CPI Analysis - December CPI increased by 0.8% year-on-year, the highest growth since March 2023[2] - Food prices contributed significantly to CPI, with fresh vegetables and fruits rising by 18.2% and 4.4% respectively[2] - Core CPI, excluding food and energy, remained stable at 1.2% year-on-year[2] PPI Analysis - December PPI decreased by 1.9% year-on-year, but the decline narrowed by 0.3 percentage points from the previous month[2] - PPI recorded a month-on-month increase of 0.2%, marking three consecutive months of growth[2] - Key industries such as coal mining and cement manufacturing saw price increases of 1.3%, 0.8%, and 0.5% respectively[2] Market Outlook - January CPI is expected to drop to around 0.4% year-on-year due to a high base effect from the previous year[2] - January PPI is projected to rise to approximately 0.3% month-on-month, with a year-on-year estimate of -1.2%[2] - The impact of low oil prices continues to weigh on PPI improvements, while rising prices in non-ferrous metals support certain sectors[2] Risks - Domestic policy effectiveness may fall short of expectations, posing risks to economic recovery[2]

Group 1 - The core focus of the meetings was on deepening cooperation in energy sectors, including nuclear energy, renewable energy, and oil and gas processing between Kazakhstan and Chinese companies [1][2] - Kazakhstan President Tokayev expressed confidence in the successful advancement of joint projects, particularly in the nuclear sector, including the construction of a second nuclear power plant in Kazakhstan [2] - Specific cooperation agreements were reached, including a 300 MW solar project in Turkestan, a 160 MW steam turbine project in Aqtau, and a urea project in Aktobe [3] Group 2 - The meetings resulted in over 70 commercial agreements signed during the 8th China-Kazakhstan Entrepreneurs Committee meeting, with a total value exceeding $15 billion, covering key areas such as energy, infrastructure, high technology, and agriculture [3] - The discussions highlighted a new energy cooperation framework based on mutual trust and strategic vision, with Chinese partners showing a clear willingness to invest in Kazakhstan's energy security projects [3] - The modernization of the Chimkent refinery, with an annual processing capacity of 12 million tons, was emphasized as a significant project during the discussions with China National Petroleum Corporation [2]