January 12th Macroeconomic Index: China's Auto Sales Surge 12%, Public Charging Piles Increase by 51.7%

   Daily Macro Economy News

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International Crude Price Trend and Exchange Rate of RMB to USD Trend

Domestic News

1. Shanghai Headquarters of the People's Bank of China: Maintain the steady growth of the scale of monetary credit and social financing

2. China National Petroleum Corporation and other Shanxi provinces enterprises invested in the establishment of new energy development companies

3. China Automobile Association: In 2023, China's automobile sale was 30.094 million units, a year-on-year increase of 12%

4. China Charging Alliance: The number of public charging piles in December 2023 increased by 51.7% year-on-year

International News

1. Japan's sales of imported pure electric vehicles in 202 exceeded 20,000 units for the first time, Tesla, BYD, Mercedes-Benz and other brands sales are among the top

2. Institutions: It is estimated that the global notebook market demand will increase by 3.6% annually in 2024

3. The Turkish lira fell to a new low against the US dollar

4. British government bond yields edged lower as expectations of the Bank of England's interest rate cut in the first half of the year rose

Domestic News

1. Shanghai Headquarters of the People's Bank of China: Maintain the steady growth of the scale of monetary credit and social financing

The 2024 People's Bank of China Shanghai Headquarters Work Conference was held. In 2024, it is necessary to maintain the steady growth of the scale of monetary credit and social financing. Encourage financial institutions to continue to increase financial support for the three leading industries and six key industries. Strengthen financial support to new technologies, new tracks, and new markets. Support financial institutions to carry out new forms of trade settlement. Promote the steady and healthy development of Shanghai's real estate market. Increase the support of bond and bill business in key areas.

2. China National Petroleum Corporation and other Shanxi provinces enterprises invested in the establishment of new energy development companies

Recently, Shanxi Hydrogen Energy Kunlun Energy Development Co., Ltd. was established with a registered capital of 20 million yuan, and its business scope includes: sales of hydrogen refueling and hydrogen storage facilities for stations, centralized fast charging stations, operation of electric vehicle charging infrastructure, solar power generation technical services, etc. According to the equity penetration of Qichacha, the company is jointly held by China National Petroleum Corporation and Shaanxi Hydrogen Energy Industry Development Co., Ltd.

3. China Automobile Association: In 2023, China's automobile sale was 30.094 million units, a year-on-year increase of 12%

According to data released by the China Association of Automobile Manufacturers today (11th), in 2023, China's automobile production and sales were 30.161 million and 30.094 million respectively, an increase of 11.6% and 12% year-on-year respectively, of which 4.91 million vehicles were exported, a year-on-year increase of 58%. In 2022, China became the world's second-largest exporter of automobiles. In 2023, China exported 4.91 million vehicles, and was expected to become the world's largest automobile exporter. At present, Chinese automobiles have been exported to more than 200 countries and regions.

4. China Charging Alliance: The number of public charging piles in December 2023 increased by 51.7% year-on-year

According to the statistics of the China Charging Alliance, there was 100,000 more public charging piles in December 2023 than in November, and a year-on-year increase of 51.7% in December. As of December 2023, the members of the alliance have reported a total of about 2.726 million public charging piles, including 1.203 million DC charging spots and 1.522 million AC charging spots. From January 2023 to December 2023, an average of about 77,000 new public charging piles was added every month.

International News

1. Japan's sales of imported pure electric vehicles in 202 exceeded 20,000 units for the first time, Tesla, BYD, Mercedes-Benz and other brands sales are among the top

The Japan Automobile Importers Association announced on November 11 that the import sales of new electric vehicles (EVs) from foreign manufacturers in 2023 were 22,890 units, a significant increase of 59.6% from the previous year and exceeding 20,000 units for the first time. The influence of overseas manufacturers in the EV market is gradually emerging. Imported EVs just exceeded 10,000 units in 2022 and continued to soar in 2023. The EVs share of imported vehicles by foreign manufacturers also reached a record high of 9.2%. U.S. EV giant Tesla, China's BYD, and German auto giant Mercedes-Benz Group led the sales growth, driving the overall sales.

2. Institutions: It is estimated that the global notebook market demand will increase by 3.6% annually in 2024

According to a research report by TrendForce, the global market demand for laptops was sluggish in 2023 due to the impact of high inflation, with annual shipments of only 166 million units, down 10.8% year-on-year, but the recession was narrower than that in 2022. In the first half of 2024, with the gradual destocking of major notebook manufacturers and the favorable conditions of slowing inflation, the forecast index of recent interest rate cuts in the United States has risen, if the market expects the US Federal Reserve to start cutting interest rates as soon as the first half of this year, it will help reduce the financing and borrowing costs of enterprises, increase the liquidity capital level, and the generational change of Microsoft's operating system, so as to promote the secure system upgrade of enterprise users, which is expected to drive the demand for laptops to replace the old with the new. As a result, TrendForce expects the demand for notebooks to improve quarter-on-quarter in 2024, with the global laptop market showing moderate growth, with shipments growing at an annual rate of about 3.6% to 172 million units.

3. The Turkish lira fell to a new low against the US dollar

According to Turkish media reports on the 11th local time, continuing the recent downward trend, the Turkish lira fell below the record low of 30 lira to per US dollar on the same day. In recent years, the Turkish lira has continued to depreciate. The data shows that the lira fell by about 44% against the US dollar in 2021, about 30% in 2022 and nearly 50% in 2023. Since the beginning of 2024, it has continued to decline.

4. British government bond yields edged lower as expectations of the Bank of England's interest rate cut in the first half of the year rose

UK bond yields fell as the market expected the Bank of England to start cutting interest rates in the first half of 2024. Goodwin, chief UK economist at Oxford Economics, said in a note: “Inflation is on track to return to the 2% target in April. We expect the Bank of England to start preparing for a rate cut by sharply lowering its expectations in its February Monetary Policy Report.” Refinitiv data showed that the market fully digested the Bank of England's first rate cut in May. The UK 10-year bond yield fell about 2 basis points to 3.783%, and the UK 2-year yield fell 3 basis points to 4.197%, the data showed.

Domestic Macro Economy Index