[SMM Steel Market Morning News] He Lifeng pointed out during a survey in Hebei that it is necessary to actively expand domestic demand, boost consumption, and better promote high-quality economic development

★Macro★

01 ★★★ [He Lifeng pointed out during his survey in Hebei that it is necessary to actively expand domestic demand, boost consumption, and better promote high-quality economic development]

He Lifeng, a member of the Political Bureau of the CPC Central Committee and Vice Premier of the State Council, pointed out during his survey in Hebei from the 23rd to the 24th that it is necessary to thoroughly study and implement the important instructions of General Secretary Xi Jinping, earnestly implement the decisions and arrangements of the CPC Central Committee and the State Council, accelerate the construction of a unified national market, actively expand domestic demand, boost consumption, accelerate the construction of a new model for real estate development, develop new quality productive forces in line with local conditions, and better promote high-quality economic development.

He Lifeng successively visited Handan and Xingtai to conduct on-site surveys on the trade-in of home appliances, the development and sales of real estate, and the development of new energy and new material industries, among other things. He gained an in-depth understanding of the economic situation in the first half of the year, the operating conditions of relevant enterprises, and the main problems they faced. He Lifeng pointed out that since the beginning of this year, China's economy has withstood pressure and maintained a positive trend, with social confidence continuing to be boosted. It is necessary to continuously promote the implementation of the trade-in policy for big-ticket durable consumer goods to achieve tangible results, effectively and efficiently stabilize market expectations. Relevant cities can start from their actual situations, aiming at greater convenience for the people, organically combine the trade-in of consumer goods with urban renewal initiatives, and better stimulate consumption potential. It is necessary to continuously consolidate the stable trend of the real estate market, accelerate the construction of a new model for real estate development, and better meet the people's new expectations for "good houses". It is necessary to increase efforts to promote the stabilization and improvement of the quality of foreign trade production enterprises and promote the integrated development of domestic and foreign trade. It is necessary to strictly implement the requirements for strengthening supervision and preventing risks, effectively, orderly, and efficiently prevent and resolve risks of local small and medium-sized financial institutions. It is necessary to focus on the main business, continuously promote the innovative development of enterprises in high-end equipment manufacturing, intelligent PV, clean energy, new materials, and other fields, and comprehensively address cut-throat competition. It is necessary to accelerate the transformation and upgrading of economic and technological development zones, focus on improving the professional service capabilities for enterprises entering the zones, and develop new quality productive forces in line with local conditions.

He Lifeng required that relevant departments and localities should conduct in-depth investigations and research, actively explore and innovate, promptly study and solve practical problems faced by enterprises, effectively respond to the impact of external shocks, fully complete the economic work goals and tasks for the first half of the year and the whole year, and better promote high-quality economic development.

02 ★★ [Ministry of Finance: Launch incremental reserve policies in a timely manner based on changes in the situation]

According to Xinhua News Agency, on the 24th, Lan Fo'an, Minister of Finance, presented a report on the central final accounts for 2024 to the 16th session of the Standing Committee of the 14th National People's Congress on behalf of the State Council. According to the report, in 2024, new progress has been made in various aspects of fiscal reform and development, and the overall situation of the central final accounts is good.

The report indicates that in the next step, more proactive fiscal policies will be fully utilized, and incremental reserve policies will be promptly introduced based on changes in the situation, with a focus on stabilizing employment, enterprises, markets, and expectations, and making every effort to consolidate the fundamentals of economic development and social stability.

★Industry and Downstream★

01★★★  [CPCA: 1.269 million passenger vehicles sold nationwide from June 1 to 22, up 24% YoY

According to the China Passenger Car Association (CPCA), from June 1 to 22, a total of 1.269 million passenger vehicles were sold nationwide, up 24% YoY and 8% MoM. The cumulative retail sales for the year so far reached 10.086 million units, up 11% YoY. From June 1 to 22, the retail sales of new energy passenger vehicles nationwide reached 691,000 units, up 38% YoY and 11% MoM. The retail penetration rate of the national new energy vehicle market was 54.5%, and the cumulative retail sales for the year so far reached 5.049 million units, up 35% YoY.

02★★★[World Steel Association: Global crude steel production in May was 158.8 million mt, down 3.8% YoY]

Data released by the World Steel Association showed that in May 2025, the crude steel production of 70 countries/regions included in the World Steel Association's statistics was 158.8 million mt, down 3.8% YoY. Among them, Africa's crude steel production was 1.9 million mt, up 5.5% YoY; Asia and Oceania's crude steel production was 116.6 million mt, down 4.7% YoY; the EU (27 countries)'s crude steel production was 11.4 million mt, down 3.1% YoY; other European countries' crude steel production was 3.6 million mt, down 8.8% YoY; the Middle East's crude steel production was 5.4 million mt, up 5.3% YoY; North America's crude steel production was 9.5 million mt, up 3.4% YoY; Russia and other CIS countries + Ukraine's crude steel production was 7 million mt, down 8.1% YoY; and South America's crude steel production was 3.4 million mt, up 4.2% YoY.

03 ★★ [A residential land plot in Tianjin sold at a 16.93% premium]

On June 25, Tianjin auctioned off three residential land plots, including two in Wuqing District and one in Binhai New Area, with a total land transfer area of 128,697.4㎡, a total planned construction area of 197,137㎡, and a total starting price of 1.298 billion yuan.

In the end, the residential land plot in Binhai New Area was sold at a 16.93% premium, while the two residential land plots in Wuqing District were both sold at the base price. The total transaction amount for the three residential land plots was 1.335 billion yuan.

04 ★★ [A residential land plot in Suzhou sold at the base price of 757 million yuan

]Suzhou auctioned off a residential land plot in Shishan, with a land transfer area of 26,368.2㎡, a total planned construction area of 36,915.48㎡, a floor area ratio of 1.4, a green space ratio of ≥30%, and a building height limit of 60m. The starting price was approximately 757 million yuan, and the starting floor price was 20,500 yuan/㎡. The plot was acquired by a consortium of Greentown Construction Management (Jiangsu Nanjing) Co., Ltd. and Suzhou Xingao Urban Development Co., Ltd. at a base price of approximately 7.57 billion yuan.

★Other Hot Topics★

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