（原标题：银行流动性：2025年4月中非央行每日注资额创历史新高） 面临法定准备金缴存困难的银行机构数量在三个月内从3家增至5家。为缓解失衡，BEAC动用了所 有再融资工具，包括增加流动性注入操作短期调节操作规模，增加通过专项再融资窗口投放额度等。虽 然这些干预措施避免了信贷急剧紧缩，但暴露出地区银行业金融平衡的脆弱性。中期来看，若货币政策 支持部分退出，可能削弱银行对实体经济（尤其是中小企业）的融资能力，并引发流动性风险。 "EcoMatin"网站7月10日报道，在中非经济与货币共同体（CEMAC）银行业资金平衡压力持续加大 的背景下，中非国家银行（BEAC）于2025年4月加大了货币市场干预力度。根据该行7月3日发布的货 币政策报告显示，央行日均向银行系统注入的流动性规模达到12,161亿中非法郎（约合21.8亿美元）， 较三个月前的11,278亿中非法郎（约合20.2亿美元）增长7.8%，这一举措旨在缓解结构性银行流动性短 缺。 数据显示，2025年1月至4月期间，CEMAC银行体系的毛储备金（未计入货币政策操作前）下降 11.0%（减少1,032亿中非法郎），至2025年4月仅剩8,373亿中非法郎（ ...

但实际数据显示：同期喀麦隆银行业对政府净风险敞口仅为1.9924万亿中非法郎（约为34.4亿美 元），同比下滑10.3%。政府信贷仅占实体经济信贷总额的32.5%。值得注意的是，在政府信贷萎缩的 同时，私营部门信贷却逆势增长22.4%。 "投资喀麦隆"网站7月14日报道，在喀麦隆部分经济金融讨论圈中，当地商业银行因对中小企业信 贷支持不足而备受诟病。这一现象与金融机构频频公布的"优异业绩"形成鲜明对比。 银行业人士对此另有解释。某匿名高管指出，CEMAC地区中小企业难以获贷存在多重原因：首当 其冲是抗风险能力薄弱——经济冲击来临时，小企业往往陷入困境且救济手段有限。而目前中非央行 （BEAC）最乐观的预测也承认，美元贬值导致的非洲法郎海外收入缩水等经济冲击将持续。选举年政 治不确定性叠加中小企业普遍缺乏规范化运营，更加剧了这一局面。 以加蓬BGFI集团喀麦隆子公司为例，其宣布2024年实现净利润110亿中非法郎（约为0.2亿美元）， 较2023年增长9%。法国兴业银行当地子公司净利润达29.8亿中非法郎（约为513.8万美元）等。比利润 增长更值得关注的是，喀麦隆银行业其实拥有充沛的储备金来激活国民经济信贷引 ...

Group 1 - The core viewpoint of the articles highlights the significant growth in revenue and container throughput for PPAP in the first half of 2025, with revenue exceeding $22 million, representing a growth of over 20% compared to the same period last year [1] - In the first half of 2025, total revenue reached approximately $22.09 million, a 21% increase from about $18.32 million in the same period of 2024 [1] - Port operations generated $18.27 million in revenue, up 22% year-on-year, while port authority services contributed $3.13 million, also up 22% [1] Group 2 - Container throughput increased by nearly 30%, with cargo and fuel throughput reaching 2.633 million tons, a year-on-year growth of 16.8% [1] - The number of container throughput reached 258,000 TEUs, reflecting a year-on-year increase of 26.2% [1] - In 2024, PPAP's revenue was approximately $41 million, marking a 21% increase from 2023, with container throughput growing by nearly 500,000 TEUs [2] Group 3 - The company operates seven terminals, three in Phnom Penh and four in other provinces, playing a crucial role in the transportation of agricultural products and heavy cargo [2] - The increase in transportation activities is attributed to the growth in agricultural output and manufactured goods in Cambodia, as well as rising demand for imported goods [1]

Agricultural Products Market - The national market price of edible agricultural products increased by 0.1% from the previous week [1] - The average wholesale price of 30 types of vegetables was 4.12 yuan per kilogram, rising by 0.7%, with tomatoes, lettuce, and loofah increasing by 10.7%, 5.6%, and 5.3% respectively [1] - Wholesale prices of aquatic products slightly increased, with silver carp, common carp, and crucian carp rising by 0.9%, 0.7%, and 0.7% respectively [1] - The wholesale price of pork was 20.84 yuan per kilogram, up by 0.8%, while beef also rose by 0.8%, and lamb decreased by 0.3% [1] - Grain and oil wholesale prices remained stable with slight declines in rapeseed oil, soybean oil, and rice by 0.4%, 0.2%, and 0.2% respectively [1] - Poultry product wholesale prices saw slight declines, with eggs and white-feathered chickens decreasing by 1.5% and 0.4% respectively [1] - The average wholesale price of six types of fruits slightly decreased, with bananas, grapes, and citrus fruits falling by 2.8%, 2.0%, and 0.8% respectively [1] Production Materials Market - Prices of non-ferrous metals slightly decreased, with copper, aluminum, and zinc falling by 2.1%, 0.1%, and 0.1% respectively [2] - Wholesale prices of refined oil slightly declined, with 0 diesel, 92 gasoline, and 95 gasoline decreasing by 0.3%, 0.1%, and 0.1% respectively [2] - Basic chemical raw material prices showed slight fluctuations, with soda ash, methanol, and polypropylene decreasing by 0.9%, 0.7%, and 0.4%, while sulfur increased by 0.2% [2] - Fertilizer prices remained stable, with urea unchanged from the previous week and compound fertilizer decreasing by 0.1% [2] - Rubber prices experienced slight fluctuations, with natural rubber increasing by 0.5% and synthetic rubber decreasing by 0.3% [2] - Coal prices generally increased, with coking coal and thermal coal priced at 930 yuan and 753 yuan per ton, rising by 0.3% and 0.1% respectively, while second-grade smokeless block coal decreased by 0.1% at 1130 yuan per ton [2] - Steel prices slightly increased, with high-speed wire, hot-rolled strip steel, and rebar priced at 3569 yuan, 3519 yuan, and 3382 yuan per ton, rising by 0.2%, 0.1%, and 0.1% respectively [2]

Economic Growth Outlook - Morocco's economy is expected to maintain robust growth, with projected growth rates of 4.4% in 2025 and 4% in 2026, driven by agricultural recovery and strong domestic demand despite external uncertainties [1][2] Agricultural Sector - The 2024/2025 agricultural season is anticipated to see a grain production of 4.4 million tons, a 41% increase year-on-year, contributing 0.5 percentage points to GDP growth in 2025 and 0.3 percentage points in 2026 [1] - Agricultural value added is expected to grow by 4.7% in 2025 and 3.3% in 2026 [1] Non-Agricultural Sectors - The non-agricultural sectors are projected to grow by 4.3% in 2025 and 4.0% in 2026, with industrial, construction, and service sectors as key drivers [2] - The secondary sector is expected to contribute 1.1 percentage points to GDP growth in both years, with specific growth rates of 4.2% and 4.1% for 2025 and 2026 respectively [2] - The construction sector is projected to grow by 4.9% in 2025 and 4.1% in 2026, supported by events like the Africa Cup in 2025 and the World Cup in 2030 [2] Domestic Demand - Domestic demand is anticipated to be the core growth driver, with expected growth rates of 5.4% in 2025 and 4.6% in 2026, contributing 5.8 and 5 percentage points to GDP respectively [2] - Household consumption is projected to increase by 3.6% in 2025 and 3.4% in 2026, while government consumption is expected to maintain a growth rate of around 4% [2] - Fixed asset investment is forecasted to grow by 9.8% in 2025 and 7.2% in 2026, following a 10.9% increase in 2024 [2] Trade and External Factors - Net exports are expected to continue dragging down economic growth, with the trade deficit projected to rise from 19.1% of GDP in 2024 to 20.1% in 2026 [3] - The current account deficit is expected to remain in the range of 1.8% to 1.9% [3] Fiscal Outlook - Fiscal revenue is projected to increase to 19.3% of GDP in 2025 and 19.4% in 2026, with the fiscal deficit rate expected to decrease from 4% in 2024 to 3.4% in 2026 [3] - Government debt is expected to improve, with domestic debt decreasing by 3 percentage points over three years [3] Monetary Policy - Non-financial sector credit is expected to grow by 7% in 2025, with broad money supply growth remaining above 6% [3] - Foreign exchange reserves are projected to cover five months of import needs [3]

Core Insights - The article discusses the implementation of the Tibet 2025 National Subsidy Policy and the "Happy Tibet, Enjoy Life" consumption promotion activities, which are aimed at stimulating the consumer market through various subsidies and initiatives [1] Group 1: National Subsidy Policy - The Tibet 2025 National Subsidy Policy focuses on "trade-in" incentives across five key consumption areas, including automobiles, home appliances, and home decoration [2] - As of June 30, 2023, the policy has allocated a total of 440 million yuan in subsidies, with 260 million yuan utilized for 320,000 trade-in transactions, resulting in retail sales of 1.59 billion yuan [1][2] - Specific subsidies for automobile purchases include up to 20,000 yuan for trading in older vehicles and additional incentives for purchasing new energy vehicles [2] Group 2: "Happy Tibet, Enjoy Life" Activities - The "Happy Tibet, Enjoy Life" initiative has organized 202 events by June 30, 2023, utilizing 380 million yuan in subsidies and directly stimulating consumption by 3.2 billion yuan [1][6] - The program offers tiered subsidies for new vehicle purchases, with additional benefits for new energy vehicles, enhancing affordability for consumers [3] - The initiative also includes broad consumer engagement through discounts and promotional activities in sectors like dining and retail, with single transaction discounts reaching up to 20% [6] Group 3: Home Appliances and Other Products - The national subsidy covers a wide range of home appliances, providing 15% to 20% discounts based on energy efficiency ratings, with a maximum subsidy of 2,000 yuan per item [4] - In the 3C digital product category, consumers can receive a 15% subsidy on items priced under 6,000 yuan, with a cap of 500 yuan per item [4] - For electric bicycles, a 30% subsidy is available for trade-ins, capped at 1,000 yuan, while home improvement products receive a 20% subsidy, with higher rates for low-income households [5]

已获得资质的四家银行在支付领域各具特色：Attijari Payment 是首家获得 支付机构牌照的公司，有20年技术经验，拥有TPE与在线支付等全套服务； Damane Cash拥有4200个遍布全国的服务网点，主打本地化服务，面向小商 户、手工艺人及酒店业者；Chaabi Payment以企业客户为主，采用多渠道整合 战略，整个TPE、收银系统和电商平台，拥有完整的支付生态系统；Lana Cash 则是CIH银行旗下的新兴力量，是被授权可独立开展银行卡收款业务的服务 商，具备处理国内外银行卡交易能力。 此次改革被视为摩金融体系现代化的重要里程碑。 据摩媒7月10日综合报道，2025年摩洛哥正式打破电子支付市场长期由跨 行货币中心（CMI）垄断格局，Attijariwafa银行、非洲银行（BOA）、摩大众 银行（BCP）及摩房地产和酒店信贷银行（CIH）通过旗下子公司——Attijari Payment、Damane Cash、Chaabi Payment（M2T）及Lana Cash，正式进军商户 支付服务市场，标志着支付行业迈入竞争新时代。 2024年底摩竞争委员会决定实施开放政策，2025年5月上述银 ...

他还敦促通过青年驱动的创新和技术努力利用新兴工作模式，以应对向数字贸易过渡时可能遇到的 挑战。非盟委员会负责人强调，必须确保非洲的青年企业家能够获得负担得起的资本，并提高他们对价 值创造的贡献。 "ENA"网站7月8日报道，由非洲联盟（AU）、埃塞俄比亚政府和非洲大陆自由贸易区（AfCFTA） 秘书处联合举办的为期三天的第三届非洲创造就业论坛正在亚的斯亚贝巴举行。论坛的主题是 "通过非 洲自由贸易区市场农业价值链上的区域一体化、数字和金融包容性，促进创造就业机会和经济恢复 力"。 据悉，鉴于非洲60%以上的人口年龄在25岁以下，通过可持续创造就业来解决青年就业问题对于确 保非洲大陆的经济未来和社会和谐至关重要。埃塞俄比亚副总理特梅斯根·蒂鲁内在论坛上发表主旨演 讲时指出，非洲是一个充满青春和梦想的大陆。"我们的年轻人不是负担。他们是我们的力量。他们是 我们的希望。他们代表着增长和变革的潜力。"通过一体化促进创造就业机会和经济复原力仍然是发展 的当务之急。非洲对全球价值链的贡献不足 3%，采取渐进行动的时机已经过去。我们必须采取大规模 行动，"非盟委员会主席马哈茂德·阿里·优素福（Mahmoud Ali You ...

尽管IMF认可喀麦隆政府的努力，特别是在结构性改革方面的进展（根据SND30计划已完成近40项 指标），但该机构也指出喀财政成果好坏参半。报告显示，由于经常性支出超支，2024年底非石油初级 赤字达到GDP的2.4%，高于2%的目标。这一财政滑坡导致新拖欠款累积，并降低了公共投资能力。 此外，在2025年度财政修正案提交议会审议之际，IMF确信当局将根据2024年结果修订2025年预 算，并宣布支持措施以解决财政滑坡根源，确保2025年实现拖欠款项净减少。 （原标题：国际货币基金组织批准向喀麦隆拨款1.47亿美元，尽管现有成效"喜忧参半"） 除未达标外，喀麦隆还面临诸多挑战。其中最紧迫的是推进国家炼油公司（Sonara）重组，该公司 自2019年5月底遭遇严重火灾后一直处于困境。中部非洲国家银行（BEAC）行长Yvon Sana Bangui也强 调必须修复喀麦隆唯一的炼油厂，以减少石油产品进口——据他估计，这每年给中部非洲经货共同体六 国造成约2万亿中非法郎（约为33.33亿美元）的损失。IMF补充称，其他挑战还包括持续推进重大基础 设施项目建设，通过解决长期存在的薄弱环节来加强金融业，并全面实施国家金融包 ...

Group 1 - The attractiveness of the US as an investment destination for UK executives has significantly declined, with only 2% considering it appealing, down from 59% at the end of 2024 [1] - UK market attractiveness has increased from -12% to 13%, now tied with India as the most attractive investment destination [1] - The decline in US investment appeal aligns with a sharp drop in foreign direct investment inflows expected in early 2025, linked to uncertainties from Trump's tariff policies [1] Group 2 - Business confidence among UK executives has improved slightly, with the optimism index rising from -14% to -11% [2] - The survey conducted by Deloitte included 66 CFOs and executives, representing 37 listed companies with a total market capitalization of £386 billion [2] - Despite the slight increase in confidence, the overall economic growth remains weak, posing challenges for the government [2]