2025年，临近"十四五"收官，南方电网一口气在广州成立了三家全资子公司：11月，南网产融集团揭牌 成立；12月，南网电碳公司、南网产业发展集团相继揭牌。此外12月，南方电网综合能源（广东）有限 公司还与广州科学城集团旗下环保集团签约，拟设立合资公司协同打造智慧能源项目。 2026年1月，招商拜访马不停蹄：广东投促局、广州企业及相关部门组队赴京，与央企代表开展产业交 流对接；佛山明确提出深入开展央国企招商攻坚，并落地了中旅国际文旅合作；珠海迎来中农集团项目 签约……央地合作热潮涌动，在经济第一大省尤为活跃。 央企项目或新公司落地，往往意味其资金、技术、人才、管理经验等资源的导入，对地方经济产生重要 影响。一直以来，央企都将广东作为长期布局的战略要地，大批高质量项目落户转化为经济社会的有力 支撑。近年来，央企更是加强产业投资、科技合作、金融赋能等力度和广度，持续加码广东。 相比于项目合作，设立实体公司是更具长期性、战略性之举，意味着将此地作为长期发展、独立的增长 极来培育。中央企业正以这种方式在大湾区扩大布局，据不完全统计，仅2025年一年，至少有25家央企 （含子公司）在广东设立了新公司。进入2026年，节奏 ...

没错，过去很多年，确实是如此，所以全球高科技产业，从手机到新能源汽车，从战斗机到精密仪器， 都眼巴巴地看着中国，生怕咱们的稀土一"断供"，他们的生产线就得停摆。美国、日本、欧盟这些地 方，没少为这事跟咱们拉扯。 一提到稀土，大家脑子里蹦出来的肯定都是这几个词：中国储量多，中国产量大，中国是出口大国。 所以，在很多人看来，中国的稀土策略，似乎就是"我有，我卖，你得求着我"。 但是，刚刚公布的2025年海关数据，却给我们展示了一个完全不一样的、甚至有点"反常"的画面。这个 画面，值得我们好好琢磨。 数据显示，2025年，中国确实出口了6.26万吨稀土，出口额36.6亿元，创了近11年的新高。你看，出口 的大门依然敞开着，生意照做。可真正的"重磅炸弹"在另一边：去年，中国进口了10.1万吨稀土，花费 了128.8亿元！ 这个账，怎么算都觉得有点"怪"。 可能有人会想，这有啥怪的？咱们稀土提炼技术全球第一嘛，肯定是别人把粗矿运过来，咱们加工成高 纯度的产品，再高价卖出去，赚个加工费。 但仔细看价格，这个说法就站不住脚了。算一下单价：进口的稀土，平均每万吨要花12.8亿元；而咱们 出口的稀土，平均每万吨只卖5.85亿元 ...

Core Insights - The report highlights a bullish outlook for the metals sector, driven by macroeconomic factors such as the Federal Reserve's interest rate cuts and a recovering global economy, particularly in China [3][44] - Key investment themes for 2026 include expanding demand for precious metals like gold and silver, improving fundamentals for aluminum and copper, strategic opportunities in rare earths, and supply-side disruptions due to overcapacity in certain sectors [3][4] Group 1: Precious Metals - The report suggests a long-term bullish view on gold, with expectations of price increases driven by anticipated interest rate cuts and geopolitical tensions, which enhance gold's appeal as a safe-haven asset [3][44] - Silver is also highlighted as a key investment opportunity due to its high price ratio to gold, indicating potential for significant price appreciation [3] - Specific companies to watch include Shandong Gold (600547.SH) and Zijin Mining (601899.SH), which are expected to benefit from increased production and operational efficiencies [4] Group 2: Industrial Metals - The report notes that aluminum and copper are set to see improved profitability due to lower production costs and increased demand, particularly in the context of infrastructure investments [3][4] - Companies such as Zhongfu Industrial (600595.SH) and Zijin Mining (601899.SH) are identified as having strong positions in the copper market, with expected profit growth [4] - The report emphasizes the importance of monitoring supply chain dynamics, particularly in copper, where inventory levels are shifting significantly [18][58] Group 3: Rare Earths and Strategic Metals - The report identifies rare earth elements as a critical area for investment, particularly in light of geopolitical tensions between the US and China, which may create opportunities for companies involved in rare earth mining and processing [3][4] - Companies like Northern Rare Earth (600111.SH) and China Rare Earth (000831.SZ) are highlighted for their potential to benefit from price increases in rare earth materials [4] Group 4: Energy Metals - The report discusses the rebound in lithium and nickel prices, driven by strong demand from the battery sector, with specific mention of companies like Tianqi Lithium (002466.SZ) and Ganfeng Lithium (002460.SZ) [4][27] - The expected growth in energy storage solutions is also noted as a significant driver for demand in these metals [4] Group 5: Overall Market Performance - The overall performance of the non-ferrous metals sector is noted to have outperformed the broader market, with a cumulative increase of 96.46% in 2025 compared to a 21.65% increase in the Shanghai Composite Index [33][35] - The report indicates that while the sector has seen significant gains, valuations are currently at historical averages, suggesting potential for further growth [35]

1月23日，中国稀土大宗交易成交80万股，成交额4439.2万元，占当日总成交额的1.5%，成交价55.49 元，较市场收盘价55.49元持平。 | 权益类证券大宗交易(协议交易) | | --- | | 交易日期 | 证券代码 | 证券简称 | 成交价格 | 成交量 | 成交金额 买方营业部 | 卖方营业部 | | --- | --- | --- | --- | --- | --- | --- | | | | | (元) | (万股/万份) | (万元) | | | 2026-01-23 | 000831 | 中国稀土 | 55.49 | 80.00 | 4,439.2 招商证券股份有限 | 招商证券股份有限 | | | | | | | 公司北京景辉街证 | 公司北京景辉街证 | | | | | | | 券营业部 | 券营业部 | ...

据生意社监测，氧化镨01月22日最新价格675000.00万元/吨，最近10天上涨6.72%，15天上涨10.20%， 20天上涨13.92%，30天上涨14.89%，60天上涨20.00%。 相关生产商有：北方稀土(600111)中色股份(000758)中国稀土(000831)盛和资源(600392)等。 相关生产商有：北方稀土(600111)中色股份(000758)中国稀土(000831)盛和资源(600392)等。 据生意社监测，氧化镨01月22日最新价格675000.00万元/吨，最近10天上涨6.72%，15天上涨10.20%， 20天上涨13.92%，30天上涨14.89%，60天上涨20.00%。 ...

Group 1 - The core viewpoint of the articles highlights the strong performance and upward trends in the rare metals market, driven by increasing demand and supply constraints [1][2][3] Group 2 - As of January 23, 2026, the CSI Rare Metals Theme Index (930632) rose by 1.28%, with key stocks like Western Materials hitting the daily limit up and others like Chuaneng Power and Zhuhai Group also showing significant gains [1] - The top ten weighted stocks in the CSI Rare Metals Theme Index accounted for 59.54% of the index, with companies such as Luoyang Molybdenum, Northern Rare Earth, and Ganfeng Lithium leading the list [1] - The rare metals ETF fund (561800) saw a 1.41% increase, with a maximum intraday rise exceeding 2%, and recorded a turnover rate of 6.48% with total transactions of 14.6183 million yuan [1] - The price of battery-grade lithium carbonate increased by 4,000 yuan to 152,500 yuan per ton on January 20, 2026, reflecting a more than 28% rebound from the year's low, driven by surging storage demand and supply constraints [2] - New energy storage technologies are expanding rapidly, with lithium battery shipments in China reaching 430 GWh in the first three quarters of 2025, a year-on-year increase of 99.07% [2] - The supply-demand dynamics for rare metals are undergoing significant changes, with tungsten concentrate prices rising by 4.3% week-on-week to 507,000 yuan per ton, and prices for praseodymium-neodymium oxide and dysprosium oxide also increasing [3] - The CS Rare Metals Index, tracked by the rare metals ETF fund, is one of the highest in energy metal content, particularly lithium and cobalt, and is expected to benefit from ongoing market trends [3]

商务部新闻发言人何咏前表示，中国作为负责任大国，一贯积极履行防扩散国际义务，依法依规针对所 有两用物项，禁止对日本军事用户、军事用途，以及一切参与提升日本军事实力的最终用户用途出口。 其目的是制止再军事化和拥核企图，完全正当合理合法。与此同时，中方始终致力于维护全球产供链稳 定与安全，出口管制申请和审核等程序均依法合规。在此，我愿再次重申对符合确保属民事用途等条件 的出口申请都会得到批准。 来源：智通财经 中国政府只在特殊情况下批准购买H200芯片？商务部回应 智通财经1月22日讯，今天下午，商务部召开例行新闻发布会，介绍近期商务领域重点工作情况。 商务部：坚决反对欧盟将部分中国企业列为高风险供应商 商务部新闻发言人何咏前在回答有关提问时说，欧盟近日发布相关文件，强制要求成员国在能源、交 通、ICT服务管理等18个关键行业排除所谓"高风险供应商"。中方对此表示严重关切。中国企业长期在 欧洲依法合规经营，为欧洲民众提供了优质的产品和服务，有力促进了欧洲电信和数字产业发展。然 而，欧盟却在毫无事实依据的情况下，将部分中国企业列为高风险供应商，限制中国企业参与5G建 设。我们坚决反对欧方对中国企业的歧视行为和将经贸 ...

沪指1月22日上涨0.14%，申万所属行业中，今日上涨的有22个，涨幅居前的行业为建筑材料、国防军 工，涨幅分别为4.09%、3.23%。跌幅居前的行业为美容护理、银行，跌幅分别为0.76%、0.43%。有色 金属行业今日下跌0.37%。 资金面上看，两市主力资金全天净流出216.12亿元，今日有12个行业主力资金净流入，通信行业主力资 金净流入规模居首，该行业今日上涨2.83%，全天净流入资金80.19亿元，其次是国防军工行业，日涨幅 为3.23%，净流入资金为57.13亿元。 有色金属行业今日下跌0.37%，全天主力资金净流出52.00亿元，该行业所属的个股共138只，今日上涨 的有81只，涨停的有3只；下跌的有53只。以资金流向数据进行统计，该行业资金净流入的个股有47 只，其中，净流入资金超亿元的有5只，净流入资金居首的是西部材料，今日净流入资金2.72亿元，紧 随其后的是中国稀土、斯瑞新材，净流入资金分别为1.72亿元、1.55亿元。有色金属行业资金净流出个 股中，资金净流出超亿元的有17只，净流出资金居前的有湖南白银、洛阳钼业、兴业银锡，净流出资金 分别为8.27亿元、6.08亿元、4.64亿元。 ...

如果你最近走进日本名古屋或丰田市的那些精密制造企业的车间，你或许会感受到一种近乎压抑的宁 静。这种宁静并非因为订单量的减少，而是因为一种被称为工业维生素的稀土，正以前所未有的速度变 得极其珍贵且难以获取。 这种表面上的寂静背后，实际上隐藏着日本政坛的一场强烈震荡。新任首相高市早苗突然宣布解散众议 院，迅速掀起了一场日本战后最短、最迅疾的闪电大选。许多人不解，她上任不过四个多月，位子尚未 坐稳，为什么这么急着解散呢？事实上，如果你将日本高端制造业的困境与高市早苗的选战日程对比一 下，你会发现事情的真相逐渐浮出水面：这不仅仅是一场急于乘胜追击的进攻，更像是被逼到死角后的 疯狂突围。 面对这样的局面，高市早苗在1月19日宣布解散众议院，无疑是一场政治层面的极限运动。从23号解 散，到2月8号投票，选战仅有16天。这为何如此匆忙？因为她等不起了。经济学界的研究表明，如果稀 土管控持续一年，日本的GDP将直接下降0.43%。这个数字虽然看似不大，却意味着2.6万亿日元的财富 将消失。 如果汽车生产停滞、电子产品缺货、医疗成本飙升，最终的后果必然会传导到普通选民的生活中。到时 候，高市早苗现在的62%的支持率，恐怕就像盛 ...

Group 1 - The U.S. Treasury Secretary, Besant, stated that China has fulfilled its commitments regarding the purchase of U.S. soybeans and the supply of rare earths, with a satisfaction level regarding the progress of rare earth supply at over 90% [1][3] - China is expected to purchase 25 million tons of U.S. soybeans in the upcoming year, having completed its annual soybean procurement task [3][4] - Despite the positive outlook from U.S. officials, American farmers express concerns about the actual shipments of agricultural products, noting a significant increase in China's purchases from Brazil and Argentina [4][5] Group 2 - The U.S. has indicated that China agreed to purchase 12 million tons of U.S. soybeans by January 2026, with a commitment to at least 25 million tons annually over the next three years [4] - The trade relationship between the U.S. and China appears to be improving, as indicated by recent discussions between U.S. and Chinese officials at the World Economic Forum [4] - The agricultural sector's performance is critical for U.S. political dynamics, particularly for President Trump's strategy to secure votes from farmers [5]