Industry

  • Affected by factors such as shortage of parts and supply chain obstruction, there is a certain lag in the completion of annual sales of car companies. As of the third quarter, BYD has achieved 79% of its annual sales target, while Tesla still has 40% of its sales target unfinished, and 30% of automakers have achieved less than 50% of their annual sales target.
  • The European Commission, the European Parliament and EU member states have reached an agreement to ban the production of new gasoline-powered vehicles from 2035. The agreement requires EU carmakers to achieve zero-emissions targets by 2035, it also requires the bloc to cut carbon emissions by 55 % over the next decade and set a goal of becoming climate neutral by 2050.

China

  • Ministry of Finance: From January to September, the total operating income of state-owned enterprises was 59,668.24 billion yuan, a year-on-year increase of 9.3%. Among them, central enterprises were 33,385.98 billion yuan, a year-on-year increase of 10.1%; local state-owned enterprises were 26,282.26 billion yuan, a year-on-year increase of 8.3%. From January to September, the total profit of state-owned enterprises was 3,402.18 billion yuan, a year-on-year decrease of 1.1%. Among them, central enterprises were 2,447.47 billion yuan, a year-on-year increase of 5.2%; local state-owned enterprises were 954.71 billion yuan, a year-on-year decrease of 14.1%. At the end of September, the asset-liability ratio of state-owned enterprises was 64.5%, up 0.2 percentage points. Central enterprises were 67.1%, up 0.3 percentage points; local state-owned enterprises were 63.2%, up 0.2 percentage points.
  • Central Bank: At the end of the third quarter, the balance of RMB real estate loans was 53.29 trillion yuan, a year-on-year increase of 3.2%; the balance of real estate development loans was 12.67 trillion yuan, a year-on-year increase of 2.2%; the personal housing loan balance was 38.91 trillion yuan, a year-on-year increase of 4.1%.
  • Ministry of Transport: In the first three quarters, the commercial freight volume was 37.63 billion tons, a year-on-year decrease of 2.0%; the road freight volume was 27.65 billion tons, a year-on-year decrease of 4.4%; the waterway freight volume was 6.29 billion tons, a year-on-year increase of 4.7%. The cargo throughput of ports nationwide was 11.55 billion tons, a year-on-year increase of 0.1%; the container throughput was 220 million TEUs, a year-on-year increase of 4.0%.
  • China Gold Association: In the first three quarters, domestic raw gold production was 269.987 tons, up 14.04% year-on-year.
  • China Banking and Insurance Regulatory Commission: At the end of the third quarter, the total assets of the banking industry were 373.9 trillion yuan, a year-on-year increase of 10.2%. Among them, various loans increased by 10.7% year-on-year. The total assets of the insurance industry were 26.7 trillion yuan, a year-on-year increase of 9.8%. The balance of insurance funds used was 24.5 trillion yuan, a year-on-year increase of 9.3%. The original insurance premium income of insurance companies was 3.8 trillion yuan, a year-on-year increase of 4.9%.
  • China Cotton Information Network: The central reserve cotton enters its 15th week. This week, it plans to purchase 30,000 tons of central reserve cotton through the national cotton trading market, which is the same as the planned purchase volume of the previous week. The actual transaction was 9,800 tons, and the transaction rate was 33%. The weekly average transaction price was 15,813 yuan/ton, down 123 yuan/ton from the previous week.
  • Hangzhou City, Zhejiang Province: The fourth batch of centralized land supply has launched a total of 8 plots, with a transfer area of ​​287,468 square meters and a starting total price of 9.124 billion yuan, and will be sold in a centralized manner on November 29. Among the 8 plots, 1 in Shangcheng District, 3 in Fuyang District, and 4 in Xiaoshan District.
  • In the first three quarters, there were 430 new projects in the PPP integrated information platform management database, with an investment of 693.5 billion yuan. Among them, in the third quarter, there were 151 new projects with an investment of 234.9 billion yuan. As of September, there were 44 new projects with an investment of 101.6 billion yuan.

Company

  • Amazon: In the third quarter, revenue was $127.101 billion, a year-on-year increase of 15%; net profit was $2.872 billion, a year-on-year decrease of 9%. The cloud computing division’s revenue was US$20.5 billion, an increase of only 27.5% year-on-year, the slowest growth rate since 2014.
  • Intel: Revenue in the third quarter was US$15.338 billion, down 20% year-on-year; net profit was US$1.019 billion, down 85% year-on-year. It also announced cost cuts of up to $10 billion from now until 2025.
  • Apple: In the fourth quarter of fiscal year 2022, revenue was US$90.146 billion, an increase of 8% year-on-year; net profit was US$20.721 billion, a year-on-year increase of 0.83%. Greater China revenue was US$15.470 billion, a year-on-year increase of 6%.
  • Vanke: In the first three quarters, revenue was 337.67 billion yuan, a year-on-year increase of 24.4%; net profit was 17.05 billion yuan, a year-on-year increase of 2.2%. The settlement area of ​​real estate development business was 22.615 million square meters, contributing 295.80 billion yuan in operating income, a year-on-year increase of 21.7% and 24.8% respectively.
  • CSG A: Recently, a long-term sales contract for silicon materials has been signed with the customer. The customer is expected to purchase a total of 33,000 tons of solar-grade primary polysilicon materials from the company from 2023 to 2026, and the total sales are expected to be 9.999 billion yuan.
  • iFLYTEK: In the first three quarters, revenue was 12.66 billion yuan, a year-on-year increase of 16.5%; net profit was 420 million yuan, a year-on-year decrease of 42.34%.

World

  • BIS: Trading volumes in global foreign exchange markets jumped to record highs amid heightened volatility. The U.S. dollar continues to dominate, accounting for about 88 percent of all foreign exchange transactions; the euro’s share has fallen to about 31 percent from 32 percent three years ago. The renminbi’s market share increased the most, expanding from 4.3% to 7%, and its ranking rose to 5th from 8th in 2019. Other major currencies such as the Japanese yen and British pound maintained their share of nearly 17% and 13%, respectively.
  • The Japanese government will invest 29.1 trillion yen in state funds for a new economic stimulus plan. Including local governments, fiscal expenditure will be 39 trillion yen; with private sector investment, the total will reach 71.6 trillion yen.
  • South Korea: The government will release vegetable and salt reserves. According to the plan, 5,000 tons of garlic, 1.4 tons of peppers, 3.6 tons of onions and 500 tons of salt reserves will be released from next week.
  • India: A series of flight tests for its first manned spaceflight will begin in February next year. The crew compartment is planned to be tested with a Chinook helicopter and a C-17A transport aircraft. Scientists have completed the design of an environmental control system to ensure the living conditions of the astronauts in the capsule while orbiting the earth.