Macroeconomics

1. [Foreign Exchange Reserves] According to statistics from the State Administration of Foreign Exchange, as of the end of January 2026, my country's foreign exchange reserves amounted to US$3,399.1 billion, an increase of US$41.2 billion compared to the end of December 2025, representing a growth of 1.23%.

2. [Excavators] According to statistics from the China Construction Machinery Association on major excavator manufacturers, 18,708 excavators of various types were sold in January 2026, a year-on-year increase of 49.5%. Of these, domestic sales totaled 8,723 units (including 24 electric excavators), a year-on-year increase of 61.4%; exports totaled 9,985 units (including 11 electric excavators), a year-on-year increase of 40.5%.

3. [University of Michigan Consumer Sentiment Index] The preliminary reading of the University of Michigan Consumer Sentiment Index for February in the United States was 57.3, the highest level in six months. At the same time, the 1-year inflation expectation fell to 3.5%, the lowest level in a year.

Building Materials

1. [Paper] Shanying Paper's South China base: PM31, PM32, PM33, and PM35 machines were shut down for 14 days from February 8th to February 21st, affecting paper types including cypress, redwood, and high-strength corrugated paper.

Shanying Paper's Guangdong base: PM53 machine was shut down for 17 days from February 8th to February 22nd, affecting T-paper and high-strength corrugated paper; PM52 machine was shut down for 18 days from February 8th to February 23rd, affecting redwood and T-paper.

Pinghu Rongcheng Paper: PM6 machine was shut down for 8 days from February 8th to February 15th, affecting T-paper; PM7 machine was shut down for 7 days from February 8th to February 14th, affecting corrugated paper.

Wuxi Rongcheng Paper: PM3A machine was shut down for 13 days from February 9th to February 21st, affecting T-paper.

2. [Glass] Dongtai Zhongbo's first glass production line (designed capacity of 600 tons/day) was shut down on February 5th.

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