Daily Macro Economy News on July 4

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Domestic News

1. Shandong Provincial Department of Science and Technology: Aiming to cultivate about 1000 high-tech enterprises in green and low-carbon fields by 2025

2. SAIC Group sells 86,000 new energy vehicles in June, showing a month-on-month increase of 13.1%

3. Electrolytic aluminum enterprises in Sichuan Province are running steadily for the time being

4. Beijing launched 15 measures to stabilize the employment market and support enterprises to stabilize and expand employment

International News

1. Inflation falls slowly, ECB is expected to raise the terminal rate forecast to 4%

2. Gazprom: Gas shipments to Europe via Ukraine will continue, with a volume of 41.1 million cubic meters on Monday

3. Swiss inflation falls below target, but the Swiss Central Bank may tighten monetary policy further

4. Swiss Federal Statistical Office: The Swiss CPI recorded a monthly rate of 0.1% in June due to several factors, including an increase in the prices of fruits and vegetables as well as brassicas

More detials:

Domestic News

1. Shandong Provincial Department of Science and Technology: Aiming to cultivate about 1000 high-tech enterprises in green and low-carbon fields by 2025

Shandong Provincial Department of Science and Technology in conjunction with the Shandong Provincial Development and Reform Commission and other 8 departments issued  Actions on Technical Supporting Work for Carbon Peak in Shandong Province. According to the action, by 2025, Shandong will achieve a number of breakthroughs in key areas and stranglehold problems in green low-carbon development, and significantly improve the core competitiveness of the green industries. By doing that, we will cultivate and guide about 1,000 high-tech enterprises in the field of green low-carbon, and build 5-8 green industry clusters with large scale, strong innovation capability, and completed industrial chains. Meanwhile, we will introduce 3-5 national "high-end and professional" innovative foreign talents and teams, focusing on training 8-10 major core key technology talent teams. Make sure that the construction and support capacity of the green low-carbon circular economic development system will be greatly improved.

2. SAIC Group sells 86,000 new energy vehicles in June, showing a month-on-month increase of 13.1%

SAIC Group sold 86,000 new energy vehicles in June, up 13.1% compared to the previous month, reached a record high this year, and ranked second among Chinese automakers in new energy vehicle sales. In the first half of this year, SAIC's new energy vehicle sales hit new highs every month, with sales of more than 230,000 new energy vehicles in the second quarter, up 61.9% compared to the first quarter.

3. Electrolytic aluminum enterprises in Sichuan Province are running steadily for the time being

SMM researched a number of electrolytic aluminum plants in Sichuan Province and was informed that the electrolytic aluminum enterprises in Sichuan Province are running steadily, and showing no power restrictions or production cuts currently. According to SMM data, Sichuan Province has a total of about 1.2 million tons of electrolytic aluminum production capacity, the current provincial operating capacity is stable in the vicinity of 1.02 million tons. SMM will continue to pay attention to the local power situation and the operation of electrolytic aluminum enterprises.

4. Beijing launched 15 measures to stabilize the employment market and support enterprises to stabilize and expand employment

The Beijing Human Resources and Social Security Bureau said that the Beijing Municipal Leading Group of Employment Work issued the Notice on Optimizing and Adjusting Employment Stabilization Policies to Promote the Development of People's Livelihood, based on the implementation of the central government's decision and deployment on employment stabilization, combined with Beijing's actual situation, stimulates vitality to expand employment capacity, widen channels to promote employment and entrepreneurship of college graduates and other young people, strengthens support to hold the bottom line of people's livelihood. The government has proposed 15 specific measures in four aspects to promote the overall stability of employment. (Resource: CNN)

International News

1. Inflation falls slowly, ECB is expected to raise the terminal rate forecast to 4%

Morgan Stanley on Monday raised its forecast for the European Central Bank's terminal interest rate to 4% after inflation data for the eurozone in June showed that underlying inflation fell only slightly. Morgan Stanley previously expected the ECB's main interest rate to peak at 3.75% in July after a 25 basis point increase. Morgan Stanley indicated, "We updated our inflation forecasts following the release of June inflation data and also took into account the latest comments from policymakers at the ECB's annual forum in Sintra, and in light of this we have revised our ECB rate forecasts and now expect a terminal rate of 4%."

2. Gazprom: Gas shipments to Europe via Ukraine will continue, with a volume of 41.1 million cubic meters on Monday

Gazprom: Gas shipments to Europe via Ukraine will continue, with the volume of 41.1 million cubic meters on Monday.

3. Swiss inflation falls below target, but the Swiss Central Bank may tighten monetary policy further

Swiss inflation fell below the 2% target ceiling set by the Swiss central bank, providing limited comfort to officials who have already hinted at a possible further tightening of monetary policy. CPI rose 1.7% in June from a year earlier, down from 2.2% in the previous month, as energy costs fell from a year earlier. Underlying inflation, which excludes these uncertainties, also fell to 1.8%, according to the Swiss Statistical Office. While Swiss inflation has been at its lowest level among OECD members since the energy crisis began, the figures will still give central bank officials some comfort that consumer prices have not yet spiraled out of control. Even so, the Swiss central bank has indicated that it is likely to raise interest rates again. Policymakers predict that inflation will rebound to 2% by the end of this year and then stay above that level until early 2026.

4. Swiss Federal Statistical Office: The Swiss CPI recorded a monthly rate of 0.1% in June due to several factors, including an increase in the prices of fruits and vegetables as well as brassicas

Swiss Federal Statistical Office: The Swiss CPI recorded a monthly rate of 0.1% in June due to several factors, including an increase in the prices of fruits and vegetables as well as brassicas. Rental prices for hotels and private transport also rose. In contrast, the prices of air transport and drupes as well as gasoline and diesel fuel decreased.

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