Category: Fashion

Recently, “Made in Japan” has encountered another crisis.

According to CCTV News, on April 24th local time, a large Japanese heavy industry company, IHI, announced that its subsidiary, IHI Prime Motors, had tampered with fuel data for ships and onshore engines. In order to make the test data look more “beautiful”, the company has produced 5537 engines for ships and other equipment since 2003,

On the 25th, the Japanese Ministry of Land, Infrastructure, Transport and Tourism has entered two factories of IHI Prime Motors located in Gunma and Niigata prefectures to investigate engine data tampering. It is reported that the former may have been falsified since 2001,

Chen Yan, Dean of the Research Institute of Japanese Enterprises (China), told First Financial that Japan has three major heavy industry giants

IHI相关产品（来源：公司官网）

Starting from the shipbuilding industry

According to Japanese media reports, the issue exposed this time originated from reports by internal personnel of the company. At present, IHI Prime Motor Company has mainly engaged in fraud in two aspects, namely engine fuel consumption data measured during testing before shipment, and engine gas emissions. Among them, the falsification of engine fuel consumption data is not difficult to understand. For example, among similar products, products with lower unit fuel consumption are more likely to be favored by buyers. The falsification of engine gas emissions is a significant blow to IHI Prime Motors, which focuses on “green” as its selling point and attraction.

It is reported that the problematic product is not only used for ships, but also involves trains and power generation equipment. The Japan Coast Guard and Hokkaido Railway Company are IHI’s customers who use the company’s products carrying problematic engines. In addition, there are 43 emergency generators used in nuclear power plants. At present, the manufacturer has stated that they have not received any reports of safety issues with the relevant products.

In response to the issue of data fraud, the Japanese Ministry of Land, Infrastructure, Transport has requested companies to conduct self inspection and rectification, and submit a report by the end of May. This measure has temporarily prevented the delivery of engines manufactured by IHI.

What impressed Chen Yan deeply about the data tampering scandal exposed by IHI this time was that the duration of the fraud lasted for 30 years from the 1980s to the present day; Secondly, the number of counterfeits is also quite large, with problematic engines accounting for up to 79%. “These devices are mostly used on ships, but fortunately, we have not yet seen major mechanical accidents caused by counterfeits, which are basically limited to the adjustment of energy consumption figures. If an accident occurs, the consequences are unimaginable.”

According to company website information, IHI was founded in 1853 and initially only built a shipyard near Ishikawa Island. It has been around for over 160 years. After World War I, the company began to enter the automotive and aircraft manufacturing business and continued to grow through various mergers and acquisitions. In 2007, it was renamed from Ishikawa Shima Harima Heavy Industries Co., Ltd. to the current IHI. In its 160 year history, IHI has set multiple “firsts”, such as manufacturing Japan’s first civilian steamship, Japan’s first liquefied natural gas (LNG) storage tank, and the world’s longest suspension bridge – the Akashi Strait Bridge.

From the perspective of the company’s business scope, IHI is actually involved in various fields such as engineering machinery, aviation, and marine economy, but engines are relatively the main business sector. In addition to manufacturing aviation engines, IHI also undertakes maintenance work for aviation engines and is an important supplier of military defense products in Japan.

Of course, as the market changes, IHI is also responding flexibly and adjusting its industrial layout. For example, the aerospace industry used to only account for 2% of the company’s overall share in 1965, but now it is the most profitable industry for the company. IHI was the first to participate in the development of Japan’s aerospace technology, designing and producing the core components of rocket engines. For example, the small rocket Epsilon, which has attracted much attention from various sectors in Japan, and Japan’s first private rocket Space One KAIROS, are all developed with the participation of IHI’s aerospace department.

The latest news shows that on April 19th, IHI announced progress in the development of hydrogen fuel cells and aircraft electrification technology. The company stated that these two technologies are related to Japan’s next-generation aircraft development project and will continue until 2029. “This zero emission device can provide power for an electric aircraft with over 40 seats and a cruising time of over 3 hours.”

Manufacturing scandals dragging down the economy

In fact, IHI’s subsidiary’s alleged tampering with engine data is not the first scandal related to Japanese manufacturing. In recent years, various violations and fraud scandals have occurred among Japanese manufacturing companies.

According to Xinhua News Agency, on January 29th this year, Toyota Motor Co., Ltd., a subsidiary of Japanese car giant Toyota, revealed that four engines produced by Toyota Automatic Loom Company had “falsified exhaust emission test data”, and Toyota decided to stop the shipment of related diesel vehicles. At the end of December last year, Daihatsu Industries, a subsidiary of Toyota, admitted to 174 violations and will suspend the shipment of all models currently being produced domestically and internationally. Previously, Dafa was also exposed to have falsified data from car side impact safety tests. The report released by the third-party investigation committee at that time showed that the problem of data fraud by Dafa Industrial Company had a long history, but since 2014, there have been group violations. The report also alleges that the on-site manager was forced to commit fraud under multiple pressures such as production schedules and cost control.

In 2021, Mitsubishi Electric was exposed to have falsified product inspection data, which could last for up to 30 years; In the same year, pharmaceutical company Kobayashi Chemical was also exposed for fraud, with over 200 patients experiencing varying degrees of health damage after taking the company’s drugs. In August 2017, Kobe Steel, a Japanese steel company, was deeply embroiled in a “fraud scandal” and was exposed for tampering with data and using substandard products as substitutes. At that time, Kobe Steel admitted that the related products were used to make cars, Shinkansen, and airplanes, and were delivered to a total of about 500 domestic and foreign customers, involving numerous industries such as automobiles, railways, aviation, aerospace, etc

Chen Yan told First Financial that the outside world has always had great trust in the products of Japanese companies, but now not only small and medium-sized enterprises, but also large enterprises such as Toyota are frequently embroiled in fraud scandals. “When companies no longer pursue quality and authenticity, and cannot achieve good quality and energy-saving models, choosing to maintain the surface through fraud will bring huge distrust of Japanese products to society. This is a major problem that Japanese companies must solve.” he said.

Chen Yan emphasized that, especially when Japanese manufacturing is facing increasing international challenges in terms of price, brand, quality, etc., and when Japan’s industrial production capacity is in a downward trend, such as limited manufacturing costs and time, the subsequent response of enterprises is worth watching. He hopes that Japanese companies can continue to maintain a stable production mode in the current competitive environment, rather than just pursuing superficial data.

Some interviewees, who declined to be named, told First Financial that this is due to both the Japanese corporate culture and the lack of innovation drive among Japanese companies. “For example, there is a gap between modern corporate governance concepts and traditional Japanese corporate culture and management concepts, which has led to many problems for Japanese companies in pursuing short-term profits and long-term business strategies.”

While Japan’s manufacturing industry is deeply embroiled in various scandals, the Japanese economy is also being dragged down to some extent. The results of the Bank of Japan’s short-term economic observation survey released on April 1st this year showed that the confidence index of large manufacturing companies in Japan fell from 13 in December last year to 11 in March, marking the first decline in four quarters.

Analysis suggests that in addition to the impact of the earthquake on the peninsula at the beginning of the year, the shutdown of some Toyota car factories due to a fraud scandal was also one of the reasons for the decline in confidence. According to segmented industries, the confidence index of automotive manufacturing companies has significantly declined from 28 in December last year to 13.

Chen Yan believes that if “Made in Japan” cannot timely and fundamentally address the problem and restore its reputation, it will have a long-term impact on the development of enterprises and the Japanese economy.

The International Monetary Fund (IMF) stated in its latest World Economic Outlook in April that due to the disappearance of one-time factors supporting growth in 2023, such as a surge in inbound tourism, it is expected that Japan’s economic growth rate will slow down from 1.9% in 2023 to 0.9% this year, and 1% in 2025.

Last week, the international market was volatile, with concerns about stagflation in the US economy and the Japanese yen continuing to hit a historic low.

In terms of the market, the US stock market has stabilized and rebounded, with the Dow Jones Industrial Average up 0.67%, the Nasdaq up 4.23%, and the S&P 500 index up 2.67% for the week. The three major European stock indexes also performed well, with the FTSE 100 index in the UK rising 3.09%, the DAX 30 index in Germany rising 2.39%, and the CAC 40 index in France rising 0.82%.

There are many highlights to watch this week, with the Federal Reserve’s interest rate meeting attracting widespread attention. Due to ongoing inflationary pressures, expectations of rate cuts have been suppressed, and the latest non farm payroll report will receive widespread attention. The Japanese yen has hit a new low since 1990, and attention is being paid to whether the Bank of Japan will intervene. The Eurozone will release data such as Consumer Price Index (CPI) and Gross Domestic Product (GDP), which is expected to further consolidate the prospect of interest rate cuts in June. The Berkshire Hathaway shareholder meeting will be held over the weekend, and the “stock god” Buffett will have on-site discussions with investors.

(‘Will the Federal Reserve cut interest rates this year? (Source: Xinhua News Agency)’,)

Can non-agricultural sectors reignite hope for interest rate cuts

This week, the Federal Reserve will hold a meeting on interest rates, and the market generally expects the federal funds rate to remain unchanged. However, the outside world will closely monitor the details of the resolution statement to seek any signals of the prospect of interest rate cuts this year.

Recent data shows that the inflation rate in the United States is still rising. At the same time. Federal Reserve officials have repeatedly stated that rate cuts will not happen soon, and even the possibility of rate hikes cannot be completely ruled out.

In terms of data, the April non-agricultural employment report has become the focus, and employment demand and wage growth have become key influencing factors for the next direction of monetary policy. The institution predicts that the unemployment rate in April will approach 210000, a significant decrease from over 300000 in March. The unemployment rate is expected to remain at 3.8%, and the average hourly wage growth may continue to be above 4%.

Prior to the announcement of non farm payroll, private employment data for ADP4 and job vacancy data for JOLT in April will also provide reference for external evaluations of the job market. In addition, noteworthy data include the first quarter employment cost index, April consumer confidence index of the consulting firm, Chicago PMI, and March trade accounts. The ISM non manufacturing index will reflect whether the service industry can stabilize, and weak performance may offset the potential strong employment data and the hawkish bias of the Federal Reserve.

The financial reporting season is in full swing. This week, two major technology giants, Apple and Amazon, will release financial reports. Other noteworthy companies include Qualcomm, Pfizer, Lilly, Starbucks, Coca Cola, etc. Berkshire will hold a shareholder meeting over the weekend and release the latest results.

Crude oil and gold

International oil prices have ended two consecutive weeks of decline. The WTI crude oil near month contract rose 1.98% to $83.85 per barrel, while the Brent crude oil near month contract rose 2.53% to $89.50 per barrel.

Seven Report Research believes that with WTI crude oil prices around $80, there must still be geopolitical fear in the market here. “With the escalation of the Middle East situation between Israel and Iran to a more stable level, geopolitical concerns have eased from the most tense level in early April. As consumer demand for gasoline has been declining in recent weeks, and OPEC+has not made any changes to production policies for a period of time, WTI’s downward space is limited.”

StoneX stated that the market is currently looking forward to the latest supply and demand dynamics, and this quarter should still be relatively tight.

Nevertheless, monitoring the situation in the Middle East remains important to determine whether tensions will further escalate and lead to larger regional conflicts.

Due to inflation indicators suppressing expectations of interest rate cuts, international gold prices have weakened. COMEX gold futures for April delivery on the New York Mercantile Exchange fell 2.65% on the week to $2334.80 per ounce.

Gold has traditionally been considered a tool to hedge against inflation, but high interest rates have reduced the attractiveness of holding gold. The German commercial bank stated in a report that the recent easing outlook from the Federal Reserve has more or less been reflected in gold prices. If the situation is no longer like this and expectations of a later recovery in US interest rates are deeply ingrained, gold may further decline.

European inflation is expected to strengthen the prospect of easing

The data released last week showed a significant rebound in the Eurozone’s Purchasing Managers Index (PMI) in April, with regional economic activity expanding at its fastest pace in nearly a year. Optimism remained strong, and corporate recruitment numbers also increased.

Based on recent statements from European Central Bank officials, unless the salary data at the end of May significantly exceeds expectations, there is no suspense of a rate cut in June, but there is uncertainty in the interest rate path thereafter. At present, the pricing of the European Central Bank’s interest rate cut at the end of the year has dropped to below 75 basis points (about 3 times), and the German central bank governor, Nagel, has also warned that there may not be a series of further interest rate cuts after the June rate cut.

This week, the Eurozone will release the initial CPI inflation data for April, as well as the first quarter GDP. The Eurozone’s April business and consumer surveys may provide clues to the economic performance at the beginning of the second quarter. The market predicts that the year-on-year growth rate of inflation this month will remain at 2.4%, as the downward pressure of core inflation may have been offset by fluctuations in energy prices.

By contrast, the Bank of England’s interest rate cut may not come soon. The Chief Economist of the Bank of England, Huw Pill, stated last week, “Although we have made satisfactory progress in restoring inflation rates to target levels, we are closer to a possible interest rate cut. However, in my baseline scenario, there is still some way to go before bank interest rates are lowered. The Monetary Policy Committee will need to maintain a certain degree of tightening to eliminate persistent factors in the system; we are now seeing downward signs of sustained strength in the inflation dynamics.”

Investors can focus on mortgage approval and consumer credit data for March in the UK this week to understand the health of the real estate market and consumers. In addition, the UK’s manufacturing PMI and service PMI for April will be announced on Wednesday and Friday, respectively.

Highlights of this week

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Last week, the US stock market ended its continuous adjustment since April, and the strong performance of Google and Microsoft drove technology stocks back, overshadowing the interest rate panic caused by inflation indicators.

In the coming week, the Federal Reserve’s decision will be held as scheduled, and the flow of funds shows that concerns about the prospect of interest rate cuts have caused net outflows from US stock funds for the fourth consecutive week. At the same time, the financial reports of multiple technology companies will continue to test the sustainability of the artificial intelligence boom. Against the backdrop of sustained high US bond yields, uncertainty will continue to plague the US stock market at the end of the month.

(‘Can the US stock market weather the turbulence of April safely? (Source: Xinhua News Agency image)’,)

The Federal Reserve faces new challenges

The data released last week showed that the US economy grew at its slowest pace in nearly two years in the first quarter. Consumer spending remains strong, however, imports have widened the trade deficit, while the slowdown in corporate inventory accumulation and a decrease in government spending have also dragged down GDP.

However, the shadow of inflation has strengthened the market’s expectation that the Federal Reserve will not cut interest rates before September. The Personal Consumption Expenditure Price Index (PCE), which excludes food and energy, grew by 3.7% in the first quarter, far higher than the 2.0% in the fourth quarter of last year. Subsequently released data for March showed that the overall PCE would accelerate by 0.2 percentage points to 2.7%, with a core PCE growth rate of 2.8% excluding volatile food and energy components, which remained unchanged from the previous value.

Bob Schwartz, senior economist at the Oxford Institute of Economics, said in an interview with First Financial reporters that trade accidents have become a drag on the economy. Due to strong consumer demand, the prospect of import growth this year may keep the deficit level high and continue to drag down economic growth, but the impact is expected to gradually decrease. Regarding the inflation outlook, Schwartz believes that the overall PCE in March met expectations, and the first quarter data was mainly affected by seasonal factors at the beginning of the year, with core inflation indicators expected to gradually stabilize. He said,

The upward trend of medium – and long-term US Treasury bonds continues, with the 2-year US Treasury bond closely related to interest rate expectations close to the psychological barrier of 5%. The benchmark 10-year US Treasury bond is at 4.67%, with a cumulative increase of nearly 48 basis points since the beginning of this month. According to federal funds rate futures, the probability of the Federal Reserve remaining stagnant in July is 70%, and the likelihood of a rate cut in September is slightly lower than 60%.

This week, the Federal Reserve will hold a meeting to discuss interest rates. Federal Reserve Chairman Powell made an appearance on the eve of the silent period, stating that intensified inflation may have delayed interest rate cuts, and his views have been supported by several members of the Federal Open Market Committee (FOMC).

According to Olu Sonola, head of economic research at Fitch, recent data has been mixed. If growth continues to slow down but inflation continues to grow strongly in the wrong direction, then the expectation of the Federal Reserve cutting interest rates in 2024 is becoming increasingly unattainable. Jussi Hiljanen, chief strategist of SEB Research interest rates, believes that since the beginning of the year, especially in April, the sharp repricing of the US treasury bond bond market has been driven by a “perfect storm”, in which the strengthening of US macro indicators and the rise of inflation coincided with the hawkish remarks of the Federal Reserve.

Schwartz told First Financial that it is difficult to see the Federal Reserve having enough confidence to quickly cut interest rates. He expects Powell to be asked about inflation and its impact on interest rates, whether the Federal Reserve will consider raising interest rates, and other issues. “Powell is likely to maintain his previous stance of maintaining flexibility in monetary policy and maintaining this year’s interest rate cut.” Schwartz predicts that the Federal Reserve may cut interest rates in September and December this year, respectively.

The market has not yet emerged from danger

Faced with the uncertainty brought by inflation to the Federal Reserve’s interest rate cut, optimistic financial reports from multiple sector companies last week supported the market.

At present, the profit growth rate of S&P 500 index constituent stocks in the first quarter of 2024 is 5.6% year-on-year, which has increased compared to before the start of the financial reporting season. About 78% of corporate reports exceeded analysts’ profit expectations, with the communication services industry accounting for 90% and the technology industry accounting for 88%. The two major sectors also saw the largest gains in the past week, with Nvidia, the leader in the artificial intelligence industry, rising over 15% on the week and expected to recover from losses this month.

Tom Plumb, President and Chief Portfolio Manager of Plumb Funds, said that Microsoft and Google’s profit reports have eased concerns that Meta’s data center and artificial intelligence spending will compress profits. “Google and Microsoft have both stated that based on their current capital plans, they still expect profit margins to expand. This alleviates many of the challenges of data computing growth,” he added.

According to data provided by the London Stock Exchange (LSEG) to First Financial reporters, US stock funds had a net outflow of $1.2 billion last week due to the cooling expectations of the Federal Reserve’s easing. Investors chose to leave for the fourth consecutive week, but the pace of selling has slowed down, providing some support for the optimistic sentiment of large technology companies in the market. The outflow of money market fund funds has reversed, with a net inflow of 5.6 billion US dollars.

In the next week,

Jiaxin Wealth Management stated in its market outlook that the dominant factor for the market rebound is the oversold technical indicators, and another factor is the impressive profit results of large technology companies. Although ASML’s performance is lackluster and Chaowei Computer has not released guidelines to raise concerns about the long-term growth prospects of artificial intelligence, these profit reports indicate that industry investment remains strong.

The institution believes that the market will still be affected by a lot of uncertainty in the future, and investors will continue to search for artificial intelligence technology and investment development from Amazon, AMD, and Chaowei computer financial reports, as well as Federal Reserve resolutions and non farm payroll reports. “Given the market’s recent sensitivity to yield volatility, its trend changes are crucial for the US stock market.”

On April 28th, the reporter learned from the 2024 China Mobile Computing Network Conference that China Mobile will open its intelligent computing centers located in Harbin, Hohhot, and Guiyang in 2024. The three intelligent computing centers will provide a total of nearly 60000 core computing resources for AI acceleration cards.

Zhang Pengfei, Manager of the Business Support Department of China Mobile’s Planning and Construction Department, told reporters that China Mobile has officially launched 12 intelligent computing centers nationwide, covering tasks such as data processing, model development, model training, and model inference. According to China Mobile, the company’s intelligent computing center located in Hohhot, which has been put into operation, is the world’s largest single intelligent computing center, deploying about 20000 AI acceleration cards. The localization rate of AI chips exceeds 85%, and the scale of intelligent computing power is 6.7 EFLOPS (67 billion floating-point operations per second), filling the huge gap in computing power required for the widespread application of artificial intelligence in China.

Yang Jie, Chairman of China Mobile Communications Group Co., Ltd., stated at the conference that the acceleration of the integration of new generation information technology into the economy, society, and people’s livelihoods has triggered a new round of deep and structural changes in computing infrastructure, following cloud computing, presenting three trends. One is the diversification of computing power, the second is the integration of computing networks, and the third is the full domain AI.

Yang Jie stated that artificial intelligence, as the most revolutionary technological force at present, will reshape the service form and operation mode of computing infrastructure in the system. On the one hand, the load of computing infrastructure will change from Internet applications to AI native applications such as general university model, AI agent, bit wise man, humanoid robot, etc. On the other hand, the operation of computing power infrastructure will deeply integrate intelligence, forming AI native capabilities such as global resource perception, natural language interaction, AI assisted programming, and system self agency, significantly improving the level of large-scale, high-performance, and low-energy computing power supply, and assisting the innovation of “artificial intelligence+” applications in the whole society.

Regarding China Mobile’s future planning in the field of AI intelligent computing, Yang Jie stated that China Mobile will focus on the entire process of AI big model research and development, deployment, and application, accelerate the adaptation of domestic intelligent computing cards and collaborative training of multiple intelligent computing centers, and provide integrated services of data, computing power, and training and promotion. China Mobile is collaborating with advanced manufacturing enterprises such as Lixun Precision and Hengtong Optoelectronics to create a number of benchmark projects for AI empowering new industrialization.

The reporter found that starting from 2023, the procurement demand for cloud computing power by operators has stabilized, and the demand growth rate is no longer the same as in previous years. The reason for the data change is that operators have new plans for their layout in computing power. The outbreak of AI has increased the proportion of intelligent computing power in the global computing power market, while the proportion of general computing power has declined. Despite the current large scale of general computing power in China, intelligent computing power is relatively insufficient. In this context, the three major operators have recently made statements in public to layout AI computing power.

The bidding for the procurement of AI servers by China Telecom has been completed recently, with a total of 4175 training servers purchased, with an estimated procurement amount of approximately 8.4 billion yuan; China Unicom’s first centralized procurement of AI servers at its headquarters. On March 23, 2024, China Unicom issued a pre qualification announcement for the 2024 China Unicom Artificial Intelligence Server Centralized Procurement Project, which will purchase a total of 2503 artificial intelligence servers and 688 key networking equipment ROCE switches. The estimated procurement amount is 4 billion yuan.

China Mobile has recently launched the centralized procurement of new intelligent computing centers from 2024 to 2025. According to bidding data, the hardware scale collected in this round has reached 8054 units, including 7994 artificial intelligence servers and supporting products, and 60 white box switches. Previously, China Mobile also released the 2023-2024 new intelligent computing center (experimental network) centralized procurement project, with a total of 2454 AI training servers purchased for 12 packages. The total scale of two centralized purchases of artificial intelligence servers exceeded 10000 units.

ByteDance: there is no plan to sell TikTok

On the evening of April 25, ByteDance sent a document saying that the news about ByteDance exploring the sale of TikTok by foreign media was untrue, and ByteDance had no plan to sell TikTok. Previously, The Information reported that ByteDance was exploring a plan to sell most of the equity of TikTok’s US business, preferably to companies outside the technology industry, and did not include algorithms that recommend videos to TikTok users.

Comment: Previously, spokesperson for the Ministry of Foreign Affairs, Wang Wenbin, responded to the ban on TikTok by stating that the ban placed the United States on the opposite side of the principle of fair competition and international economic and trade rules. If the so-called “national security” reason could be used to arbitrarily suppress excellent enterprises in other countries, then there would be no fairness and justice. When you see someone else’s good things, you have to find ways to take them for yourself, which is completely a thief’s logic.

Shen18, carrying three “80s generation” individuals, set sail for the first time to raise “pet” fish in space

On April 25th, the Shenzhou 18 manned spacecraft carried three “80s generation” astronauts, Ye Guangfu, Li Cong, and Li Guangsu, into space. Shenzhou 18 will also focus on zebrafish and goldfish algae as research objects and implement the first in orbit aquatic ecological research project in China. The press conference of the Shenzhou-18 manned flight mission revealed that China will urgently research and promote the participation of foreign astronauts and space tourists in space station flights. At the same time, the construction of the Wenchang manned lunar exploration launch site has been fully launched and implemented. It is reported that the manned lunar exploration project’s lunar landing phase mission will be approved and implemented by the central government in 2023. The overall goal is to achieve Chinese landing on the moon by 2030, and various systems are currently being developed and constructed according to plan.

Comment: Building a Chinese space station and conducting long-term and large-scale space science and technology experiments with human participation can greatly promote the comprehensive development of space science, space technology, and space applications, and radiate and drive technological progress in related industries. The successful launch of Shenzhou 18 marks another significant progress in China’s aerospace field and a step closer to future moon landing plans.

Price increase of some storage products after the Taiwan earthquake

Since April, many earthquakes have occurred in Hualien County, Taiwan, China, China, causing the market to worry about semiconductor supply disruption and price fluctuations. The reporter visited Huaqiangbei and learned that the main cause of recent price fluctuations is storage chips. Some merchants have reported a 10% to 20% increase in storage product prices since April, which may be related to the impact of the Taiwan earthquake on supply. However, some merchants have also stated that the recent price changes of storage products have not been significant or even declined, which is due to the lack of a significant recovery in demand for electronic products.

Comment: After the previous round of semiconductor downturn, the overall semiconductor demand is still waiting to rebound. There are many market influencing factors, and supply side fluctuations may not be able to quickly transmit to terminal prices. Jibang Consulting predicts that the impact of the Taiwan earthquake on DRAM bit output in the second quarter of this year will be less than 1%. Due to the impact of the earthquake on Micron, which is mostly concentrated in advanced processes, it cannot be ruled out that the final transaction price of its server DRAM may increase. In addition. Recently, the semiconductor industry has also released some signals of a slowdown in recovery. Reduce the growth rate of the semiconductor industry, excluding memory, to 10% for the entire year of 2024, compared to previous expectations of over 10%.

95 game licenses approved in April

On April 26th, the State Administration of Press and Publication announced the approval information for domestic online games in April 2024, with a total of 95 games approved and an additional 47 game change approval information. Products worthy of attention include Tencent’s public welfare game “Carbon Island”, NetEase’s new shooting product “Broken Land”, Kwai’s “Endless Dreams”, Sony’s China Star’s focus product “Lost Soul”, etc. Among them, “The Broken Land” was originally a self-developed product by NetEase’s Beiluoshimen Studio, codenamed 56. It is understood that this project is NetEase’s flagship shooting product this year, focusing on the Chinese style wasteland themed PVE adventure shooting experience. The official will start a new round of testing in the near future, supporting multi port interoperability for iOS, Android, and PC.

Comment: Since the beginning of this year, a total of 428 domestic online game versions have been released, and the quantity has remained stable. In terms of the number of approved games, compared to the 107 batches in March, 111 batches in February, and 115 batches in January, the number of version numbers in the April batch has decreased, but there is still a significant improvement compared to the same period last year.

Microsoft’s new quarter financial report exceeded expectations, and artificial intelligence investments were reviewed

On April 26th, Microsoft released its financial report for the third quarter of the 2024 fiscal year (as of March 31, 2024). After the financial report was released, Microsoft’s stock price rose by over 4% after trading. According to the financial report, Microsoft’s revenue for the previous quarter was $61.9 billion, a year-on-year increase of 17%. The net profit was 21.9 billion US dollars, an increase of 20%. The revenue of Microsoft’s intelligent cloud division was $26.7 billion, a year-on-year increase of 20%. The revenue from server products and cloud services increased by 24%, driving a 31% increase in revenue from Azure and other cloud services. Azure and other cloud service revenue have not yet recovered to the growth rate of fiscal year 2022, with growth rates of 50%, 46%, 46%, and 40% for the four quarters of fiscal year 2022, respectively. However, Microsoft’s investment in artificial intelligence has also been scrutinized. On April 24th, the UK competition regulator announced that it is reviewing Microsoft’s investment in French company Mistral.

Comment: Since 2023, Microsoft has partnered with startup OpenAI to increase its investment in large models and artificial intelligence technology, which has also boosted the company’s stock price. As of the release of its financial report, Microsoft’s stock price is $399.04, with a market value close to $3 trillion. Subsequently, Microsoft announced the progress of multiple artificial intelligence technology products. On April 23rd, Microsoft launched the small model Phi-3-mini, which will be available in the Microsoft Azure AI Model Catalog, Hugging Face (Machine Learning Model Platform), and Ollama (Lightweight Framework for Running Models on Local Computers).

Venture Capital Vanguard

According to Tianyancha data, there were a total of 60 investment and financing events this week; From the industry distribution of financing events, the number of events related to production and manufacturing, medical and health, and advanced manufacturing ranks among the top, with 16, 12, and 7 events respectively; From the perspective of the number of times investment and financing institutions have made moves, investment institutions are becoming increasingly diversified, including Shuimu Venture Capital and Yinggang Capital.

Among them, there were a total of 12 financing events in the medical and health industry; From the perspective of rotation, there are mainly 2 events, including Angel Wheel, Pre-A Wheel, A Wheel, and A+Wheel; In terms of financing amount, Shanghai Xinlv Pharmaceutical R&D Group, Xinyi Biotechnology, Nafei Health, Lannacheng Biotechnology, and Xiyuan Anjian have financing amounts exceeding 100 million yuan; From the perspective of investment institutions, including Chuanhua Group and Tailong Investment, all have invested.

This week, there were a total of 3 financing events in the artificial intelligence industry. From the perspective of rounds, angel+, A+, and B+rounds were all involved; In terms of financing amount, Aishi Technology and Mimo Zhixing have raised over 100 million yuan. Among them, the smart residential brand Habit @ Habitat announced the completion of angel round and Pre-A round financing, with a cumulative amount of 653 million yuan. The Pre-A round was led by Ideal Automobile, with investors such as Stone Technology and New Taipei Science and Technology Innovation Fund joining in. Founder Shen Yanan, as co-founder and CEO, led Ideal Automobile from scratch to a successful IPO.

This week, there were a total of 7 financing events in the advanced manufacturing industry; From the perspective of rounds, angel round and Pre-A are the main financing events, with two financing events each; In terms of financing amount, Renxin Technology’s financing amount is nearly 100 million yuan; From the perspective of investment institutions, Jinshajiang United Capital, Amara Investment, and others have all made efforts.

There have been a total of 2 financing events in the automotive transportation industry; From the perspective of rounds, both angel rounds and strategic financing are involved; From the perspective of investment institutions, Shunwei Shares and others have all made moves.

On April 28th, Zhao Zenglian, Deputy Director of the General Administration of Customs, met with a delegation of Chinese Nationalist Party representatives led by Fu Kunchi at the office.

According to AITO Automotive’s official WeChat account, at around 16:34 on April 26, 2024, a serious traffic accident occurred in Yuncheng, Shanxi Province. We deeply mourn the casualties caused by the accident and express our deep condolences to the victims. According to the national platform data access management regulations, it was learned that the vehicle had a speed of 115km/h at the time of the accident, the safety airbags were opened normally, and the characteristics of the power battery pack were all normal. We are actively cooperating with the local traffic police department to conduct accident investigations, providing all necessary data to restore the cause of the accident, and providing all possible support to family members. The specific investigation results shall be reported by the traffic police department in the future.

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According to the official WeChat account of Gree Electric Appliances, on April 28th, Gree Electric Appliances announced that in response to the State Council’s “Action Plan for Promoting Large scale Equipment Renewal and Consumer Goods Exchange,” after research and decision by the company, Gree Electric Appliances will invest 3 billion yuan from now on to launch the exchange of old for new activities for household appliances.

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China Earthquake Networks Center officially measured that at 11:43 on April 28, a magnitude 4.4 earthquake occurred in the Yellow Sea (38.27 degrees north latitude, 122.96 degrees east longitude), with a focal depth of 30 kilometers.

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The Ministry of Commerce issued a notice on the “Three Year Action Plan for Digital Commerce (2024-2026)”, which pointed out the optimization of cross-border e-commerce export supervision methods. Organize cross-border e-commerce comprehensive pilot zones to carry out special actions such as platform and seller going abroad. Supporting cross-border e-commerce to empower industrial belts, guiding traditional foreign trade enterprises to develop cross-border e-commerce, and establishing a marketing service system that integrates online and offline, as well as domestic and overseas linkage. Enhance the specialization, scale, and intelligence level of overseas warehouses. (Official website of the Ministry of Commerce)

The Ministry of Commerce issued a notice on the “Three Year Action Plan for Digital Commerce (2024-2026)”, which pointed out the vigorous development of digital trade. Promote the reform, innovation, and development of digital trade, establish a sound digital trade governance system, and accelerate the development of new forms and models of digital trade. Actively engage in international cooperation in digital trade with relevant countries and regions. Global Digital Trade Expo is held every year to strengthen the leading role of innovation and accelerate the implementation of results. Enhance the digitalization level of important exhibitions, hold “cloud exhibitions”, carry out “cloud exhibitions”, “cloud docking”, “cloud negotiations”, “cloud signing”, etc.

The Ministry of Commerce issued a notice on the “Three Year Action Plan for Digital Commerce (2024-2026)”, which pointed out the cultivation and growth of new types of consumption. Implement digital consumption improvement actions, create a “4+N” online consumption matrix, and carry out four national online promotional activities, including the “National Online New Year Shopping Festival”, “Double Product Online Shopping Festival”, “Digital Commerce Revitalizes Agriculture and Celebrates Harvest”, and “Silk Road Cloud Product E-commerce Festival”. Support various regions to carry out a series of supporting activities tailored to local conditions. Encourage the development of digital, green, health and other consumption, carry out online theme promotions such as home renewal, China-Chic renewal, scene renewal, etc., create a batch of new consumption scenes integrating data and reality around new product experience, entertainment tourism, sports events, medical care and health care, and cultivate a batch of digital consumer brands.

On April 28th, it was learned from the Chengdu Housing Provident Fund Management Center that the notice on increasing the maximum loan amount for the first home of families with multiple children has been reviewed and approved by the Chengdu Housing Provident Fund Management Committee and has been officially issued. The Notice specifies that for multi child families who meet the conditions for housing provident fund loans and purchase their first home in Chengdu, the maximum loan amount for double depositor families will be adjusted from 800000 yuan to 900000 yuan, and for single depositor families, the maximum loan amount will be adjusted from 400000 yuan to 500000 yuan. (Sichuan Release)

On April 27th, Guangzhou was hit by hail and tornadoes, and a tornado warning was still issued at night.

According to the latest news from the Central Meteorological Observatory, there are still heavy to rainstorm in the border area between Guangdong and Fujian today, and a new round of rainfall will be launched tomorrow, which will be more intense and more extensive.

Affected by strong thunderstorms, Baiyun Airport has recently launched multiple large-scale flight delay responses. At 22:26 last night, there were 51 passenger flights at Baiyun Airport that were delayed for more than an hour and had not yet departed. The blue emergency response for large-scale flight delays was immediately activated.

At 23:11, Guangzhou Baiyun Airport launched a yellow emergency response for large-scale flight delays. At that time, there were 70 passenger flights that were delayed for more than an hour and had not yet departed.

At 2:49 am on the 28th, the number of flights delayed for more than an hour without leaving Baiyun Airport was reduced to 59, and the emergency response level for large-scale flight delays was downgraded to blue.

At 4:43 pm at night, 35 flights were delayed for more than an hour without leaving the port, and the emergency response for large-scale flight delays was lifted.

According to the latest information learned by reporters from Guangzhou Baiyun Airport, Guangzhou Airport has not resumed emergency response for large-scale flight delays. Today, Baiyun Airport plans to have 1170 inbound and outbound flights, including 573 outbound flights and 597 inbound flights.

According to the weather forecast, it will be cloudy and cloudy at Baiyun Airport today, with showers or thunderstorms. Short to moderate to heavy showers will be accompanied by thunderstorms, with easterly to southeast winds of 2-6 meters per second, visibility of over 6 kilometers, heavy rainfall of 2-3 kilometers, and temperature of 23-30 degrees Celsius. Destination airports such as Xiamen, Fuzhou, Nanjing, Shanghai, Hangzhou, Hefei, and Ningbo also experience varying degrees of thunderstorm weather. Baiyun Airport cooperates closely with air traffic control, airlines, and resident units to timely manage flights and passengers, ensuring overall stability and order.

According to real-time data from the flight manager, as of 9:35 pm today, Guangzhou Baiyun Airport has cancelled 225 outbound flights, with a cancellation rate of 29.6% and a delay rate of 71.2%. There were 129 cancelled flights at Shenzhen Airport, with a cancellation rate of 22.13% and a delay rate of 70.75%.

According to reporters, extreme weather conditions in Guangdong and Fujian are also affecting the normal operation of flights nationwide. Because the ability of an aircraft to take off and land depends not only on whether the departure and destination meet the conditions for flight takeoff and landing, but also on the weather conditions along the route, thunderstorms can easily lead to a large backlog of flights.

In order to conscientiously implement the decisions and deployments of the Party Central Committee and the State Council, effectively fulfill the urban main responsibility, adapt to the trend of new urbanization and changes in the supply and demand relationship of the real estate market, accelerate the construction of a new model of real estate development, better meet the diversified housing needs of the people, and promote the stable and healthy development of the real estate market in our city, the relevant matters are hereby notified as follows.

1、 The system drives supply-demand balance

（1） Scientifically and accurately formulate housing development plans and annual plans, improve the “market+guarantee” housing supply system, comprehensively promote the establishment of a new mechanism for linking people, housing, land, and money, and focus on building a new model of real estate development.

（2） Deepen the implementation of the “red, orange, and green” three color management for the supply of commercial construction land, and appropriately reduce land supply in areas with high supply and sales ratios for residential and commercial land.

（3） Encourage market entities to convert their own idle and inefficient commercial office and other non residential stock housing into affordable rental housing according to relevant requirements. Encourage state-owned enterprises in cities, districts, and counties to rent and purchase idle commercial office buildings for office, public services, and industrial use, and promote a virtuous cycle in the commercial office housing market.

2、 Optimizing services to stimulate vitality

（4） The city’s commercial housing projects will no longer be subject to notarization and lottery for housing selection, and will be sold independently by enterprises. Encourage enterprises to adopt notarized lottery selection and sales for hot projects with high social attention.

（5） Promote the deepening and implementation of the coordination mechanism for urban real estate financing, and meet the reasonable financing needs of real estate enterprises with different ownership equally.

（6） Support synchronous sales of parking spaces and residential properties; Reasonably set up the planning ratio of parking spaces for newly sold residential land.

3、 Meeting reasonable housing needs

（7） Housing transactions throughout the city will no longer be subject to review for purchasing qualifications.

（8） Promote the use of the first elevated floor for public service spaces, increase the proportion of semi open spaces such as residential balconies, promote the development of low-density and high-quality residential products in suburban (city) counties, and further increase the supply of high-quality housing.

This notice is from

Q&A on Further Optimizing Policies and Measures for Stable and Healthy Development of the Real Estate Market

1、 What is the background of the policy introduction?

In order to adapt to the new situation of significant changes in the supply and demand relationship in the real estate market, implement the main responsibility of the city, implement policies tailored to the city, adjust and optimize real estate policies, better meet the rigid and improved housing needs of residents, and promote the stable and healthy development of the real estate market, our city has studied, formulated and issued the “Notice on Further Optimizing Policies and Measures for the Stable and Healthy Development of the Real Estate Market” from a practical perspective.

2、 What measures are there to promote supply-demand balance?

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3、 What are the supporting policies for market entities to renovate and operate affordable rental housing, and how do they apply specifically?

Each market entity may apply to the local housing and construction department where the project is located, and after being recognized by the local leadership group for affordable rental housing, a “Certificate of Recognition for Affordable Rental Housing Projects” shall be issued. The applying unit can enjoy the following support policies with the recognition certificate:

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4、 What measures are in place to support the demand for real estate financing?

We will conscientiously implement the Notice of the Ministry of Housing and Urban Rural Development and the State Administration of Financial Supervision on Establishing a Coordination Mechanism for Urban Real Estate Financing (Jianfang [2024] No. 2) and relevant meetings of the Ministry of Housing and Urban Rural Development, establish a “whitelist” system for real estate financing coordination mechanisms, more accurately support the reasonable financing needs of real estate projects, accelerate the implementation and effectiveness of urban real estate financing coordination mechanisms, promote compliant enterprise projects to “push as much as possible”, “advance as much as possible”, and “loan as much as possible”, support the delivery of real estate project construction, and safeguard the legitimate rights and interests of homebuyers.

5、 Why support synchronous sales of parking spaces and residential properties?

Supporting the synchronous sale of corresponding underground motor vehicle parking spaces during pre-sale (current sale) of commercial residential properties is conducive to further facilitating the sales management of motor vehicle parking spaces in residential projects, and can better meet the needs of homebuyers to purchase motor vehicle parking spaces synchronously when purchasing commercial housing.

6、 How to understand that the city’s commercial housing projects can no longer be subject to notarization and lottery, and encourage enterprises to notarize and lottery projects with high attention?

No longer implementing notarization lottery, on the one hand, it can improve the convenience of purchasing houses for the public, and no longer require pre qualification codes for purchasing houses; On the other hand, it can improve the sales efficiency of commercial housing and shorten the time cycle from obtaining pre-sale permits for the project to the online signing and filing of home buyers.

At the same time, for hot projects with high market attention, in order to ensure the fairness, impartiality, and openness of the sales process, after evaluation by the local government, enterprises are encouraged to use a public lottery method with the full participation of notary institutions for sales. Any illegal or irregular behavior that occurs during the sales process will be resolutely and seriously investigated.

6、 How to understand that the city’s commercial housing projects can no longer be subject to notarization and lottery, and encourage enterprises to notarize and lottery projects with high attention?

No longer implementing notarization lottery, on the one hand, it can improve the convenience of purchasing houses for the public, and no longer require pre qualification codes for purchasing houses; On the other hand, it can improve the sales efficiency of commercial housing and shorten the time cycle from obtaining pre-sale permits for the project to the online signing and filing of home buyers.

At the same time, for hot projects with high market attention, in order to ensure the fairness, impartiality, and openness of the sales process, after evaluation by the local government, enterprises are encouraged to use a public lottery method with the full participation of notary institutions for sales. Any illegal or irregular behavior that occurs during the sales process will be resolutely and seriously investigated.

7、 How to adjust the housing purchase restriction policy in this city?

Housing transactions throughout the city will no longer review the purchase conditions such as registered residence and social security, and will no longer limit the number of units purchased.

8、 What measures are there to increase the supply of high-quality housing?

In order to adapt to the new situation of significant changes in the supply and demand relationship of real estate and the new stage of housing transformation from “existence” to “good or bad”, and meet the needs of the people for high-quality housing, efforts are made to increase public service space, comprehensively promote the first floor of elevated floors, increase the proportion of half open space and half capacity of residential buildings, encourage green, low-carbon, and technological buildings, promote the development of low-density and high-quality residential products in suburban (city) counties, and effectively enhance the sense of gain and happiness of the people.

On April 28th, the Information Office of the People’s Government of Fujian Province held a press conference, during which it was announced that

（1） Convenience for Taiwanese compatriots to come to Fujian for communication, work and life (4 points)

1. Establish a “Taiwan compatriot zone” on the Minzhengtong APP

First batch launched

2. Taiwan compatriots working in the Pingtan Comprehensive Experimental Zone are entitled to a subsidy for the difference in personal income tax burden, which can be enjoyed without application

Taiwanese compatriots can log in to the Minzhengtong APP and apply for the “Taiwan Resident Personal Income Tax Subsidy ‘Exemption and Enjoy’ Authorization” module. After approval, the subsidy will be directly distributed to their personal accounts.

3. Establish and improve the “Taiwanese Medical and Health Insurance Fujian Online Service Platform”

Through this platform, the following functions can be achieved:

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4. Introduce the “Fuma Same City Pass” card to Mazu compatriots

Compatriots of Mazu can hold cards to enjoy public transportation and designated services throughout Fuzhou city

（2） In terms of supporting the development of Taiwan funded enterprises (6 articles)

1. Establish a cross-strait industrial investment fund for Taiwanese businessmen

The fund was initiated and established by the National Taiwan Enterprise Federation, located in Xiamen, and was spontaneously raised by mainland Taiwanese businessmen. The first phase has raised 786 million yuan, with a focus on investing in the technology and consumer industries, focusing on investment projects of high-quality Taiwanese enterprises, and promoting the development of industries across the Taiwan Strait.

2. Relying on the Taiwan Strait Equity Trading Center’s “Taiwan owned Board” to further serve Taiwan owned enterprises

Provide “Landaihui” product services, including original business registration, training consultation, policy docking, etc

Based on the Provincial Fund Cloud Platform, establish a special area for financing docking between Taiwan and Taiwan enterprises across the Taiwan Strait, and organize 50 equity funds to provide roadshow services and investment and financing docking for selected Taiwan enterprises in terms of capital market empowerment.

Based on the approved reserve enterprise cultivation and incubation base for listing by the provincial government, establish a Taiwan Enterprise Service Center to support the financing of Taiwan’s stock reform and listing.

3. Implement cross-border trade facilitation policies with Taiwan in Fuzhou, Xiamen, and Quanzhou

High quality enterprises can verify their tax filing forms for foreign exchange expenditures on service trade projects with an equivalent value of over 50000 US dollars in Taiwan.

The specific advance or sharing business under the service trade of high-quality enterprises to Taiwan can be directly handled by 18 banks within the province, without the need to go to the local foreign exchange management department.

4. Increase financial service support for Taiwanese agricultural enterprises

The Provincial Agricultural Bank of China provides mortgage loans for rural land management rights, sea area use rights, and agricultural facilities to Taiwanese enterprises and farmers in Taiwan Farmers Entrepreneurship Park and Fujian Taiwan Agricultural Integration Development Industrial Park.

Expand the range of tree species mortgaged for forest rights, including fruits, tea trees, green garden seedlings planted in the park, as well as major trees such as Taiwan camphor tree and Camellia oleifera, all included in the scope of mortgaged tree species.

Enlarge the collateral mortgage ratio, and the mortgage ratio of working capital loans for real estate collateral

5. Support the development of shipping vessels and enterprises in Fujian and Taiwan

Ships registered in Taiwan and berthing at ports in our province will receive full compensation for pilotage fees (except for Taiwanese ships of the same type as mainland vessels that require mandatory pilotage).

Provide assistance to Fujian Taiwan container shipping companies that experienced an increase in container throughput at ports in our province during the current year

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6. Promote common standard cooperation between Fujian and Taiwan

Promote cross-strait standardization in four key industries, including electronic information technology, agricultural products, service industry, and new energy, through cooperation between Fujian and Taiwan.

We will carry out standardization expert recruitment for Taiwanese compatriots and support experts in related fields to join 67 national professional standard committees, including e-commerce, hardware products, edible mushrooms, and 30 provincial-level professional standard committees, including the tea industry, exhibition industry, and solar photovoltaic industry, which have settled in Fujian.

（3） Encourage Taiwanese compatriots to come to Fujian for employment, entrepreneurship, training, and internships (3 articles)

1. Organize and implement the cross-strait Internet marketer training, employment and entrepreneurship support plan

The activity of “e-commerce anchor contest · cross-strait competition area” was held to provide internship and training opportunities for Taiwanese youth who came to Fujian to participate in the competition. If they passed the training examination, they could obtain the qualification certificate of Internet marketer recognized by the Ministry of Human Resources and Social Security (including 4 types of work, including live broadcast salesperson, product selector, video creator, platform administrator, etc.), and be included in the talent pool of Fujian Radio and Television Taiwan Youth Live Broadcast E-commerce.

In 2024, it will be provided to Taiwanese youth participating in the competition

2. Expand channels for Taiwan compatriots to participate in Fujian’s meteorological work

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3. Provide convenience for Taiwanese compatriots to participate in various types of crew training in Fujian and apply for mainland crew certificates

Provide regular training services for senior sailors, yacht drivers, and cruise crew members in Xiamen, Pingtan, and other places to Taiwanese compatriots, and recognize the training qualifications of Taiwanese compatriots who have participated in relevant training in Taiwan.

Targeting Taiwanese compatriots and collaborating with Taiwanese enterprises to establish a “dual fuel” ship crew training course at Jimei University, with plans for 2024

According to the Beijing Bureau of Statistics, in the first quarter, industrial enterprises above designated size in the city achieved a revenue of 707.64 billion yuan, a year-on-year increase of 11.6%; The total profit achieved was 44.61 billion yuan, a year-on-year increase of 27.0%.

The “2023 China Online Literature Blue Book” released by the Chinese Writers Association in Shanghai on April 28th shows that the user base of online literature in China has exceeded 500 million, the total number of works has exceeded 30 million, and about 2 million new works are added annually. There are abundant achievements in themes such as reality, science fiction, and history, and the process of mainstream and boutique development is accelerating. According to statistics from 50 key online literature platforms nationwide, the revenue scale in 2023 is approximately 34 billion yuan. Nearly 2.5 million new registered authors were added throughout the year, a year-on-year increase of 10%, and 260000 new contracted authors were added, a year-on-year increase of 17%. In 2023, the overseas market size of Chinese online literature exceeded 4 billion yuan, with a total of nearly 200 million active overseas users, covering most countries and regions around the world. Xinhua News Agency

The China Academy of Information and Communications Technology has released the first domestic automotive large model standard today. The standard mainly covers three capability domains, among which scenario richness focuses on evaluating the support of automotive models for sub scenarios such as intelligent cabins and autonomous driving. Capability support focuses on the performance of automotive models in artificial intelligence technology capabilities such as perception, understanding, reasoning, and generation. Application maturity mainly evaluates the application of automotive models in system ecology, deployment customization, scene adaptation, and other aspects. (CCTV News)

According to CCTV News, the reporter learned from the Haikou Meteorological Observatory in Hainan Province that due to the influence of the southwest airflow, the highest temperature in most areas of Haikou City will rise to above 40 ℃ from 12:00 to 18:00 today. On April 28, 2024 at 08:49, the Haikou Meteorological Observatory changed the high-temperature orange warning signal to a high-temperature red warning signal. It is recommended that relevant units and personnel take preventive measures.

According to the disciplinary inspection and supervision team of the Central Commission for Discipline Inspection and the National Supervisory Commission stationed at the State Administration of Taxation, as well as the Guangdong Provincial Commission for Discipline Inspection and Supervision, the disciplinary inspection and supervision team of the Central Commission for Discipline Inspection and the National Supervisory Commission stationed at the State Administration of Taxation, and the Guangdong Provincial Supervisory Commission, have recently conducted a disciplinary review and supervision investigation into the serious violations of discipline and law by Hu Jinmu, former Party Secretary and Deputy Director of the Guangdong Provincial Taxation Bureau of the State Administration of Taxation.

Today, the Shenzhen 2023 National Economic and Social Development Statistical Bulletin was released. At the end of 2023, the permanent population of Shenzhen was 17.7901 million, setting a new historical high; Compared to the end of last year, there was an increase of 128300 people, a year-on-year increase of 0.73%, ranking first in the growth rate in Beijing, Shanghai, Guangzhou, and Shenzhen. (Released in Shenzhen)