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Macro
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01
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[CPC Central Committee Political Bureau: Deepen Comprehensive Reforms in Capital Market Investment and Financing, Enhance Market Resilience and Confidence]
The Political Bureau of the CPC Central Committee held a meeting on July 30. The meeting stressed the need to effectively build a secure barrier. Stabilize the real estate market, properly implement the package of debt resolution plans, solidly advance reforms and risk mitigation, and reduce quantity while improving quality of local small and medium-sized financial institutions. Deepen comprehensive reforms in capital market investment and financing, enhance market resilience and confidence. Conduct in-depth inspections and rectifications of all types of risks and hazards, resolutely curb the occurrence of major and severe accidents. Strengthen inspections and management of risks in dangerous reservoirs, river embankments, flash floods, geological disaster-prone areas, and urban low-lying flood-prone points, solidly carry out flood control emergency response, rescue and disaster relief efforts, and fully safeguard the safety of people's lives and property.
02
★★★
[CPC Central Committee Political Bureau: Accelerate Fiscal Expenditure and Bond Fund Utilization, Forcefully Advance the “Implement Major National Strategies and Build up Security Capacity in Key Areas” Program and the “Program of Large-Scale Equipment Upgrades and Consumer Goods Trade-ins”]
The Political Bureau of the CPC Central Committee held a meeting on July 30. The meeting pointed out that macro policies should be strengthened and enhanced, with accelerated fiscal expenditure and bond fund utilization, to forcefully advance the “implement major national strategies and build up security capacity in key areas” program and the “program of large-scale equipment upgrades and consumer goods trade-ins.” Firmly safeguard the “three guarantees” baseline at the grassroots level. Comprehensively utilize and timely adjust monetary policy tools, and optimize the implementation of coordinated fiscal and financial policies to boost domestic demand.
03
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[CPC Central Committee Political Bureau: Formulate and Implement Regulations for Building a Unified National Market, Continue Comprehensive Rectification of “Involution-Style” Competition]
The meeting stressed the need to create a fair and orderly market competition environment, formulate and implement regulations for building a unified national market, continue comprehensive rectification of “involution-style” competition, and regularize the resolution of overdue payments to enterprises. Deepen reforms of state-owned assets and enterprises, optimize the development environment for the private sector, and promote the healthy and regulated development of the platform economy.
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Industries and Downstream
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01
★★
[Two Residential Land Parcels in Hangzhou Sold for 1.418 Billion Yuan, with Highest Premium Rate of 46.69%]
Two residential land parcels were sold in Hangzhou, with a total transaction value of 1.418 billion yuan. Specifically, the Liangzhu East parcel in Yuhang had a planned floor area of 47,698.50 sqm, a plot ratio of 1.5, a starting price of 525 million yuan, and a starting floor price of 11,000 yuan/sqm. It was eventually won by Baoyi Real Estate Group Co., Ltd. with a total price of 770 million yuan, resulting in a transaction floor price of 16,137 yuan/sqm, a premium rate of 46.69%. The parcel in Xiaoshan Sci-Tech City had a planned floor area of 65,697.50 sqm (above-ground 61,498.5 sqm, underground 4,199 sqm), a plot ratio of 1.05, a starting price of 648 million yuan, and a starting composite floor price of 9,861 yuan/sqm. It was eventually won by Jindi at the starting price of 648 million yuan, with the transaction composite floor price at 9,861 yuan/sqm.
02
★★
[Guangzhou Launches First Pilot of Completed Home Sales]
On July 29, the Nansha Branch of the Guangzhou Municipal Planning and Natural Resources Bureau publicly listed a residential land parcel for transfer, requiring the successful bidder to commit to selling completed homes on one of the plots, while the local government offered support through installment payment of land transfer fees. A relevant official from the Nansha District Housing and Urban-Rural Development Bureau told reporters that this is Guangzhou's first residential project to include a “completed home sales commitment system” in the transfer conditions, effectively resolving the trust issue of “whether homes can be delivered on time.” Next, the district will orderly expand the pilot scope of the completed home sales commitment system, promote this model on more high-quality land parcels, and accelerate the formation of replicable experience.
03
★★★
[Chongqing: Intensify Efforts to Cultivate and Build an International Consumption Center City, Create World-Renowned Commercial Districts]
The “Several Policy Measures for Intensifying the Cultivation and Construction of an International Consumption Center City in Chongqing” has been issued. It proposes to support the upgrading and creation of world-renowned commercial districts. Encourage the optimization of the consumption environment, informatization transformation, and other construction efforts; support the development of debut economy and nighttime economy; guide the transformation and revitalization of existing commercial resources in line with planning, and upgrade distinctive commercial blocks. Support the optimization of consumption carrier construction. Increase support for land use for new industries and new business forms, and guide globally leading, regional landmark, and wholly-owned new consumption projects to be precisely located in key areas such as commercial districts and distinctive blocks. Systematically promote urban renewal, promote the cross-departmental joint approval model for implementation plans, shorten approval times, and strive to revitalize idle commercial resources in line with planning. Enterprises that use old factory buildings to develop elderly care, medical care, and other state-supported industries may enjoy a five-year transitional policy, continuing to use the land for its original purpose and type of land rights.
04
★★★
[SMM Data on Iron Ore Inventories at Ten Ports]
According to an SMM survey, as of July 30, the total inventories at the ten ports tracked by SMM stood at 106.92 million mt, up 1.29 million mt MoM, with coarse ore, concentrates, lump ore, and pellets all showing slight inventory buildups.
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Other Hot Topics
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⭕[US Military Says It Has Concluded a New Round of Large-Scale Strikes Against Iran]On July 29 local time, the US Central Command released a statement stating that at 22:00 Eastern Time on July 29, US Central Command concluded a round of large-scale strikes against Iran. The statement said Central Command forces struck dozens of Islamic Revolutionary Guard Corps (IRGC) targets inside Iran, including military command centers, missile and drone facilities, coastal surveillance and defense positions, and facilities related to maritime combat capabilities. The strikes aimed to further degrade the threat posed by Iran and its proxies to US forces, commercial shipping, and Gulf neighbors. The US military said that on July 28, the IRGC launched multiple ballistic missiles from inside Iran in an attempt to launch a surprise attack on US forces in the Middle East, and all Iranian missiles were successfully intercepted. Currently, more than 50,000 US military personnel are deployed in the Middle East, maintaining high vigilance and focus, with strong combat capability and readiness to respond to any situation.
⭕[As of End-June, Nation’s Operational New-Type Energy Storage Capacity Reaches 153 Million kW]It was learned at a press conference held today by the National Energy Administration that since the beginning of this year, China's new-type energy storage has continued its sound development momentum. As of end-June, the total installed capacity of operational new-type energy storage nationwide had reached 153 million kW, up 61% YoY. Meanwhile, in H1, the utilization hours of new-type energy storage continued to increase.
⭕[National Energy Administration: Power Supply Generally Stable During This Year's Summer Peak Season]It was learned at a press conference held today by the National Energy Administration that during this year's summer peak demand period, although the national electricity load repeatedly set new records, overall power supply across regions was stable. Since early July, large-scale, persistent hot weather has occurred nationwide. Driven by the continuous improvement in economic performance and the hot weather, electricity demand in many areas remained robust and growing, with the national electricity load setting three historical highs, reaching a maximum of 1.553 billion kW, an increase of about 45 million kW over last year's peak. Since June, the electricity loads of 15 provincial-level grids, including Liaoning, Jiangsu, and Hubei, have set new records 32 times cumulatively. From the supply side, the current power supply situation nationwide is generally stable. Liu Mingyang, Deputy Director of the Department of Electricity at the National Energy Administration, introduced that compared to the same period last year, in June this year, the country added about 400 million kW of new power generation capacity over June last year, including 110 million kW of new supporting and regulating capacity from hydropower, gas, coal, and other sources. Since the start of the summer period, primary energy supplies such as thermal coal and natural gas have been adequate. Nationally, coal inventories at unified-dispatch power plants are sufficient for more than 30 days, a historically sound level. All types of supporting and regulating power sources are operating at full capacity and producing steadily, and the national power supply security situation is stable.
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![Surge in Port Arrivals Combined with Inventory Buildup at Ports, Significant Pullback in Hot Metal Production, and Iron Ore Most-Traded Contract Hitting a New Low in Over a Year [SMM Commentary]](https://imgqn.smm.cn/usercenter/JSngP20251217171719.jpg)
