This week's heavy schedule: China's Q1 economic report card, senior officials visiting Southeast Asia, Powell's speech, ECB decision, Goldman Sachs, TSMC, and Cambricon earnings report, Chagee Holdings Ltd. listed on the US stock market

Overview of Major Financial Events from April 14 to 20, all in Beijing Time:

In terms of major events, the European Union will delay its countermeasures against U.S. tariffs for 90 days, seeking to reach a "fully balanced" trade agreement; Trump will announce details of semiconductor tariffs on Monday; Federal Reserve officials will collectively speak, with the market closely watching Powell; the European and Canadian central banks will announce interest rate decisions; the 2025 World Internet Conference Asia-Pacific Summit; the world's first "Human-Machine Co-Running" half marathon; Chagee Holdings Ltd. will be listed on NASDAQ on the 17th; and Xiaomi's AI smart glasses will be released on the 17th.

In terms of data, China will release a series of key economic data, including first-quarter Gross Domestic Product (GDP), March foreign trade, retail, investment, unemployment rate, industrial added value data, as well as March social financing and credit financial data.

In terms of earnings reports, focus on Goldman Sachs, TSMC, Hermès, Louis Vuitton, and Cambricon Technologies.

China's Q1 Economic Report Card

During the week, China will release a series of key economic data, including first-quarter Gross Domestic Product (GDP), March foreign trade, retail, investment, unemployment rate, and industrial added value data.

According to Securities Daily, experts generally believe that the recovery of industrial production and consumption momentum in the first quarter provides strong support for the economy, while real estate investment and related industries still have some drag. With the recovery of domestic demand and policy boosts, the year-on-year GDP growth rate for Q1 2025 is expected to be around 5.2%, higher than the economic growth target for 2025.

The CICC team expects the GDP growth rate for Q1 to be around 5.3%. CICC's research report states that under the influence of the Spring Festival misalignment and policy stimulation, the economic growth rate in March may show marginal improvement compared to the previous two months. The Spring Festival misalignment mainly reflects that economic activities recovered earlier than the same period last year, and the low base supports the growth rate to some extent. Policy stimulation mainly reflects that consumption and infrastructure may accelerate; in terms of consumption, the "trade-in" progress accelerated in March, especially with significant marginal improvement in automobile sales; in terms of investment, the arrival of fiscal funds and the advancement of physical workload have driven infrastructure investment growth. Additionally, under trade uncertainties, preemptive exports may also boost March's export growth rate.

Xiong Yuan, chief economist at Guosheng Securities, believes that overall, in the past half month, policies continue to focus on stabilizing growth and expanding domestic demand. Attention should be paid to three types of policies that are likely to be introduced: cuts in reserve requirements and interest rates, which may exceed expectations; increased fiscal stimulus, such as the possibility of issuing more government bonds within the year; and greater efforts to expand domestic demand, including expanding the scale of "trade-in" subsidies, raising the minimum wage standard, and increasing the standard for maternity allowances.

In addition, China's March social financing, credit, and other financial data will be released intermittently from the 9th to the 15th. Earlier published data showed that the social financing scale increased by 2.23 trillion yuan in February, with new RMB loans of 1.01 trillion yuan, new RMB deposits of 4.42 trillion yuan, and an M2-M1 spread of 6.9%, further widening compared to the previous month

Federal Reserve Officials Gather, Market Focuses on Powell's Speech

Amidst the volatility in U.S. stocks, rising U.S. Treasury yields, a weakening dollar, and the backdrop of Trump's tariff policies, investors are looking for any clues about interest rate cuts from the intensive speeches of Federal Reserve policymakers.

Federal Reserve Chairman Jerome Powell will provide his assessment of the economy in a speech at the Chicago Economic Club on Wednesday. On the same day, 2025 FOMC voting member, Kansas City Fed President Esther George, and Dallas Fed President Lorie Logan will hold a fireside chat on the U.S. economy and banking sector.

On Monday, Fed Governor Christopher Waller will speak on the economic outlook, and on Tuesday, Fed Governor Lisa Cook will deliver remarks. Additionally, Philadelphia Fed President Patrick Harker, Cleveland Fed President Loretta Mester, Atlanta Fed President Raphael Bostic, and Richmond Fed President Thomas Barkin will all be speaking.

G7 Central Bank Rate Decisions Amid Trade War Shadows

Since Trump reignited the trade war, global markets have been in turmoil, and this week the first central bank decisions from the G7 may show a clear divergence across the Atlantic: the European Central Bank may cut rates to address potential economic damage, while the Bank of Canada may hold steady due to inflation concerns.

As Trump's tariffs could hit the European economy, and the EU has not yet taken countermeasures that might exacerbate inflation, the market widely expects the ECB to cut rates by 25 basis points at its monetary policy meeting on Thursday.

Bloomberg economists David Powell and Simona della Chiaie stated, "The ECB's rate decision on April 17 is becoming easier to make. In addition to the direct impact of U.S. tariffs on the Eurozone economy, the Governing Council must also consider the effects of a strong currency."

In contrast, Canada faces a more complex balancing act. While Trump's tariffs have already harmed business investment and consumer spending, inflation expectations are soaring. Consumer price data released on Tuesday may become a key basis for their judgment.

In addition to Europe and Canada, several other central bank decisions are expected this week: the Monetary Authority of Singapore is expected to cut rates on Monday, while the Bank of Korea is expected to maintain rates on Thursday...

EU Delays Countermeasures Against U.S. Tariffs for 90 Days, Seeks to Reach a "Fully Balanced" Trade Agreement

According to CCTV News, on April 9 local time, EU member states unanimously voted to approve the first round of countermeasures. The first round plans to impose tariffs of up to 25% on U.S. products worth approximately €21 billion (about $23.2 billion), which was originally set to take effect on April 15.

However, after Trump suddenly made concessions (according to Shanghai Securities Journal, Trump postponed the originally planned 20% tariffs on EU goods for 90 days and adjusted the rate to 10%), the EU also decided to delay its countermeasuresOn Thursday, European Commission President Ursula von der Leyen stated that the EU will postpone the implementation of counter-tariffs on the United States for 90 days, during which a "fully balanced" trade agreement will be reached with Washington. However, if negotiations fail within the 90 days, tariffs will be imposed on U.S. service trade, particularly targeting the digital advertising revenues of tech giants like Meta, Google, and Facebook.

Trump Announces Details of Semiconductor Tariffs

According to Securities Times, on April 12 local time, U.S. President Trump stated that he would announce details regarding semiconductor tariffs next Monday. On the same day, the White House indicated that Trump would continue to urge tech companies to shift production to the U.S. A White House official mentioned that Trump would soon order a study on the impact of semiconductor imports on national security, known as a "Section 232" study.

The day before, according to Xinhua News Agency, the U.S. agreed to exempt electronic products such as smartphones, computers, and chips from so-called "reciprocal tariffs". This policy shift can provide relief for tech giants, especially for companies like Apple, NVIDIA, and Microsoft. Approximately 80% of Apple's iPhones are produced in China.

Wedbush analyst Dan Ives stated that after the Trump administration exempted popular consumer electronics and key components, the U.S. tech industry temporarily avoided the brink of collapse.

Other Important Data, Meetings, and Events

U.S.-Iran Talks End in a "Constructive" Atmosphere, Continuing Next Week

According to Xinhua News Agency, Iran and the U.S. concluded the first round of talks held in Muscat, Oman, on April 12, with both sides stating that the talks were "constructive" and agreeing to hold the next round of talks next week.

New Round of Oil Price Adjustment Window Opens

At 24:00 on April 17, the domestic retail price adjustment window for refined oil will open. So far this year, domestic oil prices have undergone seven rounds of adjustment windows, with three increases, three decreases, and one stagnation.

137th Canton Fair

The 137th Canton Fair will be held in Guangzhou from April 15 to May 5 in three phases, featuring over 300 activities to create a comprehensive consumption event integrating business, travel, culture, and sports. This year's Canton Fair will also set up a service robot area to showcase various products, including embodied robots, commercial service robots, and educational entertainment robots.

5th China International Consumer Products Expo

From April 13 to 18, the 5th China International Consumer Products Expo will be held in Hainan Province. Slovakia will participate for the first time in the form of a national pavilion, while regions like São Paulo in Brazil will organize regional pavilions for the first time. The UK will serve as the guest country of honor. This year's expo will also establish a guest province for the first time, with Beijing taking on this role.

2025 World Internet Conference Asia-Pacific Summit

The 2025 World Internet Conference Asia-Pacific Summit will be held in Hong Kong, China, from April 14 to 15, with global internet leaders such as Qualcomm, Intel, AMD, Tencent, Alibaba, and Huawei in attendance. Emerging internet companies like Yushu Technology, Qiangnao Technology, and Qunhe Technology from the "Hangzhou Six Little Dragons" have also confirmed their participationThe world's first "Human-Robot Co-Running" Half Marathon postponed to the 19th

The Beijing Yizhuang Half Marathon and Humanoid Robot Half Marathon has been postponed to April 19. This event is the world's first "Human-Robot Co-Running" half marathon: humanoid robots and humans will register together and start simultaneously, running a total of 21.0975 kilometers.

World Quantum Day

World Quantum Day is set for April 14 each year. This holiday was jointly proposed by quantum scientists from around the world to inspire interest and enthusiasm for quantum technology and to raise public awareness of the positive impact of quantum science on society.

15th Beijing International Film Festival

The 15th Beijing International Film Festival will be held in Beijing from April 18 to 26, 2025. This year also marks the 15th anniversary of the Beijing International Film Festival.

3rd China International General Aviation and Drone Development Conference

The 3rd China International General Aviation and Drone Development Conference will be held in Beijing from April 14 to 16. The conference will feature a main forum on the coordinated development of general aviation and drones, as well as eight parallel forums including the Low-altitude Economy and Airport Economy Integration Development Forum, Low-altitude Economy and Regional Economic Development Forum, Low-altitude Infrastructure Planning and Construction Forum, and Low-altitude Application Scenario Expansion and Business Model Exploration Forum.

Zhipu opens multiple models

Zhipu's base model GLM-4-Air0414, inference model GLM-Z1-Air, contemplation model Z1-Rumination, and agent framework will all be open-sourced on April 14.

HarmonyOS Smart Mobility New Product Launch Conference

The HarmonyOS Smart Mobility New Product Launch Conference will be held on April 16 at 14:00, where new products for HarmonyOS Smart Home and smart glasses, as well as new HarmonyOS Smart Mobility products, will be unveiled.

HarmonyOS Smart Mobility Smart World Brand Night

The HarmonyOS Smart Mobility Smart World Brand Night will open on the 17th of this month at 18:20, with brand ambassador Liu Yifei attending the event to witness the launch of the new version of the Smart World R7 extended range. The R7 Extended Ultra version will also be launched, equipped with Huawei DriveONE dual motors.

Xiaomi AI Smart Glasses to be released on the 17th

According to CNMO Technology news, Xiaomi may hold a new product launch conference on April 17, potentially introducing the new Xiaomi 15s series and news about the new car YU7. The new AI glasses are expected to be officially unveiled at this event. Previously, it was reported that Xiaomi AI glasses have already obtained network access permission.

2025 Global Machine Learning Technology Conference

The "2025 Global Machine Learning Technology Conference (MLSummit 2025)" co-hosted by CSDN and Boolan will be held from April 18 to 19 at Hongqiao, Shanghai.

Nio's third brand firefly's first model to be launched on the 19th

Nio's third brand firefly has announced that its first model will be launched on April 19, with deliveries starting immediately. This year, firefly will establish its first demonstration operation stations in core cities, and subsequently connect to Nio's fifth-generation battery swap stations using existing battery specifications and battery swap standardsEuropean and American stock markets, and Chinese Hong Kong stocks will be closed on the 18th

The European and American stock markets will be closed for one day due to Good Friday, and the Chinese Hong Kong stock market will also be closed for one day.

New investment opportunities, focus on "the first U.S. stock of new tea drinks"

In the A-share market, Tian Youwei will open for subscription on April 14; on April 15, Zhongjie Automobile and Jiangshun Technology will open for subscription. In the Hong Kong stock market, Zhengli New Energy will be listed on April 14; on April 15, Ying'en Biotechnology-B will be listed. In the U.S. stock market, on April 17, Phoenix Asia Holdings Ltd, Haoxin Holdings, Airo Group Holdings Inc, and Chagee Holdings Ltd. will be listed on NASDAQ.

Chagee Holdings Ltd. will officially list on NASDAQ in the United States on the evening of April 17, Beijing time. According to the latest documents, Chagee Holdings Ltd. will issue a total of 14,683,991 American Depositary Shares, which are Class A common shares, with an expected issuance price range of between $26 and $28. Based on this calculation, the total fundraising amount for Chagee Holdings Ltd.'s IPO is expected to be between $380 million and $410 million