Hong Kong SAR Government: Net gold exports to mainland China in May were 26.722 tons

Data released by the Hong Kong Special Administrative Region Government showed that the net gold exports to mainland China in May were 26.722 tons, compared with 34.575 tons previously; the total gold exports to mainland China in May were 34.897 tons, compared with 43.261 tons previously.

The Ministry of Natural Resources plans to support the government in recovering idle land from real estate companies through special bonds

The Ministry of Natural Resources is working with relevant departments to study how to revitalize the policy of utilizing undeveloped land that has been transferred, and support local governments in recovering and purchasing idle land. As for the funds for land recovery, the Ministry of Natural Resources plans to provide financial support to local governments through special bonds, but requires local governments to act within their means and resolutely avoid adding new local government hidden debts. (Economic Observer)

Bowman: If the progress of inflation decline stagnates, he is still willing to raise interest rates

Federal Reserve Board member Bowman said that it is not the right time to cut interest rates yet, and the basic outlook is that inflation will return to 2% as the policy interest rate remains unchanged for "some time". If the progress of inflation decline stagnates or reverses, he is willing to support interest rate hikes at future meetings.

Li Qiang: The slowdown in world economic growth in recent years has a lot to do with some countries engaging in various forms of "decoupling and breaking chains" and "building walls and barriers".

Premier Li Qiang met with Klaus Schwab, Chairman of the World Economic Forum, in Dalian this morning. Li Qiang said that the current world economic recovery is weak, and it is particularly important to find new growth momentum. Future industries will be the most active force for global economic growth. Technological breakthroughs represented by artificial intelligence, biotechnology, green energy, etc. will create new tracks and new formats with high growth potential. China proposed to carry out the "artificial intelligence +" action, which is to inject stronger impetus into economic development through the extensive empowerment of artificial intelligence. Li Qiang pointed out that the slowdown in world economic growth in recent years has a lot to do with the various forms of "decoupling and breaking chains" and "building walls and barriers" by some countries. If the economies of various countries are connected, they will advance together, and if they are closed, they will retreat. We must adhere to an open mind, deepen mutually beneficial cooperation, and work together to find new frontiers for economic growth. It is hoped that the World Economic Forum will continue to play a positive role and safeguard economic globalization and free trade. Schwab said that in the current complex international situation, strengthening international cooperation is more important than ever. The World Economic Forum is committed to continuing to work closely with China to promote the stable and healthy development of the world economy and jointly respond to global challenges. (Xinhua News Agency)

The Ministry of Finance and other four departments issued a notice on the implementation of the financial interest subsidy policy for equipment renewal loans

The Ministry of Finance and other four departments issued a notice on the implementation of the financial interest subsidy policy for equipment renewal loans. It mentioned that if the loans issued by banks to business entities meet the conditions for re-loan reimbursement, the central government will subsidize the principal of bank loans of business entities by 1 percentage point. The interest subsidy will be granted from the date when the relevant loan funds are transferred to the supplier's account, and the interest subsidy period shall not exceed 2 years. During the period from the date of issuance of the "Notice of the State Council on Issuing the Action Plan for Promoting Large-Scale Equipment Renewal and Consumer Goods Trade-in" (Guofa [2024] No. 7) (March 7, 2024) to December 31, 2024, business entities that sign loan contracts, equipment purchases or renewal and renovation service procurement contracts, and the relevant loan funds are issued to business entities and transferred to supplier accounts, can enjoy the interest subsidy policy.

The policy is effective! 113,000 applications for vehicle scrapping and renewal subsidies have been received

Data released by the Ministry of Commerce shows that since the implementation of the action plan for promoting the trade-in of consumer goods in March, the policy has gradually shown results. As of 12:00 noon on June 25, the Ministry of Commerce's automobile trade-in information platform has received 113,000 applications for automobile scrapping and renewal subsidies. In the past week, the number of new subsidy applications has exceeded 36,000, showing an accelerating growth trend. In May, the national automobile retail sales volume was 2.271 million, an increase of 8.7% year-on-year; among them, the retail sales of new energy passenger vehicles increased by 38.5% year-on-year, the second-hand car transactions were 1.585 million, an increase of 5.9% year-on-year, and the scrapped car recycling volume was 523,000, an increase of 55.6% year-on-year. (Xinhua News Agency)

The Ministry of Housing and Urban-Rural Development and the State Administration of Financial Supervision jointly held a video conference on the policy training on guaranteed housing delivery

On June 24, the Ministry of Housing and Urban-Rural Development and the State Administration of Financial Supervision jointly held a video conference on the policy training on guaranteed housing delivery. The meeting pointed out that in order to further play the role of the urban real estate financing coordination mechanism and better meet the reasonable financing needs of urban real estate projects, it is necessary to consolidate the responsibilities of local governments, real estate companies, and financial institutions; improve the composition of the mechanism, improve the project push feedback management, and increase the efforts to repair projects; strengthen the review and approval of the "white list"; guide banks to provide financing support; and do a good job in summarizing and promoting experience.

China implements visa-free policy for New Zealand, Australia and Poland

China has decided to expand the scope of visa-free countries and implement a trial visa-free policy for people holding ordinary passports from New Zealand, Australia and Poland. From July 1, 2024 to December 31, 2025, people holding ordinary passports from the above countries can enter China visa-free for business, tourism, visiting relatives and friends, and transit for no more than 15 days. People from the above countries who do not meet the visa-free conditions still need to obtain a visa to China before entering. (Consular Express)

MPOA: Malaysia's palm oil production estimated to fall 6.3% from June 1 to 20

According to data released by the Malaysian Palm Oil Association (MPOA), Malaysia's palm oil production from June 1 to 20 is estimated to decrease by 6.3%, with a decrease of 5.28% in the Malay Peninsula, 7.18% in East Malaysia, 7.58% in Sabah, and 6.42% in Sarawak.

AmSpec: Malaysian palm oil exports from June 1 to 25 decreased by 16.94% month-on-month

According to Malaysia's independent inspection agency AmSpec, Malaysia's palm oil exports from June 1 to 25 were 891,570 tons, down 16.94% from 1,073,429 tons exported in the same period last month.

Heavy rainfall in Qitaihe City, Heilongjiang Province caused damage to more than 6,000 hectares of crops

The Office of the Flood Control and Drought Relief Headquarters of Qitaihe City, Heilongjiang Province, learned that Qitaihe City has been hit by continuous heavy rainfall since 20:00 on June 20. As of the 24th, the number of people affected was 7,610 and the area of ​​crops affected was 6,002 hectares. (Xinhua News Agency)

The amount of manganese ore arriving at the port has decreased, and the inventory of manganese ore in domestic ports has decreased slightly.

As of the week of June 20, the amount of manganese ore arriving at domestic ports has decreased, and the inventory of manganese ore in domestic ports has continued to decrease. Among them, the inventory of manganese ore in Tianjin Port is 3.631 million tons, a decrease of 6,000 tons from the previous month; the inventory of manganese ore in Lianyungang Port is 150,000 tons; the inventory of manganese ore in Qinzhou Port is 751,000 tons, a decrease of 11,000 tons from the previous month. The total inventory of manganese ore in various ports is 4.532 million tons, a decrease of 17,000 tons from the previous week. The current inventory of manganese ore in ports has dropped to a historical low. (Mysteel)

USDA Acreage Report Data Outlook

According to a Bloomberg survey estimate:

① The expected average soybean planting area in the United States in 2024 is 86.8 million acres, with an estimated range of 85.5-87.5 million acres. In the USDA's March 31 planting intention report, the expected value was 86.5 million acres;

② The expected average corn planting area in the United States in 2024 is 90.3 million acres, with an estimated range of 89.2-91.3 million acres. In the USDA's March 31 planting intention report, the expected value was 90 million acres;

③The expected average for all wheat plantings in the United States in 2024 is 47.7 million acres, with an estimated range of 47.1-49.7 million acres. In the USDA's March 31 planting intention report, the expected value was 47.5 million acres.

④ The expected average cotton planting area in the United States in 2024 is 10.8 million acres, with an estimated range of 10.5-11.2 million acres. In the USDA's March 31 planting intention report, the expected value was 10.7 million acres.

USDA quarterly inventory report outlook

Bloomberg estimates that for the quarter ending June 1, 2024:

① U.S. soybean stocks are expected to be 963 million bushels. As of March 1, 2024, the stock will be 1.845 billion bushels, and as of June 1, 2023, the stock will be 796 million bushels.

② U.S. corn stocks are expected to be 4.874 billion bushels. As of March 1, 2024, the stock will be 8.347 billion bushels, and as of June 1, 2023, the stock will be 4.103 billion bushels.

③ U.S. wheat stocks are expected to be 683 million bushels. As of March 1, 2024, the stock will be 1.087 billion bushels, and as of June 1, 2023, the stock will be 570 million bushels.

The total inventory of imported iron ore in 45 ports in China was 148.462 million tons, an increase of 1.01 million tons from last Monday

On June 25, Mysteel statistics showed that the total inventory of imported iron ore in 45 ports in China was 148.462 million tons, an increase of 1.01 million tons from last Monday, and the total inventory in 47 ports was 155.052 million tons, an increase of 1.3 million tons from last Monday. During the period, the arrival of iron ore at ports rebounded, and the amount of iron ore unloading and storage increased, resulting in an accumulation of imported ore inventories at ports compared with last Monday. This week, the inventory increase in the Yangtze River and North China regions was relatively obvious, while the increase in inventory in Northeast China and South China was relatively moderate, while the inventory in East China continued to decline as the arrival of iron ore in the region declined.

The article is forwarded from: Jinshi Data