According to a report by Jinshi Data on August 14, KPMG's report predicts that China's macroeconomic policies will be more active in the second half of the year, supporting the stabilization and recovery of economic growth. Manufacturing investment is expected to maintain a high level, infrastructure investment will rebound marginally, and real estate investment is still in the bottoming stage. On the demand side, the potential of service consumption is expected to be released faster, and consumption will recover moderately. Export performance exceeded expectations, and the recovery of external demand will drive exports to remain resilient. Fiscal spending will be strengthened, and monetary policy will continue to be prudent and loose in general, and reserve requirement ratio and interest rate cuts may continue.