( 图片来源：《澳华财经在线》) 【财经要闻及评论】 IMARC 2025 全球矿业盛会本月将于悉尼盛大启幕 五大洲部长级阵容齐聚 聚焦能源转型与投资新机遇 作者：ACB News 澳村牛哥（David Niu） 在能源转型与供应链重塑的关键周期中，IMARC 2025 的意义早已超越矿业本身。它所折射的是全球资 本、资源与技术力量的新一轮重组与竞合。 悉尼国际会议中心的聚光灯下，全球矿业的格局与合作趋势正在被重新定义。 与此同时，中澳新能源领域的合作，以及融合了关键矿产资源优势和坚定的减排目标的澳大利亚，向 其"未来超级资源强国"的梦想迈进的路径，也更为清晰。 新南威尔士州财政与自然资源部长 Courtney Houssos 亦将出席相关环节，介绍新州在能源安全、基础设 施建设及制造业复兴方面的最新举措。 这一高规格的政府阵容，凸显了澳大利亚在全球关键矿产与清洁能源供应链体系中不断提升的战略地 位。 IMARC首席运营官Anita Richards表示： 来自全球五大洲的能源与矿业部长、央行代表、国际投资机构及产业领袖将于2025年10月21日至23日齐 聚澳大利亚悉尼，出席2025国际矿业与资源大会暨博览 ...

美国那边最近又开始折腾稀土的事儿了，国会里有个议员直接放话，说中国要是不老实供应稀土，就卡 中国航班在美国机场的着陆权。这话听着挺狠的，直接把航权当筹码使。稀土这玩意儿，美国离不开， 中国手里攥着全球七成产量和九成精炼产能，用在F-35战机、导弹导引头还有电动车电机上，缺了它生 产线就得停摆。2025年9月20日，这消息一出，媒体就炸锅了，各种报道说这威胁没啥实际效果，但也 暴露了美国对供应链的焦虑。 早几个月，4月14日，美国就开始担心中国控制关键矿产的风险，国防系 统都受影响。 6月3日，中国暂停稀土出口，直接让美国和欧洲工厂面临短缺，生产线关门的风险直线上升。 到6月9 日，中美贸易谈判里，美国明确要中国放松稀土出口管制。 7月，美国立法压力加大，拜登政府禁了中 国产稀土磁铁用于国防，到2027年强制执行。 8月22日，中国新规打击稀土走私，说这威胁国家安全。 9月18日，美国议员又催特朗普搞盟友策略，对中国稀土加200%关税。 整个过程，美国想通过贸易谈 判和关税逼中国让步，但供应链重塑没那么快，专家说至少得5到10年。 中国带头，9月7日央行买金到10个月连涨。 世界黄金协会9月3日数据，7月买金放 ...

话说回来，中国在2023年7月搞出镓和锗出口管制这事儿，一下子就把美国的供应链搅得鸡飞狗跳。镓这玩意儿主要用在半导体和太阳能板上，全球产量中 国占了94%，锗也差不多，占83%。 美国那边一下子就慌了，因为这些材料直接关系到高科技产业和军用设备。结果呢，出口量直线下降，价格蹭蹭上涨，美国的芯片厂和军工厂开始头疼怎么 找替代货源。 想想看，本来依赖进口的，现在突然卡脖子，生产成本翻倍不说，还得担心库存不够用。这不，管制刚实施几个月，镓出口就几乎停滞，后来慢慢恢复点， 但整体供应还是紧巴巴的。 美国地质调查局后来算了笔账，说如果中国完全禁掉镓和锗，美国国内生产总值可能少34亿美元。这数字听着就够吓人的，实际影响肯定不止这些，因为产 业链一环扣一环，耽误了上游，下游全乱套。 结果呢，2024年8月，中国商务部宣布从9月15日起，对锑矿、锑金属等六种产品管制出口。紧接着，12月3日，直接禁掉向美国出口镓、锗和锑，理由是回 应美国的技术限制。 这下子，锑出口量掉97%，价格从年初1万美元一吨，飙到年底3万美元以上，到2025年上半年，甚至摸到5万美元一吨。有些市场传闻说可能冲到10万美 元，供不应求闹得慌。 美国国防部 ...

Core Insights - The rise of hard discount supermarkets is becoming a new trend in the retail sector, driven by consumer demand for extreme cost-effectiveness and efficiency [2][6] - The hard discount market in China is still in its nascent stage, with a total store count remaining limited and highly concentrated in the Jiangsu, Zhejiang, and Shanghai regions [2][3] Hard Discount Supermarket Characteristics - Hard discount supermarkets focus on absolute low prices, primarily through high self-brand product ratios and efficient supply chain management [3][4] - The average store size for hard discount supermarkets is typically between 500 to 1,000 square meters, with SKU counts ranging from 1,000 to 2,000 [3][4] - Self-owned brands account for a significant portion of sales in hard discount supermarkets, with companies like Aldi achieving up to 90% in self-brand sales [3][6] Market Potential and Growth - The hard discount market in China is projected to exceed 200 billion yuan by 2024, with a penetration rate of only 8%, indicating substantial growth potential compared to countries like Germany and Japan [6] - Aldi's performance in China, with 20 billion yuan in sales from just 55 stores in Shanghai, reflects the market's potential [6] E-commerce Involvement - E-commerce platforms are entering the hard discount market as a strategic choice to differentiate themselves and leverage their supply chain advantages [5][7] - The integration of online and offline operations allows e-commerce companies to quickly penetrate the market and enhance their instant retail capabilities [7] Challenges for E-commerce Companies - The operational logic differences between online and offline retail present significant challenges for e-commerce companies entering the hard discount space [8] - Establishing a sustainable profit model is crucial, as many platforms currently rely on subsidies for growth [8][9] - Companies must focus on building self-owned brands and optimizing supply chains to balance low prices with profitability [8][9]

据媒体报道，美国政府正在评估一项新计划，目标是大幅降低美国对海外生产半导体的依赖，并推动国 内制造、重塑全球供应链。政策目标要求芯片公司在美国生产的半导体数量，与其客户从海外生产商进 口的数量相等。 知情人士透露，若企业长期未能维持1:1比例，将被迫缴纳关税。特朗普曾经表示，在美国加码投资的 科技公司可避免近乎100%的半导体关税。然而，要求国内产能与进口数量匹配，比单纯扩大投资更具 挑战性，因为海外芯片价格往往更低，供应链调整不易，而提升美国产能亦需要时间。 知情人士表示，新规定下，若企业承诺在美国生产100万颗芯片，则会获得相应的额度，使其在新厂尚 未建成前，仍可进口同等数量而不需支付关税。政策初期可能会给予一定的宽限，让企业有时间调整并 逐步扩增美国产能。 白宫发言人Kush Desai表示，美国不能依赖进口的半导体产品，这些产品对国家和经济安全至关重要。 他补充指出："除非政府正式公告，否则任何有关我们政策制定的报道都应被视为推测。" 报道指出，此流程可能对苹果在内的大型科技公司构成挑战，因为这些公司进口的产品包含来自全球各 地的多种芯片，未来可能需要持续追踪所有芯片产地，并与芯片制造商合作，使美国和 ...

Core Insights - The China-Europe Railway Express is facing unprecedented capacity challenges due to the geopolitical tensions stemming from the Russia-Ukraine conflict, leading to reduced operations and increased transportation costs [1][3][5] - Despite these challenges, European countries are exhibiting a surprising calm, influenced by underlying geopolitical dynamics and economic considerations [1][4] Group 1: Trade Dynamics - The long-standing trade imbalance between China and the EU, characterized by a significant surplus in favor of China, has prompted the EU to seek economic rebalancing and reduce dependency on Chinese exports [3][10] - The disruption of the railway's capacity provides a strategic window for both China and the EU to reassess trade flows and supply chain configurations [3][7] Group 2: Geopolitical Influences - The U.S. plays a crucial role in shaping European responses to the conflict, exerting pressure on European allies to unify against Russia, which indirectly affects the operations of the China-Europe Railway Express [4][10] - Poland's recent border closure reflects its dual role as a key EU member and NATO's eastern gateway, highlighting the complex interplay of national interests within the EU [4][10] Group 3: Logistics and Alternatives - The increase in insurance costs and safety concerns due to the conflict has led logistics companies to reconsider their transportation routes, with traditional alternatives like sea and air freight gaining importance despite higher costs [5][12] - The EU is actively promoting diversification of trade routes to reduce reliance on single corridors, encouraging businesses to explore new pathways through Central Asia and the South Caucasus [7][12] Group 4: Structural Changes in the EU Market - Changes in European consumer trends, stringent green regulations, and shifts in manufacturing locations are reshaping the flow of goods between China and Europe [10][15] - The EU's cautious approach to the railway's operational challenges reflects the need to balance short-term economic interests with long-term geopolitical strategies [10][12] Group 5: Long-term Considerations - The long-term viability of the China-Europe Railway Express will depend on the evolving geopolitical landscape, the restructuring of international trade patterns, and the resolution of technical challenges [17][12] - Ongoing high-level communications between China and the EU address macroeconomic issues, with the railway's operational status being one of many factors in their broader dialogue [17]

Core Viewpoint - Mexico's recent tariff increase on 544 items, ranging from 5% to 50%, targets countries without free trade agreements, primarily affecting China, as part of a broader strategy to reshape supply chains and respond to unfair competition [1][6]. Group 1: Policy Changes and Economic Strategy - In September 2025, Mexico expressed intentions to further raise tariffs on vehicles, interpreted as a strategic adjustment in response to geopolitical shifts and regional "de-risking" trends [2]. - Mexico's geographical advantages and integration within the USMCA framework facilitate the transfer of US manufacturing capacity, with trade between the US and Mexico reaching approximately $840 billion in 2024, where over 80% of Mexican exports go to the US [3][4]. Group 2: Tariff Implications and Trade Dynamics - The increase in universal tariffs effectively curbs low-priced imports from China and other Asian economies while avoiding direct violations of WTO principles through selective exemptions for certain trade mechanisms [6][10]. - The US's aggressive trade policies, including raising tariffs on Chinese electric vehicles from 25% to 100%, push the North American automotive supply chain to favor production within the USMCA region, with Mexico as a prime location [4][10]. Group 3: Security and Business Environment - Despite the potential for growth, Mexico's high crime rates, with homicide figures between 29,700 and 31,100 in 2023, pose significant challenges to its manufacturing appeal, increasing operational costs for businesses [7]. - The US has intensified cooperation with Mexico to combat drug trafficking, which may help mitigate some security concerns and enhance the attractiveness of nearshore manufacturing [8][9]. Group 4: China's Strategic Response - China is advised to adopt a differentiated approach rather than a full-scale confrontation with Mexico, focusing on localized compliance production and high-end components to navigate tariff impacts [12]. - Chinese firms should leverage their strengths in performance and cost-effectiveness in sectors like energy storage and commercial vehicles to maintain overseas orders while avoiding direct competition with protected categories [12]. Group 5: Mexico's Limitations and Future Outlook - Mexico's ability to fully replicate China's manufacturing capabilities is limited, particularly in terms of supply chain integration and logistics efficiency, making a dual production strategy in both countries more viable for multinational companies [16][17]. - The potential for Mexico to absorb US industries is contingent on its ability to maintain tariff policies and security collaborations while providing stable exemptions for compliant manufacturing, indicating a limited but possible development window [19][20].

Group 1: Equipment Import Trends - Developed countries' excavator import values peaked and began to decline in H2 2023, while emerging markets like Indonesia and Romania continue to see increases[2] - Piling machine imports in developed countries have also peaked and started to decline, with Romania showing significant growth since mid-2024[2] - Most developed countries' bulldozer imports peaked in early 2023, with the U.S. experiencing the latest decline[2] Group 2: Construction Material Imports - Steel imports for most countries peaked in Q1 2023 and began to decline[3] - Cement imports in developed countries peaked mid-2023 but the decline has been limited, indicating ongoing demand in subsequent stages[3] - Emerging markets like Poland and Romania continue to expand their cement imports despite a general slowdown[3] Group 3: Construction Phases - Most economies have completed the "foundation" and "building structure" phases, now nearing the end of the "laying utilities" phase[4] - Countries like Japan, Romania, India, and Indonesia still show rising crane import values, suggesting ongoing demand for building structures[4] - The "laying utilities" phase is nearing completion as most economies see renewed imports of water pipes and electrical cables[4] Group 4: Equipment Purchase Phase - Some economies, including the U.S., India, Malaysia, and Romania, have entered the "equipment purchase" phase, with significant increases in imports of generators and transformers from 2021 to 2023[5] - Import values for milling machines have shown no significant growth from 2021 to 2023, but have started to rise in late 2024 in several developed countries[5] - Hydraulic press imports have increased in late 2024 across multiple economies, indicating a shift towards equipment acquisition[5]

Group 1 - Trump's tariff policy is reshaping global supply chains and investment landscapes, prompting Switzerland to reassess its role in the world [1][2] - Switzerland has been historically viewed as a neutral mediator, but the current geopolitical climate raises questions about the viability of this stance [1][2] - The U.S. has imposed a 39% tariff on Swiss goods, shocking the nation as the U.S. is its largest single export market, with exports including watches, chocolate, pharmaceuticals, and machine tools [4][5] Group 2 - The trade deficit with the U.S. reached $48 billion as of June, primarily due to surging imports of pharmaceuticals and gold [4] - Swiss companies are considering relocating production to neighboring countries due to the high tariffs, with some already planning to shift operations [5][7] - The Gruyère cheese industry, representing 1,600 dairy farmers, anticipates a decline in exports to the U.S., which accounts for one-third of its market [7] Group 3 - The political debate in Switzerland is intensifying regarding whether to strengthen ties with the EU, with a potential public vote on expanding access to the EU single market [9][10] - Analysts suggest that the tariff situation may inadvertently bolster pro-EU sentiments among the Swiss population [10][11] - The historical neutrality of Switzerland is being challenged, especially in light of recent geopolitical events, including the war in Ukraine [8][11]

Core Insights - The Chinese electric vehicle (EV) market is witnessing a significant shift, with domestic brands like Xiaomi and BYD gaining traction against Tesla, which is experiencing a decline in sales and market share [2][3][4] - The rise of domestic brands is attributed to increased consumer trust in local products, innovative features, and a focus on practical functionality over brand prestige [1][5][6] Group 1: Tesla's Decline - Tesla reported a revenue of $22.496 billion for Q2 2025, a 12% year-on-year decline, marking its largest quarterly drop since 2012 [2] - The number of new vehicle deliveries fell to 384,122 units, a decrease of approximately 13.5% compared to the same period last year, also the largest drop in history [2] - Tesla's stock price dropped over 8% following the earnings report, contributing to a cumulative decline of more than 20% for the year [2] Group 2: Rise of Domestic Brands - Xiaomi's YU7 SUV received 240,000 orders within 18 hours of its launch, indicating strong consumer interest and demand [4][5] - BYD's sales in Europe surpassed Tesla's for the first time in April, highlighting the competitive pressure on Tesla from Chinese manufacturers [2][3] - The market share of Chinese brands has increased from approximately 35% in June 2020 to 70% by October 2022, reflecting a significant shift in consumer preference [6][10] Group 3: Market Dynamics - The Chinese automotive market is evolving towards more personalized, diverse, and scenario-based consumer demands, making it challenging for any single brand to dominate [8][9] - Domestic brands are leveraging advanced technology, such as 800V high-voltage platforms for fast charging and superior range capabilities, to enhance their competitive edge [7][10] - The supply chain development in China has accelerated, enabling local manufacturers to innovate rapidly and meet consumer needs effectively [10][12] Group 4: Competitive Landscape - The competitive landscape is characterized by a collective response from domestic brands to Tesla's new model launches, indicating a shift in market dynamics [4][6] - Companies like Xiaomi are focusing on unique consumer experiences, such as the "zero-gravity" seating in the YU7, to differentiate themselves in the market [7] - The automotive supply chain in China is undergoing a transformation, with a focus on local production capabilities and innovation, positioning Chinese brands as leaders in the global EV market [10][11]