澳洲联储主席布洛克：政策存在滞后效应，今年加息的全面影响尚未显现。

At a July 28 State Council Information Office briefing, Lin Weilong, director of MOFCOM’s Policy Research Office, said China’s industrial capacity utilization is broadly within a reasonable range. Capacity utilization at industrial enterprises above designated size averaged 74.4% in 2025; utilization is stronger in high‑tech manufacturing, high‑end equipment and strategic emerging industries, while some traditional raw‑material sectors show temporary underuse linked to structural adjustment and the green transition—a normal phase of industrial upgrading. Overall, China’s industrial supply and demand are basically balanced and operating stably.

Baker Hughes says energy security supports continued investment in upstream and infrastructure markets.