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financial news:

1. central bank: at the end of august, the balance of broad money (m2) was 305.05 trillion yuan, a year-on-year increase of 6.3%. the balance of narrow money (m1) was 63.02 trillion yuan, a year-on-year decrease of 7.3%. the balance of currency in circulation (m0) was 11.95 trillion yuan, a year-on-year increase of 12.2%. in the first eight months, the net cash injection was 602.8 billion yuan. in the first eight months, rmb loans increased by 14.43 trillion yuan. according to preliminary statistics, the cumulative increase in social financing scale in the first eight months of 2024 was 21.9 trillion yuan, 3.32 trillion yuan less than the same period last year.

2. on the 13th, the united states decided to significantly increase import tariffs on chinese products, including a 100% increase in tariffs on electric vehicles, in order to strengthen protection of domestic strategic industries in the united states. a press release from the office of the united states trade representative stated that some tariffs will take effect on september 27. in addition to a 100% tariff on chinese electric vehicles, the united states will also impose a 50% tariff on chinese solar cells and a 25% tariff on chinese steel, aluminum, electric vehicle batteries and key minerals. at the same time, the united states will increase import tariffs on chinese semiconductors by 50%, and this new tax rate will take effect in january 2025.

3. statistics bureau: in august, the added value of industrial enterprises above designated size increased by 4.5% year-on-year and 0.32% month-on-month. in terms of the three major categories, the added value of mining industry increased by 3.7% year-on-year, the manufacturing industry increased by 4.3%, and the production and supply of electricity, heat, gas and water increased by 6.8%. the added value of equipment manufacturing industry increased by 6.4% year-on-year, and the added value of high-tech manufacturing industry increased by 8.6%, which were 1.9 and 4.1 percentage points faster than the added value of all industrial enterprises above designated size respectively. the national economy is generally stable.