Economic Overview - In May, under the strong leadership of the Central Committee, the national economy maintained stable operation, with steady growth in production and demand, and overall employment stability [2][10] - The economic performance reflects resilience and vitality, although external uncertainties and the need to enhance domestic demand remain challenges [10] Industrial Production - In May, the industrial added value of enterprises above designated size increased by 5.8% year-on-year and 0.61% month-on-month [3] - The equipment manufacturing industry and high-tech manufacturing industry saw significant growth, with increases of 9.0% and 8.6% respectively, outpacing the overall industrial growth by 3.2 and 2.8 percentage points [3] - The manufacturing purchasing managers' index was at 49.5, up 0.5 percentage points from the previous month [3] Service Sector - The service production index grew by 6.2% year-on-year in May, accelerating by 0.2 percentage points from the previous month [4] - Key sectors such as information transmission, software, and IT services saw growth rates of 11.2%, 8.9%, and 8.4% respectively, exceeding the overall service production index growth [4] Consumer Market - The total retail sales of consumer goods reached 41,326 billion yuan in May, marking a year-on-year increase of 6.4% [5] - The sales of home appliances and communication equipment surged by 53.0% and 33.0% respectively, driven by the "replace old with new" policy [5] - Online retail sales amounted to 60,402 billion yuan, growing by 8.5% year-on-year, with physical goods accounting for 24.5% of total retail sales [5] Fixed Asset Investment - From January to May, fixed asset investment (excluding rural households) totaled 191,947 billion yuan, up 3.7% year-on-year [6] - Manufacturing investment grew by 8.5%, while real estate development investment declined by 10.7% [6] Trade Performance - In May, the total value of goods imports and exports reached 38,098 billion yuan, a year-on-year increase of 2.7% [7] - Exports rose by 6.3% to 22,767 billion yuan, while imports fell by 2.1% to 15,331 billion yuan [7] Employment Situation - The urban surveyed unemployment rate was 5.0% in May, a decrease of 0.1 percentage points from the previous month [8] - The average weekly working hours for employees were reported at 48.5 hours [8] Price Trends - The Consumer Price Index (CPI) fell by 0.1% year-on-year in May, with core CPI rising by 0.6% [9] - The Producer Price Index (PPI) for industrial producers decreased by 3.3% year-on-year [9]

Group 1 - In May, Guangdong Province had the highest number of newly registered business entities, totaling 270,167, a decrease of 52,000 from the previous month [2] - The top ten provinces for new business registrations included Hubei, Henan, Zhejiang, Shandong, Jiangsu, Hunan, Hebei, Fujian, and Sichuan [2][3] - Overall, the top ten provinces accounted for over 60% of the national new business registrations [3] Group 2 - Hubei Province recorded the fastest year-on-year growth in new business registrations at 8.33%, although this was a significant drop from the previous month's 26.10% [5] - Only six provinces experienced positive year-on-year growth in May, with the top ten growth rankings including Hubei, Hunan, Liaoning, Beijing, Shaanxi, Fujian, Shandong, Guangdong, Guangxi, and Zhejiang [5] Group 3 - The retail sector had the highest number of new business registrations in May, with 191,800 new entities, representing a year-on-year growth of 17.19% [7] - Other sectors with significant new registrations included wholesale, business services, technology promotion and application services, software and information technology services, construction and decoration, cultural arts, agriculture, professional technical services, and real estate [7] - The technology promotion and application services sector saw the fastest growth at 25.83% year-on-year [7] Group 4 - In May, the capital market financing demand decreased, with a total of 260 financing events and a total financing scale of 20.578 billion [9] - The manufacturing sector had the highest financing scale at 11.752 billion, accounting for 57.11% of the total [9] - The electricity, gas, and water production and supply sector received 3.217 billion, making up 15.63% of the total financing [9] Group 5 - In terms of regional financing, economically developed southeastern coastal provinces led in financing scale [10] - Jiangsu had 44 financing events with a total scale of 3.693 billion, while Shanghai achieved a financing scale of 3.042 billion [11] - The financing rounds showed that public offerings accounted for 24.22% of the total financing, with D-round financing at 21.59% and A-round financing at 14.26% [11]

Core Viewpoint - Jiangsu Cable intends to reappoint Zhongxinghua Accounting Firm as its auditor for the 2025 annual report and internal control audit, emphasizing the firm's qualifications and experience in providing audit services for listed companies [1][5]. Group 1: Accounting Firm Information - The proposed accounting firm is Zhongxinghua Accounting Firm (Special General Partnership), established in 1993, with a registered address in Beijing [1]. - As of the end of the last fiscal year, Zhongxinghua had 199 partners and 1,052 registered accountants, with 522 having signed audit reports for securities services [1]. - The firm's audited total revenue for the last year was 2,033.38 million yuan, with audit business revenue of 1,547.20 million yuan and securities business revenue of 332.20 million yuan [1][2]. - Zhongxinghua served 169 listed company clients in the last year, with major industries including manufacturing, information transmission, software and IT services, wholesale and retail, real estate, and mining [1]. Group 2: Audit Fees and Procedures - The total audit fee for Jiangsu Cable in 2025 is set at 1.91 million yuan (including tax), with 1.70 million yuan for the financial statement audit and 0.22 million yuan for the internal control audit [4]. - The pricing principle for audit fees is based on the responsibilities and professional services required, considering the experience and level of participating staff and the time invested [5]. - The proposal to reappoint the accounting firm was approved by the company's audit committee and the board of directors, with a unanimous vote of 9 in favor [5].

Group 1: Consumer Sector Performance - The consumer sector in A-shares is actively leading the market, with companies like Pop Mart and Mixue Group reaching historical highs in stock prices, with Pop Mart's stock price at 231.60 HKD and a market cap exceeding 310 billion HKD, while Mixue Group's stock price is at 571 HKD with a market cap surpassing 210 billion HKD [1][1] - The report highlights the strong performance of various segments within the consumer sector, including dairy, cultivated diamonds, beer, liquor, and millet economy [1] Group 2: Banking and Internship Opportunities - A recent initiative by Industrial Bank allows clients with over 10 million CNY in new deposits to secure internship opportunities for their children at prestigious companies like JPMorgan, CICC, Google, and Microsoft, with confirmation from bank staff that the program exists but is currently closed for applications [1][1] Group 3: Salary Trends in Industries - The National Bureau of Statistics reported that the highest average annual salaries in 2024 are in the information transmission, software and IT services, and financial sectors, with the information transmission and IT services sector having a 34.60% increase in average salary over the past five years [1][1] Group 4: A-share Market Dynamics - The A-share market is experiencing increased volatility and accelerated sector rotation, with a focus on technology growth opportunities as the technology sector's crowdedness has decreased, making it more attractive for investment [2][2] - The TMT sector's trading volume has dropped to about 23%, lower than levels seen in 2023 and 2024 during previous adjustments, indicating potential for recovery [2][2] Group 5: Beverage Market Trends - The market for traditional Chinese herbal drinks has seen significant growth, with the market size increasing from 0.1 million CNY in 2018 to 4.5 million CNY in 2023, and projected to exceed 10 billion CNY by 2028, driven by younger consumers [2][2] Group 6: Education and Training Industry - The competitive landscape in the education and training sector for exams like graduate school entrance and civil service has led to a proliferation of training institutions, which are increasingly focusing on marketing their teaching staff as "famous teachers" to attract students [3][3] Group 7: Robotics Market Growth - The domestic market for robotic vacuum cleaners is expected to experience explosive growth by 2025, with online sales increasing by 67.0% and offline sales by 100.5% in the first four months of the year, indicating strong market vitality [3][3] - Major brands like Roborock and Ecovacs have reported significant revenue increases of 86.2% and 11.1% respectively in the first quarter, showcasing robust performance in the sector [3][3]

Economic Overview - Zhuhai's economy showed overall stability from January to April, with industrial, consumption, import-export, and fiscal indicators experiencing steady growth, while investment indicators saw a significant decline [1] Industrial Production - From January to April, the industrial added value of large-scale enterprises in Zhuhai increased by 6.6% year-on-year, with the "4+3" pillar industries growing by 6.9% [1] - Specific sectors such as new energy (8.2%), integrated circuits (2.1%), new generation information technology (12.7%), smart home appliances (1.1%), fine chemicals (9.0%), and high-end equipment manufacturing (42.2%) reported varied growth rates [1] Fixed Asset Investment - Fixed asset investment in Zhuhai saw a significant year-on-year decline of 41.2% from January to April, with industrial technological transformation investment down by 1.2%, real estate development investment down by 39.2%, and infrastructure investment down by 42.8% [1] Consumption Market - The total retail sales of consumer goods in Zhuhai reached 31.26 billion yuan, marking a year-on-year increase of 5.6% [1] - Within consumption types, catering revenue for above-designated size enterprises decreased by 0.3%, while retail sales of goods increased by 12.0% [1] Foreign Trade - Zhuhai's foreign trade import-export total reached 111.72 billion yuan, reflecting a year-on-year growth of 16.2% [1] - Exports totaled 75.77 billion yuan, growing by 12.3%, while imports amounted to 35.94 billion yuan, increasing by 25.4% [1] Service Industry - From January to March, the revenue of large-scale service enterprises in Zhuhai reached 40.06 billion yuan, with a year-on-year growth of 9.5% [2] - Key growth sectors included information transmission, software, and IT services (22.1%), leasing and business services (11.2%), and water, environment, and public facilities management (13.0%) [2] Fiscal and Financial Performance - From January to April, Zhuhai's general public budget revenue was 16.68 billion yuan, up by 3.9% year-on-year, while public budget expenditure was 20.47 billion yuan, increasing by 1.0% [2] - By the end of April, the balance of deposits and loans in Zhuhai's financial institutions grew by 5.9% and 3.5% year-on-year, respectively [2]

在复杂多变的外部环境中，中国经济正展现出一种独特的韧性与智慧——以做强国内大循环的确定性，应对国际大循环的不确定性。 内需为主导、内部可循环是大国经济的独特优势。我国是超大规模经济体，经济体量、市场容量都很大，产业体系完整，配套能力强，供给和需求都能够 支撑国内大循环。 在全球贸易格局剧烈动荡的当下，贸易保护主义的浪潮仍在汹涌，关税冲击频繁搅动着国际市场的平静。在这样复杂多变的局势中，中国经济的"双循 环"战略愈发凸显其前瞻性和必要性。 ■中国经济时报评论员 近期，全球经济形势愈发复杂，贸易保护主义的阴霾仍未散去，关税冲击等不稳定因素依然存在。在此背景下，我国经济的"双循环"战略愈发显得重要， 做强国内大循环已成为中国经济行稳致远的战略之举。国务院近日召开做强国内大循环工作推进会，强调要把发展的战略立足点放在做强国内大循环上， 以国内大循环的内在稳定性和长期成长性对冲国际循环的不确定性，推动我国经济行稳致远，努力实现高质量发展。 构建以国内大循环为主体、国内国际双循环相互促进的新发展格局，是习近平总书记在2020年4月中央财经委员会会议上首次提出的。从2020年提出"双循 环"，到如今把发展的战略立足点放在做 ...

Economic Overview - In April, China's economy continued to show a recovery trend, with retail sales of consumer goods and the service production index growing by 4.7% and 5.9% respectively, both up by 0.1 percentage points compared to the first quarter [3][4] - Exports increased by 7.5%, while industrial added value maintained a stable growth rate of 6.4% [3][4] - The data indicates that despite external pressures and internal challenges, China's economy demonstrates significant resilience [1][3] Industrial Growth - The industrial production index for April showed a year-on-year growth of 6.1%, with 36 out of 41 major industries experiencing growth, indicating a broad-based recovery [6][24] - Notably, equipment manufacturing and high-tech manufacturing sectors grew by 9.8% and 10.0% respectively, with new industries becoming key growth drivers [6][7] - The production of 3D printing equipment, industrial robots, and new energy vehicles saw year-on-year increases exceeding 20% [6][24] Service Sector Performance - The national service production index rose by 6.0% year-on-year in April, reflecting a stable recovery and expansion in the service sector [8][25] - The information transmission, software, and IT services sectors grew rapidly, with a year-on-year increase of 10.4% [10][25] - The service sector's internal structure is continuously optimizing, with modern and productive service industries maintaining strong growth [10][25] Consumer Spending - In April, the total retail sales of consumer goods reached 37,174 billion yuan, marking a year-on-year growth of 5.1% [12][11] - The increase in consumer spending is attributed to the effectiveness of government policies aimed at boosting consumption and improving consumer confidence [12][11] - Notable growth was observed in travel, communication, and other service-related consumption categories, driven by holiday travel demand [12][11] Investment Trends - From January to April, fixed asset investment grew by 4.0%, with equipment investment rising by 18.2%, contributing significantly to overall investment growth [14][13] - Infrastructure investment (excluding electricity) increased by 5.8%, while manufacturing investment maintained a stable growth rate of 8.8% [14][15] - The "two heavy" and "two new" policies have positively influenced investment stability, particularly in infrastructure and manufacturing sectors [14][15] Export Dynamics - Despite rising tariffs on exports to the U.S., China's exports remained robust, with a total export value of 22,645 billion yuan in April, reflecting a growth of 9.3% [17][16] - The total import value was 15,745 billion yuan, with a growth rate of 0.8%, indicating a potential need for further activation of domestic demand [17][16] - The share of private enterprises in total imports and exports increased to 56.9%, highlighting an improvement in trade structure [17][16] Employment Market - The average urban unemployment rate from January to April was 5.2%, consistent with the previous year, indicating a stable employment situation [19][18] - The employment market is expected to continue improving, supported by economic fundamentals and effective employment policies [19][18] - However, structural challenges and external pressures remain, necessitating attention to skill development and training [19][18]

4 月份，全国服务业生产指数同比增长 6.0% 。分行业看，信息传输、软件和信息技术服务业，租 赁和商务服务业，批发和零售业，金融业生产指数同比分别增长 10.4% 、 8.9% 、 6.8% 、 6.1% ，分别快于服务业生产指数 4.4 、 2.9 、 0.8 、 0.1 个百分点。 1-4 月份，全国服务业生 产指数同比增长 5.9% 。 1-3 月份，规模以上服务业企业营业收入同比增长 7.0% 。 4 月份，服 务业商务活动指数为 50.1% ，服务业业务活动预期指数为 56.4% 。其中，航空运输、电信广播电 视及卫星传输服务、互联网软件及信息技术服务、保险等行业商务活动指数位于 55.0% 以上较高景 气区间。 2025.05. 19 本文字数：2715，阅读时长大约4.5分钟 来源丨 国家统计局网站 4 月份，面对外部冲击影响加大、内部困难挑战叠加的复杂局面，在以习近平同志为核心的党中央坚 强领导下，各地区各部门认真贯彻落实党中央、国务院决策部署，坚持稳中求进工作总基调，完整准 确全面贯彻新发展理念，加快构建新发展格局，扎实推动高质量发展，加紧实施更加积极有为的宏观 政策，有力有效应对外部冲击 ...

4月份，全国服务业生产指数同比增长6.0%。分行业看，信息传输、软件和信息技术服务业，租赁和商 务服务业，批发和零售业，金融业生产指数同比分别增长10.4%、8.9%、6.8%、6.1%，分别快于服务业 生产指数4.4、2.9、0.8、0.1个百分点。1-4月份，全国服务业生产指数同比增长5.9%。1-3月份，规模以 上服务业企业营业收入同比增长7.0%。4月份，服务业商务活动指数为50.1%，服务业业务活动预期指 数为56.4%。其中，航空运输、电信广播电视及卫星传输服务、互联网软件及信息技术服务、保险等行 业商务活动指数位于55.0%以上较高景气区间。(中国网) ...

Group 1: Industrial Production - In April, the industrial added value of large-scale enterprises increased by 6.1% year-on-year and 0.22% month-on-month [1] - The manufacturing sector saw a growth of 6.6%, while the equipment manufacturing and high-tech manufacturing sectors grew by 9.8% and 10.0% respectively, outpacing the overall industrial growth by 3.7 and 3.9 percentage points [1] - The production of 3D printing equipment, industrial robots, and new energy vehicles increased by 60.7%, 51.5%, and 38.9% year-on-year [1] Group 2: Service Sector - In April, the service sector production index grew by 6.0% year-on-year, with significant contributions from information transmission, software, and IT services, which increased by 10.4% [2] - The business activity index for the service sector was at 50.1%, indicating stable growth, while the business activity expectation index was at 56.4%, suggesting positive future outlook [2] - The revenue of large-scale service enterprises increased by 7.0% year-on-year in the first quarter [2] Group 3: Consumer Market - In April, the total retail sales of consumer goods reached 37,174 billion yuan, growing by 5.1% year-on-year [2] - The online retail sales amounted to 47,419 billion yuan, with a year-on-year growth of 7.7%, and physical goods online retail sales accounted for 24.3% of total retail sales [2] - The sales of household appliances and cultural office supplies saw significant increases of 38.8% and 33.5% respectively due to the "trade-in" policy [2] Group 4: Fixed Asset Investment - From January to April, fixed asset investment (excluding rural households) reached 147,024 billion yuan, with a year-on-year growth of 4.0% [3] - Manufacturing investment grew by 8.8%, while real estate development investment declined by 10.3% [3] - Investment in high-tech industries such as information services and computer manufacturing saw substantial increases of 40.6% and 28.9% respectively [3]