Group 1 - The Shijingshan District has launched an "Industry Chain Leader System" to promote high-quality development of core industries through a "one industry, one leader" approach [1] - The implementation plan focuses on five cutting-edge industries: modern finance, artificial intelligence, "Sci-Fi+", industrial internet, and future health [1] - The "Chain Leader System" is led by a "General Chain Leader," who is the deputy district party secretary and district mayor, responsible for top-level design and cross-chain collaboration [1] Group 2 - The modern finance chain aims to enhance its scale and influence, reinforcing the region's core financial position [1] - The artificial intelligence chain focuses on innovation and collaboration with future information and manufacturing sectors, aiming to seize technological innovation leadership [2] - The "Sci-Fi+" chain is set to develop by linking with virtual reality and gaming sectors, creating a distinctive industrial identity [2] - The industrial internet chain will upgrade by addressing key technological challenges and advancing towards high-end industry [2] - The future health chain will enhance efficiency by leveraging medical resources for clinical research and developing smart diagnostics and innovative drug research [2]

Group 1 - The core theme of summer consumption in Chengdu is driven by high temperatures, leading to the popularity of cooling-themed activities in shopping centers [1][2] - Chengdu's major shopping centers have reported significant increases in foot traffic and sales, with a 51% increase in visitor numbers and a 28% increase in sales over five days at one location [1] - The integration of cultural, commercial, and tourism sectors is evident, with events like the "King of Glory" pop-up store attracting large crowds and enhancing the retail and dining experiences [3] Group 2 - The "Light and Layer" art exhibition featuring works from Sichuan Fine Arts Institute graduates has attracted nearly 200 visitors daily, showcasing the fusion of cultural art and urban commercial spaces [4] - The emergence of non-standard commercial formats from urban renewal projects is contributing to the cultural and tourism integration in Chengdu, with an expected 97,000 square meters of new supply from 11 non-standard commercial projects [5] - The retail market in Chengdu is anticipated to undergo significant updates by 2025, driven by urban renewal and the evolution of non-standard commercial forms, indicating a shift towards innovative consumption scenarios [5]

Group 1: Digital Cultural and Creative Industry Policies - Chengdu has launched a series of "policy packages" to accelerate the development of a nationally influential digital cultural and creative hub, focusing on startups, sci-fi content, gaming esports, and the film industry [1] - For digital cultural and creative startups, a one-time subsidy of 20,000 yuan will be provided for small enterprises established for 6 months to 3 years, along with access to 100,000 square meters of low-rent entrepreneurial space [1] - A funding pool of 100 million yuan will support financial products like "Cultural Creative Pass," providing early, small, and long-term financial support for projects [1] Group 2: Sci-Fi Content Creation and Transformation - Policies for promoting high-quality sci-fi content creation include support for sci-fi themed parks, with annual operational rewards of up to 2 million yuan [3] - National and provincial level demonstration parks can receive rewards of 1 million yuan and 500,000 yuan respectively [3] - Support for international expansion of films, games, and derivative products includes subsidies of up to 100,000 yuan for single projects [3] Group 3: Gaming and Esports Support - Esports events based in Chengdu can receive subsidies of up to 8 million yuan, while local events can receive up to 5 million yuan [3] - New or renovated professional esports venues can receive support of 30% of their investment, capped at 10 million yuan [3] - Active venues hosting high-level events can receive annual operational subsidies of up to 1 million yuan [3] Group 4: Film Industry Development - Policies for promoting the film industry focus on key areas such as project creation, platform development, and talent cultivation [4] - Film enterprises creating high-quality projects can receive funding support of up to 21 million yuan, with an additional 10 million yuan for outstanding post-broadcast performance [4] - Incentives for establishing high-tech digital studios and real scene venues can reach up to 10 million yuan [4]

Core Insights - The "Jingxi eSports Festival" in Shijingshan, Beijing, aims to promote the development of the eSports industry and transform eSports into a significant economic driver, referred to as "ticket-root economy" [1][3] Group 1: Event Overview - The festival features 37 large special exhibition booths, 50 independent game booths, 40 game exhibitors, and over 180 game titles, including new gameplay modes for the domestic 3A game "Black Myth: Wukong" [3] - The event is part of Shijingshan's initiative to build an "eSports city" and is supported by the recently released "Support Measures for the High-Quality Development of the Game and eSports Industry in Beijing" [3][4] Group 2: Strategic Partnerships - A formal agreement was signed between Shougang Park and Tencent to collaborate on various aspects of the eSports industry, including venue cooperation, IP development, and digital technology [3] - The "Nuclear Fusion Game Carnival" will also be held at Shougang Park, focusing on hosting high-level eSports events [3] Group 3: Economic Integration - The festival is integrated with the "Jingxi Consumption Festival," creating a consumption map and themed activities that combine dining, gaming experiences, and shopping [4] - The approach aims to create a closed-loop of "event traffic - commercial space - all-domain consumption," enhancing market consumption vitality [4] Group 4: Future Development - Shijingshan plans to continue stimulating the eSports industry, positioning "eSports Shijingshan" as a key attraction in Jingxi, contributing to the development of a vibrant and sustainable urban ecosystem [4]

Market Overview - The Middle East situation continues to impact global markets, with A-shares declining and the bond market strengthening. The conflict in Iran has created tension, leading to a drop in A-share performance, with only 716 companies rising, marking a recent low [2][4] - On Friday, Trump's statement regarding a decision on attacking Iran within two weeks eased market nerves, resulting in improved performance for both A-shares and Hong Kong stocks [2] Bond Market - The bond market remains strong due to a loose funding environment, despite a slight liquidity withdrawal by the central bank. Weak economic data supports the bond market, making it favorable as a safe-haven asset amid geopolitical risks [2][8] Commodity Market - Gold prices experienced a weekly decline of over 2% due to a strengthening dollar, while oil prices fluctuated significantly amid geopolitical tensions [3][37] Stock Market - As the second quarter approaches its end, attention on corporate earnings is increasing. The average daily trading volume in the Shanghai and Shenzhen markets has decreased significantly, indicating a recalibration of market expectations [6][15] - The market is expected to focus on structural opportunities, particularly in technology sectors with improving fundamentals and those benefiting from domestic demand policies [7] Industry Performance - In the past week, the banking, communication, and electronics sectors performed well, with respective gains of +2.63%, +1.58%, and +0.95%. Conversely, the pharmaceutical sector saw a decline of -4.35% [21][25] Economic Indicators - Recent economic data shows a year-on-year increase in retail sales of 6.4% for May, while fixed asset investment growth slowed to 3.7%. Real estate investment remains under pressure with a cumulative decline of -10.7% [33]

Core Viewpoint - Beijing's gaming and esports industry is experiencing accelerated development due to new supportive policies aimed at enhancing market vitality and competitiveness in the sector [3][4]. Group 1: Policy Initiatives - The Beijing Municipal Propaganda Department and 12 other departments have jointly issued a temporary support measure with 11 initiatives to promote high-quality development in the gaming and esports industry [3]. - The new measures include faster approval processes, support for high-quality game projects, protection of game copyrights, and incentives for international expansion, addressing key operational pain points for gaming companies [3][4]. - Financial rewards of up to 5 million yuan for international and national esports events are designed to attract high-quality esports companies to Beijing [4]. Group 2: National Context - The introduction of these policies aligns with the national emphasis on the esports industry, as highlighted by the State Council's recent documents supporting the development of esports and gaming [4]. - The State Council's approval of a plan to expand service industry openness further emphasizes the importance of the gaming sector, particularly in terms of overseas operations and IP development [4]. Group 3: Industry Growth and Impact - The gaming and esports industry has a significant global user base, contributing to consumer hardware upgrades and driving technological advancements, particularly in AI [5]. - The integration of gaming with various sectors such as culture, tourism, and education is expected to create substantial economic and social value [6]. - The success of major esports events, such as the KPL finals, has demonstrated the potential for increased local consumption and tourism, reinforcing the importance of the gaming industry in urban economic development [6]. Group 4: Future Outlook - The gaming and esports sector is anticipated to become a major component of daily life as online engagement increases, supported by collaborative efforts from industry stakeholders and favorable policies [7].

Core Viewpoint - The article discusses the implementation of measures to promote the high-quality development of the gaming and esports industry in Beijing, focusing on enhancing competitiveness through specific initiatives [1]. Summary by Sections Policy Measures - The approval cycle for publishing domestic online games will be shortened, with enhanced guidance for submissions and increased expert review capacity [2]. - Copyright registration for artistic, musical, and video materials in games will be expedited from 22 working days to within 10 working days [2]. - Local districts are encouraged to develop reward mechanisms for new gaming and esports enterprises, with increased support for qualifying small and innovative companies [2]. - The integration of technologies like AI and AIGC into the gaming industry will be promoted, with financial support of up to 30 million yuan for qualifying projects [2]. Event and Venue Support - Financial incentives will be provided for hosting major esports events in Beijing, with rewards of up to 5 million yuan for international events and 3 million yuan for national events [2]. - Support for venue construction and operation will be provided, including assistance for transforming old factories into esports venues [3][10]. Industry Growth and Market Performance - The gaming sector has shown a positive trend, with a 24.09% increase in the gaming sector's overall performance as of June 19 [5]. - The domestic gaming market reached 113 billion yuan in the first four months of 2025, marking an 18.9% year-on-year growth, with mobile gaming growing by 22% [3]. - Chinese gaming companies accounted for 36.6% of the global top 100 revenue in May, indicating strengthened competitiveness in international markets [3]. Investment and Fund Performance - The China Securities Anime and Gaming Index has seen an 18.89% increase year-to-date, with several ETFs in the sector also showing strong performance [6]. - Analysts suggest that the gaming industry remains highly prosperous, driven by consumer demand and policy support, recommending increased investment in the sector [6].

1. Report Industry Investment Rating No relevant content provided. 2. Core Viewpoints of the Report - Keep a close eye on price fluctuations in upstream industries, and pay attention to mid - level events and the overall situation of different industries [1] - Notice the policy promotion in the entertainment and consumption industries [2] 3. Summary by Related Catalogs 3.1 Mid - level Event Overview 3.1.1 Production Industry - The review of rare earth exports in upstream raw materials is accelerating. China is accelerating the review of rare earth - related export license applications and has approved a certain number of compliant applications [1] - The Ministry of Industry and Information Technology and other three departments held a video conference on strengthening the safety management of new energy vehicles, requiring enterprises to assume product quality and safety responsibilities and avoid cut - throat competition [1] 3.1.2 Service Industry - Beijing issued a support plan to promote the high - quality development of the game and e - sports industry, aiming to promote the in - depth integration of technologies such as AI and AIGC with the industry [2] 3.2 Industry Overview 3.2.1 Upstream - International oil prices have been rising recently, and coal inventories have declined [3] 3.2.2 Mid - stream - The PX operating rate is at a high level, and the operating rate of pig products has increased slightly [4] 3.2.3 Downstream - The sales of commercial housing in first - and second - tier cities are the same as last year and at a low level in the past three years; the number of domestic flights has decreased periodically [5] 3.3 Market Pricing - The credit spreads of the pharmaceutical and chemical industries have recently declined slightly [6] 3.4 Industry Credit Spread Tracking - The credit spreads of industries such as agriculture, forestry, animal husbandry and fishery, mining, and chemical industry have shown different trends compared with last year, a quarter ago, a month ago, and last week [52] 3.5 Key Industry Price Index Tracking - The prices of various products in different industries such as agriculture, non - ferrous metals, energy, and chemicals have different year - on - year changes and trends in the past 5 days [53]

Group 1 - The gaming sector is experiencing a downturn, with the gaming ETF (159869) dropping nearly 1.5% [1] - Key stocks such as Dianhun Network (603258), Shengtian Network (300494), and Tianzhou Culture (300148) are among the biggest decliners [1] - Beijing is supporting gaming companies with a maximum reward of 30 million yuan for enhancing R&D efficiency through computing power, model deployment, and data governance [1] Group 2 - Huachuang Securities is optimistic about the acceleration of AI product applications in the gaming industry, focusing on AI Agent, AI companionship, and AI multimodal directions [2] - AI Agent is expected to enhance efficiency through autonomous decision-making and dynamic interaction, improving user experience throughout the year [2] - The overall commercialization process of AI technology in the media and gaming sectors is accelerating [2]

Group 1 - The core viewpoint of the article highlights the recent policy support from Beijing for the gaming and esports industry, which includes 11 measures aimed at enhancing market vitality and competitiveness in the sector [1] - The gaming sector is experiencing slight fluctuations, with the gaming ETF (159869) showing a minor decline of around 0.5% [1] - Notable stocks in the gaming sector include Changyou Technology, 37 Interactive Entertainment, and Beiwai Technology, which are leading in gains, while stocks like Deyun Network and Sheng Tian Network are among the biggest losers [1] Group 2 - The policy emphasizes the integration of AI and AIGC, which is expected to benefit local gaming companies and enhance their competitiveness [1] - According to招商证券, the valuation of the gaming sector is expected to recover, with a strong outlook for both media and gaming sectors as they are considered one of the best emerging consumer segments [1] - The article suggests that the overseas cultural expansion for gaming and media is just beginning, with supportive policies in place to facilitate this growth [1][2]