Trade

  • It is reported that the Indian government has extended sugar export restrictions until October 2023.

Industry China

  • Cui Dongshu, Secretary General of the Passenger Federation: China’s gasoline consumption has fluctuated at a high level since it reached 126.44 million tons in 2018. Gasoline consumption in 2021 is 2-3 percentage points lower than that in 2019 and 2018, and the period from January to August in 2022 is lower than the same period in 2021, reaching 6.4% . According to the development trend of fuel vehicle ownership and the growth trend of new energy sources, domestic gasoline consumption has reached its peak, that is, the carbon peak of passenger cars has been achieved. In the future, the consumption of fuel vehicles should be stabilized to achieve a relatively balanced consumption of gasoline and diesel.
  • According to iiMedia Research, the new youth group spends 27.6% of their monthly interest in consumption. Technology, secondary elements, national trends, and pets are the key consumption circles for new youth.
  • In the Lama Temple on Sunday afternoon, few elderly people can hardly be seen. Looking around, groups of young people are holding burning incense, waiting in line in front of the futon respectfully and reverently, waiting to pay tribute to the Buddha. Confess your wishes. “Worshiping Buddha on weekends” has become a new trend. Young people share on social media the strategies and precautions of temples in various places, the “most spiritual” Bodhisattva in each temple, and the consecrated treasures that seem to be shrouded in the light of Buddha.

China

  • Xinhua News Agency:The State Council’s report on the development of the digital economy was submitted to the 37th meeting of the Standing Committee of the 13th National People’s Congress for deliberation on October 28. The report is clear, firmly grasp the initiative in the development of digital technology, grasp the opportunities of the new round of technological revolution and industrial transformation, and vigorously develop the digital economy.
  • Zhuhai City, Guangdong Province: Zhuhai-Macao port customs clearance measures are tentatively extended for another three months, from 0:00 on November 1, 2022 to 24:00 on January 31, 2023; Zhuhai and Macao customs clearance personnel are limited to entering and leaving Gongbei every day There is a total of one round trip from the port and the Qingmao port, and there is an unlimited number of customs clearance from the Hengqin port, the Wanzai port, and the Hong Kong-Zhuhai-Macao Bridge port.
  • Hainan Provincial Department of Commerce: Driven by the opening of Haikou International Duty Free City, the total sales of 11 duty-free shops on outlying islands in Hainan exceeded 700 million yuan on October 28, setting a new record for single-day sales of duty-free shops and nearly 2 times the historical high.
  • China Securities Journal: Recently, loans for equipment renovation and renovation have been intensively implemented in various places. Up to now, CDB Infrastructure Investment Fund, Agricultural Development Infrastructure Fund and Jinyin Infrastructure Fund have invested 360 billion yuan, 245.9 billion yuan and 68.4 billion yuan respectively. According to the industry, supporting equipment renovation will effectively expand the market demand of the manufacturing industry, and at the same time form an effective support for the new RMB loans in the fourth quarter.

Company

  • Hengchi Auto: The first batch of Hengchi 5 vehicles was officially delivered, a total of 100 units.

World

  • A study published in the American journal Science Advances shows that in the past few decades, heatwaves exacerbated by climate change have cost the global economy trillions of dollars, with poor countries being the heaviest and exacerbating the global gap between the rich and the poor. Between 2022 and 2026, there is a 50% chance that the global average annual temperature will temporarily increase by 1.5 degrees Celsius above pre-industrial levels, and this probability increases over time.
  • European Central Bank: The euro zone economy will show negative growth in the next three quarters, with a cumulative decline of 0.7%.
  • It is reported that the United States plans to temporarily not impose price caps on Russian oil before the mid-term elections on November 8.
  • United States: Affected by reduced precipitation, water levels in parts of the Mississippi River in the United States have dropped significantly. The water level in the section of the river that flows through New Orleans, Louisiana, is only 60 centimeters, the lowest level since 2012. The Mississippi River is the main route for the transportation of agricultural products in the United States, and it undertakes more than half of the grain transportation in the United States. However, due to the low water level, barge transportation has been affected, which has directly led to a recent decrease in the cargo volume of the Mississippi River by about 45%.
  • Hungary: On October 28, local time, the Hungarian Post Office announced the temporary closure of 366 business offices to reduce energy consumption, and stated that the closure does not involve layoffs. About 740 employees affected by this will be relocated to other business offices nearby.