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IFF Newsletter Issue 106
TIME：2024-01-11
From the Editor
China’s exports of cars surged 62% in 2023 and the country has overtaken Japan as the world’s largest auto exporter, according to the China Passenger Car Association. China’s exports of cars surged 62% in 2023 and the country has overtaken Japan as the world’s largest auto exporter, according to the China Passenger Car Association. Car maker BYD became the top electric car seller in the last quarter of 2023.
And it’s official. 2023 was the hottest year on record. The continuing increase in concentration of greenhouse gas concentration and the El Niño led to the unprecedented high surface temperatures in the ocean which was a critical driver of the rise in temperatures, according to Copernicus, Europe’s climate change service. The US Securities and Exchange Commission on Wednesday has approved 11 applications to offer exchange-traded funds (ETFs) tied to bitcoin.
China’s car exports jump 62% in 2023
China’s exports of cars surged 62% in 2023 and the country has overtaken Japan as the world’s largest auto exporter, according to the China Passenger Car Association.
China exported a record 3.83 million vehicles in 2023, data from the association showed.
Exports of new-energy passenger vehicles surged 72% in 2023 from the previous year, the data showed.
Retail sales of passenger cars in China rose 5.6% year on year.
China’s logistics activities expand in December
China’s logistics activities expand in December, data from the China Federation of Logistics and Purchasing (CLFP) showed on Sunday.
The index tracking logistics activities came in at 53.5 in December, up 0.2% from November. The 50-mark separates growth from contraction.
The index for new logistics stood at 52.8.
China’s financial regulators announced measures to bolster support for the housing rental market, the official Xinhua news agency reported.
China is to establish a financial support system for housing rentals, according to a statement by the People’s Bank of China and the National Administration of Financial Regulation,
The regulators will encourage the development of specialized and large-scale housing rental enterprises.
The financial regulators will grant more credit and diversified financing channels to rental home development and operation.
China will create a sound environment for the development of the private economy, the head of the top economic planner told private entrepreneurs.
Speaking at a conference, Zheng Shanjie head of the National Development and Reform Commission , said his department with work with other department to strengthen efforts to protect the rights and interests of private businesses.
China’s new energy vehicle (NEV) maker BYD overtook Tesla and became the top electric car seller in the fourth quarter of 2023.
The Shenzhen-based auto maker sold 526,409 all electric cars in Oct.-Dec. period, surpassing Tesla’s sale of 484,507 cars.
The company sold 3.02 million NEV last year.
Newsletter
International News
The year 2023 was the hottest year on record, according a climate report released on Tuesday by Copernicus, Europe’s climate change service.
2023 had a global average temperature of 14.98°C, 1.48°C higher than the pre-industrial level and 0.17°C higher than the previous highest record in 2016.
The continuing increase in concentration of greenhouse gas concentration and the El Niño led to the unprecedented high surface temperatures in the ocean which was a critical driver of the rise in temperatures, according to Copernicus.
Consumer Electronics Show (CES) has kicked off in Las Vegas.
The multi-day trade event is expected to bring 130,000 attendees and more than 4,000 exhibitors, according to AP.
Artificial intelligence (AI) has been front and center of this year’s show. Many companies have show off AI features in their products according to media reports.
The US Securities and Exchange Commission on Wednesday has approved 11 applications to offer exchange-traded funds (ETFs) tied to bitcoin.
Most of the products are expected to begin trading Thursday.
Gary Gensler, chairperson of the SEC said the move was not an endorsement of the cryptocurrency.
“Investors should remain cautious about the myriad risks associated with bitcoin and products whose value is tied to crypto.”
Extreme weather as the top risk is to present a material crisis on a global scale in 2024, the World Economic Forum said in its latest report.
Climate-related threats dominate the top 10 risks global population will face.
The biggest short-term risk in 2024 is misinformation, which will further widen societal and political divides.
The US economy added 216,000 jobs in December data from the Bureau of Labour Statistics showed on Friday.
The country’s unemployment rate was unchanged at 3.7% last month.
Job growth was mainly in government, health care, social assistance and construction, according to the bureau.
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