China is studying a tax system compatible with new business formats, improving the maternity leave system, and establishing a maternity subsidy system. Additionally, the carbon emission intensity of the national power industry decreased by 8.78% compared to 2018.

China's Third Plenary Session of the 20th CPC Central Committee outlined a comprehensive reform plan, aiming to build a high-level socialist market economy by 2035. Meanwhile, the ECB kept interest rates unchanged, citing high domestic price pressures and inflation remaining above target.

Beijing's new energy vehicle production increased by 3.5 times year-on-year, reflecting strong growth in the high-tech manufacturing sector. Additionally, the Ministry of Finance will issue 30-year fixed-rate interest-bearing treasury bonds worth 55 billion yuan on July 24, 2024, to support economic development.

China's real estate mergers and acquisitions activity increased by 11.5% month-on-month, while Eurozone consumer loan demand saw its first rise in two years. Japan may have spent $13.5 billion to intervene in the yen, and HSBC postponed India's interest rate cut expectations to the fourth quarter.

China's Central Bank reduced the Medium-term Lending Facility (MLF), potentially leading to a cut in LPR quotations in July. Housing prices in major cities like Shanghai and Beijing have shown positive trends, with narrower month-on-month declines. China's GDP grew by 5.0% in the first half of 2024, maintaining its position as a key driver of global economic growth.

China's mortgage interest rates continue to bottom out, with some banks offering rates as low as 3.05% for large loans. The Central Bank is set to release a new loan prime rate (LPR) on July 22, with expectations of improvement. Additionally, the Ministry of Commerce and other agencies issued guidelines to support cross-border trade and investment, and the Shanghai Stock Exchange will launch two new indexes, including one focused on chip design.

China has successfully built the world's first 6G trial network integrating telecommunication and intelligence, marking a significant breakthrough in 6G technology. Meanwhile, the consumption tax reform is progressing, aiming to expand local revenue sources and improve the consumption environment.

China's power battery sales increased by over 4% year-on-year in the first half of 2024, reaching 402.6GWh. Shanghai is expanding the application of intelligent networked vehicles, including smart taxis and buses, and is promoting the construction of low-altitude economy infrastructure.

The Ministry of Industry and Information Technology (MIIT) has released a draft to regulate the photovoltaic manufacturing industry, emphasizing intellectual property rights. Shenzhen is also seeking opinions on local standards for carbon neutrality in financial institutions. Additionally, Shanghai plans to build a hydrogen-based green energy trading platform, and Hangzhou and Foshan are introducing policies to support economic and housing market development.

CSSC expects a significant net profit increase of 144.04% to 171.16% YoY in H1 2024. NEV exports surged 12.3% YoY in June, while housing rents in key cities stabilized. Internationally, France faces budget deficit risks, and Japan struggles with rising costs due to yen depreciation.

The China Association of Automobile Manufacturers expressed strong dissatisfaction with the EU's temporary countervailing duty rate. The State Council and the China Securities Regulatory Commission are advancing comprehensive measures to combat financial fraud and promote high-quality development in various sectors.

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.