Core Viewpoint - The document outlines the Chinese government's support for Shenzhen to deepen reforms and innovations in the low-altitude economy, marking a significant upgrade in its exploration of low-altitude economic development, which is expected to accumulate new experiences and explore new paths for the national low-altitude economy [1] Policy and Regulatory Framework - The document emphasizes the establishment of a comprehensive regulatory framework for low-altitude flight management, including the implementation of the "Interim Regulations on the Management of Unmanned Aerial Vehicle Flights" and the exploration of cross-border helicopter flights and public service aviation [1][2] Economic Growth Projections - China's low-altitude economy is projected to exceed 580 billion yuan by March 2025 and is expected to surpass 3.5 trillion yuan by 2035, indicating strong growth momentum in this sector [1] Challenges in Low-Altitude Economy - The low-altitude economy faces challenges in technology, infrastructure, regulatory mechanisms, and talent reserves, including issues with eVTOL battery energy density, autonomous navigation systems, and the need for better integration of low-altitude infrastructure with urban planning [2][3] Infrastructure Development - There is a need to build a supporting system that integrates physical facilities, digital infrastructure, and energy networks, including the construction of general airports and a low-altitude smart network for precise positioning and real-time obstacle avoidance [3] Technological Advancements - The industry is encouraged to implement a "bottleneck breakthrough plan" focusing on key areas such as batteries, flight control, and chips, promoting domestic alternatives and fostering collaboration between academia and industry [3] Market Expansion and New Business Models - The document suggests exploring new business models in the low-altitude economy, such as "shared flights" and low-altitude tourism, while also enhancing data services and establishing a low-altitude data trading platform [4] Talent Development - A multi-level talent development system is proposed, including the establishment of relevant academic programs, vocational training, and international talent recruitment to support the growth of the low-altitude economy [4]

Economic and Trade Developments - The first meeting of the China-US economic and trade consultation mechanism was held in London, where both sides reached a framework agreement to implement the consensus from the recent phone call between the two countries' leaders and to consolidate the outcomes of the Geneva talks [2] - The State Council of China held a meeting to deploy pilot measures for the replication and promotion of the China (Shanghai) Free Trade Pilot Zone, focusing on stabilizing expectations and activating demand in the real estate market [1][2] Consumer and Producer Price Index - In May, the Consumer Price Index (CPI) decreased by 0.2% month-on-month and by 0.1% year-on-year, with the core CPI (excluding food and energy) rising by 0.6% year-on-year, an increase of 0.1 percentage points from the previous month [3] - The Producer Price Index (PPI) fell by 0.4% month-on-month and by 3.3% year-on-year, with the decline attributed to international input factors and a temporary decrease in domestic energy and raw material prices [3] Financial and Monetary Data - As of the end of May, the broad money supply (M2) stood at 325.78 trillion yuan, growing by 7.9% year-on-year, while the narrow money supply (M1) was 108.91 trillion yuan, up by 2.3% year-on-year [6] - The People's Bank of China reported a net cash injection of 306.4 billion yuan in the first five months of the year [6] Automotive Industry Developments - Several major automotive companies, including China FAW, Dongfeng, and Geely, announced a unified payment term of 60 days for suppliers, reflecting a commitment to maintaining a healthy supply chain [8] - The launch of aluminum alloy futures trading on June 10, with a base price set at 18,365 yuan per ton, indicates a new development in the commodities market [8] Regulatory Changes - The State Administration for Market Regulation released a draft for public consultation on the supervision of live e-commerce, emphasizing the responsibility of live stream operators to avoid false or misleading commercial promotions [5] - New regulations for individual business registration will take effect on July 15, clarifying the registration process for individual businesses operating online [5]

Domestic News - The State-owned Assets Supervision and Administration Commission (SASAC) has launched a training program for talent in the new energy sector to support the green transformation of central enterprises [2] - The Central Committee and the State Council have issued opinions to support Shenzhen in deepening the reform and innovation of unmanned aerial vehicle flight management systems [3] - Shanghai's new energy vehicle ownership exceeded 1.512 million units in 2024, with pure electric vehicles accounting for 71% of the total [4] - The China Logistics and Purchasing Federation reported a recovery in the road logistics price index, which reached 105 points in May, reflecting a 0.06% month-on-month increase and a 2.02% year-on-year increase [5] - The China-Europe Railway Express has transported over 60% of its exports in high-value goods such as automotive parts, machinery, and electronics [6] International News - Toyota and Daimler Trucks plan to complete the merger of their truck divisions by April 2026 to enhance profitability and develop new technologies [7] - Vietnamese electric vehicle manufacturer VinFast reported a 296% year-on-year increase in vehicle deliveries in the first quarter, totaling 36,330 units [8] Corporate News - China FAW Group has implemented a payment term of 60 days for its subsidiaries to optimize procurement and financial settlement processes [11] - Dongfeng Motor Group announced a unified payment term of 60 days to support the healthy development of small and medium-sized enterprises [12] - GAC Group will maintain a supplier payment term of no more than 60 days to ensure efficient capital turnover in the supply chain [13] - Geely Auto Group has committed to a unified payment term of 60 days to enhance the efficiency of capital turnover in the supply chain [14] - Changan Automobile has announced a unified payment term of 60 days to support the stable flow of funds in the supply chain [15] - Seres Group stated it will adhere to a 60-day payment term as per contracts with suppliers to promote collaborative development in the industry [16] - Chery Automobile's chairman emphasized that competition in the automotive industry should focus on technology and products rather than creating noise and internal strife [17] - Xiaomi Auto has denied rumors of a fatal accident during advanced driving training and plans to take legal action against the spread of false information [18] - Cao Cao Mobility has passed the listing hearing at the Hong Kong Stock Exchange [19] - CATL has announced the mass production of a new 587Ah battery cell, achieving a 25% increase in energy density compared to the previous generation [20]