Economic Indicators - The Huachuang Macro WEI index rose to 7.08% as of July 6, 2025, up from 6.00% on June 29, marking an increase of 1.08%[2] - Domestic flight executions increased to 14,400 flights in the first five days of July, a year-on-year increase of 3%[8] - The operating rate of asphalt plants rose to 32.7% as of July 9, 2025, a year-on-year increase of 4.7%[15] Consumer Trends - Retail sales of passenger cars showed a year-on-year increase of 1% as of July 6, down from 3% previously, and June's total was 15%[8] - The sales area of commercial residential properties in 67 cities decreased by 24% year-on-year in the first 11 days of July, compared to a 17.6% decline in June[3] - The land premium rate fell to 4.88% as of July 6, down from 5.47% in June[9] Price Movements - Resource prices continued to rise, with Shanxi thermal coal prices increasing by 1.4%, and rebar prices in Shanghai rising by 1.9%[46] - The national average price of second-hand homes fell by 0.3% as of June 30, with first-tier cities down by 0.2%[47] - The overall price index for agricultural products rose, with vegetable prices increasing by 1.8% and fruit prices by 2.1%[46] Debt and Interest Rates - New special bond issuance accelerated, with 2.39 trillion yuan issued this year, achieving 54.3% of the annual target, compared to 39.3% last year[54] - As of July 11, 2025, the yields on 1-year, 5-year, and 10-year government bonds were 1.3702%, 1.5292%, and 1.6653%, respectively, reflecting increases of 3.4bps, 3.63bps, and 2.2bps from the previous week[67]
每周经济观察第28期：WEI指数上行至7%左右-20250714
Huachuang Securities·2025-07-14 10:15