五一假期大事与大类资产梳理-20250503

Group 1: Domestic Policy Developments - The focus of domestic policy includes the celebration of the 100th anniversary of the All-China Federation of Trade Unions and the meeting on the "14th Five-Year Plan" economic and social development [2][23] - Xi Jinping emphasized the importance of young people in advancing artificial intelligence and national development during his visit to Shanghai [9][10] - The National People's Congress passed the Private Economy Promotion Law, effective from May 20, 2025, to support the sustainable and high-quality development of the private economy [16][23] Group 2: Economic Indicators and Market Analysis - The A-share market saw a decline in major indices, with the Shanghai Composite Index and CSI 300 dropping by 0.48% and 0.43% respectively, influenced by tariff effects on the real economy [3][24] - The first quarter of 2023 marked a 0.3% contraction in the US GDP, the first decline since Q1 2022, with personal consumption growth slowing to 1.8% [2][21][23] - The manufacturing PMI for April fell to 49.0%, indicating a contraction, with new orders and export orders also declining, reflecting the impact of tariff measures [47][52] Group 3: Financial Market Developments - The central bank injected a total of 735.8 billion yuan into the market before the holiday, with the DR007 rate rising to nearly 1.8% [3][46] - The Shenzhen Stock Exchange revised the ChiNext index compilation scheme to enhance investment viability, effective from June 16, 2025 [28] - The central bank conducted a 1.2 trillion yuan reverse repurchase operation in April, indicating ongoing liquidity management [48][50] Group 4: Commodity Market Trends - The commodity market showed mixed trends, with non-ferrous metals experiencing slight increases, while crude oil prices fell [3][4] - The agricultural sector, particularly pork, remained under weak fluctuations, reflecting broader market conditions [3][4] Group 5: Foreign Policy and International Relations - The US and Ukraine signed a mineral agreement to establish a reconstruction investment fund aimed at attracting global investment into Ukraine [21][22] - The agreement emphasizes equal partnership and does not impose debt obligations on Ukraine, reflecting a strategic shift in US support [22]