Macroeconomy
1. Xinhua News Agency: On April 20, the 2025 China Internet Entrepreneurs Symposium was held in Beijing. It aims to comprehensively accelerate the modernization of the industry, support the digital, networked, and intelligent transformation and upgrading of industries, and provide strong impetus for promoting new - type industrialization and cultivating new - quality productivity. Efforts will be made to achieve more leading breakthroughs in original technologies, frontier technologies, and disruptive technologies.
2. China Daily: China recently announced the implementation of export controls on seven types of medium - and heavy - rare - earth - related items. Foreign media believe that this measure may deal a "major blow" to the United States. CNN claims that this is an area where China has absolute advantages over the United States. China's export control of heavy rare earths may directly lead to the interruption of the US defense supply chain, thus shaking the foundation of the US defense industry.
3. CCTV News: On April 19, local time, protest activities were held in many US cities, including New York and Washington. People protested against the Trump administration's violations of civil rights and constitutional rights, including expelling a large number of immigrants, reducing the scale of the federal government by dismissing many government employees and effectively closing down multiple institutions.
4. Xinhua News Agency: New research shows that global warming has led to a sharp increase in extreme marine heatwaves. Now, the average number of days of extreme high temperatures on the global ocean surface per year is more than three times that of 80 years ago. A marine heatwave refers to a phenomenon in which the water temperature on the ocean surface is much higher than the normal level for a period of time.
5. CCTV News: According to foreign media reports, dozens of economists, including two Nobel laureates, have signed an "anti - tariff manifesto" to criticize the tariff policies of US President Trump and warn that it is urgent to cancel the "incoherent and destructive policies" of the Trump administration in trade.
6. Ukrainian President Zelensky: On April 20, local time, according to the front - line situation report of the Ukrainian Armed Forces Commander - in - Chief as of 12:00 on that day, since 10:00, the number of Russian artillery shelling and attack drone uses has increased, and the number of first - person - view drone uses has doubled. The Ukrainian side has recorded the Russian side's violation of the cease - fire commitment during Easter and urged to put pressure on the Russian side to achieve a 30 - day comprehensive cease - fire.
Stock Market Review
1. Last Friday, the Shanghai Composite Index closed down 0.11%, at 3,276.73 points, with a weekly increase of 1.19%; the Shenzhen Component Index closed up 0.23%, at 9,781.65 points, with a weekly decrease of 0.54%; the ChiNext Index closed up 0.27%, at 1,913.97 points, with a weekly decrease of 0.64%.
2. Last Thursday, the Hang Seng Index closed up 1.61%, at 21,395.14 points, with a weekly increase of 2.30%; the Hang Seng Tech Index closed up 1.90%, at 4,887.37 points, with a weekly decrease of 0.27%; the Hang Seng China - Enterprises Index closed up 1.52%, at 7,897.44 points, with a weekly increase of 1.23%.
3. The Shanghai Stock Exchange: It held a symposium on the commercial space industry and had in - depth exchanges with 10 leading enterprises in the fields of commercial rockets and commercial satellites. It will give full play to the functional advantages of large - cap blue - chip stock agglomeration, leading hard - technology, multi - product support, and precise services to fully support the accelerated development of key areas of new - quality productivity such as commercial space.
4. Yicai Global: In April, there has not been a single IPO enterprise whose review has been terminated on the Shanghai, Shenzhen, and Beijing stock exchanges. Since the beginning of this year, only 47 enterprises have had their reviews terminated, a year - on - year decrease of 61%, reaching a new low in recent years. The zero - termination phenomenon of IPOs reflects the positive changes in the market, indicating that the IPO market is developing in a stable and healthy direction.
5. The Shanghai Stock Exchange: It issued a regulatory work letter to urge ST Xinchao to fulfill the relevant information disclosure obligations of the competitive tender offer in accordance with the regulations. Recently, Inner Mongolia Yitai Coal Co., Ltd. has issued a partial offer to the company's shareholders, and this tender offer will constitute a competitive tender offer.
6. Liansheng Technology: It plans to acquire 69.71% of the shares of Xingchu Century, and the stock will resume trading on April 21.
7. Hongda New Material: The auditor believes that the company's 2024 financial accounting report will be issued with an audit opinion with a paragraph of material uncertainty related to going concern. The company's stock trading may be subject to other risk warnings.
8. Han's CNC: It plans to issue H - shares and list on the main board of the Hong Kong Stock Exchange. At present, the company is actively discussing the relevant work of this issuance and listing with the relevant intermediary institutions, and the specific details have not been determined.
9. Shenghe Resources: The suspension of rare - earth - concentrate exports to China by MP Company will not have a significant impact on the company's production and operation.
10. ChangYao Holdings: It will be subject to delisting risk warnings and other risk warnings from April 22, and the stock abbreviation will be changed to "ST ChangYao".
11. Tianfu Communication: In 2024, its operating income was 3.252 billion yuan, a year - on - year increase of 67.74%; the net profit was 1.344 billion yuan, a year - on - year increase of 84.07%. It plans to transfer 4 shares for every 10 shares and distribute a cash dividend of 5 yuan (including tax).
Wealth Focus
1. China Fund News: As of April 19, 10 rolling - holding - period bond funds have been established this year, with a total establishment scale of 5.003 billion yuan, both reaching record highs in the same period. The industry believes that in the context of low interest rates and increased interest - rate volatility, medium - and short - duration portfolios can resist volatility, and the allocation value of short - bond - like assets with the combination of "bond funds + rolling holding" is highlighted.
2. China Business Journal: With the increasing discussion on topics related to borrowing to buy gold, recently, many banks have centrally issued statements that credit card funds cannot be used for gold investment. Experts say that the price of gold fluctuates greatly. If investors buy gold at a high price and the price then drops sharply, it may lead to losses in investment principal.
3. China News Service: This year's Labor Day holiday will be adjusted for a total of 5 days: from May 1 (Thursday) to May 5 (Monday), and April 27 (Sunday) will be a working day. From 0:00 on May 1 to 24:00 on May 5, all toll roads will be exempt from tolls for small passenger cars. Normal toll collection will resume at 0:00 on May 6.
Industry Observation
1. The National Energy Administration: As of the end of March, the total installed power generation capacity in China was 3.43 billion kilowatts, a year - on - year increase of 14.6%. Among them, the installed capacity of solar power generation was 950 million kilowatts, a year - on - year increase of 43.4%; the installed capacity of wind power was 540 million kilowatts, a year - on - year increase of 17.2%.
2. Cui Dongshu, the secretary - general of the China Passenger Car Association: In 2025, automobile exports have reached a super - high level, and automobile parts have also reached a record - high level, both showing a strong growth trend. Among them, the export growth of motorcycles is very strong. The export of lithium - ion batteries basically remains at a monthly stable level of $5 billion.
3. CCTV Finance: With the rise of AI software such as DeepSeek, computer computing power has received much attention. To control costs, many technology companies choose to rent high - performance computer equipment instead of buying it. Forecasts show that by 2026, the potential income market scale of China's computing - power leasing is expected to reach 260 billion yuan.
4. Caixin: On April 19, at the 15th Beijing International Film Festival Industry Forum, in the face of the super - high box office of Ne Zha: The Rebirth of the Demon Child, the industry reflected on the current market downturn. Only four movies have broken through 100 million yuan in box office after the Spring Festival, and the Qingming Festival box office has dropped by 56% year - on - year. Problems such as a shortage of movies in the market and a decrease in the number of movie - goers are prominent.
5. CCTV Finance: In the first quarter, the export value of Yunnan coffee and coffee products was 310 million yuan, a year - on - year increase of 122.1%. With the improvement of technology, Yunnan's high - quality coffee beans have gradually become well - known. In Japan, from the counter in Tokyo's shopping malls to the cafes in Osaka, Yunnan coffee has become a new choice for local consumers.
6. CCTV International News: The recent tariff policies of the US government have impacted the old - established automobile enterprises. Ford said that if the policies continue, the price of cars in the US may increase this summer; the three most popular non - US - made models of Buick under General Motors will also face price increases due to tariffs.
7. Huanqiu: Due to the continuous increase in the price of rice in Japan, more and more Japanese consumers buy low - price rice when they travel to South Korea and bring it back. The price of a 5 - kilogram bag of rice in South Korean supermarkets is only about half of that in Japan. There are also people sharing their experiences of bringing back rice from South Korea on social platforms, and some people bring back up to 20 kilograms of rice at a time.
8. CCTV News: The US tourism industry has always maintained a huge trade surplus with other countries and regions in the world. However, the tariff policies combined with negative factors are impacting the US tourism industry. The Washington Post said that the number of foreign tourists visiting the US in March decreased by nearly 12% year - on - year, the largest decrease since the COVID - 19 pandemic.
Company News
1. China - New Economy: The Tiangong 2.0 robot is about to be sold and will achieve small - batch production and application. Tang Jian, the CTO of the Tiangong Team and the Beijing Humanoid Robot Innovation Center, said that in the future, with the large - scale landing of humanoid robots, their price will be similar to that of an entry - level car.
2. IT Home: Recently, some ChatGPT users have found that this chatbot will directly address users by their names during interaction, even if the users have not disclosed their names. This change in the non - default setting has caused negative reactions, and some users have said it is "creepy and unnecessary". The reason is currently unknown, and OpenAI has not responded.
3. National Business Daily: In the first quarter, Tesla's sales data in Europe plummeted across the board, with the declines in Germany, Denmark, and Sweden exceeding 50%. At the same time, the market performance of Tesla's electric pickup truck Cybertruck is sluggish, and the production capacity of the Texas Super Factory has been significantly reduced. In the Chinese market, the wholesale sales volume has decreased by 21.8% year - on - year.
Global Perspective
1. The South Korean Ministry of Labor: It has approved the special working - hour application of the semiconductor system department of Samsung Electronics. In the next three months, R&D personnel can work up to 64 hours per week, and it will be adjusted to 60 hours in the following three months. Previously, the legal maximum working hours per week in South Korea were 52 hours. Now, the regulations have been revised, and certified enterprises can apply for an extension of the overtime limit.
2. Yuyuantan Tian: From April 21, the global express delivery company DHL will suspend the delivery of e - commerce goods with a declared customs value of more than $800 to individuals in the US. Due to the change in US customs regulations, the customs declaration volume of such goods has surged, and they will face transportation delays of several days.
3. Han Duck - soo, the acting president of South Korea: South Korea will not retaliate against the US tariffs. South Korea has a historical debt and is willing to remove trade barriers before the talks with Washington.
Financial Data
1. Last Friday, the onshore Renminbi (RMB) against the US dollar closed at 7.3039 at 16:30, down 0.0808%, with a weekly increase of 0.2812%. The central parity rate of the RMB was set at 7.2069, up 0.0222%, with a weekly increase of 0.0250%.
2. New Third Board: Last week, 8 new companies were listed on the New Third Board. The trading volume amounted to 1.049 billion yuan, a month-on-month decrease of 1.25%. Up to now, the total number of listed companies on the New Third Board has reached 6,089.
3. Shanghai Environment and Energy Exchange: Last week, the trading volume of listed agreement transactions of carbon emission allowances in the national carbon market was 698,900 tons, with a total transaction value of 57.233 million yuan. The closing price was 80.38 yuan per ton, down 5.79% for the week.
4. US Stocks: Last Thursday, the Dow Jones Industrial Average fell 1.33% to 39,142.23 points, down 2.66% for the week; the S&P 500 Index rose 0.13% to 5,282.7 points, down 1.50% for the week; the Nasdaq Composite Index fell 0.13% to 16,286.45 points, down 2.62% for the week.
5. Europe: Last Thursday, the German DAX30 Index fell 0.49% to 21,205.86 points, up 4.08% for the week; the French CAC40 Index fell 0.6% to 7,285.86 points, up 2.55% for the week; the UK's FTSE 100 Index remained unchanged, closing at 8,275.66 points, up 3.91% for the week.
6. Gold: Last Thursday, COMEX gold futures fell 0.15% to $3,341.3 per ounce, up 2.98% for the week.
7. Crude Oil: Last Thursday, WTI May crude oil futures rose 3.54% to $64.68 per barrel, up 4.8% for the week. Brent June crude oil futures rose 3.20% to $67.96 per barrel, up 4.9% for the week.