China holds commerce work conference to make plans for 2025

A National Commerce Work Conference was held in Beijing this weekend to outline plans for 2025, emphasizing eight key perspectives including expanding cross-border commerce and trade-in programs.

First, a special campaign dedicated to stimulating consumption will be implemented, and consumer goods trade-in programs will be promoted with greater intensity and scope.

China will innovate and diversify consumption scenarios, expand service consumption, foster digital consumption, accelerate the development of a high-standard market system, and enhance the modern commercial circulation system.

Second, efforts will be intensified to ensure stable performance in foreign trade, and high-quality development of trade will be pursued.

China will foster new drivers of foreign trade, expand cross-border e-commerce, develop green trade, and advance digital trade. Multiple measures will be applied to support enterprises in exploring diverse international markets. China will actively expand imports. Additionally, China will adopt innovative measures to boost trade in services and develop digital trade.

Third, foreign investment will be stabilized while seeking further growth, and a first-rate business environment will be fostered.

China will expand voluntary and unilateral opening up in an orderly manner, continue to make China a favored destination for foreign investment, leverage national economic development zones as key investment hubs, and strengthen service support for foreign-invested enterprises.

Forth, the initiative to align with high-standard international trade rules will be taken, and high-standard opening-up platform will be built.

China will improve the quality and efficiency of pilot free trade zones and expand mandate for reform tasks, optimize the function of opening-up platforms, and elevate the quality and efficiency of exhibitions.

Fifth, international cooperation in industrial and supply chains will be facilitated, and the quality and level of foreign investment and cooperation will be enhanced.

China will deepen the reform of the foreign investment management system and improve the overseas comprehensive service system.

Sixth, pragmatic economic and trade cooperation will be strengthened, and more progress will be made in high-quality Belt and Road cooperation.

China will improve the economic and trade cooperation mechanism, deepen Silk Road e-commerce collaboration, coordinate the promotion of landmark projects alongside "small and beautiful" livelihood projects, and align cooperation in both traditional and emerging sectors.

Seventh, active participation in global economic governance will be fostered, and multilateral and bilateral regional economic and trade cooperation will be enhanced.

China will comprehensively engage in WTO reforms, expand the global network of high-standard free trade zones (FTZs), and strengthen bilateral economic and trade relations.

Eighth, major risks will be prevented and defused, and measures will be taken to resolutely safeguard national security.

China holds commerce work conference to make plans for 2025

U.S. stocks ended lower on Monday as renewed tensions in the Middle East rattled investors and a competitive shift in the shipping industry weighed heavily on the broader market.

The Dow Jones Industrial Average fell by 557.37 points, or 1.13 percent, to 48,941.90. The Standard and Poor's 500 sank 29.37 points, or 0.41 percent, to 7,200.75. The Nasdaq Composite Index shed 46.64 points, or 0.19 percent, to 25,067.80.

Ten of the 11 primary Standard and Poor's 500 sectors ended in the red, with materials and industrials leading the laggards by losing 1.57 percent and 1.17 percent, respectively. Meanwhile, energy bucked the trend by rising 0.85 percent.

Markets slide into negative territory following reports that two Iranian strikes hit a U.S. patrol boat and a U.S. warship was forced to turn back in the Strait of Hormuz.

While the U.S. officially denied the reports from Iranian media outlets, geopolitical anxieties worsened after the United Arab Emirates (UAE) reported that both an oil tanker operated by the Abu Dhabi National Oil Company and the Fujairah export terminal had been struck.

On the macroeconomic front, U.S. factory orders for March came in higher than expected, largely spurred by soaring demand for electronic components that underpin artificial intelligence technology. According to data released by the Commercial Department on Monday, factory orders rose 1.5 percent for the month, marking the largest increase since November.

In corporate developments, the logistics sector emerged as a major sore spot after Amazon announced plans to open its proprietary freight, distribution, fulfillment, and parcel shipping network to outside businesses. The move sent shockwaves through the shipping industry, causing GXO Logistics to drop 17.7 percent, while UPS and FedEx declined 10.47 percent and 9.44 percent, respectively.

Looking ahead, Wall Street is bracing for a busy week of corporate earnings, highlighted by results from major semiconductor manufacturers such as Lattice Semiconductor, Advanced Micro Devices, and Arm Holdings. Investors are also closely anticipating reports from Palantir and Paramount Skydance later in the week.

U.S. stocks finish lower amid renewed Middle East tensions

U.S. stocks finish lower amid renewed Middle East tensions