Core Viewpoint - The St. Petersburg International Commodity Exchange has signed a memorandum of understanding with Pakistan's KMAK Group to promote exchange trading following a meeting of the Russia-Pakistan Trade and Investment Working Group [1] Group 1: Trade Developments - Wheat has been identified as one of the first export commodities for Russia, while rice is set to be one of the first import commodities for Pakistan [1] - Other potential commodities for cross-border trading between Russia and Pakistan include energy, other agricultural products, mineral fertilizers, forest products, and primary metallurgical products [1] Group 2: Certification Process - KMAK Group is currently undergoing the qualification certification process with the St. Petersburg Exchange [1] - Upon successful certification, KMAK Group will be granted the status of "non-resident broker," allowing it to represent the interests of Pakistani enterprises in pilot exchange trading [1]

Core Insights - A new company, Huizhesenheng Trading Co., Ltd., has been established with a registered capital of 600,000 RMB, indicating a focus on the food and agricultural sectors [1] Company Overview - The legal representative of the company is Hu Wei, and its business scope includes food sales, food production, catering services, and urban delivery transportation services (excluding hazardous goods) [1] - The company is authorized to engage in various activities, including the purchase, production, sales, processing, transportation, and storage of primary agricultural products [1] Business Activities - The company can conduct food internet sales (limited to pre-packaged food) and general merchandise sales, as well as engage in the cultivation of fruits, nuts, vegetables, and flowers [1] - Additional activities include wholesale and retail of fresh fruits and vegetables, collection of forest products, and sales of agricultural by-products [1] - The company is also involved in the import and export of goods, including food products, and offers ordinary goods warehousing services (excluding hazardous chemicals) [1] Service Offerings - The company provides delivery services, restaurant management, and various technical services such as consulting, development, and technology transfer [1]

Group 1 - The establishment of Zhaoqing Mulin Forest Products Co., Ltd. has been recently registered with a capital of 1 million RMB [1] - The company's business scope includes general projects such as forest product collection, wood processing, wood acquisition, and wood sales [1] - Additional activities include bamboo and wood chip processing, resource recycling technology research and development, and construction waste recycling technology research and development [1] Group 2 - The company is also involved in the sale of material handling equipment, furniture sales, and the manufacturing and sales of cork products [1] - The company operates independently based on its business license, except for projects that require approval by law [1]

Core Viewpoint - Recently, Le'an County Ronghui Technology Co., Ltd. was established with a registered capital of 500,000 RMB, focusing on food production and sales, as well as internet sales of food products [1] Company Summary - The legal representative of the company is Xie Xiaojiao [1] - The registered capital of the company is 500,000 RMB [1] - The company is involved in various licensed projects including food production, food sales, and agricultural seed operations, which require approval from relevant authorities [1] - The general business scope includes software development, internet sales of pre-packaged food, sales of agricultural products, and information consulting services [1]

Group 1 - The digital economy in China is transitioning from the "Internet+" phase to the "AI+" phase, becoming a key driver for social and economic transformation, particularly in enhancing the value of rural ecological products [1] - Rural ecological products encompass traditional resources like agricultural, forestry, and aquatic products, as well as new ecological services such as eco-tourism and cultural creativity [1] - Digital technology is breaking information asymmetry, reducing transaction costs, and expanding value boundaries, facilitating the transformation from "green mountains and clear waters" to "golden mountains and silver mountains" [1] Group 2 - Current challenges for rural ecological products include a lack of unified quantification standards and accounting systems, leading to difficulties in market pricing and property rights ambiguity [2] - Information asymmetry increases transaction costs, making it hard for high-quality agricultural products to achieve premium pricing due to a lack of credible traceability [2] - The rural industrial chain is short with low added value, and the processing rate of primary agricultural products is low, resulting in a low share of income for farmers [2] Group 3 - Digital platforms can optimize supply-demand matching, addressing traditional transaction issues, and promoting green consumption through direct connections between rural producers and urban consumers [2] - Digital governance can facilitate innovative collaboration among stakeholders, reducing institutional transaction costs and enhancing the efficiency of ecological project funding [2] - Enhancing digital literacy among rural talents through training programs can improve their digital operational capabilities and agricultural production efficiency [3]

Core Viewpoint - The State Council has announced the fourth national agricultural census to be conducted in 2026, aiming to assess the modernization of agriculture and rural areas in China [1][2]. Group 1: Census Overview - The census will take place on December 31, 2026, with data collected for the entire year [1]. - It is a significant national survey aimed at understanding the agricultural landscape and rural conditions in the context of China's modernization efforts [1][2]. - The census will include various subjects such as rural households, agricultural production units, and local government bodies [1]. Group 2: Key Areas of Investigation - The census will investigate five main areas: 1. Agricultural production conditions, including workforce, land use, and social services [2]. 2. Food production status, covering grains, economic crops, and livestock products [2]. 3. New agricultural productivity, focusing on modern agricultural entities and technologies [2]. 4. Rural development basics, including industry growth and governance [2]. 5. Rural residents' living conditions, assessing family situations and quality of life [2]. Group 3: Methodology and Technology - The census will utilize a combination of comprehensive surveys and sampling methods to enhance efficiency and reduce the burden on local authorities [2]. - Modern technologies such as satellite remote sensing, drones, and artificial intelligence will be employed to improve data collection and analysis [2]. - The initiative aims to create a unified agricultural census data platform to facilitate the sharing and application of results [2].

Economic Growth - The Guosen High-Frequency Macro Diffusion Index A turned negative, indicating a decline in economic momentum[1] - Index B decreased, with investment and real estate sectors showing a downturn while consumer sector remained stable[1] - Seasonal analysis shows Index B typically rises by an average of 0.17 weekly post-Spring Festival, but this week it fell by 0.43, underperforming historical averages[1] Price Trends - Food prices are expected to decline by approximately -1.0% month-on-month in May, while non-food prices are projected to decrease by -0.2%, leading to an overall CPI decline of -0.4%[2] - The PPI is anticipated to drop by -0.2% month-on-month, with a year-on-year decrease of -3.1%[2] Market Predictions - Current domestic interest rates are low, while the Shanghai Composite Index is high, suggesting a potential rise in the ten-year government bond yield and a decline in the Shanghai Composite Index next week[1][19] - The predicted ten-year government bond yield for the week of May 30, 2025, is 2.28%, while the Shanghai Composite Index is forecasted to be 3,099.44[20]