01/ Morning introduction of Asian business investment consultants
1. The 2023 World Artificial Intelligence Conference kicks off in Shanghai today
2. Ministry of Industry and Information Technology: Accelerate the innovation and development of strategic emerging industries such as big data, artificial intelligence, and intelligent connected vehicles
3. Zhejiang: Support platform enterprises to innovate in technology and optimize the layout of artificial intelligence computing power platforms
02/ News Breakfast of Asia Business Investment Consultant
// Spotlight //
1. On July 6, the 2023 World Artificial Intelligence Conference kicked off. The theme of this conference is "Intelligently Connected World, Building the Future". The last four words echo ChatGPT — a program capable of encoding, modeling and generating human speech.
2.2023 Global Digital Economy Conference opens in Beijing. Wang Jiangping, Vice Minister of the Ministry of Industry and Information Technology, attended the opening ceremony and delivered a speech. Wang Jiangping said that it will enhance the momentum of digital development, accelerate the innovation and development of strategic emerging industries such as big data, artificial intelligence, and intelligent networked vehicles, vigorously develop advanced manufacturing, promote the digital economy to become stronger, better and bigger, and cultivate new economic engines. .
3. The Zhejiang Provincial Government issued the "Implementation Opinions on Promoting the High-Quality Development of the Platform Economy" to support the technological innovation of platform companies. Promote the construction of computing power infrastructure, optimize the layout of artificial intelligence computing power platforms, strengthen algorithm innovation and application, and build an algorithm transformation and application ecology. Signed the "Strategic Cooperation Agreement on Jointly Promoting the High-quality Development of the Platform Economy" with the State Administration for Market Regulation. The agreement focuses on the high-quality development of the platform economy, creates a better environment for the development of the platform economy, and comprehensively improves the open competitiveness of the platform economy. Capacity building and other aspects support Zhejiang to try first.
4. Wang Wentao, Minister of Commerce, presided over the roundtable meeting of foreign-funded enterprises, and listened carefully to the business conditions, problems, demands and suggestions of foreign-funded enterprises in the pharmaceutical industry in China. Representatives from 12 companies including General Medical, Novo Nordisk, Bayer, Merck, Roche, AstraZeneca, Sanofi, Takeda, and Pfizer attended the conference. Participating companies introduced in detail the situation and problems of foreign investment in the pharmaceutical industry, and put forward 25 specific suggestions.
// Global Market //
1. US stocks: The S&P 500 index closed down 8.77 points, or 0.20%, to 4446.82 points. The Dow closed down 129.83 points, or 0.38%, to 34288.64 points. The Nasdaq closed down 25.12 points, or 0.18%, to 13791.65 points.
2. European stocks: Germany's DAX 30 index closed down 0.63% to 7442.10 points. The French CAC 40 index closed down 0.80% at 7310.81 points. Britain's FTSE 100 index closed down 1.03% at 7442.10 points.
3. Crude oil: WTI crude oil futures for August closed up $2.00, or 2.87%, to $71.79 per barrel. Brent crude oil futures for September closed up $2, or 2.68%, at $76.65 a barrel.
// macro //
1. The Beijing Municipal Party Committee and the Municipal Government recently issued the "Implementation Opinions on Better Playing the Role of Data Elements and Further Accelerating the Development of the Digital Economy". The implementation opinions propose to improve the artificial intelligence data annotation database, explore and build data training bases, and promote the development of ultra-large-scale intelligent models such as natural language, multimodality, and cognition.
2. The communication and exchange mechanism of the round table conference on the economic operation of state-owned enterprises has been established in the near future. On July 5, Zhang Yuzhuo, secretary and director of the State-owned Assets Supervision and Administration Commission of the State Council, presided over the first meeting of the roundtable meeting on the economic operation of state-owned enterprises. Opportunities and challenges brought about by development, and put forward targeted suggestions on how to further support enterprises to promote technological innovation, deepen enterprise reform, and develop strategic emerging industries.
3. In June, the prosperity of China's service industry was higher than the critical point for the sixth consecutive month, but the growth rate slowed down, which was related to the weakening of demand. In June, the Caixin China General Service Industry Business Activity Index recorded 53.9, a drop of 3.2 percentage points from the previous month. It has been in the expansion range for six consecutive months, but it is the second lowest in six months, only higher than January 2023.
4. Recently, fluctuations in the RMB exchange rate have aroused market attention. In June, my country's bank settlement and sales of foreign exchange and foreign-related receipts and payments on behalf of customers showed a small surplus, which provided strong support for the basic balance of supply and demand in the foreign exchange market. At the same time, foreign investors' holdings of RMB bonds continued to improve this year. The net purchase of domestic bonds continued the relatively high scale in the previous months. Against the backdrop of continued volatility in the international financial market, the long-term investment value of RMB bonds is highlighted.
5. Recently, consumer coupons have been issued in many places to further promote consumption. Consumption vouchers play an obvious role in promoting consumption. The "China Bank Card Industry Development Report (2023)" released by China UnionPay shows that in 2022, UnionPay will issue government consumption vouchers to 285 provinces, cities, districts, and counties in 2022. , driving the transaction scale to nearly 50 billion yuan, and the number of users who directly participated in the collection exceeded 41 million.
6. Affected by the conduction effect of the "universal two-child" policy 7 years ago, primary school enrollment peaks occurred in many places across the country this year. Primary school enrollment in Qingdao has increased by more than 30% compared with the previous year, and that in Hangzhou has increased by about 20% year-on-year. 2023 will be the most severe year for the enrollment of first-grade primary school students in Hangzhou in recent years. The number of primary school students in Hangzhou is expected to be around 150,000 (about 125,000 last year).
// Industry //
1. At the press conference of the State Council Information Office, Jiao Hong, director of the State Food and Drug Administration, said that in the past five years, the overall pass rate of drug sampling in my country has increased from 97.1% to 99.4%. A large number of innovative drugs and innovative medical devices have been approved for marketing. The State Food and Drug Administration has also promoted the establishment of a technical review standard system in line with the characteristics of traditional Chinese medicine, approved 31 new traditional Chinese medicines, and helped traditional Chinese medicine inherit the essence and keep innovation.
2. Preliminary statistics show that from June 1 to 30, the passenger car market retailed 1.896 million units, a year-on-year decrease of 2%, and a month-on-month increase of 9%. 2.230 million vehicles, a year-on-year increase of 2%, and a month-on-month increase of 11%; since the beginning of this year, a total of 11.062 million vehicles have been wholesaled, a year-on-year increase of 9%.
3. The price range of domestic N-type materials this week is 72,000-80,000 yuan/ton, and the average transaction price is 74,200 yuan/ton, a week-on-week increase of 0.68%; the price range of single crystal dense materials is 60,000-74,000 yuan / ton, the average transaction price was 65,700 yuan / ton, which was flat week-on-week. This week, the overall polysilicon market stopped falling and stabilized, and N-type polysilicon rebounded. In the long run, the relationship between supply and demand shows signs of improvement, so it is expected that the price of polysilicon will remain stable in the future.
4. my country's first open-source desktop operating system "Open Kylin 1.0" was officially released, marking that my country has the ability to independently select operating system components and independently build operating systems, filling the gap in this field in my country.
5. Yu Xiaohui, President of China Academy of Information and Communications Technology, released the "Global Digital Economy White Paper" at the "2023 Global Digital Economy Conference". According to the "White Paper", in 2022, the total digital economy of five major countries including the United States, China, Germany, Japan, and South Korea will be 31 trillion US dollars, and the digital economy will account for 58% of GDP, an increase of about 11 compared with 2016. percentage point.
6. Recently, the price of traditional Chinese medicinal materials has continued to rise, and there are endless rumors of reduced production and out-of-stock of medicinal materials. The fluctuating prices have aroused the sensitive nerves of market participants. Different from the heat of the market, some analysts said that theoretically, the overall supply of Chinese herbal medicines is greater than the demand, and the gap is not obvious. At the same time, the inventory is at a relatively low level in the past five years, which is within the normal range.
03/ Subscription for new shares of Asia business investment consultant
New shares (including Beijing Stock Exchange): Echo Optoelectronics
New convertible bonds: Dongya Convertible Bonds, Shangsheng Convertible Bonds
IPOs on Thursday: None
Convertible bonds listed on Thursday: Guoli Convertible Bonds
Reference materials: Financial Associated Press, Wind Information
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