Noticias diarias de Macro Economía el 24 de julio

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Domestic News

1. SAIC and Audi will reach cooperation to accelerate EV development

2. The power load of the Southern Power Grid hits four new highs, with 18,000 charging piles in Shenzhen connected to virtual power plants

3. Anhui Province Natural Gas: the net attributable profit is up 44.38% year-on-year due to a 21.4% increase in gas transmission and sales volume in the first half of the year

4. China Successfully Launches 4 Satellites including Four Elephants 01 Star

International News

1. US stocks have "overdone" this rally with several tech stocks as a backdrop

2. Doksuri upgrades to typhoon level

3. Fed rate resolution outlook: inflation is slowing, but the Fed won't take any chances

4. Japanese team developed a highly conductive solid-state electrolyte

More detials:

Domestic News

1. SAIC and Audi will reach cooperation to accelerate EV development

The market is concerned about Audi and Chinese car companies carrying out electrification platform cooperation, SAIC for the first time to respond that has reached a consensus with Audi will reach cooperation to accelerate the development of electric vehicles. SAIC Vice President and Chief Engineer Zu Xiijie introduced, Audi and SAIC have always been strategic partners, the two sides have reached a consensus that will accelerate the pace of EV development through cooperation, "licensing, co-development, etc. are possible future cooperation, China's automotive market is experiencing unprecedented huge transformation, we will further deepen the strategic cooperation, in order to achieve a win-win situation." (Resource: Xinhua News)

2. The power load of the Southern Power Grid hits four new highs, with 18,000 charging piles in Shenzhen connected to virtual power plants

Since the beginning of summer, the electricity load continues to climb. The reporter learned today from the southern power grid, since the beginning of summer, the electricity load continues to climb. As of July 22, the southern power grid power load has been four times a record high, up to 231 million kilowatts. Reporters in Guangdong, Zhejiang, and other places of investigation found that the virtual power plant is coming into reality. Virtual power plants by virtue of energy Internet technology, will be scattered in the end-user charging pile, energy storage, air conditioning, distributed photovoltaic, and other power load resources aggregated and optimized control to participate in grid operation. It is understood that in Shenzhen, Guangdong Province, there are 18,000 charging piles with access to the virtual power plant management center, which can always respond to the grid's scheduling for peak shifting, and get the corresponding revenue, part of which will ultimately benefit the owner. In Zhejiang, a large number of photovoltaic equipment manufacturers invested in the construction of energy storage equipment connected to the virtual power plant, charging when the electricity consumption is low and discharging when the peak. (Resource: CCTV Finance)

3. Anhui Province Natural Gas: the net attributable profit is up 44.38% year-on-year due to a 21.4% increase in gas transmission and sales volume in the first half of the year

The company realized a total operating income of 3.235 billion yuan in the first half of the year, up 9.79% year-on-year. Net profit attributable to equity holders of 180 million yuan, up 44.38% year-on-year; basic earnings per share of 0.38 yuan. During the reporting period, the company's gas transmission and sales totaled 18.41 million cubic meters, up 21.4% from the same period last year.

4. China Successfully Launches 4 Satellites including Four Elephants 01 Star

At 10:50 a.m. Beijing time on July 23, 2023, China successfully launched four satellites including Four Elephants 01~03 and Galaxy Aerospace Rhinoceros 03, using the LM-2D carrier rocket from Taiyuan Satellite Launch Center, and the satellites were smoothly sent into the intended orbit, making the launch mission a complete success. Four Elephants 01-03 are mainly used for obtaining remote sensing observation data and providing commercial remote sensing services; Galaxy Space Rhinoceros 03 is mainly used for satellite communication technology verification. This mission is the 479th flight of the Long March series of carrier rockets. (Resource: CCTV News)

International News

1. US stocks have "overdone" this rally with several tech stocks as a backdrop

After Nifty and Tesla reported their second-quarter results, the market's concerns about a tech bubble resurfaced. Tesla's second-quarter results released last week showed that although revenue and earnings exceeded expectations, the company's much-anticipated gross margin on car sales hit a five-year low, dragging its shares down 9.7% on the 20th, the biggest one-day drop since April 20, and continued to fall on the 21st. Nifty's results released in the same time frame also disappointed the market. In response, Cameron McCrimmon, a strategist at Aegon Asset Management, said the rally, with several tech stocks as a backdrop, was "overdone" and could signal an imminent downturn. "The narrowing breadth of returns in the S&P 500, driven by several mega-cap tech stocks based on AI optimism, is a classic sign that the bull market is nearing its end." He wrote in a report. (Resource: China Business News)

2. Doksuri upgrades to typhoon level

Doksuri, the No. 5 Typhoon of this year, is located about 760 kilometers east of Manila, Philippines, in the northwest Pacific Ocean, that is, 14.8 degrees north latitude, 128 degrees east longitude, with a maximum wind force of 12 near the center (33 m/s), and a minimum pressure of 975 hPa at the center. It is expected that in the next three days, Doksuri will move at a speed of 10-15 kilometers per hour to the west-northwest direction, tend to the southern surface of Taiwan Island; intensity gradually strengthened, the strongest up to strong typhoon level or super typhoon level (15-16). Under the influence of Doksuri circulation, from the night of the 24th, the wind in the Bashi Channel and the Taiwan Strait will gradually increase to 7 ~ 9; from the daytime of the 25th, the wind in the east-eastern part of Guangdong Province and the northeastern part of the South China Sea will gradually increase to 6 ~ 8; with the approaching of the typhoon, the wind in the above sea areas will be further increased.

3. Fed rate resolution outlook: inflation is slowing, but the Fed won't take any chances

Federal Reserve policymakers are poised to raise interest rates to the highest level in 22 years on Wednesday while retaining a tightening bias, signaling that further action could come later this year. The Federal Open Market Committee (FOMC) is expected to raise interest rates by a quarter of a percentage point to a range of 5.25%-5.5%, the 11th hike in the past 16 months. The July hike followed a pause in June when the aim was to slow the pace of rate hikes as rates approached a level considered sufficient to bring inflation back over time to the 2% target. Still, Powell and other policymakers want to appear resolute and retain the option to raise rates again if necessary to avoid another price spike. James Knightley, chief international economist at ABN AMRO, said, "Inflation is slowing, but not fast enough for the Fed; officials are not taking any chances as the job market remains firm."

4. Japanese team developed a highly conductive solid-state electrolyte

Japan's Tokyo Institute of Technology and other institutions involved in the team recently published a paper in the US Science magazine, they developed a highly conductive solid-state electrolyte "lithium super-ionic conductor", and the success of this new electrolyte so that the characteristics of all-solid-state lithium batteries have been significantly improved. The results will bring a new direction to the research and development of next-generation power storage devices used in pure electric vehicles, smart grids and other fields, the communiqué said.

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