Core Viewpoint - The A-share market is experiencing a decline, with major indices such as the Shanghai Composite Index and Shenzhen Component Index showing negative performance, indicating a bearish sentiment in the market [1][2]. Market Performance - As of the midday session, the Shanghai Composite Index is at 3359.78 points, down 0.86%, while the Shenzhen Component Index is at 10072.42 points, down 1.01%, and the ChiNext Index is at 2032.19 points, down 1.1% [1][2]. - A total of 4654 stocks declined, while only 713 stocks rose, reflecting a broad market downturn [1][2]. Sector Analysis - Various sectors are showing mixed performance, with themes like stablecoins, controlled nuclear fusion, military industry, and new consumption experiencing pullbacks, while solid-state batteries and humanoid robots are performing well [2][3]. - The oil and gas extraction and service sector increased by 0.52%, while controlled nuclear fusion decreased by 4.11% [3]. Institutional Insights - According to CITIC Securities, the Shanghai Composite Index is facing resistance around the 3400-point mark, with a need for increased trading volume to boost market sentiment [4]. - Financial analysts from Caitong Securities suggest that the 3400-point level is a significant trading zone, and the market's inability to break through this level has created a psychological barrier among investors [5]. - There is an expectation for policy-driven breakthroughs, with a recommendation to focus on structural opportunities in sectors like AI applications and semiconductors [5].

Group 1 - The first "immediate buy and refund" tax refund point for outbound tourists has been officially launched at Dongmen Suning Department Store, enhancing the shopping experience for international travelers [1][3] - The new tax refund service allows travelers to process refunds on-site after shopping, significantly reducing the time required for refund procedures to just a few minutes [1] - Currently, there are 66 merchants in Dongmen Suning Department Store participating in the immediate tax refund program, covering luxury watches, fashion apparel, and skincare products [1] Group 2 - The Luo Hu District is leveraging its advantageous position as a commercial and consumption hub to develop a robust outbound tax refund shopping network [2] - The district is enhancing traveler services by introducing multiple shuttle bus routes and plans for autonomous bus lines to improve access to major shopping areas [2] - Digital upgrades are being implemented to enrich electronic refund channels, aiming to provide a better shopping experience for travelers [2]

首个成为覆盖"海陆空"全类型口岸的城市、首推离境退税"一单一包"便利化试点、首次在国家级展会现 场设置离境退税专区……自2023年12月深圳实施离境退税"即买即退"政策以来，深圳市税务局持续深化 政策落实，推动离境退税商店扩围，丰富退税商品供给，提升服务便利化水平，会同相关部门研究增设 离境退税口岸。截至6月10日，全市离境退税商品销售额同比增长2.45倍，"即买即退"销售额同比增长 超22倍。 提档扩围 提质增效 "点燃"入境消费新活力 "第一次来文博会，没想到还能买到退税商品，不仅有优惠，还能现场领到退税款，很便捷，很划 算。"在第二十一届中国（深圳）国际文化产业博览会上，来自中国香港的赵资扬通过"深圳离境退税专 区"购买了一部价格为8599元的华为手机，当场通过"即买即退"服务收到773.91元的退税款，给他带来 了极佳的入境消费体验。 据税务部门介绍，为最大化便利离境退税，深圳将发挥科技之都优势，通过"数智赋能"进一步提升入境 消费体验：上线自助退税小程序，使境外旅客可自助上传退税单据，线上即时校验审核；不断丰富境外 旅客电子退付渠道，持续升级推广"一单一包"快验模式，升级"智能验核"，便利旅客"无感 ...

离境退税"即买即退"与"一单一包"的便利化模式，正悄然重塑境外旅客在深圳的跨境消费体验。 "一单 一包"措施更是深圳推出的独创性解决方案，并在商务部全国离境退税工作推进会上被作为经验分享。 购物当场退税约9%，海关验核5分钟通关，再加上深圳退税商店布局的优化、打造出的便捷支付和以优 质电子产品为代表的"深圳制造"的吸引力，深圳入境消费迎来大幅增长，外国人在华强北疯狂"扫货"现 象还曾登上央视。 数据显示，今年一季度，深圳退税业务办理2945笔，商品销售额1.83亿元，同比分别增长3.7倍、1.5 倍。1.83亿元，对已迈入万亿规模的深圳消费来说，似乎并不起眼。正所谓"有苗不愁长"，入境消费的 潜力不可限量，完全可以做成一门"大生意"。 近年来，中国不断有序扩大自主开放和单边开放，对38个国家实行了单方面免签政策，对54个国家实行 过境免签并将停留时间延长至240小时，可以说免签扩容正在与"即买即退"形成完美的消费闭环。 首先是深圳离境退税业务不断迅猛增长。据深圳海关透露，端午假期，深圳离境退税达394票，退税货 值达943.8万元，同比增长5.2倍；其中6月1日达178票，创单日新高。2024年，深圳退税业务 ...

Core Insights - Shenzhen is enhancing its inbound consumption market through innovative practices in the implementation of the departure tax refund policy, which includes comprehensive coverage and convenient "buy and refund" services [1][2] Group 1: Policy and Implementation - The central government has prioritized boosting consumption and expanding domestic demand as a key task for 2025, with specific actions outlined to develop inbound consumption [2] - Shenzhen has been a pioneer in implementing the departure tax refund policy since April 2016 and has become one of the first cities to offer "buy and refund" services [2][3] - As of June 10, 2025, the sales of departure tax refund goods in Shenzhen have increased by 2.45 times year-on-year, with "buy and refund" sales surging over 22 times [1] Group 2: Infrastructure and Services - Shenzhen currently has 510 departure tax refund stores and plans to significantly increase this number by incorporating key transportation hubs and popular tourist attractions [3] - The city has established 6 centralized refund points and aims to add 5 more by the end of June 2025 to enhance the "buy and refund" service [3] Group 3: Product Offering and Technology - Shenzhen is focusing on increasing the technological content of departure tax refund products, promoting high-tech items like Huawei smartphones and DJI drones, while also expanding the range of domestic products available [4] - The city has implemented a self-service tax refund app for travelers to upload documents and receive instant verification, along with multi-language support for better accessibility [4]

在国家大力提振消费、扩大内需的政策背景下，深圳作为离境退税全国首批实施城市，正以海陆空全口岸覆盖、"即买即退"便利化服务等创新实践，为入 境消费市场注入强劲活力。 记者深圳市税务局了解到，从离境退税新政实施以来，深圳从购物开单、申报退税、退税款支付、宣传等全流程入手，完善离境退税管理系统，提高商店开单效 率，缩短旅客等待时间，着力提升退税便利度。 数据显示，截至2025年6月10日，深圳离境退税商品销售额同比增长2.45倍，"即买即退"销售额同比增长超22倍，成为全国离境退税政策落地的标杆城市。 全市已有510家离境退税商店和6个集中退付点 中央经济工作会议将"大力提振消费、全方位扩大国内需求"列为2025年首项重点任务，随后国务院常务会议提出"持续打造消费新产品新场景新热点"，中共中央办 公厅、国务院办公厅印发的《提振消费专项行动方案》明确"发展入境消费"方向。2025年4月27日，商务部等6部门联合下发通知，从"推动离境退税商店增量扩 容""丰富离境退税商品供给"和"提升离境退税服务水平"等三方面更好满足境外旅客购物离境退税需求。 "第一次来文博会，没想到还能买到退税商品，不仅有优惠，还能现场领到退税款， ...

Group 1 - The introduction of the "immediate refund" tax refund policy in Shenzhen enhances the international influence of major shopping districts and boosts consumer spending [1] - The first "immediate refund" tax refund point was inaugurated in the Dongmen pedestrian street, a historically significant and densely populated area in Shenzhen [1] - The sales of tax refund eligible goods in Shenzhen increased by over 2.1 times year-on-year in the first five months of this year, with "immediate refund" goods sales growing over 20 times [1] Group 2 - Shenzhen has been implementing the tax refund policy since 2016 and introduced the "immediate refund" measure in 2023, becoming the only city in China with all types of tax refund ports (land, sea, and air) by 2024 [2] - The "one order, one package" model introduced by Shenzhen optimizes the tax refund process, reducing customs verification time from an average of 10 minutes to 5 minutes [2] - The number of outbound and inbound travelers in Shenzhen surpassed 100 million by May 19, 2025, with foreign travelers reaching 2.64 million, a 41% increase year-on-year [3]

1、创新药临床试验审评审批提速，一类创新药等纳入30日通道 重要程度：★★★★★ 6月16日盘后，国家药品监督管理局发布《关于优化创新药临床试验审评审批有关事项的公告(征求意见稿)》。其中 提到，为进一步支持以临床价值为导向的创新药研发，提高临床研发质效，对符合要求的创新药临床试验申请在30 个工作日内完成审评审批。 近期，创新药的热度很高。那么，创新药的行情还能持续多久?中邮证券认为，创新药即使短期震荡亦属正常，仍坚 定看好2年—3年维度的创新药行情。首先是出海，较多优质项目BD虽已有一定市场预期，但仍存在落地超预期的可 能，且海外估值并未泡沫化，出海也已形成正向循环，未来全球看国内创新药比例仍有提升空间。其次是资金层 面，目前宽基对创新药板块的配置远未见顶，且外资对港股创新药的配置也有提升空间。 2、财政部：自2025年7月1日起 大连市、湖北省实施境外旅客购物离境退税政策 重要程度：★★★★ 据财政部网站消息，自2025年7月1日起，大连市、湖北省实施境外旅客购物离境退税政策。 离境退税，是指境外旅客在离境口岸离境时，对其在退税商店购买的退税物品退还增值税。在退税商店，境外旅客 与境内普通市民一样购买商 ...

目前，广东离境退税口岸包括广州白云国际机场口岸、南沙港客运口岸、珠海九洲港客运口岸、深圳宝 安国际机场口岸、蛇口邮轮母港口岸、文锦渡口岸。7月起，深圳罗湖、福田、深圳湾口岸退税点也会 陆续开启。 此前，国家税务总局已于4月初发布的《关于推广境外旅客购物离境退税"即买即退"服务措施的公告》 中指出，境外旅客在"即买即退"商店购买退税物品，办理信用卡预授权后，即可在现场领取等额退税 款；有意愿提供"即买即退"服务的退税商店，在与本地退税代理机构商谈一致后，即可成为"即买即 退"商店。在该背景下，指南展示了离境退税措施在广东省的具体落地情况，凸显了离境退税"一站式服 务"的便捷。 根据指南，单笔消费满人民币200元即可退税。退税率一般为11%，扣除2%办理退税手续费后，实际到 账约9%，全年不限次数，电子发票发挥同等效力。游客可以当场拿到并点清退税现金，部分商场也支 持电子退税。 据6月13日消息，广东省文化和旅游厅发布了入境游"即买即退"购物指南（下称"指南"），对离境退税 作出了详细操作指引，进一步激活入境旅游消费活力。离境退税，是指境外旅客（在中国境内连续居住 不超过183天的外国人和港澳台同胞）在离境口岸离 ...

Core Viewpoint - The "Huaqiangbei Business District" is leveraging the outbound tax refund policy to enhance its international competitiveness and attract foreign tourists, with 20 tax refund stores currently operational in the area, accounting for nearly a quarter of the stores in the Futian District [1][2]. Group 1: Outbound Tax Refund Policy - The outbound tax refund policy is seen as a crucial engine for enhancing the international capability of the business district, attracting foreign consumer spending, and promoting the upgrade of consumption quality [1]. - The Huaqiangbei Business District has a natural advantage for developing outbound tax refund services due to its status as a globally recognized electronic industry hub, strong commercial foundation, and rich brand resources [1]. Group 2: Business District Features - Huaqiangbei is recognized as the first 5G street in the country, a national innovation and entrepreneurship base, and a 3A-level scenic area in Shenzhen's Futian District, with peak daily foot traffic exceeding one million [2]. - The area has seen an average daily foreign visitor flow of over 8,000 people, and it has optimized payment experiences for foreign customers by implementing a service standard of "large card payments, small QR code payments, and cash as a backup" [2]. Group 3: Expansion of Tax Refund Stores - The outbound tax refund initiative is rapidly being implemented, with 20 tax refund stores already established, creating an initial clustering effect [2]. - Shenzhen has been expanding its outbound tax refund stores, with over 400 stores listed in nine batches, and sales of tax refund goods from January to May this year have increased by over 2.1 times year-on-year [2]. - The tenth batch of outbound tax refund store selection is currently underway, with an expected addition of over 100 new stores [3].