【Key Focus】 • China's Finance Minister Lan Fo'an met with Canadian Finance Minister Chrystia Freeland. • Nearly 300 million passenger trips are estimated for the first day of the Qingming Festival holiday. • The White House plans to reduce funding for international organizations and invest in reopening Alcatraz prison.

【Domestic News】 • On the afternoon of April 2, China's Finance Minister Lan Fo'an met with Canadian Finance Minister Chrystia Freeland in Beijing. They exchanged views on China-Canada relations, economic ties, and the macroeconomic situations and policies of both countries. • On the first day of the Qingming Festival holiday (April 4), cross-regional passenger trips in China are estimated to reach 295.913 million, a year-on-year increase of 2.7%. • On April 3, China's railways carried 18.252 million passengers, with safe and orderly operations. On April 4, railways are expected to transport 21.9 million passengers, with 1,173 additional trains scheduled. • The National Bureau of Statistics released data on price changes for important means of production in the circulation sector for late March 2026. Monitoring of 50 key products across 9 categories showed that 31 products saw price increases, 16 decreased, and 3 remained unchanged compared to mid-March. The price of live pigs (foreign三元) was 9.5 yuan/kg, down 5.9% from the previous period. • The State Administration for Market Regulation announced that a proposed international standard for "DC filter capacitors for high-voltage direct current transmission systems," initiated by China, has been approved by the International Electrotechnical Commission (IEC). This is the first international standard specifically for DC filter capacitors in HVDC transmission, filling a gap in the field. • The Shanghai Shipping Exchange released its weekly report on China's export container shipping market. This week, the market continues to face tense geopolitical conditions, with freight rates on most deep-sea routes rising, driving up the composite index. On April 3, the Shanghai Containerized Freight Index reached 1854.96 points, up 1.5% from the previous period. The Persian Gulf route remains stagnant, with the market characterized by high prices but no transactions. The freight rate from Shanghai to basic ports in the Persian Gulf (including ocean freight and surcharges) was $3,977 per TEU on April 3, up 6.7% from the previous period. • In the first quarter of 2026, Shenzhen Airport recorded over 1.754 million inbound and outbound passengers, a nearly 12% year-on-year increase, setting a new record for the period. Visa-free entries for foreigners surged by over 60%.

【International News】 • The U.S. Office of Management and Budget released the government's budget proposal for fiscal year 2027 (October 2026 to September 2027) on April 3. Besides a significant increase in defense spending, the plan includes cuts to funding for international organizations like the UN and proposes investment to renovate and reopen the Alcatraz Island Federal Penitentiary in California. The proposal outlines $2.16 trillion in baseline discretionary spending, an increase of $372 billion (20.8%) from the current fiscal year. The Department of Defense budget is set at $1.45 trillion, a sharp increase of $440.9 billion (43.7%). • According to a report on April 3 by The Wall Street Journal, citing mediators and informed officials, efforts by some regional countries to broker a ceasefire between the U.S. and Iran have reached a stalemate. Furthermore, Qatar has refused to act as the primary mediator for a U.S.-Iran ceasefire agreement. • Legal documents released on April 3 by the U.S. District Court for the District of Columbia show that Chief Judge James Boasberg upheld a decision to dismiss two subpoenas issued by federal prosecutors to the Federal Reserve. The prosecutors had subpoenaed records related to recent renovations of the Fed building and Chairman Jerome Powell's congressional testimony. • Turkey's Trade Ministry announced on April 3 that it has eliminated tariffs on some basic nitrogenous and compound fertilizers, including urea, to protect the agricultural sector from rising costs due to the conflict in Iran and to ensure fertilizer supply security. • The Dubai Media Office stated on April 4 that the facade of the Oracle building in Dubai Internet City was slightly damaged by debris from an intercepted missile, with no casualties reported.