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Domestic News
1. After the introduction of the new "National Nine Articles", the first reorganization and listing company was released
2. Accelerate the improvement of the "four beams and eight pillars" of the financial legal system to escort the high-quality development of the financial industry
3. About the adjustment of the national drug list in 2024, the National Health Insurance Administration is open for public opinions
4. Food and Agriculture Organization of the United Nations: It is expected that the global supply of major food commodities will be sufficient from 2024 to 2025
5. Wang Shouwen, International Trade Negotiator and Vice Minister, attended the UNCTAD Ministerial Dialogue on "Promoting Trade and Development through Industrial Policy".
International News
1. Russian Foreign Ministry Spokesperson: NATO is preparing for a potential military conflict with Russia
2. U.S. natural gas futures are trading lower awaiting the EIA inventory report
3. SAIC MG responds to the EU's tariffs on China's new energy vehicles
4. The US PPI report further confirmed that inflationary pressures are easing
5. Britain announced widespread sanctions against Russia for the first time imposed sanctions on Russian shadow oil tankers
Domestic News
1. After the introduction of the new "National Nine Articles", the first reorganization and listing company was released
According to the restructuring plan disclosed by China Merchants Shipping and Antong Holdings, Antong Holdings intends to issue shares to China Merchants Shipping to purchase 100% of the shares of Sinotrans Container Shipping Co., Ltd. and 70% of the shares of Guangzhou China Merchants Ro-Ro Transportation Co., Ltd. The transaction is expected to constitute the spin-off of China Merchants Shipping's subsidiaries, Sinotrans Container Lines and China Merchants Ro-Ro, restructuring and listing. It is worth mentioning that this transaction is also the first restructuring and listing after the introduction of the new "National Nine Articles". (SSE News)
2. Accelerate the improvement of the "four beams and eight pillars" of the financial legal system to escort the high-quality development of the financial industry
In an interview, a relevant person in charge of the Department of Laws and Regulations of the State Administration of Financial Supervision said that substantial progress has been made in amending the Banking Supervision Law, the Insurance Law, the Commercial Bank Law, and other legislative projects, and that the local financial supervision and management regulations, the regulations on financial asset management companies, and other administrative regulations are being drafted and revised as soon as possible, so as to better meet the needs of financial development practice and further release the signal of strong supervision and strict supervision. Promote the improvement of legal provisions related to the financial industry in the revision of the Enterprise Bankruptcy Law and the Criminal Law, and enhance the coordination and effectiveness of the legal system. We will speed up the improvement of the "four beams and eight pillars" of the financial legal system, focusing on solving the problems of insufficient basis for shareholder supervision, imperfect risk disposal mechanism, and low administrative penalties, and strive to make up for the shortcomings of the legal system in a "package". (Financial Times)
3. About the adjustment of the national drug list in 2024, the National Health Insurance Administration is open for public opinions
It was learned from the National Health Insurance Administration that according to the "Interim Measures for the Administration of Drugs in Basic Medical Insurance" and other relevant documents, combined with the focus of the management of the national basic medical insurance, work-related injury insurance and maternity insurance drug catalogue in 2024, the National Health Insurance Administration has researched and drafted the "2024 National Basic Medical Insurance, Work-related Injury Insurance and Maternity Insurance Drug Catalogue Adjustment Work Plan (Draft for Comments)" and "2024 National Basic Medical Insurance, Work-related Injury Insurance and Maternity Insurance Drug Catalogue Adjustment Application Guidelines (Draft for Comments)". Including the scope of adjustment of the drug catalogue in 2024 and related working procedures, it will be open to the public for comments. (CCTV News)
4. Food and Agriculture Organization of the United Nations: It is expected that the global supply of major food commodities will be sufficient from 2024 to 2025
According to the latest Food Outlook report released by the Food and Agriculture Organization of the United Nations on June 13, the world's supply of most major food commodities is expected to be sufficient from 2024 to 2025, but extreme weather, heightened geopolitical tensions, sudden policy changes and other factors may upset the global supply-demand balance, affecting food prices and global food security. On the production side, world rice and oilseed production is expected to reach record levels, while wheat and maize production are likely to decline slightly. The report also tentatively predicts that the global food import bill will increase by 2.5 percent in 2024 to more than $2 trillion. However, this is presuppose relatively favourable macroeconomic conditions, including stable global economic growth and declining food commodity prices. (CCTV News)
5. Wang Shouwen, International Trade Negotiator and Vice Minister, attended the UNCTAD Ministerial Dialogue on "Promoting Trade and Development through Industrial Policy".
Wang Shouwen, International Trade Negotiator and Vice Minister of the Ministry of Commerce, attended the Ministerial Dialogue on "Promoting Trade and Development through Industrial Policy" and delivered a keynote speech, emphasizing that industrial development should reflect the principles of green, inclusive and sharing. China's photovoltaic, new energy vehicles and other products have made positive contributions to the world's energy conservation and emission reduction due to technological progress, and there is no overcapacity. China has shared the dividends of China's development with partner countries through the Belt and Road Initiative and the China International Import Expo, and has become the largest export market for 45 countries and regions. (Ministry of Commerce)
International News
1. Russian Foreign Ministry Spokesperson: NATO is preparing for a potential military conflict with Russia
On June 13, local time, Russian Foreign Ministry spokesperson Zakharova said that Russia did not and does not have any invasion plans for NATO, but NATO has formulated a plan against Russia, and NATO is preparing for a potential military conflict with Russia.
2. U.S. natural gas futures are trading lower awaiting the EIA inventory report
US natural gas futures are trading lower, pending the release of the weekly inventory report from the U.S. Energy Information Administration (EIA). The report is expected to show that below-average underground inventory injections will further erode the large excess gas that has accumulated during an unusually mild winter. Eli Rubin, senior energy analyst at energy consultancy EBW Analytics Group, said: "After a number of weaker-than-expected data in May and last week's holiday-affected data, unexpected data could trigger market volatility. ”
3. SAIC MG responds to the EU's tariffs on China's new energy vehicles
SAIC MG brand issued a statement on the EU's imposition of temporary tariffs on China's new energy vehicles. It mentioned that the proportion of additional tariffs imposed on SAIC MG brands reached 38.1%, and the total proportion of tariffs reached 48.1%. It is reported that in 2023, the MG brand will achieve terminal deliveries of 231,818 units in the European market.
4. The US PPI report further confirmed that inflationary pressures are easing
According to foreign media reports, the PPI in the United States unexpectedly fell in May, the largest decline in seven months, further proving that inflationary pressures are easing. Data released Thursday by the Bureau of Labor Statistics showed that the PPI, which represents final demand, fell 0.2% from the previous month and rose 2.2% from a year earlier. Ahead of the PPI report, consumer price data for May also showed a general cooling of the economy. Since last July, Fed officials have kept the benchmark interest rate at its highest level in more than 20 years. The Fed's dot plot on Wednesday showed that they expect to cut rates only once this year while waiting for further progress on inflation.
5. Britain announced widespread sanctions against Russia for the first time imposed sanctions on Russian shadow oil tankers
The UK has announced a wide range of sanctions against Russia, including the first attempt to strike a fleet of shadow tankers carrying Russian oil and a major Moscow-based insurance company. The sanctions target four oil tankers that help Russia evade Western sanctions, as well as Ingosstrakh Insurance Co., a key company that insures risks, including oil spills and collisions. The UK government's statement identified a total of 50 entities and individuals, which the UK government said aimed to cut off funding for the Russia-Ukraine conflict. In addition, the sanctions have targeted the Russian military's arms, machine tools, and logistics providers, including entities based in Israel, Kyrgyzstan, and Turkey. In addition, the United Kingdom has cooperated with the United States to target the Moscow Stock Exchange for sanctions. This follows similar actions in the United States, while the European Union is on the verge of introducing restrictions.
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