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On September 13th, the Ministry of Industry and Information Technology and eight other government departments issued the "Automotive Industry Stable Growth Work Plan (2025-2026)." The plan outlines efforts to improve the quality and efficiency of auto exports. Automotive and supply chain companies are encouraged to develop and produce products suitable for the destination market, strengthen cooperation with local businesses, and improve international marketing and after-sales service systems. The role of industry organizations and the International Development and Innovation Alliance of auto companies will be leveraged to establish an international public comprehensive service platform for the automotive industry, providing consulting services on automotive market demand, standards, regulations, and management policies in key countries and regions. The plan also aims to guide automakers in developing overseas operations in a prudent and orderly manner, adapting to local conditions and jointly building and sharing industrial and supply chain systems to comprehensively improve their compliance capabilities.On September 13th, the Ministry of Industry and Information Technology and eight other government departments issued the "Automotive Industry Stable Growth Work Plan (2025-2026)." The plan outlines the promotion of the industrialization and application of intelligent connected technologies. Pilot programs for "vehicle-road-cloud" integrated applications of intelligent connected vehicles will be carried out in depth, the construction of connected infrastructure and cloud control platforms will be accelerated, and the pre-installation of high-performance communication modules such as V2X and 5G in vehicles will be encouraged. The large-scale application of the Beidou system will be accelerated, and applications in multiple scenarios such as logistics, sanitation, and travel services will be promoted. Key regions will be encouraged to gradually expand cross-regional collaborative applications. Pilot programs for the entry and on-road use of intelligent connected vehicles will be promoted, with conditional approval for the production of Level 3 models. The plan will also promote the improvement of laws and regulations on road traffic safety and insurance. Support will be provided to enterprises in the automotive, information and communications, and transportation industries, leveraging data to explore new business models and accelerate the development of diversified value chains.On September 13th, the Ministry of Industry and Information Technology and eight other government departments issued the "Automotive Industry Stable Growth Work Plan (2025-2026)." The plan emphasizes ensuring the stability of the industrial chain and supply chain. The plan emphasizes deepening the implementation of the high-quality development initiative for the manufacturing industry, continuously improving the resilience and security of the industrial chain and supply chain. The plan also emphasizes continuing to promote the "promotion of the list" by large enterprises and the "review of the list" by small and medium-sized enterprises. This initiative aims to cultivate a number of specialized industrial clusters of small and medium-sized enterprises within the automotive industry chain, helping more small and medium-sized enterprises integrate into the supply chains of large enterprises and forming a mutually dependent, mutually reinforcing, stable, and efficient industrial chain and supply chain system. The plan also emphasizes leveraging the public service platform for automotive industry chain safety monitoring and assessment to dynamically monitor supply chain trends and identify safety risks early.On September 13th, the Ministry of Industry and Information Technology and eight other government departments issued the "Automotive Industry Stable Growth Work Plan (2025-2026)." The plan calls for accelerating the digital and intelligent transformation of the automotive industry. It promotes the application of artificial intelligence in R&D, design, production, manufacturing, operations, and management. It continues to cultivate and promote the tiered development of smart factories, supports enterprises in building smart factories in a tiered manner, and promotes the collaborative digital transformation of the industrial chain and supply chain. It also builds a digital transformation scenario map and cultivates scenario-specific digital products and solutions. It also aims to improve the industrys digital transformation service system, develop and promote standards for the classification and grading of automotive industry digital transformation service providers, and cultivate a group of professional service providers.On September 13th, the Ministry of Industry and Information Technology and eight other government departments issued the "Automotive Industry Stable Growth Work Plan (2025-2026)." The plan calls for strengthening cost investigations and price monitoring, intensifying supervision and inspection of product consistency, and urging key automakers to fulfill their payment commitments. The "Key Automakers Response Window for Issues (Suggestions) Regarding Payment Commitments" will be leveraged to receive feedback from suppliers and coordinate solutions. Industry bodies will be guided in developing payment standards for suppliers of automakers. A special campaign will be launched to address online irregularities in the automotive industry, standardize the release of industry data and information, and crack down on false advertising and commercial defamation in accordance with the law, resolutely maintaining a healthy, orderly, and clean market environment.

The USD/CAD exchange rate moves above 1.3560 in advance of US/Canadian employment data, as oil prices consolidate

Alina Haynes

Jan 06, 2023 11:15

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In the early Asian session, the USD/CAD pair is bouncing within a narrow range of 1.3560-1.3580. The Canadian dollar has retreated to a sideways pattern following a rise from the psychological support level of 1.3500. After the upbeat United States Automatic Statistics Processing (ADP) Employment Change data prompted a trend of risk aversion, market participants demonstrated higher demand for the US Dollar.

 

Rising expectations of a long-term aggressive monetary policy by the Federal Reserve (Fed) enhanced the appeal of the safe-haven currency, which pushed the US Dollar Index (DXY) to the important resistance level of 105.00. Additionally, it boosted 10-year US Treasury yields above 3.72 percent. In the interim, after a fall on Thursday, demand for S&P500 futures has increased, indicating a minor improvement in investors' risk appetite.

 

Compared to the predicted 150K, the US economy has created 235K jobs for job seekers, according to the US ADP. Stronger labor demand is undoubtedly indicative of a healthy economy, but in times of soaring inflation, it provides the Fed with a solid reason to delay a rate cut in the near future.

 

Investors will keenly examine Friday's release of US Nonfarm Payrolls (NFP) data in order to obtain deeper insight into the status of the US labor market.

 

Likewise, the Canadian Dollar will respond to the release of Employment data. Compared to the earlier estimate of 10k, the net increase in payrolls for December is expected to be 8k. The jobless rate may increase slightly to 5.2%.

 

Before the release of the official US Employment report, the price of oil exhibits rangebound behavior. Since the Covid-19 scenario may reach its culmination more quickly, the black gold may gain strength. Notably, Canada is the United States' leading oil exporter, and higher oil prices strengthen the Canadian Dollar.

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