Group 1: Monetary Policy and Market Operations - The central bank conducted a 7-day reverse repurchase operation of 755 billion yuan at a fixed rate of 1.40%, with a net withdrawal of 230 billion yuan on the same day due to 985 billion yuan of reverse repos maturing [2] - The overnight pledged repo rate slightly increased to 1.31%, while the 7-day pledged repo rate rose to 1.47% [4] - The yield on major interbank bonds mostly increased, indicating a potential shift in market sentiment [9] Group 2: Economic Indicators - China's June CPI rose by 0.1%, marking a turnaround after four consecutive months of decline, primarily driven by a rebound in industrial consumer goods prices [13] - The June PPI fell by 3.6%, worse than the expected decline of 3.2%, influenced by seasonal price drops in raw materials and increased green energy supply [13] Group 3: Bond Market Developments - The central government plans to issue 60 billion yuan of government bonds in Macau on July 16 [16] - The National Development Bank will auction up to 38 billion yuan of fixed-rate bonds on July 10 [16] - A series of negative credit events were reported for various companies, indicating a trend of downgrades in credit ratings [16]

Economic Indicators - China's June CPI rose by 0.1% year-on-year, marking the first increase after four consecutive months of decline; core CPI increased by 0.7%, reaching a 14-month high [2] - June PPI fell by 0.4% month-on-month and decreased by 3.6% year-on-year, with the decline widening by 0.3 percentage points compared to the previous month [2] - The National Development and Reform Commission reported that China's economic increment during the 14th Five-Year Plan is expected to exceed 35 trillion yuan, with total economic output projected to reach around 140 trillion yuan this year [2] Corporate Developments - Nvidia's stock rose by 1.80%, reaching a historic high with a market capitalization that briefly surpassed 4 trillion USD, making it the first company to reach this milestone [3] - Nvidia's stock has increased nearly 90% since its low in April, with projections suggesting its market value could reach 5 trillion USD within the next 18 months [3] Market Trends - A-shares experienced a pullback after reaching a high, with the Shanghai Composite Index closing down 0.13% at 3493.05 points [6] - The Hong Kong Hang Seng Index closed down 1.06%, while the Hang Seng Technology Index fell by 1.76% [6] - The Hong Kong Stock Exchange reported 44 new listings in the first half of the year, a 47% increase year-on-year, with IPO fundraising reaching 107.1 billion HKD, up 699% [6] Company Announcements - Multiple companies reported significant profit increases for the first half of the year, with 83 out of 107 stocks forecasting positive earnings [7] - Notable profit forecasts include a projected increase of 1130%-1190% for Muyuan Foods and 1883%-2015% for Northern Rare Earth [9] Regulatory Actions - The Ministry of Commerce announced export controls on eight Taiwanese entities associated with "Taiwan independence" [4] - The State Council introduced new employment support policies, including expanded loan support and social insurance subsidies for struggling businesses [4] Investment Activities - Several private equity firms have submitted non-binding offers to acquire Starbucks' China business, with valuations estimated between 5 billion to 10 billion USD [14] - Meituan is increasing investments in the robotics sector, participating in over 100 million USD financing rounds for companies in this field [13]

近期《F1：狂飙飞车》热映，布拉德·皮特在电影中承受极限加速度，完成逆袭。F1作为世界最 快的赛车比赛，0.1秒的瞬息差距，决定冠军归属！ 同样在投资市场中， 信息时差就是收益差距 ，错过关键信息可能让机遇从指缝中溜走！ 在这个信息驱动收益的时代， 获取优质信息的速度和精度 ，直接决定了投资的成败。 本期Wind Alice AI Moments为你 重磅带来 【AI简报】 ——为专业投资者打造 的 智能化全 球市场情报系统 ， 让 您永远站在信息的最前沿！ 全球视野 | 360度全方位市场监控 想了解美国市场最新动向？点击【美国宏观】瞬间获取核心要闻摘要。欧央行政策变化？亚 太市场异动？新兴市场机会？【 AI 简报】为您构建覆盖 全球 20 多个核心金融市场 的信息网 络。 AI 会从海量信息中精准筛选出 最有价值的资讯，让重要信息主动找到您 。不再需要在数百条 资讯中大海捞针，每一条推荐都是为您量身定制的投资参考。 当美联储政策转向信号初现，您是否已提前调整投资组合？ 当地缘政治风险骤升，您的风控预警是否已经启动？ 行情 + 资讯 + 分析，三位一体的决策利器 进入详情页，您将看到一个功能强大的分析界面， ...

Core Viewpoint - The article emphasizes the importance of high-quality development of the marine economy in China, highlighting a series of government policies aimed at promoting this sector and establishing a clear direction for future growth [4][9]. Group 1: Marine Economy Policy Evolution - The marine economy encompasses various industries related to the development and utilization of marine resources, including marine fisheries, transportation, shipbuilding, and emerging sectors like marine renewable energy and biotechnology [5][7]. - The Chinese government has been progressively focusing on marine economic development, with significant policies introduced at multiple levels, including the Central Economic Work Conference and the "14th Five-Year Plan" for marine economic development [9][11]. Group 2: Current Status of Marine Economy Development - China's marine economy has shown robust growth, with the national marine production value surpassing 10 trillion yuan in 2024, marking a 5.9% year-on-year increase and accounting for 7.8% of the national GDP [8][13]. - The marine shipbuilding industry has demonstrated remarkable performance, achieving a value-added of 137 billion yuan in 2024, with a market share exceeding 50% in global ship orders [13][14]. Group 3: Investment and Financing Trends - The financing scale for marine economy-related enterprises has been steadily increasing, with a concentration of investment activities in regions like the Bohai Economic Rim and the Yangtze River Delta [17]. - Despite the growth, the number of financing events in the marine economy remains relatively low, primarily due to the high-risk and high-investment nature of the industry [17][18]. Group 4: Technological Advancements and Digital Transformation - The integration of technologies such as IoT, AI, and big data is transforming the marine economy, enhancing efficiency and enabling a shift from resource-dependent to technology-driven models [18]. - The application of AI in marine research is advancing, with systems developed to improve efficiency in deep-sea exploration and data processing [15].

央视新闻报道，工业和信息化部 9 日开通了 " 重点车企践行账期承诺线上问题反映窗口 " ，受理中 小企业关于重点车企践行货款支付周期承诺和落实《保障中小企业款项支付条例》不力等问题。 工业和信息化部有关负责人表示，窗口主要受理 4 类问题： 中汽中心中国汽车战略与政策研究中心主任王铁：本次开通窗口的目标非常明确，目的就是要受理中小 企业收款周期的问题，推动重点车企改进管理流程、优化支付方式。这一举措通过打通中小企业诉求的 反馈渠道，督促重点车企履行账期承诺等方式，将有效推动《保障中小企业款项支付条例》落在实处， 增强中小企业的信心和发展活力，对构建更加健康、公平、诚信的汽车产业生态至关重要。 下一步，工业和信息化部将指导行业机构研究制定汽车行业结算支付规范，推行合同范本， 进一步规 范汽车企业供应商货款支付流程，推动构建"整车—零部件"协作共赢发展生态，促进汽车产业健康可持 续发展。 Wind用户在金融终端输入 IBR（投行业务排行榜） 纵观股票、债券一级承销风云 过去十年投行承销排名一应俱全 分行业、分地域多维度呈现市场融资规模 三是重点车企强制或变相强制中小企业接受商业汇票、应收账款电子凭证等非现金支付 ...

Group 1 - President Xi Jinping emphasized the importance of maintaining safety and stability during the transformation and development process, focusing on stabilizing employment, enterprises, markets, and expectations, while enhancing social security services for vulnerable groups [2] - The Shanghai Municipal Party Committee approved a significant document aimed at deepening the construction of an international science and technology innovation center, highlighting the need for systematic, holistic, and collaborative approaches to enhance the overall effectiveness of the innovation system [2] - The Chinese government announced a new investment of 10 billion yuan to support employment and income generation for key groups through various projects across 26 provinces [3] Group 2 - The A-share market saw a strong performance with the Shanghai Composite Index reaching a new high for the year, driven by surges in the photovoltaic and AI hardware sectors, while the market turnover reached 1.47 trillion yuan [5] - The Hong Kong Hang Seng Index closed up 1.09%, with significant inflows from southbound funds, particularly into Alibaba and Meituan [5] - The China Securities Association plans to revise regulations to include bribery and other misconduct in the category of violations, encouraging brokerages to compensate investors for losses from fraudulent activities [6] Group 3 - Shein, a fast-fashion cross-border e-commerce company, has reportedly submitted a confidential listing application to the Hong Kong Stock Exchange, seeking approval from Chinese regulators [7] - The number of newly registered private equity securities investment funds in China reached 5,461 in the first half of the year, marking a year-on-year increase of 53.61% [6] Group 4 - The latest statistics show that the retail sales of passenger vehicles in China reached 2.084 million units in June, a year-on-year increase of 18.1%, with new energy vehicles accounting for 1.111 million units sold [10] - The global gold ETF saw an increase of 38 billion dollars in assets under management in the first half of the year, driven by strong performance in June [22]

行业领军云集的"Wind2025家办高质量发展论坛"，将于2025年7月10日在广州举办，资管大咖 及财富管理行业顶尖专家，将与150+海内外家办掌门人及企业代表，共话"AI驱动的家企财富管 理与投顾服务新实践"，共探行业高质量发展新路径，共谋全球配置新未来！ 论坛嘉宾阵容强大，大咖云集！ 本次论坛由领先的金融信息服务商Wind，联合旗下第三方机构万得基金举办，得到广州金融办的 热烈欢迎和大力支持，并获得广发基金、广州投顾学院、易方达基金投顾和中欧财富的倾力协 助。 图片 看点一： 紧扣行业时代核心主题！ 图片 在AI技术助推下，家企财富管理与投顾服务迎来高质量发展转型关键期，本次论坛以"AI驱动的家 企财富管理与投顾服务新实践"为主题，设置了6大主旨演讲，2场圆桌对话，议程安排将从宏观 到微观、全球至本土、理论到实操等多个维度，共探AI浪潮下行业高质量发展新路径。 主旨演讲嘉宾有： Al驱动的家企财富管理与投顾服务新实践 在行业快速变革的当下，万得家办智库也将应运而生，汇聚顶尖智慧、整合前沿资源，为家族办 公室高质量发展提供坚实智力支撑！ 图片 看点二： 高朋满座，重磅嘉宾云集！ 图片 © 2025.7.1 ...

// 债市综述 // 1. 公开市场操作 央行公告称，7月8日以固定利率、数量招标方式开展了690亿元7天期逆回购操作，操作利率1.40%，投标量690亿元，中标量690亿元。Wind数据显示，当 日1310亿元逆回购到期，据此计算，单日净回笼620亿元。 （*数据来源：Wind-央行动态PBOC） 2. 资金面 央行公告称，7月8日以固定利率、数量招标方式开展了690亿元7天期逆回购操作，操作利率1.40%，投标量690亿元，中标量690亿元。Wind数据显示，当 日1310亿元逆回购到期，据此计算，单日净回笼620亿元。 （IMM） 3. 同业存单 全国和主要股份制银行一年期同业存单最新成交在1.6%附近，较上日变化不大。 （*数据来源：Wind-同业存单-发行结果） 4. 银行间主要利率债收益率纷纷上行 （*数据来源：Wind-国际货币资金情绪指数、资金综合屏） | （*数据来源：Wind-成交统计BMW） | | --- | 5. 近期城投债（AAA）各期限利差走势及数据 （*数据来源：Wind-利差分析） 6. 国债期货收盘集体下跌 （*数据来源：Wind-国债期货） 2 . 中共上海市第十二届委员 ...

据央视报道，当地时间7日， 美国总统特朗普发信函给日韩及南非等14国威 胁征税，随后，他又签署行政令，延长"对等关税"暂缓期至8月1日 。 3个月来，美国就加征所谓"对等关税"与多个贸易对象进行谈判，但进度显著 不及美方预期。目前仅与英国、越南达成贸易协议，但协议细节仍待敲定， 与欧盟、日本、韩国、印度等的谈判进展艰难。 // 特朗普公开致信14国威胁征税 // 当地时间7日， 美国总统特朗普宣称，将从8月1日起对来自14个国家的进口产品征收关税： 日本、韩国、哈萨克斯坦、马来西亚、突尼斯：25% 波黑、南非：30% 印度尼西亚：32% 孟加拉国、塞尔维亚：35% 柬埔寨、泰国：36% 特朗普写道："如你所知，如果日本（韩国）或贵国境内的企业决定在美国境 内建造或生产产品，我们将不会征收关税，事实上，我们将尽一切可能快 速、专业、常规地予以批准——换句话说，只需几周时间。" 老挝、缅甸：40% // 特朗普：若提高对美关税，将追加同等幅度 // 特朗普当天在自己创立的"真实社交"网站上发布他写给日本首相石破茂和韩 国总统李在明的信，表示新关税将不包括其他行业关税。在这两封内容几乎 完全相同的信中，特朗普写道： ...

// 债市综述 // 1. 公开市场操作 央行 公告称， 7 月 7 日以固定利率、数量招标方式开展了 1065 亿元 7 天期逆回购操作，操作利率 1.40% ，投标量 1065 亿元，中标量 1065 亿元。 Wind 数据显示，当日 3315 亿元 逆回购到期 ，据此计算，单日净回笼 2250 亿元。 （*数据来源：Wind-央行动态PBOC） 2. 资金面 资金面延续宽松，但隔夜等短期资金利率开始筑底。存款类机构隔夜质押式回购利率微幅上行，目前仍位于 1.31% 位置，七天质押式回购利率则上行超 4 个 bp 至 1.46% 位置。 海外方面，最新美国隔夜融资担保利率为 4.40% 。 （IMM） 3. 同业存单 全国和主要股份制银行一年期同业存单最新成交在 1.59% 附近，较上日变化不大。 （*数据来源：Wind-同业存单-发行结果） 4. 银行间主要利率债收益率 （*数据来源：Wind-国际货币资金情绪指数、资金综合屏） （*数据来源：Wind-成交统计BMW） 5. 近期城投债（AAA）各期限利差走势及数据 | | 1Y | | 2Y ЗУ | SY | 7Y | 10Y | 超长债 | | ...