Key takeaways from the NBS press conference:

NBS expects the y/y decline in China's PPI will continue to narrow.
CPI will likely continue to increase moderately in the next phase.
Since mid-May, some positive changes have been observed in China's real estate market.
In May, the contribution rate of investment in equipment and tools to overall investment growth reached 52.8%.
The value-added of the smart unmanned aerial vehicle manufacturing industry increased by 75% year-over-year in May.
Investment is projected to continue expanding in scale and optimizing in structure in the next stage.