March 3 Macroeconomic Index:The domestic economy is recovering steadily, and new companies are springing up; the international situation is complex and ever-changing, and cooperation and challenges coexist.
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International Crude Price Trend & Exchange Rate of RMB to USD Trend
Domestic News
1. Bureau of Statistics: The manufacturing purchasing managers' index rebounded significantly in February
2. The press conference of the Third Session of the 14th National People's Congress will be held at 12 o'clock on March 4
3. National Bureau of Statistics: In 2024, China's economy grew by 5.0%, and the total economic output reached a new level of 130 trillion yuan for the first time
4. In January this year, the various certificates issued by the trade promotion system increased by 25.42% year-on-year
5. In 2024, there was an average of 24,000 new enterprises established in China every day
International News
1. U.S. PCE data quick review
2. Iranian President: Iran is open to negotiations but will not bow to power
3. The UK signed a £2.26 billion loan agreement with Ukraine to strengthen Ukraine's defense capabilities
4. Japan made a preliminary anti-dumping ruling on Chinese graphite electrodes
5. U.S. Secretary of Commerce: 250,000 people are already waiting in line for the $5 million immigration "gold card"
Domestic News
1. Bureau of Statistics: The manufacturing purchasing managers' index rebounded significantly in February
According to the National Bureau of Statistics, the production index and new orders index in February were 52.5% and 51.1% respectively, up 2.7 and 1.9 percentage points from the previous month, both rising to the expansion range, and the production and demand of the manufacturing industry improved significantly. From the perspective of industries, the two indices of non-ferrous metal smelting and rolling processing, general equipment, electrical machinery and equipment and other industries were all located at 54.0% and above, and the production and demand of related industries are released rapidly; The two indices of textile, garment and apparel, petroleum, coal and other fuel processing industries were below the critical point, and the supply and demand of the industry were weak. Driven by the recovery of production and demand, enterprises' willingness to purchase increased, and the procurement volume index was 52.1%, up 2.9 percentage points from the previous month.
2. The press conference of the Third Session of the 14th National People's Congress will be held at 12 o'clock on March 4
The Third Session of the 14th National People's Congress (NPC) will hold a press conference at 12 o'clock on March 4, 2025 (Tuesday) in the press conference hall of the Great Hall of the People, and the spokesperson of the session will answer questions from Chinese and foreign reporters on the agenda of the congress and issues related to the work of the NPC.
3. National Bureau of Statistics: In 2024, China's economy grew by 5.0%, and the total economic output reached a new level of 130 trillion yuan for the first time
Sheng Laiyun, Deputy Director of the National Bureau of Statistics, commented on the 2024 Statistical Communiqué on National Economic and Social Development. In 2024, China's economy grew by 5.0%, and the total economic output stood on a new level of 130 trillion yuan for the first time, successfully completing the main goals and tasks of economic and social development. This is a remarkable achievement, and it is not easy to achieve 5% economic growth in the face of increasing external pressures and internal difficulties, which fully demonstrates the resilience and potential of China's economy and the resilience and strength of a large country.
4. In January this year, the various certificates issued by the trade promotion system increased by 25.42% year-on-year
The China Council for the Promotion of International Trade held a press conference today, at which the reporter learned that in January 2025, the cumulative number of certificates issued by the national trade promotion system increased significantly year-on-year. In January 2025, the national trade promotion system issued a total of 777,700 certificates of origin, ATA carnet, commercial certificates and other certificates, a year-on-year increase of 25.42%. The amount of preferential certificates of origin visas of the national trade promotion system was 9.208 billion US dollars, a year-on-year increase of 48.94%; The amount of RCEP certificate of origin visas was US$872 million, a year-on-year increase of 50.51%.
5. In 2024, there was an average of 24,000 new enterprises established in China every day
According to the 2024 National Economic and Social Development Statistical Bulletin released by the National Bureau of Statistics on the 28th, in 2024, 27.37 million new business entities were established, with an average of 24,000 new enterprises established every day. According to the communiqué, in 2024, 59,080 foreign-invested enterprises were newly established, an increase of 9.9% over the previous year. The actual use of foreign investment was 826.3 billion yuan, equivalent to 116.2 billion US dollars, of which 17,172 foreign-invested enterprises were newly established in China by the countries jointly building the "Belt and Road" (including investment in China through some free ports), an increase of 23.8 percent.
International News
1. U.S. PCE data quick review
The Fed's preferred inflation measure, the PCE price index, rose modestly, easing some of the inflation concerns after other data showed that progress in the fight against inflation not only stalled, but even reversed. At the same time, consumer spending has retreated. Fed officials have said they need to see a significant slowdown in inflation before lowering interest rates again, especially given the uncertainty over how President Trump's policies will affect prices. At the same time, a significant drop in spending data could raise concerns about the resilience of the U.S. economy.
2. Iranian President: Iran is open to negotiations but will not bow to power
According to a report by Iranian Press TV on the 27th local time, Iranian President Pezeshiziyan reiterated at a meeting that Iran is open to negotiations, but Iran will not "succumb to the pressure of power" and will not "negotiate under coercion". Iran is not afraid of sanctions and does not need to circumvent them. Iran will develop its economy through cooperation with its neighbors and the expansion of regional trade.
3. The UK signed a £2.26 billion loan agreement with Ukraine to strengthen Ukraine's defense capabilities
Darren Jones, Chief Secretary to the British Treasury, said on social media platforms on the evening of March 1 local time that on the same day, British Chancellor of the Exchequer Rachel Reeves and Ukrainian Finance Minister Sergii Marchenko signed an agreement to provide Ukraine with a loan of 2.26 billion pounds to strengthen Ukraine's defense capability. According to Ukrainian sources, under the witness of the leaders of both sides, Ukrainian Finance Minister Sergii Marchenko and the British Chancellor of the Exchequer signed a loan agreement online.
4. Japan made a preliminary anti-dumping ruling on Chinese graphite electrodes
Japan's Ministry of Economy, Trade and Industry and the Ministry of Finance issued a joint statement saying that Japan made a preliminary anti-dumping ruling on graphite electrodes produced in China because "imported dumped products have caused substantial damage to Japan's domestic industry". The statement said that the Japanese side will provide interested parties with the opportunity to submit evidence and express their opinions on the preliminary decision, and will continue to conduct investigations in accordance with WTO rules and relevant domestic laws and regulations, and decide whether to impose anti-dumping duties after finally determining whether there are dumped goods imported and whether they have caused substantial damage to the Japanese industry.
5. U.S. Secretary of Commerce: 250,000 people are already waiting in line for the $5 million immigration "gold card"
U.S. Commerce Secretary Howard Lutnik said on Wednesday local time that 250,000 people are waiting to receive the immigration "gold card" that President Trump announced will be introduced. U.S. President Donald Trump announced a new immigration policy on Tuesday that plans to introduce a $5 million "gold card" to replace the current EB-5 immigrant investor visa program.
Domestic Macro Economy Index
