Trade

  • Bloomberg: India considers scrapping 40% wheat import tax to make buying food from overseas more attractive

Industry

  • Researchers at Arizona State University in the United States carried out a new analysis of small spots on meteorites in the solar system, and calculated that the age of the solar system is 4.5684 billion years old, not 4.5673 billion years as previously thought, which shows that the solar system is “old” by 1.1 million years.
  • Maersk: Global container trade could shrink by as much as 4% this year, compared to a previously expected 2.5% decline.

Industry-China

  • IDC: China’s low-code (低代码) and zero-code(零代码) market demand will continue to rise. It is estimated that China’s low-code and zero-code software market will reach 3.47 billion yuan in 2023, a year-on-year increase of 32.4%. It is estimated that the market size will reach 10.63 billion yuan by 2027, and the market CAGR will be 32.3% in the next five years.
  • China Automobile Dealers Association: In the fourth week of July, the average daily transaction volume in the used car market was 60,700, a month-on-month increase of 3.27%, which was the same as the same period in June.
  • China Securities Network: As of the end of July, the total installed capacity of new energy in the operating area of China Southern Power Grid exceeded 100 million kilowatts for the first time, reaching 103.32 million kilowatts, and the installed capacity accounted for 25%. The region’s new energy power generation capacity was 87.5 billion kwh, a year-on-year increase of 37.4%, and the utilization rate of new energy exceeded 99.9%.
  • SiliconChina: Domestic industrial silicon prices remained stable this week. Among them, the mainstream price of metallurgical grade industrial silicon(冶金级工业硅) is 12,600-14,000 yuan/ton, and the mainstream price of chemical grade industrial silicon(化学级工业硅) is 13,400-15,000 yuan/ton. On the futures market, the price of the main contract industrial silicon(主力合约工业硅) 2309 fluctuated within a narrow range. The closing price on August 2 was 13,730 yuan/ton, a year-on-year increase of 3.04%.

China

  • The Ministry of Finance and the Ministry of Water Resources: In response to the recent damage to water conservancy facilities in the Beijing-Tianjin-Hebei region affected by the typhoon “Du Surui”, an emergency allocation of 450 million yuan in water conservancy disaster relief funds from the central government was issued to support the three provinces in seizing the critical period of “seven downs and eight ups” for flood control , and fully support the disaster-stricken areas in carrying out related work such as the restoration of dams, reservoirs, culverts, pumping stations, river projects and other water-damaged water conservancy facilities.
  • SAFE: In the second quarter, the current account had a surplus of 455.4 billion yuan. In the capital and financial accounts, direct investment assets increased by 274.1 billion yuan, liabilities increased by 33.2 billion yuan; reserve assets increased by 113.9 billion yuan. In the first half of the year, the current account had a surplus of 1,012.9 billion yuan. In the capital and financial accounts, direct investment assets increased by 615.6 billion yuan, liabilities increased by 174 billion yuan; reserve assets increased by 288 billion yuan.
  • Ministry of Natural Resources: In the first half of the year, the national marine economy continued to recover rapidly. The gross marine product was 4.7 trillion yuan, a year-on-year increase of 6.0%, and the growth rate was 0.9 percentage points higher than that of the first quarter.
  • Chengdu Municipal Bureau of Economics and Information Technology: Focusing on key areas such as “computing power”(算力), “storage capacity” (存力)and “transportation capacity”(运力), vigorously develop high-end hardware such as chips, server machines, and liquid cooling equipment, and focus on promoting the development of the memory chip industry to create a globally influential The “Storage Valley” supports the deployment and application of self-controllable chips such as Kunpeng鲲鹏, Ascend昇腾, and HighGlow海光.

Company

  • Huawei: Harmony 4 was officially released. As of now, the number of Harmonyecological devices has reached 700 million, covering mobile phones, tablets, wearables, smart screens, car cockpits, earphones, whole-house smarts, etc., and the number of HarmonyOS developers exceeds 2.2 million.

World

  • Food and Agriculture Organization of the United Nations: In July, the global food price index was 123.9 points, a month-on-month increase of 1.3%, and a year-on-year decrease of 11.8%. The vegetable oil price index rose sharply by 12.1% from June after falling for seven consecutive months. International sunflower oil prices rebounded by more than 15%. The rice price index rose 2.8 percent month-on-month and 19.7 percent year-on-year, reaching the highest level since September 2011.
  • Vietnam: Companies are required to keep local rice prices stable and avoid large-scale purchases.
  • The Ministry of Employment and Labor of South Korea: Finalized the minimum hourly wage of 9,860 won (approximately RMB 54.33) in 2024, and the minimum monthly salary of 2,060,740 won. Next year’s minimum wage will rise by 2.5% compared with this year. This is consistent with the content submitted to the Ministry of Labor by the Minimum Wage Commission on the 19th of last month, and will apply to all units in various industries.