元旦假期要闻出炉！ 国内财经方面：商务部新闻发言人就欧盟碳边境调节机制有关问题答记者问；2026元旦档票房破7亿； DeepSeek发布新论文提出更为高效的AI开发方法。资本市场方面：香港恒生科技指数收涨4%，壁仞科 技上市首日大涨超75%；国家集成电路基金在中芯国际H股的持股比例从4.79%升至9.25%；百度计划分 拆昆仑芯并于港交所独立上市。国际财经方面：特朗普下令打击委内瑞拉境内目标；特朗普称抓获委内 瑞拉总统马杜罗及其夫人并带离委内瑞拉 国内财经 商务部新闻发言人就欧盟碳边境调节机制有关问题答记者问 商务部新闻发言人就欧盟碳边境调节机制有关问题答记者问。问：欧盟碳边境调节机制（CBAM）于 2026年1月1日起正式实施，欧盟近日密集发布CBAM相关立法提案与实施细则，请问商务部对此有何评 论？ 答：中方注意到，欧盟近日密集发布CBAM相关立法提案与实施细则，包括设定碳排放强度默认值、计 划扩大产品覆盖范围等内容。其中，欧方无视中国绿色低碳发展取得的巨大成效，对中国产品碳排放强 度设定显著偏高的基础默认值，并将在未来三年内逐年提高，这不符合中国当前实际水平和未来发展趋 势，对中方构成不公平、歧视性待遇 ...

今日关注 1、交通运输部：2026年1月1日全社会跨区域人员流动量20813万人次，环比增长0.2%，同比增长21%。 其中：铁路客运量1825万人次，公路人员流动量18726万人次，水路客运量67万人次，民航客运量195万 人次。 2、全国数据工作会议2025年12月29日至30日在京召开。会议要求提到，着力推进数据科技创新和产业 创新深度融合，推动数据科技创新，加快数据产业发展，梯次培育数字产业集群。加力推进数据基础设 施建设和运营，推动数据基础设施规模化部署、系统化应用、一体化发展，持续推进数据基础设施建 设。 宏观经济 1、商务部：2025年，以旧换新相关商品销售额超2.6万亿元，惠及超3.6亿人次。其中，汽车以旧换新超 1150万辆，家电以旧换新超1.29亿件，手机等数码产品购新超9100万部，家装厨卫"焕新"超1.2亿件，电 动自行车以旧换新超1250万辆。 2、2026年1月1日，国家电影局发布2025年全年电影票房统计数据：2025年全国电影票房达518.32亿 元，总观影人次达12.38亿，对比2024年均有超20%的涨幅；国产电影票房412.93亿元，占比为79.67%， 略高于2024年 ...

东部战区发布军事演习主题海报《正义之箭 内控外驱》。 立体火力 精打击要 箭雨飞矢斩独 责 编：万 健 祎 校 对： 彭 其 华 版权声明 证券时报各平台所有原创内容，未经书面授权，任何单位及个人不得转载。我社保留追 究相关 行 为主体法律责任的权利。 神箭摄魂驱敌 东部战区发布军事演习主题海报 《正义之箭 内控外驱》 来 源：东 部 战 区 微 信 公 众 号 转载与合作可联系证券时报小助理，微信ID：SecuritiesTimes END 点击关键字可查看 潜望系列深度报道丨 股事会专栏 丨 投资小红书 丨 e公司调查 丨 时报会客厅 丨 十大明星私募访谈 丨 刚刚！白银再暴涨 丨 俄乌重磅！特朗普：不排除三方 会晤 丨 小米突发！高管拟减持不超过20亿美元股票！ 丨 A股，迎多项利好！ 丨 扩大财政支出盘子！财政部，重磅会议！ 丨 俄乌突发！普京警告！ 丨 金 融圈刷屏！售价12888元，"私募魔女"开投资课！李蓓："我不缺几千万" 丨 俄罗斯宣布重大战果！泽连斯基、特朗普会晤在即 丨 保壳！300472，获赠不超 3.3亿元现金资产+豁免不超0.5亿元债务 丨 人形机器人与具身智能，突传大消息！ 丨 ...

北纬26°32′00″、东经121°40′00″，北纬26°32′00″、东经122°36′00″，北纬25°43′00″、东经122°36′00″，北纬25°43′00″、东经121°40′00″ 四点连线。 北纬24°59′00″、东经120°04′00″，北纬25°39′00″、东经121°13′00″，北纬26°17′00″、东经121°13′00″，北纬25°37′00″、东经120°04′00″ 四点连线。 东部战区发布联合演训区公告及示意图 中国人民解放军东部战区将于2025年12月30日8时至18时，在以下海域和空域，进行重要军事演习，并组织实弹射击。具体为： 北纬23°27′00″、东经118°14′00″，北纬23°27′00″、东经119°13′00″，北纬22°13′00″、东经119°44′00″，北纬22°13′00″、东经118°45′00″ 四点连线。 北纬21°49′00″、东经119°16′00″，北纬21°49′00″、东经121°00′00″，北纬21°05′00″、东经121°00′00″，北纬21°05′00″、东经119°16′00″ 四点连线。 北纬21°58′ ...

基于上述考量，山西证券研究所产业研究团队在聚焦数据和算力两大新型生产要素的基础上，进一步聚 焦研究重点，以数据产业全链条研究为核心，形成了2025年度《数字经济研究报告合集》。本年度报告 合集构建了"总-分-特"完整框架：以数据产业框架性报告为总领，产业链细分报告聚焦数据资源、基础 设施、数据标注、数据存储、数据应用核心环节，既全面呈现全国数据产业发展现状、趋势机遇，也融 入了对山西数据产业发展的针对性思考，以期对区域产业布局提供参考。 数字经济是以数据资源为关键要素的新经济形态。在数字经济深度融入全球经济社会肌理、重塑产业竞 争格局的当下，数据已从辅助性资源跃升为与土地、劳动力、资本、技术并列的第五大生产要素，数据 产业作为承载数据要素产生—加工—流通—应用全链条价值化的核心载体，更实现了从产业价值链支撑 环节向引领数字经济高质量发展核心引擎的战略性跨越。 展望未来，山西证券将把服务培育新质生产力作为重要方向，紧密围绕"五篇大文章"的核心要求，持续 加强对山西经济及特色产业的深入研究。通过扎实的研究工作，积极探索产业研究服务实体经济的有效 路径，为山西区域经济的高质量发展贡献专业力量。 ...

Group 1 - The core viewpoint emphasizes the importance of data exchanges aligning their development with the deep integration of real industries, data industries, and data markets [2]

Market Overview - The Shanghai and Shenzhen stock markets opened lower on October 31, with the Shanghai Composite Index down 0.63% to 3961.62 points and a trading volume of approximately 697.1 billion yuan [1] - The Shenzhen Component Index fell 0.62% to 13447.94 points, with a trading volume of about 859.6 billion yuan, while the ChiNext Index dropped 1.49% to 3214.48 points, with a trading volume of around 394.1 billion yuan [1] Sector Performance - At the opening, sectors such as precious metals, Hainan Free Trade Zone, and duty-free shops showed gains, while sectors like cultivated diamonds, rare earth permanent magnets, and storage chips experienced declines [1] - Notable increases were observed in sectors like sodium batteries, solid-state batteries, internet, Sora concept, immunotherapy, innovative drugs, dispersed dyes, and sci-tech growth layers [1] - By midday, the Sora concept, short drama games, and Xiaohongshu concept led in gains, while communication equipment, cultivated diamonds, and semiconductor sectors faced the most significant declines [1] Institutional Insights - CITIC Securities anticipates a recovery in the macroeconomic and liquidity environment, suggesting investors focus on sectors with strong third-quarter performance and those benefiting from anti-involution policies [2] - China Galaxy Securities predicts a fluctuating upward trend in the A-share market in November, driven by policy support and improved external conditions, emphasizing technology self-reliance and modern industrial system construction as key investment themes [2] Industry Trends - The rise of "AI comic dramas" is noted as a new content form that merges AI technology with short animations, potentially capturing a significant share of internet time among younger audiences [3] - The National Development and Reform Commission and other departments have launched an action plan to promote the integration of data industries with low-altitude economy, unmanned driving, and embodied intelligence, aiming for significant progress by the end of 2027 [4] Economic Indicators - The Purchasing Managers' Index (PMI) for high-tech manufacturing, equipment manufacturing, and consumer goods sectors remains above the expansion threshold, indicating optimistic market expectations [5][6] - The production and business activity expectation index for certain industries, such as non-ferrous metal smelting and aerospace equipment, has risen above 60%, reflecting increased confidence in industry development [6] Government Support - The Ministry of Industry and Information Technology is committed to supporting the growth of small and medium-sized enterprises in the biomanufacturing sector, focusing on technological breakthroughs and market expansion [7]

Economic Performance - The PPI growth rate is expected to continue to rise slightly in the short term, but the momentum for recovery is slowing down, with an anticipated year-end PPI growth rate unlikely to exceed -2%[2][40] - In September, the average daily transaction area of commercial housing in 30 major cities increased by 11.39% compared to August, with a year-on-year growth of 10.91%[11][12] Industrial Demand and Supply - The rebar production rate decreased to an average of 42.21% in September, down 1.65 percentage points from August, indicating a slowdown in industrial demand[17][18] - The average price of rebar fell by 1.88% year-on-year, while inventory levels rose by 7.59% compared to August, suggesting a supply-demand imbalance[18] Export and Trade - Exports are expected to face marginal pressure, particularly due to the impact of U.S. tariff policies, with a notable "rush to export" behavior observed in the first half of the year[3][40] - From January to August 2025, Xinjiang's total foreign trade value reached 356.31 billion yuan, a year-on-year increase of 25.4%[3][40] Consumer Behavior - The inbound tourism sector is showing robust growth, with tax refund sales increasing by 97.5% year-on-year in the first eight months of the year, indicating a conversion of inbound flow into consumer spending[27][41] - The average daily subway ridership in major cities increased by 1.98% year-on-year, reflecting sustained consumer activity despite a slight month-on-month decline[23][24] Risks and Challenges - Potential risks include escalating geopolitical conflicts and the possibility that policy effects may not meet expectations[4]

Group 1 - The fourth Pazhou Algorithm Competition Empowerment Conference was held in Guangzhou, China, attracting 8,131 teams from over 30 countries, with 183 teams reaching the finals and 82 teams winning awards [1] - The competition focused on addressing pain points in enterprise development, driving algorithm innovation and practical application through real-world scenarios [1] - A dual evaluation mechanism of "technology + application" was adopted, emphasizing both algorithm innovation and performance, as well as the applicability and potential for implementation in actual business [1] Group 2 - The event was co-hosted by the Guangzhou Municipal Government and the China Artificial Intelligence Society, highlighting the importance of collaboration in advancing AI technology [1] - During the competition, thematic sub-forums were held on topics such as embodied intelligence, brain-computer interfaces, data industry, and cutting-edge large model technologies [1]

Market Performance - A-shares showed mixed performance from September 15 to September 19, with the Shanghai Composite Index down 1.3% to 3820.09 points, while the Shenzhen Component Index rose 1.14% to 13070.86 points, and the ChiNext Index increased by 2.34% to 3091 points [2][3] - Over 32% of stocks in the A-share market experienced gains during the week, with 122 stocks rising over 15% and 16 stocks declining more than 15% [2] International Market Overview - The U.S. stock market indices rose on September 19, with the Dow Jones Industrial Average up 0.37% to 46315.27 points, the S&P 500 up 0.49% to 6664.36 points, and the Nasdaq Composite up 0.72% to 22631.48 points [3][5] - In contrast, European stock indices fell on the same day, with the FTSE 100 down 0.12%, the CAC 40 down 0.01%, and the DAX down 0.15% [4] Oil Prices - International oil prices decreased on September 19, with WTI crude oil down 1.4% to $62.68 per barrel and Brent crude down 1.13% to $66.68 per barrel [4] Industry Developments - The Chinese government is set to launch a "Cultural and Tourism Consumption Month" with over 330 million yuan in subsidies to boost tourism during the National Day holiday [6] - Several express delivery companies in Shanghai will raise their collection prices starting September 22, primarily targeting low-priced e-commerce shipments [7] - Huawei has initiated the "Tian Gong Plan," committing 1 billion yuan to support the HarmonyOS AI ecosystem [8] Logistics and Supply Chain - China's pharmaceutical logistics costs exceeded 50 billion yuan in the first half of 2025, with cold chain logistics costs alone surpassing 13.5 billion yuan [9] - Southbound capital saw a net inflow of 36.85 billion HKD over the week, marking 18 consecutive weeks of inflows, with notable trading activity in Alibaba and other major stocks [9] Regulatory and Policy Updates - The Chinese government is accelerating the establishment of national standards for pre-prepared dishes to enhance consumer rights [10] - The National Development and Reform Commission emphasizes the importance of investing in data resources and the development of high-quality data sets to support the "Artificial Intelligence +" initiative [8]