Group 1 - Xiaomi has launched its self-developed 3nm mobile SoC chip, marking the first 3nm chip designed in mainland China and making Xiaomi the fourth global company to release such a chip after Apple, Qualcomm, and MediaTek [1] - The People's Bank of China emphasizes the importance of financial support for technology innovation, consumption, small and micro enterprises, and stabilizing foreign trade as key areas for future financial focus [1][2] - The central bank is working on improving the financial system to better support technology innovation, which is crucial for high-quality economic development and structural reform [2] Group 2 - The central bank's recent report indicates a shift towards domestic demand-driven growth, highlighting the critical role of consumption in driving national economic growth [3] - Financial institutions are encouraged to innovate consumer credit products and enhance the consumption payment environment to support consumption growth [3] - The government is committed to maintaining stable foreign trade amidst global economic uncertainties, with a focus on high-level opening up and international cooperation [4] Group 3 - Financial institutions are urged to improve service quality in cross-border transactions and risk management for foreign trade enterprises [4] - There is a push for diversified support for foreign trade development, including enhancing cooperation with countries involved in the Belt and Road Initiative [4] - The integration of domestic and foreign trade is a priority, with an emphasis on innovative cross-border financial services to reduce costs for enterprises [4]

Core Viewpoint - China's foreign trade showed a positive trend in the first four months of the year, with a total import and export value of 14.14 trillion yuan, reflecting a year-on-year growth rate of 2.4%, which is an acceleration from the first quarter [1] Group 1: Trade Performance - In April, the total import and export value, export value, and import value all achieved positive year-on-year growth [1] - The export of high-tech products increased by 7.4% in the first four months, accounting for nearly 20% of total exports, contributing 1.3 percentage points to overall export growth [2] - Exports of ships and marine engineering equipment, industrial robots, and wind power generator sets grew by 16.4%, 58.3%, and 45.5% respectively [2] Group 2: Trade Relationships - Trade with neighboring countries increased by 5.1% year-on-year in the first four months, with growth rates accelerating by 1.6 percentage points compared to the first quarter [2] - Trade with ASEAN, China's largest trading partner, and the five Central Asian countries grew by 9.2% and 9.9% respectively [2] Group 3: Private Sector Contribution - The number of private enterprises engaged in import and export activities reached 492,000, an increase of 8.2% year-on-year, accounting for nearly 90% of all enterprises with import and export performance [2] - These private enterprises contributed to a 6.8% growth in total import and export value, representing 56.9% of China's total trade, thus driving an overall increase of 3.7 percentage points in total trade [2] Group 4: Future Strategies - To mitigate the negative impacts of tariffs, the focus will be on market diversification and seizing new opportunities in international trade digitization [3] - A series of supportive policies have been implemented to stabilize foreign trade, including increased support for enterprises affected by tariffs and enhancements to the overseas trade service system [3] - The government aims to expand the coverage of export credit insurance and promote the development of cross-border e-commerce [3]

Group 1 - The market has shown resilience in liquidity due to external risk expectations and strong policy support for medium to long-term capital inflow [1] - The performance of A-shares is expected to improve as financing may stop its outflow process, creating new opportunities for inflow when new themes emerge [1] - In Q1 2025, the revenue growth rate of all A-shares is expected to decline compared to Q4 2024, while the net profit growth rate is expected to turn positive, indicating significant improvement [1] Group 2 - On Thursday, the A-share market opened lower but experienced upward fluctuations, with the Shanghai Composite Index facing resistance around 3359 points [2] - The focus of policies has shifted towards expanding domestic demand, with attention on the implementation of fiscal policies and consumption stimulus measures [2] - The central bank has signaled easing, and the increase in financing balance is expected to support market liquidity, with ETF funds continuing to flow in [2] Group 3 - The three major indices collectively rose on Thursday, with the Shanghai Composite Index remaining above the 5-day moving average, indicating a short-term bullish trend [3] - A series of financial policies were released, signaling the start of new incremental policies aimed at enhancing economic resilience and stability [3] - More incremental policies are expected to be introduced, particularly in fiscal policy, domestic demand expansion, and stabilizing foreign trade [3]

21世纪经济报道 实习生 张长荣 记者 崔文静 北京报道 5月7日上午，国务院新闻办公室举行新闻发布会，中国人民银行、国家金融监督管理总局、中国证监会 负责人介绍了"一揽子金融政策支持稳市场稳预期"有关情况。其中，央行推出包含数量型、价格型政策 及结构性货币政策工具三大类共十项货币政策措施；国家金融监管总局近期将推出八项增量政策；证监 会亦将出台多项资本市场政策。这些政策在稳楼市股市、支持科技创新、促进消费等多个关键领域均作 出相关部署。 多家机构指出，当前政策出台恰逢其时。 开源证券宏观经济首席分析师何宁表示，随着关税扰动初显，政策落地的窗口期已至。在政策效果方 面，据中信建投首席政策分析师胡玉玮测算，本次增量资金释放规模基本可以对冲关税带来的负面冲 击。 万联证券研究所负责人、宏观首席分析师徐飞表示，此次发布会是对中央经济工作会议精神和政治局会 议精神的贯彻落实，强调加大宏观调控强度，推出一揽子货币政策措施，服务实体经济高质量发展，为 推动经济持续回升向好、维护资本市场稳健发展营造良好的货币金融环境。 展望未来政策走向，多位分析师预计将有更多增量政策推出，重点集中在财政发力、扩大内需、稳定外 贸等领域。何 ...

Group 1 - The core viewpoint of the article emphasizes the establishment of new structural monetary policy tools to support technological innovation, expand consumption, and stabilize foreign trade, which is a detailed deployment of moderately loose monetary policy [1][2] - Structural monetary policy tools have become an important means to support the real economy, combining both total and structural functions, and ensuring the effective allocation of central bank funds to specific sectors [1][2] - As of the end of Q1 2025, there are 10 structural monetary policy tools in existence with a total balance of 5.9 trillion yuan, covering key areas such as real estate and capital markets [1][2] Group 2 - Supporting technological innovation through structural monetary policy tools can provide low-cost funding for enterprises, facilitating R&D activities and enhancing overall economic competitiveness [2] - Consumption plays a fundamental role in economic growth, and expanding consumption can effectively stimulate domestic demand, especially as residents' income levels rise [2] - The meeting highlighted the establishment of "service consumption and elderly re-loans," indicating the potential for service consumption to grow significantly, with current service consumption accounting for 46.1% of per capita consumption expenditure [2] Group 3 - Looking ahead, structural monetary policy tools are expected to continue optimizing and enhancing their effectiveness, working in conjunction with total monetary policy tools to create a favorable monetary and financial environment for high-quality economic development [3]