Domestic News - The Chinese government aims to improve water efficiency, with the water consumption per ten thousand GDP decreasing by 4.4% in 2024 compared to 2023 [1] - The Ministry of Water Resources reported a slight increase in total water consumption nationwide, while unconventional water supply continues to rise, optimizing the water source structure [1] - The State Council is advancing legislative work for 2025, focusing on various financial regulations and management guidelines [2] - China has established the world's largest internet-based electricity service system, with over 400 million registered users and an online processing rate exceeding 97% [2] - In the first five months of this year, China approved 468 new national standard substances, marking a 65.9% year-on-year increase [2] - The China Logistics and Purchasing Federation reported a warehouse index of 50.5% for May, indicating stable growth in the warehousing sector [3] - Chongqing has released a list of 42 low-altitude economic application scenarios and 40 capability lists, focusing on modern urban governance and low-altitude logistics [3] - Zhengzhou is enhancing consumer subsidies in key sectors like automobiles and home appliances, launching a gold and jewelry consumption subsidy program [3] International News - Emerging markets have seen record inflows of funds into stocks and bonds over the past eight weeks, with nearly $95 billion in cash inflows in the latest week [5] - The Bank of Thailand has revised its inflation forecast for the year to a range of 0.0% to 1.0% [5] - The Reserve Bank of India unexpectedly cut interest rates by 50 basis points, marking the third consecutive rate cut, with a total reduction of 100 basis points since 2025 [5] - The Swiss National Bank stated it does not aim to prevent trade balance adjustments or gain unfair competitive advantages for the Swiss economy [5]

Group 1 - China will approve compliant rare earth export license applications and urges the US to lift all trade restrictions, including the 301 tariffs [2][2] - The Ministry of Commerce will actively cooperate with relevant departments to address the "involution" competition in the automotive industry, promoting fair market order [2][2] - The National Bureau of Statistics announced the establishment of 10 national data element comprehensive pilot zones to enhance the integration of the real economy and digital economy [2][2] Group 2 - In May, retail sales of new energy vehicles in China reached 1.056 million units, a year-on-year increase of 30%, with a market penetration rate of 53.5% [2][2] - The Hong Kong stock market's total market capitalization reached HKD 40.9 trillion by the end of May 2025, a year-on-year increase of 24% [2][2] - A total of 439 A-share companies conducted buybacks in the past month, with a total amount of CNY 26.689 billion, a year-on-year increase of 51.83% [2][2] Group 3 - The People's Bank of China will conduct a 1 trillion yuan reverse repurchase operation with a term of 3 months, enhancing policy transparency [2][2] - The China Securities Index Company will officially launch the CSI Haitong Asset Management Technology Theme Bond Index and the CSI Haitong Asset Management Green Theme Bond Index [2][2] - The A-share listed companies are entering a concentrated phase for profit distribution, with nearly 1,300 companies executing their 2024 annual distribution plans [2][2]