Group 1: Stablecoins and Financial Assets - The global stablecoin issuance has exceeded $235 billion as of May 2025, surpassing Visa's transaction volume over 40 years in just 5 years [1] - The total financial asset scale formed by stablecoins is conservatively estimated at $14 trillion, with some estimates reaching $27-28 trillion [1] - It is predicted that all traditional financial assets will be on-chain within the next decade, leading to significant changes in the financial system's middle and back office operations in the next 5 to 8 years [1] Group 2: Manufacturing and Economic Indicators - The manufacturing Purchasing Managers' Index (PMI) for June is reported at 49.7%, marking a continuous increase for two months [2] - The new orders index has returned to the expansion zone at 50.2%, indicating a recovery in manufacturing operations [2] - The non-manufacturing business activity index for June is at 50.5%, showing continued expansion in the non-manufacturing sector [8] Group 3: Tax Incentives for Foreign Investors - A new tax incentive policy allows foreign investors to enjoy a 10% tax credit on profits reinvested in direct investments in China from January 1, 2025, to December 31, 2028 [3] - The policy allows for the carryover of any unused tax credits to future years [3] Group 4: Technological Innovations in Pharmaceuticals - Researchers have developed a method to transform yeast into "micro-factories" for producing therapeutic peptides, potentially accelerating drug development [4] Group 5: Advancements in High-end Nonferrous Metals - China's first "High-end Nonferrous Metal Materials Innovation Consortium" has made breakthroughs in key technologies, including those related to the C919 aircraft [5] Group 6: Economic Development Plans in Hengqin - The Hengqin Guangdong-Macao Deep Cooperation Zone has released a development plan aiming for a highly coordinated economic system with Macao by 2029 [6] Group 7: Supply Chain Innovations in Anhui - Anhui province is promoting the integration of advanced manufacturing and modern service industries, encouraging the development of intelligent logistics and supply chain management systems [9] Group 8: Global Server Market Growth - The global server market is projected to reach $366 billion by 2025, with a year-on-year growth of 44.6% [10] - The x86 server market is expected to grow by 39.9%, while non-x86 servers will see a growth of 63.7% [10] Group 9: Apple Vision Product Launches - Apple is expected to release multiple products in the Apple Vision series and smart glasses starting in 2027, with an anticipated shipment of 3 to 5 million units for the first product [11]

Core Viewpoint - The rise of stablecoins is significantly disrupting the traditional currency landscape, with a projected total financial asset scale reaching $14 trillion, and some estimates suggesting it could be as high as $27-28 trillion by 2025 [1] Group 1: Stablecoin Market Size and Growth - As of May 2025, the global issuance of stablecoins is expected to exceed $235 billion, surpassing Visa's transaction volume achieved over 40 years [1] - Stablecoins are projected to represent a narrow monetary base (M0) of over $250 billion, indicating their growing importance in the financial system [1] Group 2: Future Predictions and Market Transformation - Over the next decade, it is anticipated that all traditional financial assets will transition to blockchain technology, which is essential for overcoming the limitations of traditional settlement models [1] - A significant transformation in the back-end operations of the entire financial system is expected within the next 5 to 8 years [1]