★Macro★
01 ★★★ [‘15th Five-Year Plan for Expanding Consumption’: Promote consumption of bulk durable goods, expand automobile consumption, support smart upgrades of home furnishing and home appliance consumption]
The State Council released the "15th Five-Year Plan for Expanding Consumption," which proposes to promote consumption of bulk durable goods. Better meet housing consumption demand, optimize the supply of government-subsidized housing, increase the supply of improvement-oriented housing according to local conditions, and standardize the development of the housing rental market. Implement housing quality improvement projects, build safe, comfortable, green and smart "good houses," steadily advance the renovation of urban villages, dilapidated houses and old urban residential communities, support residents’ independent renewal, and support aging-friendly renovations and smart upgrades of old houses. Implement actions to improve property service quality and expand property service content. Expand automobile consumption, promote the innovative development of the entire automobile distribution and consumption chain, facilitate the circulation of used cars, and expand automobile aftermarket consumption such as modification, leasing, motorsport events and RV camping. Support smart upgrades of home furnishing and home appliance consumption, develop new-generation smart terminals, promote interconnectivity of smart home devices, and drive the transition from single-product smart to whole-house smart.
02 ★★★ [State Council approves ‘15th Five-Year Plan for Expanding Consumption’: By 2030, household consumption ratio to rise markedly, total retail sales of consumer goods to reach around 60 trillion yuan]
On the night of July 11 and early morning of July 12, Typhoon Bavi, the ninth typhoon of this year, made landfall twice, first in Yuhuan, Taizhou, Zhejiang, and then in Yueqing, Wenzhou, Zhejiang. Many areas in Zhejiang were hit by strong winds and heavy rain, severely affecting local production and daily life. On July 12, the National Disaster Prevention, Reduction and Relief Commission activated the Level-IV national disaster relief emergency response. The National Development and Reform Commission (NDRC) urgently allocated 100 million yuan from the central budget to support Zhejiang in post-typhoon emergency recovery, focusing on the restoration of damaged roads, water conservancy and other infrastructure, as well as public service facilities such as schools and hospitals, to facilitate a swift return to normal production and living order.
03 ★★ [Four Departments: By 2030, build new internet infrastructure featuring efficient collaboration and smart connectivity]
The Ministry of Industry and Information Technology (MIIT) and three other departments issued the "Guiding Opinions on Promoting High-Quality Development of Internet Basic Resources." The document proposes that by 2030, the high-quality development of internet basic resources shall achieve systematic breakthroughs, deliver a number of landmark original technological achievements, and form a series of leading technical standards. Internet basic resources and their architecture shall undergo innovative evolution, leading to the construction of new internet infrastructure featuring efficient collaboration and smart connectivity, and the creation of a number of new service networks. The innovation-driven development system encompassing industry, academia, research and application for internet basic resources shall be continuously improved, supporting the rapid development of new internet scenarios, models and business forms. Capabilities for efficient governance and comprehensive security assurance of internet basic resources shall be significantly enhanced. By 2035, China is expected to become an important innovation source and leader in the global internet infrastructure field, providing full support for building new internet infrastructure that is advanced in architecture, universally interconnected, high-speed and ubiquitous, and secure and controllable.
04 ★★★ [Li Qiang chairs symposium on economic situation with experts and entrepreneurs: Systematic measures should be taken to unleash domestic demand potential and accelerate cultivation of new consumption growth drivers]
On the afternoon of July 13, Li Qiang, Member of the Standing Committee of the Political Bureau of the CPC Central Committee and Premier of the State Council, chaired a symposium on the economic situation with experts and entrepreneurs, soliciting opinions and suggestions on the current economic situation and the next steps in economic work. At the symposium, Huang Hanquan, Yang Zhiyong, Wang Wen, Zhang Jun, Hou Qijun, Yu Donglai, Wang Zhijian, Li Jun and others spoke in turn. Participants believed that against the backdrop of intensified global turbulence and turmoil, China’s economy remained generally stable in H1, with new growth drivers strengthening rapidly, effectively countering external uncertainties with the certainty of its own development. Although certain risks and challenges remain, the momentum for high-quality development continues to build. They also offered opinions and suggestions on resolving contradictions and problems in economic operations.
★Industries & Downstream★
01 ★★ [11 residential land parcels in Beijing awaiting auction have total starting price reaching 31.924 billion yuan]
According to statistics from the land auction project announcements of the Beijing Municipal Commission of Planning and Natural Resources, there are currently 11 residential land parcels awaiting auction, with total starting prices reaching 31.924 billion yuan. They are scheduled to be sold from late July to mid-August. Among them, the parcel in Sijiqing Town, Haidian District has the highest starting price at 8.555 billion yuan; the parcel on Guangqu Road, Chaoyang District has the highest starting floor price at 68,332 yuan/m².
02 ★★★ [11 residential land parcels in Beijing awaiting auction have total starting price reaching 31.924 billion yuan]
According to statistics from the land auction project announcements of the Beijing Municipal Commission of Planning and Natural Resources, there are currently 11 residential land parcels awaiting auction, with total starting prices reaching 31.924 billion yuan. They are scheduled to be sold from late July to mid-August. Among them, the parcel in Sijiqing Town, Haidian District has the highest starting price at 8.555 billion yuan; the parcel on Guangqu Road, Chaoyang District has the highest starting floor price at 68,332 yuan/m².
★Other Hot Topics★
⭕[‘15th Five-Year Plan for Expanding Consumption’: Cleanse and optimize irrational restrictive measures, promote the shift from purchase management to usage management for automobile and other consumption]The State Council approved in principle the "15th Five-Year Plan for Expanding Consumption" and requested its earnest organization and implementation. The plan points out the need to cleanse and optimize irrational restrictive measures. Promote the shift from purchase management to usage management for automobile and other consumption, guarantee car purchase demand for car-less households that have long failed in license plate lotteries based on the number of years, and explore differentiated vehicle purchase quota management methods for urban and suburban areas. Support localities in adjusting and optimizing real estate policies according to local conditions to better meet residents' rigid and improvement-oriented housing demand. Deepen reform of the housing provident fund system, expand its scope of use, and focus on meeting the diverse housing needs of depositors at different stages. Optimize the approval management of performance events, promote "one-stop" joint departmental approval for large-scale public activities and fully online processing, and strictly implement the content review accountability system at the first performance location for touring projects.
⭕[Iran’s Persian Gulf Strait Authority: Strait of Hormuz is now impassable]Iran’s Persian Gulf Strait Authority stated on social media that due to the recent "hostile actions" by the U.S. military, the Strait of Hormuz is currently impassable. The authority said that once stability and calm are restored, all transit applications will be reviewed according to the established timetable, and the permit process will resume. The only way to obtain a transit permit is through the authority’s website.
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