China Merchants Securities Research Report Shows Recovery Trend in Production and Business Activities
According to the latest report from China Merchants Securities, the resumption of work and production after the holiday in China has led to a recovery trend in the prosperity of production and business activities. The report highlights some key structural characteristics in various industries:
1) The manufacturing industry is seeing a rebound, with improvements in production index, new orders, and export orders. The ex-factory price index and main raw material inventory index are also showing positive signs.
2) Specific segments within the manufacturing industry, such as chemical raw materials, non-ferrous metals, and petroleum and petrochemicals, are experiencing significant growth. The automotive and TMT sectors are serving as major drivers.
3) However, downstream travel services, including catering, accommodation, and air transportation, have declined post-holiday.
4) The construction industry index is showing signs of improvement, but sectors like real estate, construction, and decoration are still weak.
Looking ahead, the report predicts continued recovery in PMI due to the recovery of the global cycle, inventory replenishment at home and abroad, and ongoing policy effects. The report recommends keeping an eye on bulk commodities like petroleum and petrochemicals, nonferrous metals, and chemical raw materials, as well as industries like automobiles and electronic information manufacturing.
It is important to note that the information provided is for reference only and does not constitute investment advice. Readers are advised to proceed with caution and conduct their own research before making investment decisions.
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Proofreading: Yang Lilin.