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河南资本市场月报(2025年第7期)-20250814
Zhongyuan Securities·2025-08-14 11:38

Economic Performance and Comparison - In the first half of 2025, China's GDP reached 66,053.6 billion yuan, growing by 5.3% year-on-year, exceeding market expectations [11] - Henan Province's GDP for the same period was 31,683.80 billion yuan, with a growth rate of 5.7%, ranking second in the central region and sixth nationally [17] - The industrial added value in Henan increased by 8.4%, outperforming the national average by 2.0 percentage points, with manufacturing contributing 90.7% to this growth [18] Consumption and Investment - Henan's retail sales of consumer goods totaled 14,201.55 billion yuan, growing by 7.2%, which is 2.2 percentage points higher than the national average [20] - Fixed asset investment in Henan rose by 5.1%, surpassing the national growth rate by 2.3 percentage points, with industrial investment showing a significant increase of 25.9% [21] - The province's foreign trade reached a total value of 412.53 billion yuan, marking a year-on-year growth of 26.2%, significantly higher than the national growth rate of 23.3% [24] Market Trends - In July 2025, the Henan Index increased by 3.36%, outperforming both the Shanghai Composite Index and the CSI 300 Index [58] - The top three A-share performers in Henan for July were Shejian Institute (58.73%), Puyang Nayi Co., Ltd. (46.63%), and Shijia Photon (42.18%) [60] - The cumulative increase of the Henan Index for the first seven months was 14.12%, consistently outperforming major benchmark indices [58] Policy and Regulatory Environment - In July 2025, the Henan provincial government introduced several policies aimed at improving the quality of listed companies and optimizing the business environment [38] - The central government emphasized maintaining policy continuity and stability while enhancing flexibility and foresight to support economic growth [16] - Policies were also introduced to support employment stability and promote high-quality economic development [31]