China's new home sales in 50 cities have shown a narrowing year-on-year decline for five consecutive months, indicating market stabilization. Meanwhile, the US Producer Price Index (PPI) rose less than expected in July, highlighting easing inflationary pressures.

The MSCI China Flagship Index includes Huaneng Hydropower while excluding 60 stocks. Gold prices hit a near-record high, driven by safe-haven demand. OPEC+ output exceeded targets in July, with Russia and other countries surpassing their quotas.

The bond market continues to release strong regulatory signals, leading to a decline in bond prices and rising yields. Many car companies have reduced preferential margins and production to stabilize the price system. The Chinese government is accelerating the coordination of digital and green transformation and strengthening the clean and efficient utilization of fossil energy.

In July 2024, new energy vehicle sales in China surpassed those of conventional fuel vehicles for the first time, marking a significant shift in the automotive market. Meanwhile, the probability of a 50 basis point rate cut by the Federal Reserve in September reached 56.5%, reflecting growing economic uncertainties.

China's economy is at a critical juncture for integrating ESG concepts, according to KPMG. Meanwhile, Taobao confirms a real rocket launch event for 88VIP members, and JPMorgan raises the probability of a U.S. recession to 35% by year-end.

At the beginning of August, China's market liquidity remained reasonable and abundant, with the central bank receiving more than one trillion yuan in four trading days. The US trade deficit narrowed in June as exports rebounded, and oil prices recovered after a global market sell-off.

China's domestic consumption is being boosted through coordinated supply and demand efforts, increased consumer credit support, and the issuance of consumption vouchers. Meanwhile, international crude prices and the exchange rate of RMB to USD show fluctuations. The Bank of Japan raised interest rates, leading to yen appreciation and impacting stock index futures. The US 2-year and 10-year treasury yields have ended their inverted situation, and Libya's largest oil field has completely stopped production due to political issues.

In the first half of 2024, Guangxi's imports and exports to ASEAN reached a record high of 185.62 billion yuan, up 26.7% year-on-year. Meanwhile, the decline in housing prices and increase in disposable income have eased the pressure on residents to buy homes in China.

China introduces a long-term mechanism for basic medical insurance participation, offering incentives for continuous insurance and zero reimbursement. The UK cuts its benchmark interest rate by 25 basis points to 5%, and US labor productivity rebounds, reducing inflation risks.

China's State Council has issued a five-year action plan to facilitate rural migration to cities, improve public services, and accelerate new industrialization. In the first half of the year, investment in key energy projects exceeded 1.2 trillion yuan, with a 17.7% year-on-year increase. Internationally, investors bet on UK interest rate cuts, and the US and Europe mediate to prevent a Middle East conflict.

China has lifted its largest fully ground-sitting LNG storage tank, marking a significant breakthrough in independent design and construction capabilities. Economic policies are shifting towards boosting consumption and expanding domestic demand, with a focus on improving the business environment and reducing logistics costs.

China's Ministry of Finance strengthens reform coordination, studies tax systems for new business formats, and promotes financial opening-up. Major state-owned and joint-stock banks complete the first round of RMB deposit interest rate cuts this year. The Fed is likely to keep interest rates unchanged this week, and Saudi Aramco's crude oil export prices to Europe are expected to remain stable in September.

In the first half of 2024, industrial enterprises above designated size in China saw a 3.5% increase in profits to 3,511.03 billion yuan. Beijing's second-hand housing market is booming, with July transactions expected to exceed 15,000 units. Datong is emerging as a major data center hub, with over 3.5 million servers planned.

China's Central Bank unexpectedly launched a 200 billion yuan MLF operation, reducing the interest rate by 20 basis points. The RMB sharply rose against the US dollar, approaching the 7.2 mark, before falling back. Additionally, the National Development and Reform Commission and the Ministry of Finance allocated 300 billion yuan for equipment renewal and consumer goods trade-in.

A new batch of central enterprise thematic index ETFs has been approved, including technology innovation, dividend, and ESG ETFs. Additionally, 9 steel companies plan to reduce production by over 900,000 tons to comply with new national standards for reinforced concrete steel.