Goldman Sachs(US:GS) Zhi Tong Cai Jing·2025-09-03 13:20Group 1 - The official Purchasing Managers' Index (PMI) shows slight improvement, with the manufacturing PMI rising from 49.3 in July to 49.4 in August, and the non-manufacturing PMI increasing from 50.1 to 50.3, indicating a trend of price index improvement related to industry efforts to reduce excessive discounting [1][3] - The People's Bank of China (PBOC) has adjusted the daily midpoint exchange rate of the USDCNY to 7.1030, marking a new low for the year, signaling a proactive move to strengthen the RMB against the USD, with expectations of the exchange rate falling to 7.0 by year-end and below 7.0 next year [3][4] - The Chinese government's "Artificial Intelligence Action Plan" aims to accelerate AI application in the economy, with targets for AI application rates in key sectors set at 70% by 2027, 90% by 2030, and 100% by 2035, emphasizing industrial over consumer applications [4]