1. [Electricity Consumption] National Energy Administration: In April, total electricity consumption across society reached 820.5 billion kWh, a year-on-year increase of 6.0%. Breaking this down by sector: electricity consumption in the primary industry stood at 11.2 billion kWh, up 2.0% year-on-year; in the secondary industry, it reached 558.4 billion kWh, up 5.3%; and in the tertiary industry, it totaled 151.7 billion kWh, up 8.9%. Electricity consumption by urban and rural residents amounted to 99.2 billion kWh, an increase of 6.0% year-on-year. For the period from January to April, cumulative electricity consumption across society reached 3,334.5 billion kWh, a year-on-year increase of 5.4%.

2. [US Employment Figures] ADP data indicates that for the four-week period ending May 2, US private-sector employment increased by an average of 42,250 jobs per week—an uptick from the previous figure of 33,000.

3. [Fed Interest Rates] Barclays' latest analysis suggests that the Federal Reserve's baseline scenario remains a rate cut in March 2027; however, this scenario is contingent upon extremely stringent conditions and carries a probability of only 35%. The three pathways that could trigger an interest rate hike are also clearly defined: long-term inflation expectations becoming unanchored; core inflation remaining persistently elevated even after the impact of tariffs subsides; and demand outpacing supply—particularly if the AI investment cycle and wealth effects materialize ahead of corresponding productivity gains.

Textiles

1. [Cotton Yarn] Recently, Hubei Suizhou Huihongxing Textile announced its decision to construct a new "green and intelligent" short-process production line with an annual output of over 30,000 tons of cotton yarn. Earlier this year, the company signed a supply contract with Jingwei Textile Machinery for a complete set of 3,000-position open-end spinning equipment.

2. [Cotton Yarn] Phase I of the 300,000-spindle spinning project in Yopurga, Xinjiang, is poised to commence operations shortly. During the first quarter of this year, construction of Xinjiang Taiyue Textile Co., Ltd.'s 300,000-spindle combed compact spinning project proceeded at full speed. Phase I is scheduled to go into production in May; Phase II aims to complete equipment installation by November of this year; and Phase III is slated to complete equipment delivery and placement in December. With a total investment of 1.08 billion RMB, the project will produce high-end pure cotton combed compact yarns with counts of 60s and above. Upon completion, the facility is expected to yield an annual output of 24,500 tons of cotton yarn.

3. [Cotton Yarn] In April 2026, China's imports of cotton yarn totaled 200,000 tons—an increase of approximately 80,000 tons (66.67%) year-on-year, and a decrease of approximately 10,000 tons (7.69%) month-on-month.

4. [Lint Cotton] In April 2026, China's imports of cotton totaled 170,000 tons—a decrease of 10,000 tons (5.6%) from the previous month (180,000 tons), and an increase of 110,000 tons (171.0%) year-on-year (compared to 60,000 tons).

5. [Lint Cotton] According to the latest report from the Australian Cotton Shippers Association (ACSA), approximately 15% of the new Australian cotton crop has currently completed processing, and 10% has been graded. Harvesting progress has exceeded 80%, and nearly all cotton gins are now operational. Production is expected to reach the industry forecast of 4.3 million bales—a figure significantly lower than the level of over 5 million bales projected for the 2024/25 season.

6. [Lint Cotton] In April, South Korea imported 2,710 tons of cotton, representing a month-on-month decrease of 47.5% (down from 5,166 tons) and a year-on-year decrease of 64.9% (down from 7,712 tons).

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