Industry China

  • CLS: A number of paper companies have recently announced a price increase of 200 yuan/ton for coated paper.
  • China Automobile Dealers Association: In July, the inventory warning index of Chinese auto dealers was 57.8%, a year-on-year increase of 3.4%, and a month-on-month increase of 3.8%.


  • Development and Reform Commission: Optimize the management of car purchase and use, and no new car purchase restriction measures shall be added in all regions.
  • Ministry of Industry and Information Technology: In the first half of the year, Internet and related service companies above designated size completed Internet business revenue of 643.3 billion yuan, a year-on-year increase of 2.6%; total profits were 63.96 billion yuan, a year-on-year increase of 27.6%; investment in research and development was 30.54 billion yuan, a year-on-year decrease of 6.8%.
  • National Development and Reform Commission: Expand digital consumption. Enrich 5G network and gigabit optical network application scenarios. Accelerate the digital transformation of traditional consumption and live broadcast economy.
  • Energy Bureau: As of the end of June, the cumulative installed capacity of new energy storage projects that have been built and put into operation across the country exceeded 17.33 million kW/35.8 million kWh, and the average energy storage time was 2.1 hours. The installed capacity newly put into operation is about 8.63 million kW/17.72 million kWh, which is equivalent to the sum of the accumulated installed capacity in previous years. From the perspective of investment scale, the newly put into operation of new energy storage drives direct investment of more than 30 billion yuan.
  • Bureau of Statistics: In July, the manufacturing PMI was 49.3%, an increase of 0.3 percentage points month-on-month; the non-manufacturing PMI was 51.5%, a month-on-month decrease of 1.7 percentage points, still higher than the threshold; the composite PMI was 51.1%, a month-on-month decrease of 1.2 percentage points , the overall continued expansion.


  • IT Home: LG Display has entered the Vision Pro silicon-based OLED supply chain, breaking Sony’s exclusive supply chain. As other manufacturers break through technical bottlenecks one after another, Samsung Display and others have the opportunity to enter the supply chain. At that time, Sony’s position in Apple’s silicon-based OLED supply chain system will gradually decrease, and the cost of silicon-based OLEDs will also have the opportunity to drop.
  • Tesla: The prices of Model 3 and Model Y in Hong Kong, China, will be cut again on August 4, following the price adjustment on April 15. The price cuts for some models are as high as 11.9%.


  • US Snow and Ice Data Center: Antarctic sea ice extent is at its lowest level on record. In mid-July, Antarctic sea ice was 2.6 million square kilometers below the 1981-2010 average, an area almost the size of Argentina.
  • India’s measures to limit rice exports are having knock-on effects. 5% broken Thai white rice, an Asian benchmark, rose to $572 a tonne, the highest since April 2020; Vietnamese traders expect the country’s 5% broken rice export price to rise to $600 a ton in August. This has also increased concerns about rice supply in some countries. Russia announced that it will continue to extend the rice export ban.