Core Viewpoint - The recent adjustments to the "China's Prohibited and Restricted Export Technology Directory" reflect the evolving landscape of technology development in China, aiming to enhance national economic security and promote international economic and technological cooperation [2][4]. Summary by Sections Prohibited Export Section - The adjustment has removed one entry related to traditional Chinese architectural technology from the prohibited export list [6]. Restricted Export Section - **Construction and Decoration Industry**: - Two entries have been deleted: traditional Chinese architectural technology and building environment control technology [6]. - **Chemical Raw Materials and Chemical Products Manufacturing**: - A new restricted entry has been added for battery cathode material preparation technology, which includes: - Lithium iron phosphate preparation technology with specific chemical formula and performance criteria [6][7]. - Lithium manganese iron phosphate preparation technology with defined performance metrics [7]. - Phosphate-based cathode raw material preparation technology with strict specifications [7]. - **Non-ferrous Metal Smelting and Rolling Industry**: - The control points for non-ferrous metal metallurgy technology have been modified to include new lithium extraction technologies from spodumene, such as: - Lithium carbonate production technology and lithium hydroxide production technology [6][7]. - Additional control points for lithium purification and production processes have been introduced [7]. Purpose of Adjustments - The adjustments are intended to align with the changes in China's technological development and to improve the management of technology trade, thereby safeguarding national economic interests [4][5].

Core Viewpoint - The article discusses the recent adjustments made by the Ministry of Commerce and the Ministry of Science and Technology to the "Catalog of Technologies Prohibited or Restricted from Exporting in China," particularly focusing on dual-use technologies and their implications for the new materials and emerging technologies sector [1][2]. Summary by Relevant Sections Adjustments to Export Control Catalog - On July 15, the Ministry of Commerce and the Ministry of Science and Technology announced adjustments to the export control catalog, specifically including dual-use technologies [1]. - The adjustments follow a public consultation that began on January 2, where significant deletions and refinements were made to the catalog, particularly in the chemical raw materials and chemical products manufacturing sector [2]. Key Changes in Battery Materials - The revised catalog now includes specific control points for battery cathode material preparation technologies, particularly lithium iron phosphate and lithium manganese iron phosphate, due to their increasing application in sensitive fields [2]. - The control points for lithium iron phosphate preparation technology now require: - A powder compact density of ≥2.38g/cc at 220MPa (down from 300MPa in the earlier version) - A first-cycle coulombic efficiency of ≥95% - A discharge capacity of ≥155mAh/g at 0.1C [2][7]. - For lithium manganese iron phosphate, the requirements include: - A powder compact density of ≥2.38g/cc at 220MPa - A first-cycle coulombic efficiency of ≥95% - A discharge capacity of ≥155mAh/g at 0.1C and an average voltage of ≥3.85V [2][7]. New and Modified Technologies - The article lists newly added or modified technologies in the new materials and emerging technologies sector, including: - Non-metallic mineral products manufacturing technologies - High-temperature alloy production technologies - Rare earth extraction and processing technologies [4][5][6]. - Specific technologies related to battery materials and their preparation processes have been highlighted, indicating a focus on enhancing the control over sensitive technologies [4][5][6]. Implications for Industry - The adjustments in the export control catalog are expected to impact the new materials and emerging technologies sector significantly, particularly in the areas of battery technology and rare earth materials [2][4]. - Companies involved in the production of these materials may need to adapt their processes to comply with the new regulations, which could affect their operational strategies and market positioning [2][4].

Economic Overview - Guangdong's economy is operating steadily with macro policies working in coordination as of May [2] - The industrial production shows stable growth with a 3.5% year-on-year increase in industrial added value from January to May, an improvement of 0.1 percentage points compared to the previous period [2] Industrial Performance - Significant growth in specific products: civil drones (113.0%), flat panel displays (102.3%), and servers (510.0%) in May [2][3] - The manufacturing sector grew by 4.0%, while mining decreased by 1.7% and electricity, heat, gas, and water supply fell by 0.2% [2] Service Sector Growth - The service sector's revenue reached 1.87 trillion yuan from January to April, with a year-on-year growth of 7.8%, an increase of 0.2 percentage points from the first quarter [4] - Key areas such as transportation, information technology services, and business services contributed significantly to this growth [4] Consumer Market Trends - Retail sales of consumer goods totaled 1.926757 trillion yuan from January to May, with a year-on-year increase of 3.7%, up by 0.7 percentage points from the previous period [5] - Notable growth in specific categories: home appliances (52.5%), cultural office supplies (47.1%), and furniture (67.7%) [5] Investment Insights - Fixed asset investment decreased by 8.9% from January to May, with infrastructure investment growing by 4.5% [6] - Industrial investment accounted for 37.2%, with automotive manufacturing and non-ferrous metal processing seeing increases of 18.4% and 11.3%, respectively [6] Price Index Analysis - The Consumer Price Index (CPI) fell by 0.4% year-on-year in May, with food prices down by 0.8% and non-food prices down by 0.3% [7] - The Producer Price Index (PPI) decreased by 1.8% year-on-year in May, with a cumulative decline of 1.3% from January to May [7]

Core Insights - The profit of China's industrial enterprises above designated size reached 21,170.2 billion yuan in the first four months of this year, marking a year-on-year increase of 1.4%, the highest cumulative growth rate in nearly eight months [1][16][21] - In April alone, the profit of these enterprises grew by 3.0% year-on-year, indicating a significant recovery trend [1][16] - The total operating revenue for these enterprises in the first four months was 43.44 trillion yuan, setting a historical record for the same period [1][4] Economic Environment - The V-shaped rebound in profit growth suggests a fundamental change in the operating environment for industrial enterprises, driven by a series of policies aimed at boosting domestic demand and improving external conditions [1][18] - The U.S. Federal Reserve's new round of interest rate cuts since September has also contributed to increased demand from European and American consumers, positively impacting China's exports [1][18] Industry Performance - Among 41 major industrial categories, 23 reported year-on-year profit growth, with a growth rate of nearly 60% [17] - The agricultural and food processing industry saw a profit increase of 45.6%, while the non-ferrous metal smelting and rolling industry grew by 24.5% [17] - The equipment manufacturing sector, particularly high-tech manufacturing, demonstrated robust profit growth, with 7 out of 8 sub-sectors achieving double-digit growth [18][20] Company Performance - State-owned enterprises reported negative growth in both revenue and profit, while foreign-invested and private enterprises showed positive performance, with private enterprises' profit increasing by 14.1% [19] - The operating profit margin for enterprises increased to 4.87%, reflecting seasonal fluctuations and a higher growth rate compared to the previous year [19] Future Outlook - The combination of improved external demand and domestic policy support is expected to sustain the growth of industrial profits, with ongoing initiatives likely to enhance internal demand [20][21] - The resilience of China's manufacturing sector is anticipated to lead to a new cycle of prosperity, with expectations for continued profit growth in the future [21]

2025年1—3月份全国规模以上工业企业利润增长0.8% 1—3月份，全国规模以上工业企业实现利润总额15093.6亿元，同比增长0.8%（按可比口径计算）。 1—3月份，规模以上工业企业中，国有控股企业实现利润总额5599.5亿元，同比下降1.4%；股份制企业实 现利润总额11101.5亿元，增长0.1%；外商及港澳台投资企业实现利润总额3883.5亿元，增长2.8%；私营企业 实现利润总额3709.7亿元，下降0.3%。 1—3月份，采矿业实现利润总额2204.4亿元，同比下降25.5%；制造业实现利润总额10826.4亿元，增长 7.6%；电力、热力、燃气及水生产和供应业实现利润总额2062.8亿元，增长5.4%。 1—3月份，主要行业利润情况如下：农副食品加工业利润同比增长40.3%，有色金属冶炼和压延加工业增 长33.6%，专用设备制造业增长14.2%，通用设备制造业增长9.5%，电气机械和器材制造业增长7.5%，纺织业 增长7.1%，电力、热力生产和供应业增长6.1%，计算机、通信和其他电子设备制造业增长3.2%，化学原料和 化学制品制造业下降0.4%，石油和天然气开采业下降3.1%， 汽车制造业 ...