Jin10 Summary: August Economic Data Release, Middle East Tensions, and AI Cooperation

On September 16, according to Jin10 data, China's August industrial value-added output above designated size grew 5.2% year-on-year, with total retail sales of consumer goods at 3.9824 trillion yuan, up 0.4% year-on-year. From January to August, fixed-asset investment fell 7.2% year-on-year, and real estate investment dropped 19.9%.

Regarding Middle East tensions, an attack on a Saudi oil pipeline halted operations at the Yanbu port, and the Kremlin called for lifting sanctions on Russia. U.S. Treasury market fluctuated, with the 10-year yield rising to its highest level since 2007, which Treasury Secretary Bessent attributed to global issues and rising oil prices. In the tech sector, OpenAI announced cooperation with Anthropic and Google on AI safety work. The U.S. House Speaker stated that AI development cannot be paused, and executives are expected to visit the White House within a week. Additionally, Iran's Foreign Minister visited China today, and the NDRC held a private enterprise symposium.

[TechFlow]