October 31st Macroeconomic Index: China's Imports and Exports in Free Trade Zones Surge, Digital Yuan to Be Used in Aviation Settlement

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Domestic News

1. The Ministry of Industry and Information Technology and other three departments issued the "Overall Construction Plan for New Material Big Data Center"

2. Experts: There is still room for policies to stabilize real estate

3. General Administration of Customs: Imports and exports in the national pilot free trade zone increased by 11.99% in the first three quarters

4. The gas transmission volume of the Shanxi-Beijing pipeline exceeded 700 billion cubic meters

5. The third phase of the 136th Canton Fair will be launched tomorrow, with 11,703 exhibitors

 International News

1. Israeli officials said that a senior adviser to the US president will visit Israel and submit a proposal for a ceasefire between Lebanon and Israel

2. Transport Canada lifts restrictions on Chinese mainland airlines

3. The 8th "Future Investment Initiative Conference" was opened, focusing on the global economy and the situation in the Middle East

4. The IATA aviation industry financial settlement system will be the first to use digital yuan

5. Brazil's Foreign Minister called on the United States to lift the economic embargo against Cuba

Domestic News

1. The Ministry of Industry and Information Technology and other three departments issued the "Overall Construction Plan for New Material Big Data Center"

The plan mentions that the goal is that by 2027, the ability to gather data resources and the vitality of circulation in the field of materials will be significantly enhanced. Build a "1+N" new material big data center architecture system (1 main platform of new material big data center and N data resource nodes). Explore the formation of a stable operation model led by public welfare services and market-oriented operation. More than 30 data resource nodes, more than 30 material big data algorithm software and tools, and more than 20 typical key materials and products have been formed.

2. Experts: There is still room for policies to stabilize real estate

In the opinion of experts, the current real estate market is still in the process of bottoming out, and active policies may continue to increase, and the real estate market should have confidence and patience to stop falling and welcome stabilization. Zhang Yu, Deputy Director and Chief Macro Analyst of Huachuang Securities Research Institute, believes that with reference to the experience of the substantial increase in the issuance scale of corporate bonds of real estate enterprises in 2015, real estate enterprises may be further relaxed in direct financing in the future. As far as the "white list" is concerned, Li Yujia, chief researcher of the Guangdong Provincial Housing Policy Research Center, said that in order to completely break through the blockage of the "white list" projects from credit to financing, it is necessary to increase the repair of some "problem projects" and promote banks to "dare to lend and be able to lend"; At the same time, it is also necessary to ensure that compliance projects are "fully loaned", and further expand the actual scale of credit for real estate "whitelist" projects.

3. General Administration of Customs: Imports and exports in the national pilot free trade zone increased by 11.99% in the first three quarters

According to the statistics of the General Administration of Customs, the total import and export value of the national pilot free trade zone reached 6.09 trillion yuan in the first three quarters, a year-on-year increase of 11.99%. Among them, exports were 2.74 trillion yuan, a year-on-year increase of 16.10%; imports were 3.35 trillion yuan, a year-on-year increase of 8.83%.

4. The gas transmission volume of the Shanxi-Beijing pipeline exceeded 700 billion cubic meters

The State Pipeline Network Group announced on the 30th that the cumulative gas transmission volume of the Shaanxi-Beijing pipeline system exceeded 700 billion cubic meters, injecting "green kinetic energy" into the high-quality development of Beijing-Tianjin-Hebei, Shaanxi-Jinmeng. Tang Shanhua, Chairman of the Beijing Pipeline Company of the State Pipeline Network Group, introduced that the Shaanxi-Beijing pipeline system is composed of Shaanxi-Beijing first, second, third and fourth lines, Yongtang-Qin line, Tangshan liquefied natural gas receiving station, Datang coal-to-gas pipeline, etc., and has built "five major channels into Beijing" and the layout of the pipeline network around Beijing, with a total mileage of more than 5,500 kilometers and an annual gas transmission capacity of 80 billion cubic meters.

5. The third phase of the 136th Canton Fair will be launched tomorrow, with 11,703 exhibitors

The third phase of the 136th Canton Fair will be held in Guangdong from tomorrow (October 31) to November 4. This exhibition will focus on toys and maternity, infant and children, fashion, home textiles, etc., with 11,703 exhibitors. This edition of the exhibition will also hold industry-themed new product launches, industry trends and design innovation forums. As of the third phase, a total of 673 trade promotion activities have been held at this Canton Fair, an increase of more than 25% over the previous session.

International News

1. Israeli officials said that a senior adviser to the US president will visit Israel and submit a proposal for a ceasefire between Lebanon and Israel

On October 30, local time, an Israeli official said that Brett McGurk and Amos Hochstein, senior advisers to US President Biden, would travel to Israel on the same day and meet with Israeli Prime Minister Benjamin Netanyahu and other senior officials to discuss the ceasefire between Israel and Hezbollah Lebanon. It is reported that the two will put forward a formal ceasefire proposal and expect to reach a ceasefire agreement within a few weeks.

2. Transport Canada lifts restrictions on Chinese mainland airlines

The Canadian Transport Agency announced on its website on the 28th local time that on October 24, the Minister of Transport of Canada, under the instructions of the Minister of Foreign Affairs, revoked the restrictions issued on February 3, 2022, such as "Chinese mainland airlines flying to Canada a total of no more than six round-trip scheduled passenger flights per week" and "prohibiting direct passenger flights from Beijing to Canada". From October 25, 2024, restrictions on Air China, Capital Airlines, China Eastern Airlines, China Southern Airlines, Hainan Airlines, Sichuan Airlines, Xiamen Airlines, etc. will be removed.

3. The 8th "Future Investment Initiative Conference" was opened, focusing on the global economy and the situation in the Middle East

On October 29, local time, the 8th "Future Investment Initiative Conference" opened in Riyadh, the capital of Saudi Arabia. The theme of this conference is "Infinite Horizons: Investing Today, Shaping Tomorrow". With more than 500 speakers and more than 200 main, breakout and closed-door sessions, the conference will focus on new strategies to address global challenges such as economic stability, equitable development, climate change, artificial intelligence, geopolitical conflicts, unleashing investment potential, and advancing sustainable development.

4. The IATA aviation industry financial settlement system will be the first to use digital yuan

It was learned from the International Air Transport Association that it will provide digital currency in the financial settlement system of the aviation industry. Among them, the digital yuan will be included in China's BSP by the end of 2024 as the first digital currency, which will promote the internationalization of the digital yuan in the global aviation industry, especially in the field of B2B applications.

5. Brazil's Foreign Minister called on the United States to lift the economic embargo against Cuba

On October 29, local time, Brazilian Foreign Minister Patrick Vieira delivered a speech at the United Nations headquarters, calling on the United States to lift the economic blockade against Cuba. Vieira said that the severe sanctions imposed by the United States on Cuba are unjustifiable, and that the crisis in Cuba has been further exacerbated by the blockade and the inclusion of Cuba in the list of 'state sponsors of terrorism'. Those measures had unjustly punished the Cuban people and were now hindering humanitarian relief to the Cuban hurricane disaster. Hurricane Oscar has killed at least seven people in Cuba and caused nationwide power outages.

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