6月6日，2025中国汽车产业发展（泰达）国际论坛新闻发布会在北京举办。为把握"十五五"时期的阶段 性要求，本届泰达汽车论坛设置1场开幕大会、2场高层峰会、1场高端智库闭门会。4场会议拟邀请相关 政府部门、多产业链企业高层、国内外行业精英参会。此外，泰达汽车论坛新闻发布会联合主办方、协 办方、媒体嘉宾围绕相关领域作专题发言。赵立金指出，要加快推进人工智能、5G等前沿技术落地， 推动产业链协同创新。何毅预测2025年汽车增换购比例将进一步提升至65%以上。谢戎彬解读汽车产业 在绿色化转型、产业生态融合、全球化发展的趋势及路径。孙启俊总结天津经济技术开发区在汽车产业 绿色化、智能化以及强链补链等方面的产业转型升级成果与未来规划。许艳华提到，动力电池技术演进 转向多元协同阶段，需关注出海本地化发展和回收利用体系建设。王震坡指出，需通过强化数据治理、 深化技术融合、拓展场景应用等手段，推动数据要素的高效流通与价值释放。 ...

A股昨天收盘卡在3384点，刚好顶在前期高点连线、近期上涨趋势线和3400点整数关口三重压力位上。 一、3400点攻坚战：技术面与资金面的双重博弈 从技术形态看，上证指数日线级别已经形成"老鸭头"雏形，昨天的收盘价刚好触碰到鸭嘴位置的压力线。这个位置有多关键？2024年四季度以来，3400点附 近堆积了超过2.5万亿的成交金额，大量套牢盘等着解套。 但好消息是，央行昨天开展了1万亿元的逆回购操作，创下单日投放新高，市场流动性充裕。北向资金也逆势加仓67.73亿元，其中中际旭创等科技龙头被大 举买入，这说明聪明资金对突破3400点是有期待的。 昨夜美股又跌了，但我觉得不用慌。外围市场就像坐过山车，短期颠簸不影响上证大方向——昨晚道琼斯虽然跌了0.25%，但纳指金龙指数却涨了0.54%， 中概股整体稳得住。而且德国DAX指数还创了新高，说明全球资金对权益资产的配置热情仍在。 超短线操作上，有个重要信号必须记住：如果今天突然拉出一根实体阳线，涨幅明显超过近三天最大阳线，尤其是成交量放大到1.5万亿以上， 这时候反而要警惕"加速赶顶"风险。这种情况就像跑步时突然冲刺，容易导致体力透支，历史上2024年12月和2025 ...

Group 1: Market Overview - The Hang Seng Index rose by 252 points, marking a three-day increase of 749 points, with a closing value of 23,906 [3] - The overall trading volume for the day was 222.03 billion, with a net inflow of 2 billion from northbound trading [3] - The service sector in China is expanding rapidly, with the Caixin China Services PMI recorded at 51.1 in May, contributing to the recent rise in the Hong Kong stock market [4] Group 2: Government and Regulatory Developments - The Hong Kong government is considering introducing virtual asset derivatives for professional investors, with expectations of market growth by at least 50% if approved [7] - The Financial Secretary of Hong Kong highlighted the city's resilience against pessimistic forecasts, noting a 15% increase in the stock market since 2025 and a significant IPO fundraising scale of 77 billion [8] Group 3: Company-Specific News - Greentown China reported a 3.82% year-on-year decline in contract sales for the first five months, totaling approximately 65.4 billion RMB, while May sales increased by 14.81% year-on-year [11] - Emperor International has terminated the sale of parking and bicycle storage spaces in Tuen Mun, stating that the decision will not significantly impact its operations or financial status [12] - Kid Castle Technology announced the establishment of its global headquarters in Hong Kong, focusing on expanding its financial settlement center and AI R&D capabilities [13] Group 4: Industry Trends - In May, retail sales of new energy vehicles in China increased by 30% year-on-year, with a retail penetration rate of 53.5% [9] - The hospitality sector is expected to see increased demand for hotel rooms in the second half of the year, driven by events such as concerts, with occupancy rates exceeding 90% in the first half [14] - China plans to establish 10 national data element comprehensive pilot zones to enhance the integration of the digital and real economies [10]

Group 1 - In May 2025, the number of newly registered private equity and venture capital fund managers in China dropped to 2, a decrease of 83.3% compared to April and a 60% decline year-on-year [1] - A total of 339 new private equity and venture capital funds were registered, marking a year-on-year increase of 55.5% but a month-on-month decrease of 18.7% [1] - The domestic primary equity investment market recorded 428 financing events, representing a year-on-year and month-on-month decrease of 13.6% and 18.0% respectively, with a total disclosed financing amount of approximately 18.233 billion yuan, remaining stable compared to May 2024 but down 21.5% from March 2025 [1] Group 2 - Yida Capital, a management institution under Jiangsu High-tech Investment Group, has a capital management scale exceeding 120 billion yuan and focuses on various investment stages and sectors [2] - As of the end of May 2025, Yida Capital registered three new funds with a total registered capital of 2.12 billion yuan, including the Ma'anshan Charity Lake Venture Capital Partnership and the Ma'anshan Digital Empowerment Industry Fund [2][3] - The Ma'anshan Charity Lake Venture Capital Partnership, with a total scale of 1 billion yuan, primarily focuses on the life and health industry and its upstream and downstream sectors [2] Group 3 - The Ma'anshan Digital Empowerment Industry Fund, also with a total scale of 1 billion yuan, invests in key areas such as artificial intelligence and data elements [3] - Yida Capital disclosed five equity investment events during the reporting period, remaining stable compared to April 2025 but showing a significant increase of 150% year-on-year [3] - In the first five months of 2025, Yida Capital completed 31 investments, which is 93.9% of the total investment events from May to December 2024 [3] Group 4 - In May 2025, Yida Capital's investments were primarily in growth-stage projects, with Pre-B and B rounds accounting for 60% of the investments [6] - Yida Capital led a Pre-B round investment in "Hengfeng New Materials," which will use the funds to upgrade its product supply system and enhance its strategic layout in the electronic-grade specialty phenolic resin market [11] - Hengfeng New Materials, established in 2018, focuses on high-tech products used in semiconductor packaging and has modern production lines in Anhui and Taizhou to support domestic production [12]

Monetary Policy and Market Dynamics - The People's Bank of China announced a record 1 trillion yuan reverse repurchase operation to maintain market liquidity, countering 1.2 trillion yuan of reverse repos maturing in June, signaling a loose monetary policy favorable for the stock market [3] - The European Central Bank lowered key interest rates by 25 basis points for the eighth consecutive time but hinted at a potential pause in the easing cycle, with inflation nearing the target of 1.6% [3] - The Federal Reserve is expected to maintain interest rates in June with a 97.5% probability, while the likelihood of a rate cut in July has risen to 32%, influenced by upcoming non-farm payroll data [3] Stock Market Performance - A-shares showed mixed performance with the Shanghai Composite Index rising by 0.23% to 3378.82 points, the Shenzhen Component up by 0.58%, and the ChiNext Index increasing by 1.17%, with a significant trading volume of 1.3 trillion yuan [3] - The technology growth sector saw gains, particularly in AI computing and optical modules, driven by Nvidia's market cap milestone and supportive policies [3] - The Hong Kong new consumption sector faced declines, with companies like Laopuyin and Mixue Group dropping over 7% due to high valuations and tightening liquidity [4] Trade and Geopolitical Risks - The U.S. increased tariffs on steel and aluminum imports from 25% to 50%, impacting exports in the automotive and appliance sectors, prompting a response from China urging the U.S. to cease misuse of national security concepts [5] - The Middle East situation escalated with Houthi attacks on Israeli airports, leading to rising oil prices and increased demand for gold as a safe haven [8] - The ongoing Russia-Ukraine conflict continues to pose challenges for the global energy market, with statements indicating difficulties in achieving a ceasefire [9] Industry Developments - The National Data Bureau is establishing 10 national data element comprehensive pilot zones to support big data and AI infrastructure, benefiting related stocks [10] - The restructuring of automotive state-owned enterprises is underway, with the Equipment Group's automotive business becoming an independent entity, expected to enhance competitiveness over a 3-5 year transition period [10] - The initiation of virtual power plant trials by the National Energy Administration aims to support distributed solar and energy storage, with a procurement budget of 50 billion yuan [10] Market Sentiment and Risks - A trading volume below 1.2 trillion yuan may lead to a pullback in technology stocks, with several companies announcing share reductions, putting pressure on thematic stocks [11] - External factors such as stronger-than-expected non-farm payroll data could dampen market sentiment, alongside ongoing trade negotiations between the U.S. and Europe [12] - The intensifying competition within the new energy vehicle supply chain may lead to disappointing earnings for some companies, while rare earth supply shortages could impact the global automotive industry [13]

先给大伙儿拆解外围市场对A股的影响。美联储最新表态说关税问题让降息没戏，美元指数又冲到104以上，全球资金避险情绪升温。不过中概股的强势表 现说明，外资对咱A股科技板块的兴趣还在。欧洲市场的分化也值得注意，德国制造业数据向好支撑DAX指数创新高，但法英经济疲软拖累股市，这种分化 可能让外资在配置A股时更谨慎。 再看看技术面，上证指数最近在3300点到3400点之间反复震荡，今天早盘的关键支撑位在3380点。日线MACD绿柱持续缩短，空方动能衰竭明显，但3400点 上方套牢盘压力不小。创业板指今天可能继续领涨，但2050点附近有强压力位，要突破得看科技成长股能不能持续发力。成交量是关键，早盘半小时要是有 效放大，今天冲击3400点的概率就大；要是缩量到1.1万亿以下，可能得回踩3350点支撑位。 消息面上今天有三大看点。第一，央行开展1000亿买断式逆回购，银行、券商这些高负债板块今天可能表现不错。第二，国家数据局在10个地方搞数据要素 试验区，数据交易、云计算板块可能迎来炒作机会。第三，印尼宣布购买咱们的歼-10战斗机，军工板块今天可能闻风而动。不过也要注意利空因素，美国 钢铝关税涨到50%，钢铁、汽车出口企 ...

•周四（2025年6月5日），A股三大指数集体收涨，截至收盘，上证综指涨0.23%，报3384.1点；科创50 指数涨1.04%，报996.41点；深证成指涨0.58%，报10203.5点；创业板指涨1.17%，报2048.61点。沪深两 市成交总额12904亿元，较前一交易日的11530亿元增加1374亿元。 【商务部回应汽车行业"内卷式"竞争：加强综合整治与合规引导】6月5日，商务部5日举行例行新闻发 布会，商务部发言人介绍近期商务领域重点工作有关情况。有记者就汽车行业相关问题提问。商务部发 言人何咏前表示，近期，商务部有关司局组织行业协会、研究机构和相关企业座谈，听取意见建议，研 究进一步做好汽车流通消费工作。下一步，商务部将会同有关部门，继续加强对汽车消费市场跟踪、研 究和政策引导，推动破除制约汽车流通消费堵点、卡点，更好满足居民多样化、个性化的消费需求。针 对当前汽车行业存在的"内卷式"竞争现象，商务部将积极配合相关部门，加强综合整治与合规引导，维 护公平竞争市场秩序，促进行业健康发展。 【我国部署建设10个国家数据要素综合试验区】6月5日，今天从国家数据局了解到，我国将在北京、浙 江、安徽等地部署 ...

Market Overview - On June 5, A-shares experienced a rebound with the Shanghai Composite Index rising by 0.23% to 3384.1 points, the Shenzhen Component Index increasing by 0.58% to 10203.5 points, and the ChiNext Index gaining 1.17% to 2048.62 points [2][3] - The market saw over 2600 stocks rise, with a total trading volume of approximately 1.3 trillion yuan [2] Sector Performance - The CPO concept saw significant gains, while the computing power leasing concept strengthened in the afternoon. The virtual power plant concept also showed strength, and the digital currency concept remained active [2] - The pharmaceutical sector experienced a pullback, with multiple stocks declining over 5%. Other sectors such as copper cable high-speed connections, PCB concepts, and chips saw notable increases, while agriculture, food and beverage, and gold concepts faced declines [2] International Market - The U.S. stock market indices fell on June 5, with the Dow Jones Industrial Average down 0.25% to 42319.74 points, the S&P 500 down 0.53% to 5939.30 points, and the Nasdaq Composite down 0.83% to 19298.45 points [4][6] - Popular tech stocks mostly declined, with Tesla dropping over 14% and AMD down over 7%. However, the Nasdaq Golden Dragon China Index rose by 0.54% [4] Commodity Prices - International oil prices increased on June 5, with light crude oil futures for July rising by $0.52 to $63.37 per barrel, and Brent crude oil for August increasing by $0.48 to $65.34 per barrel [5] Key Policies and Developments - The People's Bank of China announced a 10 billion yuan reverse repurchase operation to maintain liquidity in the banking system [7] - China plans to establish 10 national data factor comprehensive pilot zones to enhance the integration of the real economy and digital economy [8] - The Ministry of Commerce stated that China will approve compliant rare earth export license applications, which may lead to price increases in the domestic rare earth market [9] - The Financial Regulatory Bureau emphasized increased financial support for technological innovation and is developing policies related to technology insurance [10][11] Industry Insights - The popularity of the Jiangsu Super League has led to a significant increase in tourism and cultural consumption, with a 305% year-on-year increase in scenic area bookings during the event [14] - The coal industry is expected to see a price rebound in June due to stable domestic supply and recovering demand [16] Institutional Perspectives - Shenyin Wanguo Securities highlighted the stable profitability and cash flow improvement in the municipal environmental protection sector, suggesting opportunities in high-dividend stocks [15] - Donghai Securities noted that despite a lackluster tourism performance during the recent holiday, new consumption trends and favorable policies may boost demand in the tourism sector [15]

Group 1: Market Overview - US stock markets collectively declined, with the Dow Jones down 0.25%, Nasdaq down 0.83%, and S&P 500 down 0.53% [1] - Tesla shares fell by 14.27%, while Nvidia dropped 1.36%, Apple decreased by 1.08%, and Meta Platforms fell by 0.48% [1] - Circle's IPO in the US saw a significant increase of 168% on its first day [1] - Broadcom's Q2 revenue exceeded expectations with a 20% increase, but AI revenue guidance was underwhelming, leading to a post-market drop of over 5% [1] - The Baltic Dry Index rose by 9.2%, marking its seventh consecutive day of increase [1] Group 2: Economic Indicators - The US trade deficit narrowed significantly, with imports dropping by 16.3% [1] - First-time unemployment claims in the US reached 247,000, the highest level since October 2024 [1] Group 3: Domestic Developments - China's Ministry of Commerce announced that it will approve export license applications for rare earths that meet regulations [2] - The Chinese government plans to establish 10 national data factor comprehensive pilot zones to enhance the integration of the digital economy with the real economy [6] Group 4: Industry Insights - The data factor market is projected to grow significantly, with the scale of data assets entering balance sheets expected to increase from 48.7 billion yuan in 2024 to 827.8 billion yuan by 2030, a growth of over 16 times [7] - The Chinese automotive industry is facing increased regulatory scrutiny to maintain fair competition and promote healthy development [8] - The pharmaceutical sector is seeing a shift in the perception of Metformin, which is now being recognized for its potential anti-aging properties, with studies indicating a 30% higher chance of living to 90 for women taking it compared to those on sulfonylureas [8] Group 5: Corporate Announcements - Guokai Microelectronics plans to acquire 94.37% of the shares of Zhongxin Integrated Circuit (Ningbo) [10] - Maipu Medical intends to purchase 100% of Yijie Medical, which will enhance its capabilities in the field of interventional biomaterials [10] - HT Development is planning to acquire a controlling stake in Zhixueyun, which is expected to constitute a major asset restructuring [11]

每经记者｜杨建 每经编辑｜彭水萍 点评：实现数据资源共享共用的一种数据流通利用基础设施，是数据要素价值共创的应用生态，是支撑 构建全国一体化数据市场的重要载体。随着政务数据共享的推进，数据治理服务商、隐私计算技术企业 将迎来发展机遇。同时，数据要素市场化将激活金融风控、城市治理、产业规划等领域的商业模式创 新。未来，数据分级分类管理、隐私计算技术将成为关键。政策强调"构建全国一体化政务大数据体 系"，直接利好云计算、大数据平台及数据安全技术企业。概念股包括易华录、同有科技、奥飞数据 等。 2、国际油价全线上涨，布油主力合约涨0.66%，报65.29美元/桶。国际贵金属期货收盘涨跌不一， COMEX黄金期货跌0.68%，报3376.1美元/盎司；COMEX白银期货涨3.31%，报35.795美元/盎司。欧洲 三大股指收盘涨跌不一，德国DAX指数涨0.19%，报24323.58点；法国CAC40指数跌0.18%，报7790.27 点；英国富时100指数涨0.11%，报8811.04点。 3、6月5日，央行公告，为保持银行体系流动性充裕，2025年6月6日，央行将以固定数量、利率招标、 多重价位中标方式开展1000 ...