Domestic Economic Trends - The People's Bank of China conducted a 900 billion yuan medium-term lending facility operation, net draining 550 billion yuan, marking the fourth consecutive month of reduced operations, with a potential 50 basis points reserve requirement ratio cut expected by year-end[8] - In October, profits of industrial enterprises fell by 10.0% year-on-year, a significant narrowing of the decline by 17.1 percentage points compared to September, indicating a stabilization in production and sales[14] - The implementation of the "5G Scale Application Action Plan" aims for over 85% penetration of 5G users and 45% application penetration in large and medium-sized industrial enterprises by the end of 2027[11] International Economic Developments - Trump announced a 25% tariff on goods from Mexico and Canada and an additional 10% tariff on Chinese goods, with tariffs likely to be implemented in a tiered manner, potentially impacting domestic exports negatively[23][27] - The nomination of Trump's Treasury Secretary candidate has eased market concerns regarding extreme tariff policies and debt crises, leading to a decline in U.S. Treasury yields and the dollar index[22] Commodity Price Movements - Brent crude oil prices decreased by 0.87% week-on-week, while iron ore prices increased by 2.02% during the same period[34] - The average price of residential real estate sales rose by 17.83% week-on-week, indicating a recovery in the housing market[34] Financial Sector Developments - A joint action plan by seven departments aims to promote the digital transformation of financial institutions, enhancing digital governance and service ecosystems[16][20] - The digital credit scale in China reached $626.7 billion, accounting for 78.8% of the global total, with the digital yuan pilot covering 17 provinces and cities[20]
宏观周报：数字化加快推进，“关税威胁”拉响警报
Southwest Securities·2024-11-29 13:01