Group 1: Currency and Economic Trends - During the May Day holiday, the US dollar index strengthened while major currencies weakened against the dollar, but the RMB appreciated against the dollar [1] - On May 2, the offshore RMB reached 7.2790 against the dollar but fell nearly 1% the same day; by May 5, it appreciated to 7.1893, recovering losses since April 2 [1] - Analysts attribute the RMB's surge to four main factors: record high travel data during May Day, positive signals from US-China trade talks, increased allocation of RMB assets by risk-averse funds, and the declining trend of the US dollar index [1] Group 2: A-Share Market Performance - On April 30, the A-share market continued to consolidate, with mixed performance in the CSI A500 Index ETF (563880); some stocks like Xingsen Technology and Kelun Pharmaceutical hit the daily limit while others like BYD and ICBC saw declines [3] - The May Day holiday saw a significant increase in cross-regional travel, indicating a robust tourism sector [3] - The US non-farm payroll data for April exceeded expectations, alleviating investor concerns about the economy and tariff policies, which may impact the A-share market positively [3] Group 3: Macro Economic Indicators - The macroeconomic environment showed improvement, with Q1 2025 GDP reaching 31.88 trillion yuan, a year-on-year growth of 5.4% [4] - The CPI in March decreased by 0.1%, with a narrowing decline compared to the previous month, signaling positive consumer effects [4] Group 4: Policy and Market Outlook - China's policy space remains ample, with significant policies expected to be implemented in Q2, focusing on domestic demand to drive economic growth [6] - The central bank has indicated a return to "moderately loose" monetary policy, with expectations for potential rate cuts to maintain liquidity [7] - The CSI A500 Index ETF is positioned as a key investment vehicle for long-term capital, benefiting from the anticipated policy support and market conditions [7][8]