Yinhua CSI A500 ETF(159339.SZ)

The NASDAQ Golden Dragon China Index rose over 2.1% at the beginning of the trading session

Global news you need to know before the U.S. stock market opens on Wednesday

The Ministry of Industry and Information Technology has launched the second phase of 6G technology testing, with AI penetrating 70% of smart factory scenarios. Trump claims that U.S. inflation has been defeated, expecting a 5.4% economic growth in the fourth quarter. The South Korean president responded to chip tariff threats, stating that tax increases will be paid by Americans. Japan's second-largest bank is preparing to buy the dip, while Qatar's $580 billion sovereign fund is contemplating a restructuring. Bridgewater's China return rate is expected to reach 45% by 2025, with assets under management of $60 billion. PDD rose 7% in pre-market trading, U.S. stock index futures all rose, and Japanese bonds rebounded

USTR says he doesn't know if comprehensive trade deal with China will happen -Fox Business interview

U.S. Trade Representative Jamieson Greer expressed uncertainty about achieving a comprehensive trade deal with China during a Fox Business interview. He emphasized the importance of managing the U.S.-China relationship, suggesting that multiple agreements may be necessary. Greer noted that the U.S. is actively monitoring trade with China, indicating positive trends in agricultural goods sales.

BREAKINGVIEWS-Canada’s trade war reset will be a gentle one

Canada is navigating a trade war with the U.S. by strengthening ties with China and boosting exports. Prime Minister Mark Carney is set to review the USMCA trade agreement while repairing relations with Beijing, resulting in a deal to import 49,000 electric vehicles and lower tariffs on Canadian canola. Despite these efforts, the U.S. remains Canada's dominant trade partner, absorbing about 75% of its exports. The situation poses challenges, especially with U.S. tariffs impacting key industries. Carney's approach aims to diversify trade and secure investments, marking a gentle reset in Canada's trade strategy.

China NEV retail sales drop 16% year-on-year to 312,000 units in Jan 1-18

China's NEV retail sales dropped 16% year-on-year to 312,000 units from January 1-18, amid a 28% decline in total passenger vehicle sales to 679,000 units. The NEV retail penetration rate was 45.95%. Wholesale NEV sales also fell by 23% year-on-year. The decline is attributed to the end of vehicle purchase tax exemptions and the expiration of trade-in subsidies. However, the market is expected to improve as new subsidies are implemented and consumer purchasing power increases before the Spring Festival. CAAM forecasts NEV sales to grow 15.2% to 19 million units in 2026.