April 27 Macroeconomic index:From space exploration to economic challenges

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Domestic News

1. Chang'e-7 will fly to the moon with multinational payloads

2. The cumulative handling capacity of Sinopec Tianjin LNG terminal exceeded 40 million tons

3. Ministry of Commerce: The pilot reform of auto circulation consumption is being accelerated, and the enthusiasm for pilot declarations is very high

4. The Ministry of Commerce introduces the trade-in situation of consumer goods

5. Welcome the Shen 19 crew back home, and all work at the Dongfeng landing site is ready

 International News

1. South Korea and the United States agreed to reach a tariff "package" by early July

2. The United Nations calls on India and Pakistan to exercise maximum restraint and avoid deterioration of the situation

3. UK retail sales rose for the third time in a row, but tariffs may dampen confidence in April

4. New metamaterials inspired by origami are introduced

5. Japan's "positive cycle" of wage growth may end next year

Domestic News

1. Chang'e-7 will fly to the moon with multinational payloads

Today, Foreign Ministry spokesman Guo Jiakun said at a regular press conference that on April 24, the Shenzhou-20 manned spacecraft was successfully launched, coinciding with the 10th "China Space Day". Over the years, China has made steady progress in pursuing its dream of space, and has continuously expanded its "circle of friends" for space cooperation, and has signed nearly 200 intergovernmental space cooperation agreements with more than 50 countries and international organizations. In the near future, China's Chang'e-7 will also fly to the moon with payloads from Egypt, Bahrain, Thailand, Italy, Switzerland and other countries. On the journey of exploring the sea of stars, China walks with the world for the benefit of mankind.

2. The cumulative handling capacity of Sinopec Tianjin LNG terminal exceeded 40 million tons

On April 25, Sinopec Tianjin LNG terminal received and unloaded a total of more than 40 million tons of LNG and supplied 47 billion cubic meters of natural gas to Beijing, Tianjin and Hebei. Sinopec Tianjin LNG terminal has an annual handling capacity of 10.8 million tons. In November 2023, the second phase of the station was put into operation. The second phase of the project used localization technology to build five storage tanks of 220,000 cubic meters, with a total gas storage capacity of 1.08 billion cubic meters, and a peak regulation capacity increased by 45% compared with the first phase, which can meet the gas demand of 72 million households for one month in winter.

3. Ministry of Commerce: The pilot reform of auto circulation consumption is being accelerated, and the enthusiasm for pilot declarations is very high

Li Gang, Director of the Department of Consumption Promotion of the Ministry of Commerce, said that at present, the pilot reform of automobile circulation consumption is being accelerated, and the enthusiasm of the pilot declaration is very high. At the beginning of this year, the Ministry of Commerce and other 8 departments deployed and carried out the pilot work of automobile circulation and consumption reform, supporting local governments to reform and innovate in breaking the restrictive measures for the purchase and use of automobiles, developing automobile modification, RV camping and other automobile aftermarkets, and extending the automobile consumption chain on a pilot basis.

4. The Ministry of Commerce introduces the trade-in situation of consumer goods

As of 24:00 on April 24, 27.005 million cars were traded-in, 47.466 million or 12 types of household appliances were traded-in, 36.61 million digital products such as mobile phones were purchased, 37.123 million home decoration, kitchen and bathroom were replaced, and 4.2 million electric bicycles were traded-in. Since the implementation of the policy, more than 120 million people have enjoyed the subsidy of real money, driving sales of more than 720 billion yuan.

5. Welcome the Shen 19 crew back home, and all work at the Dongfeng landing site is ready

According to the plan, the Shenzhou-19 astronaut crew will return to the Dongfeng landing site on the 29th. Today, the landing site organized all the search and rescue forces to carry out the last comprehensive system-wide exercise to prepare for the astronauts to return home. According to the plan, the Shenzhou-19 manned spacecraft will adopt a five-lap rapid return plan, and go through several stages such as separation and evacuation, return braking, free taxi, re-entry into the atmosphere, and parachute landing, and the entire return and landing process will take about 50 minutes. At present, all the work of the Dongfeng landing site is ready and has the conditions to carry out search and rescue missions.

International News

1. South Korea and the United States agreed to reach a tariff "package" by early July

South Korea and the United States held "2+2" high-level trade consultations in Washington on 24 July, and agreed to reach a "package agreement" on issues such as the lifting of US tariffs on South Korea and industrial cooperation between the two countries by early July. Choi Sang-mo, Deputy Prime Minister for Economy and Minister of Strategy and Finance, Ahn Degeun, Minister of Trade, Industry and Energy, Scott, U.S. Treasury Secretary, and Jamieson Greer, Representative of the Office of the Trade Representative, attended the meeting as chief representatives of both parties. Choi Sang-mu and Ahn Deok-geun presented the results at a press conference held after the meeting. Choi Sang-mu said that the two sides reached a consensus on the July Pakage agreement aimed at removing tariffs before the end of the U.S. reciprocal tariff moratorium (July 8), and that consultations will be held in four major areas: tariffs and non-tariffs, economic security, investment cooperation, and monetary exchange rate policies. The two countries will not rush to achieve results and will hold consultations in a calm and orderly manner.

2. The United Nations calls on India and Pakistan to exercise maximum restraint and avoid deterioration of the situation

Following the April 22 shooting in Indian-administered Kashmir, India and Pakistan have taken separate tough measures. On the 24th local time, the United Nations called on India and Pakistan to exercise maximum restraint to avoid further deterioration of the situation. Stéphane Dujarric, spokesman for the UN Secretary-General, said on the 24th: "We strongly call on the governments of Pakistan and India to exercise maximum restraint to ensure that the situation and the developments we are seeing do not deteriorate further." He said all issues should be resolved peacefully through meaningful engagement.

3. UK retail sales rose for the third time in a row, but tariffs may dampen confidence in April

The Office for National Statistics said on Friday that sales rose 0.4% in March from the previous month, continuing the momentum of growth in the first two months of the year. This exceeded market expectations for a 0.4% decline in monthly sales. According to the Met Office, England had its sunniest March on record, boosting clothing sales. This is the best consecutive performance of overall sales growth since the economy emerged from the effects of Covid lockdowns in early 2021. However, the long-awaited recovery in consumer spending could be short-lived as trade tensions and a range of annual price hikes from municipal taxes to energy bills hit household confidence hard in April.

4. New metamaterials inspired by origami are introduced

A team from Princeton University in the United States has developed an innovative material. The material is a metamaterial, and by using simple plastics and custom-made magnetic composites, the team built a modular assembly called a "metabot" that can be manipulated remotely. Using magnetic fields, the team can change the structure of the metamaterial, causing it to expand, move, and deform, all without touching the material itself. This material does not have a traditional motor or internal gears, but can change shape and move. In an article published in the latest issue of the journal Nature, the team describes how they borrowed the art of origami to create this structure that blurs the lines between robots and materials.

5. Japan's "positive cycle" of wage growth may end next year

According to Nikkei, the risk of a sharp decline in earnings is threatening Japan's wage growth as the U.S. continues to wield the "tariff stick" around the world, putting pressure on Japanese companies, which are already suffering from chronic labor shortages. Hiroshi Matsumoto, a senior researcher at Pictet Japan, said: "Over the past two years, wage growth in Japan has been higher than inflation. But this positive cycle could end next year. ”

Domestic Macro Economy Index