Daily Macro Economy News

Daily Macro Economy News

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Domestic News

1. GCL Group plans to win the bid for a 1.56GW N-type module centralized procurement project

2. The first ultra-deep shale gas well in southern Sichuan was tested and obtained high-yield industrial gas flow

3. Shandong: The target is to increase GDP by more than 5% in 2024

4. PetroChina established a digital intelligence research institute company with 500 million yuan, and its business includes the research and development of intelligent robots

International News

1. Poland wins concessions from the EU, which will restrict Ukrainian grain imports

2. Nickel prices continue to decline, and global producers are under tremendous pressure

3. BHP Group will overhaul some of the equipment of its Kambalda nickel ore concentrator plant in Australia

4. Novatek, Russia's largest independent natural gas producer: The company's UST-Luga (natural gas) facility in St. Petersburg, Russia, was suspended after a fire

Domestic News

1. GCL Group plans to win the bid for a 1.56GW N-type module centralized procurement project

Recently, China Resources New Energy Xinjiang Company announced the winning candidate for the centralized procurement of photovoltaic module equipment for photovoltaic projects in Hotan area, and GCL ranked first among the winning candidates. It is reported that this is another gigawatt-level order to be won after GCL announced that it had signed a 1.1GW high-efficiency solar module supply contract with India's NTPC at the beginning of the year. According to the bidding documents, the total capacity of this bidding is 1560MWp scale photovoltaic modules, including N-type bifacial monocrystalline silicon photovoltaic modules, supporting module connection joints, etc.

2. The first ultra-deep shale gas well in southern Sichuan was tested and obtained high-yield industrial gas flow

According to the official WeChat news of PetroChina Southwest Oil and Gas Field Company, on January 19, the first ultra-deep shale gas well in southern Sichuan was tested and obtained a high-yield industrial gas flow, marking a historic breakthrough in the ultra-deep field of the LMX group of shale gas in southern Sichuan.

3. Shandong: The target is to increase GDP by more than 5% in 2024

The second session of the 14th Shandong Provincial People's Congress opened on the morning of January 22. The government work report suggests that the main expected goals of the province's economic and social development this year are: regional GDP growth of more than 5%, general public budget revenue growth of 4%, per capita disposable income growth of about 5.5%, new urban employment of more than 1.1 million people, consumer price growth control of about 3%, comprehensive grain production capacity stable at more than 110 billion catties, foreign trade and foreign investment to promote stability and quality improvement, and fully complete the binding indicators of energy conservation, emission reduction and carbon reduction and environmental quality improvement.

4. PetroChina established a digital intelligence research institute company with 500 million yuan, and its business includes the research and development of intelligent robots

Tianyancha shows that recently, PetroChina (Beijing) Digital Intelligence Research Institute Co., Ltd. was established with a registered capital of 500 million, and its business scope includes industrial Internet data services, cloud computing equipment technical services, research and development of intelligent robots, artificial intelligence public data platform, etc. The company is wholly owned by PetroChina.

International News

1. Poland wins concessions from the EU, which will restrict Ukrainian grain imports

According to foreign media reports, Poland won concessions from the European Union in the fight to limit the import of Ukrainian grain. The EU's top trade official said Brussels would control the inflow of Ukrainian agricultural products if they lead to lower prices in Poland and other neighboring countries. Poland and Hungary imposed a unilateral import ban on Ukrainian agricultural products in April 2023 after widespread protests by farmers due to the influx of cheap agricultural products from Ukraine that has led to a surplus of food in the domestic market. European Commission Vice President Dombrovskis said additional safeguard measures would be provided for countries bordering Ukraine, and that the proposal should be presented this week.

2. Nickel prices continue to decline, and global producers are under tremendous pressure

According to institutional analysis, nickel prices have been depressed for a long time, and global producers are facing stress tests, which increases the possibility of large-scale closure of nickel mines, which may strengthen Indonesia's dominance in global nickel supply. With the price of rare earths for stainless steel and EV batteries down more than 40% from a year ago, the high-cost business is under increasing pressure due to oversupply in the global nickel market, which could pose the biggest risk to new projects outside Indonesia. Australia's nickel mines have suffered the most losses so far, with nickel producer Wyloo Metals previously saying it would close some mines, BHP Billiton warned last week about its Nickel West business outlook and First Quantum Minerals suspending a mine.

3. BHP Group will overhaul some of the equipment of its Kambalda nickel ore concentrator plant in Australia

According to foreign media reports, BHP group said on Monday that it will overhaul and maintain part of the facilities of its Kambalda nickel mine in western Australia. Previously, Wyloo Metals, which supplies ore to the concentrator, had announced that it would suspend mining business due to low nickel prices. BHP Group's President of Nickel West Assets, Jessica Farrell, said in a statement: "Wyloo's decision to suspend operations means that some of the equipment at the Kambalda concentrator will not be able to continue operations from mid-year. ”

4. Novatek, Russia's largest independent natural gas producer: The company's UST-Luga (natural gas) facility in St. Petersburg, Russia, was suspended after a fire

Novatek, Russia's largest independent natural gas producer: The company's UST-Luga (natural gas) facility in St. Petersburg, Russia, suspended operations following a fire.

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