November 7th Macroeconomic Index: China's IoT Connections to Exceed 3 Billion, Marine GDP Grows 5.4%

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Domestic News

1. State-owned Assets Supervision and Administration Commission: Ensuring the successful completion of the annual reform and development goals and tasks of central enterprises

2. The Ministry of Industry and Information Technology organized the selection of the first batch of advanced and applicable technologies

3. The number of Internet of Things connections in China is expected to exceed 3 billion

4. In the first three quarters, China's marine GDP was 7.7 trillion yuan, a year-on-year increase of 5.4%

5. In the first three quarters, 2.45 million low-income people were recruited to work for cash to increase their income

 International News

1. The "Trump deal" was questioned, the dollar fell, and U.S. bonds rose

2. The Monetary Authority of Singapore (MAS) promotes the token of financial services

3. Japan's new H3 rocket No. 4 was launched

4. "Concealing identity" does not work, and the Houthis say that they continue to blockade Israel by sea

5. Goldman Sachs: In the past four weeks, global funds have flowed into the Chinese mainland stock market of 24.385 billion US dollars

Domestic News

1. State-owned Assets Supervision and Administration Commission: Ensuring the successful completion of the annual reform and development goals and tasks of central enterprises

On November 4, the Party Committee of the State-owned Assets Supervision and Administration Commission of the State Council held an enlarged meeting. The meeting required that the current and long-term should be coordinated, and the implementation of various policies and measures should be effectively implemented, and the combination of stable growth should be played to ensure the successful completion of the annual reform and development goals and tasks of central enterprises, and make positive contributions to stabilizing expectations, strengthening confidence and promoting development. It is necessary to keep an eye on the goal and pay close attention to improving quality and efficiency, implement special actions to improve quality and efficiency, guide enterprises to make good use of relevant support policies, continue to optimize business strategies, make every effort to expand effective investment, strengthen cost and expense control, and strive to increase efficiency and make more contributions.

2. The Ministry of Industry and Information Technology organized the selection of the first batch of advanced and applicable technologies

The Ministry of Industry and Information Technology recently issued a notice to organize the selection of the first batch of advanced and applicable technologies. It will be oriented to the non-ferrous metals, chemical industry, general machinery, light industry, and electronics industries, and select technologies with applicability as the core, leading technological advantages, mature application practices, and rapid replication and promotion, and in line with the coordinated development of economy and society, including processes, materials, equipment, software, systems, management, consulting and services for carrying and applying technology. Specifically, it includes four directions: high-end technology, intelligent technology, green technology, and industrial basic technology.

3. The number of Internet of Things connections in China is expected to exceed 3 billion

The 2024 World Internet of Things Conference opened at the China National Convention Center in Beijing, and released the White Paper on the Intelligent Digital Economy of the World. According to the data, China is at the forefront of the world in terms of Internet of Things infrastructure and digital economy innovation and development, and the number of Internet of Things connections is expected to exceed 3 billion this year.

4. In the first three quarters, China's marine GDP was 7.7 trillion yuan, a year-on-year increase of 5.4%

According to the Ministry of Natural Resources, in the first three quarters, China's marine GDP was 7.7 trillion yuan, a year-on-year increase of 5.4%. The marine economy is showing a steady and progressive trend. In the first three quarters, the approved sea area nationwide increased by 6.7% year-on-year, and the investment involved in the project exceeded 740 billion yuan. The supply capacity of the "blue granary" continued to strengthen, and the domestic output of marine aquatic products increased by more than 4% year-on-year.

5. In the first three quarters, 2.45 million low-income people were recruited to work for cash to increase their income

It was learned from the National Development and Reform Commission that the National Development and Reform Commission and relevant departments have simultaneously promoted the vigorous implementation of cash-for-work in key projects and agricultural and rural infrastructure projects by arranging special investment projects for the central government, and have absorbed a total of 2.45 million low-income people in the first three quarters, a year-on-year increase of 30.2%, and 31 billion yuan of labor remuneration has been paid, a year-on-year increase of 22.7%.

International News

1. The "Trump deal" was questioned, the dollar fell, and U.S. bonds rose

US Treasury futures edged higher as polling data ahead of the U.S. election on Tuesday prompted some investors to scale back on what they called Trump's trade, with the dollar index falling as much as 0.7%, its biggest drop since August. The US dollar fell against both G-10 currencies, with the NOK and AUD appreciating by more than 0.6%. The yen rose 0.7% against the dollar, and the onshore yuan rose 0.6% at one point, its biggest gain since early August.

2. The Monetary Authority of Singapore (MAS) promotes the token of financial services

The Monetary Authority of Singapore (MAS) today announced plans to move forward with token in the financial services sector. These plans include: forming a business network to deepen the liquidity of tokenized assets; developing a market infrastructure ecosystem; nurturing an industry framework for implementing tokenized assets; Achieve access to a common settlement facility for tokenized assets.

3. Japan's new H3 rocket No. 4 was launched

At around 15:48 local time on November 4, Japan's new H3 rocket No. 4 was launched from Tanegashima Space Center in Kagoshima Prefecture. The rocket is equipped with the Japanese Ministry of Defense's military communications satellite "Huang-3". The rocket was originally scheduled to be launched on October 20, but it was postponed four times due to poor weather conditions and other reasons.

4. "Concealing identity" does not work, and the Houthis say that they continue to blockade Israel by sea

Yemen's Houthis said on the 3rd that they do not recognize the change of ownership of assets achieved by Israeli shipping companies through the sale and transfer of assets, and will continue to implement a naval blockade against Israeli-related ships. According to Reuters, Houthi spokesman Yahya said that many Israeli shipping companies are "concealing their identities" by selling assets, transferring shipping vessels to other businesses and registering them under different names, but the Houthis do not acknowledge any changes in ownership of the assets involved. Sareya warned the parties concerned not to cooperate with Israeli businesses or face "punishment".

5. Goldman Sachs: In the past four weeks, global funds have flowed into the Chinese mainland stock market of 24.385 billion US dollars

According to a global fund flow report recently released by Goldman Sachs, in the four weeks ending October 30, global funds had a total net inflow of US$63.628 billion into the stock market, of which US$37.228 billion was a net inflow in US stocks, US$24.385 billion in Chinese mainland stock markets, and US$6.063 billion and US$284 million in Indian stocks were net outflows in Japanese stocks and Indian stocks, respectively. Goldman Sachs expects the Fed to cut interest rates four more times in a row in the first half of 2025, bringing the terminal rate to 3.25%-3.5%, but it believes that there is still a lot of uncertainty about the pace and ultimate goal of next year's rate cuts.

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