港股开盘，恒生指数低开0.11%，恒生科技指数低开0.26%。德林控股高开14%，公司计划代币化资产总 价值最高为5亿港币。绿地香港高开14%，前6个月公司及其子公司及联属公司的合约销售约为29.72亿 元。 ...

General Naming Logic - Stock index futures contracts are typically named based on the underlying index, expiration date, and contract type, with slight variations across different markets [4] - The name or code usually consists of the following components: 1. Underlying index identifier: Specifies the stock index tracked by the contract (e.g., CSI 300, S&P 500, Nikkei 225) 2. Expiration date identifier: Indicates the month and year of expiration 3. Contract type (optional): Some markets differentiate between main contracts and continuous contracts, though this is not usually reflected in official naming [4] Specific Market Cases Mainland China (CFFEX) - The China Financial Futures Exchange (CFFEX) has a typical naming rule structured as "index code + last two digits of the expiration year + expiration month," with specific letter codes to distinguish different indices [5] - Current index codes include: - IF: CSI 300 index futures - IC: CSI 500 index futures - IM: CSI 1000 index futures - For example, IF2406 indicates CSI 300 index futures expiring in June 2024 [6] Contract Month Rules - CFFEX stock index futures contracts are available for the current month, the next month, and the following two quarterly months (March, June, September, December) [7] U.S. Market (CME Group) - U.S. stock index futures, primarily traded on the Chicago Mercantile Exchange (CME), follow a naming convention that emphasizes "index abbreviation + contract type + expiration month code," with month codes represented by letters [8] - For example, E-mini S&P 500 futures are coded as ES, followed by the expiration month code and the last two digits of the year [9] Month Code Rules - CME uses a letter-to-month correspondence system, where: - F = January - G = February - H = March - J = April - K = May - M = June - N = July - Q = August - U = September - V = October - X = November - Z = December [10] Japanese Market (Osaka Exchange) - Japanese stock index futures, primarily based on the Nikkei 225 index, have a naming convention similar to that of the U.S., but the month codes may be simplified [11] - For instance, NKD2412 indicates Nikkei 225 futures expiring in December 2024 [11] Summary - The article provides a comprehensive overview of the naming conventions for stock index futures contracts across different markets, highlighting the common elements and specific rules applicable to each market [12]

Paris, 9 July 2025HALF YEARLY SITUATION OF THE LIQUIDITY CONTRACTIn connection with the liquidity contract signed between Hermès International and BNP Paribas, outstanding means as of the trading date of June 30, 2025, amounted to: . 3,416 shares Hermès International . €17,719,592During the 1st half of the year, total trades were: Buy: 87,824 shares, (3,264 transactions) €216,547,071Sell: 85,073 shares, (3,835 transactions) €210,013,542 As of the previous half yearly situation (as of December 31, 2024) outs ...

Core Insights - The development of digital RMB has accelerated significantly this year, with the recent expansion of the "tap and go" trial in Shanghai's entire metro network, allowing passengers to use various forms of digital RMB wallets for quick access [1][2] - Multiple cities, including Beijing, Guangzhou, and Shanghai, have released development plans for digital RMB trials, enhancing application scenarios and optimizing the ecosystem [1][4] Group 1: Application Expansion - The application scenarios for digital RMB have expanded from retail payments to include government services, public transportation, and financial services, creating a comprehensive and multi-layered application landscape [4] - In the first half of the year, various local governments actively promoted the expansion of digital RMB application scenarios and technological innovation [4][5] - Digital RMB consumption red envelopes have been issued to stimulate consumption and support economic growth [4] Group 2: Cross-Border Payment and Future Prospects - Cross-border payment has emerged as a highlight in the development of digital RMB, with pilot banks participating in the multilateral central bank digital currency bridge project [6] - The digital RMB is expected to become a new channel for global digital trade settlement, reducing cross-border transaction costs and improving settlement efficiency [6][7] - Experts predict that digital RMB will play a larger role in cross-border payments, green finance, and smart economy, contributing to a more efficient and secure digital economic ecosystem [7]

Strasbourg, July 8, 2025 – 06:00 pm CET Under the liquidity contract entrusted by Transgene to Natixis Oddo BHF SCA, as of June 30, 2025, the following resources were managed through the liquidity account: 327 750 shares€ 112,376 In the first half of 2025, it was negotiated a total of: Purchases249,004 shares€ 180,297769 market transactionsSales280,915 shares€ 212,020967 market transactions It is recalled that: as of December 31, 2024, the following resources were managed through the liquidity account: 3 ...

服务贸易领域的8项措施尤为关键——包括优化跨国公司跨境 资金集中运营管理政策等4条推广到其他自贸试验区。8项中， 有6项的责任分工均与中国人民银行及金融监管总局有关。 作者：欧阳晓红 封图：图虫创意 一场对中国金融改革意义深远的吹风会或悄然改写制度型开放"规则"。 7月3日，国务院印发的《关于做好自由贸易试验区全面对接国际高标准经贸规则推进高水平制度 型开放试点措施复制推广工作的通知》（国函〔2025〕68号，下称《通知》），以及次日亮相的 《中国人民银行关于〈人民币跨境支付系统业务规则（征求意见稿）〉》（下称《业务规则（征求 意见稿）》），从贸易便利化到跨境支付清算，从自贸港离岸账户到数字人民币跨境，多维交织出 一幅制度演进的图景。 7月4日，国新办召开政策例行吹风会，聚焦中国（上海）自贸试验区全面对接国际高标准经贸规 则试点成效及复制推广安排。商务部部长助理唐文弘介绍，为用好上海自贸试验区制度型开放试点 经验，在更大范围释放制度创新红利，国务院印发《通知》，将试点成熟、成效显著、风险可控的 77条试点措施向其他自贸试验区或在全国范围内复制推广。 《通知》将其中的34条试 点措施向 其他自贸试验区推广，43 ...

Core Insights - Stablecoins serve as a "dual currency" between decentralized digital currencies and fiat currencies, offering advantages in payment convenience, privacy protection, and value stability, thus becoming a low-cost, high-efficiency payment tool [1] - The recent regulatory policies in the US and Hong Kong have initiated a new "currency war," positioning the stablecoin market as a critical battleground for maintaining US dollar hegemony and promoting the internationalization of the Chinese yuan [1] Group 1: Definition and Mechanism of Stablecoins - Stablecoins are special digital currencies issued by stablecoin developers, large e-commerce companies, and licensed financial institutions, combining the advantages of digital currencies and fiat currencies [2] - The core technology of stablecoins is based on decentralized distributed ledger technology within blockchain systems, enabling direct payment transactions without traditional banking intermediaries [2] Group 2: Types and Issuance Mechanisms of Stablecoins - The main issuance mechanisms for stablecoins include fiat currency collateralized issuance, cryptocurrency collateralized issuance, high liquidity commodity collateralized issuance, and algorithmic uncollateralized issuance, with fiat and cryptocurrency collateralized issuance accounting for over 99.8% of the market [3][4] - Fiat currency collateralized stablecoins are pegged to a single currency or a basket of fiat currencies, while cryptocurrency collateralized stablecoins use cryptocurrencies as collateral, often employing over-collateralization to mitigate market risks [3][4] Group 3: Market Value and Growth of Stablecoins - Since 2020, the stablecoin market has grown from 5 billion to 250 billion USD, with an annual growth rate exceeding 100%, and transaction volumes approaching 37 trillion USD [7] Group 4: Regulatory Landscape and Market Analysis - The regulatory frameworks in China, Hong Kong, and the US differ significantly, with China prioritizing financial sovereignty, Hong Kong focusing on market development, and the US emphasizing the control of underlying technologies to maintain dollar dominance [11][8] - The US stablecoin market is dominated by USDT and USDC, which together account for over 80% of the market share [10] Group 5: Recent Regulatory Developments - The US Senate passed the "GENIUS Act" on May 19, 2025, establishing a federal regulatory framework for stablecoins, requiring issuers to obtain licenses and maintain a 1:1 collateralization ratio with high liquidity assets [14][15] - Hong Kong's "Stablecoin Ordinance," effective August 1, 2025, introduces a licensing regime for stablecoin issuers, ensuring 100% reserve requirements and enhancing market transparency [16][17] Group 6: Applications in Cross-Border Payments and E-commerce - Stablecoins are positioned as a solution to the inefficiencies of traditional cross-border payment systems, significantly reducing costs and transaction times [32] - Major e-commerce giants like JD.com and Ant Group are exploring the issuance of their own stablecoins to enhance financial capabilities and streamline cross-border transactions [35]

Group 1 - The total contract sales amount of the company is approximately RMB 250,549,896 as of June 2025 [1] - The total contracted construction area of the company is approximately 27,636 square meters [1] - The average contract price per square meter is approximately RMB 9,066 [1]

聚烯烃产业周度报告： 暂时缺乏利好驱动，塑料略优于PP，关 注塑料-PP价差震荡上行机会 CO NTENTS 目 录 01 观点小结 02 下周关注 04 聚丙烯重点数据追踪 03 聚乙烯重点数据追踪 05 价差跟踪 01 观点策略 观点小结 | 项目 | 聚乙烯PE | | --- | --- | | 成本 | 地缘政治溢价暂时离场。欧佩克+八个成员国决定在八月份增产54.8万桶/日，高于市场预期，增产给予油价压力延续，最新一周EIA美国原油 | | | 库存录得超预期累库。需求上，美国传统燃油消费旺季有带动终端需求增长预期，但目前估算的成品油裂解价差表现尚未有起色，美国成品 | | | 油库存录得超预期大幅增加，加上美国对等关税暂停期即将结束，全球关税贸易风波对需求仍有隐忧。整体来看，利空因素较多，原油价格 | | | 或拐头下滑，对塑料等化工品支撑不足。（▼） | | 供应 | 虽然当前产量仍处于近年高位水平，周度产能利用率和产量环比增加。不过前期检修装置重启预期不大且有装置检修，对价格有支撑。（▲） | | 需求 | PE下游开工整体小跌且仍低于往年同期，需求淡季氛围延续，终端消费维持随用随采，下游订 ...

传统中心化架构在应对数据泄露、身份冒用、供应链欺诈等挑战时显得力不从心。区块链技术凭借其去中心化、不可篡改、透 明可追溯的特性，正在成为网络安全领域的 "破局者"。本文结合 2025 年最新技术动态与行业实践，深入探讨区块链在网络安全 中的实际应用场景、技术创新及未来趋势。 一、核心应用场景：构建多维安全防护体系 1. 去中心化身份管理与零信任模型 区块链的去中心化特性为身份管理带来革命性变革。传统集中式系统中，一次数据泄露可能导致数百万用户信息暴露（如 2021 年 Meta 数据泄露事件），而区块链的自我主权身份（SSI）技术允许用户完全掌控个人信息，通过智能合约实现 "按需授权"。 例如，南京市民政局在养老服务 "时间银行" APP 中，利用区块链加密技术构建安全可信的志愿者身份认证体系，确保服务记录 不可篡改，并与公安、发改等部门数据实时比对，防范身份冒用风险。 零信任安全模型（"永不信任，始终验证"）与区块链天然契合。通过区块链记录用户行为轨迹，结合 AI 分析异常访问模式，某 政务大厅引入 "区块链 + 人脸识别" 系统后，身份冒用事件同比下降 85%，同时业务处理效率提升 40%。这种细粒度的访 ...