Core Viewpoint - Turkmenistan Airlines is increasing the frequency of several international flight routes to enhance connectivity and meet growing demand [1] Flight Frequency Increases - The Ashgabat-Jeddah route will increase to three flights per week, operating on Tuesdays, Wednesdays, and Fridays starting next week [1] - From October 26, the Ashgabat-Kazan route will have four flights per week, while the Ashgabat-Milan route will increase to three flights per week [1]

Core Insights - Beijing Daxing International Airport welcomed its 10 millionth international passenger since opening on July 22, indicating significant growth in international travel [1] Group 1: International Route Development - Daxing Airport has expanded its international route network, connecting approximately 40 international and regional destinations across 24 countries and regions, including Europe, the Middle East, Northeast Asia, and Southeast Asia [1] - The airport is designated as a comprehensive international aviation hub, as per the guidelines issued by the Civil Aviation Administration and the National Development and Reform Commission in 2024 [1] - Notable direct flight connections include cities such as Moscow, Osaka, Seoul, Kuala Lumpur, Abu Dhabi, Riyadh, London, Casablanca, and Tashkent [1] Group 2: Airline Participation - A total of 70 domestic and international airlines have operated international routes from Daxing Airport since its opening, including major Chinese carriers like China Southern Airlines, China Eastern Airlines, and Air China [1] - 30 foreign airlines, including Qatar Airways and Singapore Airlines, have also established operations at Daxing Airport [1] - The resumption of the Royal Air Maroc flight from Daxing to Casablanca marks the first African route since the airport's international operations resumed [1] Group 3: Passenger Traffic Growth - As of July 22, Daxing Airport has facilitated over 18,000 international and regional flights, transporting more than 3.17 million international passengers, reflecting a year-on-year increase of 29.49% [2] - The airport experienced a peak of 19,200 international passengers on July 13, setting a new record for the year [2] - The international passenger throughput surpassed 3 million by July 16, achieving the target 46 days ahead of schedule [2]

Group 1 - The core viewpoint of the articles highlights the expansion of China's visa-free agreements, which is significantly boosting the outbound tourism market during the summer season [1][2][3] - As of now, China has signed visa-free agreements with 158 countries, with recent agreements with Azerbaijan and Malaysia contributing to the growth of outbound tourism [1] - Following the implementation of visa-free policies, there has been a notable increase in flight bookings, with a 117% year-on-year increase in bookings to Uzbekistan after the visa agreement took effect [1] - The announcement of the visa-free agreement with Malaysia led to a 140% increase in flight and hotel searches on travel platforms [1] Group 2 - Major airlines are increasing international flight capacity, with Southern Airlines adding 192 flights, Air China enhancing capacity on popular routes, and Eastern Airlines planning over 300 international flights weekly [2] - The expected passenger transport volume for the summer travel period is projected to reach 150 million, with international flights estimated at 123,000, reflecting a 14.1% year-on-year growth [2] - Data indicates that outbound flight bookings have surpassed 7.19 million, an approximate 8% increase compared to the previous year, while the average price of outbound travel products has decreased by about 5% [2][3] - The overall growth trend in the outbound tourism market is expected to continue, potentially exceeding pre-pandemic levels from 2019 [3]

Core Insights - The international passenger flow at South Korean airports exceeded 46 million in the first half of the year, marking a historical high for this period [1][2] - The total number of international flight passengers reached approximately 46.03 million, a 7.6% increase compared to the same period last year, surpassing the previous record of 45.56 million in 2019 [1] - The number of international flights increased to 264,253, reflecting a 5.6% year-on-year growth, also exceeding the 2019 record of 263,681 flights [1] Passenger Growth by Route - The most significant increase in international passengers was observed on routes to China, with 7.81 million passengers, a rise of 1.52 million or 24.3% year-on-year [1] - The growth in Chinese routes is attributed to the short-term visa exemption policy for South Korean citizens implemented by the Chinese government in November 2018 [1] - If the South Korean government's proposed temporary visa exemption for Chinese group tourists from July to September is implemented, a substantial increase in Chinese visitors to South Korea is anticipated [1] Other International Routes - Following China, the passenger numbers for routes to Japan also saw significant growth, reaching approximately 13.43 million, which is a 9.9% increase [1] - There was also an increase in passengers traveling to the Americas (up 7.8%), Europe (up 3.0%), and the Middle East (up 5.2%), indicating a steady upward trend in long-haul travel [2] Airport Statistics - In terms of airport statistics, Incheon International Airport accounted for about 36.11 million international passengers, while the other six international airports collectively had around 9.91 million international passengers [2] - Industry experts predict that with the increasing popularity of international travel and the rise in supply, demand for international flights is expected to reach historical highs [2] - If exchange rates and oil prices remain stable, the demand for international routes in the second half of the year is likely to continue growing [2]

Group 1 - El Al Israel Airlines is preparing to resume international flights from Ben Gurion Airport in Tel Aviv starting June 23 [1] - The airline will limit the number of passengers on each flight to 50 [1] - Flights will be available to eight major destinations including Larnaca, Athens, Rome, Paris, London, New York, Los Angeles, and Bangkok [1] Group 2 - The airline has opened a registration window on its website for flights departing from Israel, subject to government regulations [1]

Group 1 - The Israeli government has decided to suspend all outbound flights from Israel to foreign destinations [1]

Core Insights - China's inbound tourism market is experiencing significant growth driven by favorable policies such as visa exemptions and tax refunds, with a focus on converting inbound traffic into economic benefits [1][6] - Major airlines are expanding international routes and capacity to accommodate the increasing number of inbound tourists, with notable growth in passenger numbers from regions like Europe and Japan [2][3] - Airports are enhancing services to improve the inbound experience, transitioning from mere transit points to comprehensive gateways that create value for foreign visitors [3][4] Group 1: Inbound Tourism Growth - The introduction of visa-free policies for several South American countries and the mutual visa exemption with Uzbekistan is expected to boost inbound tourism [1] - In April, domestic airlines increased international capacity to 9 million seats, marking a 20.75% year-on-year growth [1] - Eastern Airlines and other carriers are launching new international routes and increasing flight frequencies to popular destinations [2] Group 2: Airport and Service Enhancements - Major airports like Shanghai Pudong and Guangzhou Baiyun are seeing increased passenger volumes, with Shanghai's airports averaging 114,000 inbound and outbound travelers daily during the May Day holiday, a 24% increase year-on-year [3][4] - Airports are improving multilingual services and offering comprehensive one-stop services for foreign travelers, enhancing the overall travel experience [3][4] Group 3: Market Potential and Recommendations - The inbound tourism market is projected to grow significantly, with an expected 1.3 billion inbound tourists in 2024, reflecting a 60% year-on-year increase [6] - The share of inbound consumption in China's GDP is currently at 0.5%, indicating substantial growth potential compared to 1% to 3% in other major countries [6] - Recommendations include enhancing payment systems, expanding tax refund services, and improving digital services to attract more foreign tourists [6]

Industry Investment Rating No investment rating information is provided in the report. Core Viewpoints - Focus on the development of downstream applications in the digital industry [1] - The financial industry expands the scope of loan support and increases the credit limit [1] Summary by Directory Middle - view Event Overview Production Industry - The National Press and Publication Administration solicits opinions on the "Regulations on Promoting National Reading (Draft for Comment)", supporting the development of digital reading [1] Service Industry - The Ministry of Human Resources and Social Security expands the scope of the special loan for stabilizing and expanding employment to include individual business owners, and raises the maximum credit limit for small and micro - enterprises to 50 million yuan and 10 million yuan for individuals [1] Industry Overview Upstream - Energy: International oil prices fluctuate [1] - Chemical: Polyethylene prices continue to decline [1] - Building Materials: Cement and building material prices continue to decline [1] - Non - metal: Natural rubber prices decline slightly [1] - Black: Coke prices decline [1] Middle - stream - Chemical: PTA operating rate declines compared to the same period; the operating rates of urea, PX, and polyester increase compared to the same period [2] Downstream - Real Estate: The sales of commercial housing in first - and second - tier cities are weaker than the same period [3] - Service: The number of international flights increases, while the number of domestic flights decreases compared to the same period [3] Market Pricing - Industry credit spreads fluctuate slightly [4] Industry Credit Spread Tracking | Industry | Year - to - date | One - quarter ago | One - month ago | Last week | This week | Quantile | | --- | --- | --- | --- | --- | --- | --- | | Agriculture, Forestry, Animal Husbandry and Fishery | 77.60 | 92.21 | 79.41 | 87.29 | 84.25 | 15.60 | | Mining | 50.64 | 49.73 | 47.63 | 55.04 | 49.71 | 29.00 | | Chemical | 77.06 | 91.61 | 67.80 | 74.85 | 69.44 | 14.80 | | Steel | 57.83 | 60.30 | 57.20 | 64.78 | 58.69 | 19.50 | | Non - ferrous Metals | 63.81 | 57.44 | 56.18 | 65.10 | 59.26 | 28.40 | | Electronics | 71.75 | 75.15 | 80.49 | 87.83 | 79.59 | 53.20 | | Automobile | 85.62 | 80.96 | 65.90 | 72.33 | 52.70 | 0.00 | | Household Appliances | 61.09 | 56.22 | 53.92 | 58.28 | 50.56 | 12.70 | | Food and Beverage | 59.00 | 45.53 | 44.39 | 53.57 | 46.32 | 14.00 | | Textile and Apparel | 76.82 | 57.97 | 56.89 | 64.33 | 55.64 | 10.80 | | Light Industry Manufacturing | 252.03 | 202.77 | 197.14 | 205.58 | 201.09 | 14.70 | | Pharmaceutical Biology | 69.15 | 75.61 | 65.88 | 77.40 | 72.41 | 28.60 | | Public Utilities | 41.14 | 35.91 | 33.18 | 40.03 | 34.73 | 28.40 | | Transportation | 49.26 | 39.69 | 36.57 | 42.87 | 39.54 | 16.90 | | Real Estate | 328.68 | 193.60 | 152.71 | 151.38 | 139.80 | 13.70 | | Commercial Trade | 65.60 | 53.18 | 51.82 | 60.18 | 53.50 | 15.50 | | Leisure Services | 76.21 | 98.68 | 108.37 | 108.00 | 103.97 | 92.60 | | Bank | 34.48 | 27.28 | 30.86 | 31.64 | 29.38 | 55.20 | | Non - bank Finance | 42.22 | 38.93 | 35.55 | 41.14 | 36.49 | 18.50 | | Comprehensive | 77.36 | 54.33 | 50.67 | 56.24 | 51.27 | 5.20 | | Building Materials | 53.59 | 49.32 | 46.51 | 55.78 | 48.88 | 27.00 | | Building Decoration | 59.58 | 58.42 | 56.64 | 62.39 | 57.36 | 16.90 | | Electrical Equipment | 79.81 | 85.02 | 82.75 | 95.68 | 87.87 | 52.00 | | Machinery and Equipment | 51.08 | 45.71 | 44.36 | 52.15 | 46.52 | 29.80 | | Computer | 100.49 | 83.35 | 69.85 | 76.46 | 68.52 | 5.70 | | Media | 208.09 | 48.00 | 44.56 | 53.78 | 47.76 | 3.40 | | Communication | 52.39 | 39.68 | 37.28 | 43.96 | 35.53 | 9.20 | [42] Key Industry Price Index Tracking | Industry Name | Index Name | Frequency | Unit | Update Time | Current | YoY | 5 - day Trend | | --- | --- | --- | --- | --- | --- | --- | --- | | Agriculture | Spot price of corn | Daily | Yuan/ton | 3/24 | 2210.0 | 0.26% | | | | Spot price of eggs | Daily | Yuan/kg | 3/24 | 6.8 | 0.75% | | | | Spot price of palm oil | Daily | Yuan/ton | 3/24 | 9704.0 | - 0.16% | | | | Spot price of cotton | Daily | Yuan/ton | 3/24 | 14928.7 | - 0.02% | | | | Average wholesale price of pork | Daily | Yuan/kg | 3/24 | 21.1 | 0.24% | | | Non - ferrous Metals | Spot price of copper | Daily | Yuan/ton | 3/24 | 81146.7 | 1.44% | | | | Spot price of zinc | Daily | Yuan/ton | 3/24 | 24148.0 | 0.20% | | | | Spot price of aluminum | Daily | Yuan/ton | 3/24 | 20823.3 | - 0.48% | | | | Spot price of nickel | Daily | Yuan/ton | 3/24 | 130300.0 | - 0.65% | | | | Spot price of aluminum | Daily | Yuan/ton | 3/24 | 17393.8 | - 0.07% | | | | Spot price of rebar | Daily | Yuan/ton | 3/24 | 3186.7 | - 0.95% | | | Ferrous Metals | Spot price of iron ore | Daily | Yuan/ton | 3/24 | 790.8 | - 0.79% | | | | Spot price of wire rod | Daily | Yuan/ton | 3/24 | 3367.5 | - 1.46% | | | | Spot price of glass | Daily | Yuan/square meter | 3/24 | 15.2 | 1.00% | | | Non - metal | Spot price of natural rubber | Daily | Yuan/ton | 3/24 | 16636.0 | 0.46% | | | | China Plastic City Price Index | Daily | - | 3/24 | 856.5 | - 0.60% | | | | Spot price of WTI crude oil | Daily | US dollars/barrel | 3/24 | 68.3 | 1.64% | | | Energy | Spot price of Brent crude oil | Daily | US dollars/barrel | 3/24 | 71.6 | 1.46% | | | | Spot price of liquefied natural gas | Daily | Yuan/ton | 3/24 | 4222.0 | 1.93% | | | | Coal price | Daily | Yuan/ton | 3/24 | 789.0 | - 2.23% | | | | Spot price of PTA | Daily | Yuan/ton | 3/24 | 4877.3 | 1.25% | | | | Spot price of polyethylene | Daily | Yuan/ton | 3/24 | 8033.3 | - 1.65% | | | Chemical | Spot price of urea | Daily | Yuan/ton | 3/24 | 1963.0 | 4.58% | | | | Spot price of soda ash | Daily | Yuan/ton | 3/24 | 1538.0 | - 1.28% | | | | National cement price index | Daily | - | 3/24 | 148.9 | - 1.10% | | | Real Estate | Comprehensive building material index | Daily | Points | 3/24 | 117.5 | - 0.76% | | | | National concrete price index | Daily | Points | 3/24 | 100.5 | 0.04% | | [43]