September 18th Macroeconomic Index: China's Visitor Arrivals to Hong Kong Reach New Monthly High, RRR Cuts Expected

Latest Global Major Index

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

Domestic News

1. Experts: 5% maybe the lower limit of the current deposit reserve rate

2. The main account of Sanzhiyang on Chinese TikTok was suspended, and the daily sales plummeted by more than ninety percentage

3. The preliminary statistics of visitor arrivals to Hong Kong in August reached nearly 4.5 million, a new monthly high since the full resumption of customs clearance

4. Recently, the People's Bank of China has released a positive signal that there is still room for RRR cuts

5. Hong Kong stocks continued to climb driven by optimism

 International News

1. The General Assembly will vote on a draft resolution calling for an end to the occupation

2. Foreign media: The operation to detonate the Lebanon pager was passed during a cabinet meeting chaired by Netanyahu

3. Musk's investment in supporting the Republican candidate is expected to have an important impact on the ownership of control of the House of Representatives

4. Lebanon occurred 9 dead and 2750 wounded. Israeli media: Israel's Mossad installed high explosives on pagers

5. Jordan will host a meeting of the Arab-Islamic Ministerial Committee to discuss the situation in Gaza

Domestic News

1. Experts: 5% maybe the lower limit of the current deposit reserve rate

The People's Bank of China recently released a positive signal that there is still room for RRR cuts. Industry experts said that the People's Bank of China will continue to adhere to supportive monetary policies and more effectively support high-quality economic development. In order to better maintain reasonable and abundant liquidity and guide banks to enhance the stability and sustainability of loan growth, monetary policy may increase counter-cyclical adjustment, and the new RRR cut is expected to be implemented within this year. From the perspective of space, Wang Qing, chief macro analyst of Oriental Jincheng, said that considering that in the previous RRR cuts, some corporate financial institutions that have implemented the 5% deposit reserve ratio have not cut the RRR, which may mean that 5% is the lower limit of the current deposit reserve ratio, so there is still room for 2 percentage points of RRR cuts.

2. The main account of Sanzhiyang on Chinese TikTok was suspended, and the daily sales plummeted by more than ninety percentage

On the evening of September 17, the "Sanzhiyang Network", which was previously broadcast daily, did not start the live broadcast, and some of its accounts were still broadcasting, such as "Fengkuang Sanzhiyang", "Fengkuang Yangxiaoyang", etc. Chanmama shows that in the past 30 days, except for today, the "Sanzhiyang Network" has been broadcast live every day, with an average of 1.651 million daily viewers and an average daily sales of 1 million to 2.5 million. Sales peaked at $7.5 million to $10 million on September 1, and then gradually declined, with sales of $100,000 to $250,000 on the 16th. Judging from the numerical value, it plummeted by more than ninety percent in half a month.

3. The preliminary statistics of visitor arrivals to Hong Kong in August reached nearly 4.5 million, a new monthly high since the full resumption of customs clearance

On September 17, the Hong Kong Tourism Industry Strategy Committee held its second meeting on the 16th. At the meeting, Yang Runxiong, Director for Culture, Sports and Tourism of the Hong Kong SAR Government, said that the preliminary statistics of visitor arrivals to Hong Kong in August this year were close to 4.5 million, an increase of more than 9% year-on-year, and a new monthly high since the full resumption of travel in February last year. In the first eight months of this year, more than 29.5 million visitor arrivals were recorded, an increase of 40% year-on-year, of which about 23 million were from the Mainland and 6.5 million from non-Mainland visitors, representing a year-on-year increase of about 39% and 63% respectively.

4. Recently, the People's Bank of China has released a positive signal that there is still room for RRR cuts

According to an article on the home page of the China Securities News, the People's Bank of China has recently released a positive signal that there is still room for RRR cuts. Industry experts said that the People's Bank of China will continue to adhere to supportive monetary policies and more effectively support high-quality economic development. In order to better maintain reasonable and abundant liquidity and guide banks to enhance the stability and sustainability of loan growth, monetary policy may increase counter-cyclical adjustment, and the new RRR cut is expected to be implemented within this year.

5. Hong Kong stocks continued to climb driven by optimism

Hong Kong stocks continued to climb on the back of optimism. Hong Kong's Hang Seng Index closed up 1.37% at 17,660.02 points, recording six consecutive positive days, the Hang Seng Tech Index rose 1.12% to 3,536.57 points, the Hang Seng China Enterprises Index rose 1.41% to 6,176.03 points, and the market turnover was 63.078 billion Hong Kong dollars. Most of the popular technology stocks rose, with Xiaomi Group, Meituan, and Alibaba strengthening. Domestic bank stocks were strong, Bank of Communications, Postal Savings Bank, China Merchants Bank, Industrial and Commercial Bank of China, Bank of China, etc. have risen. Midea Group's Hong Kong stock closed up 7.85% on the first day of listing.

International News

1. The General Assembly will vote on a draft resolution calling for an end to the occupation

On September 17, local time, the 10th emergency special session of the United Nations General Assembly resumed to debate a draft resolution of the United Nations General Assembly proposed by Palestine focusing on the implementation of the advisory opinion of the International Court of Justice. The draft calls on Israel to end its illegal presence in the Occupied Palestinian Territory within 12 months, and lists other elements that are called upon by United Nations Member States and the United Nations to follow. The draft resolution is scheduled to be put to a vote at 11 a.m. local time on September 18, or 11 p.m. Beijing time tonight. At present United States Permanent Representative to the United Nations has made it clear that he will vote against. However, the permanent members of the Security Council do not have a veto in a vote in the General Assembly. However, General Assembly resolutions are also not legally binding. Fu Cong, China's permanent representative to the United Nations, said in a speech at a meeting on the afternoon of September 17 local time, Beijing time, in the early hours of this morning that China will vote in favor of the vote.

2. Foreign media: The operation to detonate the Lebanon pager was passed during a cabinet meeting chaired by Netanyahu

According to the AXIOS website, according to people familiar with the matter, earlier this week, Israel Prime Minister Benjamin Netanyahu and his senior cabinet members and heads of security services approved the operation to detonate Lebanon pagers at a security meeting. A person familiar with the matter said Israel was carrying out the operation to bring a new phase in the fight against Allah while still trying to avoid escalating into a full-scale war. Sources said Israel's actions were aimed at undermining Allah's confidence and creating a feeling of complete infiltration by Israel's intelligence services in the group. Israel intelligence reportedly assessed before the operation that Allah might launch a large-scale retaliatory attack against Israel.

3. Musk's investment in supporting the Republican candidate is expected to have an important impact on the ownership of control of the House of Representatives

On September 18, Musk's super political action committee is spending $2.1 million to support Republican candidates in swing districts across the United States, which may help the world's richest man build a group of allies in the United States Congress. The Committee's support could be key to determining whether Republicans can retain their House majority after the November elections. A new federal filing details the latest spending, and it's the first major effort by the super PAC that Musk established earlier this year to influence elections outside of the presidential race.

4. Lebanon occurred 9 dead and 2750 wounded. Israeli media: Israel's Mossad installed high explosives on pagers

On September 18, according to the Israel Times, citing Sky News Allah edition, a new report said that the Israel Intelligence Agency Mossad allegedly intercepted a batch of new pagers delivered by the Lebanon Allah Party a few months ago and installed explosives on these pagers, thus launching a shocking attack on the Lebanon group on Tuesday. This high-explosive substance is known to be pentaerythritol tetranitrate (PETN). Some people added that the devices were detonated by an external source, causing the battery temperature to overheat (triggering an explosion). It is reported that the explosion of the pager has killed 9 and injured 2750, and the Iran ambassador was slightly injured.

5. Jordan will host a meeting of the Arab-Islamic Ministerial Committee to discuss the situation in Gaza

On September 18, the Ministry of Foreign Affairs and Expatriate Affairs of Jordan announced that Jordan will host a meeting of the Arab-Islamic Ministerial Committee on September 18. During the meeting, the Committee will coordinate joint Arab and Islamic actions to discuss how to take action during the high-level meeting of the 79th session of the UN General Assembly in New York this month to stop Israel attacks on the Gaza Strip, respond to humanitarian disasters, ensure adequate humanitarian assistance to the Gaza Strip, end the serious escalation of Israel in the West Bank of the Jordan River, and prevent further escalation in the region.

Domestic Macro Economy Index