每日市场观察

Economic Overview - The GDP for the first half of the year reached 61,683.6 billion yuan, with a year-on-year growth of 5.0% [1] - The primary industry added value was 3,066 billion yuan, growing by 3.5%; the secondary industry added value was 23,653 billion yuan, increasing by 5.8%; and the tertiary industry added value was 34,964.6 billion yuan, rising by 4.6% [1] - In the first quarter, GDP grew by 5.3%, while in the second quarter, it grew by 4.7% [1] Green Energy Sector - The new energy vehicle production increased by 34.3% year-on-year, with supporting products like charging piles and lithium-ion batteries for vehicles growing by 25.4% and 16.5%, respectively [2] - The photovoltaic industry showed strong growth, with the production of polysilicon, monocrystalline silicon, and ultra-white glass for solar applications increasing by 55.4%, 43.6%, and 42.8%, respectively [2] - The share of non-fossil energy consumption in total energy consumption rose by 1.9 percentage points year-on-year [2] Market Dynamics - On July 15, the market showed mixed results, with the banking sector maintaining strength and some stocks reaching historical highs [3][4] - The market experienced a contraction in trading volume, with total turnover around 600 billion yuan [3] - The main inflows of capital were seen in state-owned banks, industrial metals, and semiconductors, while outflows were noted in passenger vehicles, consumer electronics, and IT services [6] Real Estate Market - The real estate market has seen an increase in activity, with new policies being implemented to support housing demand [17] - The sales area and sales volume of new commercial housing decreased by 19.0% and 25.0% year-on-year, but the decline has narrowed compared to earlier months [17] - The construction of affordable housing and public infrastructure projects is progressing, contributing to a new model for real estate market development [17][18] Steel Industry - In early July, key steel enterprises produced 21.5172 million tons of crude steel, with a daily production of 2.1517 million tons, reflecting a year-on-year decrease of 3.96% [19] - The production of pig iron and steel also showed similar trends, with daily production figures indicating slight declines compared to previous periods [19] Fund Market Trends - Recent volatility in the U.S. and Japanese markets has led to a decrease in enthusiasm for cross-border ETFs in China, with premium rates for some ETFs significantly reducing [20] - The bond market has seen a cooling trend, with fund managers adopting a cautious approach amid declining yields [21] Investment Insights - The growth sectors are expected to outperform in the short term, driven by policy changes and market dynamics, while dividend sectors remain attractive for long-term investment [22]