Core Insights - Lhasa's GDP for the first three quarters reached 75.391 billion yuan, with a year-on-year growth of 7.1%, maintaining the same growth rate as the overall region [1] Economic Performance - The primary industry added value was 1.482 billion yuan, growing by 9.0% year-on-year [1] - The secondary industry added value was 34.097 billion yuan, with a year-on-year increase of 8.8% [1] - The tertiary industry added value was 39.812 billion yuan, showing a year-on-year growth of 6.0% [1] Sector Contributions - Agricultural production showed stable growth, with total output value in agriculture, forestry, animal husbandry, and fishery reaching 2.721 billion yuan, up by 8.0% year-on-year [1] - The industrial sector maintained rapid growth, with the added value of above-scale industries increasing by 16.7%, accelerating by 4.2 percentage points compared to the same period last year, ranking third among all cities in the region [1] - The consumer market developed steadily, with total retail sales of consumer goods reaching 39.069 billion yuan, reflecting a year-on-year growth of 4.0% [1]

Core Insights - The Purchasing Managers' Index (PMI) for China's manufacturing sector in October is reported at 49%, a decrease of 0.8 percentage points from the previous month, influenced by seasonal factors and external conditions [1][2] - Despite the decline in PMI, new momentum and consumer goods manufacturing are showing steady growth, with key sectors like equipment manufacturing and high-tech manufacturing remaining in the expansion zone [2][4] Manufacturing Sector - The equipment manufacturing price index reached a new high since June 2024, while the high-tech manufacturing price index hit a new high since 2025, indicating positive price changes in the manufacturing sector [4] - The production index and new orders index for key manufacturing sectors are operating around 51%, reflecting a stable expansion [2] Non-Manufacturing Sector - The non-manufacturing business activity index for October is at 50.1%, a slight increase of 0.1 percentage points from the previous month, maintaining levels above 50 since 2025 [7] - The service sector shows strong performance, particularly in contact-based services related to travel, shopping, and entertainment, with indices for railway and air transport exceeding 60% [6] Investment and Economic Outlook - There are signs of accelerated construction activities related to infrastructure investment, with the civil engineering business activity index rising above 55%, and new orders index increasing to over 49% [9] - The business activity expectation index for non-manufacturing is at 56.1%, indicating a positive outlook for the sector, supported by fiscal and monetary policy collaboration [9]

Economic Indicators - In May, the economy maintained steady growth as indicated by VAT invoice data [1] - From January to May, the national railway transported 1.86 billion passengers [1] - The summer grain wheat purchase volume exceeded 17 million tons [1] Real Estate Policy - Guangzhou plans to optimize real estate policies by fully canceling purchase, sale, and price restrictions [1] Infrastructure and Development - The Three Gorges Reservoir's water level has dropped to 150 meters, officially entering flood prevention mode [1] - The Indonesian president announced the initiation of the North Java "super sea dam" construction project, expected to be approximately 500 kilometers long [5] Cultural Events - The 27th Shanghai International Film Festival has opened [3]