[Key Focus] National railways are expected to send 5.9 million passengers on the 4th. On the eve of National Day, Shanghai achieved the first equipment renovation loan to be implemented. The RBA raised the benchmark interest rate to 2.

[Key Focus]

National Railway is expected to send 5.9 million passengers on the 4th

On the eve of National Day, Shanghai realized the first equipment update and transformation loan implementation

RBA raised the benchmark interest rate to 2.6%

Eurozone August PPI rose 5% month-on-month

[Domestic News]

•The Shanghai headquarters of the People's Bank of China strengthened cooperation and information sharing with the Shanghai Development and Reform Commission, Shanghai Banking and Insurance Regulatory Bureau, Shanghai Finance Bureau and other departments, guided financial institutions to timely strengthen the docking of financial services, and realized the first equipment update and transformation loan implementation on the eve of National Day. On September 30, the Shanghai Branch of the Agricultural Bank of China issued the first equipment update and transformation loan to the Fudan University , supporting its equipment purchase and supporting facilities such as teaching and scientific research, experimental training, and promoting the overall improvement of the school's scientific research level.

•It was learned from China National Railway Group Co., Ltd. that on October 3, the national railway sent a total of 5.861 million passengers and started 8,308 trains. On October 4, the national railway is expected to send 5.9 million passengers and plans to launch 7,728 trains. In response to the strong winds, rains, cooling and other weather in some areas, the transportation department has also increased its service efforts to ensure passengers' travel.

• Agricultural Bank of China recently announced that it will increase its support for autumn harvest and autumn seeds this year. It is expected that during the autumn harvest period, a total of more than 300 billion yuan of agricultural loans will be issued, focusing on supporting grain production, agricultural product collection and storage, cold chain logistics, farmland facilities construction and other fields.

•The "Jilin City Commercial Personal Housing Loan to Housing Provident Fund Loan Management Measures (Draft for Comments)" was solicited for opinions from the public from September 29 to October 19. The draft opinion shows that the amount of commercial to public loans shall not be higher than the maximum loan limit in Jilin City: the maximum loan amount of a single employee who pays housing provident fund is 400,000 yuan, and the maximum loan amount of a double employee who pays housing provident fund is 600,000 yuan, and the loan amount shall not be higher than 10 times the balance of the housing provident fund account of the borrower and his spouse.

• According to the latest data released by BYD and Tesla on the evening of the 63rd, in the third quarter of 2022, BYD's global sales exceeded Tesla's nearly 200,000 vehicles.

[International News]

•The Federal Reserve Bank of Australia ( central bank ) announced that it would raise the benchmark interest rate by 25 basis points to 2.6%, which is the sixth time the RBA raises interest rates in half a year . RBA Governor Philip Low reiterated the Bank's determination to restore inflation to its target level of 2-3%, saying that the central bank may continue to raise interest rates in the future, and will determine the timing and scale of future interest rate hikes based on the latest economic data and its assessment of inflation and labor market prospects.

•The Eurozone August Producer Price Index (PPI) rose 5.0% from the previous month, and is expected to rise 4.9%; the Eurozone August Producer Price Index (PPI) rose 43.3% from the same period last year, and is expected to rise 43.1%.

•The UK 10-year and 30-year Treasury yields ended inverting, the first time since the Bank of England intervened.

• United Nations Conference on Trade and Development html warned on the 63rd that the monetary and fiscal policies of developed economies may put the global economy into recession and long-term stagnation, causing more serious damage than the impact of the 2008 international financial crisis and the 2020 COVID-19 pandemic.

•Saudi Aramco CEO said that it will take 30 days for Saudi Arabia to reach its maximum capacity of 12 million barrels per day, and oil demand is expected to rebound.

•Uganda Bureau of Statistics (UBOS) said that as of September 2022, the overall annual inflation rate of Uganda has risen from 9% in August to 10%.

[At a glance of domestic and foreign markets]

[Economic Data and Dynamics (Beijing Time)]

Editor: Luo Hao

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