当地时间7月28日至29日，中美双方在瑞典斯德哥尔摩举行新一轮经贸会谈。根据会谈共识，双方将继续推动已暂停的美方对等关税24%部分以及中方反制 措施如期展期90天。有分析认为，在中美短时间内难以化解经贸分歧的情况下，这一共识为双方保持对话磋商争取了更多时间，符合国际社会预期，为世界 经济带来确定性。正在中国访问的美中贸易全国委员会董事会主席芮思博表示，美中贸委会乐见两国政府经贸团队保持对话并取得积极成果。 这次会谈是中美继达成日内瓦共识、伦敦框架后，再次就经贸问题举行面对面磋商。一天半时间里，双方贯彻落实两国元首6月5日通话重要共识，充分发挥 中美经贸磋商机制作用，就彼此关切的重要经贸议题进行了坦诚、深入、富有建设性的交流，回顾并肯定了中美日内瓦经贸会谈共识和伦敦框架落实情况。 值得注意的是，双方在交流中有不少共识，比如都认识到稳定的中美经贸关系对两国乃至全球经济的重要意义，强调发挥好中美经贸磋商机制作用、推动取 得更多磋商成果。美方也用了"建设性"来形容此次会谈。外界分析认为，这展现了中美双方都有解决问题的意愿。 根据今年5月中美日内瓦会谈共识，双方达成90天的关税"休战"期，这项举措将于8月12日到期。此 ...

Group 1 - China will take reasonable energy security measures based on its national interests in response to potential higher tariffs on Russian oil purchases [1] - The Chinese government emphasizes that there are no winners in a trade war and that coercion and pressure will not resolve issues [1] - The Chinese side is committed to safeguarding its sovereignty, security, and development interests [1] Group 2 - The recent China-U.S. economic and trade talks in Sweden aimed to extend the suspension of certain tariffs and countermeasures for 90 days [2] - China hopes to enhance cooperation and reduce misunderstandings through dialogue, aiming for more win-win outcomes in bilateral relations [2] - The talks are based on the important consensus reached during communications between the leaders of both countries [2] Group 3 - The Chinese government has planned to distribute approximately 90 billion yuan in cash subsidies for public welfare, marking the first large-scale, inclusive, and direct cash support since the founding of the People's Republic of China [3]

责编：李驿达、陈亚楠 新华社快讯：中国商务部国际贸易谈判代表兼副部长李成钢29日说，在过去一天半时间里，中美双方经 贸团队根据两国元首6月5日通话共识，继续发挥中美经贸磋商机制作用，就彼此关注的重大议题进行了 深入、坦诚、建设性的交流。 ...

Group 1 - The core viewpoint of the article highlights the ongoing constructive dialogue between the US and China regarding significant economic issues, as emphasized by China's Vice Minister of International Trade Negotiations, Li Chenggang [1] Group 2 - The discussions are a continuation of the consensus reached during the phone call between the leaders of both countries on June 5 [1] - The economic teams from both nations have engaged in in-depth and candid exchanges over the past day and a half [1]

Group 1 - The core viewpoint of the article highlights the commencement of Sino-U.S. economic and trade talks in Stockholm, Sweden, emphasizing the importance of mutual respect and cooperation for win-win outcomes [1] - The Chinese Ministry of Commerce spokesperson stated that the discussions will follow the important consensus reached during the phone call between the two countries' leaders on June 5 [1] - The article indicates that the talks aim to address mutual economic and trade concerns between China and the U.S. [1] Group 2 - The article mentions a sudden development in the A-share market, specifically regarding stock 002512, which has been placed under investigation by the China Securities Regulatory Commission [1]

Group 1 - China opposes unilateral sanctions without international legal basis and urges Ukraine to correct its actions [1] - China emphasizes the importance of equal dialogue and cooperation in the upcoming US-China economic talks [2] - China firmly opposes any agreements that sacrifice its interests in trade negotiations [3] Group 2 - China expresses concern over the detention of Chinese scholars in the US and calls for an end to discriminatory practices [4][5] - China is committed to maintaining close communication with Cambodia and Thailand to promote peace and stability in the region [6]

Group 1 - The core viewpoint of the article emphasizes the importance of the upcoming China-U.S. economic talks in Sweden, highlighting China's consistent stance on mutual respect and cooperation for stable bilateral relations [2] - The Chinese government expresses hope for the U.S. to work together to implement the important consensus reached during the recent phone call between the two countries' leaders [2] - The article mentions that Chinese Vice Premier He Lifeng will attend the economic talks in Sweden from July 27 to 30, focusing on issues of mutual concern [2] Group 2 - The article discusses concerns regarding the treatment of Chinese scholars in the U.S., noting recent incidents of arbitrary detention and the infringement of their rights [4] - The Chinese government urges the U.S. to stop discriminatory law enforcement against Chinese students and scholars, emphasizing the need for a respectful and cooperative educational exchange [4] - The article highlights that the ongoing actions by the U.S. could ultimately harm its own image and international reputation [4]

Key Points - The report highlights a selection of stocks for July, including companies such as 滨江集团 (Binjiang Group) and 顺丰控股 (SF Holding) as part of the recommended investment portfolio [1] - The macroeconomic analysis indicates a gradual appreciation of the RMB against the backdrop of easing trade policy uncertainties between the US and China, which enhances the competitiveness of Chinese exports [2][6] - The report notes a slight decrease in the overall activity of mergers and acquisitions in the A-share market, with a total of 66 disclosed transactions amounting to 5233.44 billion RMB, indicating a trend towards structural reorganization despite a decrease in the number of major deals [12] - In the nuclear fusion sector, significant advancements have been made in China's nuclear fusion technology, which is expected to benefit from ongoing investments and the development of related industrial chains [13][15] - The report discusses the emergence of a new market for AI Infra catalyzed quartz fiber cloth, with the company 菲利华 (Philips) leveraging its full industry chain advantages to gain a first-mover advantage in the electronics fabric sector [17][18]

Core Viewpoint - The article discusses the ongoing tensions between the U.S. and China regarding TikTok, highlighting the U.S. Secretary of Commerce's statement that TikTok may have to cease operations in the U.S. if a sale is not approved by China [1] Group 1 - The U.S. Secretary of Commerce, Gina Raimondo, indicated that TikTok must stop operating in the U.S. if China does not approve the sale of the app [1] - The U.S. government emphasizes the need to control the algorithms that support TikTok's operations [1] - The Chinese Foreign Ministry has reiterated its stance on the TikTok issue, indicating that it has previously clarified its principles regarding the matter [1]

Group 1: Investment Rating - There is no information provided about the industry investment rating in the report. Group 2: Core View - The stock index futures may shift to a volatile pattern [3] Group 3: Summary of Key Information 1. Index Futures Data - On July 23, the monthly contracts of the four major index futures showed mixed trends. IF rose 0.27%, IH rose 0.46%, IC rose 0.07%, and IM rose 0.01% [1] - In terms of trading volume, the total trading volume of index futures rebounded. IF increased by 13,706 lots, IH by 7,078 lots, IC by 12,645 lots, and IM by 19,443 lots. In terms of positions, IF's total position increased by 1,510 lots, IH decreased by 1,022 lots, IC increased by 2,910 lots, and IM increased by 9,947 lots [1][2] 2. Basis of Index Futures - The report presents the basis trends of IF, IH, IC, and IM from June 27 to July 23 through charts [4] 3. Positions of the Top 20 Futures Members - In the IF series, IF2508's long - position decreased by 56 lots, and short - position decreased by 892 lots; IF2509's long - position decreased by 1,337 lots, and short - position decreased by 515 lots; IF2512's long - position increased by 515 lots, and short - position increased by 553 lots [5] - In the IH series, IH2508's long - position decreased by 569 lots, and short - position decreased by 476 lots; IH2509's long - position decreased by 1,610 lots, and short - position decreased by 1,337 lots; IH2512's long - position increased by 110 lots, and short - position increased by 137 lots [5] - In the IC series, IC2508's long - position decreased by 2,175 lots, and short - position decreased by 1,925 lots; IC2509's long - position increased by 997 lots, and short - position increased by 870 lots; IC2512's long - position increased by 1,088 lots, and short - position increased by 1,539 lots [5] - In the IM series, IM2508's long - position increased by 2,420 lots, and short - position increased by 2,410 lots; IM2509's long - position increased by 4,084 lots, and short - position increased by 2,791 lots; IM2512's long - position increased by 1,568 lots, and short - position increased by 2,056 lots [5] 4. Trend Intensity and Important Drivers - The trend intensity of IF and IH is 1, and that of IC and IM is also 1. The trend intensity ranges from - 2 to 2, with - 2 being the most bearish and 2 being the most bullish [6] - Important drivers include: He Lifeng will go to Sweden to hold economic and trade talks with the US from July 27 to 30; the spot price of industrial silicon rose significantly this week, with the main contract's closing price rising from 8,745 yuan/ton to 9,525 yuan/ton, an increase of 8.92%. The Shanghai Composite Index rose 0.01%, the Shenzhen Component Index fell 0.37%, and the ChiNext Index fell 0.01%. A - share trading volume was 1.9 trillion yuan [6]