Morning Report

Wednesday, April 1, 2026, Lunar Calendar: February 14, Good morning!

1. March Manufacturing PMI was 50.4%, up 1.4 percentage points from the previous month, above the critical point, indicating a rebound in manufacturing sector activity.

2. Chongqing reports: An explosion in a tunnel resulted in 4 deaths and 9 injuries. On-site rescue work has concluded, the involved construction site has been sealed off, and follow-up work is underway in an orderly manner. An investigation into the accident has been initiated.

3. The Changying-8 large cargo drone successfully completed its maiden flight at Zhengzhou Shangjie Airport, becoming the largest cargo drone ever to take flight globally.

4. Ministry of Education: Universities are to establish new disciplines and majors to adapt to new technologies, industries, and business models; Xi'an Jiaotong University has established a Space Manufacturing Research Institute.

5. China's first regional legislation in the field of government services, "Regulations to Promote the 'One-Stop' Government Service in the Yangtze River Delta," will take effect on May 1.

6. Ministry of Transport: During the Qingming Festival holiday, tolls will be waived for passenger cars with fewer than 7 seats on expressways; several regions announced free temporary parking in internal parking lots of government agencies during the holiday.

7. Changbai Mountain, Jilin: Free admission for global visitors from now until April 30.

8. A single company can receive up to 10 million yuan in support annually! Guangzhou Haizhu District is precisely targeting three disruptive frontier industries: low-altitude economy, embodied intelligence, and brain-computer interfaces.

9. Hainan: Depositors' children purchasing their first home can apply to withdraw housing provident fund to pay for the house.

10. Iran's parliament has approved legislation to impose transit fees for ships passing through the Strait of Hormuz. U.S. Secretary of State Blinken stated that the U.S. will not allow Iran to charge tolls for ships passing through the Strait.

11. India will launch the world's largest population census, including the first electronic caste statistics.

12. The Prime Minister stated that the Israeli military is systematically targeting Iranian infrastructure; the U.S. military used over 900 kilograms of bunker-busting bombs to attack an Iranian ammunition depot.