Next week's key agenda: State Council Information Office press conference, IMF-World Bank Spring Meetings, Eurozone and US PMI, Tesla, Alphabet, and BYD earnings reports

A summary of major financial events from April 21 to 27, all in Beijing time:

In terms of major events, the People's Bank of China will announce the 1/5-year Loan Prime Rate (LPR), the State Council Information Office will hold a press conference to introduce the "Plan for Accelerating the Comprehensive Pilot Work of Expanding the Opening Up of the Service Industry," tariff negotiations between the U.S. and Japan, and between the U.S. and South Korea, the 2025 Shanghai Auto Show will be held, and Huawei will release new supercharging pile products.

In terms of data, the U.S., Eurozone, and the UK will simultaneously release the preliminary values of the manufacturing and services PMIs for April, which will reflect the first wave of impacts from Trump's tariffs.

In terms of earnings reports, pay attention to Tesla, Alphabet, BYD Company Limited, Intel, and others.

People's Bank of China Announces 1/5-Year LPR

The People's Bank of China will announce the April 1/5-year Loan Prime Rate (LPR) on Monday. As of now, the 1-year LPR is 3.1%, and the 5-year LPR is 3.6%, both unchanged from the previous values, maintaining stability for five consecutive months.

Additionally, on April 25, the People's Bank of China will release the mid-term lending facility (MLF) data for April.

U.S.-Japan and U.S.-South Korea Tariff Negotiations

According to Global Times, U.S. Treasury Secretary Scott Basset stated on April 14 that the U.S. side will start tariff negotiations with South Korea next week. South Korean public opinion is concerned that conducting negotiations at this time is too hasty and may fall into traps set by the U.S., harming South Korea's national interests.

Additionally, it has been reported that Japanese Finance Minister Shunichi Suzuki will visit Washington next week, where he may hold bilateral talks with U.S. Treasury Secretary Basset during the G20 finance ministers' meeting and the IMF-World Bank Spring Meetings. The G20 finance and central bank ministers' meeting will be held on April 23-24, and the IMF-World Bank Spring Meetings will take place on April 25-26.

These discussions are likely to involve exchange rate issues. Nomura believes that if a certain consensus is reached between the U.S. and Japan, it could lead to a rapid appreciation of the yen, and the narrowing of the U.S.-Japan interest rate differential has become a major trend, with the USD/JPY exchange rate expected to fall below 140 by the end of the year, significantly ahead of previous forecasts.

Next Wednesday, the first wave of "data reflecting tariff impacts" from Europe and the U.S. will arrive

On Wednesday, the U.S., Eurozone, and the UK will simultaneously release the preliminary values of the manufacturing and services PMIs for April, which are seen as the first window to observe the extent of damage to business and consumer confidence.

The U.S. manufacturing input price index is particularly noteworthy, as it may reveal cost transmission after the tariffs take effect. In terms of Eurozone PMIs, closely monitor whether new export orders begin to weakenAt the same time, the Federal Reserve will release the Beige Book on economic conditions on Wednesday, revealing the actual impact of uncertainty and tariff policies on regional economies.

State Council Information Office Press Conference on April 21, Related to the Expansion of Service Industry Opening-up

According to the State Council Information Office website, the State Council Information Office will hold a press conference at 3 PM on April 21 (Monday), inviting Deputy Minister of Commerce and Deputy Representative for International Trade Negotiations Ling Ji, as well as relevant officials from the Ministry of Industry and Information Technology, the National Health Commission, and the People's Bank of China to introduce the "Comprehensive Pilot Work Plan for Accelerating the Expansion of Service Industry Opening-up" and answer questions from reporters.

Tesla, Google, BYD Financial Reports

Next week, the U.S. stock market will face the financial report tests of two tech giants, Tesla and Google.

Over the past two years, the stock prices of Tesla and Google have soared; however, since March, affected by the uncertainty of tariff policies, Tesla's stock price has retreated by 17%, and Google has not been spared, with a decline of 11%. Investors are eagerly looking forward to the upcoming financial reports to explore management's assessment of the supply chain restructuring process and cost transfer capabilities.

Meanwhile, industry giants such as Boeing, IBM, Merck, Intel, and Procter & Gamble will also release their latest financial reports next week.

Domestically, BYD, iFlytek, GoerTek, Luxshare Precision, China Mobile, China Telecom, ZTE, Changan Automobile, and Gree Electric Appliances will announce their financial reports.

BYD has forecast that its net profit attributable to shareholders for the first quarter is expected to reach 8.5 to 10 billion yuan, with a year-on-year growth rate of 86.04% to 118.88%. The increase in the financial report is mainly due to the sales of new energy vehicles exceeding one million units, a year-on-year surge of 59.8%.

Other Important Data, Meetings, and Events

The 15th Meeting of the 14th National People's Congress Standing Committee Will Be Held

According to Xinhua News Agency, the 42nd Chairman's Meeting of the 14th National People's Congress Standing Committee was held on the morning of the 18th at the Great Hall of the People in Beijing, presided over by Chairman Zhao Leji. The meeting decided that the 15th meeting of the 14th National People's Congress Standing Committee will be held in Beijing from April 27 to 30.

2025 Shanghai Auto Show

The 21st Shanghai International Automobile Industry Exhibition (2025 Shanghai Auto Show) will be held from April 23 to May 2 at the National Exhibition and Convention Center (Shanghai). During this auto show, major automakers and related exhibitors will hold hundreds of press conferences. The 2025 Global Automotive Leaders Closed-Door Summit will be held during the auto show.

GAC Group will debut at the 2025 Shanghai Auto Show, with four new models set to make their first appearance, and CATL's chocolate battery-swapping new model will also be showcased, achieving a full charge in two minutes.

2025 China Aerospace Conference

The 2025 China Aerospace Conference will be held in Shanghai from April 23 to 26, with the theme "The Bright Moon Rises Over the Sea, Grasping the Stars in the Nine Heavens" (jointly organized by the Chinese Society of Astronautics and the China Aerospace Foundation).

China's First Embodied Intelligent Robot Sports Games

The World Robot Competition is known as the "Olympics" of the robotics world and has been successfully held 10 times. The "2025 World Robot Competition - The First Embodied Intelligent Robot Sports Games" will be held from April 24 to 26 in Huishan District, Wuxi City, marking the first comprehensive sports event for embodied intelligence and humanoid robots held in China2025 China Humanoid Robot Ecosystem Conference

The "2025 China Humanoid Robot Ecosystem Conference" will be held in Shanghai on April 25-26. Yushu Technology, which has appeared on the Spring Festival Gala, will showcase multiple robots at the event (hosted by China Robot Network). In addition, industry star companies such as Leju, Magic Atom, Accelerated Evolution, and Star Motion Era will also present their latest technologies and products.

Second Global Low-altitude Economy Forum Spring Meeting

The Second Global Low-altitude Economy Forum Spring Meeting will take place in Beijing from April 26 to 27, focusing on discussions around topics such as "One Network Standard for Low-altitude Transportation" and "Trends in Low-altitude Economic Development."

Public Fund Q1 Report Disclosure Deadline

The disclosure deadline for public fund Q1 reports is April 22.

Huawei Releases New Super Charging Pile Product

On April 22 (next Tuesday), Huawei will hold the "2025 Huawei Smart Electric & Smart Charging Network Strategy and New Product Launch Conference." At the conference, Huawei will introduce a new megawatt super charging product.

According to Huawei's previous announcements, this megawatt-level charging product has a maximum charging current of 2400 amperes and a maximum power of 1.5 megawatts, capable of supplying 20 kilowatt-hours of electricity per minute, allowing a heavy-duty electric truck (with a battery capacity of about 300 kilowatt-hours) to be fully charged in 15 minutes. This product addresses safety issues in charging while also solving low-cost heat dissipation problems. Huawei revealed that more than 30 models of 4C super charging cooperative heavy-duty trucks will be launched this year.

Hong Kong and European Stock Markets Closed on the 21st

Due to Easter, the Hong Kong and European stock markets will be closed for one day on the 21st.

ASML 2025 Annual Shareholders Meeting

On April 23 local time, ASML will hold its 2025 Annual Shareholders Meeting. Due to the impact of tariff policies, ASML's new orders in the first quarter decreased sharply by 45% compared to the previous quarter. The company maintains its expectation that total net sales in 2025 will be between 30 billion and 35 billion euros, with second-quarter sales expected to be between 7.2 billion and 7.7 billion euros.

Baidu AI Developer Conference

The Create2025 Baidu AI Developer Conference will officially kick off on April 25 at the Wuhan Sports Center, where the Wenxin large model 4.5 Turbo will be officially unveiled.

SPARK2025 Tencent Games Launch Conference

The Tencent SPARK2025 Tencent Games Launch Conference will be held at 8 PM on April 22. This conference will reveal the latest developments and exclusive information about several games, including "Peace Elite," "League of Legends Mobile," "Valorant," and "Lock Kingdom: World."

VIVO X Series Spring New Product Launch

The vivo X series spring new product launch will take place at 7 PM on April 21, during which the vivo X200s, vivo X200 Ultra, vivo Pad 5 Pro, and vivo Watch 5 will be launched simultaneouslyWeekly Major Events Subscription：

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