棉花市场：新棉供应偏紧，策略逢回调低多

Group 1 - The People's Bank of China emphasizes the importance of promoting a reasonable recovery in prices as a key consideration for monetary policy, aiming to maintain prices at a reasonable level [1] - A new policy financial tool worth 500 billion yuan will be introduced, focusing on emerging industries and infrastructure, with participation from policy banks [1] - Domestic cotton inventory is decreasing faster than the same period last year, leading to increased tension by the end of September [1] Group 2 - The cotton market is experiencing tight supply before the new cotton harvest, with a possibility of rush harvesting in some areas, providing short-term support to the market [1] - The demand for cotton is expected to be observed as the "Golden September and Silver October" stocking season begins, with a recommendation to buy on dips [1] - The textile and apparel export data for July shows pressure, with markets in ASEAN, EU, and the US weakening both year-on-year and month-on-month [1]