1. Report Industry Investment Ratings - Iron ore: Oscillating with a bullish bias [2] - Coking coal and coke: Oscillating with a bullish bias [2] - Rebar and rolled steel: Oscillating [2] - Glass: Rebounding [2] - Soda ash: Adjusting [2] - CSI 50: Oscillating [2] - CSI 300: Oscillating [2] - CSI 500: Rebounding [4] - CSI 1000: Rebounding [4] - 2 - year Treasury bond: Oscillating [4] - 5 - year Treasury bond: Oscillating [4] - 10 - year Treasury bond: Rebounding [4] - Gold: High - level oscillation [4] - Silver: High - level oscillation [4] - Logs: Range - bound oscillation [6] - Pulp: Bottom consolidation [6] - Offset paper: Bearish outlook [6] - Edible oils: Wide - range oscillation [5] - Soybean meal: Oscillating with a bearish bias [5] - Rapeseed meal: Oscillating with a bearish bias [5] - Soybean No. 2: Oscillating with a bearish bias [7] - Soybean No. 1: Oscillating with a bearish bias [7] - Live pigs: Oscillating with a bullish bias [7] - Rubber: Oscillating [10] - PX: On the sidelines [10] - PTA: Oscillating [10] - MEG: On the sidelines [10] - PR: On the sidelines [10] - PF: On the sidelines [10] 2. Core Views - The Fed's interest rate cut has landed as expected, and after the National Day, trading focus will gradually shift to reality. Different commodities have different supply - demand situations and price trends [2][4]. - Gold's pricing mechanism is shifting, and factors such as central bank gold purchases, geopolitical risks, and the US economic situation affect its price [4]. - Various factors such as supply - demand, policies, and seasonal factors impact the prices of commodities in different industries [2][5][6][7][10]. 3. Summary by Related Catalogs Ferrous Metals - Iron ore: Overseas supply decreased slightly but remained at a high level in recent years. Port arrivals increased, demand rebounded, and the 2601 contract adjusted at a high level [2]. - Coking coal and coke: As the double - festival replenishment period approaches, procurement enthusiasm increased. Supply may be weaker than last year, and the futures market rebounded [2]. - Rebar and rolled steel: Data met expectations, production increased slightly, demand was lackluster, and the 2601 contract oscillated with a bullish bias [2]. - Glass: Enterprises raised prices, short - term price increases may stimulate downstream replenishment, and demand improved slightly, but the long - term real estate adjustment continued [2]. Financial Products - Stock index futures/options: Different stock indices showed different trends, with some sectors having capital inflows and others outflows [2]. - Treasury bonds: Yields and market interest rates fluctuated, and the market was affected by factors such as central bank operations [4]. - Gold and silver: Gold's pricing mechanism is changing, and factors such as geopolitical risks, the US economic situation, and central bank gold purchases affect their prices [4]. Light Industry - Logs: Supply tightened, inventory decreased, cost support weakened, and prices were expected to oscillate in a range [6]. - Pulp: Spot prices were divided, cost support increased, but demand was weak, and prices were expected to consolidate at the bottom [6]. - Offset paper: Production was stable, demand was weak during the off - season, and the industry was bearish [6]. Oils and Fats - Oils: Palm oil inventory increased, production decreased due to disasters, and demand from India increased. Domestic oil supply was abundant, and prices were expected to oscillate widely [5]. - Meal: US soybean production increased, export demand was weak, and domestic supply was abundant, with prices expected to oscillate with a bearish bias [5]. Agricultural Products - Live pigs: Average transaction weight increased, supply was abundant, demand was weak, and prices were expected to oscillate weakly in the short term [7]. Soft Commodities - Rubber: Supply pressure decreased in some areas, demand increased slightly, inventory decreased, and prices were expected to oscillate widely [10]. - PX, PTA, MEG, PR, PF: PX had supply risks, PTA's cost support might weaken, and their prices followed cost fluctuations. MEG had supply pressure, and PR and PF were expected to trade flatly [10].

何亚东介绍，立场文件指出，中国是世界上最大的发展中国家，具有享受世贸组织特殊和差别待遇的当 然制度性权利。 据新华社，当地时间9月23日，国务院总理李强在纽约联合国总部出席由中方主办的全球发展倡议高级 别会议并致辞。李强强调，中国作为负责任的发展中大国，在世贸组织当前和未来谈判中将不寻求新的 特殊和差别待遇。 在9月25日召开的商务部例行新闻发布会上，商务部新闻发言人何亚东表示，9月24日，中方向世贸组织 （WTO）提交了中国关于世贸组织特殊和差别待遇问题的立场文件，对这一重要的立场宣示进行了详 细阐释。 何亚东介绍，立场文件指出，中国是世界上最大的发展中国家，具有享受世贸组织特殊和差别待遇的当 然制度性权利。当前，个别国家肆意加征关税，给多边贸易体制带来前所未有的冲击。广大发展中成员 利益受到严重损害。中国在世贸组织当前和未来谈判中不寻求新的特殊和差别待遇，有助于推动世贸组 织改革，更好地落实全球发展倡议和实现联合国2030年可持续发展目标。 根据商务部消息，中国以发展中成员身份加入世贸组织。同时，在加入谈判中，中国秉持实事求是的原 则，承担力所能及的义务，最终享受到的特殊与差别待遇少于一般发展中成员。例如 ...

Core Points - The WTO Fisheries Subsidies Agreement officially came into effect on September 15, marking a significant event in multilateral trade and global fisheries governance [1][2] - The agreement establishes binding multilateral disciplines on subsidies, requiring members to enhance transparency in fisheries subsidies and management policies, and improve fisheries enforcement and sustainable resource assessment capabilities [2] Group 1 - The agreement is a collective action by WTO members, including China, to uphold the relevance and authority of the WTO amid challenges from unilateralism, thereby boosting international confidence in the organization [1] - China, as a major global marine fisheries nation, has actively advocated for and practiced sustainable fisheries development, being one of the first major members to complete the ratification process for the agreement [2] Group 2 - The implementation of the agreement is expected to promote sustainable development in global fisheries and enhance members' capabilities for long-term scientific conservation and sustainable development of fisheries resources [2] - China aims to fulfill its obligations under the agreement and collaborate with other WTO members to maintain the sustainable development of global marine resources, contributing to the achievement of the United Nations' 2030 Sustainable Development Goals [2]

Core Points - The WTO Fisheries Subsidies Agreement officially came into effect on September 15, marking a significant milestone for global fisheries governance and the multilateral trading system [1] - The agreement, reached during the 12th WTO Ministerial Conference in June 2022, is the longest-negotiated multilateral agreement in WTO history and reflects collective action among WTO members, including China, to uphold multilateral commitments [1] - The implementation of the agreement is expected to enhance the sustainability of global fisheries, improve transparency in fisheries subsidies and management policies, and strengthen the capacity for sustainable resource assessment [1] Group 1 - The Fisheries Subsidies Agreement is the first WTO agreement aimed at achieving environmental sustainability goals [1] - The agreement establishes binding multilateral disciplines on subsidies, requiring members to enhance transparency and improve fisheries enforcement [1] - China's proactive role as a major global marine fisheries nation and its early ratification of the agreement demonstrate its commitment to sustainable fisheries development [1] Group 2 - The agreement's implementation is anticipated to boost confidence in the WTO amid challenges posed by unilateralism [1] - China aims to fulfill its obligations under the agreement and collaborate with other WTO members to maintain sustainable development of global marine resources [1] - The agreement aligns with the United Nations' 2030 Sustainable Development Goals, emphasizing the importance of international cooperation in fisheries governance [1]

人民网罗马9月17日电 （记者谢亚宏、郑彬）中国驻意大利使馆与中国常驻联合国粮农机构代表团 16日联合举办国庆76周年招待会并举行大型图片展。意副总理萨尔维尼、第一副外长齐里耶利、外交部 秘书长瓜利里亚、联合国粮农组织总干事屈冬玉，以及各国驻意使节和国际组织高官，旅意华侨华人、 中资机构和留学生代表等600余人出席。 中国驻意使馆临时代办李小勇在致辞中回顾新中国成立76年来取得的辉煌成就和中意建交55年来取 得的丰硕合作成果，宣介全球治理倡议，强调中方愿同意方深化互利合作，共促世界和平稳定繁荣。中 国常驻联合国粮农机构代表张陆彪大使表示，中方坚定支持真正的多边主义，愿同各方携手促进实现联 合国2030年可持续发展目标，为全球粮食安全贡献更大力量。 萨尔维尼热烈祝贺中国国庆，高度评价中国发展成就，表示期待同中方一道推动双边关系取得更大 发展。 ...

Core Points - The first Africa Water Investment Summit was held in Cape Town, South Africa, aiming to promote investment in water resources and sanitation facilities across Africa [1][2] - The summit showcased 80 key water investment projects from 38 countries and emphasized the need for increased investment and improved governance in the water sector [2][4] - The African Water Investment Program aims to mobilize $30 billion by 2030 for cross-border water resource management and improving access to clean drinking water and sanitation [2][7] Investment Initiatives - The African Water Investment Program has raised approximately $7.5 billion since its inception, benefiting 2.5 million people through various water supply and sanitation projects in countries like Zambia, Tanzania, and Zimbabwe [2][4] - Zambia's Water Investment Plan aims to raise about $5.7 billion by 2030 to support urban and rural water supply and irrigation infrastructure [3] - Namibia is aligning its national development plans with the African Water Investment Program to address challenges like extreme drought [3] Challenges and Needs - Over 300 million Africans lack access to clean drinking water, and over 700 million lack adequate sanitation facilities, with significant economic losses due to water-related issues [4][7] - Africa requires an additional $30 billion annually to meet sustainable development goals in water management, highlighting a significant funding gap [7] Role of Chinese Enterprises - Chinese companies are actively participating in Africa's water governance, implementing projects that improve water supply and sanitation [8][9] - Projects like the Lesotho Highlands Water Project and the Senegal rural well-drilling initiative are examples of Chinese investment addressing water scarcity in the region [8][9] - These initiatives not only provide clean water but also contribute to local economies by creating jobs and enhancing infrastructure [9]

Core Points - The first Africa Water Investment Summit was held in Cape Town, South Africa, aiming to promote investment in water resources and sanitation facilities across Africa [1] - The summit gathered around 2,000 representatives from various governments, international organizations, and the private sector to discuss investment projects and financing methods [1][2] - South African President Ramaphosa emphasized the importance of water accessibility and called for collaboration to transform water resources into drivers of economic transformation and innovation [1][2] Investment Plans - The summit committed to expanding investment scale, improving governance, and enhancing accountability in the water sector [2] - A global water investment outlook committee was announced to upgrade the Africa Water Investment Program into a global platform, aiming to coordinate fragmented water investments [2] - The Africa Water Investment Program aims to mobilize $30 billion by 2030 for cross-border water resource management and improving access to clean drinking water and sanitation [2] National Initiatives - African Union member states are integrating the Africa Water Investment Program's indicators into national policies and investment frameworks [3] - Zambia launched its "Zambia Water Investment Program" in 2022, targeting $5.7 billion in funding by 2030 for urban and rural water supply and irrigation projects [3] Water Governance Challenges - Over 300 million Africans lack access to clean drinking water, and over 700 million lack adequate sanitation facilities [4] - Sub-Saharan Africa loses 5% of its GDP annually due to water scarcity, pollution, and poor sanitation [4] - South Africa's National Water Resource Strategy emphasizes sustainable water management and equitable distribution in response to climate change [4] Funding Gaps - Africa invests between $10 billion to $19 billion annually in water governance, but an additional $30 billion is needed each year to meet sustainable development goals [5] - The Africa Water Investment Program calls for reforms in water governance systems and mobilization of domestic and global financing to fill the funding gap [5] Role of Chinese Enterprises - Chinese companies are actively participating in Africa's water governance, implementing various projects to improve water access [6] - Notable projects include the Lesotho Highlands Water Project and rural well-drilling initiatives in Senegal, which significantly enhance water supply for local populations [6][7] - The collaboration between China and Africa in water governance is seen as having vast potential to address water scarcity and improve public health [7]