农银国际证券每天导读

Core Insights - The report highlights that the 2-year US Treasury yield has reached its highest level since December, indicating a decrease in expectations for interest rate cuts by the Federal Reserve this year [1] - China's industrial value-added and fixed asset investment growth in the first two months of the year exceeded initial expectations, with industrial value-added growing by 7% year-on-year, surpassing the forecast of 5.2% [3][4] - The People's Bank of China is focusing on improving the card payment ecosystem to enhance payment service inclusivity [5][6] - Hong Kong has attracted significant international investors, including Sheikh Ali Al Maktoum's family office, which is looking for opportunities in AI, electric vehicles, tourism, and fintech [7][8] - Recent data indicates a decline in property transactions in Hong Kong, suggesting a cooling in the housing market [9][10] Company News - Apple is reportedly in discussions with Google to integrate its Gemini AI model into iPhones, which could significantly impact the AI industry [11] - Tsinghua Unigroup has optimized its debt repayment plan for two US dollar bonds, including increased prepayment options and higher buyback prices [11] - Longi Green Energy, the world's largest solar company, plans to cut nearly one-third of its workforce due to industry overcapacity and intense competition [11] - Evergrande Group has been penalized by the China Securities Regulatory Commission for inflating revenues by over 564.1 billion yuan (approximately 78 billion USD) through financial fraud in 2019 and 2020 [11] Economic Indicators - In the first two months of 2024, China's fixed asset investment (excluding rural areas) grew by 4.2% year-on-year, significantly above the expected 3.2% [20] - The retail sales of consumer goods in China increased by 5.5% year-on-year, aligning closely with market expectations [20] - The real estate development investment in China saw a year-on-year decline of 9%, continuing to be a major drag on the economy [3][20]