Overseas:
1. The European Commission announced the chip act, which plans to significantly increase the EU’s share of global chip production. According to the act, the EU will invest more than 43 billion euros in public and private funds to support chip production, pilot projects and start-ups. By 2030, the EU plans to increase its share of global chip production from the current 10% to 20%.
2. The U.S. Department of Commerce announced that from April 1 this year, the United States will replace the arrangement of levying 25% tariff on Japanese steel products exported to the United States with tariff quota system under Article 232.
3. The Central Bank of Poland raised the benchmark interest rate from 2.25% to 2.75%, which is in line with market expectations.
4. The US trade account deficit in December was US $80.7 billion, with an expected deficit of US $83 billion. The previous deficit of US $80.2 billion was revised to US $79.33 billion.
5. Canada’s trade account deficit in December was 137 million Canadian dollars, and the previous value surplus was 3.13 billion Canadian dollars, which was revised to a surplus of 2.47 billion Canadian dollars.
China:
1. The State Council approved the establishment of cross-border e-commerce comprehensive pilot zones in 27 cities and regions such as Inner Mongolia Eerduosi Resources Co.Ltd(600295) city and Yangzhou city.
2. In response to the US Ministry of Commerce’s inclusion of 33 Chinese entities in the “unverified list” of export control, the Ministry of Commerce said that the US side included Chinese entities in the “unverified list” on the grounds that “their integrity cannot be verified due to the unsatisfactory completion of end-user visits”. China firmly opposes it. The United States should immediately correct its wrong practices, return to the right track of win-win cooperation, and work with the international community to make more contributions to the stability of the global industrial chain, supply chain and world economic recovery.
3. The central bank launched a 7-day reverse repurchase operation of 20 billion yuan on February 8. On that day, 150 billion yuan of reverse repurchase expired, so a net return of 130 billion yuan was made.
4. According to the VAT invoice data of the State Administration of Taxation, during the Spring Festival, the national physical consumption increased by 20.1% over last year’s Spring Festival. Among them, the “Spring Festival does not close” and other activities launched by major e-commerce have driven the rapid growth of online consumption, and Internet retail increased by 37.7% year-on-year.
