Wednesday, 22 July 2020

News breakfast

"rising factors

1. The National Development and Reform Commission issued the second batch of investment in the central budget for the construction of Xiongan New area in 2020.

The National Development and Reform Commission (NDRC) recently announced an investment of 1.05 billion yuan in the second batch of central budget for the construction of Xiongan New area in 2020 to support the construction of high quality and high standards in Xiongan New area, according to the National Development and Reform Commission (NDRC). In the next step, the National Development and Reform Commission will coordinate with relevant parties to speed up the construction of major projects in Xiongan New area on the premise of regular prevention and control of the epidemic, help coordinate and solve the difficulties and problems in project construction in a timely manner, and continue to increase financial and policy support for the construction of the new area.

Downside factor

1. Passenger car Association: the passenger car market is expected to decline by 11% in 2020 compared with the same period last year.

According to the narrow passenger car data released by the Federation of passengers, the wholesale sales of passenger cars in the first half of the year were 7.667 million,-22.9% year-on-year, and the retail sales were 7.709 million,-22.5% compared with the same period last year. This year, the retail market grew by-41% in the first quarter and-3% in the second quarter. The growth rate of the car market stabilized in the second quarter compared with the same period last year, showing a V rebound compared with the first quarter. After taking into account the macroeconomic, industrial policy and market environment and other factors, the passenger car market is expected to decline by 11% in 2020 compared with the same period last year.

2. Rio Tinto (Rio Tinto) releases its production and sales report for the second quarter of 2020

In terms of production: in the second quarter of 2020, Rio Tinto produced 83.2 million tons of iron ore, an increase of 4 per cent year-on-year and 7 per cent month-on-month. Sales: in the second quarter of 2020, Rio Tinto's total iron ore shipments were 86.7 million tons, an increase of 1% year-on-year and 7% month-on-month. Target guidance: Rio Tinto said in its production and sales report for the second quarter of 2020 that its iron ore shipments at the Pilbara mine in 2020 were 3.24-334 million tons, unchanged from the previously published data. In addition, Rio Tinto said it remained optimistic about the Chinese market as the impact of the COVID-19 epidemic diminished and the economy recovered, benefiting from strong demand for iron ore in the Chinese market.

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