东兴证券晨报-20250623

Key Points - The report highlights a significant increase in stamp duty from securities transactions, reaching 66.8 billion yuan from January to May, a year-on-year growth of 52.4% [2] - The People's Bank of China has launched a cross-border payment system to facilitate efficient remittance services between mainland China and Hong Kong, involving major banks from both regions [2][5] - The National Development and Reform Commission has introduced over 3,200 private investment projects, with a total investment exceeding 3 trillion yuan, focusing on key sectors such as transportation, energy, and infrastructure [2] - The report notes a decline in the inventory of coking coal at steel mills and independent coking plants, indicating a potential increase in production of coke, pig iron, and crude steel [13][15] - In May, the production of coke reached 42.376 million tons, showing a month-on-month increase of 1.87% and a year-on-year increase of 3.45% [16] - The report indicates a downward trend in the prices of coking coal, with the comprehensive price index for Chinese coking coal reported at 1,168.88 yuan per ton, a decrease of 6.76% from the previous month [13][16]