Core Viewpoint - The article highlights a slight recovery in industrial production and construction activity, alongside an increase in freight volume, indicating potential improvements in economic conditions. Group 1: Industrial Production - Industrial production shows a slight recovery, with the blast furnace operating rate increasing by 0.8% year-on-year [5][9] - The chemical production chain has seen improvements, with soda ash and polyester filament operating rates increasing by 3.3 percentage points and 1.9 percentage points year-on-year, respectively [2][17] - The automotive sector also shows improvement, with semi-steel tire operating rates up by 3.2 percentage points year-on-year [17] Group 2: Construction Activity - Construction activity is showing signs of recovery, with the national grinding operating rate increasing by 1.4 percentage points year-on-year [29] - Cement shipment rates have significantly improved, with a year-on-year increase of 2.4 percentage points [29][33] - Asphalt operating rates have slightly decreased but remain higher than the same period last year [2][41] Group 3: Demand and Freight Volume - Real estate transactions remain low, with average daily transaction area down by 7.1 percentage points year-on-year [53] - Freight volume has increased, with port cargo throughput and container throughput rising by 1.3 percentage points and 4.4 percentage points year-on-year, respectively [65][72] - The national migration scale index has increased by 4.9 percentage points year-on-year, indicating stronger movement of people [77] Group 4: Price Trends - Agricultural product prices are generally weak, with pork, vegetables, and fruit prices declining by 0.1%, 0.1%, and 1.0% respectively [107] - Industrial product prices have generally increased, with the Nanhua Industrial Price Index rising by 1.0% [119][120] - The energy and chemical price index increased by 0.9%, while the metal price index also rose by 1.0% [119][126] Group 5: Export Indicators - Export indicators show potential improvement, with foreign trade port cargo volume increasing by 8.9% year-on-year [135] - Container throughput to Vietnam has surged to over 60%, while shipments to the U.S. have decreased [135] - The overall export production index has increased by 0.5 percentage points, suggesting a positive outlook for July exports [138]

Group 1: Export Indicators - In July, foreign trade port cargo volume increased by 8.9% year-on-year, indicating potential short-term improvement in actual export volume[1] - Container throughput from China to Vietnam surged to over 60%, while shipments to the U.S. declined, with a drop to -7% by July 20[1][15] - The U.S. container booking volume from China has remained low, showing a year-on-year decrease of -16.9% since late June[1][15] Group 2: Price and Freight Rate Trends - The CCFI composite index fell for three consecutive weeks in July, down 4.8% compared to the end of June, with significant declines in rates for the U.S. West Coast routes[2][18] - The relative freight rates for Southeast Asia and East-West Africa routes have increased, indicating better export performance to emerging markets compared to the U.S.[2][24] Group 3: Production and Export Correlation - In July, production indicators for exports rose by 0.5 percentage points, with significant contributions from the consumption and metallurgy chains[3][4] - The production growth rate for key industrial products aligns closely with export delivery value growth, suggesting a resilient export outlook[3][4] Group 4: Macroeconomic Indicators - Processing trade imports rose by 3.3% in June, suggesting a potential export increase of around 8% in July[5] - The Yiwu small commodity export price index remains high, supporting the expectation of increased cross-border commodity export growth in July[5] Group 5: Risks and Future Outlook - There are concerns about a potential decline in export figures after September due to signs of weakening in strong-performing export sectors[6] - New export orders in the metallurgy and consumption chains have shown a downward trend, which may indicate a decrease in export readings by the end of Q3[6]