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金十数据全球财经早餐 | 2025年7月25日
Jin Shi Shu Ju· 2025-07-24 23:03
男生普通话版 下载mp3 女声普通话版 下载mp3 粤语版 下载mp3 西南方言版 下载mp3 东北话版 下载mp3 上海话版 下载mp3 今日优选 欧盟通过总额930亿欧元的对美关税反制计划 特朗普当面要求鲍威尔降息 特朗普支持者要求FOMC公开开会 泰国-柬埔寨边境争议地区发生交火 欧洲央行按兵不动,拉加德未排除未来加息可能性 特朗普否认想摧毁马斯克公司 国务院国资委:带头抵制"内卷式"竞争 央行今日将开展4000亿元MLF操作 市场盘点 周四,得益于美国与贸易伙伴的基金进展,美元指数结束四连跌,最终收涨0.3%,报97.5。美债收益率延续反弹趋势,基准的10年期美债收益率收报 4.402%,2年期美债收益率收报3.931%。 随着全球贸易紧张局势缓和的迹象抑制了对避险资产的需求,现货黄金连续第二个交易日回调,最终收跌0.55%,收报3368.66美元/盎司;现货白银围绕39 美元关口震荡,最终收跌0.52%,报39.06美元/盎司。 由于俄罗斯汽油出口减少的预期盖过了美国允许雪佛龙恢复在委内瑞拉开采石油的消息,国际油价反弹。WTI原油企稳在65美元关口上方,最终收涨 1.12%,报65.95美元/桶;布 ...
“卷价格”转向“优价值”才是正道(评论员观察)
Ren Min Ri Bao· 2025-07-24 22:19
Core Viewpoint - The article emphasizes the need for companies to shift their focus from "price" to "value" and from "peers" to "users" to enhance innovation and market competitiveness, ultimately leading to efficiency improvements and technological advancements [1][3][4] Group 1: Market Competition Dynamics - Recent discussions have arisen regarding the "low-price for market share" and "price for traffic" behaviors on food delivery platforms, prompting regulatory attention [1] - There is a growing recognition that "involution" competition among platforms is detrimental to industry health and merchant growth, although some argue it benefits consumers [1][2] - Short-term consumer benefits from "involution" competition, such as refunds and price wars, may lead to long-term negative impacts on service quality and product standards [2][3] Group 2: Regulatory and Industry Responses - The Chinese Automotive Industry Association has called for an end to malicious competition through price-cutting and comparison tactics, advocating for a focus on value creation [3] - The Central Financial and Economic Committee has stressed the importance of legally regulating low-price disorderly competition, with new laws prohibiting platforms from forcing merchants to sell below cost [4] - The article suggests that fostering a healthy competitive environment requires companies to innovate and differentiate themselves rather than engage in price wars [3][4]
率先为金融系统“恶性竞争”踩下刹车 广东印发银行业保险业“内卷式”竞争负面清单
Core Viewpoint - Guangdong's financial regulatory authorities are taking a strong stance against "involutionary" competition in the financial sector, aiming to promote healthy industry development and establish a more regulated environment [1][2]. Group 1: Regulatory Actions - Guangdong Financial Regulatory Bureau has issued a negative list for "involutionary" competition in the banking and insurance sectors, guiding industry associations to formulate self-regulatory agreements against unfair competition [1][2]. - A comprehensive action plan is being implemented in Guangdong, which includes a regulatory framework referred to as "1+3+N" to address "involutionary" competition [2]. - The newly released "Self-Regulatory Convention Against Unfair Competition in Guangdong Banking Industry (2025 Edition)" outlines both advocacy and prohibition clauses across eight areas, including rational pricing and strict management of rebates [2][3]. Group 2: Market Conditions - The phenomenon of price wars and customer poaching has been observed in the financial sector, particularly in consumer loans, where rates dropped to as low as 2.58% before regulatory intervention [3]. - As of June, the weighted average interest rate for newly issued corporate loans in Guangdong was 2.79%, a decrease of 41 basis points year-on-year [3]. - The regulatory measures have led to a narrowing of the decline in net interest margins for banks, with a reported 5% reduction in the scale of commissions and fees in the insurance sector compared to the same period in 2024 [3]. Group 3: Industry Response - The banking sector has shown a positive response to the regulatory measures, with institutions like Ping An Bank's Guangzhou branch actively participating in the anti-"involution" campaign [5]. - There is a growing consensus among banks in regions like Jiangsu and Zhejiang to shift focus from price competition to providing comprehensive financial services [5]. - The insurance industry is also expected to develop self-regulatory agreements for specific insurance products, aiming for sustainable industry development [5].
加快推进价格法修订,助力整治“内卷式”竞争
21世纪经济报道· 2025-07-24 14:05
Core Viewpoint - The draft amendment to the Price Law aims to address the changing market dynamics and enhance regulation against unfair pricing behaviors, particularly focusing on "low-price dumping" practices [1][3]. Group 1: Key Aspects of the Draft Amendment - The draft consists of 10 articles, primarily focusing on three areas: improving government pricing regulations, clarifying standards for identifying unfair pricing behaviors, and strengthening legal responsibilities for price violations [1]. - This is the first amendment to the Price Law since its implementation in 1998, reflecting the evolving economic landscape and the need for updated regulatory frameworks [3]. - The amendment expands the definition of "low-price dumping" to include both goods and services, and introduces provisions against coercing other operators to sell below cost [4][5]. Group 2: Focus on Unfair Pricing Behaviors - The revision emphasizes the need to regulate various unfair pricing behaviors, including price manipulation, price gouging, price discrimination, and forced sales, in response to the rise of digital economies [8]. - The amendment aims to provide a clearer legal basis for enforcement against low-price dumping, focusing on the intent to eliminate competition or monopolize the market [5][12]. - The draft also addresses the challenges posed by the digital economy, prohibiting the use of data, algorithms, and technology to engage in unfair pricing practices [8]. Group 3: Industry Response and Regulatory Environment - There is a growing call from businesses for stricter regulations against "involutionary" competition, where companies engage in unsustainable pricing strategies to gain market share [9][10]. - Various government departments are actively working to combat "involutionary" competition, with specific measures being taken in industries like automotive and e-commerce to ensure fair market practices [10]. - The amendment is part of a broader legal framework that includes the Anti-Monopoly Law and the Anti-Unfair Competition Law, aiming for a comprehensive approach to regulate low-price competition and maintain market order [12].
加快推进价格法修订,助力整治“内卷式”竞争
21世纪经济报道记者 周潇枭 北京报道 7月24日,由国家发展改革委、市场监管总局研究起草的《中华 人民共和国价格法修正草案(征求意见稿)》(下文简称修正草案)对外公开征求意见,公开征求意见 时间为2025年7月24日至8月23日。 价格法自1998年正式实施,至今已执行有27年多的时间。这些年来,我国价格工作面临的形势发生明显 变化,当前绝大多数商品和服务价格由市场形成,互联网平台经济等新经济新业态新模式不断涌现,一 些行业低价无序竞争问题凸显,这些都对价格调控监管提出新的要求。 如此一来,修正草案将低价倾销行为适用范围从"商品"扩展到"商品和服务";规范对象除了"经营者"本 身之外,还新增了"强制其他经营者按其定价规则低价倾销"的行为;删除了低价倾销行为造成的后果规 定。 中国社会科学院大学法学院副教授韩伟对21世纪经济报道记者表示,现行价格法对制止低价倾销行为的 规定,其构成要件较为复杂,适用范围仅限于商品,适用情形仅限于经营者自行销售,难以完全适应形 势变化和执法实践需要。修正草案完善了价格法中低价倾销条款,有利于从法治层面规范市场价格秩 序,助力遏制"内卷式"竞争。 韩伟进一步指出,草案优化了低价倾 ...
深观察|反“内卷”!广东银行保险业如何打响第一枪?
Nan Fang Du Shi Bao· 2025-07-24 06:53
Core Viewpoint - The Guangdong financial regulatory authority is taking significant steps to combat "involution" in the banking and insurance sectors, promoting healthy competition through the issuance of negative lists and self-regulatory agreements [2][3][6]. Summary by Sections Regulatory Actions - The Guangdong Financial Regulatory Bureau has clearly opposed "involution" competition and is implementing a negative list for the banking and insurance industries to guide associations in formulating self-regulatory agreements [3][4]. - A total of 125 penalty decisions were made in the first half of the year, affecting 129 institutions and 212 individuals, with 6 individuals banned from the industry [3]. Self-Regulatory Agreements - The "Guangdong Banking Industry Self-Regulatory Agreement" consists of five parts, detailing self-regulatory requirements across eight aspects, including both advocacy and prohibitive measures [4][5]. - The "Guangdong Insurance Industry Self-Regulatory Agreement" addresses issues such as expense management and business norms, explicitly prohibiting practices like excessive rebates and misleading advertising [6][17]. Industry Challenges - The banking sector is facing significant "involution" issues, characterized by price wars, homogeneous services, and unregulated expansion, which are accumulating risks and harming overall industry interests [3][5]. - The insurance industry is also experiencing "involution," primarily through price competition and excessive expense management, leading to a need for regulatory intervention [17][21]. Future Directions - The banking sector plans to implement a "1+3+N" system to comprehensively address "involution," with "1" representing the issuance of a negative list, "3" referring to self-regulatory agreements, and "N" indicating additional self-regulatory measures across various business areas [7][9]. - The focus will be on developing differentiated products and services to break the cycle of "involution," emphasizing quality over quantity in competition [14][15].
观车 · 论势 || 汽车业“反内卷”亟需一场集体觉醒
Core Viewpoint - The automotive industry is experiencing a collective awakening to combat "involutionary" competition, emphasizing the need for collaboration and mutual understanding among companies to strengthen the industry as a whole [1][2][3] Group 1: Industry Challenges - "Involutionary" competition includes not only price wars but also negative practices such as "black public relations," manipulated rankings, and delayed payments to suppliers, which disrupt market order and harm healthy industry development [2][3] - The automotive industry has faced various challenges and opportunities throughout its development, and collaboration has been key to overcoming these hurdles [2][3] Group 2: Call for Collaboration - Industry leaders, including Chery Automobile's chairman, advocate for a unified approach to eliminate "involutionary" competition, suggesting that it should become a collective awareness and choice across the industry [1][2] - BMW's CEO in Greater China highlighted that overcoming "involutionary" competition requires teamwork and collaboration rather than isolated efforts [4] Group 3: Future Directions - The industry must shift from price-driven competition to value-driven competition, focusing on technological innovation, product quality, user experience, and brand culture to create true competitive advantages [3][4] - The transition to international markets necessitates that the Chinese automotive industry resolve internal issues before facing external challenges, ensuring sustainable development [2][3]
参考供给侧改革,通过“成本要素”定价“反内卷”
Tianfeng Securities· 2025-07-23 11:40
Investment Rating - Industry Rating: Neutral (maintained rating) [2] Core Viewpoints - The report emphasizes the need to strengthen industry self-discipline to prevent "involutionary competition," which distorts market price signals and harms industry competitiveness [3][12] - The supply-side reform policies have shown significant effects in the chemical industry, particularly in the re-pricing of cost factors, which is crucial for driving structural changes and enhancing competitiveness [4][5][44] - The report suggests that under the backdrop of "anti-involution," the chemical sector is expected to see a re-pricing of cost factors related to green low-carbon initiatives, energy conservation, and process optimization, similar to the achievements during the supply-side reform period [5] Summary by Sections 1. Involutionary Competition - Involutionary competition differs from fair competition and leads to market price signal distortion, resulting in long-term industry competitiveness decline and consumer rights damage [3][14] - The causes of involutionary competition include the absence of standards in emerging industries, price signal failure, and inappropriate preferential policies [15][16] 2. Supply-Side Reform Review - The supply-side reform was first proposed in November 2015, aiming to enhance the quality and efficiency of the supply system [27][28] - The reform's key tasks include reducing excess capacity, lowering costs, and improving supply structure [35][36] - Significant achievements have been made, including the elimination of over 300 million tons of outdated steel capacity and a notable increase in high-tech product exports [41][42] 3. Re-Pricing of Cost Factors in the Chemical Sector - The 2016 "Guidance on Structural Adjustment and Transformation of the Petrochemical Industry" outlines key goals and tasks for optimizing capacity structure and enhancing innovation capabilities [44][45] - The report highlights the importance of re-pricing cost factors to promote green development and improve the overall competitiveness of the chemical industry [5][44]
新华每日电讯评论:莫让“降本”最终变成“卷死”供应商
news flash· 2025-07-23 03:48
Group 1 - The article emphasizes that competition is the essence of a market economy, but prolonged price wars and homogeneous "involution" competition lead to market disorder [1] - The "involution" consumption battle results in extreme cost-cutting, which ultimately harms suppliers, creating a negative resonance throughout the supply chain [1] - True cost reduction should focus on win-win scenarios, aiming for efficiency improvements and value creation across the entire supply chain [1]
连年亏损的江特电机又筹划易主了
Xin Lang Cai Jing· 2025-07-22 12:15
智通财经记者 | 高菁 自2010年以来,锂电行业经历了两轮较大的价格波动周期。第一轮波动在2015-2019年,碳酸锂价格经 历了从4.2万元/吨低点涨至18万元/吨的高点,再跌至2019年底的4.8万元/吨。期间,碳酸锂峰值价格是 最低点的4倍多。 江特电机(002179.SZ)筹划控制权变更。 7月21日,江特电机公告披露,实际控制人朱军、卢顺民正在筹划公司控制权变更相关事项。目前各方 尚未签署相关正式交易协议,拟就相关事项进行进一步论证和磋商。若此次交易实施并完成,江特电机 的实际控制人可能将发生变更。 受上述事项影响,江特电机股票自7月22日上午开市起停牌,预计停盘时间不超过2个交易日。截至停盘 前一日收盘,江特电机股价报7.74元/股,总市值为132.1亿元。 就筹划控制权变更相关事宜,智通财经通过电话及邮件的方式联系江特电机,截至发稿,未收到回应。 江特电机成立于1995年,总部位于江西省宜春市,业务涵盖锂矿采选及锂盐制造业、电机产业。在锂矿 采选及锂盐制造业板块,其主要从事以碳酸锂为主的锂盐产品研发、生产和销售,该板块去年为江特电 机贡献了49.87%的营业收入。 江特电机并非首次筹划控制权变 ...