On September 20th, C&D Newin rose nearly 10%, ND Paper rose more than 5%, with a cumulative rebound of over 16% in the past 6 days from the bottom, Lee & Man Paper rose nearly 3%, while Sunshine Paper showed gains. According to the data released by the Ministry of Industry and Information Technology, the national output of machine-made paper and paperboard in January-July 2024 reached 89.579 million tons, an increase of 11.8% year-on-year. A research report from Changjiang Securities pointed out that after entering September, a new round of textbook and teaching materials orders is expected to be open for bidding, which will drive demand. It is also expected that packaging paper will see improved demand in the peak season after August. According to the "Fourteenth Five-Year Plan" and the medium- to long-term high-quality development outline of the papermaking industry, it is expected that by 2025, China's total production of paper and paperboard will reach 0.14 billion tons, with a per capita consumption of 100 kg per year.