On February 24, 2022, the Russia-Ukraine conflict broke out. As of today, the conflict has been going on for 1,000 days. Now, Russia and Ukraine are engaged in fierce fighting on a number of important battlefields.

The UN Security Council voted on a draft resolution on a ceasefire in Gaza co-drafted by 10 non-permanent members on the afternoon of the 19th. It is understood that the draft still calls for an immediate and unconditional ceasefire and the release of the hostages.

Goldman Sachs said gold is expected to rise to record highs given central bank buying and the prospect of U.S. interest rate cuts next year, adding that gold is among its preferred commodities trading in 2025 and said gold prices could rise further during Trump's presidency.

In October, the output of industrial crude oil above designated size was 17.77 million tons, a year-on-year increase of 2.5%, and the growth rate was 1.4 percentage points faster than that in September, with an average daily output of 573,000 tons. Imported crude oil was 44.7 million tons, down 8.7% year-on-year.

In the first 10 months of 2024, China's trade volume with APEC economies reached a record high of 21.27 trillion yuan, accounting for 59.1% of China's total trade. Financial reforms have also deepened, supporting high-quality economic development.

In the first 10 months of 2024, China-Laos train traffic under customs supervision increased by 36.5%, and China's economic confidence is growing as foreign institutions raise growth forecasts. Interbank deposits are expected to see standardized pricing, and CICC predicts improved investor risk appetite in 2025.

In October, China's SME development index increased by 0.3 points, marking the largest monthly increase since March last year. Additionally, green loans in China grew rapidly, with a balance of 35.75 trillion yuan as of the end of the third quarter, up 25.1% year-on-year.

China's central and local governments are speeding up the implementation of policies to support the private economy, while the number of registered private enterprises in the country has surpassed 55 million. The National Development and Reform Commission is enhancing communication mechanisms and promoting private capital participation in major infrastructure projects.

China's exports in October increased by 12.7% year-on-year to $309.06 billion, reaching a 27-month high. Imports fell by 2.3% to $213.34 billion. The trade surplus was $95.73 billion, the third highest in history. In the first 10 months of 2024, China's total import and export value was $5.07 trillion, up 3.7% year-on-year.

The offshore yuan rose for the second consecutive day, with short-term implied volatility surging. The total number of private economic entities in China reached 180,864,800 as of the end of September, marking a significant increase over the past decade. The Ministry of Industry and Information Technology encourages mergers and reorganizations of high-quality new energy vehicle enterprises to enhance industry concentration and combat unfair competition.

China's commodity price index in October showed significant positive changes in economic operation, with prices rising 3% month-on-month. The Caixin services PMI rebounded to 52, a three-month high, indicating improved market demand and economic vitality.

China's IoT connections are expected to surpass 3 billion this year, and the marine GDP grew by 5.4% in the first three quarters, reaching 7.7 trillion yuan. The State-owned Assets Supervision and Administration Commission aims to ensure the successful completion of central enterprise reform and development goals. The Ministry of Industry and Information Technology is selecting the first batch of advanced and applicable technologies. Internationally, the 'Trump deal' faced skepticism, causing the dollar to fall and U.S. bonds to rise. Singapore's MAS is promoting tokenization in financial services, and Japan successfully launched its new H3 rocket.

China's manufacturing PMI rose to 50.3 in October, returning to the expansion range. The real estate market saw a surge, with 'Silver Oct.' surpassing 'Golden Sep.' for the first time since 2007. The Ministry of Commerce plans new consumption policies, and the 12th Session of the 14th NPC Standing Committee discusses several key laws.

In the first three quarters, China's total social logistics reached 258.2 trillion yuan, growing 5.6% year-on-year. The manufacturing PMI price index saw a significant rebound in October, with the purchase price index and ex-factory price index rising by 8.3 and 5.9 percentage points, respectively.

China's imports and exports in national pilot free trade zones increased by 11.99% in the first three quarters. The IATA aviation industry financial settlement system will be the first to use digital yuan, promoting its internationalization in the global aviation industry. The 136th Canton Fair's third phase launches with 11,703 exhibitors, while Transport Canada lifts restrictions on Chinese mainland airlines.