Category: Flash News

On April 28th, a report released by the Stockholm International Peace Research Institute (SIPRI) showed that global military spending reached $2.72 trillion in 2024, an increase of 9.4% from 2023 and the largest year-on-year increase since the end of the Cold War. Among them, the US military expenditure increased by 5.7%, reaching 997 billion US dollars, accounting for 66% of NATO’s total military expenditure and 37% of the world’s military expenditure in 2024. In addition, the Russia-Ukraine conflict and doubts about the US commitment to NATO led to a 17% increase in European military spending.

On April 28th, Shanghai Auntie announced that it plans to issue 2.41 million H-shares for listing in Hong Kong (depending on whether the over allotment option is exercised or not), with a pricing range of HKD 95.57 per share to HKD 113.12 per share. Expected pricing on May 6th and trading on the Hong Kong Stock Exchange starting on May 8th. The code is 2589.

On April 28th, commercial banks are intensively shutting down credit card branch centers in different locations. Recently, the Hebei Financial Regulatory Bureau approved the closure of the Baoding and Tangshan branches of the Bank of Communications Pacific Credit Card Center. Just a few days ago, the Bank of Communications Pacific Credit Card Center received approval from the Zhejiang Financial Regulatory Bureau to terminate operations at six branch centers in Hangzhou and Jinhua, Zhejiang. According to statistics from reporters, the pace of Bank of Communications closing credit card centers in remote branches has accelerated, with 23 cases reported so far this year. In addition, banks such as Guangfa Bank and Minsheng Bank are gradually closing their credit card branch centers in different locations. The transformation of credit card business from vertical management to local operation is a microcosm of commercial banks actively shrinking their front line against the backdrop of slowing retail business development.

On April 28th, the Guiding Opinions on Promoting the High quality Development of Government Investment Funds issued by the General Office of the State Council at the beginning of this year have been implemented for three months. Reporters have conducted multiple investigations and learned that in the past three months, many local governments have issued relevant management measures for government investment funds, guiding the scientific and standardized development of local government investment funds around the new policy guidelines. In this context, there has been a certain degree of differentiation in the establishment of local government investment funds. As mainstream fund centers, Guangdong, Jiangsu, Zhejiang, Shanghai and other regions still have a strong momentum in establishing government guided funds; However, the number of guidance funds established by some central and western regions and county-level governments has decreased. In addition, the strategy of establishing direct investment funds for direct investment is increasingly favored and praised by local governments. (Securities Times)

On April 28th, 2024 is the first year for the financial industry to complete the “Five Great Articles”. The achievements of listed financial institutions in doing well in the “five major articles” are reflected in the details of their annual reports – compared to the overview of the 2023 annual report, the 2024 annual report mostly includes columns and special introductions on the progress. In the “Five Great Articles of Finance”, pension finance is closely related to people’s lives. The reporter found through the 2024 annual report that listed financial institutions deeply grasp the political and people-oriented nature of financial work, and start from various aspects such as expanding the scale of pension funds, enriching pension financial products, optimizing the supply of pension services, and increasing financial support for the pension industry, to do a good job in the “era answer sheet” of pension finance. (Shanghai Stock News)

On April 28th, last week, the main A-share indices continued to rebound, with a slight increase in market trading activity. However, the rebound trend was somewhat differentiated, with the ChiNext Index and the Shenzhen Component Index rising 1.74% and 1.38% respectively, outperforming the Shanghai Composite Index. Looking ahead to the market trend in May, institutional analysis suggests that with positive policy signals, macroeconomic recovery, and moderate liquidity, the risk appetite of the A-share market is expected to continue to increase, and sectors with sustained catalytic factors in subsequent policies and industries will be the focus of trading. (Shanghai Stock News)

On April 27th local time, according to the prosecutor’s request, the Basman District Court in Moscow, Russia approved the pre-trial detention of the suspect Ignat Kuchin, who committed a car explosion that resulted in the death of a Russian lieutenant general, for one month and 30 days. The investigation shows that the explosion was caused by a homemade explosive device containing fragments. Suspect Kuzin obtained accessories, video surveillance, and control systems for making explosive devices at a location in Barashiha, Moscow Oblast in March this year, and then installed them in a Volkswagen “Golf” car. During the interrogation, Kujin confessed in detail the entire process from criminal preparation to implementation. After completing the preparation work on April 23rd, Kujin fled. In fact, he received a total of $18000 in compensation for committing this criminal act. On April 25th, when Russian Lieutenant General Moskalik walked out of his residence unit, an explosive device was remotely detonated, resulting in his death. According to the news from the Russian Federal Security Service on April 26th local time, the suspect suspected of participating in the Mosskarik bombing case, the Deputy Director of the Operations Department of the Russian General Staff, has been arrested. The department stated that the detained individual is Ukrainian agent Ignat Kuzin, born in 1983, and holds a residence permit in Ukraine. There is currently no response from the Ukrainian side regarding this matter.

On April 28th, Gary Cohen, who served as the Director of the White House National Economic Council during Trump’s first presidential term, stated on April 27th local time that the impact of the current US tariff policy will begin to manifest nationwide by the end of next month, based on the time required for goods transportation and distribution. Gary Cohen said that people with lower income levels and economic strength will spend 100% of their salary on purchasing goods, while the wealthy will store a higher proportion of their income. This means that tariffs will have a greater impact on low-income Americans. On the issue of interest rates, Gary Cohen stated that from the perspective of the Federal Reserve, this institution is fulfilling its assigned responsibilities, so fundamentally, the Fed has no reason to take action to lower interest rates now.

On April 28th, according to statistics released by the Gaza Strip health department on the evening of April 27th local time, the Israeli military’s military operations in the Gaza Strip from dawn to evening resulted in at least 51 deaths. The airstrikes in Khan Younis in southern Gaza, Deir ez Zor in central Gaza, and Gaza City in northern Gaza have resulted in multiple deaths. Israel has not yet responded to this news.

On April 28th, the US Drug Enforcement Administration detained over 100 immigrants suspected of illegal entry during a raid on an underground nightclub in a shopping center in Colorado Springs on April 27th local time. More than ten active duty soldiers were also found engaged in illegal activities at the nightclub during the raid.