part of Gaza, and the authority had ordered more evacuations in the densely populated south part, vowing that the blow to Hamas there would be "no less" than previous operations in the north. The Israeli military said its fighter jets and helicopters attacked targets in the Gaza Strip, including "tunnel shafts, command centers and weapons storage facilities." The statement also acknowledged the occurrence of massive air strikes in the Khan Younis area. Osama Hamdan, a senior Hamas official, said negotiation to resume further exchange with Israel must be linked to a permanent ceasefire.

4. The World Bank Group announced that it will increase its financing support for climate change

The World Bank Group announced that it will increase its financial support for climate change to 45% of its total financing for climate-related projects in the next fiscal year. At the increased rate, more than $40 billion will be invested in the fight against climate change in the fiscal year.

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