🌟 Weekly Review of Macro Economy (June 26 - July 2, 2024) 🌟

📈 Industrial Enterprise Profit Growth in China (January-May 2024) 📈

From January to May 2024, the total profit of national industrial enterprises above designated size reached 2,754.38 billion yuan, a year-on-year increase of 3.4% (calculated by comparable approach).

🏭 Breakdown by Enterprise Type 🏭

• State-controlled enterprises: 943.84 billion yuan, ↓2.4%
• Shareholding enterprises: 2,051.05 billion yuan, ↑1.0%
• Foreign and Hong Kong, Macao, Taiwan invested enterprises: 682.78 billion yuan, ↑12.6%
• Private enterprises: 732.93 billion yuan, ↑7.6%

📊 Breakdown by Industry 📊

Profit Growth Highlights:

• Nonferrous metal smelting and rolling industry: ↑80.6%
• Computer, communication and other electronic equipment manufacturing: ↑56.8%
• Electric power, thermal power production and supply industry: ↑35.0%

Profit Decline Industries:

• Coal mining and washing industry: ↓31.8%
• Non-metallic mineral products industry: ↓52.9%
• Petroleum, coal and other fuel processing industry: Transition from profit to loss

🌐 National Energy Administration Releases Power Industry Statistics 🌐

As of the end of May, the total installed capacity of the national power generation reached approximately 3.04 billion kilowatts, a year-on-year increase of 14.1%.

🌞 Renewable Energy Highlights 🌞

• Solar power installed capacity: About 690 million kilowatts, ↑52.2%
• Wind power installed capacity: About 460 million kilowatts, ↑20.5%

🛍️ China's Purchasing Managers Index (PMI) for June 2024 🛍️

🏭 Manufacturing PMI 🏭

Manufacturing PMI for June: 49.5%, stable from the previous month, indicating a generally stable business climate in manufacturing.

🏢 Non-Manufacturing PMI 🏢

Non-manufacturing business activity index for June: 50.5%, slightly lower than the previous month, but still above the critical point, indicating continued expansion.

📈 Composite PMI Output Index 📈

Composite PMI output index for June: 50.5%, slightly lower than the previous month, but above the critical point, indicating that business operations and production activities in China continue to expand.

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