1. Important macro news and events:
US President Biden announced the latest sanctions against Russia and decided to implement comprehensive blockade sanctions against two large Russian Financial Institutions - the Russian state-owned Development Bank (veb) and the military bank. Russia will not be able to conduct lending transactions in the US and European markets or raise funds. In addition, Biden also announced sanctions against Russia's sovereign debt, Russia's elite and their families, and said that he would no longer promote the "beixi-2" project in cooperation with Germany.
The economic operation Bureau of the national development and Reform Commission held a video conference on stabilizing coal price on the 22nd. The conference mainly focused on the current coal market price, studying and standardizing coal market transactions and stabilizing coal price market. Previously, on February 9, the national development and Reform Commission held a special meeting on stabilizing coal prices to interview some enterprises with falsely high prices.
Finance Minister Liu Kun said that on the basis of 1.1 trillion yuan last year, more large-scale tax cuts and fee reductions will be implemented this year, and market players will have more sense of gain. Maintain appropriate expenditure intensity and improve expenditure accuracy.
The initial PMI value of Markit service industry in the United States in February recorded 56.7, higher than the expected 53; The initial PMI of Markit manufacturing recorded 57.5, higher than the expected 56. Chris Williamson, an economist at IHS Markit, said demand has recovered and supply constraints, including parts supply and staff shortages, have eased.
