1. Important macro news and events:
During their inspection in Yunnan, the leaders of the State Council stressed the need to effectively coordinate the epidemic prevention and control and economic and social development, increase the relief of market players, promote reform and opening up, stabilize employment, stabilize prices, ensure people’s livelihood, and maintain economic operation within a reasonable range. Stable energy supply is an important support for ensuring development and stabilizing prices. This year, we should resolutely put an end to switching off and limiting electricity.
The national development and Reform Commission issued a document saying that under the background of the sharp rise in global commodity prices and high international inflation, the rise of China’s PPI continued to fall, and the results were hard won, which fully demonstrated the effectiveness of ensuring supply and stabilizing prices. Looking forward to the later stage, as the effect of the policy of ensuring supply and stabilizing price continues to appear, the increase of China’s PPI is expected to continue to decline.
In the first half of May, the power consumption of Industrial Enterprises above Designated Size in Shanghai returned to 80.5% of the level in the same period last year. The daily container throughput of Shanghai port has returned to 90% of the normal, the daily cargo throughput of Pudong Airport has returned to 70%, and the freight vehicles entering and leaving Shanghai through the provincial boundary crossing of expressway have returned to two-thirds of the normal.
Han Zheng, vice premier of the State Council, stressed at the meeting of the central leading group for the supervision of ecological and environmental protection that we should focus on realizing the synergy of pollution reduction and carbon reduction, promote the comprehensive green transformation of economic and social development, improve the level of resource intensive and economical utilization, and steadily and orderly promote carbon peak and carbon neutralization. We should complete the demarcation of the national “three zones and three lines” with high quality, delimit and strictly abide by the red line of ecological protection, strengthen the protection of biodiversity, improve the quality and stability of ecosystem and maintain the safety of ecological environment.
In late New York trading, the dollar index fell 0.99% to 102.89, a two-week low; Non US currencies generally rose. The euro rose 1.22% to 1.0588 against the US dollar, the pound rose 1.06% to 1.2470 against the US dollar, the Australian dollar rose 1.41% to 0.7053 against the US dollar, the US dollar fell 0.34% to 127.80 against the yen, the US dollar fell 1.56% to 0.9728 against the Swiss franc, and the offshore RMB rose 550 basis points to 6.7287 against the US dollar.
