Author: xjadmin

On May 8th, as the world’s largest distribution center for Christmas products, Yiwu in Zhejiang Province exports nearly 80% of the global Christmas product market. At present, Yiwu International Trade City is gradually entering the peak season for ordering Christmas products, and merchants and production enterprises are actively preparing for the season, striving to put these Christmas products on shelves in Europe, America, and other countries and regions in November. A business owner of Yiwu International Trade City said, “This is related to the international market. This year, customers placed orders earlier than in previous years. In previous years, we started shipping around April, but we started shipping in February and March this year. Our factory orders have been scheduled until early June

On May 8th, Huatai Securities Research Report pointed out that although the overall soft data in the United States has weakened recently, the hard data remains stable, and there is significant uncertainty in tariff policies and the outlook for unemployment/inflation. The May meeting showed that the Federal Reserve maintains its previous wait-and-see stance and is not in a hurry to cut interest rates. It plans to wait for the situation to become clear before taking action, and the decision to cut interest rates depends on the balance between unemployment and inflation. Looking ahead, the Fed’s subsequent interest rate cuts will mainly depend on the trend of hard data, especially employment data. If the employment data weakens significantly before the June meeting and inflation pressure remains manageable in April and May, there is still a certain probability that the Federal Reserve will cut interest rates in June. Otherwise, the Fed’s decision to cut interest rates again may have to be postponed until July or later. We will continue to focus on changes in US tariff policies and hard data, including employment data, to assess the Fed’s interest rate cut decision.

On May 8th, the People’s Daily reported that the healthy development of China US economic and trade relations requires both sides to move towards each other. The Chinese people advocate “peace is the most precious” and “faith and harmony”, but “peace” is not an unprincipled concession, and “trust” is not a connivance of treachery. China always believes that any dialogue and negotiation must be conducted on the premise of mutual respect, equal consultation, and mutual benefit. If the US wants to solve the problem through negotiations, it must face up to the serious negative impact of unilateral tariff measures on itself and the world, acknowledge international economic and trade rules, fairness and justice, and rational voices from all walks of life, show sincerity in negotiations, and correct erroneous practices. If we say one thing, do another, or even attempt to use negotiation as a cover to continue coercion and blackmail, China will never agree, let alone sacrifice our principles and international fairness and justice to seek any agreement. History and reality have repeatedly proven that cooperation between China and the United States benefits both, while confrontation harms both. The United States should adhere to the principles of mutual respect, peaceful coexistence, and win-win cooperation, resolve their respective concerns through equal dialogue and consultation with China, jointly promote the healthy, stable, and sustainable development of China US economic and trade relations, and inject more certainty into the world economy.

On May 8th, China Post Life Insurance Co., Ltd. announced on May 7th that it had acquired China Eastern Airlines Logistics Co., Ltd. through an agreement transfer. This means that the total number of times insurance funds have been raised within the year has reached at least 13 times. The listing of insurance companies on the stock market is a vivid manifestation of long-term capital and patient capital increasing their efforts to enter the market. At the press conference held by the State Council Information Office on May 7th, a package of financial policies was released. Among them, multiple policies are related to insurance investment, including “further expanding the pilot scope of long-term investment of insurance funds” and “reducing the risk factor of insurance company stock investment”. Industry insiders believe that with the release and implementation of incremental policies, the enthusiasm of patient capital such as insurance funds to enter the market will be further enhanced, and the market space will be further expanded, which will continue to stabilize and activate the capital market.

On May 8th, Budweiser Asia Pacific reported a net profit of 234 million US dollars in the first quarter, with an estimated 234.6 million US dollars; First quarter revenue of $1.46 billion, estimated at $1.52 billion; The gross profit margin for the first quarter is 51%, with an estimated 50.3%; Adjusted EBITDA for the first quarter is $485 million, with an estimated $498 million; The adjusted pre tax profit for the first quarter is $331 million, with an estimated $343.1 million.

① At 10:00, the State Council Information Office held a press conference; ② 14:00 Germany March seasonally adjusted industrial output monthly rate, March seasonally adjusted trade account, UK April Halifax seasonally adjusted housing price index monthly rate; ③ At 3:00 pm, the Ministry of Commerce held its first regular press conference in May; ④ 19:02 Bank of England announces interest rate decision and monetary policy report; ⑤ 20:30 Initial jobless claims in the United States for the week ending May 3rd; ⑥ 22:00 Wholesale sales monthly rate in March in the United States; ⑦ 22:30 US EIA natural gas inventory for the week ending May 2nd; ⑧ 23:00 US April New York Fed 1-year inflation expectations.

On May 8th, with the disclosure of the first quarter solvency reports of insurance companies, the operating situation of property and casualty insurance companies has also been revealed. According to data from the China Insurance Industry Association, as of May 7th, the 85 property and casualty insurance companies that have announced their operating conditions for the first quarter of this year have achieved a total insurance business revenue of approximately 516.145 billion yuan and a total net profit of approximately 25.604 billion yuan. The interviewed experts stated that the property and casualty insurance industry has performed well this year, mainly due to factors such as the optimization of the industry’s auto insurance business and the gradual release of investment returns last year. (Securities Daily)

On May 8th, the 2024 annual report season has ended, and the dividend matters of listed securities firms have been put on the agenda. After experiencing record breaking mid-term dividends and special dividends in the third quarter, listed securities firms plan to “splurge” over 38 billion yuan for year-end dividends in 2024. Among the 42 listed securities firms, only Tianfeng Securities and Pacific Securities do not distribute dividends due to negative distributable profits. If we look at the overall situation in 2024, there are already 17 securities firms with cash dividend ratios exceeding 40%, which is higher than in 2023. Expanding the observation dimension to the past three reporting periods, it is evident that listed securities firms are establishing a sustained and stable shareholder return mechanism, with 70% of securities firms maintaining an annual cash dividend ratio of 30% or higher. (Securities Times)

On May 8th, the United Nations Security Council reviewed the North Korean nuclear issue in the early morning of Beijing time on the afternoon of May 7th. Chinese Deputy Permanent Representative to the United Nations Geng Shuang refuted the accusations and smears made by the US representative in his speech and urged the US to stop engaging in blame diplomacy at the Security Council.