【Morning Post】The U.S. recently announced the exemption of "reciprocal tariffs" on certain products, the Ministry of Commerce responded; March financial data released.

Optimistic about front-end and back-end semiconductor equipment and component producers. The first batch of national standards for humanoid robots has been officially approved. According to media reports, the series of national standards for technical requirements of humanoid robots has been officially approved. Under the coordination of the Secretariat of the National Robot Standardization Technical Committee (TC591), which is undertaken by Beijing Research Institute of Automation for Machinery Industry Co., Ltd., Ubtech, in collaboration with Beijing Humanoid Robot Innovation Center Co., Ltd., Shanghai Artificial Intelligence Laboratory, and other units, initiated this series of national standards and led the formulation of operational technical requirements, including dexterous manipulation, leg movement operations, dual-arm operations, long-sequence execution, multi-machine coordination, obstacle avoidance, and driving range. ASEAN countries held a meeting of finance ministers and central bank governors to promote economic resilience and sustainable development. On April 10, the 12th ASEAN Finance Ministers and Central Bank Governors Meeting issued a joint statement, emphasizing that ASEAN countries will work together to build a resilient, inclusive, and sustainable regional economic future. The statement pointed out that with slowing inflation, strong domestic demand, stable investment activities, good export performance, and favorable employment conditions continue to support ASEAN's economic growth. Notably, a national high-end think tank is about to release a report titled "RCEP and the Vision of the Maritime Silk Road: New Space for China-ASEAN Cooperation." The "China-ASEAN Economic and Trade Cooperation Report" released by the RCEP Industrial Cooperation Committee pointed out that the two sides have been each other's largest trading partners for four consecutive years. According to a research report by Industrial Securities, in terms of products, China's exports to ASEAN are dominated by electrical machinery, electrical equipment, and mechanical appliances, which have long accounted for a high proportion of China's total exports to ASEAN. The analysis concluded that ASEAN's own demand has significantly boosted the export scale of basic chemicals (mainly plastics and their products, agricultural chemicals, and chemical raw materials), electronics (mainly components and other electronic parts), non-ferrous metals (mainly copper and aluminum), and steel; although the scale of automobiles is moderate, the growth rate is high; in addition, power equipment and new energy, home appliances, communications, coal, petrochemicals, and machinery are also worth noting. The National Film Administration responded to the US tariff hike on China: it will moderately reduce the number of US film imports. According to reports, when asked whether the recent US tariff hike on China would affect the import of US films, a spokesperson for the National Film Administration stated that the US government's erroneous actions of imposing excessive tariffs on China will inevitably further reduce domestic audiences' favorability towards US films. We will follow market rules, respect audience choices, and moderately reduce the number of US film imports. China is the world's second-largest film market, and we always adhere to a high level of openness to the outside world, introducing excellent films from more countries around the world to meet market demand. In 2025, "Nezha: The Devil's Child" grossed over 15.4 billion yuan globally, ranking fifth in the global box office chart. Pei Yifan from AVIC Securities believes that the film is regarded as a "main theme under new circumstances," aligning with the national direction of promoting high-quality development of the cultural industry, and is expected to stimulate consumption while continuously strengthening cultural confidence.

SMM

【Morning Post】The U.S. recently announced the exemption of "reciprocal tariffs" on certain products, the Ministry of Commerce responded; March financial data released.

The U.S. announced exemptions for certain products from "reciprocal tariffs," and the macro sentiment improved, with aluminum futures continuing to rise. [SMM Aluminum Morning Meeting Summary]

The Impact of the Tariff War Intensifies, Authoritative Experts Interpret the "Room" for China's Macro Policies