中原证券河南资本市场月报

Economic Performance - In 2025, China's GDP reached 1401879 billion CNY, growing by 5.0% year-on-year, meeting the growth target[11] - Henan Province's GDP was 66632.79 billion CNY, with a year-on-year growth of 5.6%, exceeding the initial target of 5.5%[19] - The industrial added value in Henan grew by 8.4%, outperforming the national average by 2.5 percentage points[20] Consumption and Investment - Henan's total retail sales of consumer goods reached 29090.50 billion CNY, increasing by 5.6%, which is 1.9 percentage points higher than the national average[21] - Fixed asset investment in Henan grew by 4.0%, leading among the six central provinces, with industrial investment showing a robust increase of 13.3%[22] Trade and Exports - Henan's total foreign trade value reached 9356.7 billion CNY, a 14.1% increase, significantly higher than the national average of 3.8%[23] - High-tech product exports from Henan surged by 27.5 percentage points to 18.7%, with electric vehicles, lithium batteries, and photovoltaic products showing substantial growth[24] Market Trends - In January 2026, the Henan Index rose by 7.52%, outperforming major indices like the Shanghai Composite and CSI 300[6] - The top three A-shares in Henan for January 2026 were Yuguang Gold Lead (89.87%), Zhongcheng Technology (37.72%), and Guangli Technology (35.67%)[6] Policy and Regulatory Environment - In January 2026, financial regulatory bodies introduced policies to support the real economy and expand domestic demand, focusing on fostering new productive forces[33] - The Henan provincial government implemented several policies aimed at improving economic performance and enhancing living standards in early 2026[37]