每日大市点评政策更新：央行连续12日逆回购20亿中国将3家美国企业列入不可靠实体列表，发改委：采取更多举措扩大新能源车产业发展

Macroeconomic Insights - China's fiscal revenue for the first four months of 2024 decreased by 2.7% year-on-year, totaling 8.09 trillion RMB[34] - Tax revenue fell by 4.9% to 6.69 trillion RMB, while non-tax revenue increased by 9.4% to 1.4 trillion RMB[34] Real Estate Sector - The People's Bank of China indicates that future mortgage rates are expected to decline significantly, driven by a strong desire among local governments to remove mortgage rate floors[5] - The real estate market is showing signs of recovery, but the sustainability of this trend remains uncertain[3] Market Performance - The Hang Seng Index rose by 3.1% over the week, closing at 19,636 points, with a daily trading volume of 156.5 billion HKD[9] - The market is experiencing a rotation of funds from heavyweight stocks to smaller sectors, supported by positive sentiment and policy measures[3] Investment Strategy - Focus on sectors benefiting from foreign capital inflows, such as technology (gaming, consumer electronics) and biomedicine[3] - High-dividend sectors like oil, coal, telecommunications, and electricity are also recommended for investment[3] Currency and Monetary Policy - The offshore RMB has shown slight appreciation, fluctuating around 7.22, influenced by real estate policy stimuli[3] - The central bank has conducted 20 billion RMB reverse repos for 12 consecutive days to maintain liquidity in the banking system[11]