Entering ChinaNO.1 Overnight Market
The three major U.S. stock indexes collectively closed down, with the Nasdaq falling 0.5% and rising 1.65% this week; The S&P 500 fell 0.29% and rose 1.74% for the week; The Dow fell 0.32%, up 2.15% this week; Most of the large technology stocks fell, Nvidia fell more than 3%, and its market value evaporated by 112.6 billion US dollars (about 815.8 billion yuan), Tesla fell more than 1%, Apple and Amazon fell slightly, Google rose more than 1%, and Texas Instruments fell 7.5%, the largest decline since 2020; Paramount Global rose nearly 2%, and Novo Nordisk, which had a brilliant weight loss effect in the early trial of new drugs, rose more than 8%. The Nasdaq China Golden Dragon Index closed up 3.72%, up 2.8% this week, Chinese concept stocks rose, Kingsoft Cloud rose more than 13%, iQiyi rose more than 11%, JD.com, Good Future rose more than 5%, Baidu, Miniso, rose more than 4%, Weilai, Xiaopeng Motors rose more than 3%.
The preliminary US Markit manufacturing PMI came in at 50.1 in January, the highest since June last year, and entered expansion territory, higher than expectations of 49.8, compared to 49.4 in December 2024 and 50.7 in the same period last year. The preliminary Markit services PMI in the United States in January was 52.8, the lowest since April last year, sharply lower than the expected 56.5, and the previous value in December 2024 was 56.8, compared to 52.5 in the same period last year.
The offshore yuan once rose more than 500 points intraday, rising above 7.24 to a new high in nearly two months, and finally closed up 435 basis points at 7.2443, up 967 basis points this week.
Major European stock indexes closed mixed, with Germany’s DAX 30 down 0.1%, Britain’s FTSE 100 down 0.75%, France’s CAC 40 up 0.44%, and Euro Stoxx 50 up 0.03%.
NO.2 Wang Yi had a telephone conversation with U.S. Secretary of State Marco Rubio
On January 24, 2025, Wang Yi, member of the Political Bureau of the CPC Central Committee and Foreign Minister, had a telephone conversation with U.S. Secretary of State Marco Rubio. Wang Yi said that the two heads of state have pointed out the direction and set the tone for China-US relations. The teams of the two sides should implement the important consensus reached by the two heads of state, maintain communication, manage differences, expand cooperation based on the principles of mutual respect, peaceful coexistence and win-win cooperation, promote the stable, healthy and sustainable development of China-US relations, and find the right way for China and the United States to get along in the new era. (CCTV News)
NO.3 The General Office of the State Council issued the “Several Economic Policies on Promoting the High-quality Development of Culture”.
On January 24, the General Office of the State Council recently issued the “Several Economic Policies on Promoting the High-quality Development of Culture”, which mainly clarified the following policy measures. First, financial support. The second is tax incentives. The third is financial services. Fourth, scientific and technological innovation. Fifth, land use guarantee. Sixth, income distribution. Seventh, support the transformation of enterprises. After the restructuring, the original normal operating expenses will continue to be allocated.
NO.4 In response to the prominent monopoly problem in the pharmaceutical field, the State Council issued anti-monopoly guidelines
The reporter learned from the State Administration for Market Regulation on the 24th that the “Anti-Monopoly and Anti-Unfair Competition Committee of the State Council on Anti-Monopoly Guidelines in the Field of Drugs” (hereinafter referred to as the “Guidelines”) was promulgated, with a total of 7 chapters and 55 articles, aiming at the prominent monopoly problems in the pharmaceutical field, and further refining the performance of monopolistic behaviors in the field of drugs, law enforcement principles and identification standards. (CCTV News)
NO.5 Regarding automobile consumption, 8 departments including the Ministry of Commerce issued notices
According to the website of the Ministry of Commerce on January 24, the Ministry of Commerce and other 8 departments issued the “Notice on Carrying out the Pilot Work of Automobile Circulation and Consumption Reform”, the “Notice” put forward five pilot tasks, one is to stabilize and expand automobile consumption, strengthen inter-departmental cooperation and linkage, encourage relevant regions to optimize the purchase and restriction of automobile purchase and driving measures, cultivate and expand the consumption of intelligent networked new energy vehicles, and promote the integrated development of automobile business, tourism, culture, sports and health; The second is to promote the efficient circulation of second-hand cars, continue to improve the second-hand car circulation management system, accelerate the transfer of second-hand car brokers to distribution, and improve the service capacity of second-hand car circulation; The third is to create an atmosphere of automobile culture, promote the standardized and orderly development of car modification, car rental, automobile events, RV camping, traditional classic cars, etc., and create cross-border integrated consumption innovation projects such as automobiles and tourism, culture and sports according to local conditions; Fourth, improve the recycling system of scrapped vehicles, continue to support the construction of high-level projects, encourage the development of the “Internet + recycling” model, and accelerate the research and development and application of key remanufacturing technologies; Fifth, improve the digital level of automobile circulation and consumption, improve the information disclosure system in the automotive field, and explore the implementation of electronic recycling certificates for scrapped motor vehicles.
NO.6 China’s first new energy vehicle insurance guidance is here!
On January 24, the State Administration of Financial Supervision and Administration and other four departments jointly issued the “Guiding Opinions on Deepening Reform and Strengthening Supervision to Promote the High-quality Development of New Energy Vehicle Insurance”, which is the first guiding opinion on new energy vehicle insurance in China. The package of policy measures proposed in the Guiding Opinions will help to further optimize the supply of new energy vehicle insurance, promote a better match between the price and risk of new energy vehicle insurance, and promote the realization of the full range of insurance products. At the same time, the accuracy of auto insurance pricing will continue to improve, and the standardization of vehicle maintenance and claims will continue to improve, which will also promote new energy vehicle enterprises to optimize production design, improve the supply of parts, improve the economic level of new energy vehicle maintenance, and realize the high-quality development of the new energy vehicle industry chain. (Xinhua News Agency)
The “Auto Insurance is Good to Insurance” platform will be officially launched on the morning of January 25
According to the official WeChat of the Shanghai Insurance Exchange on January 24, the Insurance Association of China and the Shanghai Insurance Exchange issued an announcement on the online operation of the “car insurance is easy to insure” platform in the field of new energy vehicles. The “Auto Insurance is Easy to Insure” platform will be officially launched at 10:00 a.m. on January 25, 2025. The first batch of 10 large and medium-sized property insurance companies will be connected, and the second batch of about 20 property insurance companies will be connected in February this year. The “Auto Insurance is Easy to Insure” platform provides an online convenient insurance window for high-risk new energy vehicles, and new energy vehicle owners can link to insurance companies through the platform, and insurance companies may not refuse to insure.
NO.7 The Taiwan Affairs Office of the State Council confirmed: The Fujian Shanghai Tourist Group has submitted an application for inspection to the relevant parties in Taiwan
On January 24, Chen Binhua, spokesman for the Taiwan Affairs Office of the State Council, answered a reporter’s question. Question: It has been learned that today the Fujian and Shanghai tourist groups have submitted an application to the relevant Taiwan authorities to inspect the island. Do you have any information? A: Yes. It is understood that after the Ministry of Culture and Tourism recently announced the resumption of group tours for residents of Fujian and Shanghai to Taiwan, the tourism industry on both sides of the strait has actively communicated and docked, and is enthusiastic about resuming and expanding cross-strait tourism exchanges. We are glad to see that the Fujian and Shanghai groups have put forward requests to the relevant Taiwan authorities for inspection, and hope that the tourism industry of the two places will make a smooth trip to Taiwan, so as to lay a good foundation for the resumption of group tours to Taiwan for residents of the two places. (CCTV News)
NO.8 Drug Evaluation Center of the State Food and Drug Administration: Caused by editing errors, it has been corrected
On January 24, according to the website of the Center for Drug Evaluation of the State Drug Administration, recently, our center received reports from relevant media and enterprises that there is a problem of data duplication in individual varieties disclosed on the website of the Center for Drug Evaluation of the State Food and Drug Administration. Our center attaches great importance to it and immediately verifies the data of relevant varieties. It has been verified that the above problems were caused by editorial errors when the relevant product information was disclosed in 2019 and 2021. Our center has corrected the error information on the center’s website as soon as possible. We apologize for the mistakes made in our work. In the future, our center will strengthen the review of public information to avoid the recurrence of similar problems. Welcome to supervise from all walks of life!
NO.9 Guangzhou two lottery players won 160 million yuan, paying more than 30 million yuan in taxes
On January 24th, Guangzhou Fucai official website issued an announcement, on the Guangzhou 2 lottery players won the two-color ball 160 million grand prize for a briefing. The details are as follows: On January 23, 2025, the 2025010 th phase of the China Welfare Lottery two-color ball game was drawn, and the first prize of 30 notes was won in Guangzhou in the current period. Among them, Panyu District won the first prize of 10 notes, with a total prize of 53476100 yuan; Huadu District won the first prize of 20 notes, with a total prize of 106952200 yuan. The two lottery winners have completed the redemption in our center and paid personal income tax of 10695220 yuan and 21390440 yuan respectively.
NO.10 International News
The Trump administration has announced that it will expand the expedited deportation authority nationwide
On January 24, local time, the Trump administration in the United States announced that it would expand the fast-track deportation right nationwide, allowing immigration officials to deport immigrants without a judge. On the 24th, U.S. media said that an internal memo from the Department of Homeland Security showed that the Trump administration had authorized federal immigration officials to cancel the legal status of hundreds of thousands of immigrants allowed to enter the United States during the former President Biden era and seek to deport them. (CCTV News)
The U.S. State Department freezes almost all new funding for U.S. foreign aid programs
On January 24, local time, the U.S. State Department froze nearly all new funding for U.S. foreign aid programs, but allowed humanitarian food programs and military aid to Israel and Egypt to continue. The order threatens the rapid suspension of many aid programs around the world, including health, education, development, vocational training and other areas, the report said. An aid group official said many businesses could stop operations immediately to avoid incurring more costs. (CCTV News)
Trump has proposed the abolition of the Federal Emergency Management Agency and will sign the immigration bill
On January 24, local time, Trump said that he was reviewing the functions of the Federal Emergency Management Agency (FEMA) and said that he would recommend that the Federal Emergency Management Agency be abolished. Trump has said he will not provide additional assistance to North Carolina and California through the Federal Emergency Management Agency (FEMA), which he believes has failed in its responsibilities. Trump said he would sign the Lyken Riley Act, which is reportedly a strict immigration detention measure aimed at cracking down on people who enter the United States illegally and commit nonviolent crimes such as theft. (CCTV News)
The Trump administration freezes DOE spending and loans
According to a report by Bloomberg on January 24 local time, a memo from the acting secretary of the U.S. Department of Energy showed that the Trump administration has suspended spending, loans and other actions of the Department of Energy. According to the report, the order essentially froze the agency’s budget of about $50 billion. (CCTV News)
Putin: Russia is ready to negotiate on Ukraine
On January 24, local time, Russian President Vladimir Putin said that Russia is ready to negotiate on the Ukraine issue. Putin said that the Russian side has been informed of US President Trump’s statement that he is willing to cooperate, and the Russian side is open to cooperation. On the 23rd local time, U.S. President Trump said that he hoped to hold a meeting with Russian President Vladimir Putin as soon as possible to discuss the resolution of the conflict in Ukraine. (CCTV News).
South Korean prosecutors again applied for an extension of Yoon’s detention
After the Seoul Central District Court of South Korea made a decision not to approve the procuratorate’s application to extend the detention period of suspended President Yoon Suk-yeol on the evening of the 24th, the procuratorate applied for an extension of the detention of Yoon Suk-yeol again in the early morning of the 25th. (CCTV News)
