Economic Overview - In 2025, Shanghai's GDP reached 56,708.71 billion yuan, with a year-on-year growth of 5.4%, surpassing the national growth rate [1] - Shanghai's economic total ranked fifth among global cities for the first time [1] Industry Performance - The primary industry added value was 99.39 billion yuan, growing by 2.0%; the secondary industry added value was 11,650.62 billion yuan, growing by 3.5%; and the tertiary industry added value was 44,958.70 billion yuan, growing by 6.0% [1] - Industrial added value in Shanghai increased by 5.0%, with total industrial output value growing by 4.6% [1] - Notable growth in specific sectors included transportation equipment manufacturing (15.8%), electrical machinery (11.1%), automotive manufacturing (7.8%), and electronics (7.7%) [1] Leading Industries - The three leading industries in Shanghai—integrated circuits, artificial intelligence, and biomedicine—saw a manufacturing output growth of 9.6%, with integrated circuits growing by 15.1% and artificial intelligence by 13.6% [2] - Strategic emerging industries in Shanghai's industrial sector grew by 6.5%, with new energy industries increasing by 12.9% and high-end equipment industries by 11.1% [2] Service Sector Growth - The tertiary sector's added value grew by 6.0%, with information transmission, software, and IT services increasing by 15.3% and the financial sector by 9.7% [2] Consumer Market - Shanghai's total retail sales of consumer goods reached 16,600.93 billion yuan, with a year-on-year growth of 4.6%, improving by 0.3 percentage points compared to the first three quarters [2] Trade Performance - The total import and export value in Shanghai was 4.51 trillion yuan, growing by 5.6%, with exports at 2.02 trillion yuan (10.8% growth) and imports at 2.49 trillion yuan (1.8% growth) [2] - Exports of "new three samples" products reached 0.16 trillion yuan, growing by 17.4%, with electric vehicle exports increasing by 13.8% [2] Future Development Plans - The "14th Five-Year Plan" suggests that by 2035, Shanghai aims to enhance its five central functions and achieve international leading levels in key development indicators, doubling per capita GDP from 2020 [3] - The plan emphasizes agile development in quantum technology, brain-computer interfaces, controlled nuclear fusion, biomanufacturing, and sixth-generation mobile communications [3] - It also supports the establishment of an international financial asset trading platform and the development of market-oriented merger funds, venture capital funds, and foreign investment funds [3]

责任编辑：周守来 人民财讯1月21日电，港股AI概念股持续活跃，截至发稿，MINIMAX-WP涨超5%，智谱、百度集团、 阿里巴巴等跟涨。 人民财讯1月21日电，港股AI概念股持续活跃，截至发稿，MINIMAX-WP涨超5%，智谱、百度集团、 阿里巴巴等跟涨。 责任编辑：周守来 ...

Core Viewpoint - The A-share market is experiencing a peak in earnings forecasts, with over 500 companies disclosing their 2025 performance predictions, highlighting strong growth in technology sectors driven by AI, while other sectors like photovoltaics and pig farming face challenges [1][2]. Group 1: Earnings Forecasts - As of January 20, 2025, 525 A-share companies have disclosed earnings forecasts, with around 200 expecting growth and over 100 projecting net profit increases exceeding 100% [2]. - The highest projected net profit increase is from Huisheng Biological, with an expected profit of 235 million to 271 million yuan, representing a year-on-year growth of 1265.93% to 1444.54% [3][4]. Group 2: Sector Performance - The technology sector, particularly "hard technology," is showing strong profitability, driven by the demand for AI infrastructure and data storage, with companies like Baiwei Storage expecting a net profit of 850 million to 1 billion yuan, a growth of 427.19% to 520.22% [6]. - Zijin Mining, a leading mining company, forecasts a net profit of 51 billion to 52 billion yuan, an increase of approximately 189 billion to 199 billion yuan, reflecting a growth rate of 59% to 62% [4][5]. Group 3: Challenges in Certain Industries - The photovoltaic industry is facing significant challenges, with companies like Tongwei Co. predicting a net loss of 9 billion to 10 billion yuan due to market fluctuations and rising raw material prices [8][9]. - In the pig farming sector, companies such as Muyuan Foods and Wens Foodstuffs are forecasting declines in performance, with some expecting losses due to falling pig prices and increased operational costs [9].

今日关注 申购提示：今日1只新股申购。 财政部：2026年财政总体支出力度"只增不减"。 财政部发布多项政策，提高个人消费贷贴息标准，实施民间投资专项担保计划。 2．财政部副部长廖岷在国新办新闻发布会上表示，财政部门将继续实施更加积极的财政政策。概括起 来就是"总量增加、结构更优、效益更好、动能更强"。2026年财政赤字、债务总规模和支出总量将保持 必要水平，确保总体支出力度只增不减。 3．1月20日，财政部官网同时公布五项财政金融协同促内需一揽子政策，分别从加力提振消费、扩大民 间投资两个方面，推动扩大有效需求。 4．财政部副部长廖岷在国新办新闻发布会上表示，本次优化调整个人消费贷款贴息政策，将信用卡账 单分期业务纳入到了贴息范围，取消现有政策当中对一些消费领域的限制。新政策意味着只要是消费贷 款都可以享受贴息。 5．财政部综合司司长李先忠在国新办新闻发布会上表示，近期财政部、税务总局发布公告，明确自 2026年4月1日起取消光伏等产品出口退税，并分两年取消电子产品出口退税。此次出口退税政策调整， 有利于促进资源高效利用，也有利于引导产业结构合理调整，综合整治"内卷式"无序竞争，推动经济高 质量发展。 6． ...

Market Overview - The US stock market experienced a significant decline on January 20, with all three major indices falling sharply. The Dow Jones Industrial Average dropped by 870.74 points, closing at 48,488.59, marking a 1.76% decrease and the largest single-day drop in three months [2][3] - The S&P 500 index fell by 2.06% to 6,796.86 points, while the Nasdaq index saw a decline of 2.39%, closing at 22,954.32 points [2][3] Currency and Bond Market - The US dollar index decreased by approximately 0.8% during the day, ultimately closing down nearly 0.5% [1] - US Treasury yields rose, with the 10-year yield increasing by 6.76 basis points to 4.2906%, and the 30-year yield rising by 7.92 basis points to 4.9158%, reaching the highest levels since early September of the previous year [1] Sector Performance - Major technology stocks experienced significant declines, with Nvidia and Tesla both dropping over 4%. Other notable declines included Apple and Amazon, which fell by more than 3%, while Meta and Google saw declines of over 2% [3][4] - Financial stocks also faced losses, with Citigroup down over 4%, and both JPMorgan and Morgan Stanley declining by more than 3% [4] - Airline stocks mostly fell, with Delta Air Lines and United Airlines both dropping over 4% [5] - Semiconductor stocks were generally down, with the Philadelphia Semiconductor Index falling by 1.68%. However, Intel saw an increase of over 3% [5] International Market Trends - International gold and silver prices continued to rise, reaching new historical highs due to geopolitical tensions [6][7] - COMEX gold futures surpassed $4,770 per ounce, marking a 2% increase, while silver futures approached $96 per ounce before retreating [7]

近期，贵金属价格不断走强， 当地时间1月20日，受美国最新的关税威胁影响，美股三大指数大幅下挫。 截至收盘，道琼斯指数跌1.76%；标普500指数跌2.06%；纳斯达克指数跌2.39%。科技股普跌，英伟达 和特斯拉均跌超4%，亚马逊和苹果均跌超3%。 多个金属品种强势上涨 1月20日，全球贵金属市场延续强势，黄金、白银价格再度双双刷新历史纪录。伦敦金现货盘中最高达 到4766.23美元/盎司，年初以来上涨超9%；伦敦银现货盘中最高达到95.457美元/盎司，年初以来上涨超 33%。 国内期货市场同样表现强劲。1月20日，沪金期货主力合约上涨1.99%，收报1060.16元/克；沪银期货主 力合约上涨3.62%，收报23062元/千克。此外，钯金、铂金等其他贵金属品种也普遍收涨。 除了贵金属，工业金属与小金属今年以来亦多数走强。1月20日，碳酸锂期货主力合约收盘涨停，年初 以来累计上涨33.04%；沪锡期货主力合约年初以来累计上涨23.56%，不锈钢与镍期货主力合约累计涨 幅也分别录得8.2%和6.41%。 近期，贵金属价格不断走强，主要受外围市场影响。日前，美国威胁对欧洲多国加征关税，使全球市场 情绪恶化，推 ...

人民财讯1月21日电，1月20日，美国三大指数集体收跌，道指跌1.76%，标普500指数跌2.06%，纳指跌 2.39%。大型科技股多数下跌，甲骨文、博通跌超5%，英伟达、特斯拉跌超4%，亚马逊、苹果跌超 3%。英特尔涨超3%，美光科技小幅上涨。热门中概股多数下跌，纳斯达克中国金龙指数跌1.45%，哔 哩哔哩跌超6%，小鹏汽车、蔚来跌超3%，拼多多、理想汽车跌超2%，阿里巴巴、京东跌超1%。 ...

通用Agent已展现出强大的基础任务处理能力，在日常对话、信息整合与简单推理方面有了长足进步，但要应对高度专业化、高精度或高可控要求的复杂场 景，仍需特定技能的增强。 1月19日，字节跳动旗下AI Agent（智能体）平台"扣子"宣布2.0品牌升级。扣子2.0集成了Agent Skill、Agent Plan、Agent Coding、Agent Office能力，让AI真 正成为用户的"工作伙伴"。 Agent Skills本质上是"场景最佳实践+所需工具"的封装，旨在帮助更多用户调用专业技能，定向增强解决复杂专业问题的能力。Agent Plan（即"长期计划"） 则让AI从"即时问答工具"升级为"可持续运作的智能体"，用户只需要确定目标，规定好怎么完成、怎么实现，扣子能够持续执行，并向用户主动汇报、最终 交付任务。 2026年以来，证券市场AI智能体概念热度爆棚，诞生多只牛股，近期随着热度降温，不少概念股已出现明显回撤。 据证券时报·数据宝统计，截至1月20日，最新收盘价较2025年以来高点回撤幅度在20%以上的AI智能体概念股有90余只。传音控股、居然智家、润建股份、 恒信东方、南威软件等回撤幅度居前。 ...

证券时报记者 李映泉 超声电子(000823)拟公开挂牌转让子公司股权的事宜，因受让方未及时缴纳保证金而宣告终止。 1月20日晚间，超声电子公告显示，公司此前通过北京产权交易所公开挂牌、拍卖转让持有的子公司四 川超声印制板有限公司（下称"四川超声"）62%股权，截至挂牌期满，北京产权交易所征集到1家意向 受让方。因该意向受让方未在规定期限内完成保证金缴纳程序，本次股权挂牌转让事项相应终止。 在2025年12月，超声电子还公告宣布，控股子公司汕头超声印制板（三厂）有限公司拟投建高性能HDI 印制板扩产升级技术改造项目，项目总投资额预计为10.1亿元，通过改造优化现有厂房等建筑预留的部 分场地，购置先进的生产设备及检测设备，对高性能HDI印制板生产线进行扩产升级，建成后新增年产 24万平方米的高性能HDI印制板的生产能力。此举旨在快速提升高性能HDI印制板的生产能力与技术水 平，进而满足战略客户供货需求，增强公司整体市场竞争力。 对于此次挂牌转让的原因，公告称，鉴于四川超声使用的土地、厂房均为四川艺精使用，且四川艺精拟 转让其持有的四川超声股权，未来四川超声持续经营将面临很大的不确定性。同时，四川超声资产及营 业 ...

另据CCTV国际时讯，当地时间今天（1月20日）凌晨，特朗普搭乘专机从佛罗里达州返回华盛顿途中，在其社交平台"真实社交"上发图，暗示吞并丹麦 自治领地格陵兰岛。 欧美股市集体大跌。 当地时间1月20日，美股三大股指集体低开，截至发稿，道指跌1.26%，纳指跌1.67%，标普500指数跌1.35%。 | 名称 | 现价 | 涨跌幅▶ | | --- | --- | --- | | 道琼斯工业平均 | 48736.82 | -1.26% | | DJI.GI | | | | 纳斯达克指数 | 23123.68 | -1.67% | | IXIC.GI | | | | 标普500 | 6846.55 | -1.35% | | SPX.GI | | | 美股大型科技股全线下跌，截至发稿，英伟达、博通跌超3%，谷歌A、微软、亚马逊、Meta、特斯拉跌超2%，苹果、台积电小幅下跌。 当天，欧洲主要股指亦大跌。截至发稿，英国富时100指数、法国CAC40指数、德国DAX指数、意大利MIB指数均跌超1%。 消息面上，美国与欧洲在"控制格陵兰岛"问题上的对峙仍没有任何缓和迹象。 据央视新闻，当地时间1月20日，美国总统特朗普再 ...