Core Insights - Hangzhou has become a global hub for cross-border e-commerce ten years after initiating its "buy global, sell global" strategy, with the 2025 Global Cross-Border E-Commerce Trade Expo set to celebrate the 10th anniversary of the cross-border e-commerce comprehensive pilot zone [1] Group 1: Event Overview - The expo will take place from July 10 to 11, 2025, at the Hangzhou International Exhibition Center, featuring a recruitment fair titled "E-gathering Global Talent" to address recruitment challenges in the cross-border e-commerce sector [1] - The recruitment event will include over 5,000 job openings across popular fields such as cross-border operations, live marketing, and supply chain management, with participation from 100 universities and 100 cross-border e-commerce companies [1] Group 2: Participation and Activities - The expo is expected to host over 2,000 exhibitors and attract more than 100,000 visitors, with over 100 comprehensive pilot zone cities showcasing their unique industrial belts [1] - Various activities will be held, including a cross-border talent forum, a talent matchmaking event, and a school-enterprise cooperation negotiation meeting to facilitate deep connections between universities and businesses [1] Group 3: Educational Initiatives - The event will feature a global cross-border e-commerce platform seminar with participation from top platforms like Amazon, SHEIN, and TEMU, allowing universities to gain insights into the latest industry resources [2] - The fifth National Cross-Border E-Commerce Talent Development Summit will be held, where the "China Cross-Border E-Commerce Talent Development White Paper" will be released, discussing challenges and restructuring in talent development due to artificial intelligence and globalization [2]

Economic Overview - Hangzhou's economy shows a stable and positive development trend amid a complex macroeconomic environment, supported by various policy measures [1] - The city's industrial output value has significantly increased compared to the same period last year, driven by support for high-tech and strategic emerging industries [1] Industrial Performance - From January to May, the added value of industrial enterprises above designated size in Hangzhou grew, with notable increases in sectors such as computer communication and electronic equipment manufacturing (17.2%), automotive manufacturing (23.5%), and electrical machinery (13.8%) [1] - Emerging products like new energy vehicles, lithium-ion batteries, and industrial robots saw rapid production growth, with lithium-ion battery output up by 19.0%, integrated circuit output up by 24.2%, and industrial robot output soaring by 131.1% [1] Fixed Asset Investment - Fixed asset investment in Hangzhou increased by 0.2% year-on-year, with project investment rising by 5.7% [2] - Industrial investment grew by 8.5%, accounting for 16.2% of total fixed asset investment, an increase of 1.3 percentage points from the previous year [2] - Manufacturing investment rose by 7.0%, with significant growth in general equipment manufacturing (36.6%), electrical machinery (26.9%), and automotive manufacturing (14.9%) [2] Service Sector Growth - The service sector remains a crucial pillar of Hangzhou's economy, with revenue from large-scale service industries (excluding wholesale, retail, accommodation, catering, finance, and real estate) reaching 695.1 billion yuan, a 7.5% increase year-on-year [2] - The digital economy and high-tech service industries outperformed overall service revenue growth, with increases of 11.7% and 10.2%, respectively [2] Consumer Market Dynamics - The consumer market has shown increased vitality due to various consumption promotion policies, with total retail sales of consumer goods reaching 374.5 billion yuan, a 7.4% year-on-year increase [3] - Major consumer goods such as home appliances and communication devices saw retail sales growth of 108.9% and 104.9%, respectively, while automotive sales increased by 8.0%, with new energy vehicles growing by 38.6% [3] Trade and Export Performance - Hangzhou's total import and export volume increased, with a focus on expanding overseas markets and strengthening trade cooperation with countries along the "Belt and Road" initiative [3] - Exports to "Belt and Road" countries reached 123.8 billion yuan, growing by 23.7%, which is 8.8 percentage points higher than the overall export growth rate [3]

商报讯(记者吕文鹃)阿里巴巴又有一项新变动。 6月23日，阿里巴巴集团CEO吴泳铭发布全员邮件，宣布即日起，饿了么、飞猪合并入阿里中国电商事 业群。范禹(花名)继续担任饿了么董事长兼CEO，向蒋凡汇报。南天(花名)继续担任飞猪CEO，向蒋凡 汇报。饿了么飞猪继续保持公司化管理模式，业务决策执行上与中国电商事业群集中目标、统一作战。 这一新变动标志着阿里电商平台开始向大消费平台转变。 阿里官宣重大业务调整涉及旗下旅行、即时零售板块 对于此次调整，吴泳铭在全员邮件中说，"这是我们从电商平台走向大消费平台的战略升级。未来，我 们将更多从用户角度出发优化整合业务模式和组织形态，为用户创造更丰富优质的生活消费体验。" 去年11月21日，阿里宣布成立阿里电商事业群，任命蒋凡担任CEO。该电商事业群全面整合淘宝天猫集 团、国际数字商业集团以及1688、闲鱼等电商业务，形成覆盖国内外全产业链的业务集群。继几大业务 并入电商事业群后，饿了么与飞猪的回归也被视为阿里向大消费平台转变的标志。 阿里将旗下旅游平台并入了被委以重任的阿里电商事业群，也让许多人联想到了上周刚刚官宣入局酒旅 的京东。上周三，在618大促即将收官的当日，京东 ...

Market Overview - A-shares experienced a broad rally, with the Shanghai Composite Index rising nearly 1% at one point, closing at 3381.58 points, up 0.65% [1] - The Shenzhen Component Index closed at 10048.39 points, up 0.43%, and the ChiNext Index closed at 2017.63 points, up 0.39% [1] - The total market turnover reached 114.69 billion yuan, an increase of 55.2 billion yuan compared to the previous trading day [1] Digital Currency Sector - The digital currency concept stocks surged, with the sector ranking third among industry concepts, closing up 5.2% for the day and 10.44% over the past month [2] - Notable individual stock performances included Youbuxun and Sifang Jingchuang, both hitting the 20% daily limit up, while Tianyuandike rose by 14.56% [2] - The recent surge in the digital currency sector is attributed to favorable news, particularly the launch of cross-border payment services between mainland China and Hong Kong [2][3] Oil and Shipping Sectors - The oil sector showed strong performance, with the oil and gas extraction and service sector rising 3.15% and a monthly increase of 27.52% [4] - Key stocks included Maohua Shihua and Zhun Oil, both achieving consecutive daily limit ups [4] - The shipping sector also saw gains, with stocks like Ningbo Shipping and Lianyungang hitting daily limits, driven by geopolitical tensions in the Middle East [4][5] Energy Metals Sector - The energy metals sector, particularly cobalt, experienced significant gains, with stocks like Tengyuan Cobalt rising over 15% [6] - The Democratic Republic of Congo extended its temporary ban on cobalt exports, which is expected to tighten supply and increase price expectations [6] - Analysts predict that the extended ban will lead to a substantial supply shortage in the cobalt market, potentially triggering a new price surge [6]

Group 1 - The civil aviation market is entering a peak season with the end of high school and middle school exams, as well as the upcoming summer vacation [1] - According to the report by Tongcheng Travel, the first wave of travel peak for the summer of 2025 is expected in early July, primarily driven by student travelers [1] - Ticket prices for long-distance destinations such as Kunming, Urumqi, and Xi'an have started to rise, with significant increases noted in ticket prices compared to mid-June [1] Group 2 - Airlines are responding to the increased demand by adding and enhancing flight schedules, with Xiamen Airlines introducing six new Airbus A321neo aircraft to improve passenger experience [2] - Xiamen Airlines has increased domestic flights from Hangzhou to various destinations, including Kunming and new routes to Xining, Dalian, and Qingdao [2] - An estimated 6 million passengers are expected to fly for the first time during this summer travel season, indicating a growing demand for hub airport services [2]

今年下半年即将开业的杭州嘉里城 和平大厦 和平大厦重回"颜值巅峰" 楼宇聚集区拔地而起 释放90万平方米的商办空间 商报记者 潘婷婷 通讯员 童伟 王楚 第一步，让外立面重回"颜值"巅峰，"原先外墙的漆面看起来很斑驳，不仅看起来陈旧，还给人一种沧 桑老态的感觉。"文晖街道城市建设管理办公室副主任童伟说，他们更新了外墙铝塑板面漆，同时对玻 璃进行了深度清洗与修缮，外立面就特别清爽、大气。 第二步，入户大厅进行"美容"，"白天走进大厅都是黑乎乎的，没有那种高大上商务楼的感觉。"童伟表 示，现在他们把大厅硬装部分进行翻新，进来明显敞亮了。 每个时代，都会有承载着一代人城市记忆的地标，和平大厦就是一个。这两天，它传来好消息——历时 300天改造，和平大厦焕新归来。 这座始建于2001年的标志性建筑，位于绍兴路和潮王路交叉口，现在远远望去，建筑外立面简洁又不失 大气，线条流畅清爽，完美融入"大和平商圈"的整体建筑风格。 和平大厦见证繁华与变迁 如今重回"颜值巅峰" 站在和平大厦的21层，繁华的城市中心景象尽收眼底，它见证了大和平区块的繁华与变迁。 然而，随着大和平商圈的打造，步入中年的它，显得格格不入：外立面陈旧，铝板 ...

Core Viewpoint - The rapid development and comprehensive promotion of China-Central Asia cooperation, driven by the China-Central Asia mechanism, with the Industrial and Commercial Bank of China (ICBC) playing a significant role in supporting the development strategies of Central Asian countries and the Belt and Road Initiative [1][2] Group 1: ICBC's Role in Central Asia - ICBC has established a presence in Kazakhstan since 1993, with its Almaty branch being the first Chinese bank in Central Asia, providing comprehensive commercial banking services across the five Central Asian countries [1] - The bank has supported over 20 key projects in the region, with a total loan amount exceeding 4 billion USD, focusing on important sectors such as green energy [2] - ICBC Almaty is the only RMB clearing bank in Kazakhstan and a major market maker for RMB against the tenge, facilitating financial infrastructure development and market connectivity in Central Asia [2] Group 2: Financial Services and Support - ICBC Almaty offers various financial services, including bilateral loans, syndicate loans, foreign exchange transactions, global cash management, deposits, settlements, and financing, to support Chinese enterprises in Central Asia [1] - The bank has actively engaged in sustainable development by introducing ESG concepts and collaborating with local regulators and peers [2] - ICBC has also participated in social responsibility initiatives, such as poverty alleviation and educational donations, contributing to local community development [2]

Core Viewpoint - The trend of securities firms closing down branches is accelerating, driven by the shift towards online operations and the need for cost reduction and efficiency improvement [1][4]. Group 1: Branch Closures - Caixin Securities announced the closure of three branches, contributing to over 50 branch closures by more than 20 securities firms this year [2][3]. - Other firms, such as Founder Securities, have also been actively closing branches, with a total of eight closures reported this year [2][4]. - The closures are part of a broader industry trend, with over 30 firms expected to announce branch closures in 2024, totaling more than 100 branch closures [4]. Group 2: Reasons for Closures - The closures are primarily aimed at optimizing branch layouts and resource allocation, with many firms transitioning to a centralized operation model for retail clients [3][4]. - The decline in traditional brokerage commission rates and high fixed costs are significant factors driving the need for branch closures [4]. - The rise of financial technology and the increasing adoption of AI in the industry have reduced the reliance on physical branches for services such as account opening and trading [4]. Group 3: Future Outlook - Despite the ongoing trend of branch closures, the industry does not foresee a complete disappearance of physical branches; instead, a hybrid model combining online and offline services is expected to emerge [5]. - Some firms are innovating by establishing branches that focus on digital wealth management while retaining essential offline services for high-net-worth clients [5].

Core Insights - The summer solstice marks the beginning of summer and is a crucial time for health maintenance, emphasizing the importance of protecting yang energy and eliminating dampness from the body [1][2] Dietary Recommendations - During the summer solstice, it is advised to maintain a light diet, incorporating bitter foods like bitter melon and fresh fruits such as watermelon and green beans to combat heat [1] - Foods that help strengthen the spleen and eliminate dampness, such as coix seed, lotus seed, and poria, are recommended [1] Exercise Guidelines - It is suggested to engage in gentle exercises during cooler times of the day, such as early morning or evening, with activities like walking, yoga, and swimming being preferred [1] - Post-exercise, it is important to avoid cold showers and instead replenish fluids with light saltwater or green bean soup [1] Mental Health Focus - Protecting yang energy is crucial during hot weather, and individuals should avoid excessive cooling methods and maintain a stable mood to prevent heart-related issues [2] - Techniques for emotional stability include listening to soft music, practicing yoga, and meditative activities to avoid emotional fluctuations [2]

Core Viewpoint - Guangdong Dongyangguang Pharmaceutical Co., Ltd. is seeking to go public in Hong Kong through a listing by introduction, leveraging its leading position in the flu drug Oseltamivir [1][2] Group 1: Company Overview - Dongyangguang Pharmaceutical is a comprehensive pharmaceutical company focused on the research, production, and commercialization of drugs, particularly in the fields of infections, chronic diseases, and oncology [2] - The company has 48 drug products sold in the domestic market and 23 in overseas markets as of June 2025 [2] Group 2: Financial Performance - Sales revenue from anti-infection drugs for 2022, 2023, and 2024 were 3.243 billion, 5.746 billion, and 2.798 billion yuan, accounting for 85%, 90%, and 69.6% of total revenue respectively [2] - Sales revenue from chronic disease treatments for the same years were 517 million, 581 million, and 1.068 billion yuan, representing 13.6%, 9.1%, and 26.6% of total revenue respectively [2] - Oseltamivir sales accounted for 81.2%, 86.9%, and 64.2% of total revenue in 2022, 2023, and 2024, with a market share of 54.8% in 2024 [2][3] Group 3: Strategic Moves - The company plans to privatize its subsidiary Dongyangguang Changjiang Pharmaceutical through a merger, which will not involve new stock issuance or fundraising [4] - This merger aims to enhance the company's position as a comprehensive pharmaceutical entity, integrate sales channels, and improve operational efficiency [4] Group 4: Industry Trends - There is a resurgence in the trend of innovative drug companies seeking IPOs in Hong Kong, with seven companies, including Dongyangguang Pharmaceutical, having submitted applications since June [5] - The Hong Kong Stock Exchange's 2018 reform allows unprofitable biotech companies to list, providing crucial funding avenues for R&D-intensive firms [6]