Domestic News:
1. The Ministry of Agriculture and Rural Affairs held a symposium on the development of the pig industry.
2. The National Development and Reform Commission (NDRC) announced plans to accelerate the orderly release of 800 billion yuan in new policy-based financial instruments.
3. Pan Gongsheng stated that a moderately loose monetary policy should be implemented effectively, along with measures to boost consumption.
4. The US eased financial sanctions against Venezuela but still prohibits it from transacting with Chinese companies; the Ministry of Foreign Affairs responded.
5. The NDRC stated that it will focus on expanding effective domestic demand and will formulate a strategic implementation plan for expanding domestic demand from 2026 to 2030.
6. The NDRC stated that this year it will focus on a series of actions to expand effective investment in areas such as "artificial intelligence+" infrastructure.
7. The State Administration for Market Regulation imposed administrative penalties on seven e-commerce platforms, including Pinduoduo, Meituan, JD.com, Ele.me, Douyin, Taobao, and Tmall, in connection with the "ghost delivery" case, totaling 3.597 billion yuan in fines and confiscations. 8. The China Securities Regulatory Commission (CSRC) clarified that the National Social Security Fund and the Basic Pension Insurance Fund can act as strategic investors, with the subscription ratio for strategic investors generally not less than 5%.
9. The CSRC stated that Hu Bo used a Sina Weibo account to fabricate and disseminate false or misleading information regarding capital market regulatory dynamics and policies, disrupting the securities market. Hu Bo was fined 800,000 yuan and banned from the securities market for three years.
10. The upper limit for the size of the Beijing Stock Exchange 50 Index Fund will be increased.
11. The CSRC publicly solicited opinions on the "Measures for the Supervision and Management of Futures Companies (Draft for Comment)" and its supporting implementation regulations.
12. The Ministry of Finance and another department adjusted the scope of goods eligible for VAT and consumption tax refunds in the Pingtan Comprehensive Experimental Zone.
13. The Asset Management Association of China (AMAC) released the "Guidelines for Performance Appraisal Management of Fund Management Companies": Fund management companies should comprehensively establish a performance appraisal system centered on fund investment returns. 14. The Hong Kong Stock Exchange (HKEX) released a consultation paper on shortening the settlement cycle of the Hong Kong stock spot market, proposing a suggested operating model to reduce the settlement cycle from the current T+2 to T+1.
International News:
1. Meta plans to launch its first large-scale layoff this year on May 20.
2. Ukrainian Foreign Minister: Ukraine is willing to hold a leaders' meeting with Russia in Turkey.
3. Federal Reserve Governor Waller is cautious about interest rate cuts, warning of the risk of prolonged conflict.
4. The Indian government issued a notice that India will restrict the export of certain grades of natural barium sulfate.
5. India issued a notice on gold and silver imports before the holiday to resolve customs clearance obstacles caused by policy confusion.
6. Russia announced that wheat export tariffs will be zero from April 22 to 29; it is considering extending some fertilizer export quotas.
7. European Commission spokesperson: If the Strait of Hormuz blockage continues, the EU is prepared to take joint action on the issue of aviation fuel. 8. Fed Chair Daly: Rates may remain unchanged; if inflation accelerates, rates will need to be raised; if the conflict ends quickly, rates may be cut.
9. Iran's opening of the Strait of Hormuz triggers market volatility; WTI and Brent crude oil prices plummeted by 12% intraday, gold prices rose to $4,900, the US dollar index fell, and US stocks opened higher, fueling expectations of a Fed rate cut.
10. Iran Situation—
① Iranian Foreign Ministry Spokesperson: Iran refuses to ship enriched uranium abroad.
② The US is considering resuming negotiations with Iran in Pakistan within days, possibly as early as next Monday.
③ Gulf officials: Trump is eager to end the war and may accept more compromises.
④ Iranian Foreign Minister: During the ceasefire, Iran has opened the Strait of Hormuz to all merchant ships.
⑤ US media: The US plans to unfreeze $20 billion in funds in exchange for Iran abandoning uranium enrichment; US-Iran talks may be held in Islamabad on Sunday.
⑥ Trump: Iran has fully opened the "Iran Strait," and the maritime blockade against Iran will remain fully effective. The US will receive all of Iran's nuclear dust. Israel will cease bombing Lebanon. Iran agrees to an indefinite suspension of its nuclear program and will not receive any unfreezing funds.
⑦ Iranian Parliament Speaker: Trump's seven social media statements are "all untrue".
