李强强调，面对新的形势和任务，尤其需要树立和践行正确政绩观，要坚持从实际出发、按规律办事， 自觉为人民出政绩、以实干出政绩。春节假期将至，要重视抓好安全生产、春运保障、欠薪欠款治理、 保供稳价等工作，确保群众过一个安全、幸福、祥和的节日。 （原标题：李强主持召开国务院第十次全体会议?讨论政府工作报告稿和"十五五"规划纲要草案稿） 国务院总理李强2月6日主持召开国务院第十次全体会议，讨论拟提请十四届全国人大四次会议审议的政 府工作报告稿和"十五五"规划纲要草案稿。 李强指出，今年是"十五五"开局之年，形成高质量的政府工作报告和规划纲要，对于凝聚共识、提振信 心、推动发展具有重要作用。要深入贯彻习近平总书记重要指示精神和党中央决策部署，准确把握今年 和未来五年的国内外形势，把发展所需和群众所盼结合起来，充分体现高质量发展要求，切实回应社会 关切，进一步把两个文件稿修改好。 李强指出，要落实好中央经济工作会议部署的各项工作，勇于攻坚克难，确保"十五五"开好局、起好 步。宏观政策要靠前发力，财政资金尽可能提前安排，加强资金下达和项目建设的协同配合，使政策尽 快落地见效。各项重点工作要抓紧推进，条件成熟的及早组织实施。 ...

21社论丨构建核心竞争力，促进汽车业高质量增长 21社论丨构建放心生态，提振消费信心 21君荐读 其次，促进有效投资，需要依托重大工程和重大项目。会议划定的基础设施、城市更新、公共 服务、新兴产业和未来产业五大重点领域，体现出"锻长板"与"补短板"的有机结合，投资于物 和投资于人的互促共进。基础设施领域不再是简单的规模扩张，而是着眼于传统基建智能化改 造与新型基建协同推进；城市更新与公共服务领域的投资，紧扣民生需求，既完善城市功能、 补齐民生短板，又通过教育、医疗、养老等公共服务设施的升级，为人力资本积累创造良好条 件；新兴产业和未来产业的重点布局，更是让物质资本精准对接科技创新，为高端制造、数字 经济、绿色低碳等领域发展提供硬件支撑，推动产业结构向高端化、智能化、绿色化转型。 最后，促进有效投资，需要各类市场主体形成合力。央国企在重大项目、战略领域的投资中具 有独特优势。2025年中央企业战略性新兴产业投资占比超四成，成为物质资本投入的主力军， 未来更可依托技术、资金优势，在重大工程、核心领域发挥引领作用。民间投资是市场活力的 重要体现。此前国务院已部署出台了民间投资专项担保计划、贷款贴息等政策，央行专门设 ...

最后，促进有效投资，需要各类市场主体形成合力。央国企在重大项目、战略领域的投资中具有独特优 势。2025年中央企业战略性新兴产业投资占比超四成，成为物质资本投入的主力军，未来更可依托技 术、资金优势，在重大工程、核心领域发挥引领作用。民间投资是市场活力的重要体现。此前国务院已 部署出台了民间投资专项担保计划、贷款贴息等政策，央行专门设置了总额为1万亿元的民营企业再贷 款，目的都是进一步降低企业融资门槛和成本。各类投资主体协同发力，将为提高投资效益奠定市场基 础。 此次会议当日，国务院还召开了第十次全体会议，提出宏观政策要靠前发力，财政资金尽可能提前安 排，加强资金下达和项目建设的协同配合，使政策尽快落地见效。会议还提出，深入谋划实施一批重大 举措、重大项目，特别是要在发展新质生产力、做强国内大循环、促进居民增收等方面取得更大突破。 可见，"十五五"开局之年国家对投资的时效性也有了更高要求。 总体而言，此次国常会遵循中央经济工作会议"坚持投资于物和投资于人紧密结合"的导向，从资金、项 目、主体和时机等方面进行了综合部署。随着各项政策措施落地实施，中央与地方协同、国企与民企联 动、政府与市场发力的投资格局将加速形 ...

Group 1 - The State Council's recent meeting emphasizes the need to innovate and improve policy measures to promote effective investment, focusing on utilizing central budget investments, ultra-long-term special bonds, local government special bonds, and new policy financial tools [1][2] - The National Bureau of Statistics indicates a projected 3.8% year-on-year decline in national fixed asset investment by 2025, with traditional sectors like infrastructure and real estate seeing reduced investment, while high-tech manufacturing and services are experiencing growth [1][2] - The meeting's deployment aims to stabilize investment and enhance quality and efficiency in the long term, utilizing a combination of policy tools to create a new rhythm for investment stability [1][5] Group 2 - Effective investment requires ensuring ample funding, with a focus on a collaborative investment funding guarantee system involving national guidance, market participation, and cooperation between central and local governments [2][4] - The meeting identifies five key areas for investment: infrastructure, urban renewal, public services, emerging industries, and future industries, promoting a balance between strengthening existing capabilities and addressing shortcomings [3][4] - Various market entities must work together, with central enterprises expected to lead in strategic emerging industries, while policies are in place to support private investment, thereby lowering financing barriers and costs [4][5] Group 3 - The meeting highlights the importance of timely macroeconomic policies and the need for early arrangement of fiscal funds to ensure effective project implementation [4][5] - The comprehensive deployment from the meeting aligns with the central economic work conference's directive to combine investments in physical and human capital, aiming for a more efficient accumulation of material capital and systematic cultivation of human capital [5]

数据来源第三方，观点仅供参考。市场有风险，投资需谨慎！ 研究员：蔡跃辉 期货从业资格号: F0251444 期货投资咨询从业证书号: Z0013101 助理研究员: 陈星宇 期货从业资格号: F03146061 免责声明 本报告中的信息均来源于公开可获得资料，瑞达期货股份有限公司力求准确可靠，但对这些信息的准确性及完整性不做任何保证，据此投资，责任自负。本 以任何形式翻版、复制和发布。如引用、刊发，需注明出处为瑞 达 研 究瑞达期货股份有限公司研究院，且不得对本报告进行有悖原意的引用、删节和修改 。 焦煤焦炭产业日报 2026/2/9 | 项目类别 | 数据指标 最新 | 最新 | 环比 数据指标 | | 环比 | | --- | --- | --- | --- | --- | --- | | | JM主力合约收盘价（日，元/吨） | 1147.00 | +8.50↑ J主力合约收盘价（日，元/吨） | 1703.50 | +5.00↑ | | 期货市场 | JM期货合约持仓量（日，手） | 628953.00 | -6740.00↓ J期货合约持仓量（日，手） | 37611.00 | +54.00↑ | ...

| 项目类别 | 数据指标 | 最新 | 环比 数据指标 | 最新 | 环比 | | --- | --- | --- | --- | --- | --- | | 期货市场 | 沪锌主力合约收盘价(日,元/吨) | 24540 | 90 03-04月合约价差:沪锌(日,元/吨) | -25 | 15 | | | LME三个月锌报价(日,美元/吨) | 3383 | 84.5 沪锌总持仓量(日,手) | 194027 | 3475 | | | 沪锌前20名净持仓(日,手) | 444 | -1103 沪锌仓单(日,吨) | 0 | 0 | | | 上期所库存(周,吨) | 70689 | 5535 LME库存(日,吨) | 107600 | -200 | | 现货市场 | 上海有色网0#锌现货价(日,元/吨) | 24660 | 110 长江有色市场1#锌现货价(日,元/吨) | 24690 | 570 | | | ZN主力合约基差(日,元/吨) | 120 | 20 LME锌升贴水(0-3)(日,美元/吨) | -21.56 | -0.81 | | | 昆明50%锌精矿到厂价(日,元/吨) | 21400 | ...

1. Report Industry Investment Rating - Not provided in the given content 2. Core View of the Report - The report predicts that Shanghai tin will experience a short - term recovery, and investors should pay attention to the 400,000 - yuan mark [3] 3. Summary by Relevant Catalogs Futures Market - The closing price of the main futures contract of Shanghai tin is 384,180 yuan/ton, with a month - on - month increase of 27,180 yuan/ton; the closing price of the March - April contract of Shanghai tin is 160 yuan/ton, with a month - on - month increase of 100 yuan/ton [3] - The price of LME 3 - month tin is 47,155 US dollars/ton, with a month - on - month increase of 165 US dollars/ton; the position of the main contract of Shanghai tin is 33,625 lots, with a month - on - month increase of 1,447 lots [3] - The net position of the top 20 futures of Shanghai tin is - 5,523 lots, with a month - on - month increase of 1,132 lots; the total inventory of LME tin is 7,085 tons, with a month - on - month decrease of 45 tons [3] - The inventory of tin in the Shanghai Futures Exchange is 8,750 tons, with a month - on - month decrease of 1,718 tons; the cancelled warrants of LME tin is 315 tons, with a month - on - month decrease of 20 tons [3] - The warrants of tin in the Shanghai Futures Exchange is 6,337 tons, with a month - on - month decrease of 379 tons [3] Spot Market - The spot price of SMM 1 tin is 373,500 yuan/ton, with a month - on - month increase of 17,200 yuan/ton; the spot price of 1 tin in the Yangtze River Non - ferrous Metal Market is 372,830 yuan/ton, with a month - on - month increase of 16,170 yuan/ton [3] - The basis of the main contract of Shanghai tin is - 700 yuan/ton, with a month - on - month decrease of 13,660 yuan/ton; the LME tin premium (0 - 3) is - 157 US dollars/ton, with a month - on - month decrease of 2 US dollars/ton [3] Upstream Situation - The import volume of tin ore and concentrates is 17,600 tons, with a month - on - month increase of 2,500 tons; the average price of 40% tin concentrates is 359,500 yuan/ton, with a month - on - month increase of 17,200 yuan/ton [3] - The processing fee of 40% tin concentrates by Antaike is 14,500 yuan/ton, with no month - on - month change; the average price of 60% tin concentrates is 363,500 yuan/ton, with a month - on - month increase of 17,200 yuan/ton [3] - The processing fee of 60% tin concentrates by Antaike is 10,500 yuan/ton, with no month - on - month change [3] Industry Situation - The monthly output of refined tin is 14,000 tons, with a month - on - month decrease of 1,600 tons; the import volume of refined tin is 2,239.1 tons, with a month - on - month increase of 323.25 tons [3] Downstream Situation - The price of 60A solder bar in Gejiu is 237,320 yuan/ton, with a month - on - month increase of 10,630 yuan/ton; the cumulative output of tin - plated sheets (strips) is 1,528,700 tons, with a month - on - month increase of 138,700 tons [3] - The export volume of tin - plated sheets is 142,900 tons, with a month - on - month decrease of 45,000 tons [3] Industry News - Federal Reserve Vice Chairman Jefferson is "cautiously optimistic" about the US economic outlook, suggesting that strong productivity growth may help inflation fall to the central bank's 2% target [3] - The State Council executive meeting studied measures to promote effective investment, requiring innovation and improvement of policy measures to make better use of central budgetary investment, ultra - long - term special treasury bonds, local government special bonds and other funds and new policy - based financial instruments [3] - The preliminary value of the University of Michigan Consumer Confidence Index in the US in February was 57.3, reaching the highest level in six months. At the same time, the one - year inflation expectation dropped to 3.5%, the lowest level in a year [3] Fundamental Analysis - Supply side: The resumption of production in Myanmar and the end of the rainy season have led to an increase in domestic tin ore imports, which is expected to continue to increase in the first quarter. Recently, tin ore processing fees have increased slightly, indicating a relief of the tight supply of tin ore [3] - Smelting end: Most enterprises currently have low raw material inventories and are in a loss - making situation. Coupled with more year - end maintenance, the output of refined tin continues to be restricted, but there is pressure for output to recover after the Spring Festival [3] - Import: The export volume of tin from Indonesia has increased, the import window has gradually opened, and the import pressure has increased [3] - Demand side: The development prospects of the AI field are strong, which will drive a significant increase in solder demand. Recently, tin prices have fallen, the downstream procurement atmosphere has warmed up, inventories have decreased significantly, and the spot premium has risen to 1,750 yuan/ton; LME inventories have remained stable, and the spot premium has risen [3] Technical Analysis - The increase in positions and the rise in prices indicate that market sentiment has recovered [3]

Group 1: Macro Background and Chemical Industry - The chemical industry is experiencing sustained improvement, with a focus on oil price variables. The IMF projects global economic growth of 3.3% and 3.2% for 2026 and 2027, respectively, an increase of 0.2 percentage points from previous forecasts [7][5] - The ACC's global chemical production index remained flat in December, with a slight increase of 0.3% in the Asia-Pacific region, while North America and Europe saw declines of 0.8% [7] - Since 2022, the number of chemical plant closures in Europe has surged sixfold, with a cumulative capacity loss of 37 million tons, representing about 9% of Europe's capacity. The petrochemical sector faces significant risks due to a lack of energy cost competitiveness [7][5] Group 2: Pre-prepared Food Industry - The National Health Commission released a draft national standard for pre-prepared food, defining its scope, shelf life, nutritional quality, packaging, and additive use, marking a significant milestone for industry standardization [10][11] - The standard prohibits the use of preservatives and aims to minimize food additives, with a maximum shelf life of 12 months for products [11] - The introduction of these standards is expected to enhance consumer trust and promote the growth of the pre-prepared food sector, particularly benefiting leading companies with strong production and supply chain management capabilities [13][12] Group 3: Financial Market Overview - The A-share market showed mixed performance, with the Shanghai Composite Index closing down 0.25% at 4065 points, while the Shenzhen Component Index and ChiNext Index also declined [21][22] - The consumer sector outperformed other styles, with an average daily trading volume of 23.88 billion yuan, down from 30.365 billion yuan previously [6] - The energy sector, particularly oil and gas extraction, saw a notable increase of 4.28%, while sectors like tourism and retail experienced declines [23][25]

Core Points - The State Council, led by Premier Li Qiang, held its tenth plenary meeting to discuss the government work report and the draft outline of the "14th Five-Year Plan" [3][4] - Emphasis was placed on the importance of high-quality government work reports and planning outlines for building consensus, boosting confidence, and promoting development [3][4] Group 1: Government Work Report and Planning - The year marks the beginning of the "14th Five-Year Plan," and it is crucial to create a high-quality government work report and planning outline [3] - The meeting aims to align the development needs with public expectations, reflecting high-quality development requirements and addressing social concerns [4] Group 2: Economic Policies and Implementation - The meeting highlighted the need to implement the central economic work conference's directives, ensuring a strong start for the "14th Five-Year Plan" [4] - Macro policies should be proactive, with fiscal funds arranged in advance to enhance project construction and policy effectiveness [4] - Key tasks must be expedited, with early organization of projects that are ready, focusing on policy support and reform innovation to stimulate market vitality and explore new growth points [4] Group 3: Long-term Development Goals - There is a call for a combination of short-term and long-term strategies to promote high-quality development, ensuring that medium- and long-term goals are integrated into annual work plans [4] - The focus should be on overall planning and key breakthroughs, particularly in developing new productive forces, strengthening domestic circulation, and increasing residents' income [4] Group 4: Social Stability and Safety - The meeting underscored the importance of establishing a correct view of achievements, emphasizing practical results for the people through diligent work [5] - Attention was drawn to safety production, transportation guarantees, wage arrears resolution, and price stability to ensure a safe and harmonious holiday for the public [5]

Market Overview - The A-share market showed a decline on February 6, with the Shanghai Composite Index down 0.25% to 4,065.58 points, the Shenzhen Component Index down 0.33% to 13,906.73 points, and the ChiNext Index down 0.73% to 3,236.46 points [11] - In the Asia-Pacific market, the Hang Seng Index fell 1.21% to 26,559.95 points, while the Nikkei 225 rose 0.81% to 54,253.68 points [11] - The US stock market saw all three major indices rise, with the Dow Jones up 2.47% to 50,115.67 points, marking a new closing high above 50,000 points [11] International News - The US has initiated a new round of sanctions against Iran, imposing additional tariffs on goods from countries trading with Iran, which has led to rising oil prices following US-Iran talks [9] - France's exports to the US have significantly declined, with a 13% year-on-year drop in the fourth quarter of 2025, particularly in sectors like spirits and wine [10] Domestic News - The Chinese government has issued regulatory guidelines for the issuance of overseas asset-backed securities tokens, aiming to mitigate risks associated with virtual currency trading [12] - Premier Li Qiang emphasized the importance of strengthening domestic circulation and planning for high-quality development in various sectors during a State Council meeting [13] Important Announcements - Meituan plans to acquire 100% of Dingdong Maicai's China business for approximately $717 million, which has positively impacted Dingdong's stock price [14] - Innovent Biologics has entered a global strategic partnership with Eli Lilly to advance new drug development in oncology and immunology [15] - Suning Holdings' controlling shareholder will change to Anhui State-owned Assets Supervision and Administration Commission following a restructuring agreement [15]