China

  • China Bio: On April 1, the Hungarian National Drug Approval and Regulatory Agency officially issued the EU GMP certificate for the new crown inactivated vaccine to the Beijing Institute of Biological Products of Sinopharm Group. This is the first vaccine product in China’s history that has been approved for use in the European Union and has been GMP certified. It is a new step for China’s new crown vaccine to become a global public product.
  • It is estimated that the total traffic of the national expressway network during Tomb-Sweeping Day in 2021 will reach 151 million.

Industry

  • Caulfield, CEO of GlobalFoundries, the world’s third-largest foundry, said that in 2021, it plans to invest 1.4 billion US dollars to build a factory. The investment amount may be doubled next year. The company’s production line is fully loaded, and the entire industry’s semiconductor supply shortage may Continue until 2022 or later.
  • Tencent Research Institute: It is estimated that from 2020 to 2023, the compound annual growth rate of China’s cloud gaming market revenue will reach 135%, far exceeding the global average of 101%. As the most likely scenario for 5G landing applications, cloud gaming has always been favored by all parties in the market.

Trade

  • At present, the “Ever Given” freighter, which has been stranded in the Suez Canal for 6 days, is undergoing technical inspections and related accident investigations in the Great Bitter Lake of the Suez Canal. The Egyptian side stated that it will claim more than US$1 billion for this “ship jam” incident to compensate for the losses caused by the six-day suspension of the canal and related rescue costs. Usama Rabie, chairman of the Suez Canal Authority, stated that the “Ever Given” freighter will not be released until the investigation is over and a settlement is reached on compensation matters. If the compensation matters cannot be settled, they will consider filing a lawsuit.