Germany's construction PMI for February was 43.7, compared to 44.7 in the previous month.

Key News 1. The Government Work Report outlines the main development targets for 2026: economic growth of 4.5%-5%, CPI increase of around 2%, and a deficit ratio of approximately 4%; continuing to implement a moderately loose monetary policy. 2. The Government Work Report: The draft outline of the 15th Five-Year Plan proposes 20 major indicators and 109 major projects. 3. The Government Work Report: Cultivate and develop future industries such as future energy, quantum technology, and 6G, and promote the accelerated promotion of next-generation intelligent terminals and intelligent devices. 4. Minister of Industry and Information Technology Li Lecheng: Consolidate and deepen the previous achievements in "anti-involution," and strengthen capacity monitoring, early warning, and comprehensive management. Individual Stock News 1. Data on main force capital flow shows that Xin Yisheng saw the largest net inflow of main force capital at 2.569 billion yuan, followed by Yanshan Technology, Shanghai Electric, China XD Electric, and CATL; Zijin Mining saw the largest net outflow of main force capital at 1.702 billion yuan, followed by Huasheng Tiancheng, Baiwei Storage, Tuowei Information, and Luoyang Molybdenum. 2. Muxi Technology invests in Physics AI infrastructure supplier Feijiekesi. 3. GigaDevice invests in in-memory computing AI chip company MicroNano Core. 4. Rongbai Technology: Expected to achieve mass production of pure lithium manganese iron phosphate (LFP) solutions for vehicles in 2026. 5. Joyson Electronics and Enli Power reach strategic cooperation to jointly tackle solid-state batteries for embodied intelligent robots. 6. Chengdu Huahong and Xuntai Quantum reach strategic cooperation to accelerate the industrialization of quantum communication. 7. Wanma Technology plans to issue H-shares and list on the Hong Kong Stock Exchange; accounts receivable account for 44% of the company's revenue.

The Federal Reserve accepted a total of $2.793 billion from five counterparties in its fixed-rate reverse repurchase operations.