Economic Overview - In August, the industrial added value increased by 5.2% year-on-year, with mining growing by 5.1%, manufacturing by 5.7%, and electricity, heat, gas, and water production and supply by 2.4% [5] - Among economic types, state-controlled enterprises saw a 4.7% increase, joint-stock enterprises grew by 6.0%, foreign and Hong Kong, Macao, and Taiwan-invested enterprises increased by 2.3%, and private enterprises grew by 4.6% [5] Industry Performance - Out of 41 major industries, 31 maintained year-on-year growth in added value in August. Notable growth was seen in coal mining and washing (5.1%), oil and gas extraction (4.7%), and chemical raw materials and products manufacturing (7.6%) [2][5] - The automotive manufacturing sector experienced an 8.4% increase, while the railway, shipbuilding, aerospace, and other transportation equipment manufacturing grew by 12.0% [2][5] Product Output - In August, among 623 industrial products, 319 saw year-on-year output growth. Steel production reached 12.277 million tons, up 9.7%, while cement production fell by 6.2% to 14.802 million tons [3][5] - The output of new energy vehicles surged by 22.7% to 1.333 million units, contributing to a total automotive production of 2.752 million units, which is a 10.5% increase [3][5] Sales and Exports - The sales rate of products from large-scale industrial enterprises was 96.6%, a decrease of 0.1 percentage points year-on-year. The export delivery value reached 1.3029 trillion yuan, reflecting a nominal decline of 0.4% [4][5]

Economic Overview - In August, the national economy maintained overall stability with a steady growth trend, supported by strong leadership and effective macroeconomic policies [2][10] - The industrial production showed a year-on-year increase of 5.2% in August, with a month-on-month growth of 0.37% [3][18] - The service sector's production index grew by 5.6% year-on-year in August, indicating a positive trend in modern service industries [4][18] Industrial Production - The industrial value-added for large-scale enterprises increased by 6.2% from January to August, with manufacturing and high-tech manufacturing sectors growing by 5.7% and 9.3% respectively [3][18] - Notable product growth included 3D printing equipment (40.4%), new energy vehicles (22.7%), and industrial robots (14.4%) [3][18] Service Sector - The service industry saw a production index increase of 5.9% from January to August, with significant growth in information transmission, software, and financial services [4][18] - The business activity index for the service sector was at 50.5 in August, indicating expansion [4][18] Retail Sales - The total retail sales of consumer goods reached 39,668 billion yuan in August, a year-on-year increase of 3.4% [5][18] - Online retail sales amounted to 99,828 billion yuan from January to August, growing by 9.6% year-on-year [5][18] Fixed Asset Investment - Fixed asset investment (excluding rural households) was 326,111 billion yuan from January to August, with a year-on-year growth of 0.5% [6][18] - Manufacturing investment increased by 5.1%, while real estate development investment saw a decline of 12.9% [6][18] Trade and Exports - The total value of goods imports and exports reached 38,744 billion yuan in August, with exports growing by 4.8% [7][18] - From January to August, the total trade value was 295,696 billion yuan, reflecting a year-on-year increase of 3.5% [7][18] Employment - The urban surveyed unemployment rate was 5.3% in August, showing a slight increase from the previous month [8][18] - The average working hours for employees were reported at 48.5 hours per week [8][18] Price Trends - The Consumer Price Index (CPI) decreased by 0.4% year-on-year in August, with food prices dropping by 2.5% [9][19] - The Producer Price Index (PPI) for industrial producers fell by 2.9% year-on-year, indicating a narrowing decline [9][19]

2025年1—8月份，全国固定资产投资（不含农户）326111亿元，同比增长0.5%（按可比口径计算，详见附注7）。其中，民间固定资产投资同比下降2.3%。 从环比看，8月份固定资产投资（不含农户）下降0.20%。 分产业看，第一产业投资6461亿元，同比增长5.5%；第二产业投资118246亿元，增长7.6%；第三产业投资201404亿元，下降3.4%。 第二产业中，工业投资同比增长7.7%。其中，采矿业投资增长3.0%，制造业投资增长5.1%，电力、热力、燃气及水生产和供应业投资增长18.8%。 第三产业中，基础设施投资（不含电力、热力、燃气及水生产和供应业）同比增长2.0%。其中，水上运输业投资增长15.9%，水利管理业投资增长7.4%，铁 路运输业投资增长4.5%。 分地区看，东部地区投资同比下降3.5%，中部地区投资增长2.5%，西部地区投资增长2.3%，东北地区投资下降6.0%。 分登记注册类型看，内资企业固定资产投资同比增长0.5%，港澳台企业固定资产投资增长2.3%，外商企业固定资产投资下降15.4%。 2025年1—8月份固定资产投资（不含农户）主要数据 | | 指 标 同比增长（%） | ...

Core Viewpoint - A safety accident occurred at the construction site of Dongsheng Mining, a subsidiary of Shengda Resources, resulting in the death of a rock drill worker. The company has initiated emergency measures and is cooperating with local authorities for investigation and safety improvements [2][4][12]. Summary by Sections Accident Details - On September 11, a rock drill worker from the contractor Zhejiang Zhongye Construction Group was killed due to a roof collapse in a previously supported tunnel. The incident occurred approximately 7 meters from the working face, where a section of rock suddenly fell [4]. - Shengda Resources expressed condolences to the victim's family and emphasized the importance of safety education and hazard identification to prevent future incidents [4]. Company Background - Dongsheng Mining is a secondary subsidiary of Shengda Resources, which indirectly holds shares through Inner Mongolia Yindu Mining. The company has a minority shareholder holding ratio of 30% [9][10]. - Shengda Resources acquired 70% of Dongsheng Mining in 2017 to enhance its resource reserves and profit potential, with the mining area being rich in silver and other metals [11][12]. Financial Performance - In 2024, Shengda Resources reported a revenue of 2.013 billion yuan, a decrease of 10.66% year-on-year, while net profit attributable to shareholders increased by 163.56% to 390 million yuan, primarily due to rising metal prices [15]. - For the first half of 2025, revenue grew by 6.34% to 906 million yuan, but net profit decreased by 3.32% to approximately 70.1 million yuan, attributed to increased taxes and operational challenges [15]. Market Performance - Despite fluctuations in financial performance, Shengda Resources' stock price has surged over 80% this year, closing at 21.63 yuan per share on September 12, with a total market capitalization of 14.9 billion yuan [16].

据安哥拉国家统计局公布数据，今年第二季度，安哥拉经济同比增长1.08%， 石油业下滑8.65%。非石油行业表现较为突出，其中通信业增长38.12%，采矿业增 长6.79%，制造业增长5.15%，农牧林业增长3.14%，渔业和水产养殖增长3.3%。 （原标题：2025年第二季度安哥拉经济增长1.08%） ...

Economic Overview - The UK's GDP growth for July was flat at 0.0% month-on-month, significantly slowing from June's 0.4% increase, with a year-on-year growth rate of 1.4%, slightly below the market expectation of 1.5% [1][4] - The economic structure shows a pattern of "moderate support from services, continuous expansion in construction, significant drag from industry, and pressure on external demand" [4] Sector Performance - The services sector experienced a slight growth of 0.1%, supported mainly by transportation and storage (1.4% growth) and health and social work (0.4% growth), while the information and communication sector declined by 0.7% [2] - The construction sector demonstrated resilience with a month-on-month output increase of 0.2% and a year-on-year growth rate accelerating to 2.4%, surpassing the market expectation of 1.9% [2] - Industrial production faced significant downward pressure, with a month-on-month decline of 0.9%, reversing the previous month's 0.7% increase, and manufacturing output fell by 1.3%, marking the steepest contraction since July of the previous year [2] Trade Dynamics - The trade deficit widened to £5.26 billion in July, the largest since February, with exports rising by 2.3% to £76.45 billion and imports increasing by 2.4% to £81.71 billion, reaching a historical high [3] - Notably, goods exports grew by 6.6%, with a 4.6% increase in exports to the EU, driven by increased aircraft exports to Germany, and an 8.5% rise in exports to non-EU countries [3] - Service exports decreased by 0.4% to £45.83 billion, hitting a three-month low, while goods imports reached a 13-month high at £50.89 billion, primarily due to increased imports of ships from South Korea and aircraft and cars from Germany [3]

Core Viewpoint - Jinling Mining (000655) has approved a proposal for additional daily related transactions for the year 2025, increasing the estimated total from 921.175 million yuan to 971.375 million yuan due to new transactions with related parties [1] Group 1: Transaction Details - The company expects to engage in transactions totaling 50.2 million yuan with new related parties, Shandong Steel Group International Trade Co., Ltd. and Shandong Jinling Iron Ore Co., Ltd. [1] - The new transaction categories include leasing and procurement of raw materials, with pricing following market principles [1] Group 2: Financial Health and Compliance - The financial status of the related parties is reported to be good, indicating their capability to fulfill obligations [1] - The transactions are characterized as normal business activities that are beneficial for cost reduction and do not affect the company's independence or harm shareholder interests [1] - No shareholder meeting or departmental approval is required for these transactions [1]

Core Insights - During the "14th Five-Year Plan" period, China has discovered 10 large oil fields and 19 large gas fields, significantly enhancing its natural resource base [1][7]. Resource Monitoring and Management - China has conducted comprehensive surveys and monitoring of nine types of natural resources, ensuring the protection of 1.94 billion acres of arable land, an increase of 28 million acres since 2020 [2]. - The forest coverage rate has reached 25.09%, up approximately 2 percentage points from 2020, making China the fastest-growing country in terms of greening [2]. Marine Economy Development - China's marine production value has surpassed 10 trillion yuan, with a 34% increase compared to the end of the "13th Five-Year Plan," accounting for 7.8% of the national GDP [4]. - The marine economy has become a crucial driver for stable economic growth, with marine oil and gas contributing over 70% of the domestic oil increment in 2024 [4][5]. Mining and Resource Exploration - A new round of mineral exploration has been initiated, with nearly 450 billion yuan invested, leading to significant discoveries in oil, gas, and uranium resources [7]. - Major breakthroughs in energy resources include the discovery of large oil and gas reserves, with the Ordos Basin alone adding over 300 billion cubic meters of geological reserves [7][8]. Strategic Emerging Industries - China has made significant advancements in lithium mining, discovering a major lithium mineral belt spanning 2,800 kilometers across four provinces, which is critical for the electric vehicle industry [8].

（原标题：刚果（金）成立手工采矿监管战略委员会） 9月6日，据刚果（金）当地媒体mediacongo报道，矿业部长卡班巴召开会议，宣布成立战略委员 会，以加强对手工采矿活动的监管。该委员会成员主要来自刚果矿业总公司、钴业总公司、手工及小规 模矿业开采管理处、矿业地籍局、战略矿产市场监管局，并包括多名技术与法律专家。卡在会上表示， 委员会的首要任务将聚焦于手工采矿的规范化、可追溯性、安全保障和负责任治理。 该举措预期达成可具体量化的成果，包括绘制可行的手工采矿开采区域地图、制定合作协议、出具 含强制性建议的审计报告，以及提交关于战略矿产市场监管局运作情况的最终报告。 举措同时体现了刚果（金）政府建设透明、包容与可持续矿业部门的决心，以及保障和提升手工采 矿工人的工作价值，改善其生活与收入水平的愿望，营造可信任的、有利于国内外投资者的营商环境， 最终建立能够造福国家与刚果（金）人民的互利共赢合作伙伴关系。 本次会议明确了各方职责，并审议了以下优先事项：推进矿产流通体系化建设、打击欺诈行为、实 现手采矿规范化管理，以及将战略矿产市场监管局纳入整体监管框架。会议同时确定了具体的工作日 程，并成立了专项工作组。 ...

Core Insights - Brazil's exports to the US dropped significantly by 18.5% in August, amounting to a loss of over 600 million USD, affecting key products like sugar, iron ore, and aircraft [1] - In contrast, Brazil's exports to countries such as China, India, and Mexico surged, with the highest increase reaching 58% [1] - The shift in Brazil's export strategy raises questions about the effectiveness of US tariffs and suggests a potential change in the global trade landscape [1] Summary by Categories Export Performance - Brazil's exports to the US fell by 18.5% in August, equating to a decrease of over 600 million USD [1] - Key products impacted include sugar, iron ore, and aircraft, which were previously strong sellers in the US market [1] Market Shifts - Exports to China, India, and Mexico saw a significant increase, with the highest growth rate at 58% [1] - This indicates a strategic pivot by Brazil towards other markets in response to US tariffs [1] Global Trade Implications - The rapid adjustment in Brazil's export focus may signal a broader shift in global trade dynamics, potentially accelerating the "de-Americanization" of supply chains [1] - The ongoing tariff wars raise questions about who the real winners are, as high tariffs may isolate the US further [1]