中观跟踪报告（2024年第10期）

Economic Overview - China's manufacturing PMI for October is at 50.1%, an increase of 0.3% from the previous month[1] - The services PMI for October is also at 50.1%, rising by 0.2% from the previous month[1] Market Pricing - The top five industries with high credit spreads are leisure services, chemicals, non-ferrous metals, electronics, and machinery[1] Sector Insights - In agriculture, vegetable and pork prices slightly decreased in the first week of November[1] - In mining, coke prices fell in the first week of November, with inventory at historically high levels[1] - Diesel prices continue to rise domestically, while gasoline prices are down; international oil prices remain volatile[1] - In manufacturing, non-ferrous metal prices collectively increased in November, and methanol inventory is at a high level[1] - Cement prices have been rising continuously from October to November in the construction sector[1] - In real estate, sales in Shanghai, Xiamen, and Xi'an have increased, while Shanghai's housing prices have slightly decreased compared to the previous week[1] - In the renewable energy sector, photovoltaic module prices remain stable at the lowest levels of the year[1] Risk Factors - Economic policies may exceed expectations, and global geopolitical conflicts pose risks[1]