编者荐语： 上海国际车展上的比亚迪（4月下旬） 虽说中国汽车品牌进入欧洲并没有将德国市场作为首站，但可以说，德国市场才是 众品牌心目的汽车高地和终极目标。 日本经济新闻社与金融时报2015年11月合并为同一家媒体集团。同样于19世纪创刊的日本和英国的两家 报社形成的同盟正以"高品质、最强大的经济新闻学"为旗帜，推进共同特辑等广泛领域的协作。此次， 作为其中的一环，两家报社的中文网之间实现文章互换。 文丨FT中文网专栏作家 张冬方 以下文章来源于FT中文网 ，作者张冬方 "这仅仅只是开始。" 在慕尼黑2025国际车展上，比亚迪执行副总裁李柯在谈到比亚迪欧洲扩 张战略时如是说。她在发布会上介绍道，至今年年底，比亚迪将在32个欧洲国家开设超过 1000家门店，而这仅仅只是开始。 FT中文网 . 英国《金融时报》集团旗下唯一的中文商业财经网站，旨在为中国商业菁英和决策者们提供每日不可或 缺的商业财经资讯、深度分析以及评论。 "这仅仅只是开始"这句话可以做好几种解读。在第一种解读中，"只是"就是字面意思。在欧 洲市场，尤其在最难攻克的德国市场，中国汽车品牌不过初来乍到，还处于摸索阶段，确实 不过是万里长征的第一步。据德 ...

日经GO 东京晴空塔将改为每日浮动票价 原创 阅读全文 ...

Group 1 - The core viewpoint emphasizes the need to confront historical issues to pave the way for a brighter future, highlighting Asia's spirit of tolerance as a driving force for lasting world peace [2][6] - The speech covered five main topics: UN reform, the Middle East, nuclear disarmament, North Korea, and development [4] - Japan's long-standing support for a two-state solution between Israel and Palestine was reiterated, with a warning that Japan may consider new measures if Israel continues unilateral actions [4][6] Group 2 - The speech criticized Israel's actions in the Middle East while urging Palestine to take responsible measures, such as releasing hostages held by Hamas [4] - Japan has not yet recognized Palestine, unlike France, the UK, and Canada, which have done so during the UN General Assembly [6] - The call for UN reform included expanding the seats of both permanent and non-permanent members of the Security Council, addressing the limitations of the current UN structure [6] Group 3 - The discussion on nuclear disarmament highlighted the necessity of a collaborative approach between nuclear and non-nuclear states under the Non-Proliferation Treaty (NPT) [6] - The speech included a critique of North Korea's nuclear development as a significant threat to international peace and security [6]

Group 1 - The Nikkei average index continued to rise, closing at 45,630.31 points on September 24, up 136.65 points (0.3%) from the previous day, marking a new high for two consecutive trading days [2] - SoftBank Group's stock surged over 6% due to plans for significant AI-related investments in the U.S., which boosted the overall market [4] - The investment in AI infrastructure, named "Stargate," is expected to reach $400 billion over the next three years, with multiple data centers planned in Texas and other locations [4] Group 2 - The Nikkei index has risen over 3,000 points in just three weeks since hitting a low of 41,938 points on September 3 [4] - The ratio of advancing to declining stocks, calculated based on index components, was 117% as of September 22, approaching the "overbought" signal level of 120% [4] - Despite concerns of market overheating, analysts believe there is still upward potential for the Nikkei average, as its deviation from the 25-day moving average remains within 5% [5]

Core Insights - The Indian government's policies are restoring market confidence, with the SENSEX index rising by 3.5% in September, indicating a potential recovery in the stock market [1][3] - The SENSEX index closed at 82,626 points on September 19, just 4% away from its historical high of 85,836 points set in September 2024 [3] - There are signs of reduced selling pressure from foreign investors, with net purchases of $189 million recorded in the third week of September [6] Group 1: Government Policies and Market Response - The government's large-scale tax cuts are expected to boost consumer spending, contributing to GDP growth [8] - The reduction in the Goods and Services Tax (GST) on various products, particularly in the automotive sector, is a significant aspect of the tax reform [6][9] - The market's positive response is also linked to the resumption of trade negotiations with the U.S. and the potential for lower tariffs [9] Group 2: Economic Forecasts and Investment Sentiment - DBS Group Research has raised its GDP growth forecast for India from 6.3% to 6.7% for the fiscal year ending March 2026 [8] - Morgan Stanley predicts a 50% chance that the SENSEX index will reach 89,000 points by June 2026, with a 30% probability of hitting 100,000 points [9] - The expectation of a potential interest rate cut by the Reserve Bank of India is also contributing to positive market sentiment [9]

Core Viewpoint - The OECD has revised its global economic growth forecast for 2025 to 3.2%, an increase of 0.3 percentage points from the previous June forecast, driven by AI-related investments in the US and fiscal stimulus in China [2][4]. Economic Growth Forecasts - The OECD predicts a global economic growth rate of 3.3% for 2024, slowing to 3.2% in 2025 and further to 2.9% in 2026 [4]. - For the US, the growth forecast for 2025 is set at 1.8%, up by 0.2 percentage points, but down from 2.8% in 2024. High tariffs and reduced immigration are offsetting the effects of strong high-tech investments [6]. - The Eurozone's growth forecast has been raised by 0.2 percentage points to 1.2%, with current policy rates at 2%, half of the peak rates from 2023-2024 [6]. - China's growth forecast for 2025 is adjusted to 4.9%, an increase of 0.2 percentage points, expected to remain stable compared to 2024's 5% [6]. - Japan's growth forecast has been increased by 0.4 percentage points to 1.1%, supported by strong corporate earnings and investment growth [6]. Economic Risks - The OECD highlights that fiscal risks, including rising defense spending and aging population costs, are concerns for the global economy. Increased government bond yields are also seen as evidence of rising future risks for investors [6].

Core Viewpoint - CAPCOM has achieved significant growth in the gaming industry, with a successful launch of the new title "Monster Hunter: Wales," selling 10 million copies within a month, marking a historic milestone for the company [3][9]. Group 1: Company Performance - CAPCOM has reported 12 consecutive quarters of operating profit growth and has achieved over 10% operating profit growth for 10 consecutive quarters [5]. - The company has reached its highest-ever consolidated sales and operating profit, indicating stable and high growth in a volatile gaming market [5]. Group 2: Product Launch - The release of "Monster Hunter: Wales" in February 2025 was a key highlight, with the company implementing various strategies to achieve the ambitious sales target of 10 million copies [6][9]. - The success of this title not only set a record for CAPCOM but also provided valuable experience for future game launches, emphasizing the importance of boosting initial sales [9][10]. Group 3: Industry Context - The gaming industry is characterized by rapid changes, and CAPCOM's sustained performance over the past decade positions it as a strong player amidst these fluctuations [3]. - The company's recent achievements in esports, including a successful event held in March 2025, further establish its goals as a business entity within the gaming sector [3].

Core Viewpoint - The article discusses the integration of WeChat Pay into the merchant networks of Japan's d Payment and Merpay, highlighting the growing trend of digital payment solutions in Japan and the collaboration between Chinese and Japanese payment systems [2]. Group 1: Company Developments - Japan's d Payment and Merpay have expanded their merchant support to include WeChat Pay, indicating a significant step towards enhancing payment options for consumers [2]. - This integration allows users of WeChat Pay to make purchases at participating merchants in Japan, reflecting a broader trend of cross-border payment solutions [2]. Group 2: Industry Trends - The collaboration between Japanese payment platforms and Chinese payment systems signifies a shift in the digital payment landscape, aiming to cater to the increasing number of Chinese tourists in Japan [2]. - The move is expected to boost the adoption of digital payments in Japan, aligning with global trends towards cashless transactions [2].

Core Viewpoint - The prices of mineral resources used for electric vehicle (EV) batteries, particularly lithium, are experiencing a downturn due to oversupply in the market, despite some government measures to curb production in China [1][4]. Group 1: Lithium Market Dynamics - As of September 15, the price of lithium carbonate, a key price indicator, is at 72,500 yuan per ton, down 37% from the peak in March 2024 [2]. - The lithium market has seen a previous downturn, with speculative investments driving prices to nearly 568,500 yuan per ton in November 2022, which is about eight times the current price [5]. - Analysts predict that unless there is significant production cutback, lithium oversupply is expected to persist until 2032 [5]. Group 2: Other EV Metals - Nickel, used in high-performance "ternary" batteries, is also in a low price range, with prices at $15,405 per ton, down 29% from the peak in May 2024 [8]. - Indonesia, which accounts for 60% of global nickel production, is projected to triple its output by 2024 compared to 2020 [8]. - Cobalt prices remain low, with the Democratic Republic of the Congo halting exports due to severe oversupply, which is a significant source of revenue for the country [8]. Group 3: Future Demand Projections - Long-term demand for EV metals is expected to grow, with the International Energy Agency (IEA) forecasting that lithium demand could reach nine times the 2024 levels by 2050 under a net-zero emissions scenario [8]. - Nickel demand is projected to double by 2050, but current production is expanding at a rate that exceeds actual demand, indicating a need for time before a market reversal occurs [8].

软银集团会长兼社长孙正义在线上与OpenAI首席执行官萨姆·奥尔特曼对话（7月，东京都港区） 软银集团2021财年经历了史上最大亏损之后，孙正义开始正式投身"AI革命"。截至2025年6月底，软银 集团通过愿景基金1号和2号共投资了335家公司，其中大部分都是AI相关企业…… 日本软银集团（SBG）正在整合旗下子公司。截至3月底，软银集团子公司为965家，比1年前减少了 23%。这是因为软银集团出售了在人工智能（AI）基础设施业务上难以产生乘积效应的美国投资基金。 以通过同志联合来追求乘积效应的"群战略"为前提，软银正在试图转型为汇集AI精锐企业的组织体。 软银集团的年度报告显示，子公司数量低于1000家是自2016财年（截至2017年３月）以来、时隔7年的 首次。较2019财年的1475家减少了35%。上一财年的锐减是因为全部出售了美国堡垒投资集团(Fortress Investment Group)的持股。 2017年 ，软银集团以33亿美元（按当时汇率计算约3700亿日元）收购了堡垒投资。当时"软银愿景基金 （SVF）"刚刚成立，希望通过收购堡垒投资来吸收投资公司的运营经验。 软银集团目前的股价表现坚挺 ...