China has lifted its largest fully ground-sitting LNG storage tank, marking a significant breakthrough in independent design and construction capabilities. Economic policies are shifting towards boosting consumption and expanding domestic demand, with a focus on improving the business environment and reducing logistics costs.

China's Ministry of Finance strengthens reform coordination, studies tax systems for new business formats, and promotes financial opening-up. Major state-owned and joint-stock banks complete the first round of RMB deposit interest rate cuts this year. The Fed is likely to keep interest rates unchanged this week, and Saudi Aramco's crude oil export prices to Europe are expected to remain stable in September.

In the first half of 2024, industrial enterprises above designated size in China saw a 3.5% increase in profits to 3,511.03 billion yuan. Beijing's second-hand housing market is booming, with July transactions expected to exceed 15,000 units. Datong is emerging as a major data center hub, with over 3.5 million servers planned.

China's Central Bank unexpectedly launched a 200 billion yuan MLF operation, reducing the interest rate by 20 basis points. The RMB sharply rose against the US dollar, approaching the 7.2 mark, before falling back. Additionally, the National Development and Reform Commission and the Ministry of Finance allocated 300 billion yuan for equipment renewal and consumer goods trade-in.

A new batch of central enterprise thematic index ETFs has been approved, including technology innovation, dividend, and ESG ETFs. Additionally, 9 steel companies plan to reduce production by over 900,000 tons to comply with new national standards for reinforced concrete steel.

Beijing banks have significantly reduced mortgage interest rates, with the first-home loan rate dropping to 3.4%. Meanwhile, the China Academy of Information and Communications Technology estimates that China's cloud computing market will exceed 2.1 trillion yuan by 2027, driven by AI advancements and large-scale applications.

China's carbon emission intensity in the power industry decreased by 8.78% in 2023 compared to 2018. The Central Committee of the Communist Party of China is studying a new tax system compatible with new business formats, focusing on improving the maternity leave system and establishing a maternity subsidy system. The SSE Science and Technology Innovation Board 200 Index will be released on August 20.

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.