关注AI行业监管政策推行

Report Summary 1. Industry Investment Rating No investment rating information is provided in the report. 2. Core Viewpoints - The AI industry is facing strengthened regulatory efforts, with the Supreme People's Court increasing protection of innovation achievements in key technology fields such as big data and artificial intelligence [2]. - The RMB cross - border payment system is being enhanced through the joint efforts of four departments, aiming to improve its functions and global network coverage [2]. - Various industries show different trends, including price fluctuations in the upstream, changes in开工 rates in the mid - stream, and sales and service conditions in the downstream [2][3]. - The credit spreads of the pharmaceutical and chemical industries have recently declined slightly [4]. 3. Summary by Directory 3.1. Mid - level Event Overview - Production Industry: The AI industry's regulatory intensity has increased, with the Supreme People's Court strengthening the protection of intellectual property rights in key technology fields in 2024 and applying punitive damages in 460 civil intellectual property infringement cases [2]. - Service Industry: Four departments have jointly issued an action plan to enhance the functions and global network coverage of the RMB cross - border payment system (CIPS), aiming to provide more convenient cross - border financial services [2]. 3.2. Industry Overview - Upstream: International oil prices and the prices of copper, zinc, and nickel are fluctuating due to tariff impacts; cement and building material prices are continuously falling, while egg prices are rising [2]. - Mid - stream: The PTA开工 rate has rebounded, the PX开工 rate has recently declined, and the开工 rates of polyester and urea are at this year's high levels; the asphalt开工 rate has reached a three - year low [2]. - Downstream: The sales of commercial housing in first - and second - tier cities are the same as last year and at a three - year low; international flight frequencies have increased, while domestic flight frequencies have decreased compared to the same period [3]. 3.3. Market Pricing The credit spreads of the pharmaceutical and chemical industries have recently declined slightly [4]. 3.4. Industry Credit Spread Tracking (as of 4/23) - Different industries show various trends in credit spreads. For example, the credit spread of the leisure service industry has increased significantly by 98.40 BP, while that of the real estate industry has decreased by 8.80 BP [43]. 3.5. Key Industry Price Index Tracking (as of 4/22) - Agriculture: The spot price of eggs has increased by 4.26% year - on - year, while the spot price of palm oil has decreased by 1.47% [44]. - Non - ferrous Metals: The spot price of copper has increased by 1.49% year - on - year, while the spot price of zinc has decreased by 0.89% [44]. - Energy: The spot price of Brent crude oil has increased by 2.13% year - on - year, while the spot price of liquefied natural gas has decreased by 0.09% [44]. - Chemical Industry: The spot price of urea has increased by 2.69% year - on - year, while the spot price of PTA has decreased by 0.29% [44]. - Real Estate: The building materials composite index has decreased by 0.03% year - on - year [44].