[Next Week's Highlights] CPI and PPI data to be released, retail fuel prices to face another adjustment window

Does AI · PPI normalization mainly depend on the surge in crude oil prices?

Next week, refined oil will once again enter a price adjustment window; the National Bureau of Statistics will release March CPI and PPI data; multiple IT-related conferences will be held next week, including the 14th China International Exhibition of Electronic Information, and the 3rd AI Computing Power Industry Conference and Exhibition, among others. In addition, five new stocks will be issued next week.

Refined Oil to Enter a Price Adjustment Window

According to the “ten working days” principle, the current price adjustment window runs until 24:00 on April 7. Based on calculations by Jinjianchuang, as of the ninth working day on April 3, the reference average of crude oil varieties was $104.73 per barrel, with a change rate of 2.59%. This corresponds to an increase of 225 yuan per ton in domestic gasoline and diesel retail prices.

Industry analysts believe that supply along the crucial Hormuz Strait—an important crude oil shipping route—has been cut off. Trump has signaled that he may escalate actions against Iran in the coming weeks, breaking the market’s expectations that conflicts will ease and that maritime passage through the strait will resume. Concerns about a global crude oil supply contraction have intensified sharply, driving oil prices higher. JPMorgan stated that in the short term, oil prices could rise to between $120 and $130 per barrel, and said that if the Hormuz Strait remains closed until mid-May, oil prices could rise to above $150 per barrel.

Earlier, in order to mitigate the impact of abnormal spikes in international oil prices, reduce the burden on downstream users, ensure stable economic operations, and safeguard people’s livelihoods, while maintaining the current price mechanism framework, the National Development and Reform Commission implemented temporary control measures on domestic refined oil prices. On March 23, domestic gasoline and diesel for standard grade ( should have been increased by 2205 yuan and 2120 yuan per ton, respectively; after the control, the actual increase was 1160 yuan and 1115 yuan.

March CPI and PPI Data to Be Released

On April 10, the National Bureau of Statistics will release March CPI and PPI data.

Guosheng Securities analysts believe that in March the raw materials purchase price index rebounded by 9.1 percentage points, and the factory-gate price index rebounded by 4.8 percentage points, pointing to a clear rebound in the overall price level in the manufacturing market. Among them, both price indices for industries such as petroleum, coal, and other fuel processing, and chemical raw materials and chemical products were above 70%. With a sharp surge in raw material prices such as oil and chemicals, together with higher logistics freight rates, it is expected that March PPI may turn positive from negative.

Yuekai Securities also believes that in March, PPI year-on-year may turn positive ahead of schedule, rising from -0.9% in February to around 0.2%. Affected by the US-Iran conflict, Brent crude spot prices jumped from $71.1 per barrel at the end of February to $127.5 per barrel at the end of March. The monthly average rose from $71.4 per barrel to $104.1 per barrel, with month-on-month and year-on-year growth of 45.8% and 43.2%, respectively. The rise in oil prices transmits to the PPI through multiple channels—for example, prices of petrochemical products increased significantly. The year-on-year rates of 95-octane gasoline and polypropylene rose from -11.5% and -10%, respectively, in late February to 15.7% and 17% in mid-March. In March, the manufacturing PMI factory-gate price index was 55.4%, up sharply by 4.8 percentage points from February. Based on this, it is estimated that March PPI will increase 0.7% month-on-month and about 0.2% year-on-year.

Multiple IT Conferences to Be Held Next Week

The 14th China Electronic Information Expo ) CITE2026 ( will be held in Shenzhen from April 9 to 11. This expo will be themed “New Technologies, New Products, New Scenarios.” More than 1,200 leading companies and innovative teams from around the world will participate, and it is expected to attract more than 70,000 professional visitors. At the same time, more than 30 forums will be held to present a complete ecosystem map of the electronic information industry—from foundational technologies to terminal applications.

The 2026 third AI Computing Power Industry Conference and Exhibition will be held in Shenzhen from April 9 to 11. This conference focuses on end-to-end development of the AI computing power industry, bringing together major enterprises, research institutions, and industry elites worldwide. It will cover in-depth exchanges around topics such as computing power infrastructure, AI training and inference, the construction of intelligent computing centers, and breakthroughs in domestic computing power. It will build a one-stop platform for technology showcases, supply-demand matching, and ecosystem co-building, injecting strong momentum into high-quality development of the AI industry.

The 2026 14th Shenzhen International Semiconductor Industry and Application Exhibition will be held in Shenzhen from April 9 to 11, 2026. The expo is expected to feature a total exhibition area of 70,000 square meters, with more than 1,200 exhibitors, and it is expected that the number of visitors will exceed 100,000.

Five New Stocks to Be Issued Next Week

Wind data shows that five new stocks will be issued next week, including 1 on the Shanghai Main Board, 1 on the Shenzhen Main Board, 1 on the ChiNext, 1 on the Beijing Stock Exchange, and 1 on the STAR Market. The total issuance will be about 397 million shares, and the expected total fund-raising will be 9.126 billion yuan. Specifically, on April 7, Hengdao Technology and Etek will be issued; on April 8, Shangshui Intelligent; on April 9, Shenghe Jingwei; and on April 10, Fuen shares will be issued.

Hengdao Technology is a high-tech enterprise focusing on R&D, design, production, and sales of hot runner system components for injection molding molds and related components. Its products are widely used in automotive headlamps, automotive interior and exterior trim, 3C consumer electronics, and other fields.

Etek is an industry-leading provider of intelligent solutions for automotive electronics. Its products cover four major core functional domains: the vehicle body domain, the intelligent cockpit domain, the power domain, and the intelligent driving domain.

Shangshui Intelligent’s principal business centers on core process links such as micro- and nano-powder processing, precise powder-and-liquid metering, powder-and-liquid mixing and dispersion, and functional film preparation. Its products can be widely used in industries such as new energy batteries, new materials, chemicals, food, pharmaceuticals, and semiconductors.

Shenghe Jingwei is a globally leading integrated circuit wafer-level advanced packaging enterprise. It started from processing advanced 12-inch middle-stage silicon wafers and further provides full-process advanced packaging and testing services such as wafer-level packaging ) WLP( and advanced packaging integration of multi-chip modules.

Fuen shares is a global eco-environmental fabric supplier with sustainable development as its core. It has become a large enterprise integrating fabric design, R&D, spinning, weaving, dyeing, finishing, and sales. Reporter Chen Hui