On May 20th, the three major A-share indices all experienced a slight increase. By the midday close, the Shanghai Composite Index had risen by 0.38%, the Shenzhen Component Index by 0.10%, and the ChiNext Index by 0.21%.

Looking at the market, the precious metals, civil explosion concepts, scenic spots and tourism, cultivated diamonds, and pork sectors were among the top gainers, while the high-speed copper cable connections, cloud gaming, and flying car sectors were among the top losers.

Let's review the market hotspots from the morning session.

**Precious Metals Sector Soars**

The precious metals sector saw a significant surge, with Xiaocheng Technology and Hunan Silver hitting the daily limit up by the midday close, followed by Sichuan Gold, Hunan Gold, and Yintai Gold with leading gains.

Last Friday, gold and silver prices skyrocketed once again, with silver prices reaching an 11-year high and gold prices rebounding to the historical high of April. Regarding the future trend of gold, multiple institutions and analysts have indicated that there is still room for gold prices to rise, potentially aiming for $2,500 per ounce.

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**Scenic Spots and Tourism Sector Rises**

The scenic spots and tourism sector also rose, with Changbai Mountain hitting the daily limit up by midday, followed by Tibet Tourism, Emei Mountain A, and Zhangjiajie.

Recently, Liu Aihua, a spokesperson for the National Bureau of Statistics, stated at a press conference held by the State Council Information Office that according to relevant department monitoring, during the May Day holiday, the number of domestic tourist trips increased by 28.2% compared to the same period in 2019, and the total expenditure on tourism grew by 13.5%.

**Power Sector Shows Activity**

The power sector was also active, with several stocks showing significant movement, reflecting the ongoing interest in the sector's performance and potential growth prospects.The power sector has been active, with Guang'an Aizhong hitting the daily limit up, and Mingxing Electric Power, Xichang Electric Power, Leshan Electric Power, and others following suit.

Data released by the National Energy Administration on the 17th shows that in April, the total electricity consumption by the whole society was 741.2 billion kilowatt-hours, a year-on-year increase of 7.0%. Looking at the electricity consumption by industry, the first industry consumed 9.6 billion kilowatt-hours, a year-on-year increase of 10.5%; the second industry consumed 517.1 billion kilowatt-hours, a year-on-year increase of 6.2%; the third industry consumed 127 billion kilowatt-hours, a year-on-year increase of 10.8%; the electricity consumption for urban and rural residents' life was 87.5 billion kilowatt-hours, a year-on-year increase of 5.9%.

**May LPR Quotation Released: One-year and Five-year LPRs Remain Unchanged**

The People's Bank of China authorized the National Interbank Offered Rate to announce that the Loan Prime Rate (LPR) on May 20, 2024, is as follows: the one-year LPR is 3.45%, and the LPR for terms over five years is 3.95%.

**National Development and Reform Commission: Taking More Measures to Consolidate and Expand the Advantages of the New Energy Vehicle Industry Development**

According to Xinhua News Agency, Huo Fupeng, Deputy Director of the Industrial Department of the National Development and Reform Commission, said in the "China Economic Roundtable" large-scale multimedia interview program launched by Xinhua on the 20th, that the National Development and Reform Commission will work with relevant parties to take more practical measures to promote the quality improvement, cost reduction, and expansion of quantity of new energy vehicles, and to consolidate and expand the advantages of industrial development. Huo Fupeng said that in terms of encouraging the consumption of new energy vehicles, the next step is to promote the implementation of policies and measures such as car replacement with old ones, new energy vehicles going to the countryside, and the electrification of vehicles in the public sector, to further expand the market scale. In terms of accelerating technological progress and innovation, support will be given to related enterprises to accelerate the research and development of electrification and intelligent technology, to strengthen their strengths and fill their weaknesses, and to continuously enhance the competitiveness of the industry. He stated that efforts should be made to actively promote the new energy vehicle industry to achieve higher quality development. More leading enterprises in China should be cultivated, and the competitiveness of enterprises should be continuously improved. At the same time, more attention should be paid to the collaborative coordination between leading enterprises in the industry and upstream and downstream parts enterprises, to enhance the resilience of the industrial chain.

**Ministry of Industry and Information Technology: Four Aspects of Advantage Constitute the Competitiveness of China's New Energy Vehicle Industry**

According to Xinhua News Agency, He Hailin, Deputy Director of the Operation Monitoring and Coordination Bureau of the Ministry of Industry and Information Technology, said in the "China Economic Roundtable" large-scale multimedia interview program that the competitiveness of China's new energy vehicle industry is mainly reflected in four aspects: the technological and brand advantages accumulated through continuous innovation, the industrial chain advantages formed by the supporting capabilities, the industrial scale advantages created by the super large market, and the rich human resources and factor advantages. He Hailin said that China's comprehensive competitive advantage in the new energy vehicle industry is due to our strategic determination to develop new energy vehicles, our unwavering commitment to the pure electric drive route, our establishment of an efficient work mechanism, and close cooperation between government, enterprises, academia, and research. It is also due to the industry's increased investment in research and development, the formation of a strong internal driving force through innovation, and the global division of labor and open cooperation, forming an international collaboration in the industrial chain and supply chain.

**China Shipbuilding Industry Association: The Three Major Shipbuilding Indicators in China Grew Synchronously in the First Quarter of 2024**

According to the China Shipbuilding Industry Association, from January to March 2024, the national shipbuilding completion volume was 12.35 million deadweight tons, a year-on-year increase of 34.7%; the new order volume was 24.14 million deadweight tons, a year-on-year increase of 59.0%; as of the end of March, the order backlog was 154.04 million deadweight tons, a year-on-year increase of 34.5%. From January to March, China's shipbuilding completion volume, new order volume, and order backlog accounted for 53.8%, 69.6%, and 56.7% of the global total respectively; China had 6, 5, and 6 enterprises in the top 10 globally for shipbuilding completion volume, new order volume, and order backlog respectively. From January to March, the concentration of the top 10 enterprises in the national shipbuilding completion volume was 67.4%, the new order volume was 61.2%, and the order backlog was 57.0%.【Hainan Further Regulates the Management of "Low, Slow, and Small" Aircraft Activity Areas】

The General Office of the People's Government of Hainan Province issued the "Hainan Province 'Low, Slow, and Small' Aircraft Activity Area Management Measures (Trial)". It is mentioned that when using "low, slow, and small" aircraft for flight activities within Hainan Province, it is necessary to comply with anti-smuggling, civil aviation, and other laws and regulations as well as other management requirements. Those conducting flight activities in the maritime areas under the jurisdiction of Hainan Province should also comply with the laws and regulations of the coast guard and other management requirements. Except as otherwise provided by the state, the organizers of flight activities within Hainan Province using "low, slow, and small" aircraft should supervise the operators and provide flight dynamics to the Hainan Province Low-altitude Flight Service Information Platform. For flight activities within Hainan Province using "low, slow, and small" aircraft, the organizers and other relevant units should carry out safety checks in accordance with the regulations of civil aviation, public security, and so on.

【No Signs of Life Found in the Helicopter Wreckage Carrying Iranian President Raisi】

According to Xinhua News Agency citing Iranian state television on the 20th, the wreckage of the helicopter carrying Iranian President Raisi has been found, and no signs of life have been detected so far.