Core Points - The Ministry of Transport, along with the Ministry of Finance and the Ministry of Natural Resources, has issued a new action plan aimed at enhancing rural road infrastructure in China by 2027 [1] - The plan targets the construction and renovation of 300,000 kilometers of rural roads, the implementation of maintenance projects for another 300,000 kilometers, and aims to maintain a road quality rate of over 70% [1] - Additional goals include the construction of 15,000 kilometers of safety protection projects, the renovation of 9,000 dilapidated bridges, and achieving a public transport access rate of over 55% in administrative counties [1] Summary by Categories Infrastructure Development - The action plan outlines the construction of 300,000 kilometers of new and renovated rural roads and 300,000 kilometers of maintenance projects [1] - The plan also includes the renovation of 9,000 old bridges to improve infrastructure safety [1] Quality and Safety - The target is to maintain a road quality rate of over 70% and to implement safety life protection projects covering 15,000 kilometers [1] Transportation Services - The plan aims to enhance rural transportation service quality and explore new governance models for rural roads [1] - It emphasizes the integration of passenger and freight transport services in rural areas [1] Coordination and Implementation - The Ministry of Transport will coordinate with other departments to ensure effective implementation of the action plan [1] - The plan serves as a key tool for promoting high-quality development of rural roads [1]

Core Points - The Ministry of Transport, along with the Ministry of Finance and the Ministry of Natural Resources, has issued a new action plan for rural road enhancement, aiming to complete the construction and renovation of 300,000 kilometers of rural roads by 2027 [1] - The plan includes maintaining a good road condition rate of over 70%, implementing safety protection projects on 150,000 kilometers of roads, renovating 9,000 dilapidated bridges, and achieving a public transport coverage rate of over 55% in administrative counties [1] - The action plan emphasizes eight key areas for improvement, including road network quality, safety, transportation, governance capacity, travel services, beautiful countryside, support for industries, and income increase [1] Summary by Categories Road Network Development - The plan aims to optimize and improve the rural road network, focusing on both new construction and the enhancement of existing roads [1] - A total of 300,000 kilometers of new and renovated rural roads are targeted for completion by 2027 [1] Safety and Quality - The plan sets a goal to maintain a road condition rate of over 70% and to implement safety life protection projects on 150,000 kilometers of roads [1] - Renovation of 9,000 old bridges is also included to enhance safety [1] Public Transport and Accessibility - The plan aims for a public transport coverage rate of over 55% in administrative counties, facilitating better access to rural areas [1] Governance and Service Improvement - The action plan proposes to explore new governance models for rural roads and improve the quality of rural transportation services [1] - It emphasizes the need for coordinated efforts among various government departments to ensure effective implementation of the plan [1]

新华 计划到2027年,我国将完成新改建农村公路30万公里,实施修复性养护工程30万公里,实施安全生命防护工 程15万公里,改造危旧桥梁9000座,建制村通公交率达到55%以上。这是交通运输部新闻发言人李颖在27 日交通运输部举行的例行新闻发布会上,根据日前出台的《新一轮农村公路提升行动方案》作出的表 述。 ...

新华社北京8月27日电（记者 叶昊鸣）计划到2027年，我国将完成新改建农村公路30万公里，实施 修复性养护工程30万公里，实施安全生命防护工程15万公里，改造危旧桥梁9000座，建制村通公交率达 到55%以上。 这是交通运输部新闻发言人李颖在27日交通运输部举行的例行新闻发布会上，根据日前出台的《新 一轮农村公路提升行动方案》作出的表述。 近日，该行动方案由交通运输部与财政部、自然资源部联合印发，立足农村公路发展逐步进入精准 增量有序建设与存量更新提质增效并重的新阶段，更加注重质量和效益、建管养运全面协调发展和精准 施策。 李颖表示，行动方案提出，要持续优化完善农村公路路网，全力做好"十四五"农村公路收官工作； 切实加强农村交通安全保障；扎实提升农村运输服务品质；持续提高农村公路治理能力；全面强化农村 公路养护质量；有力服务推进乡村全面振兴。 除此之外，行动方案还从加强资金保障、强化工作统筹、完善法规政策体系等方面明确了相关制度 保障。 "下一步，我们将锚定目标任务，加强与财政、自然资源等部门的协调配合，精心组织实施，确保 新一轮农村公路提升行动取得实效。"李颖说。 ...

Core Viewpoint - The Ministry of Transport of China plans to complete the construction and renovation of 300,000 kilometers of rural roads by 2027, alongside various other infrastructure improvements aimed at enhancing rural transportation and safety [1][2]. Group 1: Action Plan Overview - The "New Round of Rural Road Improvement Action Plan" aims to achieve a comprehensive completion of 300,000 kilometers of new and renovated rural roads by 2027, with an additional 300,000 kilometers undergoing repair and maintenance [1][2]. - The plan emphasizes quality and efficiency, focusing on coordinated development of construction, management, maintenance, and operation [1][2]. Group 2: Key Focus Areas - Continuous optimization of the rural road network, ensuring the completion of the "14th Five-Year Plan" for rural roads, with a focus on tailored planning and integration of new and existing road projects [2]. - Strengthening rural traffic safety measures, including enhancing operational safety and disaster risk reduction [3]. - Improving the quality of rural transportation services to facilitate easier travel for residents and smoother logistics between urban and rural areas [4]. - Enhancing governance capabilities for rural roads through better planning, responsibility allocation, and digital empowerment [4]. - Reinforcing the quality of rural road maintenance and promoting innovative maintenance production models [4]. - Supporting comprehensive rural revitalization efforts, contributing to the development of rural industries, and promoting employment and income growth for local communities [4]. Group 3: Institutional Support - The action plan outlines the need for strengthened financial support, improved coordination among various departments, and the establishment of a comprehensive regulatory policy framework [4]. - The Ministry of Transport will work closely with the Ministry of Finance and the Ministry of Natural Resources to ensure effective implementation of the action plan [4].

本报北京8月20日电(记者严冰)记者从交通运输部获悉，8月19日至20日，2025年推动"四好农村路"高质 量发展现场会在湖南省湘西土家族苗族自治州召开，交通运输部有关负责人表示，截至目前，农村公路 建设已提前完成"十四五"规划有关目标任务。 数据显示，"十四五"以来，中央累计投入车购税资金2200亿元，带动全社会完成农村公路投资约2万亿 元，投入农村客运补贴资金444.5亿元，农村公路养护资金超4000亿元。"十四五"前四年，全国农村公 路新改建71.6万公里，总里程达464.4万公里，较"十三五"末增长6%。乡镇通三级及以上公路比例达 89.5%，较大人口规模自然村(组)通硬化路比例达94.6%，"十四五"规划有关目标任务已提前完成，外通 内联、通村畅乡的农村交通网络基本形成。 下一步，交通运输部将以实施新一轮农村公路提升行动为主抓手，持续优化完善农村公路路网，为促进 农民农村共同富裕、推进乡村全面振兴、加快农业农村现代化步伐提供坚强有力的交通运输服务保障。 ...

Core Points - The meeting highlighted the significant investment in rural road development, with a total of 2.2 trillion yuan allocated since the start of the 14th Five-Year Plan, leading to approximately 2 trillion yuan in rural road investments and over 400 billion yuan in rural road maintenance funds [1][2] - The rural road network has expanded significantly, with 716,000 kilometers of new or renovated roads completed, bringing the total to 4.644 million kilometers, a 6% increase from the end of the 13th Five-Year Plan [1] - The meeting emphasized the transition to a new phase of rural road development focusing on quality and efficiency, with a call for precise strategies and comprehensive coordination in construction, management, and maintenance [1][2] Investment and Development - The central government has invested 220 billion yuan in vehicle purchase tax funds, which has catalyzed broader investments in rural infrastructure [1] - The rural road network now connects 89.5% of towns to tertiary roads and 94.6% of larger population villages to paved roads, achieving targets ahead of schedule [1] Future Plans - The "New Round of Rural Road Improvement Action Plan" aims to complete 300,000 kilometers of new or renovated rural roads by 2027, with a focus on enhancing safety and service capabilities [3][4] - The plan includes specific targets such as maintaining a 70% rate of roads in good technical condition and increasing the public transport coverage in administrative villages to 55% [3] Challenges and Solutions - Current challenges include low technical standards of rural roads, quality issues, and insufficient management and maintenance capabilities [3] - The action plan proposes eight enhancement actions to address these challenges, including upgrading the backbone road network and improving safety measures [4]

Group 1 - The stock price of China Communications Design (600720) closed at 8.15 yuan on August 8, 2025, with an increase of 1.24% and a trading volume of 191,700 shares, resulting in a transaction amount of 156 million yuan [1] - The company plans to actively participate in the new round of rural road improvement actions, leveraging its high-standard planning and design capabilities, localized business layout, and full-chain service capabilities [2] - On August 8, the net inflow of main funds into China Communications Design was 11.37 million yuan, accounting for 7.31% of the total transaction amount [3][4] Group 2 - On the same day, retail investors experienced a net outflow of 5.17 million yuan, which represented 3.33% of the total transaction amount [4] - The net outflow of speculative funds was 6.20 million yuan, making up 3.98% of the total transaction amount [4]

Group 1: Investment Rating - No investment rating information provided Group 2: Core Views - Steel and ore are expected to show a short - term oscillating trend. For rebar and hot - rolled coils, it's difficult to reach new highs in the short term, and the market will mainly oscillate. For iron ore, although the daily pig iron output has decreased, it remains at a relatively high level above 2.4 million tons, which restricts the downside space [5]. - Short - term trading is recommended as the market is in a short - term oscillating state [6]. Group 3: Summary by Related Catalogs Steel and Ore Market Conditions - Rebar and hot - rolled coils: The main contracts are shifting positions. Due to high - temperature and heavy - rain weather, demand is still weak. According to Zhaogang.com data, this week, the production and apparent demand of rebar and hot - rolled coils decreased, while inventory increased, with obvious restocking. The RB2510 contract has a pressure level of 3300 and a support level of 3150. The support level for hot - rolled coils is 3300, and the pressure level is 3550. The main stainless - steel contract has a pressure level of 13200 and a support level of 12650 [5]. - Iron ore: The daily pig iron output this week was 2.4032 million tons, a decrease of 0.0039 million tons compared to the previous week. Although it decreased, it remains above 2.4 million tons, restricting the downside space. The pressure level for the main iron - ore contract has moved down to 835, and the support level is 750 [5]. Important News - The US President Trump signed an executive order to impose an additional 25% tariff on goods from India, making the total tariff rate reach 50%, and the new 25% tariff will take effect in 21 days [13]. - In late July 2025, key steel enterprises produced 21.8 million tons of crude steel, with an average daily output of 1.982 million tons, a 7.4% decrease in daily output compared to the previous period; 20.41 million tons of pig iron, with an average daily output of 1.856 million tons, a 4.5% decrease in daily output; and 23 million tons of steel products, with an average daily output of 2.091 million tons, a 0.5% increase in daily output [13]. - The Ministry of Transport, the Ministry of Finance, and the Ministry of Natural Resources issued the "New Round of Rural Road Improvement Action Plan", aiming to complete the reconstruction and construction of 300,000 kilometers of rural roads nationwide by 2027 [13]. - In late July 2025, the steel inventory of key steel enterprises was 14.78 million tons, a decrease of 0.88 million tons compared to the previous ten - day period, a 5.6% decrease; an increase of 2.41 million tons compared to the beginning of the year, a 19.5% increase; a decrease of 0.67 million tons compared to the same ten - day period of the previous month, a 4.3% decrease; a decrease of 1.27 million tons compared to the same ten - day period of last year, a 7.9% decrease; and an increase of 0.29 million tons compared to the same ten - day period of the year before last, a 2.0% increase [13]. - The China Federation of Logistics and Purchasing announced that the global manufacturing PMI in July was 49.3%, a decrease of 0.2 percentage points compared to the previous month, indicating that the recovery momentum of the global manufacturing industry weakened compared to the previous month and continued to operate weakly [13]. - Seven departments including the central bank jointly issued the "Guiding Opinions on Financial Support for New - type Industrialization", supporting mining enterprises to increase reserves and production of important minerals and improve the supply guarantee capacity of strategic resources [14]. - On July 30, the 11th Council (Expanded) Meeting of the 6th China Iron and Steel Association was held in Beijing, focusing on in - depth discussions around "controlling production capacity, combating involution, strengthening cooperation, and promoting transformation" [14]. Steel Supply and Inventory - This week, the steel supply decreased slightly. The total steel supply was 8.6921 million tons, a week - on - week increase of 0.0179 million tons; the total inventory was 13.7536 million tons, a week - on - week increase of 0.2347 million tons [15][16]. - Rebar: This week, the supply was 2.2118 million tons, a week - on - week increase of 0.1012 million tons; the total inventory was 5.6668 million tons, a week - on - week increase of 0.1039 million tons, a decrease rate of 0.9%; the apparent consumption was 2.1658 million tons, a 5.0% increase compared to the previous period. The apparent demand increased by 0.0738 million tons to 2.1079 million tons [18]. - Hot - rolled coils: This week, the supply was 3.1489 million tons, a week - on - week decrease of 0.079 million tons; the total inventory increased by 0.0868 million tons to 3.5663 million tons; the apparent demand decreased by 0.1379 million tons to 3.0621 million tons [18]. - Rebar inventory contradiction is not prominent. This week, rebar's factory inventory, social inventory, and total inventory increased. For hot - rolled coils, the factory inventory decreased, while the social inventory and total inventory increased, showing restocking behavior [20][21]. Pig Iron and Iron Ore - This week, the daily pig iron output was 2.4032 million tons, a decrease of 0.0039 million tons compared to the previous week. Although it decreased, it remains at a relatively high level above 2.4 million tons, restricting the downside space of iron ore [24].

Report Summary 1. Report Industry Investment Rating No relevant information provided. 2. Core View of the Report The macro - aspect shows that the Fed's expectation of a September interest rate cut is rising, and tariff disturbances are increasing, leading to repeated fluctuations in market sentiment. The silicon - iron main contract should be treated as oscillating [6]. 3. Summary by Directory 3.1 Week - on - Week Summary - **Macro**: On July 30, the China Iron and Steel Association's meeting focused on "controlling production capacity, combating involution, strengthening collaboration, and promoting transformation". The new rural highway improvement plan aims to reconstruct 300,000 kilometers of rural roads by 2027 [6]. - **Overseas**: Trump proposed about 100% tariffs on chips and semiconductors, with Apple promising a $600 billion investment. Trump also imposed a 25% additional tariff on Indian goods, and India is negotiating within a 21 - day window [6]. - **Supply and Demand**: After profit improvement, production has rebounded rapidly in recent weeks, and inventory has also increased. The price of Ningxia semi - coke has risen, and steel demand is generally weak. Inner Mongolia's spot profit is 1 yuan/ton, and Ningxia's is 150 yuan/ton [6]. - **Technical**: The weekly K - line of the silicon - iron main contract is below the 60 - day moving average, showing a bearish weekly trend [6]. - **Strategy**: Treat the silicon - iron main contract as oscillating due to the macro - situation [6]. 3.2 Futures and Spot Market - **Futures Market**: As of August 8, the silicon - iron futures contract's open interest was 463,000 lots, a week - on - week increase of 63,000 lots. The 1 - 9 contract monthly spread was 186, a week - on - week increase of 56 points. The warehouse receipt quantity was 19,646, a week - on - week decrease of 2,396. The Ningxia silicon - iron price was 5,600 yuan/ton, unchanged from the previous week [12][17]. - **Spot Market**: As of August 8, the silicon - iron basis was - 242 yuan/ton, a week - on - week decrease of 70 points [20]. 3.3 Industry Chain Situation - **Production**: This week (August 7), the national silicon - iron capacity utilization rate was 34.32%, a week - on - week increase of 0.56%. The daily average output was 15,590 tons, a week - on - week increase of 4.45% (665 tons). The five major steel types' silicon - iron weekly demand was 20,266.3 tons, a week - on - week increase of 1.73%, and the national silicon - iron weekly supply was 109,100 tons [26]. - **Inventory**: This week (August 7), the national silicon - iron inventory was 71,700 tons, a week - on - week increase of 9.42% (6,180 tons). Inner Mongolia's inventory increased by 6,400 tons to 40,800 tons, while Ningxia's decreased by 300 tons to 9,100 tons [29]. - **Upstream**: As of August 4, the electricity prices in Ningxia and Inner Mongolia for silicon - manganese and silicon - iron were unchanged. As of August 7, the average price of Ningxia semi - coke was 636 yuan/ton, a week - on - week increase of 45 yuan/ton [35]. - **Downstream**: This week, the daily average hot - metal output of 247 steel mills was 2.4032 million tons, a week - on - week decrease of 390,000 tons but an increase of 862,000 tons compared to last year. From January to June 2025, the total silicon - iron export volume was 200,100 tons, a 10.09% decrease compared to the same period last year [47].