On April 18th, the three major A-share indices opened low and then rose. By the midday break, the Shanghai Composite Index had increased by 0.55%, the Shenzhen Component Index by 0.72%, and the ChiNext Index by 0.45%. The financial sector saw a strong performance across the board, with the low-altitude economy concept becoming hot, and the solid-state battery, home appliance, auto parts, and minor metals sectors leading the gains. The oil, electricity, and highway sectors generally declined, and the ST (Special Treatment) sector continued to plummet.

Let's review the market hotspots from the morning.

**Low-Altitude Economy Concept Continues to Rise, with Jin Dun Shares and Others Hitting the Upper Limit**

The low-altitude economy concept stocks continued to explode, with more than 10 stocks including Jin Dun Shares, Andawell, and CITIC Offshore Helicopter hitting the upper limit, while Guanglian Aviation and Blue Ocean Huiteng were among the leaders in gains.

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At a press conference, Deputy Minister of Industry and Information Technology, Dan Zhongde, stated that in the next step, to develop the low-altitude economy well, especially to coordinate high-quality development with high-level safety, they will further strengthen inter-departmental collaboration and central-local linkage, and accelerate the creation of a new engine for low-altitude economic growth.

Galaxy Securities pointed out that the low-altitude economy industry chain includes the upstream flight infrastructure and support service end, the midstream aircraft manufacturing end, and the downstream operation application end. Looking ahead, the trillion-yuan market for the low-altitude economy is on the verge of explosion, with infrastructure taking the lead, and manufacturing and operations advancing in tandem.

**Gold Concept Enters Adjustment, with Lesheng Tongling Hitting the Lower Limit at One Point**

The gold concept opened low and continued to decline, with Lesheng Tongling falling more than 9%, and hitting the lower limit at one point during the session. Baoding Technology fell more than 7%, with Ningbo Zhongbai, Guiyan Platinum Industry, and Yintai Gold among the leaders in declines.

Regarding the subsequent trend of gold prices, the investment research institute of Wells Fargo pointed out that after gold prices set a historical record this year, there is still room for increase, as "changes in the Federal Reserve's interest rate path may become a particularly strong tailwind."

**People's Bank of China Governor Pan Gongsheng Meets with Federal Reserve Chairman Powell**On April 17th, during the International Monetary Fund/World Bank Spring Meetings in Washington D.C., People's Bank of China Governor Pan Gongsheng met with Federal Reserve Chairman Jerome Powell. The two sides exchanged views on topics such as the economic situation in China and the United States, monetary policy, and financial stability.

【MIIT: Accelerate breakthroughs in foundational and key core technologies and products such as intelligent chips, large model algorithms, and frameworks】

At a press conference, Tao Qing, spokesperson for the Ministry of Industry and Information Technology (MIIT) and director of the Operation Monitoring Coordination Bureau, stated that the next steps will focus on the underlying technologies of large model algorithms and computing power. Efforts will be accelerated to break through foundational and key core technologies and products such as intelligent chips, large model algorithms, and frameworks. This will be coupled with an increase in the deployment of intelligent IoT terminals and industrial cloud services, enhancing the operational management capabilities of computing power supply for the manufacturing industry. The aim is to guide ecological enterprises to quickly build general large models with global competitiveness, cultivate industry-specific large models for manufacturing scenarios, and construct a high-level industrial database to stimulate the value of industrial data elements.

【MIIT: Accelerate the layout of industrial chains around the innovation chain for the development of low-altitude economy, and speed up the breakthrough and innovation of low-altitude intelligent connectivity technology and models】

Deputy Minister of Industry and Information Technology, Dan Zhongde, stated at the press conference that to develop the low-altitude economy, especially to coordinate high-quality development with high-level security, the next steps will include strengthening inter-departmental collaboration and central-local linkages to accelerate the creation of a new engine for low-altitude economic growth. Four key areas of work will be emphasized:

1. Accelerate equipment innovation. The development of the low-altitude economy requires low-altitude equipment, which involves speeding up the core technology breakthroughs for new types of general aviation equipment, including key technological innovations in batteries, motors, and other applications in the aviation industry. The goal is to build a low-altitude equipment product system that meets the needs of different application scenarios, is low-cost, highly reliable, high-performance, and high-safety.

2. Strengthen application-driven development. Focus on application scenarios, such as logistics, rescue, and transportation. Guided by the construction of an industrial ecosystem chain, a multi-scenario application demonstration system for low-altitude will be created. Efforts will be made to actively cultivate high-tech enterprises and specialized "little giant" enterprises in the field of low-altitude economy, accelerating the layout of industrial chains for low-altitude economic development around the innovation chain, and truly strengthening the deep integration of industry, academia, and research for better low-altitude economic development.

3. Enhance technological integration. Make full use of and leverage enabling technologies such as new-generation information and communication technology, digital technology, intelligent technology, and artificial intelligence to accelerate the breakthrough and innovation of low-altitude intelligent connectivity technology and models, providing solid support for the construction of a future low-altitude safe and efficient operation system.

4. Strengthen standard support. Accelerate the establishment of an industrial standard system that covers the entire lifecycle of low-altitude equipment, including research and design, manufacturing, testing and verification, and operational support. Collaborate with relevant departments to promote the construction of a third-party testing and certification system.

The low-altitude economy is an important direction for the future development of emerging industries and will eventually form a trillion-level industry scale. It is certain to better benefit the people and meet their aspirations for a better life.

【MIIT: Moderately advance the layout of 5G, computing power, mobile IoT, and other information infrastructure】

Dan Zhongde stated at the press conference that, based on the current work, several aspects will be addressed in the next steps. First, strengthen application-driven development by deeply promoting the construction of smart factories and intelligent supply chains. Implement "AI+" initiatives, build smart parks, and cultivate a group of typical benchmarks for digital transformation and intelligent development. Support traditional industries and small and medium-sized enterprises in technological transformation based on mature and advanced applicable technologies. The goal is that by 2025, more than 70% of large-scale manufacturing enterprises will have basically achieved digitalization and networking, and a number of leading smart manufacturing demonstration factories will be established.

Second, improve supply support. We will plan and layout major scientific and technological innovation projects in the field of intelligent manufacturing, strengthen the breakthrough of key core technologies in intelligent manufacturing processes, equipment, products, and software systems. At the same time, cultivate suppliers of intelligent manufacturing system solutions, and by 2025, develop a group of suppliers with high professional level and strong service capabilities to better promote the digital transformation and intelligent upgrading of more enterprises.Thirdly, it is essential to improve infrastructure. A moderately advanced layout of information infrastructure such as 5G, computing power, and mobile IoT is necessary, along with increased construction of industrial internet platforms. Efforts should be accelerated to promote the innovative development of the industrial internet and to perfect the standard system for intelligent manufacturing. Particularly, it is crucial to strengthen assessment and evaluation work, with the goal of establishing a number of industrial internet platforms with industry and regional influence by 2025.

【MIIT: Accelerate R&D of 6G and Terabit Optical Networks, and Speed Up the Development and Application of Big Data, Artificial Intelligence, etc.】

Zhao Zhiguo, the spokesperson and Chief Engineer of the Ministry of Industry and Information Technology (MIIT), stated at a press conference that the next steps for the MIIT will focus on high-quality development as the primary task, further consolidating and enhancing the competitive advantages and leading position of the information and communication industry. Firstly, strengthen the foundation. We must solidify and strengthen the foundation, accelerate the implementation of policies related to large-scale equipment updates, and promote the optimization and upgrading of information infrastructure. Promote the coordinated development of computing power infrastructure and speed up the formation of a national integrated computing power system. Secondly, focus on innovation. We believe that innovation is fundamental, promoting the integration of 5G with various technologies such as big data, cloud computing, and artificial intelligence, and accelerating the evolution of 5G. 5G is currently evolving towards 5G Advanced or 5.5G, and efforts should be intensified to accelerate R&D of 6G and terabit optical networks. Thirdly, enhance applications. Accelerate the development and application of big data, artificial intelligence, and other areas, carry out the "AI+" initiative, and continuously speed up the large-scale application of the industrial internet. Fourthly, optimize regulation. Speed up the introduction of innovative policies and opinions for optimizing the management of the information and communication industry and improving the business environment, and continue to create a first-class business environment to better serve market entities. Fifthly, ensure security. Strengthen the construction of technical support capabilities, improve the level of network and data security management in the industry, and promote the better innovative development of the network and data security industry.