宏观周报：加快发展新质生产力，美国经济数据下修

Domestic Developments - The Chinese government emphasizes the importance of strengthening the rule of law in capital markets and accelerating the establishment of a unified national market system[1] - The People's Bank of China is focusing on five key areas: technology finance, green finance, inclusive finance, pension finance, and digital finance, indicating significant future investments in these sectors[1] - The Hong Kong government plans to enhance offshore RMB liquidity and deepen the connectivity mechanism, which is expected to gradually improve the offshore RMB ecosystem[6] Economic Indicators - In January, new home sales in the U.S. recorded 661,000 units, below expectations, with new home supply rising to 456,000 units, the highest level in over a year[8] - The U.S. GDP growth for Q4 was revised down to 3.2%, below the expected 3.3%, indicating potential short-term disruptions in economic data[37] - Japan's January CPI rose by 2.2% year-on-year, which, while slowing, was still above expectations, necessitating attention to upcoming labor negotiations[8] Market Trends - The Eurozone economic sentiment index fell to 95.4 in February, marking a decline for three consecutive months, indicating a weak economic outlook amid high inflation and interest rates[9] - The average price of Brent crude oil decreased by 1.97% week-on-week, while iron ore prices fell by 3.58%[13] - The transaction area of commercial housing in 30 major cities increased by 91.91% week-on-week, although retail sales of passenger vehicles dropped by 25% year-on-year[44]