Foreign trade people please check: a week of hot information review and forward-looking (7.08-7.14)

01Industry News

In the first half of this year, Alashankou and Khorgos ports saw a record high number of Chinese-European trains.

Xinjiang is the most important transportation hub for cargo transportation between China and Central Asia and Europe. From January to May this year, Xinjiang's foreign trade import and export totaled 185.64 billion yuan, an increase of 52.1% year-on-year, with the growth rate ranking second in the country. The number of China-European liner train has also increased significantly. The latest data show that in the first half of this year, the Xinjiang Railway Alashankou, Khorgos dual ports of passage of China-European trains amounted to 7,746, an increase of 8.2% year-on-year.
Source: CCTV News

2024 World Conference on Artificial Intelligence concludes successfully, AI big models, AI applications in focus

From July 4 to 6, the 2024 World Artificial Intelligence Conference and High-level Meeting on Global Governance of Artificial Intelligence (WAIC 2024) was held in Shanghai. The number of participating companies exceeded 500, including Baidu, Tencent, Alibaba and other head Internet technology giants, but also including MiniMax, Baichuan Intelligence, Step Star and other star AI startups. Overall, compared with the 2023 WAIC, the domestic AI large model "hundred model war" entered the second half. At the same time as the model capability (especially the multimodal generation capability) continues to be iterated, the landing of AI applications in vertical fields, as well as the exploration of commercialization methods, has become the focus of big model companies.
Source: Daily Economic News

2024 Global Digital Economy Conference Opens in Beijing

On the morning of July 2, the 2024 Global Digital Economy Conference opened at the China National Convention Center. This year's conference to "open the new era of digital intelligence, share a new digital future" as the theme, to create a "1 + 6 + 3 + N" activities framework, set the opening ceremony and the main forum, six high-level forums, supporting the Digital Economy Experience Week, Digital Night, the results of the conference of three brand characteristic activities, organizing a number of forums and conferences. Brand characteristic activities, organizing a number of forums and series of activities, to promote the development of the digital economy and deepen international cooperation provides an important platform.
Source: Surge News

Japan's trade deficit in May 1108.9 billion yen

Japan's trade deficit in May 1108.9 billion yen, expected deficit 118.67 billion yen, the previous value of the deficit of 661.5 billion yen. 2406.2 billion yen in May quarterly adjusted current account, expected 205.1 billion yen, the previous value of 252.41 billion yen.
Source: Daily Economic News

The global semiconductor industry strong rebound, domestic and foreign enterprises frequently report good results

Recently, a number of semiconductor listed companies at home and abroad disclosed the first half of the earnings forecast, have come to the performance of high growth "good news". A-share listed companies, as of July 7 afternoon press release, the first to disclose the first half of the results of the five A-share listed companies in the semiconductor industry (Weir shares, Lanqi science and technology, Baiwei storage, South Core Technology, Dinglong shares), is expected to be attributable to the owners of the parent company's net profit for the first half of the year increased by more than 100%. Overseas manufacturers, Samsung Electronics and other companies have also disclosed far more than expected results. Guo Tao, deputy director of China's e-commerce expert service center, said in an interview with reporters: "Semiconductor companies have a lot of good news, showing a strong recovery of the global semiconductor industry. The industry has entered an upward cycle after the previous downturn. The market is generally optimistic about the boom in the semiconductor industry in the second half of this year."
Source: Securities Daily

Top 5 Chief Economists Mid-Year Economic Watch: H1 GDP growth may be higher than full-year target, boosting domestic demand in H2 is crucial

With the economic data for the first half of 2024 about to be unveiled, the performance of core economic indicators such as Gross Domestic Product (GDP), consumption, investment and foreign trade have become the focus of market attention. To this end, Securities Daily has invited five chief economists - Dong Zhongyun, chief economist of AVIC Securities, Ming Ming, chief economist of CITIC Securities, Wen Bin, chief economist of Minsheng Bank, Zhang Jun, chief economist of China Galaxy Securities, and Lian Ping, president of the Guangkai Chief Institute of Industrial Research and chief economist, to look ahead to theSecond quarter economic data, and in-depth analysis of the future macro policy focus and direction. Interviewed experts generally believe that the second quarter of China's foreign demand marginal rebound, consumption as a whole continues to recover, investment remains stable, is expected to the second quarter GDP growth of 5.1% year-on-year, the first half of the cumulative year-on-year growth or higher than the full-year target.
Source: Securities Daily

Extreme weather events frequent global catastrophe bond issuance surgeWith the frequent occurrence of extreme weather, earthquakes and other catastrophic events globally, and the economic losses they cause increasing year after year, activity in the insurance-linked securities market, represented by catastrophe bonds, continues to climb. According to Artemis, a compiler of data on insurance-linked securities, the catastrophe bond and ILS market reached $12.6 billion in issuance in the first half of 2024.Among them, in the second quarter of 2024, catastrophe bond and related ILS issuance exceeded US$8 billion for the first time in a single quarter, reaching US$8.4 billion.
Source: Shanghai Securities News

02 Important Events

With three visits to Tajikistan, President Xi Jinping has this brotherhood in mind

President Xi Jinping, who is on a state visit to Tajikistan, said at a wide-ranging meeting with President Rahmon of Tajikistan on July 5 that China will always be Tajikistan's trustworthy friend, dependable partner and close brother.Over the past 11 years, President Xi Jinping has visited Tajikistan three times, as if he were a guest in the home of a good neighbor and a good brother. With head of state diplomacy as the leader, China and Tajikistan will develop a new era of China-Tajikistan comprehensive strategic partnership, writing a new chapter in the friendship between the two countries.
Source

U.S. labor market turns cold in June, rate cut expectations rise again

US non-farm payrolls and payrolls growth both slowed in June, the unemployment rate rose to the highest since late 2021, and money markets are now fully betting on the Federal Reserve to cut interest rates twice a year.
Source: Caixin

France's National Assembly Election Second Round of Voting Ends with Majority for Coalition of Left-Wing Parties

The second round of voting in the French National Assembly elections ended at 20:00 local time. The left-wing political party alliance "New Popular Front" won the majority of seats. According to the latest exit polls, the far-right National Alliance and its allies won about 115 to 150 seats, the left-wing coalition of political parties "New Popular Front" won about 175 to 205 seats, and the ruling Baath party and its centrist coalition "Together" won about 150 to 175 seats. The ruling Baath Party and its centrist alliance "Together" won about 150 to 175 seats.
Source: Caixin News Agency

ECB Governing Council member Makhlouf: satisfied with expectations of one more rate cut, not ruling out two more cuts

Caixin News Agency, July 3 (Xinhua) -- European Central Bank (ECB) Governing Council member Makhlouf said he is satisfied with the expectation of one more rate cut; two rate cuts may be a bit too much, but we can't rule out this possibility completely.
Source: Caixin News Agency

Three major U.S. stock indexes collectively close higher, Tesla rises more than 10%

EST Tuesday, the three major U.S. stock indexes closed collectively higher, the Dow rose 0.41%, the Nasdaq rose 0.84%, the S&P 500 index rose 0.62%, most of the popular technology stocks rose, Tesla rose more than 10%, the total market capitalization back to the top of the $730 billion, Amazon, Google, Apple rose more than 1%. Automobile manufacturing, industrial metals, semiconductor equipment sectors rose, power coal, solar energy (4.450, -0.08, -1.77%), food department stores fell. Popular Chinese stocks rose, Nasdaq China Golden Dragon Index rose 0.79%. Weibo rose more than 4%, Futura Holdings, Manchu, Alibaba, and Azure rose more than 2%, and Ideal Motors, Vipshop, Aqiyi, and Jingdong rose more than 1%. Netease fell more than 2%, Xiaopeng car fell more than 1%.
Source: Securities Times - e company

Pakistani experts: the "global south" should be more open and work together

On the afternoon of July 6, during a panel meeting on the theme of "Global South and International Order", Suhail Mahmood, director of the Institute of Strategic Studies in Islamabad, Pakistan, said that developing countries should be more united and open, and play a more important role in the establishment of international order.
Source: Global Market Intelligence

China Becomes Israel's No. 1 Auto Supplier in H1

The Israel Automobile Importers Association (IAIA) has released data showing that Chinese car brands led the Israeli car sales market in the first half of 2024, with China becoming the top supplier of cars to Israel. The data showed that from January to June this year, Chinese automobile companies sold 34,601 fuel and electric vehicles in Israel, followed by South Korean and Japanese brands, with sales of 27,187 and 23,185 vehicles, respectively. During the same period, Chinese electric cars accounted for 68.31% of the electric car market share in Israel, with sales of 26,803 units. Chinese carmaker BYD emerged as the top-selling brand, with 10,178 units of its six models sold in the Israeli market, including the ATTO 3, which was the best-selling model in Israel in the first half of the year with 7,265 units sold.In 2023, the total sales of Chinese EVs in Israel will be 29,402 units, more than double that of 2022, accounting for about 61 percent of Israel's EV market.
Source: Xinhua

Japan debuts new banknotes in 20 years: new faces, new technology, and a world first

On July 3, three new versions of yen banknotes in three denominations went into circulation, the first time Japan has issued new banknotes in 20 years. The new version of the banknote from the color to the characters are designed new, especially the use of holographic character image technology anti-counterfeiting, the world's first.
Source: Shangguan News

Exit Polls Show UK Labor Wins General Election

A number of British media released on the night of the 4th general election exit polls show that the Labour Party led by Keir Starmer won more than half of the seats in the lower house of the parliament, and will become the ruling party in the United Kingdom.
Source: Xinhua News Agency

03 Reminder of next week's key events

Weekly Global Highlights

Monday (July 8): 1-year inflation expectations from the U.S. New York Fed.

Tuesday (July 9): Fed Chairman Jerome Powell will deliver semi-annual monetary policy testimony before the Senate Banking Committee.

Wednesday (July 10): the Ministry of Finance (MOF) will issue the third tranche of 2024 RMB treasury bonds in the Hong Kong Special Administrative Region (HKSAR), with an issue size of 9 billion yuan, and the specific issuance arrangements will be announced in the Hong Kong Monetary Authority's Central Moneymarkets Unit (CMU) Debt Instruments Settlement System.

Thursday (July 11): U.S. CPI data for June, initial jobless claims for the week.

Friday (July 12): the General Administration of Customs is expected to release June import and export data.

04 Global Important Conferences

Glasstechmexico, the Mexican Window, Door and Glass Fair

Organizer: YT International Enterprises, Inc.

Time: July 09 - July 11, 2024

Exhibition Venue: Guadalajara Convention Center

Glasstechmexico is a specialized exhibition for glass technology in Mexico. This exhibition focuses not only on flat glass, but also insulating/container glass, doors and windows, aluminum profiles, etc.. The target market is not only Mexico, but the whole Latin America. It is the perfect platform for the glass, doors and windows industry to communicate and meet with suppliers from all over the world and buyers from Latin America.

Semicon West, San Francisco, USA

Organizer: International Semiconductor Equipment & Materials Association

Time: July 09 - July 11, 2024

Venue: Moscone Expo Center, San Francisco

Semicon West is organized by the International Semiconductor Equipment & Materials Association (ISEMA), which has become the most influential semiconductor industry equipment exhibition in the world. As an influential semiconductor association organization, and the most influential semiconductor exhibition, but also held in Semicon Europe, China Taiwan Semiconductor Exhibition, Japan Semiconductor Exhibition. SEMICON WEST 2020 will focus on displaying the semiconductor industry's future trends and technological applications and innovations, is the semiconductor enterprises in various countries an important platform for technological exchanges, but also to enter the Americas market trade platform.

05 Important Global Festivals

July 9 (Tuesday) Argentine Independence Day

Argentina was colonized by Spain in the mid-16th century and declared its independence on July 9, 1816, after a massive armed struggle. The people of Argentina recognize this day as Independence Day.

Activities: Independence Day is celebrated with great enthusiasm and pride throughout Argentina. From the bustling streets of Buenos Aires to the smallest country town, the spirit of freedom is everywhere. Celebrations often include parades, street performances, live music and cultural exhibitions. The streets are decorated in Argentina's national colors and people gather to show their patriotism and unity.

Suggestions: Blessings in advance and vacations confirmed.

July 11 (Thursday) Mongolian People's Revolution Memorial Day

The anniversary of the Mongolian People's Revolution is July 11, 1921, when the People's Revolution led by the Mongolian People's Revolutionary Party (MPRP) triumphed and established a constitutional monarchical government in Kulun (present-day Ulaanbaatar). The date (July 11) was set as the anniversary of the Mongolian People's Revolution, i.e. the National Day.

Events: The Congress is accompanied by three traditional Mongolian competitions, including horse racing, wrestling and archery. The Congress also includes performing arts, national cuisine, handicrafts, Bielgi folk dances and horse-head fiddle performances.

Suggestion: Vacation confirmed and blessed in advance.

July 14 (Sunday) French National Day

The French National Day is celebrated on July 14 every year. It was officially established in 1880, and the French celebrate this day, which symbolizes freedom and revolution, with great pomp and circumstance every year.

Suggestion: Vacation confirmation and early blessing.