Domestic News
1. The Fourth Session of the 14th National People's Congress opened on the morning of March 5th and will last for eight days.
2. Seedance 2.0 video generation price announced: 1 RMB per second.
3. FTSE China A50 Index will include China Shipbuilding, Tianfu Communication, and Wanhua Chemical.
4. Wang Yi held phone conversations with UAE Deputy Prime Minister and Foreign Minister Abdullah and Saudi Foreign Minister Faisal.
5. China's Manufacturing Purchasing Managers' Index (PMI) for February was 49%, down 0.3 percentage points from the previous month.
6. COSCO Shipping: Due to the continued escalation of conflict in the Middle East, new bookings for relevant routes will be suspended effective immediately.
7. The Ministry of Finance and two other departments released tax incentives for imported exhibits sold during the China International Fair for Trade in Services.
8. Spokesperson for the Fourth Session of the 14th National People's Congress: This year, we will adhere to the strategic focus of expanding domestic demand, vigorously boost consumption, and promote the construction of a strong domestic market. International News
1. Sources: EU receives US commitment of "no tariffs".
2. US Treasury Secretary Bessenter: 15% tariffs expected to be implemented this week.
3. South Korea says it will use over 100 trillion won in market stabilization measures if necessary.
4. US ADP employment increased by 63,000 in February, higher than the market expectation of 50,000.
5. Overnight Market Update—Bahrain Aluminum declares force majeure, LME aluminum prices hit a new high since 2022, South Korean stocks closed down more than 12%, marking the largest single-day drop in history.
6. Federal Reserve—① Milan: It is appropriate to continue cutting interest rates at the March meeting; the outlook has not changed due to the outbreak of the conflict in Iran. A one percentage point rate cut this year is appropriate. ② Hamak: We are likely to keep interest rates unchanged for a considerable period of time. ④ Beige Book: Overall, economic expectations are optimistic, with most regions expecting modest to moderate economic growth in the coming months. ⑤ The White House stated that it has submitted Warsh's nomination to the Senate as Chairman of the Federal Reserve, believed to replace Milan's seat on the Board of Governors.
7. Energy Situation—① Sources: Qatar will completely suspend liquefied natural gas production on Wednesday. ② Saudi Aramco: For security reasons, crude oil exports have been diverted to the Red Sea port of Yanbu. ③ Saudi Arabia's Ras Tanura refinery was attacked again. ④ Putin: Considering proactively cutting off natural gas supplies to Europe; Russia remains a reliable energy supplier to all partners.
8. Iran Situation—
① US Defense Secretary: The US-Iran conflict could last eight weeks or longer, with the focus of attacks shifting inland.
② Iran denies rumors of secret peace talks, accusing the New York Times of engaging in "psychological warfare."
③ Iranian officials: Time is in Iran's favor in the war; they are prepared for a protracted conflict.
④ Iranian officials: If the US and Israel seek regime change, we will target Israel's Dimona nuclear reactor and energy infrastructure in all regions.
⑤ British media: US B-2 stealth bombers will land at a British base within days.
⑥ Trump: Those who wanted to be the leader of Iran all ended up dead.
⑦ Conflicting reports indicate that Kurdish forces have begun a ground offensive against Iran.
⑧ The US Senate failed to prevent further military action against Iran.
