Jin10 Summary: August Economic Data Release, Middle East Situation, and AI Cooperation
TechFlow reports that on September 16, according to Jinshi Data, China's value-added of industrial enterprises above designated size rose 5.2% year-on-year in August, with total retail sales of consumer goods reaching 3.9824 trillion yuan, up 0.4% year-on-year. From January to August, fixed-asset investment fell 7.2% year-on-year, while real estate investment declined by 19.9%.
On the Middle East front, an attack on a Saudi oil pipeline halted operations at Yanbu port, while the Kremlin called for the removal of sanctions against Russia. Volatility persisted in the US bond market, with the 10-year yield climbing to its highest point since 2007; Treasury Secretary Bessent attributed this to global factors and rising oil prices.
In the technology sector, OpenAI announced a collaboration with Anthropic and Google on AI safety efforts. The US House Speaker emphasized that AI development cannot be paused, with industry executives anticipated to visit the White House within a week. Meanwhile, Iran's Foreign Minister visited China today, and the National Development and Reform Commission convened a symposium with private enterprises.
