Sou Hu Cai Jing·2025-07-01 03:31Group 1 - The U.S. non-farm employment report for June is a key focus for the market, with attention on job vacancies, wage data, and manufacturing and service activity [2] - Market optimism is growing regarding a potential interest rate cut by the Federal Reserve, with the probability of a cut at the end of July rising to 18.6% from 14.5% the previous week, and a significant increase to 93% for a cut by the end of September [2] - Federal Reserve Chairman Jerome Powell remains cautious about rate cuts, stating that the Fed is in a favorable position to wait and is not in a hurry to adjust rates [2] Group 2 - CIFI Holdings Group announced that its offshore debt restructuring plan was approved by the court, effective June 27, 2025 [7] - Hongyang Real Estate extended the deadline for its restructuring support agreement fees to July 11 and July 25, 2025, due to creditors needing more time [7] - Kaisa Group announced that the final deadline for its restructuring support agreement has been extended to September 30, 2025, with other terms remaining unchanged [7] - Shimao Group expects its offshore debt restructuring plan, approved by the Hong Kong High Court, to be completed by August 29, 2025, relieving approximately $11.5 billion in existing offshore debt [7] - New World Development successfully refinanced part of its existing offshore unsecured financial debt, covering approximately HKD 88.2 billion [7] Group 3 - In June, China's manufacturing PMI was at 49.7%, non-manufacturing PMI at 50.5%, and the composite PMI output index at 50.7%, indicating a general expansion in economic activity [13] - The People's Bank of China conducted a 7-day reverse repo operation of CNY 331.5 billion at a rate of 1.40%, with a net injection of CNY 111 billion for the day [13]