March 1st Macroeconomic Index: China's Stock Market Fundraising Drops, Alibaba Cloud Cuts Prices, Travel Spending Surges

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Domestic News

1. National Bureau of Statistics: The cumulative fundraising of the Shanghai and Shenzhen stock exchanges in 2023 was 437.5 billion yuan less than that of the previous year

2. Alibaba Cloud reduced the price by 20% across the board

3. In 2023, the total travel expenditure of domestic tourists was 4,913.3 billion yuan

4. National Bureau of Statistics: The National Input-Output Survey has added questionnaires in key areas such as new energy vehicle manufacturing

International News

1. A judge in Illinois, the United States, made a ruling that Trump is not eligible for party primaries in this year's presidential election

2. Palestinian Foreign Minister: don't think there will be a "miracle" in the talks between Hamas and Fatah

3. Bitcoin once rose above $64,000, and MicroStrategy's stock price soared 40% in three days

4. A 4.7-magnitude earthquake occurred around the eastern coast of Chiba Prefecture, Japan                                                                                                                                                                                                                                                                                                    

Domestic News

1. National Bureau of Statistics: The cumulative fundraising of the Shanghai and Shenzhen stock exchanges in 2023 was 437.5 billion yuan less than that of the previous year

According to the 2023 Statistical Communiqué on National Economic and Social Development released by the National Bureau of Statistics, in terms of A-shares, the A-shares of the Shanghai and Shenzhen Stock Exchanges raised a total of 1,073.4 billion yuan, a decrease of 437.5 billion yuan from the previous year. The Shanghai and Shenzhen Stock Exchanges listed 236 A-shares through initial public offerings, raising 341.8 billion yuan, a decrease of 228.6 billion yuan from the previous year, including 67 stocks on the Science and Technology Innovation Board, raising 143.9 billion yuan, and the Shanghai and Shenzhen Stock Exchanges' A-share refinancing (including public placement, private placement, allotment, preferred shares, and convertible bond swaps) was 731.6 billion yuan, a decrease of 208.9 billion yuan. The Beijing Stock Exchange publicly issued 77 stocks, raising 14.6 billion yuan. During the year, various entities raised 13.0677 trillion yuan through the issuance of bonds (including corporate bonds, asset-backed securities, treasury bonds, local government bonds and policy bank bonds) on the Shanghai and Shenzhen North Stock Exchanges.

2. Alibaba Cloud reduced the price by 20% across the board

Alibaba Cloud lowered the price of cloud products on its official website by an average of more than 20% and up to 55%. This is the largest price reduction in Alibaba Cloud's history, involving more than 100 products and more than 500 product specifications, covering all core products such as computing, storage, and databases, and millions of new and existing customers can directly benefit from this price reduction. After the price reduction, the prices of Alibaba Cloud's core products have broken through the lowest prices in the whole network.

3. In 2023, the total travel expenditure of domestic tourists was 4,913.3 billion yuan

The National Bureau of Statistics released the 2023 Statistical Communiqué on National Economic and Social Development. According to the data, there were 4.89 billion domestic trips throughout the year, an increase of 93.3% over the previous year. The total travel expenditure of domestic tourists was 4,913.3 billion yuan, an increase of 140.3 percent. There were 82.03 million inbound tourists, including 13.78 million foreigners and 68.24 million compatriots from Hong Kong, Macao and Taiwan. Inbound tourists spend a total of $53 billion. Domestic residents left 100.96 million people, including 96.84 million for private purposes and 77.04 million for Hong Kong, Macao and Taiwan.

4. National Bureau of Statistics: The National Input-Output Survey has added questionnaires in key areas such as new energy vehicle manufacturing

It was learned from the National Bureau of Statistics that the current national input-output survey has added questionnaires in key areas such as new energy vehicle manufacturing, new energy power generation, Internet and related service industries, which is conducive to a more comprehensive and accurate understanding of the new changes in China's economic structure.

International News

1. A judge in Illinois, the United States, made a ruling that Trump is not eligible for party primaries in this year's presidential election

On February 28, local time, a judge in Illinois, the United States, ruled that former President Trump was not eligible to hold public office because of his participation in the Capitol Hill riot, and his name could not appear on the Illinois Republican primary ballot for this year's U.S. presidential election. The ruling invoked Section 3 of the Fourteenth Amendment to the U.S. Constitution, known as the "Insurgency Prohibition," which prohibits those who have sworn in support of the U.S. Constitution and then participated in the rebellion. The ruling is currently suspended pending Trump's appeal.

2. Palestinian Foreign Minister: don't think there will be a "miracle" in the talks between Hamas and Fatah

Representatives of the Palestinian Islamic Resistance Movement (Hamas) and the Palestinian National Liberation Movement (Fatah) will meet in Moscow, the capital of Russia, on February 29 local time to discuss the formation of a unified Palestinian government and the reconstruction of the Gaza Strip. In this regard, Palestinian Foreign Minister Maliki said in Geneva on the 28th that although he welcomed the meeting between Hamas and Fatah in Moscow, he did not think that the talks would be a "miracle".

3. Bitcoin once rose above $64,000, and MicroStrategy's stock price soared 40% in three days

Shares of MicroStrategy, the world's largest bitcoin holder, rose 10.46% on Wednesday and up 40% for the week. Michael Saylor, the company's founder and chairman, was worth nearly $700 million in three days. Microstrategy currently holds a total of about 193,000 bitcoins, worth nearly $11.8 billion. The biggest catalyst for the company's rising stock price was Bitcoin's rally to its highest level since November 2021. The digital currency rose to about $64,000 on Wednesday from $51,500 earlier Monday and has now fallen back to around $61,000.

4. A 4.7-magnitude earthquake occurred around the eastern coast of Chiba Prefecture, Japan

According to the Japan Meteorological Agency, at around 11:13 local time on February 29, a 4.7-magnitude earthquake occurred off the eastern coast of Chiba Prefecture, Japan, with a maximum seismic intensity of 3. The depth of the epicenter is 30 km.

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