Economic Overview - The overall economic operation in May remained stable, with some indicators continuing to improve, showcasing strong resilience and vitality in China's economy [1] - The economic operation is expected to maintain a steady and progressive development trend in the first half of the year [1] Production and Demand - In May, industrial production saw rapid growth, supported by various policies, with the industrial added value for large-scale enterprises increasing by 5.8% year-on-year and 0.61% month-on-month [3] - The manufacturing sector experienced a 6.2% year-on-year growth, while the equipment manufacturing and high-tech manufacturing sectors grew by 9.0% and 8.6%, respectively, outpacing the overall industrial growth [3] - The service sector's production index increased by 6.2% year-on-year, with significant contributions from information transmission, software, and IT services, which grew by 11.2% [3][4] Consumer Market - The total retail sales of consumer goods in May rose by 6.4% year-on-year, accelerating by 1.3 percentage points compared to the previous month [4] - The "old for new" consumption policy significantly boosted retail sales in various categories, including home appliances and communication equipment, with growth rates of 53.0% and 33.0%, respectively [4] New Growth Drivers - The new growth drivers, including high-end manufacturing, digital economy, and new energy industries, are continuously strengthening, promoting industrial transformation and stable economic operation [5] - High-tech manufacturing added value increased by 8.6% year-on-year, with the production of new energy vehicles and solar batteries growing by 31.7% and 27.8%, respectively [5][6] Innovation and Green Transition - Continuous innovation investment and technological advancements are driving industrial innovation, with industrial robot production increasing by 32% and smart vehicle equipment manufacturing rising by 26.8% [6] - The green low-carbon transition is ongoing, with significant growth in clean energy generation, including wind and solar power, which increased by 11.1% and 18.3%, respectively [6] Trade Performance - In May, the total import and export value reached 38,098 billion yuan, with exports growing by 6.3% and imports declining by 2.1% [7] - Trade with ASEAN, the EU, and Belt and Road countries showed growth, with respective increases of 9.1%, 2.9%, and 4.2% in the first five months [8] - Private foreign trade enterprises demonstrated strong market adaptability, with their export growth at 8% and import growth at 4.9%, outperforming overall foreign trade [8]

6月15日，攀西电网优化改造工程全面建成投运。随着攀西电网完成历史性重塑，四川电网实现结 构性升级，有力推动了四川电力外送通道向清洁能源基地延伸，为"西电东送"国家战略构筑了更坚实 的保障体系；有力提升了攀西地区向省内负荷中心的输电能力，大幅增强了电网运行灵活性与极端故 障抵御能力，实现外送更稳、内供更强、支撑更优。 该工程是推动西南地区构建新型能源体系、加速绿色低碳转型的关键一步，也是推动清洁能源优 势向区域发展动能转化的具体实践。攀西地区得天独厚的资源优势将进一步转化为强劲的经济增长动 力，为区域发展注入了新活力。 为什么要优化？ 疏经通络，"外科手术"化解系统风险 攀西电网优化改造工程新建的500千伏建叙线翻越高海拔山脉。周毅/摄 工程保驾护航。国网四川电力用最高标准、最强组织、最严要求、最实措施、最佳状态，制定了环环 相扣的施工计划，扎实开展工程建设。 2022年11月，这场国家电网公司有史以来最复杂的500千伏省级电网优化改造工程，在阵阵机械声 中拉开序幕。 工程历时三年、分为五个阶段实施，新建500千伏开关站一座、500千伏线路680公里，涉及15回在 运500千伏线路改接、8座变电站改扩建、超1 ...

金十数据6月16日讯，国家统计局新闻发言人付凌晖在国新办发布会上表示，我国坚定不移推动经济绿 色低碳转型，不仅改善了生态环境，更促进了以新能源行业为代表的绿色产业稳定发展，形成新的经济 增长点。今年以来，我国绿色产业发展延续向好态势。1-5月份，新能源汽车、太阳能电池产量同比分 别增长40.8%、18.3%。清洁能源发电量快速增长，1-5月份规模以上工业风电、太阳能发电量分别增长 11.1%和18.3%。 （中国网） 国家统计局：我国绿色产业发展延续向好态势 ...

Group 1: Green Transition in Luliang - Luliang City is pursuing a unique green low-carbon transition that is tailored to local conditions and resources, emphasizing a "China-style solution" through systematic approaches in industrial restructuring and institutional innovation [1][3] - The city has implemented a comprehensive livestock waste management project in Wenxian County, which processes 1.5 million tons of solid waste annually, converting it into 80,000 tons of biomass fuel, effectively replacing 34,000 tons of standard coal [1] Group 2: Industrial Development - Luliang is promoting the development of low-carbon building materials by utilizing coal chemical by-products and solid waste, with an industrial park projected to process 1.3 million tons of industrial solid waste in 2024, generating approximately 140 million yuan in output [2] - The park also recycles 10,000 tons of rubber waste into modified asphalt, contributing an additional 30 million yuan in value, aligning with national strategies for energy and transportation integration [2] Group 3: Hydrogen Energy Initiatives - Luliang is leveraging its high demand for heavy-duty transportation and hydrogen by-products from coal chemical processes to promote hydrogen energy applications, addressing the dual challenges of "no vehicles available" and "idle hydrogen sources" [3] - The city is transitioning from gray hydrogen to blue and green hydrogen, aiming to establish a high-quality hydrogen energy ecosystem in inland regions [3] Group 4: Future Development Strategies - Future initiatives include promoting green industrial upgrades through smart microgrids that integrate photovoltaic, energy storage, and adjustable loads to enhance energy efficiency [4] - The city plans to utilize the "Tianhe-2" supercomputer and green electricity to deepen "computing and electricity synergy," supporting emerging industries with dynamic load matching [4]

Core Points - The conference focused on enhancing trade and supply chain cooperation between China (Guangdong) and ASEAN, aiming for mutual benefits and expanded bilateral trade and investment [1][2] - Guangdong's trade with ASEAN is projected to reach 1.5 trillion yuan in 2024, marking an 8% increase and accounting for one-fifth of China's total trade with ASEAN [2] - The establishment of various cooperation agreements and platforms, including the "Yue Chain ASEAN" online service platform and the International Supply Chain Cooperation Alliance, signifies a commitment to deeper collaboration [3] Group 1 - The conference was attended by key officials, including ASEAN Secretary-General's special assistant and Guangdong's Vice Governor, emphasizing the importance of regional cooperation [1] - The meeting highlighted Guangdong's role as a vital platform for ASEAN businesses to enter the Chinese market, particularly in the context of the Guangdong-Hong Kong-Macao Greater Bay Area [2] - The ASEAN Trade Promotion Association aims to create a more inclusive and win-win trade cooperation ecosystem, responding to the current global economic adjustments [2] Group 2 - Multiple cooperation memorandums were signed between Guangdong and various ASEAN business councils, indicating a formal commitment to collaboration [3] - The launch of the Guangdong-ASEAN trade investment service centers in several ASEAN countries reflects the strategic push for enhanced economic ties [3] - The establishment of the Guangdong-ASEAN International Supply Chain Cooperation Alliance marks a significant step towards building a stable and efficient regional supply chain [3]

Industry Overview - China is the largest producer and consumer of liquid ammonia, with an estimated production of approximately 62.1 million tons in 2024, representing a year-on-year growth of 2.39% [1][13] - The stable agricultural demand is a key factor supporting the growth of liquid ammonia production, as it is a core raw material for nitrogen fertilizer [1][13] - China's total grain production is expected to reach a new high of over 1.4 trillion jin in 2024, which directly drives the demand for nitrogen fertilizers and subsequently boosts liquid ammonia production [1][13] - The recovery of industrial demand, particularly in the chemical and refrigeration sectors, is also contributing to the growth of liquid ammonia production [1][13] Industry Development History - The development of China's liquid ammonia industry has gone through four stages, starting from the establishment of the first synthetic ammonia production workshop in 1935 [4][5] - The industry expanded significantly from the 1950s to the 1970s, with applications extending to lawn maintenance and greenhouse planting [5] - From the 1970s to 2015, the industry faced strict environmental regulations, leading to technological innovations and the development of more environmentally friendly production methods [5][6] - Since 2015, the industry has been undergoing a transformation towards green ammonia production, utilizing renewable energy sources [6][7] Industry Chain - The upstream of the liquid ammonia industry includes raw materials such as coal, natural gas, and production equipment [9] - The midstream involves the manufacturing process of liquid ammonia, while the downstream applications span agriculture, industry, and new energy sectors [9] Market Size - The stable growth in grain production and the recovery of industrial demand are expected to drive liquid ammonia production in 2024 [1][13] - The price of liquid ammonia in April 2025 was reported at 2,650 yuan per ton, reflecting a month-on-month increase of 3.52% but a year-on-year decrease of 13.96% [15] Key Enterprises - The competitive landscape of the liquid ammonia industry is characterized by a concentration of leading companies such as Yuntianhua, Hubei Yihua, and Hualu Hengsheng, which dominate the market [17] - These leading enterprises are extending their operations upstream to raw material production and downstream to fertilizer and chemical markets, forming a closed loop from raw materials to production and application [17] Industry Development Trends - The industry is accelerating its transition to green and low-carbon production methods, with green ammonia technology becoming a key breakthrough [23][25] - There is a trend towards deeper capacity integration, with leading companies expanding their market share through mergers and acquisitions [24][25] - The demand for liquid ammonia in the new energy sector is rising, with its potential applications in energy storage and shipping becoming increasingly significant [26]

Core Insights - Haicheng, known as the "World Magnesium Capital," is undergoing a significant industrial transformation towards high-quality development in the magnesium industry, driven by resource integration, capacity upgrades, and full-chain layout strategies [1] Group 1: Smart Regulation - The city has implemented a smart magnesium big data center with a 50 million yuan investment, featuring 20 electronic screens that monitor the mining activities of 23 mines in real-time, transitioning from manual oversight to data-driven management [2] Group 2: Green Transformation - A new production line with a 200 million yuan investment has been launched, achieving a 36% reduction in comprehensive energy consumption and a 40% increase in physical productivity, saving 1,470 tons of standard coal annually, marking a significant green transformation in the industry [3] - Haicheng has eliminated 186 light-burned reflective kilns, reducing capacity by 1.94 million tons, advancing towards intelligent and low-carbon production [3] Group 3: Full-Chain Layout - The first phase of a high-end magnesium building materials project, with an annual production capacity of 90 million square meters, has completed the main construction of three factories and is expected to be fully operational by June [4] - The city has developed a special plan for a green upgrade demonstration zone, focusing on enhancing magnesium refractory materials, expanding magnesium building materials, strengthening magnesium chemicals, and developing magnesium alloys, aiming for high-quality development [4] - Haicheng is transitioning from a resource-consuming economy to a green quality manufacturing model, leveraging its natural resource advantages and digital empowerment to enhance governance efficiency and reshape industrial structure [4]

Core Insights - The 2025 "Belt and Road" Power and Energy Senior Seminar Project was launched on June 6, 2023, at the State Grid Technical Institute, gathering 28 executives and scholars from various Belt and Road countries to discuss global energy trends [1][3] Group 1: Project Overview - The theme of this year's seminar is "Promoting Green Energy Cooperation and Building a New Power System," with sessions held in Jinan, Xi'an, and Hong Kong, concluding on June 17 [3] - The program includes six specialized lectures on topics such as "Sharing China's Green Power Transition Cases" and "Applications of Artificial Intelligence in Power Grids," along with site visits to green low-carbon charging stations and manufacturing bases [3][7] Group 2: Participant Feedback - Participants, such as Ferdinand DICON from the Philippines, expressed admiration for China's achievements in low-carbon energy transition and highlighted the importance of system stability for their national grid [3] - Matías HEPP from Chile noted the depth of Chinese traditional culture and expressed a desire to act as a bridge for cultural exchange [5] Group 3: Training Organization and Methodology - The State Grid Technical Institute meticulously organized the training, focusing on the development trends in the power energy sector and ensuring a comprehensive learning experience [7] - The training features an innovative interactive teaching model, emphasizing participant engagement and experience to enhance training effectiveness [7][9] Group 4: Historical Context and Impact - This seminar project, initiated by the State Grid Corporation, Xi'an Jiaotong University, Hong Kong Polytechnic University, and Hong Kong Electric Company, marks the eighth consecutive year of its implementation [9] - Over the past eight years, the project has attracted 858 executives from 45 countries and regions, promoting technology demonstration, standard promotion, and knowledge sharing [9][10] - The State Grid Technical Institute has hosted 64 international training sessions, training over 4,100 participants from 86 countries and regions, thereby strengthening exchanges and mutual trust among energy professionals in Belt and Road countries [10]

Core Viewpoint - The launch of the first recycled metal product, casting aluminum alloy futures and options, marks a significant milestone for China's recycled metal industry and reflects the latest achievements in the comprehensive coverage of non-ferrous metal futures products driven by the integration of production and finance [2][3]. Industry Performance - The non-ferrous metal industry has maintained a positive development trend since the 14th Five-Year Plan, with a global production share exceeding 60% [2]. - From January to April this year, the production of ten non-ferrous metals reached 26.6 million tons, a year-on-year increase of 2.3% [2]. - The added value of large-scale non-ferrous metal industries grew by 7.4% year-on-year, while fixed asset investment increased by 20.7%, surpassing the national industrial investment growth rate by 9 percentage points [2]. - Revenue for large-scale non-ferrous metal industrial enterprises reached 3.09 trillion yuan, a year-on-year growth of 18.0%, with total profits amounting to 128.17 billion yuan, reflecting a 30.3% increase [2]. Recycled Non-Ferrous Metals - Recycled non-ferrous metals are crucial for ensuring resource security and promoting green and low-carbon transitions, with projected production of recycled copper, aluminum, lead, and zinc reaching 19.15 million tons in 2024, accounting for 24% of total non-ferrous metal production [3]. - The production of recycled aluminum has surpassed 10 million tons, contributing to a carbon reduction of 170 million tons, highlighting its significance in green and low-carbon circular development [3]. Futures Market Development - The listing of casting aluminum alloy futures and options is expected to enhance China's aluminum industry's international influence and support the establishment of a comprehensive risk management system for the industry [3]. - The association encourages enterprises to actively participate in futures trading and utilize futures tools for effective risk management [3]. - Ongoing collaboration between the association and the exchange in areas such as product innovation, standard setting, industry training, market services, and green supply chain development has been fruitful [3].

Core Viewpoint - The launch of casting aluminum alloy futures and options marks the first futures product in China's recycled metal industry, aimed at enhancing price risk management and resource allocation efficiency in the industry [2][3]. Industry Overview - China has established a complete aluminum industry chain from bauxite to recycled aluminum, with casting aluminum alloy being a key product for recycling waste aluminum and contributing to low-carbon transformation [2][3]. - The recycled non-ferrous metal sector is crucial for ensuring resource security and promoting green low-carbon transitions, with recycled aluminum production exceeding 10 million tons and contributing to significant carbon reduction [3][5]. Market Impact - The trading of casting aluminum alloy futures is expected to provide richer risk management tools for companies, helping them to better lock in prices and enhance competitiveness [4]. - The introduction of these futures is anticipated to improve industry concentration and increase transparency in product quality and pricing [4]. Future Projections - By 2030, China's recycled aluminum production is projected to exceed 18 million tons, with the launch of casting aluminum alloy futures and options expected to promote standardized development in the recycled aluminum industry [5].