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.

The World Bank reports global economic growth has stabilized but remains below pre-pandemic levels. BRICS countries and developing nations held a dialogue to promote world multipolarization and address global challenges. Domestically, State Grid accelerates regulated power supply construction and strengthens regional coordination.

China's light industry saw a strong rebound in the first four months, with operating income reaching nearly 7 trillion yuan. Meanwhile, the International Sugar Organization raised its forecast for the global sugar supply shortage in 2023/2024 to 2.954 million tons, highlighting ongoing supply concerns.

Chongqing held a signing event for foreign investment in state-owned enterprise reform, attracting over $1 billion in projects. CNOOC announced a significant gas discovery in the South China Sea. The European Central Bank cut interest rates for the first time in five years, and the U.S. trade deficit widened in April.