Key domestic news includes Heilongjiang exceeding 10 billion kWh of new energy power transmission, Shanghai Port maintaining global top rank in container throughput, and COSCO SHIPPING signing a strategic agreement with Xiamen. Internationally, the US announced new tariffs on Chinese goods, including electric vehicles, and oil prices fell due to weak market conditions and declining interest rate cut hopes.

The National Development and Reform Commission reports that industrial enterprise profits have increased for three consecutive quarters, supporting expanded reproduction. Xinjiang accelerates the construction of clean energy bases, including wind power and photovoltaic projects, aiming to build a new power system and achieve coordinated development of photovoltaic 'blue', desert 'yellow', and ecological 'green'.

In the first quarter of 2024, China's shipbuilding industry saw significant growth in completions, new orders, and hand-held orders. The Shanghai Futures Exchange held a symposium to discuss the high-quality development of steel futures, focusing on improving risk management, delivery mechanisms, and hedging systems.

The International Energy Agency (IEA) warns of potential shortages of critical minerals crucial for green energy, while Beijing implements a reduction in provident fund loan interest rates. Other domestic news includes stable coal prices and the launch of advanced hydrogen production equipment.

On May 17, multiple ministries and commissions in China set up a joint working group to prepare for major measures in the real estate industry, aiming to stabilize the market. The People's Bank of China also accelerated the planning and construction of digital central banks, enhancing cybersecurity and data security.

China's 2023 autumn grain purchases have reached a new high, with over 200 million tons purchased. Domestic oil prices are set to drop, saving drivers 9 yuan per tank. The CSRC strengthens high-frequency trading supervision, and green supply continues to grow, reducing industrial energy consumption by over 36% since 2012.

Domestic oil prices are expected to see their largest decline of the year on May 15, reducing fuel costs for consumers. Meanwhile, the probability of the Fed keeping interest rates unchanged in June is 96.5%, and new regulations aim to boost the U.S. power grid to meet rising AI energy demands.

China's coking coal prices have surged by over 34% this year, reflecting strong demand and increased profitability in the steel industry. Meanwhile, the national railway transported 75.301 million tons of goods last week, marking a 0.54% month-on-month increase. The central bank also announced support for optimizing the 'Swap Connect' mechanism to enhance financial market openness.

Chinese companies have secured exploration licenses for five oil and gas fields in Iraq, while positive factors are accumulating for the comprehensive recovery of China's assets. The rail-sea intermodal trains of the western land-sea corridor have transported over 300,000 TEUs, and policies to support the low-altitude space economy are expected to be introduced in 2024.

China's coal remains a key energy source despite global shifts, the postal industry saw a 13.2% revenue increase in 2023, and Biden plans to announce new tariffs on Chinese electric vehicles as soon as next week. These developments highlight ongoing economic and trade tensions and domestic industrial growth.

China's key real estate enterprises saw profits fall by about 50% in Q1, while the container market is expected to enter a stable recovery channel in 2024, better than last year. The first 10,000-ton sea vessel sailed directly to Chongqing, reducing transportation time by 20 days. The Ministry of Industry and Information Technology encourages the use of clean energy like photovoltaics.

China's Standing Committee of the National People's Congress announced the 2024 legislative work plan, focusing on financial stability and green energy. The first 10,000-ton sea vessel sailed directly to Chongqing, reducing transportation time. Key domestic real estate profits fell by 50%, and the container market is expected to recover in 2024.

The National Development and Reform Commission (NDRC) signed three cooperation documents with France during President Xi Jinping's visit, focusing on inter-sectoral exchanges, green development, and aviation. Meanwhile, IDC forecasts that China's ICT market in the power industry will grow to 84.06 billion yuan by 2028, with a compound annual growth rate of 8.7%. Additionally, the Baltic Dry Bulk Freight Index hit a six-week high, and the Russian government announced its resignation.

China's Ministry of Human Resources and Social Security and other departments have launched unemployment insurance policies to help enterprises stabilize jobs. The Politburo meeting suggested a flexible use of interest rates and RRR, with an RRR cut expected before an interest rate cut. The market penetration rate of new energy vehicles exceeds 50%, and the auto market may become dual-tracked. The NDRC held a symposium on large-scale equipment renewal with private enterprises.

China's commodity price index increased by 3% month-on-month in April, driven by rising prices in non-ferrous metals and chemicals. Meanwhile, the development of domestic offshore wind power is expected to show an inflection point, with increased bidding scales and project deliveries.