在社融增量方面，李超预计，8月份新增社融2.47万亿元，同比少增约0.56万亿元。 今年三季度以来，货币政策继续保持适度宽松，为实体经济提供了适宜的货币金融环境。 7月份，社会融资规模、广义货币(M2)增速均维持在较高水平，新增信贷减少500亿元，社融增量1.16万 亿元。当前，8月份金融数据发布在即。综合《证券日报》记者对分析人士的采访及多家机构的前瞻数 据来看，业界普遍预计8月份新增信贷及社融环比回升。 在新增信贷方面，东方金诚首席宏观分析师王青预计，8月份新增信贷规模有望达到1万亿元，主要支撑 来自企业贷款。伴随隐债置换影响减弱，新增企业中长期贷款将恢复正值。8月份票据利率低位下行， 预示当月票据融资可能仍将处于高位。居民贷款方面，9月份个人消费贷款贴息政策开始实施，可能导 致部分消费贷推后，影响8月份消费贷投放，加之当前房地产市场处于稳固阶段，8月份新增居民贷款可 能仍会处于偏低水平。整体上看，预计"企业强、居民弱"的信贷格局在8月份将延续。 浙商证券（601878）首席经济学家李超预计，8月份人民币贷款将增加5000亿元，信贷供给端延续维稳 基调。 财通证券（601108）研报分析，8月底票据利率呈 ...

本报记者 吴晓璐 9月5日，在中国证监会指导下，沪深北交易所就修订《上市公司可持续发展报告编制指南》（以下简称《指南》）公开征 求意见。此次修订新增《第三号污染物排放》《第四号能源利用》《第五号水资源利用》三个应用指南。 与首批《指南》侧重点有所不同，此次新增的三个应用指南，重点针对相关领域风险和机遇的识别与评估、核算流程与方 法、披露要点等重点难点问题，提供细化指导以及参考示例，推动上市公司提升可持续发展意识，促进规范披露。另外，《指 南》仅为上市公司编制可持续发展报告（以下简称"ESG报告"）提供参考，不增加额外强制披露要求。 在业内人士看来，《指南》为上市公司编制ESG报告提供了全面且细致的指导性框架及具体参考示例，有助于增强上市公 司ESG意识，提高ESG信披质量和评级，最终提高企业竞争力和吸引力，助力企业实现高质量发展。 据记者了解，后续，监管部门将推进其他重要议题指南的制定工作，逐步实现对《上市公司可持续发展报告信息披露指 引》（以下简称《指引》）重点内容的全覆盖。 为上市公司ESG报告提供参考 新"国九条"提出，健全上市公司可持续信息披露制度。为此，证监会在多年制度建设和上市公司信息披露实践的基 ...

Market Performance - On September 5, the A-share market experienced a strong upward trend with all three major indices rising. The Shanghai Composite Index closed at 3812.51 points, up 1.24%, the Shenzhen Component Index rose 3.89% to 12590.56 points, and the ChiNext Index surged 6.55% to 2958.18 points [1] - The total market turnover reached 23,484 billion yuan, with 4,857 stocks rising, including 107 stocks hitting the daily limit [1] Sector Performance - The ChiNext Index showed particularly strong performance, with a trading volume of 247.89 billion shares and a turnover of 6,764.04 billion yuan. Among the 1,385 stocks in the ChiNext, 1,337 stocks saw price increases, accounting for 96.53% [1] - The battery sector led the gains with a rise of 9.14%, achieving a turnover of 1,777 billion yuan, and 101 stocks in the sector increased in price, including 16 stocks hitting the daily limit. The sector has accumulated a year-to-date increase of 62.01% [1] - Other sectors such as energy metals, photovoltaic equipment, and wind power equipment also performed well, with increases of 7.69%, 6.26%, and 5.75% respectively [1] Capital Flow - The top three industries for net inflow of main funds on that day were batteries, components, and photovoltaic equipment, with net inflows of 259.96 billion yuan, 103.35 billion yuan, and 88.62 billion yuan respectively [2] Market Outlook - Analysts suggest that the current A-share market is in a favorable environment characterized by intertwined policy benefits and ample liquidity, predicting a short-term trend of upward fluctuations. Investment opportunities are recommended in the battery, energy metals, and semiconductor sectors [2] - In the medium to long term, the market's upward potential is supported by the revaluation of Chinese assets and the high-quality development of the securities market [2] - Suggested investment strategies include focusing on high-elasticity growth technology sectors such as TMT, AI, computing power, robotics, and military industry, as well as sectors with strong support or better-than-expected performance, including rare earth permanent magnets, precious metals, engineering machinery, motorcycles, and agricultural chemicals [2]

Core Viewpoint - The public fund industry in China is undergoing a significant fee rate reform, marking a crucial step towards high-quality development and aiming to reduce investor costs while regulating the sales market [1][2]. Group 1: Fee Rate Reform Details - The China Securities Regulatory Commission (CSRC) has initiated a three-phase fee rate reform, which is expected to benefit investors by over 50 billion yuan annually [1]. - The revised regulations, now titled "Publicly Raised Securities Investment Fund Sales Expense Management Regulations," include a total of six chapters and 28 articles, focusing on reducing costs for investors and optimizing fund sales practices [2]. - Specific fee reductions include lowering the maximum subscription and purchase fees for equity funds from 1.2% and 1.5% to 0.8%, for mixed funds from 1.2% and 1.5% to 0.5%, and for bond funds from 0.6% and 0.8% to 0.3% [3]. Group 2: Encouragement of Long-term Investment - The reform encourages long-term holding by eliminating sales service fees for investors who hold equity, mixed, and bond funds for over one year [5]. - The redemption fee structure has been optimized to ensure that all redemption fees are allocated to the fund's assets, discouraging short-term trading behaviors [5]. - The reform aims to shift the focus of fund sales institutions from generating income through "traffic" to earning "retention" income by providing ongoing services [5][6]. Group 3: Development of Direct Sales Channels - The CSRC has launched the Fund Industry Institutional Investor Direct Sales Service Platform (FISP), which aims to streamline the direct sales process and improve service efficiency for institutional investors [6]. - The FISP platform is designed to address high operational costs and inefficiencies in traditional direct sales, providing a standardized and automated service for fund investments [6]. Group 4: Overall Impact on the Industry - The reform is expected to lead to an overall fee reduction of approximately 300 billion yuan annually, representing a 34% decrease in fees, thereby providing tangible benefits to investors [4]. - The adjustments in fee structures and the establishment of the FISP platform are anticipated to enhance the quality and stability of the public fund industry in the long term [7].

日前，海南省人民代表大会常务委员会网站就《海南自由贸易港旅游条例(草案)》(以下简称《条例》) 公开征求意见。《条例》涉及旅游规划与资源保护、旅游发展与促进、旅游业开放与国际化、旅游经营 与权益保护、旅游安全与应急处置、旅游监督管理等多个方面的内容。 其中，在旅游业开放与国际化方面，《条例》指出，海南自由贸易港实施更大范围的旅游免签入境政 策。具体来看，经国务院特别批准的国家的公民，可以免办签证从海南自由贸易港对外开放口岸入境， 在规定期限内在海南自由贸易港旅游。符合条件的外国人可以免办签证，从海南自由贸易港内实施过境 免办签证政策的城市口岸入境，在规定期限内在海南自由贸易港旅游。 此外，《条例》提出，鼓励离岛免税经营主体与旅游业态融合发展，延伸产业链，提升离岛免税购物的 综合效益与体验价值。 "海南积极对标国际，着力打造免税购物、国际医疗等核心品牌，并以此为基础构建多样化的旅游消费 品牌与产品体系。这些举措深度融合双向互动，正汇聚为加快建设国际旅游消费中心的强大新动能，催 生出一系列新业态与新产品。"一位旅游行业分析师对《证券日报》记者表示。 "创新是国际旅游消费中心建设的最根本特征。"中国旅游研究院余超博 ...

Core Viewpoint - The lithium battery sector is experiencing a phase of recovery driven by global energy transition and electrification trends, with expectations for a cyclical rebound in the industry by the first half of 2025 [1][2]. Industry Recovery - Recent strength in lithium battery stocks indicates a stage of recovery in the industry, with inventory levels decreasing and downstream demand improving, particularly in the electric vehicle (EV) and energy storage markets [2]. - In the first half of the year, China's EV sales reached 6.937 million units, a year-on-year increase of 40.3%, which has positively impacted the power battery market [2]. - The power battery shipment volume in China for the first half of the year was 477 GWh, reflecting a year-on-year growth of 49% [2]. - The energy storage market saw a "rush to install" trend, with energy storage battery shipments reaching 265 GWh, a significant year-on-year increase of 128% [2]. Policy Support - The Ministry of Industry and Information Technology and the State Administration for Market Regulation issued a growth action plan for the electronic information manufacturing industry for 2025-2026, projecting an average growth rate of over 5% for the lithium battery sector [3]. - The plan aims to promote high-quality development in the photovoltaic and lithium battery industries while managing competition effectively [3]. Positive Performance Indicators - Some listed companies in the lithium battery supply chain have shown improved profitability, particularly in the anode materials segment, which has emerged from its adjustment phase [4]. - In the first half of the year, China's anode material shipments reached 1.29 million tons, a year-on-year increase of 37% [4]. - Notable performance includes Ningbo Shanshan Co., Ltd., which reported revenue of 9.858 billion yuan, a year-on-year increase of 11.78%, and a net profit of 207 million yuan, reflecting a dramatic year-on-year increase of 1079.59% [4]. Short-term Demand Outlook - September and October are traditionally peak demand months for lithium batteries, with projected battery production in China reaching 152 GWh in September, a month-on-month increase of 13.4% and a year-on-year increase of 38.2% [5]. - The industry is expected to maintain a positive trend, driven by continuous demand growth and technological innovations such as solid-state batteries [5]. Supply and Demand Dynamics - Current supply levels of battery-grade lithium carbonate are balanced with growing downstream demand, although there may be potential for price declines in the medium to long term [6]. - The key to future development for lithium battery companies lies in maintaining supply chain efficiency while advancing technological innovations and exploring new market opportunities [6].

Group 1 - The meeting between the Ministry of Finance and the People's Bank of China (PBOC) emphasizes the coordination of fiscal and monetary policies to support economic recovery in a complex market environment [1][2] - The shift from a "single tool" approach to a "multi-policy collaboration" indicates a more synchronized rhythm, direction, and intensity of fiscal and monetary policies [2] - The meeting highlights the importance of the joint working group mechanism in enhancing cooperation and ensuring effective implementation of policies [2] Group 2 - From August to December 2024, the PBOC conducted net purchases of government bonds totaling 1 trillion yuan, providing crucial support for market liquidity [3] - The PBOC announced a temporary suspension of government bond purchases starting January 2025, with plans to resume based on market conditions [3] - The cost of issuing government bonds has increased, with the weighted average issuance rate for coupon bonds rising by 5 basis points to approximately 1.7% in August 2025 compared to July [3] Group 3 - The probability of the PBOC restarting government bond purchases within the year is considered high, with expectations for implementation in the fourth quarter [4] - Restarting government bond purchases is expected to release medium- to long-term liquidity, alleviating funding pressures in the banking system [4]

（文章来源：证券日报） 证券日报网讯 9月5日晚间，科美诊断发布公告称，公司聘任黄正铭先生为公司副总经理。 ...

证券日报网讯 9月5日晚间，江苏索普发布公告称，公司2025年第一次临时股东大会审议通过了《关于 修订<公司章程> 及取消监事会的议案》等多项议案。 （文章来源：证券日报） ...

（文章来源：证券日报） 证券日报网讯 9月5日晚间，曙光股份发布公告称，公司不存在对控股股东和实际控制人及其关联人提 供的担保。无逾期对外担保情况。 ...