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On January 29th, Jiumuwang announced that it expects to achieve a net profit attributable to shareholders of the listed company of 270 million to 324 million yuan in 2025, an increase of 93.79 million to 148 million yuan compared with the same period last year, representing a year-on-year growth of 54% to 84%. During the reporting period, affected by fluctuations in the secondary market, the fair value change gains and losses of the company's financial assets are expected to be 80 million to 90 million yuan, compared with a loss of 58.555 million yuan in the same period last year. The fair value change gains during the reporting period increased by approximately 140 million yuan compared with the same period last year.

Swiss customs data: Swiss seasonally adjusted watch exports rose 4.6% year-on-year in December, on a nominal basis, to CHF 2.15 billion.

On January 29th, Mike Sanders, head of fixed income at Madison Investments, stated in a report that regardless of who is nominated, the next Federal Reserve chair will find it difficult to implement openly politically driven interest rate policies. He indicated that even appointing a more dovish candidate would be constrained by the cautious and conservative Federal Open Market Committee. "Attempting aggressive moves at the front of the yield curve is likely to lead to higher long-term yields, ultimately contradicting the original policy objectives," Sanders said.

On January 29th, He Yongqian, spokesperson for the Ministry of Commerce, stated at a press conference that domestic services and other community-based family services are crucial to the well-being of the elderly and children, and are closely related to people's lives. In 2025, the Ministry of Commerce, the Ministry of Finance, the State Taxation Administration, and other departments, fully considering the important role of the domestic service industry in promoting consumption, stabilizing employment, and benefiting people's livelihoods, and based on feedback from the industry, promoted the extension of the aforementioned five tax and six fee preferential policies to the end of 2027. Going forward, the Ministry of Commerce will continue to cooperate with relevant departments to implement the tax and fee preferential policies in detail, conduct policy publicity and interpretation, and ensure that more high-value support policies benefit a wider range of domestic service companies, thereby accelerating the high-quality development of the domestic service industry.

On January 29th, Scott Helfstein, Head of Investment Strategy at Global X, stated in a report that real interest rates may still be too high, potentially prompting the Federal Reserve to cut rates again soon. "This leads us to believe that the Fed may remain more dovish than the market expects and cut rates again as early as the first quarter," he said. Helfstein believes the current market is likely driven by fundamentals, and the earnings season so far has met high expectations, with many companies reiterating their guidance.

On January 29th, Principal Asset Management's Global Chief Strategist, Hima Shah, stated that Federal Reserve Governor Waller's dissenting vote on the Fed's decision to keep interest rates unchanged solidifies his position as a contender for Fed Chair. "More importantly, his argument that policy needs to move closer to a neutral stance is likely to gain more support over time—especially as signs of a cooling labor market become more concrete and the downward trend in inflation persists," Shah said.

On January 29th, Catalyst Funds Chief Investment Officer David Miller noted in a report that the two dissenting votes at this Federal Reserve meeting "highlight growing concerns that policy may already be tight enough." He stated that while inflation is cooling and labor market momentum is weakening, the broader committee indicated a cautious, meeting-by-meeting approach to policymaking in 2026. Miller believes that against the backdrop of legal scrutiny and questions about the Fed's independence, the outcome of this meeting was less of a strong policy statement and more of a pattern of maintaining the status quo. In this interest rate decision, Milan and Waller opposed the decision to keep interest rates unchanged, advocating for a 25 basis point cut.

GFZ (German Center for Geosciences): A 6.27-magnitude earthquake struck the South Sandwich Islands region.

On January 29, at a regular press conference held by the Ministry of National Defense, spokesperson Jiang Bin stated that facts have proven that any attempt to contain or encircle China is doomed to failure. Mutual respect, peaceful coexistence, and win-win cooperation are the correct path for China and the United States to get along. China is willing to work with the United States to promote the stable development of China-US relations while firmly safeguarding its own sovereignty, security, and development interests. China hopes that the United States will establish an objective and rational understanding of China, adhere to the bottom line of non-conflict and non-confrontation, stop exaggerating the so-called "China military threat," stop inciting bloc confrontation, and stop saying one thing and doing another on issues involving China's core interests, and take concrete actions to promote the healthy and stable development of relations between the two militaries.

On January 29, Foreign Ministry Spokesperson Guo Jiakun held a regular press conference. Guo stated that China's position on the Ukraine crisis is consistent and clear: we never add fuel to the fire, nor do we seek personal gain, and we do not accept blame-shifting. He stated that China has consistently called on all parties to adhere to the three principles of de-escalation: "no spillover of the battlefield, no escalation of the conflict, and no instigation by any party," and to jointly create conditions for a political solution to the crisis. China will continue to play a constructive role in alleviating the humanitarian situation in Ukraine in its own way.

On January 29th, Reliance Industries suspended its Russian crude oil imports for the first time since 2022 this month. According to sources, the company will resume imports of approximately 150,000 barrels per day starting in February, continuing limited purchases of oil from unsanctioned Russian producers. Sanctions imposed on Rosneft last October prompted Reliance Industries to suspend its oil purchase agreements and reduce its imports from a peak of approximately 590,000 barrels of Russian crude oil last year. Sources indicated that crude oil purchased from unsanctioned Russian producers will be processed at Reliance Industries' 663,000-barrel-per-day Dzhamnagor refinery, which primarily serves the domestic market. To compensate for the shortfall in Russian crude oil imports, Reliance Industries has increased its oil purchases from the Middle East, West Africa, Brazil, and the United States.

On January 29th, the Ministry of Commerce held a regular press conference. At the Ministry of Commerce's regular press conference on December 25th last year, it was reported that TikTok had signed agreements with three investors to establish a new TikTok US joint venture to ensure its continued operation in the US. What is the spokesperson's comment on this? He Yongqian stated that, in order to implement the important consensus reached during the phone call between the leaders of China and the US, the economic and trade teams of both sides had previously reached a basic framework consensus on properly resolving issues such as TikTok through cooperation, based on mutual respect and equal consultation. The Chinese government hopes that companies will reach solutions that comply with Chinese laws and regulations and balance interests. It hopes that the US will work with China in the same direction, earnestly fulfill its corresponding commitments, provide a fair, open, transparent, and non-discriminatory business environment for the continued and stable operation of Chinese companies in the US, and promote the stable, healthy, and sustainable development of China-US economic and trade relations.

On January 29th, the Ministry of Commerce held a regular press conference. According to media reports, Finnish Prime Minister Orpo arrived in Beijing on January 25th for a four-day official visit to China. This is the first visit by a Finnish prime minister to China since 2017, and Orpo becomes the second EU leader to visit China in three weeks. Ministry of Commerce spokesperson He Yongqian stated that the Ministry supports Finnish companies in expanding their exports of high-quality products and services to China.

On January 29th, the Ministry of National Defense held a regular press conference, where Senior Colonel Chiang Bin, spokesperson for the Ministry of National Defense, answered reporters' questions. Reporter: It has been reported that the Legislative Yuan voted on the draft agenda on January 23rd. The Democratic Progressive Party (DPP) caucus proposed adding the NT$1.25 trillion "Special Defense Act" to the report items, but the proposal was rejected by the KMT and TPP with 55 votes to 48. This marks the eighth time the "Special Defense Act" has been blocked since it was submitted to the Legislative Yuan for review. What is the spokesperson's comment on this? Chiang Bin stated that the DPP authorities are using various pretexts to deceive the public and engage in opaque operations, squandering the hard-earned money of the Taiwanese people to enrich foreign arms dealers and using the opportunity for corruption. Such despicable behavior has long been unpopular. NT$1.25 trillion cannot buy so-called "security"; it will only further hollow out Taiwan and accelerate its descent into a dangerous situation of war. The more rampant the provocations by "Taiwan independence" forces, the faster they will head towards their demise.

On January 29, Foreign Ministry Spokesperson Guo Jiakun held a regular press conference. Some foreign media reported that British Prime Minister Starmer stated during his meeting with President Xi Jinping that he hoped to establish a "mature" relationship with Beijing. How does China interpret this statement? What exactly does this "mature" relationship entail? In response, Guo Jiakun stated: "President Xi Jinping and Prime Minister Starmer held a successful meeting this morning. The two leaders agreed that China and the UK should develop a long-term, stable, and comprehensive strategic partnership. This reflects a new vision for China-UK relations and provides a positive and stable expectation for cooperation between all sectors of both countries."

Sources say Abu Dhabi National Oil Company’s trading arm has leased a fuel oil storage facility in Singapore for the first time.

On January 29, in response to the execution of 11 criminals in the Mingjia criminal syndicate case, Foreign Ministry Spokesperson Guo Jiakun stated at a regular press conference that for some time now, China has been actively cooperating with Myanmar and other countries to combat cross-border telecommunications and online fraud, jointly eradicating the scourge of online gambling and telecommunications fraud, safeguarding the lives and property of the people, and maintaining the order of exchanges and cooperation among regional countries, achieving remarkable results. China will continue to deepen international law enforcement cooperation, intensify efforts to combat online gambling, telecommunications fraud, and other related cross-border criminal activities, and jointly eradicate this scourge.

On January 29th, Richard Flynn, Managing Director of Charles Schwab UK, noted in a report that unless there is a substantial shift in inflation or labor market dynamics, the Federal Reserve is likely to maintain its data-driven approach until at least May 2026. However, he stated that this is an extraordinary period for US monetary policy. "The increasingly open struggle between monetary independence and fiscal power makes the Fed's institutional credibility a more acute focus," he pointed out. Flynn stated that this independence remains the cornerstone of global confidence in the dollar, US Treasuries, and the broader US capital markets.

Market news: As India reduces its reliance on Russian oil, Reliance Industries plans to decrease its imports of Russian oil.