新华财经晚报：交易商协会规范债市发行承销 不得以“返费”等扭曲市场价格

Regulatory Developments - The National Medical Products Administration plans to complete the review and approval of clinical trial applications for innovative drugs that meet requirements within 30 working days, aiming to support clinical value-oriented drug development and enhance the efficiency of clinical research [1] - The China Securities Association issued a notice to regulate the bond market, prohibiting practices such as "rebates" that distort market prices and ensuring that underwriting institutions do not offer rates below cost [2] Economic Indicators - In May, the total retail sales of consumer goods reached 41,326 billion yuan, growing by 6.4% year-on-year, which is an acceleration of 1.3 percentage points compared to the previous month [3] - Fixed asset investment (excluding rural households) from January to May was 191,947 billion yuan, with a year-on-year increase of 3.7%, and investment excluding real estate development grew by 7.7% [3] - In May, the total import and export value was 38,098 billion yuan, with exports at 22,767 billion yuan (up 6.3%) and imports at 15,331 billion yuan (down 2.1%) [3] Real Estate Market - In May, new residential sales prices in first-tier cities decreased by 0.2% month-on-month, with Shanghai increasing by 0.7% while Beijing, Guangzhou, and Shenzhen saw declines of 0.4%, 0.8%, and 0.4% respectively [3] - Second-tier cities also experienced a 0.2% month-on-month decline in new residential sales prices, while third-tier cities saw a 0.3% decrease, widening the decline by 0.1 percentage points compared to the previous month [3] Industrial Performance - In May, the industrial power generation reached 7,378 billion kWh, with a year-on-year growth of 0.5%, slowing down by 0.4 percentage points compared to April [3] - From January to May, the total industrial power generation was 37,266 billion kWh, with a year-on-year increase of 0.3%, and the average daily generation grew by 1.0% year-on-year after adjusting for the number of days [3] Automotive Industry - The China Securities Association held a meeting to support the high-quality development of the automotive industry, addressing challenges faced by companies under intense competition and proposing to optimize the financing environment for automotive enterprises [2]