Emerging Markets Dynamics - Russia plans to launch a digital ruble roadmap with a large-scale rollout set for September 1, 2026, and initial pilot projects starting on October 1, 2025 [1] - The UAE's new economic cluster policy aims to enhance industrial competitiveness and expand global market access, contributing over 30 billion dirhams annually to GDP and increasing foreign trade by 15 billion dirhams over the next seven years [1] Financial Cooperation - Brazil and China are accelerating the use of local currencies in bilateral trade and financial investments, with a focus on reducing transaction costs and currency risks, and have approved $2.8 billion for environmental projects [2] - Brazil's government is investing 3.4 million reais to promote e-commerce development in regions outside the southeast, with a projected annual growth rate exceeding 10% by 2029 [2] Tax Incentives - Laos has implemented a VAT exemption policy for certain export goods, including minerals and electricity, to attract investment and enhance competitiveness in international markets [2] Platform Dynamics - Temu has significantly reduced prices in the U.S. market, with an average decrease of 18% for 24 popular items since April, as part of its strategy to regain market share [3][4] - Ozon plans to increase sales commissions for sellers using its official fulfillment model starting September 25, 2025, with an average increase of 1.75% across most categories [4] - Amazon's Prime Big Deal Days are scheduled for October 7-8, 2025, marking the start of the holiday shopping season [5] - Amazon, Temu, and Shein have seen significant user growth in Australia, with Temu's sales increasing from 1.6 billion to 2.6 billion AUD [6] - Temu's UK revenue for FY2024 reached approximately $63.3 million, nearly doubling from the previous year, despite operational losses [6] E-commerce Market Trends - AliExpress remains the largest Chinese e-commerce platform in Europe, with an average of 190 million users from February to July [7] - Trendyol aims for $6 billion in exports by 2028, while Noon is enhancing its financial services and logistics capabilities [8] Policy Developments - Mexico, the U.S., and Canada have agreed to continue executing the USMCA, with a public consultation process for its first revision starting [19] - The Philippines has mandated that all e-commerce businesses obtain a government-issued Trustmark by September 30, 2025, to ensure compliance with national standards [19]

一、同意撤销泰康人寿保险有限责任公司云南昆明石林营销服务部。 二、接此批复文件后，泰康人寿保险有限责任公司云南昆明石林营销服务部应立即停止一切经营活动， 于15个工作日内向云南金融监管局缴回许可证，并按照有关法律法规要求办理相关手续。 2025年9月19日，云南金融监管局发布批复称，《关于撤销泰康人寿保险有限责任公司云南昆明石林营 销服务部的请示》（泰康云字〔2025〕89号）收悉。经审核，现批复如下： ...

2025年9月19日，国家金融监督管理总局柳州监管分局发布批复称，《泰康人寿保险有限责任公司广西 柳州中心支公司关于柳江营销服务部变更营业场所的请示》（泰康人寿柳迁〔2025〕1号）收悉。经审 核，现批复如下： 一、同意泰康人寿保险有限责任公司广西柳州柳江营销服务部营业场所变更为：广西壮族自治区柳州市 柳江区柳邕路432号通和商厦3-32、3-34。 二、泰康人寿保险有限责任公司应按照有关规定及时办理变更及许可证换领事宜。 ...

没有社保，不敢生病，不敢出意外，这曾是快递外卖小哥群体的普遍写照。 数据显示，我国灵活就业人员已超2亿，其中只有25%缴纳社会保险。变化始于今年3月，京东率先为骑手"上社保"，成为国内首个为全职骑手缴纳五险一 金的平台。 近期，美团、饿了么相继召开恳谈协商会，平台将补贴50%社保费用，覆盖百万小哥。外卖骑手作为占比最大的人群之一，其权益保障的推进，对于快递 行业来说，有着重要的借鉴意义。 美团在福建泉州、江苏南通试点的方案特征是"无前置资格限制、无参保地点限制、无时长单量限制、无跑单类型限制"，也就是说，支持骑手自主选择在 户籍地或就业地参保缴费获补；无时长单量限制；面向所有类型骑手开放，不因骑手的熟练度、工作年限而有所区别。 在快递企业中，京东物流成为唯一一家与所有快递小哥签订劳动合同，并缴纳"五险一金"的公司。目前，已有1200多名快递员从京东退休，并领到了退休 金。 正如刘强东所言："我们也希望他们能长期跟京东走下去，而不是趁着你年轻力壮，跟我干5年，等你老了回老家干不动了，我就不管你了。" 那美团的社保方案，快递企业能否借鉴呢？按照美团的办法，平台对当月收入达到就业地相关缴费基数下限，且近6个月有3个 ...

今日多条要点，一起来看详情↓ ↓ ↓ 盒马人事变动：CEO严筱磊兼任盒马首席商品官 9月18日消息，据接近盒马的人士介绍，9月15日，盒马发布组织公告称为适应公司战略发展需要，持续建设商品力和供应链能力，优化提升供应链效率与 质量，奠定业务长期增长的坚实基础，决定由盒马CEO严筱磊兼任盒马CMO（首席商品官），原盒马CMO李卫平调入盒马CEO办公室，另有任用。 饿了么上线"风险订单预警"功能 9月18日消息，饿了么新上线了"风险订单预警"功能，当系统识别到疑似风险订单，会为该订单标记"风险订单"标签，并发送预警提醒，帮助商家快速识 别并妥善应对。现在，饿了么商家可以在商家版APP首页-管理-体检中心-安全保镖风险订单，核实订单是否异常。当后台提示订单为风险订单后，若经核 实订单确实存在异常情况，饿了么鼓励商家积极应对。商家可选择"确认异常"，系统将引导跳转至"限制顾客下单"页面，申请"拉黑"顾客，申请通过后该 顾客将无法在商家的店铺下单。 蜜雪冰城回应柠檬水断货：整体储备充足，将很快恢复供货 9月18日，蜜雪冰城回应多地门店柠檬水断货事件，称系进口柠檬因天气延期到港及川渝新柠檬需储存优化口感所致，整体库存充足 ...

Core Viewpoint - Liu Qiangdong is actively pursuing international expansion through significant acquisitions, including logistics assets in Singapore and consumer electronics retailers in Europe and Hong Kong, totaling approximately 200 billion yuan [5][12][13]. Group 1: Recent Acquisitions - Liu Qiangdong's recent acquisition of logistics assets in Singapore involves a transaction price of 306 million SGD, approximately 1.7 billion yuan [5]. - The logistics assets include properties located in key industrial areas of Singapore, with a total building area of about 186,346 square meters and an average remaining land lease of 27 years [22]. - The largest asset in the acquisition is a logistics hub on Pandan Avenue, valued at 14 million SGD, accounting for half of the total transaction price [19]. Group 2: Strategic Partnerships - The acquisition is a collaborative effort with Swiss investment firm UBS and Eza Hill, which is backed by Hillhouse Capital [24][25]. - Eza Hill has been actively acquiring logistics assets in Southeast Asia, including a recent purchase of logistics properties in Jakarta valued at 148 million USD [29]. - The partnership aims to establish a REIT with a target scale exceeding 1 billion USD, marking a significant move in the Singapore REIT market [33]. Group 3: International Expansion Strategy - Liu Qiangdong emphasizes internationalization as a key direction for JD's future, with over 2,000 employees and logistics networks covering 19 countries [16]. - Successful acquisitions in Europe and Hong Kong will serve as strategic footholds for JD's internationalization efforts [17]. - The logistics sector is identified as a critical area for JD's future growth, with plans to enhance supply chain capabilities globally [18][39]. Group 4: Supply Chain Development - Liu Qiangdong's logistics investments are seen as foundational to his business empire, with four out of six listed companies under his control related to logistics [41]. - Recent investments include a 50 billion yuan logistics infrastructure fund targeting key urban areas in China [36]. - The goal is to achieve over 100% growth in global self-operated overseas warehouse space by the end of 2025 [39].

Market Overview - The US non-farm employment data has been significantly revised downwards, leading to sustained expectations for interest rate cuts. The Hong Kong stock market has risen again, with the Hang Seng Index breaking the 26,000 mark, reaching a nearly four-year high. The index closed up 1.01% or 262.13 points at 26,200.26, with a total turnover of HKD 288.21 billion [1] Blue Chip Performance - Lenovo Group (00992) led the blue-chip stocks, rising 4.63% to HKD 11.31, contributing 5.88 points to the Hang Seng Index. Huatai Securities expects Lenovo to benefit from strong demand for AI products in the second half of the year, maintaining a buy rating with a target price of HKD 16 [2] - Other notable blue-chip performances include JD Logistics (02618) up 4.45%, Sun Hung Kai Properties (00016) up 4.28%, while Xinyi Solar (00968) and Xiaomi Group-W (01810) saw declines of 2.77% and 2.22%, respectively [2] Sector Highlights - Large technology stocks performed well, with Bilibili rising over 7% and JD up over 3%. Cloud computing stocks also saw gains, with Kingsoft Cloud rising nearly 9% [3] - Oracle's cloud business showed strong performance, with cloud revenue growing 28% year-on-year and cloud infrastructure revenue increasing 55%. The company expects cloud infrastructure revenue to reach USD 18 billion in FY2026, a 77% increase from FY2025 [4] Real Estate Sector - Hong Kong real estate stocks generally rose, with Sun Hung Kai Properties up 4.28% and Hang Lung Properties (00101) up 2.79% [4] - The Hong Kong government is set to release its 2025 policy address, with expectations of further reductions in property stamp duties and measures to attract more mainland visitors [5] Lithium Sector - Lithium stocks faced significant declines, with Ganfeng Lithium (01772) down 7.02% and Tianqi Lithium (09696) down 7.97%. The price of lithium carbonate is expected to fall below RMB 70,000 per ton due to a resurgence of supply surplus [6][5] Popular Stocks - Yunfeng Financial (00376) surged 27.83% after receiving approval to upgrade its securities license to offer virtual asset trading services [7] - Yaojie Ankang-B (02617) reached a new high, rising 27.57% after being included in the Hong Kong Stock Connect list [8] - Longfor Group (03380) rose 9.47% after reaching a revised agreement with creditors regarding offshore debt restructuring [9] - Shandong Molong (00568) increased by 7.92% amid rising oil prices due to geopolitical tensions in the Middle East [10]

Market Overview - The Hang Seng Index closed at 26,200.26 points, up 1.01% [1] - The Hang Seng Tech Index rose by 1.27% to 5,902.69 points [1] - The National Enterprises Index increased by 0.93% to 9,328.16 points [1] - The Red Chip Index gained 0.58%, closing at 4,376.55 points [1] Top Gainers - Bilibili-W surged over 7% to a price of 198.000 [2] - Dama Entertainment increased by over 5% to 1.190 [2] - JD Logistics and Lenovo Group both rose over 4%, with JD Logistics at 13.820 [2] - Other notable gainers include Beike-W, Construction Bank, and Agricultural Bank, all rising over 3% [1][2] Top Losers - Tianqi Lithium Industries fell by 7.97% to 39.960 [2] - Ganfeng Lithium dropped by 7.08% to 33.880 [2] - Pop Mart decreased by 4.09% to 276.400 [2] - Other significant decliners include Bosideng and Zhou Hei Ya, both down over 2% [1][2]

Core Viewpoint - JD Logistics (02618.HK) experienced a nearly 5% increase in stock price, reaching HKD 13.91 with a trading volume of HKD 422 million [2] Company Summary - JD Logistics' stock rose by 4.90% as of the latest report [2] - The current stock price is HKD 13.91 [2] - The trading volume for the day was HKD 422 million [2] Industry Summary - The performance of JD Logistics may indicate positive market sentiment within the logistics sector [2] - The increase in stock price could reflect investor confidence in the company's growth prospects [2]

Group 1 - JD Logistics (02618) saw a nearly 5% increase in stock price, reaching HKD 13.91 with a trading volume of HKD 422 million [1] - The China Logistics and Purchasing Federation reported that the e-commerce logistics index for August was 112.3, up 0.3 points from the previous month, marking a new high for the year and indicating six consecutive months of growth [1] - The total business volume index for e-commerce logistics surpassed 131 points, increasing by 0.5 points from the previous month, indicating accelerated growth [1] Group 2 - Bank of America released a report stating that the express delivery industry in China lacks positive catalysts in the short term due to the effects of price adjustments from the anti-involution trend [1] - JD Logistics is viewed as having a particularly good entry point, as third-quarter profit expectations have been reset [1] - Bank of America maintains a target price of HKD 16 for JD Logistics and has given it a "Buy" rating [1]