January 5th Macroeconomic Index: China's Pig Sales Revenue Hits 9.66 Billion Yuan, Global Auto Sales and Inflation Trends

   Daily Macro Economy News

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

Domestic News

1. Da Bei Nong Group: The cumulative sales revenue of live pigs from January to December was 9.66 billion yuan

2. Ministry of Foreign Affairs: China will continue to be an important engine for world economic growth

3. Eighteen ministries and commissions jointly issued the "Work Plan for the Construction of the Basic Public Service Standard System"

4. Four departments: vigorously promote smart and orderly charging facilities, and in principle, new charging piles will uniformly adopt smart and orderly charging piles

International News

1. Morgan Stanley's outlook on the dollar turned neutral

2. The global sales of South Korea's five major automakers exceeded 7 million units for three consecutive years

3. The cost of energy and services is driving up inflation in France

4. Iraq's Ministry of Oil: Oil exports averaged 3.5 million barrels per day in December

Domestic News

1. Da Bei Nong Group: The cumulative sales revenue of live pigs from January to December was 9.66 billion yuan

Da Bei Nong Group announced that the total sales number of live pigs in December was 721,500 heads, and the cumulative number from January to December was 6.0487 million heads, the total sales revenue in December was 1.074 billion yuan, and the cumulative number from January to December was 9.660 billion yuan, and the average sales price of commercial fat pigs of the company's holding companies and joint-stock companies was 13.42 yuan/kg in the month.

2. Ministry of Foreign Affairs: China will continue to be an important engine for world economic growth

At a regular press conference held by the Chinese Ministry of Foreign Affairs today, spokesman Wang Wenbin said that in the past year, China's economy has withstood external pressure, continued to rebound, and made solid progress in high-quality development. Relevant international institutions predict that China's annual economic growth will be about 5.2% in 2023, maintaining a leading growth rate among the world's major economies and remaining the largest engine of global growth. In the new year, China will fully implement the new development concept, accelerate the construction of a new development paradigm, promote high-quality development, continue to give full play to its advantages of strong innovation momentum, broad market, refined infrastructure, complete industrial chain, abundant and high quality human resources, expand high-level opening-up, continue to relax market access, continue to build a market-oriented, law-based and international first-class business environment, and share the new opportunities brought by Chinese-style modernization with the world.

3. Eighteen ministries and commissions jointly issued the "Work Plan for the Construction of the Basic Public Service Standard System"

The National Standards Committee, the National Development and Reform Commission, the Ministry of Finance, the Ministry of Education and other ministries and departments with a total of 18 recently jointly issued the "Work Plan for the Construction of the Basic Public Service Standard System". The "Work Plan" puts forward a total of 7 key tasks and 3 safeguard measures, offers the overall framework of the basic public service standard system, focuses on 9 major areas and basic public services and basic general fields, and puts forward the key directions for the future development of national standards and industry standards. It is expected that by 2027, 200 national standards and industry standards in the field of basic public services will be newly developed, and supporting local standards will be more complete and effective, gradually improve the basic public service standard system, and create 80 pilot projects for the standardization of basic public services, so as to further improve the overall level of China's basic public service standardization.

4. Four departments: vigorously promote smart and orderly charging facilities, and in principle, new charging piles will uniformly adopt smart and orderly charging piles

Vigorously promote smart and orderly charging facilities, in principle, newly built  charging piles uniformly adopt smart and orderly charging piles, and promote the smart transformation of existing charging piles as needed. Encourage power grid enterprises to cooperate with charging operators to establish an efficient interaction mechanism between the power grid and charging swapping stations, and improve the power response and regulation capacity of charging swapping stations. Explore and study the verification methods and related standards and specifications for the power access capacity of different types of intelligent and orderly charging swapping facilities, so as to effectively improve the access capacity of the power distribution network.

International News

1. Morgan Stanley's outlook on the dollar turned neutral

Morgan Stanley's view on the outlook for the US dollar has turned neutral. The bank said that its previous confidence in the currency's continued strength had weakened significantly. According to Morgan Stanley, investors seem to be embracing the mindset that the peak of the Fed's hawkish stance will be enough to overwhelm the dollar's positives factors, for example, a possible surprise upside in U.S. growth, an unexpected downside in overseas economy growth or a rise in U.S. inflation. The bank added that it is more difficult to imagine the strength of the dollar as US interest rates have fallen further compared to other countries.

2. The global sales of South Korea's five major automakers exceeded 7 million units for three consecutive years

According to South Korea's "Yazhouribao", according to statistics, the global sales of South Korea's five major automakers (Hyundai Motor, Kia, Renault Korea, South Korea's General Motors, and KG Motors) reached 7,991,214 units last year, a year-on-year increase of 8%, exceeding 7 million units for three consecutive years after 2021 (7,122,346 units) and 2022 (7,396,674 units). Last year, 1,449,885 vehicles were sold in its domestic market and 6,535,601 units were sold in the overseas market, an increase of 4.4% and 8.8% respectively.

3. The cost of energy and services is driving up inflation in France

Inflation in France edged up in December as service prices rose faster and energy prices rose sharply after the government cut support for households. Data released on Thursday showed that France's harmonized CPI rose 4.1% year-on-year in December, higher than that of 3.9% in November. This is in line with the median forecast of analysts' previous surveys, although it is still well below the peak of 7.3% set in February 2023. Recently, price gains in the G20 have cooled sharply, promoting investors to ramp up bets that interest rates will be cut by mid-2024, as some ECB officials have been hinting at. Overall Eurozone data released on Friday is expected to show inflation returning to 3%, although inflation is expected to continue to slow over time, and a sluggish European economy could help bring inflation down.

4. Iraq's Ministry of Oil: Oil exports averaged 3.5 million barrels per day in December

Iraq's Ministry of Oil: Oil exports witnessed an averaged 3.5 million barrels per day in December, and Iraq's average oil price in December was $76.96 per barrel. Iraq's national news agency: oil exports of Iraq in December were 108.056 million barrels, and oil revenues reached $8.316 billion.

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