每日市场观察-20250722

Market Overview - On July 21, the market closed higher with the Shanghai Composite Index rising by 0.72%, the Shenzhen Component Index increasing by 0.86%, and the ChiNext Index up by 0.87%[2] - The total trading volume reached 1.73 trillion CNY, an increase of approximately 140 billion CNY compared to the previous trading day[1] Sector Performance - Key sectors such as construction materials, building, steel, non-ferrous metals, and chemicals showed significant gains, while banking, computing, and home appliances experienced slight declines[1] - The net inflow of funds into the Shanghai market was 317.96 billion CNY, and 126.16 billion CNY into the Shenzhen market on July 21[3] Investment Opportunities - The launch of the Yarlung Tsangpo River downstream hydropower project is expected to catalyze growth in cyclical sectors, with notable inflows into construction, building materials, non-ferrous metals, chemicals, and power equipment[1] - The first half of 2025 saw a 10.4% year-on-year increase in the total import and export value of China's western region, reaching 2.12 trillion CNY, marking a historical high for the same period[6] Financial Indicators - The Loan Prime Rate (LPR) for both 5-year and 1-year terms remained unchanged at 3.5% and 3% respectively in July[7] - Publicly offered Fund of Funds (FOF) reported an average return of 4.24% year-to-date, with pension FOFs achieving an average return of 4.33%[13][14] Industry Dynamics - China's express delivery volume has ranked first globally for 11 consecutive years, with over 500 million packages collected daily[8] - The online dining sector's share of total dining revenue increased by 1.9 percentage points in the first half of 2025, reflecting a growing trend towards digital services[9]