制造业PMI连续回升：申万期货早间评论-20250701

Core Viewpoint - The article highlights the recovery in China's manufacturing and non-manufacturing sectors as indicated by the PMI data, along with significant developments in the foreign exchange management and the solar glass industry [1][5]. Economic Indicators - In June, China's manufacturing PMI was 49.7%, non-manufacturing PMI was 50.5%, and composite PMI was 50.7%, all showing an increase of 0.2, 0.2, and 0.3 percentage points respectively compared to the previous month [1][5]. - The equipment manufacturing, high-tech manufacturing, and consumer goods sectors have maintained PMIs in the expansion zone for two consecutive months [1]. Foreign Exchange Management - The State Administration of Foreign Exchange has issued a total investment quota of $3.08 billion to qualified domestic institutional investors (QDII) to support their cross-border investment activities [1]. Oil Price Adjustments - A new round of adjustments to domestic refined oil retail prices is expected, with an estimated increase of approximately 230 yuan per ton for gasoline and diesel [1]. Solar Glass Industry - Major domestic solar glass companies plan to collectively reduce production by 30% starting in July to alleviate "involution-style" competition, which is expected to lead to a rapid decline in domestic solar glass supply and improve the supply-demand imbalance [1].