Macroeconomics

1. [Macroeconomic Policy] The People's Bank of China held a macroeconomic prudential work conference in 2026, emphasizing the gradual expansion of the coverage of macroeconomic prudential policies, proactively assessing systemic financial risks, innovating and enriching the policy toolkit, and maintaining the stable operation of the financial market and the overall stability of the financial system.

2. [Industrial Enterprise Profits] According to data from the National Bureau of Statistics, in 2025, the total profits of industrial enterprises above designated size nationwide reached 7,398.2 billion RMB, a year-on-year increase of 0.6%. In 2025, the mining industry achieved total profits of 834.51 billion RMB, a decrease of 26.2% year-on-year; the manufacturing industry achieved total profits of 5,691.57 billion RMB, an increase of 5.0%; and the electricity, heat, gas, and water production and supply industries achieved total profits of 872.12 billion RMB, an increase of 9.4%.

3. [US-South Korea Tariffs] On January 26, Trump announced on social media that because the South Korean parliament had not yet approved the trade agreement previously reached between the two governments, the US tariffs on imports of South Korean automobiles, timber, pharmaceuticals, and other "reciprocal tariffs" would be increased from 15% to 25%.

Building Materials

1. [Corrugated Cardboard] Jinhua Renlong Packaging Co., Ltd. will stop accepting orders on February 1, 2026.  Orders for color boxes will stop being accepted on January 26, 2026. The company will be closed for the holiday from February 7, 2026 to February 23, 2026, a total of 17 days. Production, order taking, and all business operations will officially resume on February 24, 2026 (the eighth day of the first lunar month).

Shenzhen Ruijia Paper Products Packaging Co., Ltd. will stop accepting pre-holiday orders on January 31, 2026 (orders for post-holiday delivery are accepted). The Spring Festival holiday will be from February 9, 2026 (the twenty-second day of the twelfth lunar month) to February 25, 2026 (the ninth day of the first lunar month).  The company will officially resume operations on February 26, 2026 (the tenth day of the first lunar month).

2. [Glass] Gansu Kaisheng Daming Guangneng Technology Co., Ltd.'s float glass production line with a designed capacity of 600 tons resumed production and ignition on January 25th.

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