Group 1: Policy Initiatives - The State Council has approved the implementation of the "Artificial Intelligence+" initiative, aiming to promote the large-scale commercial application of AI across various sectors, fostering a virtuous cycle of innovation and application [8] - The National Childcare Subsidy Scheme was announced, providing annual subsidies of 3,600 yuan per child for infants under three years old, starting from January 1, 2025 [6][7] - The central government plans to allocate approximately 90 billion yuan for the Childcare Subsidy Scheme, marking a significant step in direct cash benefits for the public [8] Group 2: Economic Indicators - In July, China's manufacturing PMI fell to 49.3%, a decrease of 0.4 percentage points from the previous month, indicating a contraction in the manufacturing sector [12][13] - The non-manufacturing business activity index and the comprehensive PMI output index were reported at 50.1% and 50.2%, respectively, both remaining above the expansion threshold despite slight declines [12][13] Group 3: Monetary Policy - The People's Bank of China has committed to maintaining a moderately loose monetary policy, focusing on stabilizing growth, ensuring employment, and promoting livelihoods [10] - The central bank aims to enhance the effectiveness of monetary policy transmission and improve the efficiency of fund utilization, while also managing exchange rate stability [10] Group 4: U.S. Employment Data - The U.S. non-farm payrolls data for July showed a significant drop, with only 73,000 jobs added, far below the expected 110,000, and previous months' data was revised down by 258,000 [11] - The unemployment rate rose to 4.2%, and the labor force participation rate fell to 62.2%, the lowest in nearly three years, raising concerns about a potential economic recession [11]
国务院常务会议部署深入实施人工智能+行动；美国就业数据远逊预期且大幅下修｜每周金融评论（2025.7.28-2025.8.03）
清华金融评论·2025-08-04 11:05