Ps. Time is gone forever. It's best now, not to mention the future.

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The Russian Ministry of Foreign Affairs announced the expulsion of US diplomats in Russia

Recently, the Russian Ministry of Foreign Affairs summoned senior diplomats from the US diplomatic mission in Moscow and submitted to him A list of U.S. diplomats to be expelled. Previously, the United States expelled a diplomat from the Russian Permanent Mission to the United Nations in New York and a Russian official from the United Nations Secretariat.

| Tengdao comments: It also depends on which side can withstand it better.

The Central Bank of Russia announced that the benchmark interest rate will be maintained at 20%

A few days ago, the Governor of the Central Bank of Russia Nabiulina announced that the benchmark interest rate will be maintained at 20%. Russian central bank policymakers said that the country's economy is entering a stage of large-scale structural transformation, which will be followed by a temporary but inevitable period of rising inflation .

| Tengdao Comments: Warning on rising inflation and economic contraction.

RMB appreciation

Yesterday Offshore RMB Appreciation against the US dollar, euro, and Japanese yen

Yesterday The offshore RMB exchange rate against the US dollar appreciated slightly. As of press time, the offshore RMB exchange rate against the US dollar was reported at 6.3824, which was higher than the closing price of the previous trading day. The price is 6.3881, and the appreciation is 57 basis points.

yesterday the offshore RMB to euro exchange rate appreciated significantly, the offshore RMB to euro exchange rate reported 7.0065, compared with the closing price of the previous trading day 7.0299, an appreciation of 34 basis points.

Yesterday, the exchange rate of offshore RMB against 100 yen appreciated significantly. The exchange rate of offshore RMB against 100 yen was reported at 5.2300, which was an appreciation of 400 basis points compared with the closing price of 5.2700 on the previous trading day.

Yesterday Onshore RMB appreciated against the U.S. dollar, euro, and Japanese yen

Yesterday The onshore RMB exchange rate against the U.S. dollar appreciated slightly. As of press time, the onshore RMB exchange rate against the U.S. dollar reported 6.3705, which was 6 higher than the closing price of the previous trading day. 3720, appreciation 5 basis points.

The exchange rate of the onshore RMB against the euro appreciated significantly yesterday. The exchange rate of the onshore RMB against the euro reported 6.9920, which was an appreciation of 15 basis points compared with the closing price of the previous trading day 7.0135.

Yesterday, the exchange rate of onshore RMB against 100 yen appreciated significantly. The exchange rate of onshore RMB against 100 yen was reported at 5.2200, which was an appreciation of 400 basis points compared with the closing price of 5.2600 on the previous trading day.

Yesterday The central parity rate of the RMB depreciated against the US dollar and the Japanese yen, and appreciated against the euro

Yesterday The RMB exchange rate depreciated slightly against the US dollar. The central parity rate of the RMB against the US dollar was quoted at 6.3640, which was a depreciation of 82 basis points compared with the previous trading day 6.3558. .

Yesterday the exchange rate of the RMB against the euro appreciated slightly, and the central parity rate of the RMB against the euro was reported at 7.0038, which was an appreciation of 4 basis points compared with the previous trading day 7.0072.

The exchange rate of RMB against 100 yen depreciated slightly yesterday. The central parity rate of RMB against 100 yen was reported at 5.2534, which was 11 basis points depreciation compared with 5.2423 on the previous trading day.

| Outside Toast’s comment: Waiting for the fluctuation to arrive requires patience.

British inflation has set a new record in the past 30 years

The British Office for National Statistics recently stated that due to factors such as rising energy prices, the British Consumer Price Index (CPI) rose by 6.2% in February compared with the same period last year, the highest increase since March 1992. Highest. Among them, rising household energy and gasoline prices are the most important factors leading to a record high increase in CPI.

| Tengdao comments: Household energy prices have increased by nearly 25% year-on-year.

South Korea foreign direct investment hits a 54-year high

South Korea’s Ministry of Planning and Finance announced that South Korea’s foreign direct investment increased by 32.8% year-on-year in 2021 to US$75.87 billion, setting a new high since South Korea implemented the foreign direct investment system in 1968. Net foreign investment increased by 38.1% to US$58.42 billion, also hitting a record high.

| Tengdao comments: Enterprises internationalize and make profits in the global market.

Egypt allows commercial banks to set their own foreign exchange rates

Recently, the Monetary Policy Committee of the Egyptian Central Bank announced that foreign capital has continued to flow out of Egypt recently due to the impact of the Russia-Ukraine conflict and the Federal Reserve's interest rate hikes . To this end, Egypt has introduced a series of measures, including allowing commercial banks to set their own foreign exchange rates and allowing the Egyptian pound to depreciate against the US dollar.

| Tengdao comments: Countries are facing capital outflows and currency depreciation.

Thailand collects 3 billion baht in tax from foreign e-commerce platforms

Recently, the Thai government announced that it has collected more than 3 billion baht in value-added tax (VAT) in the five months since the implementation of the electronic services tax law. The tax law stipulates that foreign electronic service providers and e-commerce platforms must register and pay a 7% value-added tax if their annual income exceeds 1.8 million baht.

| Tengdao comments: The annual tax revenue of 10 billion baht is very stable.

SHEIN opens its first pop-up store in Brazil

A few days ago, SHEIN announced that it has opened its first pop-up store in Rio de Janeiro, Brazil. It plans to run for three months, during which various promotional activities will be carried out. The aesthetic elements used in the design of the store combine local characteristics and are closer to local consumers, strengthening SHEIN's new connection with Brazilian culture.

| Tengdao comments: Do you plan to follow Zara to become a fast fashion brand?

Suez Canal announced adjustments to surcharge standards

Recently, the Suez Canal Authority announced that it will adjust the surcharge standards for transit ships starting from May 1. Among them, the surcharge levied on the southbound container ship will be adjusted to 5% to 39% of the ordinary toll. The surcharge levied on northbound container ships will be adjusted to 9% to 57% of ordinary tolls.

| Tengdao comments: Unexpectedly, freight charges have increased, and tolls have also increased.

Yang Ming Shipping announced its results, with a net profit of NT$5.96 billion

Yang Ming Shipping announced that its operating income in 2021 was NT$333.7 billion (approximately US$12.04 billion), an increase of 121% from NT$151.3 billion in 2020; net profit before tax was NT$202.4 billion. Taiwan dollars (approximately US$7.30 billion), a year-on-year increase of 1153%; net profit for this period was NT$165.6 billion (approximately US$5.98 billion).

| Tengdao comments: The profits are not as high as Evergreen, but the bonuses can be rolled out.

Tencent announced its full-year results, with both revenue and net profit rising

Tencent’s results showed that Tencent’s full-year revenue in 2021 was 560.12 billion yuan, a year-on-year increase of 16%; net profit was 224.82 billion yuan, a year-on-year increase of 41%. Among them, revenue in the fourth quarter was 144.2 billion yuan, a year-on-year increase of 8%, recording the slowest single-quarter growth since listing.

| Tengdao comments: The impact of game regulation will be digested in the second half of the year.

ZTE announced victory in the lawsuit, and the five-year compliance observation period ended

Recently, the US court ruled that ZTE was allowed to end its five-year compliance observation period that began in 2017. Judging from the latest judgment, although ZTE has escaped the supervision of ZTE by the U.S. Department of Justice, the new 10-year denial order from the U.S. Department of Commerce’s Bureau of Industry and Security (BIS) still exists.

| Tengdao comments: The stock price has surged, driving 5G communications to soar.

Electronic skin is coming

Recently, Stanford University and Tianjin University research teams have designed an extremely elastic wearable display - stretchable all-polymer light-emitting diode (APLED).This design may mark an important advance in high-performance stretchable displays and lay the foundation for electronic skin and human-electronic applications.

| Tengdao comments: It will be more convenient to play games in the future.

It's drizzling, have a nice weekend

Ps. Time is gone forever. It's best now, not to mention the future. Good morning!