China's light industry saw a strong rebound in the first four months, with operating income reaching nearly 7 trillion yuan. Meanwhile, the International Sugar Organization raised its forecast for the global sugar supply shortage in 2023/2024 to 2.954 million tons, highlighting ongoing supply concerns.

Chongqing held a signing event for foreign investment in state-owned enterprise reform, attracting over $1 billion in projects. CNOOC announced a significant gas discovery in the South China Sea. The European Central Bank cut interest rates for the first time in five years, and the U.S. trade deficit widened in April.

The Bank of Canada cut interest rates for the first time in four years, signaling potential further cuts. Meanwhile, the U.S. service sector saw its largest increase in business activity in three years, contrasting with a slowdown in private sector employment growth. Spain's crude oil imports also reached a six-year high in April.

China's central and local governments have allocated nearly 12 billion yuan in trade-in subsidies, with independent new energy vehicle manufacturers expected to benefit the most. Additionally, international news highlights increased U.S. manufacturing orders, rising crude palm oil prices, and a new Russian oil transshipment site in the Mediterranean.

China's Customs Tariff Commission announced the suspension of ECFA tariff concessions for 134 tariff items from Taiwan, effective June 15. Meanwhile, the Eurozone's preliminary CPI for May accelerated to 2.6% year-on-year, exceeding market expectations of 2.5%. This may prompt the ECB to reconsider the pace of future rate cuts.

On May 30, China successfully launched a Pakistani multi-task communication satellite, marking a significant achievement in international space cooperation. Meanwhile, copper prices fell 3.3% to $10,125 a tonne, highlighting the market's vulnerability to sudden price surges.

China has canceled the lower limit of mortgage interest rates in over 20 provinces, reaching historical lows. The State Council is promoting the revision of the Energy Conservation Law and accelerating the formulation of mandatory energy-saving standards. Additionally, the petrochemical industry faces strict policy requirements, and restrictions on new energy vehicle purchases are gradually being lifted.

India is expected to receive above-average monsoon rainfall, crucial for agricultural production and economic growth. The monsoon provides nearly 70% of the rainwater needed for irrigation, and abundant rainfall will help reduce food price inflation. Meanwhile, European stocks maintained stability, and the market is preparing for the European Central Bank's interest rate cut in June. The Bank of Israel kept interest rates unchanged, and OPEC forecasts strong global oil demand growth in the next two years.

China's auto imports dropped by 8% to 210,000 units from January to April 2024, reflecting changes in market demand. Meanwhile, China's longest cross-city subway, spanning 5 cities in Guangdong, debuted today, enhancing regional connectivity.

China's foreign non-financial direct investment increased by 18.7% year-on-year to 343.47 billion yuan from January to April. Meanwhile, the price of memory chips has risen by 50% compared to the same period last year, with further increases expected.

Key domestic news includes Heilongjiang exceeding 10 billion kWh of new energy power transmission, Shanghai Port maintaining global top rank in container throughput, and COSCO SHIPPING signing a strategic agreement with Xiamen. Internationally, the US announced new tariffs on Chinese goods, including electric vehicles, and oil prices fell due to weak market conditions and declining interest rate cut hopes.

The National Development and Reform Commission reports that industrial enterprise profits have increased for three consecutive quarters, supporting expanded reproduction. Xinjiang accelerates the construction of clean energy bases, including wind power and photovoltaic projects, aiming to build a new power system and achieve coordinated development of photovoltaic 'blue', desert 'yellow', and ecological 'green'.

In the first quarter of 2024, China's shipbuilding industry saw significant growth in completions, new orders, and hand-held orders. The Shanghai Futures Exchange held a symposium to discuss the high-quality development of steel futures, focusing on improving risk management, delivery mechanisms, and hedging systems.

The International Energy Agency (IEA) warns of potential shortages of critical minerals crucial for green energy, while Beijing implements a reduction in provident fund loan interest rates. Other domestic news includes stable coal prices and the launch of advanced hydrogen production equipment.

On May 17, multiple ministries and commissions in China set up a joint working group to prepare for major measures in the real estate industry, aiming to stabilize the market. The People's Bank of China also accelerated the planning and construction of digital central banks, enhancing cybersecurity and data security.