February 21 Macroeconomic Index:The growth momentum of new energy vehicles is strong until 2025, and the international situation and technological development go hand in hand

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Domestic News

1. Agency: Global NEV sales are expected to increase by 18% annually in 2025

2. Guangdong: Increase the supply of financial and insurance products to meet the needs of the development of new forms of consumption such as the sharing economy

3. Centanet: The total value of private residential property prices in Hong Kong fell below HK$9 trillion in January 2025

4. The Ministry of Commerce responded to the Sino-EU pork anti-dumping case and the dairy product countervailing case

5. Ministry of Commerce: As of 24 o'clock on February 19, 169,000 cars have been scrapped and renewed nationwide

 International News

1. Many European countries are considering the formation of a 30,000 Ukrainian "support" army

2. Bearish bets on Asian currencies eased further as markets are bearish on Trump's tariff threat

3. Analysts: A stronger yen and concerns over U.S. tariffs pushed the NIKKEI lower to close at a two-week low

4. Iran's Deputy Foreign Minister: Iran is currently negotiating with the European Union

5. The U.S. research institute released Evo 2, the largest AI model in the field of biology

Domestic News

1. Agency: Global NEV sales are expected to increase by 18% annually in 2025

According to the latest statistics from Trend Force, global sales of battery electric vehicles (BEVs), plug-in hybrid electric vehicles (PHEVs), and hydrogen fuel cell vehicles reached 16.29 million units in 2024, an increase of 25% year-on-year, of which the Chinese market accounted for 67%. Global NEV sales are expected to increase by 18% annually in 2025.

2. Guangdong: Increase the supply of financial and insurance products to meet the needs of the development of new forms of consumption such as the sharing economy

The Guangdong Provincial People's Government issued the "Several Measures for Promoting the High-quality Development of Service Consumption in Guangdong Province", which proposes to strengthen fiscal, tax and financial support. Make full use of existing funds to promote industrial development and actively guide social investment, support the digital transformation, platform construction, talent training, and brand promotion of service consumption-related enterprises, and support service consumption-related market entities to become bigger and stronger. Encourage government financing guarantee institutions to provide financing credit enhancement support for eligible small and micro enterprises in the service industry and individual industrial and commercial households, and reduce financing guarantee rates. Guide banking financial institutions to increase credit support for key areas of service consumption such as catering and accommodation, elderly care, household appliances, cultural tourism, e-commerce, and e-sports in accordance with the principles of controllable risk and commercial sustainability, and increase the supply of financial and insurance products to meet the needs of the development of new forms of consumption such as the sharing economy.

3. Centanet: The total value of private residential property prices in Hong Kong fell below HK$9 trillion in January 2025

According to Centanet, the total market value of private residential property prices in Hong Kong in September 2021 was over HK$12 trillion, with an average property price of HK$9.82 million. With the fall in property prices, the total value fell below HK$9 trillion in January 2025 to a low of HK$8.99 trillion, compared with HK$9.5 trillion before the withdrawal, it fell by nearly HK$480 billion in a year, and the average property price fell to HK$6.99 million.

4. The Ministry of Commerce responded to the Sino-EU pork anti-dumping case and the dairy product countervailing case

The Ministry of Commerce held a regular press conference on the afternoon of February 20, and a reporter asked questions about the progress of the anti-dumping and dairy anti-subsidy investigations between China and the EU. He Yadong, spokesperson of the Ministry of Commerce: The China-EU pork anti-dumping case and the dairy product countervailing case are currently under investigation. In accordance with China's relevant laws and regulations and WTO rules, we will conduct investigations in an open and transparent manner to fully protect the rights of all stakeholders.

5. Ministry of Commerce: As of 24 o'clock on February 19, 169,000 cars have been scrapped and renewed nationwide

On the afternoon of February 20, the Ministry of Commerce held a regular press conference. Reporter: At the beginning of this year, the Ministry of Commerce and other departments have successively introduced the policy of exchanging the old for the new and expanding the scope of consumer goods. He Yadong, spokesman of the Ministry of Commerce, said that since the beginning of this year, the Ministry of Commerce, together with various regions and relevant departments, has paid close attention to the implementation of fast drying and expansion of the implementation of trade-in of consumer goods, so as to promote the early implementation of measures to benefit the people and benefit the masses as soon as possible. As of 24:00 on February 19, 169,000 cars had been scrapped and renewed across the country, more than 3.97 million consumers had purchased more than 4.87 million trade-in products for 12 categories of household appliances, and more than 26.71 million consumers had applied for subsidies for the purchase of new digital products such as mobile phones, tablets and smart watch bracelets. 647,000 electric bicycles were traded-in. Driven by the trade-in policy, related industries have maintained a rapid growth momentum. For example, since the beginning of this year, the recycling volume of scrapped vehicles in China has increased by about 35% year-on-year, and the retail sales of new energy passenger vehicles have increased by more than 20% year-on-year.

International News

1. Many European countries are considering the formation of a 30,000 Ukrainian "support" army

The British "Times" reported on the 19th, citing a number of Western government figures, that military leaders of many European countries are considering forming a "support" force of nearly 30,000 people for Ukraine, which will be deployed outside the front line of the battlefield in eastern Ukraine, focusing on relying on air power to deter Russia. The "support" force to aid Ukraine will be led by Britain and France. At the same time, many countries stressed that the relevant ideas must be supported by the United States. Britain wants the US side to provide "airspace coverage" for the "support" forces, and one of the options is to deploy American military aircraft in Poland and Romania.

2. Bearish bets on Asian currencies eased further as markets are bearish on Trump's tariff threat

Short positions in Asian currencies were all at multi-month lows on Thursday as analysts' concerns about a possible extension of the global trade war eased and factored in rising appetite for risk-sensitive assets. A Reuters poll of 13 respondents showed that the bearish position in the Singapore dollar was the lowest since October 31, 2024, while the short position in the South Korean won fell to the lowest since the beginning of October last year. The Thai baht is one of the best performing currencies in Southeast Asia, rising more than 2% since the start of the year. Poon Panichpibool, market strategist at Krung Thai Bank, attributed the adjustment to the baht's position to the recent rise in gold prices, but he was cautious about the baht due to uncertainty on the US side.

3. Analysts: A stronger yen and concerns over U.S. tariffs pushed the NIKKEI lower to close at a two-week low

The Nikkei 225 fell more than 1% on Thursday to close at a more than two-week low, as a stronger yen sent automakers' shares down as investors assessed the potential impact of US President Donald Trump's latest tariff threat. Naoki Fujiwara, senior fund manager at Shinkin Asset Management, said: "The strengthening of the yen against the dollar and uncertainty over the US tariff policy have pushed Japanese equities lower. ”

4. Iran's Deputy Foreign Minister: Iran is currently negotiating with the European Union

Iranian Deputy Foreign Minister Takht Ravanchi said that Iran is currently negotiating with European countries, Iran is reporting, the Islamic Republic of Iran News Agency (IRNA) reported. In an interview with television, Takht Ravanchi said that both European countries and Iran are eager to move forward with these discussions, adding that the framework for negotiations has been established and that the parties will abide by it to reach an agreement. He spoke about threats from the US and Israeli regimes, noting that these threats are not new, but they are well aware of Iran's true power. He warned that if the United States and Israel take any reckless action against Iran, they will face serious consequences. Regarding the issues in Syria, he said that Tehran is closely monitoring the situation and wants to restore security in the country. He also urged other countries not to interfere in Syria's internal affairs.

5. The U.S. research institute released Evo 2, the largest AI model in the field of biology

The American Arc Research Institute released a communiqué on its official website on the 19th, saying that the artificial intelligence (AI) biological model Evo 2 jointly developed by researchers from the institute, American chip manufacturer Nvidia and Stanford University and other institutions was officially released on the same day. The communiqué said that on the basis of the previous generation model, Evo 1, Evo 2 has developed into the largest AI model in the field of biology at present. The model is trained on 9.3 trillion nucleotides from more than 128,000 genomic data. (Xinhua News Agency).

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