11月19日至21日，"2025世界市长对话·南京"活动在江苏南京举行。来自中国和文莱、埃及、德国、意 大利等10个国家的城市市长以及代表参会，分享各国城市治理经验，探讨城市发展未来趋势，为全球滨 水城市可持续发展贡献智慧。 人水共生城水共荣 颜天禄表示，今年是郑和下西洋620周年，郑和将和平、友谊、贸易以及科技带给了马六甲，让马六甲 享有至少1个世纪的繁荣和稳定。目前在共建"一带一路"倡议背景下，马六甲历史城区已经和中国的31 马来西亚马六甲历史城区工作委员会主席颜天禄是在场唯一一位以中文进行分享的外方嘉宾。他讲述 道，马六甲是古代以及21世纪海上丝绸之路的重要节点，见证了千年商贸往来与文明交融。自15世纪以 来，马六甲就是东西方文明的交汇点，马来文化、中华文化、印度文化、阿拉伯与欧洲文化在此碰撞、 融合，形成今天独特而多元的世界文化遗产城市风貌。 滨水城市的发展从来不是孤立的。颜天禄回顾过去，讲述了南京与马六甲作为郑和下西洋出发地和驻扎 地的历史渊源，在2008年正式结为友好城市。结好以来，两市不断深化交流合作，2018年7月马六甲成 功举行"南京文化周"，2019年5月南京夫子庙秦淮风光带与马六甲鸡场街 ...

Core Insights - The total import and export cargo volume at the Alashankou railway and road ports in Xinjiang reached 24.792 million tons in the first ten months of this year, representing a year-on-year increase of 5.2%, indicating a new trend of "dual-driven" foreign trade growth [2] - The ports have optimized customs clearance services, implementing a "smart railway port + local rapid customs clearance" system, which has improved inspection efficiency by over 40% through a combination of machine inspection and manual review [2] - Currently, 128 China-Europe (Central Asia) freight train routes have been opened from the Alashankou port, covering 21 countries including Germany and Poland, providing strong support for China's Belt and Road Initiative [4]

Core Points - The article discusses the escalating trade tensions between the US and China, particularly focusing on tariffs and countermeasures related to the fentanyl crisis and rare earth elements [1][11][20]. Tariff Actions - On February 1, the US imposed a 10% tariff on Chinese goods, citing a national emergency due to fentanyl smuggling, which later increased to 20% on March 3 and reached a total of 54% by April 2 [1][11]. - By October 10, President Trump threatened to raise tariffs to nearly 245% in response to China's rare earth export controls [1][7]. China's Countermeasures - China responded with its own tariffs, including a 15% tariff on US coal and various agricultural products, and implemented export controls on seven rare earth elements [3][11]. - By June 9, China established stricter regulations on rare earth exports, which included a traceability system and increased technical standards [3][9]. Rare Earth Elements - China dominates the rare earth processing market, accounting for over 90% of global production, making it crucial for US military and technology sectors [4][9]. - The US military's reliance on Chinese rare earths highlights the strategic importance of these materials in defense applications [9][20]. Supply Chain Dynamics - The US is attempting to restructure its supply chains by encouraging companies to relocate production to countries like Mexico and Vietnam [5][11]. - Despite US efforts, China's industrial strength remains resilient, with significant growth in exports of solar and electric vehicle technologies [4][18]. Global Trade Relations - China's trade with other countries has been increasing, with a notable 30.3% rise in trade with Italy, indicating a diversification of trade relationships [13][18]. - The article suggests that the trade war has not significantly hindered China's economic integration with other markets, as evidenced by increased foreign direct investment and mergers [16][18]. Strategic Implications - The ongoing trade conflict reflects a broader struggle for influence and control over emerging technologies and standards, with both nations vying for dominance in global supply chains [22][26]. - China's approach to trade and investment is characterized by a focus on cooperation and mutual benefit, contrasting with the US's more protectionist stance [18][26].

Core Insights - The first Morocco Electric Vehicle and Energy Storage Exhibition was held in Casablanca, attracting over 15,000 buyers and professionals from more than 20 countries, showcasing the potential for the electric vehicle industry in Morocco [1][2] - Jiangsu Province has a significant advantage in the electric vehicle industry, being home to the largest electric tricycle production base in China and producing one-third of the country's electric bicycles [1] - Jiangsu enterprises secured over $38 million in transactions and intended orders during the four-day exhibition, highlighting the international competitiveness of "Jiangsu Manufacturing" [1] Industry Developments - Jiangsu enterprises, such as Wuxi Tailg and Xuzhou Songling, reported substantial interest in their electric vehicles, with intended transaction amounts reaching $3.7 million and $3.3 million respectively [1] - The exhibition facilitated various collaborations, including a partnership between Wuxi Xishan Electric Vehicle Foreign Trade Association and the Moroccan Automotive Industry Association to promote electric two-wheelers [3] - A focus on North Africa as a key market was emphasized, with logistics companies exploring cross-border cooperation for the transportation of new energy vehicles and components [3] Legal and Compliance Support - To assist companies in navigating risks during international expansion, Jiangsu Province established a legal service station at the exhibition, providing support on trademark registration, patent strategies, and trade policy consultations [2] - The legal service team addressed concerns regarding intellectual property and customs risks, helping companies comply with local regulations and avoid legal pitfalls in the North African market [2] Strategic Partnerships - Jiangsu Province aims to enhance cooperation with Morocco in technology research, capacity layout, and standard recognition, leveraging both regions' strengths for mutual benefits [4] - The exhibition received strong support from the Moroccan Ministry of Industry and Trade, indicating a positive outlook for future collaborations between Chinese and Moroccan enterprises in the new energy sector [3][4]

全球价值链调整步伐加快，中美经贸关系持续演变，促使企业分散生产布局以应对潜在关税和供应链中 断风险。 2025年上半年，美国对华光伏和电子产品关税覆盖面扩大，东南亚出口总量增长15%，越南电子出口额 同比上升18%。 RCEP协定框架下，区域内中间品贸易占比达66%，中国东部劳动力成本每月升至4000元以上，环保要 求逐步收紧，为高端制造腾出空间。 光伏和手机组装环节转移东南亚，2025年前七个月中国对越南中间品出口达1014亿美元，占其进口总额 40%。这一进程优化国际分工，中国通过技术输出和区域协作，提升制造业整体韧性，推动周边国家融 入东盟市场。 制造业企业选择东南亚而非中西部，源于多层面因素的权衡，包括劳动力供给、基础设施配套和行政服 务效率。 东南亚国家劳动力资源丰富，越南35岁以下人口占比55%，月薪控制在1800至2200元区间，适用于电子 组装和纺织加工等环节。 2025年越南制造业出口增速达18%，泰国汽车零部件本地化率升至60%，物流网络扩展使河内至胡志明 市运输时效缩短20%。这些条件便于企业快速融入东盟和欧美市场。 小米和OPPO在越南建厂后，2025年本地产量已覆盖东南亚销售的35% ...

Core Viewpoint - The company, Beibu Gulf Port, is a key player in the logistics and shipping industry, focusing on container and bulk cargo handling, and is positioned to benefit from the Belt and Road Initiative and the development of the Western Land-Sea New Corridor [2][3]. Company Overview - Beibu Gulf Port is the only state-owned public terminal operator in the Guangxi Beibu Gulf region, playing a crucial role in China's southwestern coastal port group and serving as a significant gateway for international trade with ASEAN countries [3]. - The company was established on August 7, 1996, and listed on November 2, 1995, with its main business activities including port loading and unloading, tugboat services, logistics agency, and cargo surveying [8]. Business Performance - In 2023, the company achieved a cargo throughput of 31,039.78 million tons, a year-on-year increase of 10.81%, accounting for 70% of the total cargo throughput at Beibu Gulf Port [3]. - The container throughput reached 802.20 million TEUs, reflecting a 14.26% year-on-year growth, representing 100% of the port's total container throughput [3]. - The company reported a revenue of 5.535 billion yuan for the first nine months of 2025, marking a 12.92% increase year-on-year, while the net profit attributable to shareholders was 789 million yuan, a decrease of 13.89% [8]. Strategic Initiatives - The company is actively involved in capital operations centered around its core port business, aiming to enhance cooperation with clients and partners to expand its logistics services and improve the efficiency of the Western Land-Sea New Corridor [2][3]. - Beibu Gulf Port has developed specialized services for various imported and exported products, including fruits, alcohol, and meat, and has established multiple shipping routes for fruit imports from Thailand, Vietnam, and Cambodia [3]. Market Position - The company holds a significant market position in the Guangxi, Yunnan, Sichuan, Guizhou, and Chongqing regions, contributing to national strategic initiatives such as the Belt and Road Initiative and the construction of international trade corridors [3]. - As of September 30, 2025, the company had 59,400 shareholders, with a notable increase of 42.47% compared to the previous period [8].

对外承包工程方面，我国企业在共建"一带一路"国家新签承包工程合同额13338.1亿元人民币，同比增 长24.4%(以美元计为1863.3亿美元，增长23.5%)；完成营业额8042.4亿元人民币，增长9.4%(以美元计为 1123.5亿美元，增长8.6%)。 本文编选自"商务部"官网，智通财经编辑：蒋远华。 智通财经APP获悉，11月25日，商务部公布2025年1-10月我国对共建"一带一路"国家投资合作情况。数 据显示，1-10月我国企业在共建"一带一路"国家非金融类直接投资2341.5亿元人民币，同比增长22.3% (以美元计为327.1亿美元，增长21.4%)。 ...

为期一个月的实训课程，"洋学徒"深入企业的冷镦、搓丝、热处理等车间以及检测实验室，接触从原材 料到成品的完整流程。阿努颂在热处理车间上手操作，在他看来，这不仅能提升他的专业技能，更为他 回国就业积累了宝贵经验。 "课堂搬到车间，能直观学习中国企业的先进管理经验和精湛技术，在跨文化环境中也能锻炼沟通能 力，这段经历会让我们在未来求职时具备独特优势。"来自马来西亚的李明德说。 课堂搬进"生产车间" "洋学徒"江西广丰学技术 中新网上饶11月25日电 (朱莹 邱日青)"课堂上学习的理论在这里变得触手可及。"日前，在江西上饶市 广丰区一侨资企业车间，夹杂着机器轰鸣，来自泰国的"洋学徒"阿努颂一边感叹，一边全神贯注地操作 着机器生产设备，他的师傅——上饶市寸金职业培训学校(以下简称"寸金职校")的老师在一旁"手把 手"悉心指导。 连日来，来自泰国、马来西亚等国家的十余名华侨大学留学生，把课堂搬进"生产车间"，在广丰区进 行"一带一路"共建国家产业人才培养专班企业实训，"零距离"感受当地发展的蓬勃脉动，并围绕通用设 备制造业所需的职业素养与技能进行培训。 图为近日，在江西上饶市广丰区一侨资企业，十余名华侨大学留学生在车间 ...

Core Viewpoint - The article discusses the potential for asset value reassessment in the context of franchise rights, particularly focusing on the solid waste management industry and the performance of Junxin Co., Ltd. amid industry challenges [1][3]. Group 1: Industry Challenges - The waste incineration industry is facing saturation and subsidy reductions, leading to a slowdown in growth, prompting some companies to seek cross-industry transformations [3]. - Junxin Co., Ltd. stands out with a different growth trajectory, reporting a revenue of 2.16 billion yuan in the first three quarters of 2025, a year-on-year increase of 23.2% [5]. Group 2: Company Performance - The company achieved a net profit of 610 million yuan, up 48.7%, significantly outpacing revenue growth, indicating strong profit quality with low non-recurring gains [7]. - The acquisition of Hunan Renhe Environment is identified as the primary driver of this performance improvement [9]. Group 3: Acquisition and Financing - Junxin Co., Ltd. acquired 63% of Hunan Renhe Environment through a combination of share issuance and cash payment, which allowed for consolidation of the new business segments [11]. - The company conducted two rounds of private placements in late 2024 and early 2025, raising a total of 2.54 billion yuan [12]. - Post-acquisition, the company's asset scale increased by 40%, net assets by 33%, revenue by 55%, and net profit by 29% [14]. Group 4: Dividend Policy - The company has maintained a high dividend payout ratio, exceeding 70%, with a planned distribution of 510 million yuan in 2024, resulting in a dividend payout ratio of 95% [17][18]. Group 5: Business Model and Market Position - Junxin Co., Ltd. operates primarily in waste incineration, sludge disposal, leachate treatment, and landfill, utilizing BOT and TOT franchise models, which require significant upfront capital investment [26][27]. - The company holds a dominant market share in Changsha, with its top two clients contributing 96.1% of revenue, indicating a strong reliance on government contracts [28][29]. Group 6: Growth Opportunities - The company faces limitations in regional expansion due to local government restrictions on new projects, necessitating further acquisitions and potential overseas expansion [30]. - Junxin Co., Ltd. is actively pursuing international projects, including a waste disposal project in Kyrgyzstan with a total processing capacity of 7,000 tons per day [30]. Group 7: Future Considerations - The company is preparing for an H-share listing to enhance its financial capacity for growth [33]. - There is speculation on whether the franchise-based business model could lead to a reassessment of asset prices, similar to REITs [33].

Core Insights - The article highlights the successful global registration and commercialization of 17 innovative traditional Chinese medicine (TCM) products by Yiling Pharmaceutical, marking a significant step in the internationalization of TCM [1][5][6] - Yiling Pharmaceutical has established a clear pathway for TCM's global integration, moving from physical expansion to cultural integration and value leadership [1][5] Group 1: Global Expansion of TCM - Yiling Pharmaceutical has successfully registered its innovative TCM products in over 50 countries and regions, demonstrating the global reach of Chinese medicine [1][5] - The company emphasizes the importance of theoretical foundations in TCM's internationalization, having developed a comprehensive theory system around "Luo disease" over 33 years [5][6] - The establishment of various international academic exchange platforms has facilitated the global dissemination and research of Luo disease theory [6][9] Group 2: Cultural Integration and Market Strategies - Yiling Pharmaceutical adopts a differentiated market strategy, tailoring its approach to meet the specific medical needs and cultural contexts of different regions [7][8] - In developed countries, the focus is on high-level clinical research to gain trust from the academic and regulatory communities, while in emerging markets, the company integrates its products into local healthcare systems [7][8] - The successful inclusion of Tongxinluo capsules in Vietnam's healthcare system exemplifies the company's effective local integration strategy [7] Group 3: Evidence-Based Medicine and Research - Yiling Pharmaceutical leads in evidence-based research, establishing a robust research framework that supports the clinical efficacy of its TCM products [9][10] - The company has conducted over 40 high-quality evidence-based studies on its innovative TCM products, with significant findings published in prestigious international medical journals [10][12] - This research not only validates the safety and efficacy of TCM but also presents its benefits in modern scientific language, enhancing its global acceptance [10][12] Group 4: Future Outlook and Challenges - Despite the progress, Yiling Pharmaceutical acknowledges ongoing challenges in cultural recognition and regulatory policies, particularly in non-Belt and Road countries [12] - The company believes that collaboration among government, industry, academia, and research institutions is essential to overcome these barriers and further the global impact of TCM [12]