The week of March 2nd to March 8th features a lineup of significant financial events. All times mentioned are in Beijing Time.

The core themes for the upcoming week are as follows: Macro Theme: China and the US enter a synchronized policy observation window. Domestically, the fourth sessions of the 14th National People's Congress and the 14th National Committee of the Chinese People's Political Consultative Conference will open on March 5th and March 4th, respectively. These meetings will discuss the government work report and other relevant reports, as well as the draft outline for the 15th Five-Year Plan for National Economic and Social Development. Across the ocean, the US February non-farm payrolls data and the Federal Reserve's Beige Book will be released concurrently. If the job market shows a "significant slowdown" as expected, it could reshape the path for interest rate cuts. Geopolitical Theme: Focus remains on Iran and the Russia-Ukraine conflict. According to reports, the Islamic Revolutionary Guard Corps of Iran has stated that the Iranian armed forces are preparing to launch their "most fierce offensive operations," targeting Israeli and US bases. Simultaneously, a new round of talks between Ukraine and Russia, potentially mediated by the US, may take place on March 4th and 5th. Technology Theme: MWC ignites the "Intelligent Era," with hardware and AI taking center stage. The 2026 World Mobile Congress will be held with the theme "The IQ Era." The deep integration of AI and communications is a major highlight. Alibaba's "Qianwen" will launch its first AI glasses under the same name on March 2nd, officially entering the AI hardware arena. Apple will hold a simultaneous launch event in New York, Shanghai, and London on March 4th, where new MacBook models featuring the M5 chip are expected to be unveiled. Earnings Theme: Concentrated validation of AI computing and application performance. On March 2nd, MiniMax will release its first annual report since listing in Hong Kong. On March 5th, JD.com and Bilibili will announce their financial results, with market attention focused on consumer recovery and cost-efficiency improvements. Chip giant Broadcom will report earnings after the market close on March 4th, and its AI business guidance is highly anticipated. "Optical interconnect giant" Credo will also release its financial report on March 2nd.

Economic Indicators

US February Non-Farm Payrolls and ADP Employment, Fed Beige Book, ISM Manufacturing

On March 6th, the US will release February non-farm payrolls data. The market expects a significant slowdown in job additions to 60,000, with some forecasts even suggesting potential negative growth due to the impact of severe winter weather. The unemployment rate is anticipated to hold steady at 4.3%. This follows January's stronger-than-expected addition of 130,000 jobs, although the authenticity and sustainability of those figures have been questioned by the market. The US February ADP employment data will also be released on March 4th. On March 5th, the Federal Reserve will release its Beige Book on economic conditions, providing important reference material for the Fed's March policy meeting. Additionally, the US February ISM Manufacturing Index will be published on March 2nd, and US January retail sales data will be released on March 6th.

China's Official February Manufacturing PMI, Foreign Exchange Reserves

China's official Manufacturing Purchasing Managers' Index for February will be released on March 4th. In January, some manufacturing sectors entered their traditional off-season, leading to a decline in the official PMI to 49.3%. On Saturday, March 7th, China's foreign exchange reserves data for February will be announced. Previously, China's foreign reserves at the end of January increased by 1.23% month-on-month, while gold reserves saw their 15th consecutive monthly increase.

Financial Events

China's "Two Sessions" Convene

The fourth session of the 14th National People's Congress and the fourth session of the 14th National Committee of the Chinese People's Political Consultative Conference will open in Beijing on March 5th and March 4th, respectively. Analyses from brokerages like CITIC Securities indicate that the market is highly focused on the government work report's stance regarding economic growth targets, fiscal and monetary policies, as well as clues related to the "15th Five-Year Plan."

Close Monitoring of Iran Situation; Following Attack on Supreme Leader

Reports indicate that Iran's Supreme Leader Ali Khamenei died following an attack on the morning of February 28th. The Islamic Revolutionary Guard Corps of Iran stated that the Iranian armed forces are preparing to launch their "most fierce offensive operations," targeting Israeli and US bases. Over the past weekend, reports suggested that the US and Israel launched a joint military strike against Iran on February 28th, leading to a sharp escalation of regional tensions.

MWC Barcelona 2026 Kicks Off March 2-5

The 2026 Mobile World Congress in Barcelona is set to begin. Under the theme "The IQ Era," this year's event breaks the boundaries of traditional communication exhibitions, becoming a global platform integrating artificial intelligence, communication technologies, robotics, 6G prospects, and more. Smartphones remain a core focus, with Chinese manufacturers like vivo, Xiaomi, Honor, and Red Magic accelerating their global expansion with major new products. International brands like Samsung are also responding with robust technological upgrades. Meanwhile, cutting-edge explorations in areas like humanoid robots and the deep integration of AI and communications make this event a significant indicator for the future of the tech industry.

Alibaba's Qianwen to Launch First AI Glasses

It has been learned that Alibaba's personal AI assistant "Qianwen" will launch multiple forms of AI hardware products for the global market this year. Qianwen will debut its first AI glasses under the same name at the 2026 Mobile World Congress in Barcelona, Spain, with online and offline pre-orders starting on March 2nd. According to internal sources, besides AI glasses, Qianwen will also release an AI ring, AI earphones, and other products within the year for the global market.

Apple Event Scheduled for March 4th, Mac Series Update Expected

Apple has announced it will hold a new product launch event on March 4th. The company is preparing to announce several new devices in the coming weeks. The iPhone maker has invited media to gatherings in New York, Shanghai, and London, describing it as an in-person "Experience" event. This invitation suggests a potentially more low-key presentation compared to typical launches at its Cupertino headquarters. Apple has been planning to release multiple new products in the first half of 2026, including: a new MacBook Pro (expected with M5 Pro/Max chips), a new MacBook Air (with M5 chip), a lower-priced MacBook available in multiple colors (rumored to be priced around $699), and new iPad models (including a 12th-generation iPad and an iPad Air with M4 chip). Additionally, Apple plans to release the iPhone 17e soon, an update targeting the mid-range smartphone market.

Harmony Intelligent Drive Tech Update Event, 2026 XPeng X9 Pure Electric Version Launch

The Harmony Intelligent Drive technology update launch event will be held at 14:00 on March 4th. Furthermore, the 2026 XPeng X9 pure electric version, touted as the world's longest pure electric large seven-seater, will launch on March 2nd.

German Chancellor Merz to Meet Trump in US

Reports indicate that German Chancellor Friedrich Merz will seek clarification from the US on its tariff policy towards EU goods during a meeting with US President Donald Trump in Washington on March 3rd.

Speeches by Fed Officials: Harker on Dollar's Safe-Haven Status, Williams

On March 3rd, FOMC permanent voter and New York Fed President John Williams will deliver a speech. On March 7th, 2026 FOMC voter and Cleveland Fed President Patrick Harker will speak about the US dollar's safe-haven status.

IMF "Asia 2050" Conference, OECD 2026 Spring Financial Markets Week

The International Monetary Fund's "Asia 2050" conference begins in Bangkok, running from March 4th to March 6th, discussing the region's economic future. Additionally, the OECD 2026 Spring Financial Markets Week continues until March 6th.

NASA's Planned Manned Lunar Mission for March Postponed Again

NASA Administrator Jared Isaacman stated that due to technical issues, the "Artemis II" circumlunar mission will undergo rocket rollback, canceling the planned March launch. Previously, NASA officials had targeted a March 6th launch for the Artemis II crewed lunar flyby mission, following multiple prior delays.

UK OBR to Release Spring Forecast

A UK government statement shows that Chancellor Rachel Reeves has requested the Office for Budget Responsibility to prepare an economic and fiscal forecast report, scheduled for release on March 3rd, 2026. The Chancellor will deliver a budget update speech in Parliament.

Earnings: MiniMax, Bilibili, JD.com, Broadcom, Credo

A wave of significant earnings reports is approaching. On March 2nd, MiniMax will present its first financial results since its Hong Kong IPO, holding an earnings call the same day. On March 5th, JD.com, Bilibili, and chip giant Broadcom will release their financial reports and hold conference calls. Additionally, "optical interconnect giant" Credo, Marvell Technology, Dingdong Maicai, Yixin Group, Full Truck Alliance, and others will also announce their earnings.

Broadcom Earnings Call

Broadcom will report its financial results for the first quarter of fiscal year 2026 after the US market closes on Wednesday, March 4th. A conference call will follow at 2:00 PM Pacific Time on March 4th, which is 6:00 AM Beijing Time on March 5th.

Bilibili Earnings Call

Bilibili plans to report its earnings before the US market opens on March 5th, 2026, and will hold a conference call. The call is scheduled for 7:00 AM US Eastern Time on March 5th, which corresponds to 8:00 PM Beijing Time on March 5th, 2026.

JD.com Earnings Call

The conference call for JD.com's fourth quarter and full-year 2025 results is scheduled for 8:00 PM HKT on 03/05/2026, corresponding to 8:00 PM Beijing Time on March 5th, 2026.

MiniMax Earnings Call

MiniMax will announce its full-year 2025 financial results on March 2nd, 2026. The company's management will host an earnings conference call at 8:00 PM Beijing Time (7:00 AM US Eastern Time) on Monday, March 2nd, 2026.

Credo Technology Earnings Call

AI connectivity chip maker Credo has issued a strong earnings preview, expecting Q3 FY2026 revenue between $404 million and $408 million, significantly surpassing market expectations of $341 million. The company also raised its full-year outlook, anticipating year-over-year revenue growth to exceed 200%. This sustained performance surge is driven by soaring demand for its AEC and optical connectivity products from AI data centers. The company will release its full financial report after the US market closes on Monday, March 2nd, 2026. More detailed financial data will be disclosed during the earnings conference call scheduled for 2:00 PM Pacific Time that day (6:00 AM Beijing Time on March 3rd).