中银证券：中银晨会聚焦-20250115

Core Insights - The report highlights a positive trend in China's export performance for 2024, with a year-on-year growth of 5.9% in dollar terms and 7.1% in RMB terms, indicating a continuation of positive growth momentum [4][5] - The trade surplus for 2024 reached 992.16 billion USD, with a notable increase in December's exports, which grew by 10.7% year-on-year, supported by "export grabbing" strategies [4][5] - Key trading partners such as ASEAN, the EU, and the US contributed positively to the export growth, with the US showing a significant improvement in export contributions [5][6] Market Performance - The Shanghai Composite Index closed at 3240.94, reflecting a 2.54% increase, while the Shenzhen Component Index rose by 3.77% to 10165.17 [2] - The ChiNext Index, representing growth enterprises, saw a notable increase of 4.71%, closing at 2075.76 [2] Industry Performance - The computer sector led the industry performance with a 6.14% increase, followed by media and machinery equipment sectors, which rose by 5.72% and 5.68% respectively [3] - The automotive industry also showed resilience with a 4.97% increase, indicating strong demand and export performance in the automotive supply chain [6]