Xinhua Financial Morning Post March 8

Mondo Social Updated on 2024-03-08

[Focus on].

**The General Office issued the "Opinions on Further Optimizing Payment Services and Improving Payment Convenience".

China's exports returned to double-digit growth.

At the end of February, China's foreign exchange reserves were $3,225.8 billion.

[Domestic news].

A few days ago, the General Office of the People's Republic of China issued the "Opinions on Further Optimizing Payment Services and Improving Payment Convenience", aiming at the payment habits of different groups, coordinating efforts to break through the blockages in payment services, bridging the digital divide, and striving to improve the multi-level and diversified payment service system, so as to provide more high-quality, efficient and convenient payment services for the elderly, foreign personnel and other groups.

The General Administration of Customs released data on the 7th, in the first two months of 2024, the total import and export value of China's goods was 661 trillion yuan,A year-on-year increase of 87%。Among them, export 375 trillion yuan,A year-on-year increase of 103%, the growth rate is back to double digits

The State Administration of Foreign Exchange released data on the scale of foreign exchange reserves at the end of February 2024 on the 7th, showing that as of the end of February 2024,China's foreign exchange reserves amounted to US$3,225.8 billion, an increase of US$6.5 billion from the end of JanuaryThe increase was 020%。

According to data released on the official website of the central bank on March 7, as of the end of February 2024, China's central bank's ** reserves were reported at 72.58 million ouncesUp 390,000 ounces sequentially. China's central bank has started this round of ** reserve holdings since November 2022 until February 2024It has achieved 16 consecutive months of increase.

On March 7, the Ministry of Finance released the 2023 report on the implementation of China's fiscal policy, showing that last year's fiscal operation was generally stable and the budget implementation was good.

Member Yi Gang said in his speech at the second plenary session of the second session of the 14th National Committee of the Chinese People's Political Consultative Conference (CPPCC) on the 7th that to promote high-quality financial development, it is necessary to strengthen the coordination and cooperation between financial policies and other fiscal policies, and take targeted measures for some key links in economic operation.

**The Consular Department announced on the 7th that in order to further promote personnel exchanges between China and foreign countries, China has decided to expand the scope of visa-free countries and try out the visa-free policy for ordinary passport holders from six countries: Switzerland, Ireland, Hungary, Austria, Belgium and Luxembourg.

According to the Chinese Institute of Certified Public Accountants on the 7th, on March 5, the China Injection Association held a regulatory meeting with the Accounting Department of the Ministry of Finance, the Supervision and Evaluation Bureau and the Accounting Department of the China Securities Regulatory Commission to conduct collective regulatory interviews with the eight accounting firms that undertook the audit of the 2023 financial statements of listed companies for the first time.

[International News].

Federal Reserve Chairman Jerome Powell said at a Senate hearing on the 7th that the Fed is "not far off" from gaining the confidence needed to start cutting interest rates, suggesting that the Fed may consider cutting interest rates in the coming months. However, Powell still stressed that there is no guarantee that inflation will return further to the long-term target of 2%, and the Fed's battle against inflation is not over.

According to data released by Challenger, Gray & Christmas, an American employment agency on the 7th, U.S. companies planned to lay off 84,638 employees in February, an increase of 3% from January and a year-on-year increase of 9%, reaching the highest level since the end of the global financial crisis in 2009.

On March 7, the European Central Bank (ECB) announced its March interest rate decision, which kept the ECB's three main interest rates unchanged as expected, keeping the main refinancing rate, deposit facility rate, and marginal lending rate unchanged at 45%, 4% and 475% all-time high.

Russia's central bank** and foreign exchange reserves for the week to March 1 were $581.1 billion, compared with $582 billion previously.

The Copernicus Climate Change Service, the European Union's climate monitoring agency, issued a communiqué on the 7th, saying that the past February was the hottest February on record in the world, and it was also the ninth consecutive month to set a record for the highest temperature in the same period.

On March 7, local time, the World Intellectual Property Organization released global intellectual property declaration statistics. Due to rising interest rates and economic uncertainty, the total number of international patent applications filed through the WIPO Patent Cooperation Treaty system was 27260,000 pieces, a year-on-year decrease of 18%, the first decline in 14 years; 7 per cent decline in filings under the international trademark system; International design filings increased by 1 per cent.

Germany's industrial orders fell 113%, far exceeding market expectations of a 6% month-on-month decline and lower than the previous month's 12% month-on-month increase. Statistics Germany said the decline was due to a slowdown in key orders, which had returned to normal levels after a strong performance in December.

[List of domestic and foreign markets].

[Announcement of listed companies].

Economic Data and Dynamics (Beijing Time).

Editor: Wu Zhengsi.

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