China's photovoltaic industry held a meeting on financial risk assessment and ecological construction, while the Ministry of Industry and Information Technology issued guidelines to enhance AI industry standards. Car sales targets lag, pig farming profits hit record highs, and Sinopec discovered high-yield oil and gas wells. Internationally, Italy's service sector grew for the sixth month, German service activity remains steady, and oil demand is expected to weaken in 2025.

The central bank plans to conduct treasury bond borrowing operations to stabilize the bond market, while the total import and export volume of automotive goods in May increased by 3.4% month-on-month. Additionally, the Ministry of Industry and Information Technology will continue to build digital infrastructure and enhance data circulation.

The manufacturing industry in China maintained its strength in June, with supply, domestic demand, and exports continuing to expand. Beijing is promoting the construction of computility infrastructure and building a supply corridor in Beijing, Tianjin, Hebei, and Mongolia. The State Council clarified transitional arrangements for the subscription period of existing companies, and lithium battery manufacturers reported normal production schedules and growing orders.

China's new regulations on the administration of rare earths will come into effect on October 1, 2024, aiming to strengthen resource protection and improve the management system. Additionally, the issuance of special bonds has accelerated in the third quarter, leading to an expected rise in infrastructure growth in the second half of the year.

China's industrial profits increased by 3.4% year-on-year from January to May, while the US second-hand housing contract volume index fell to a record low in May due to high interest rates. Other notable developments include the full operation of China's first ultra-deep extended-reach well project and the depreciation of the yen boosting tourism in Japan.

From January to May 2024, China's waterway freight volume reached 3.86 billion tons, up 7% year-on-year. Meanwhile, the U.S. new home inventory hit its highest level since 2008, posing risks to the construction industry.

China's balance of payments is expected to remain stable in the medium and long term, supported by a reasonable current account surplus and strong industrial advantages. However, the product competitiveness index of the passenger car market declined by 4.6 points in May, indicating a weakening market performance.

China's Manzhouli Port of the 'East Channel' of China-Europe Railway Express exceeded 25,000 trains, contributing to stable international supply chains. Meanwhile, the Ministry of Industry and Information Technology plans to abolish all restrictions on foreign investment in the manufacturing sector, further expanding the space for foreign investment.

China is establishing a coordinated mechanism for ecological protection supervision, while the EU's tariffs on Chinese electric vehicles are criticized for harming mutual interests. Beijing faces severe aging by 2031, and the 2024 World New Energy Vehicle Congress will be held in Haikou.

The State-owned Assets Supervision and Administration Commission plans to take more effective measures to ensure energy and electricity supply during the peak summer. Meanwhile, the Bank of England kept interest rates unchanged, signaling a potential shift towards rate cuts.

On June 21, 2024, the National Development and Reform Commission issued new measures to guide the natural gas market, while the central bank took steps to stabilize the RMB exchange rate through offshore central bills. Additionally, the State Council encouraged venture capital participation from industry leaders and research institutions.

US industrial output increased more than expected in May, driven by a broad-based pickup in factory output. Meanwhile, China's central bank is focusing on improving cross-border financial services and promoting the development of the Shanghai International Financial Center.

China's Ministry of Industry and Information Technology aims to boost the raw material industry and develop new materials. Shanghai plans to cover financial services for leading enterprises by 2025. Hong Kong announces a hydrogen energy strategy to support carbon neutrality and competitiveness.

The Shanghai Aviation Exchange reported a decline in terminal demand and the coastal composite index fell slightly. Internationally, the 50-year petrodollar agreement between Saudi Arabia and the United States expired, and Saudi Arabia chose not to renew it, potentially reshaping the global financial market.

China's first reorganization and listing company under the new 'National Nine Articles' has been announced, while the global supply of major food commodities is expected to be sufficient from 2024 to 2025, despite potential disruptions from extreme weather and geopolitical tensions.