上海市委金融办常务副主任周小全在发布会上表示，2025陆家嘴论坛将于2025年6月18日至19日召开， 论坛主题为"全球经济变局中的金融开放合作与高质量发展"。本届论坛由中国人民银行、国家金融监督 管理总局、中国证监会和上海市人民政府共同主办，由中国人民银行行长与上海市人民政府市长共同担 任轮值主席。（上证报） ...

人民银行加快推进支持上海国际金融中心建设的相关政策储备 智通财经5月30日电，上海市政府5月30日举行新闻发布会，介绍2025陆家嘴论坛有关情况。中国人民银 行办公厅副主任李克歆在发布会上透露，人民银行加快推进支持上海国际金融中心建设的相关政策储 备。今年以来，人民银行与上海市政府研究出台了支持上海国际金融中心建设的一系列政策举措，近期 部分政策已经发布。比如，联合出台了《上海国际金融中心进一步提升跨境金融服务便利化行动方 案》，并举行了新闻发布会。支持上海落地债券市场"科技板"，在上海开展跨国公司跨境资金池业务试 点，支持上海出台《上海市浦东新区促进中国（上海）自由贸易试验区自由贸易账户业务发展若干规 定》等。"还有一些政策，我们正在紧锣密鼓加快推进。"李克歆说。李克歆同时透露，中国人民银行行 长潘功胜将出席论坛的开幕式，致开幕辞并作主题演讲。另外，中国人民银行副行长、国家外汇局局长 朱鹤新也将出席并作主题演讲。 ...

5月30日，上海市政府举行新闻发布会，介绍2025陆家嘴论坛有关情况。据介绍，中国人民银行潘功胜 行长将出席论坛的开幕式，致开幕辞并作主题演讲。另外，中国人民银行副行长、国家外汇局局长朱鹤 新也将出席并作主题演讲。(东方网) ...

一、事件：陆家嘴论坛 2025陆家嘴论坛将于6月18日至19日在上海举办。 论坛是由上海市人民政府和中国人民银行、国家金融监督管理总局、中国证监会共同主办的高层次经济金融论坛。 自2008年首届论坛起，陆家嘴论坛已经成为国家金融管理部门释放重要信号、对外发声的平台，多项重要高水平对外开放举措和政 策在论坛期间推出，成为金融市场以及资本市场的政策风向标。 2024年论坛期间，证监会推出了进一步深化科创板改革的"科创板八条"。2023年论坛则是发布了《上海国际再保险中心建设实施细 则》。 一般来说，大金融往往在论坛期受到关注。中信证券指出，从基本面来看，当前金融子行业呈现三个共性：一是，宏观与产业政策 为各行业创造了良好的发展环境；二是，低利率环境对行业影响犹在；三是，供给侧改革中一流金融机构的核心竞争力逐渐形成。 其中银行得益于宏观政策指向降行业系统性风险的方向，有助投资者对银行净资产的重新定价，预计这是2025 年行业估值上行的内 在动力。 证券方面，当前，证券行业估值已回调至合理位置，有望在基本面、政策面和流动性利好的支持以及行业并购重组题材的刺激下， 持续展现自身弹性。 保险方面，分红险转型是保险公司商业 ...

①美联储会议纪要：维持利率稳定担忧关税与通胀 凌晨公布的美联储会议纪要显示，美联储官员在5月会议上担心关税可能加剧通胀，并给利率政策带来 难题。官员们对财政和贸易政策走向持续存在担忧，最终决定维持利率稳定。会议纪要称，经济前景的 不确定性增加，在政府政策调整的净经济效应更清晰之前，应保持谨慎。尽管如此，经济增长和劳动力 市场仍稳健，消费者继续支出。美联储维持基准联邦基金利率在4.25%-4.5%的目标区间内。官员们表 示，在考虑再次降息之前，将等待更多明确信息。会议还讨论了美联储的五年政策框架。会议纪要指 出，需要一种"能适应各种经济环境"的政策。官员们还表示，他们无意改变通胀目标。 国鸣投资秦毅：美国经济活动稳健扩张，但存在就业活动下行和通胀上升风险，美国失业率在4月上升 至4.7%，核心PCE升到3.5%。在利率调整前，需要更明确的通胀和经济活动前景数据支持。明晚将发布 4月PCE数据。 法国里昂商学院管理实践教授李徽徽：美联储在五月会议纪要中维持高利率看似稳健，实则在积聚系统 性风险。一方面，高位的实际利率已严重抑制私人和企业信贷与投资；另一方面，就业市场已出现转弱 前置信号。更关键的是，当前高利率正掣 ...

Core Viewpoint - The event aims to explore the development trends and investment opportunities in the biopharmaceutical industry, facilitating deep communication between the industry and capital markets, and breaking down information barriers [1][3]. Group 1: Event Overview - The 13th session of the Lujiazui Financial Salon will be held on May 30 in Shanghai, focusing on "Capital Driving the Leap of the Biopharmaceutical Industry" [3]. - The event invites prominent guests from the scientific, industrial, and capital sectors to discuss the biopharmaceutical industry's development trends and investment opportunities [1][3]. Group 2: Key Speakers - Yuan Quanhong, founder and CEO of Hankan Capital, has over 20 years of experience in the pharmaceutical field and has led investment decisions for over 40 projects, many of which have become industry leaders [3]. - Ma Dawei, an academician of the Chinese Academy of Sciences, has long engaged in basic research and innovative drug development in the biopharmaceutical field, receiving multiple prestigious awards [6]. - Xu Yaochang, founder and CEO of Heyu Pharmaceutical, has over 25 years of experience in new drug research and management, leading numerous innovative drug projects across various disease areas [11]. - Bai Jiajie, investment director at Taibao Private Equity Fund Management Co., has 18 years of experience in capital markets, leading over $15 billion in overseas IPOs and significant cross-border mergers and acquisitions [14]. - Yang Ying, head of strategy and business development for Sanofi Greater China, has 20 years of experience in the pharmaceutical industry, covering various fields including strategic planning and drug development [17]. Group 3: Discussion Topics - The dialogue will focus on collaborative development between the biopharmaceutical industry and capital, discussing topics such as technological breakthroughs, enterprise growth paths, capital demands, and the integration of industry and academia [20]. - The event aims to provide practical suggestions for the deep integration of industry and capital through cross-disciplinary discussions [20]. Group 4: Event Support and Goals - The Lujiazui Financial Salon is guided by the Shanghai Municipal Financial Office and the People's Government of Pudong New District, with media support from various financial news outlets [21]. - The series of events serves as a regular communication platform, aiming to continuously contribute to financial reform and support the high-quality development of the Pudong economy [21].

Group 1: Consumer Confidence and Economic Indicators - The US Consumer Confidence Index improved in May, with the current conditions index rising to 135.9 and the expectations index soaring to 72.8, marking a rebound after five consecutive months of decline [2] - The decline in core capital goods orders by 1.3% in April represents the largest drop since October, driven by a decrease in durable goods orders, particularly commercial aircraft [2][3] - The S&P CoreLogic Case-Shiller National Home Price Index showed a year-over-year increase of 3.4% in March, down from 4% in February, indicating a slowdown in home price growth due to increased housing inventory and limited buyer demand [2] Group 2: Japanese Economic Outlook - The Bank of Japan's Governor, Kazuo Ueda, warned of potential inflation risks from rising food prices, suggesting a possible signal for further interest rate hikes [4][5] - Japan's debt-to-GDP ratio stands at 260%, raising concerns about fiscal stability as the government considers adjusting its bond issuance strategy [4] - Despite recent challenges in the bond market, Japan's economic fundamentals remain strong, with rising inflation indicating economic overheating and increased tourist activity [5] Group 3: Precious Metals Market - Platinum prices surged to a new high of $1,104.8 per ounce, reflecting a more than 10% increase over the week, driven by geopolitical factors and strong demand from the automotive industry [6][7] - The World Platinum Investment Council forecasts a supply shortage of 1 million ounces by 2025, highlighting the industrial demand for platinum, particularly in emissions control [6][7] Group 4: Microsoft and AI Developments - Microsoft unveiled its comprehensive strategy for AI at the Build 2025 developer conference, launching over 10 AI tools and 50 product updates, aiming to establish a leading position in the AI ecosystem [8] - Deutsche Bank maintained a "Buy" rating on Microsoft, projecting a target price of $475, citing the company's extensive product coverage and user base as key advantages in monetizing AI [8][9] Group 5: Institutional Investment Trends - The California Public Employees' Retirement System reduced its stake in Apple by 5.1 million shares, signaling a potential decline in institutional confidence in the company amid tariff-related challenges [10] - The fund increased its holdings in Meta, AMD, and McDonald's, which are less affected by tariffs and have a higher degree of localized manufacturing and service provision [10][11]

Core Insights - On May 27, three real estate projects in Shanghai experienced rapid sales, indicating strong demand in the market [1] - The BUND98 project in Yangpu sold all 223 units on the first day, with an average selling price of 126,400 RMB per square meter [1] - The Junyun Jinmao Mansion in Putuo sold 1.45 billion RMB worth of units within 36 minutes of its launch, showcasing the high demand for properties in prime locations [1] Market Trends - There is a concentrated demand for improved housing in high-quality, core areas such as Xuhui, Huangpu, and Lujiazui [1] - Not all projects in the main urban areas are experiencing the same level of sales success, indicating a selective market [1]

①小摩调查："抛售美国"情绪日益高涨 更多人看好欧洲股市！ 周一美国和英国股市休市，欧股因特朗普延长欧盟关税期限提振市场情绪而收涨。随着穆迪下调美国主 权信用评级以及新的支出法案对联邦赤字的影响不明，国际投资者对美国资产的担忧加剧。摩根大通全 球市场会议调查显示，36%的投资者预计欧洲股市今年将表现最好，而仅17%投资者看好美国股市。分 析认为，美国股市的高估值、人工智能前景不明以及贸易政策的不确定性动摇了投资者对"美国例外 论"的信心。与此同时，欧洲市场因斯托克欧洲600指数今年以来上涨7%而吸引投资者。尽管如此，华 尔街大佬们仍建议投资者不要抛售美国资产。摩根士丹利预测美国主导地位将保持到2026年，高盛则认 为美国大型股将继续跑赢大盘。不过，市场不确定性仍存，包括经济衰退风险、贸易谈判进展和地缘政 治等因素。 星展银行邓志坚：欧盟对美国出口额约占总出口额的14%，约占GDP的3.5%，即使被加征更多关税，对 欧盟的影响有限。特朗普此前威胁对欧盟加征关税，可能未必真是为了增加财政收入，而是希望欧洲企 业投资于美国，同时欧盟能购买更多的美国国债。欧盟第一季度实际GDP环比增长0.3%，同比增长 1.4%，另 ...

Group 1 - Company Sun Energy plans to repurchase shares worth between 100 million to 200 million yuan for cancellation, with a maximum repurchase price of 6.69 yuan per share [1] - Company Runyang Technology intends to invest up to 300 million yuan in Shanghai Fourier Intelligent Technology Co., with a pre-investment valuation of 8 billion yuan [1] - Company Heng Rui Medicine's subsidiary has received approval for clinical trials of SHR-4712 injection for treating advanced solid tumors [2] Group 2 - Company Lianhuan Pharmaceutical plans to increase capital by 60 million yuan for its wholly-owned subsidiary [2] - Company Hongchang Electronics' subsidiary plans to increase capital by 10 million USD for its other subsidiary [2] - Company Sichuan Meifeng intends to repurchase shares worth between 50 million to 70 million yuan for cancellation, with a maximum repurchase price of 10.07 yuan per share [2] Group 3 - Company Lian Micro plans to liquidate and deregister Jiaxing Kangjing Semiconductor Industry Investment Partnership [4] - Company Jiutian Pharmaceutical has received approval for clinical trials of PDX-04 drug for treating acute gout attacks [5] - Company Pingzhi Information has signed a framework agreement with China Telecom for a GPU computing power project worth approximately 246 million yuan [7] Group 4 - Company Jiu Zhi Tang's subsidiary has initiated Phase II clinical trials for new drug YB211 aimed at treating acute bacterial skin infections [8] - Company Fosun Pharma's subsidiary has received orphan drug designation for HLX22 for gastric cancer treatment in the EU [9] - Company Jianyou Co. plans to repurchase shares worth between 20 million to 40 million yuan for employee stock ownership plans [11] Group 5 - Company Zhi Zheng Co. announced the resignation of its vice president due to personal reasons [13] - Company He Mai Co. signed a cooperation agreement for household photovoltaic systems worth 1 billion yuan [14] - Company Jinan Intelligent's subsidiary won a project bid for electric vehicle charging stations, expected to positively impact performance [16] Group 6 - Company Gaotie Electric plans to distribute a cash dividend of 0.012 yuan per share [18] - Company Guyue Longshan plans to distribute a cash dividend of 0.08 yuan per share [18] - Company Yongmaotai's shareholders plan to reduce their holdings by up to 2.66% of the company's shares [19] Group 7 - Company Tian Cheng Technology's subsidiary received a land idle fee notice for 2.1658 million yuan due to project delays [20] - Company Guangri Co. appointed a new vice president and board secretary to enhance governance [21] - Company Design General Institute won multiple major projects totaling approximately 390 million yuan [22] Group 8 - Company Fuxie Environmental signed a significant contract worth 244 million yuan for a sewage treatment project [23] - Company Lujiazui announced the resignation of its vice chairman due to job transfer [24] - Company Three Squirrels' H-share issuance application has been accepted by the CSRC [24] Group 9 - Company Kanghong Pharmaceutical's subsidiary received approval for clinical trials of KH617 for glioblastoma treatment [25] - Company Xin Zhu Co. announced a suspension of trading to plan an asset acquisition from its controlling shareholder [26] - Company Jianxin Co. announced plans for share reductions by several directors and senior management [28]