Core Insights - The electricity consumption in Guangzhou during the Spring Festival period shows a robust economic growth, with a year-on-year increase of 4.64% across all sectors [1] Group 1: Electricity Consumption by Sector - The primary industry experienced a significant electricity consumption increase of 11.62% [1] - The tertiary industry saw an 8.14% growth in electricity usage, accounting for over 50% of total electricity consumption, making it a key driver of growth [1] - The secondary industry reported an 8.54% increase in electricity consumption, indicating stable operations in key industrial parks and enterprises [1] Group 2: Impact of Cultural and Tourism Activities - Over 2,000 cultural and tourism events during the Spring Festival boosted foot traffic in popular commercial areas such as Beijing Road and Tianhe Road [1] - The demand for electricity in consumption scenarios significantly increased due to the popularity of tourist attractions like Chimelong Safari Park and Nansha Tianhou Palace [1] Group 3: Agricultural Sector Insights - The electricity consumption in the agricultural sector, particularly in animal husbandry, showed notable growth, supporting essential agricultural activities such as irrigation [1] - This increase in electricity supply is crucial for the preparation of spring farming, reflecting the acceleration of agricultural modernization [1]

报告日期：2025 年 7 月 21 日 申银万国期货研究所 首席点评：美国稳定币监管立法落地，中国工业经济韧性凸显 美国总统特朗普在白宫正式签署《指导与建立美国稳定币国家创新法案》（简 称《天才法案》），标志着美国稳定币监管立法进入实施阶段。 美国众议院 17 日以 308 票赞成、122 票反对的结果，通过了这一法案，该法案旨在为"锚 定"美元的稳定币制定监管框架。国内方面今年上半年工业和信息化领域主要 经济指标总量和增速稳步提升，规上工业增加值同比增长 6.4%，在一季度良好 开局的基础上展现出较强韧性，制造业增加值占 GDP 比重达到 25.7%，基本保 持稳定。下一步，多项政策举措将筑牢工业经济基本盘、持续培育发展动能。 其中，工业和信息化部将实施新一轮钢铁、有色金属、石化、建材等十大重点 行业稳增长工作方案；会同相关部门完善支持新型工业化的金融政策，纵深推 进产融合作；在政策、人才、资金、市场等方面持续优化企业发展环境。 重点品种：黄金、钢材、股指 钢材：当前钢厂盈利率持平未明显降低，铁水仍处高位缓慢回落的情况下，钢材 供应端压力逐步体现。钢材库存延续去化，钢材出口虽面临关税和反倾销影响， 但钢坯 ...