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January 22nd - The 2026 National Tobacco Work Conference was held in Beijing from January 18th to 19th. Regarding the work for 2026, Li Lecheng emphasized the need to prioritize the stable operation of the tobacco economy, placing it as a priority, promoting cost reduction and efficiency improvement across the entire industry chain, and accelerating the cultivation of new economic growth points; to focus on developing new quality productivity, actively integrating into the national innovation system and the layout of international science and technology innovation centers, and promoting the deep integration of technological and industrial innovation; and to focus on building a strong and high-quality modern tobacco industry system, accelerating the optimization and upgrading of the industrial structure. He also stressed the importance of strengthening market supervision, cracking down on tobacco-related illegal activities across the entire chain, and improving the regulatory effectiveness of e-cigarettes and various new tobacco-related products.On January 22, Zhijie Auto announced that its Zhijie R7 pure electric Ultra version achieved the lowest drag coefficient among mass-produced SUVs in the industry, with a measured drag coefficient of 0.217Cd at 120km/h and 23℃ in a professional wind tunnel test conducted by the China Automotive Technology and Research Center.On January 22, the Ministry of Agriculture and Rural Affairs released information at a press conference held by the State Council Information Office, showing that by 2025, my countrys agricultural modernization level will continue to improve, with the contribution rate of agricultural science and technology progress exceeding 64%. In 2025, my country will support the construction and upgrading of 75.68 million mu of high-standard farmland, bringing the cumulative total to over 1 billion mu. The seed industry revitalization action will be steadily promoted, the research and application of agricultural machinery and equipment will accelerate, the application scenarios of smart agriculture will expand across the entire chain, and the pace of green transformation in agriculture will accelerate.On January 22, according to Qichacha APP, Haixun Aurora New Energy Automotive Components (Beijing) Co., Ltd. was recently established with a registered capital of 100 million yuan. Its business scope includes: manufacturing of auto parts and accessories; wholesale of auto parts; retail of auto parts; and sales of electronic components and electromechanical equipment. Qichachas equity penetration analysis shows that the company is wholly owned by Beijing Hainachuan Automotive Components Co., Ltd., a subsidiary of Beijing Automotive Group Co., Ltd.Hong Kong-listed gold stocks retreated, with Everest Gold (01815.HK) and Datang Gold (08299.HK) falling by more than 4%, while Zhaojin Mining (01818.HK), Lingbao Gold (03330.HK), and Chifeng Gold (06693.HK) fell by 3.5%.

The AUD/NZD Exchange Rate Retests Its Monthly Low Below 1.0850 As Aussie Inflation and GDP Decline

Alina Haynes

Mar 01, 2023 11:53

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The AUD/NZD pair has been heavily offered by market players after the Australian Consumer Price Index (CPI) data for the prior month experienced a sharp drop. Additional rate increases are anticipated even though RBA Governor Philip Lowe already increased the Official Cash Rate (OCR) to 3.25 percent in an effort to curb sticky inflation. This is because it would be imprudent to proclaim success in the struggle against rising price pressures.

 

Other than the Aussie inflation statistics, the Q4 Gross Domestic Product (GDP) estimates came in below expectations. The Australian Bureau of Statistics published a decrease in GDP (Q4) data from the consensus estimate of 0.8% and the Q3 number of 0.6% to 0.5%. When annualized, the Economy has met forecasts at 2.7%.

 

The New Zealand Dollar and the Australian Dollar will continue to trade despite the release of the Caixin Manufacturing PMI data. IHS Markit is expected to show an increase in economic data to 50.2 from 49.2 in the prior release.

 

While the consensus forecast called for a 1.5% rise, this week's New Zealand Retail Sales (Q4) figures showed a 0.6% decline. Future inflation in New Zealand is likely to be moderated by a decline in household demand because businesses will be compelled to give products and services at reduced rates to maintain present demand levels.


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