机构指出，资金流入规模显著改善与宏观政策持续发力，共同助推A股转向增量市场。 【财经日历】 10:00 国家发展改革委就当前经济形势和经济工作举行新闻发布会 20:30 美国7月失业率、美国7月季调后非农就业人口 | (双)盘前必读 | // 外盘怎么样 // | | | | --- | --- | --- | --- | | 名称 | 现价 | 涨跌 | 涨跌幅 | | 道琼斯工业指数 | 44130.98 | -330.30 | -0.74% | | 纳斯达克指数 | 21122.45 c | -7.22 | -0.03% | | 标普500 | 6339.39 | -23.51 | -0.37% | 当地时间周四，美股三大指数集体收跌，道指跌0.74%，纳指跌0.03%，标普500指数跌0.37%。 热门科技股涨跌不一，Meta涨超11%，微软涨近4%，收盘市值未站上4万元美元，Arm跌超13%，特斯拉跌超3%，谷歌、博通跌超2%。 纳斯达克中国金龙指数收涨0.66%，热门中概股多数上涨，蔚来涨近8%，金山云涨超5%，阿里巴巴、哔哩哔哩、百度涨超2%，理想汽车跌超1%，名创优品 跌超4%。 美国至7月2 ...

一键布局 热门赛道 本基金重点覆盖低空经济、军民融合、大飞机等热门赛道。 32.00% 52.87% 低空经济 大飞机 44.54% 16.23% 24.38% 在展開合 商业航天 长行汽车 注:百分比系将通用航空指数成份股与Wind热门主题指数成份股比较后得出。数据来源: Wind、华宝基金指数研发投资部,截至2025.6.30。 万 745 8 Fri 1 15 空中交通 万亿蓝海 低空空域是城市交通的新范式,伴随政策端空域放开、 基建提速,叠加丰富的应用场景显现,推动万亿级产业 集群加速形成。 商用可期 应用在即 3月28日,中国民航局颁发的全国第一批载人类民用 无人驾驶航空器运营合格证(OC)落地,意味着中 国通用航空将从试点迈向商业化,"载人时代"序章 低空经济由起步到成熟 正式开启。 )华玉委金 11 : 千万 TE: IIII 下一个科技区口 商业航天 低空经济 室長融合 大 通用航空 ETF 华宝国证 通用航空产业ETF发起式 A 024766 c 024767 8月1日起 乘风发售 当前阶段 龍 设施 1月71 全链覆盖 聚焦整机 空中交通产业链,主要分为飞行器制造、基础设施与 配套保障、运 ...

根据赛迪智库数据，2023年中国低空经济规模达5059.5亿元（增速33.8%），预计2026年突破万亿，复 合增长率约30%。飞行器制造与运营服务占比55%（主导），供应链、消费、交通等占40%，基础设施 潜力待释放。中美引领全球，中国无人机产业全球领先（大疆、亿航智能），eVTOL商业化加速（峰 飞航空、小鹏汇天）。 公司方面，据方正证券表示， 飞行器整机：中直股份、纵横股份、观典防务等； 飞行器供应链：宗申动力、广联航空、光威复材、卧龙电驱等； 7月31日，深圳市发改委发布《深圳市低空基础设施高质量建设方案（2024—2026年）》。其中提到， 到2026年底，建成"1+5+4"（低空经济大科学装置1个、低空经济运行试验区5个、测试场4个）低空经 济总部研发测试总体布局。产业集聚发展水平显著提升，产值规模突破1300亿元。 另据国家发改委官微31日披露，国家发展改革委召开上半年发展改革形势通报会，会议强调要推进低空 经济高质量发展。 点评：我国eVTOL企业近期接连签下创纪录大单。7月16日，阿联酋企业Autocraft与时的科技签署采购 协议，订单金额10亿美元。7月23日，沃兰特航空与泰国泛太平洋有 ...

此外，新质生产力离不开人才和制度支撑。目前，许多地方对企业的补贴多集中于设备采购，忽视研发 投入和人才培养。建议将政策重点转向构建"产学研用"生态，比如支持企业与高校共建实验室，完善知 识产权保护，让创新真正落地生根。 吴霞 31个省区市近期密集部署下半年经济工作，将扩大内需、发展新质生产力、稳定外贸作为三大着力点。 这一部署既体现了对中央政策的贯彻，也反映出地方稳增长的紧迫性。然而，要实现全年经济增长目 标，仅靠常规手段恐难奏效，需在政策执行中突破惯性思维，避免"撒胡椒面"式的资源分配，真正激活 经济内生动力。 各地将消费和投资作为扩大内需的主要抓手，如发放消费券、推动以旧换新、加快"两重"项目建设等。 这些措施短期内能提振数据，但若缺乏长效机制，效果容易衰减。以消费券为例，过去多地发放后虽带 来短期消费反弹，却未能根本扭转居民消费意愿不足的问题。当前，居民储蓄倾向高、收入预期不稳仍 是制约消费的核心因素。因此，政策需从"补需求"转向"稳预期"，通过完善社会保障、优化收入分配， 让居民敢花钱、能花钱。 投资方面，超长期特别国债和城市更新是重点，但需警惕"为投资而投资"。一些地方热衷上马大项目， 却忽视实际效 ...

Core Viewpoint - The frequent incidents of unauthorized drone flights ("black flights") have raised significant public safety concerns, prompting the government to emphasize the establishment of a low-altitude safety regulatory system and the need for real-name registration of drones [2][4][5]. Group 1: Regulatory Developments - The National Development and Reform Commission has called for the establishment of a low-altitude safety regulatory mechanism to clarify safety oversight responsibilities and enhance governance capabilities [2][5]. - The consensus among central departments and ministries is that "no safety, no low-altitude" is crucial for the development of the low-altitude economy [4][5]. - A recent report indicated that by the end of 2024, there will be 1.619 million registered drone users in the industry, with a 98.5% increase in registered drones compared to 2023 [5]. Group 2: Safety Challenges - Unauthorized drone flights pose serious threats to national defense, public safety, and aviation order, with multiple incidents disrupting airport operations in recent years [5][6][7]. - There have been 15 recorded incidents of drone-related injuries in the agricultural sector alone from August 2020 to July 2025, highlighting the risks associated with drone usage [6]. - Criminal activities involving drones, such as theft and drug trafficking, have raised alarms about their potential misuse [6][7]. Group 3: Industry Perspectives - Experts emphasize the urgent need for a comprehensive safety regulatory and defense system for drones to ensure the sustainable development of the industry [8][11]. - The current regulatory framework is seen as relatively clear, but many operators still fail to comply with regulations, citing high approval costs and political pressures [9][10]. - The lack of effective detection and counter-drone infrastructure poses significant challenges to enhancing drone defense and regulatory capabilities [10][12]. Group 4: Market Opportunities - The integration of "drone countermeasures" into the national low-altitude safety regulatory system is expected to create new opportunities for the counter-drone industry [11]. - The global market for drone defense systems is projected to reach over 500 billion yuan by 2030, with urban low-altitude management systems expected to account for around 300 billion yuan [11]. - Despite the potential of the counter-drone market, the industry faces challenges such as a lack of talent and resources, with only a few private companies capable of independent research and development [12][13]. Group 5: Recommendations for Development - There is a call for the government to support the development of the drone defense and regulatory industry, particularly for private enterprises, to ensure safety and compliance [13]. - Experts suggest that the government should lead the establishment of comprehensive regulatory standards for drone defense as part of urban low-altitude management [13].

1 中国7月财新制造业PMI公布 2国家发改委定于8月1日召开新闻发布会,解读 当前经济形势和经济工作 2025年8月1日 星期五 3 美国7月失业率公布 4 特朗普宣布8月1日起对进口半成品铜等产品征 收50%关税 5 香港《稳定币条例》 将于8月1日生效 1 李强主持召开国务院常务会议 国务院总理李强7月31日主持召开国务院常务会议，审议通过《关于深入实施"人工智能+"行动的意见》，部署实施个人消费贷款贴息政策与服务业经营主 体贷款贴息政策，讨论并原则通过《中华人民共和国耕地保护和质量提升法（草案）》。（央视新闻） 2 隔夜市场 美股三大指数集体收跌，道指跌0.74%，纳指跌0.03%，标普500指数跌0.37%，热门科技股涨跌不一，Meta涨超11%，微软涨近4%，盘中一度突破4万亿美 元大关，最终收盘市值3.97万亿美元；Arm跌超13%，特斯拉跌超3%，谷歌、博通跌超2%；半导体设备与材料、减肥药概念股跌幅居前，诺和诺德跌近 6%，科磊跌近5%，阿斯麦跌超3%，礼来、辉瑞跌超2%；设计软件巨头Figma上市首日上涨256%。纳斯达克中国金龙指数涨0.66%，中概股多数上涨，蔚来 涨近8%，金山云涨超 ...

Group 1 - China's July Caixin Manufacturing PMI was released, indicating the current economic situation and work [2] - The State Council, led by Premier Li Qiang, approved the "Artificial Intelligence+" action plan and discussed policies to support personal consumption loans and service industry loans [4] - The Ministry of Commerce expressed expectations for continued dialogue with the U.S. to achieve more win-win results in trade relations [8] Group 2 - The National Development and Reform Commission emphasized the need to stabilize investment and promote consumption, focusing on the "Artificial Intelligence+" initiative and the development of the low-altitude economy [9] - The National Medical Insurance Administration supports the entry of new technologies like brain-computer interfaces into clinical use and pricing mechanisms for new medical technologies [10] - The Ministry of Foreign Affairs urged Japan to take effective measures to ensure the safety of Chinese citizens following an incident in Tokyo [5] Group 3 - The International gold futures fell by 0.31%, closing at $3342.30 per ounce, while silver futures dropped by 2.51% to $36.79 per ounce [5] - International oil prices declined, with WTI crude oil down by 0.91% to $69.36 per barrel, and Brent crude oil down by 0.86% to $71.85 per barrel [6] - Major European stock indices closed lower, with Germany's DAX down by 0.81%, France's CAC40 down by 1.14%, and the UK's FTSE 100 down by 0.05% [7] Group 4 - Amazon reported a second-quarter net profit of $18.16 billion, a year-on-year increase of 34.7%, with revenues of $167.7 billion, up 13% [25] - Apple announced a third-quarter net profit of $23.43 billion, a 9% year-on-year increase, with revenues of $94.04 billion, up 9.6% [26] - BMW's net profit for the first half of the year decreased by 29% to €4 billion, with sales revenue down by 8% to €67.7 billion [27] Group 5 - WeRide reported a second-quarter revenue of 127 million yuan, a year-on-year increase of 60.8%, with its Robotaxi business revenue reaching 45.9 million yuan, up 836.7% [28] - BYD's Yangwang brand announced the pre-sale of the Yangwang U8L at a starting price of 1.3 million yuan [21] - NIO launched the L90 model with a starting price of 179,800 yuan, utilizing a battery-as-a-service (BaaS) model [23]

Core Insights - The Qing Shan Lake Science and Technology City aims to establish itself as a national-level economic and technological development zone, focusing on project acceleration, enterprise enhancement, and technological breakthroughs [1][2] Group 1: Economic Performance - From January to June, the service industry revenue in Qing Shan Lake increased by 110.4%, fixed asset investment rose by 11.6%, and manufacturing investment grew by 16.5% [1] - The region has seen significant growth in technology-driven enterprises, with 20 companies reporting a 67.1% increase in output [2] Group 2: Industrial Development - Qing Shan Lake is developing a "3+1" advanced manufacturing industry system, focusing on new equipment, new materials, and health, while also accelerating the layout of intelligent robotics [2] - The area has established a comprehensive cultivation system for emerging industries, including a key service platform for humanoid robot components [2] Group 3: Investment and Attraction - The region has successfully attracted 36 billion-level projects, including 8 projects exceeding 1 billion, indicating a strong industrial clustering effect [3] - The total number of operating entities in Lin'an District has surpassed 100,000, showcasing the area's growing industrial appeal [3] Group 4: Innovation and Talent - Qing Shan Lake has launched a technology innovation system aimed at increasing the number of national high-tech enterprises and provincial technology-based SMEs [4] - The introduction of young talent has surged, with a 38% increase in university graduates under 35 and a 27.3% increase in PhDs under 40 [4] Group 5: Business Environment - The region has enhanced its service mechanisms, including initiatives like "Investment Qing Shan Lake" and various support measures for businesses [5] - Financial products tailored for enterprises and talent have been introduced, providing low-cost financing solutions [6]

Core Viewpoint - The National Development and Reform Commission emphasizes the need to stabilize employment, enterprises, markets, and expectations while promoting investment and consumption in the second half of the year [1][2]. Group 1: Economic Stability and Growth - The meeting highlighted that China's economy has shown resilience and vitality, with major economic indicators performing well and new productive forces developing positively [1]. - The focus is on strengthening domestic circulation and optimizing external circulation to achieve the annual targets and tasks outlined in the 14th Five-Year Plan [2]. Group 2: Policy Implementation and Planning - The development reform system is tasked with thoroughly implementing the decisions of the Central Committee and the State Council, ensuring a solid foundation for the 15th Five-Year Plan [2]. - There is a call for comprehensive analysis and research on major changes, important indicators, and significant issues to support employment and domestic demand [3]. Group 3: Investment and Consumption - Efforts will be made to stabilize investment and promote consumption, with a focus on expanding investment increments and enhancing the management of government investment projects [3]. - The aim is to invigorate private investment and implement policies that enhance quality and efficiency in the economy [3]. Group 4: Market and Competition - The initiative includes advancing the construction of a unified national market, eliminating "involution" competition, and reforming bidding and investment attraction practices [3]. - The goal is to facilitate smooth circulation of factors and promote healthy and high-quality development of the private economy [3]. Group 5: Sustainable Development - The meeting emphasizes the importance of transitioning to a dual control mechanism for energy consumption and carbon emissions to promote green and low-carbon development [3]. - There is a commitment to enhancing regional and urban-rural coordinated development, focusing on urban renewal and rural revitalization [3].

Group 1 - The meeting emphasized the need for the development reform system to fully implement the decisions of the Central Committee and the State Council, focusing on stabilizing employment, enterprises, markets, and expectations, while strengthening the internal circulation and optimizing external circulation to achieve annual targets and tasks of the 14th Five-Year Plan [1] - Key areas of focus include conducting analysis and research on major changes, important indicators, and significant issues, with an emphasis on stabilizing employment and expanding domestic demand through policy preparation [1] - The meeting highlighted the importance of solidifying investment and promoting consumption, enhancing government investment project management, and stimulating private investment to boost market vitality and consumption [1][2] Group 2 - The meeting called for deepening the construction of a unified national market, eliminating "involution" competition, and promoting the healthy and high-quality development of the private economy [2] - There is a commitment to expanding high-level opening up, balancing "bringing in" and "going out," and promoting high-quality cooperation in the Belt and Road Initiative [3] Group 3 - The meeting stressed the need for a comprehensive transition to green and low-carbon development through dual control of carbon emissions and energy consumption, establishing a new mechanism for this transition [4] - It also emphasized the importance of regional and urban-rural coordinated development, implementing strategies for regional coordination, and promoting rural revitalization [4] - The meeting underscored the need for comprehensive planning and balance to stabilize employment, ensure the safety of key areas such as food, energy, and supply chains, and enhance public welfare services [4]