上海社科院经济研究所研究室主任、研究员詹宇波对第一财经表示，前5月出口两位数增长有外贸企 业抓住时机加快出口的因素，也与企业加快开拓多元化市场和灵活调整策略有关。 非美地区继续补缺口 本文字数：1510，阅读时长大约3分钟 作者 | 第一财 经 缪琦 据上海海关统计，今年前5个月，上海外贸进出口1.8万亿元人民币，同比（下同）增长1.8%，比前4 个月增速提升0.8个百分点。其中，出口7873.8亿元，增长11.5%；进口9946亿元，下降4.8%，降幅 比前4个月收窄2.5个百分点。 从单月数据看，上海外贸增长态势延续，5月进出口增长4.5%，创下月度进出口连续4个月正增长。 其中，出口增长3.5%，进口增长5.3%。 2025.06. 25 据上海海关数据，2025年5月份，上海对美国进出口下降17.4%，对美国出口下降29.7%，对美国进 口下降1.6%；前5个月对美进出口下降6.5%，对美出口下降15.5%，对美进口增加5.0%。 对非美地区出口的增长正在弥补对美出口下降带来的缺口。上海社科院经济研究所助理研究员王佳告 诉第一财经，根据对上海今年前4个月的外贸数据研究，外贸市场多元化的布局已经起到了效 ...

Core Viewpoint - Canada needs to reconsider its trade infrastructure to diversify trade away from the United States towards other markets [1] Group 1: Trade Infrastructure - Shifting 10% of trade from the U.S. would increase the share of goods exported from ports and airports by 5% and 3% respectively, while the share of goods crossing the border by road, rail, and pipeline would decrease by 8% [1] - Current federal spending forecasts indicate that over the next 50 years, road and rail will account for more than 80% of infrastructure capital spending [1] Group 2: Investment and Regulation - Addressing the need for diversified trade infrastructure requires investment from both the private and public sectors, along with regulatory reforms to overcome inefficiencies [1]

Core Insights - Private enterprises have increasingly become a "new engine" for foreign trade, demonstrating resilience in high-value product exports amid tariff fluctuations [1][3] - Shanghai's foreign trade showed a positive growth trend, with total imports and exports reaching 1.8 trillion yuan in the first five months, a year-on-year increase of 1.8% [1] - The diversification of foreign trade markets has effectively compensated for the decline in exports to the U.S., with significant growth in exports to the EU, ASEAN, and Belt and Road countries [2][3] Group 1: Trade Performance - In the first five months, Shanghai's exports amounted to 787.4 billion yuan, an increase of 11.5%, while imports were 994.6 billion yuan, a decrease of 4.8% [1] - In May, Shanghai's foreign trade continued to grow, with a 4.5% increase in total trade, marking four consecutive months of positive growth [1] - Exports to the U.S. saw a significant decline, with a 29.7% drop in May and a 15.5% decrease over the first five months [2] Group 2: Role of Private Enterprises - Private enterprises accounted for 671.7 billion yuan in imports and exports in the first five months, a growth of 22.2%, contributing 7 percentage points to Shanghai's overall foreign trade growth [3] - In May, private enterprises achieved a record monthly import and export value of 147.7 billion yuan, reflecting a 27.3% increase [3] - The flexibility and innovation capabilities of private enterprises are crucial for driving growth in high-tech sectors, particularly those related to smart technologies [3] Group 3: Product Categories - High-value products, particularly electromechanical products, are key drivers of Shanghai's foreign trade growth, with exports reaching 503.9 billion yuan in the first five months, a 2.3% increase [4] - Notable exports include integrated circuits and laptops, which saw increases of 4.5% and 1.6%, respectively [3] - Imports of consumer goods such as meat, dried fruits, and dairy products have shown positive growth, indicating a recovery in consumer demand [5]

文/日本早稻田大学特聘研究员 丁安平 尽管目前中美两国政府降低了对彼此征收的关税，但关税税率仍远高于特 朗普政府本次上台前的水平。倘若这种高关税的局面继续下去，将进一步 加剧美国民生类日用品短缺局面。中国坚实而雄厚的民生日用产品出海美 国 的 同 时 ， 从 规 避 风 险 的角 度 考 虑 ，中 国企 业 出海 日 本 是 合 适 的 一 个 选 择。 根据2025年5月14日中美日内瓦经贸会谈联合声明，美国政府将修改2025年4月2日第14257号行政令中规 定的对中国商品（包括香港特别行政区和澳门特别行政区商品）加征的从价关税。美国政府与中国政府 达成了一项为期90天的关税暂缓协议，旨在缓解持续升级的贸易紧张局势。根据协议，双方同意将此前 美国对中方征收的高达145%的报复性关税暂时降低至30%的税率，并对其他特朗普政府上任以后加征 的关税实施90天的暂缓执行。中国对美方反制的125%的关税，只保留10%的基础关税，其余反制关税 暂缓90天执行。这一措施，预计将于2025年7月8日结束。 特朗普贸易战关税战造成的伤害与机遇 目前美国对中国保留的关税，要加上特朗普第一任期、其对中国加增的大约19%的关税， ...

Core Insights - JD Group released its 2024 Environmental, Social, and Governance (ESG) report, highlighting significant anti-corruption efforts and gender diversity in leadership [1][2][5] Anti-Corruption Efforts - JD Group identified and investigated 221 corruption cases in the past year, with 86% related to commercial bribery [2][4] - The company has implemented measures such as requiring interns and consultants to sign anti-corruption commitments and linking anti-corruption management to employee compensation [4][5] - The report indicates that 12 conflict of interest incidents were investigated, with 20 cases referred to judicial authorities [4] Gender Diversity in Leadership - The board of JD Group consists of 9 members, with 5 being women, resulting in a female board member ratio of 56%, a record high in the industry [1][7] - The proportion of female executives increased from 22% in 2022 to 26.9% in 2024, and the representation of women in STEM roles rose from 11.3% to 23% [7] Employee Retention and Welfare - JD Group's employee turnover rate decreased from 17.6% in 2022 to 14.5% in 2024, marking three consecutive years of decline [11] - The company has committed to improving employee benefits, including a 20% salary increase for key positions and enhanced maternity leave policies [10][11] Industry Challenges and Recommendations - Recent corruption cases in major internet companies highlight systemic issues such as concentrated power in supply chains and inadequate conflict of interest management [5] - Recommendations for the industry include enhancing technology for governance, upgrading conflict of interest reviews, and establishing collaborative mechanisms among companies [5]

煌上煌作为曾经的"卤味第一股"，近年来却频频陷入业绩下滑的困境。2024年，公司全年营业收入为 17.39亿元，同比下降9.44%；归母净利润仅为4032.99万元，同比暴跌42.86%，创下近十年来的次低水 平。更令人担忧的是，其门店数量在2024年锐减837家，从2023年的4497家降至3660家，距离"千城万 店"的目标渐行渐远。这一系列数据背后，折射出传统卤味品牌在新消费时代的生存困境。 业绩失速：闭店潮与"卤味刺客"标签下的生存困境 结语：卤味江湖的生死转型 煌上煌的困境不仅是其自身发展的问题，更是整个传统卤味行业在新消费时代面临的缩影。在年轻人主 导的市场中，品牌需要不断突破自我，找到与消费者情感共鸣的创新点。煌上煌的自救实验虽未完全成 功，但其在产品创新和品牌年轻化上的努力，为行业提供了宝贵的参考。未来，能否在坚守传统与拥抱 变革之间找到平衡，将决定这家老字号的命运走向。 责任编辑：AI观察员 此外，供应链管理的短板和成本压力也对煌上煌造成了沉重打击。2024年，子公司真真老老因合作方仓 储火灾导致存货损失，叠加商誉减值计提对公司利润造成了直接冲击。尽管原材料价格有所回落，但市 场需求的显著下 ...

Core Viewpoint - China Wangwang reported a slight decline in revenue for the fiscal year 2024, but a significant increase in net profit, driven by OEM business growth and snack sales [1] Group 1: Financial Performance - Revenue for fiscal year 2024 was 23.51 billion yuan, a slight decrease of 0.3% year-on-year [1] - Net profit attributable to shareholders increased by 8.6% to 4.34 billion yuan [1] - Gross margin improved by 1 percentage point to 47.6% due to a decrease in raw material and packaging costs [1] Group 2: Business Segments - The OEM business experienced double-digit growth year-on-year, becoming a key growth driver for the company [1] - Snack sales contributed approximately 10% to total revenue for fiscal year 2024, with successful collaborations such as the partnership with Zhao Yiming [1] - Revenue from dairy and beverage segments grew by 1.3% to 12.11 billion yuan, benefiting from multi-channel growth [1] - Rice snacks revenue slightly declined by 1.2% to 5.9 billion yuan, with low single-digit growth when excluding gift package factors [1] Group 3: Strategic Moves - The company has been closing factories since 2023 to reduce its own production capacity due to overcapacity issues [1] - In September 2024, China Wangwang purchased an aircraft for 19.4 million USD from a company controlled by its chairman [1] - In June 2024, the company spent 710 million New Taiwan dollars to acquire land and property from the chairman, citing the need for larger storage facilities [1] - The company is diversifying its investments, including the establishment of an industrial fund with CICC Capital and a 500 million yuan investment to restart the "Shenwang Hotel" project, expected to open in 2027 [1]

Group 1 - The Summer Davos Forum gathered over 1,700 global business and government leaders to discuss "entrepreneurial spirit in the new era" and explore new paths for high-quality global development [1] - The rise of unilateralism and protectionism has led to significant disruptions in the global trade system, with geopolitical conflicts exacerbating uncertainties in global supply chains [1][3] - The supply chain disruptions have prompted companies to seek transformation and international expansion, although they face various challenges in this process [3][4] Group 2 - The "disruption" risk in supply chains is a consequence of rising trade protectionism, affecting global economic cooperation and industry chains [4] - For instance, U.S. restrictions on high-end chips have negatively impacted American companies like NVIDIA, which is projected to lose $5 billion annually due to the loss of the Chinese market [4] - Conversely, these challenges may accelerate China's efforts to strengthen its supply chains, particularly in key sectors like semiconductors and AI [4] Group 3 - Over the past decade, China has transformed from a manufacturing giant to a manufacturing powerhouse, with its manufacturing scale now approximately double that of the U.S. and four times that of Japan and Germany [4] - China's manufacturing sector is expected to account for 40% of the global market share in the next five years, reflecting a shift from low-end to more sophisticated products [4] Group 4 - The need for continued support for traditional industries and advancements in emerging fields such as information technology, biomedicine, and new materials is emphasized for the next decade [5] - Companies are increasingly focusing on supply chain strategies, adopting digital and diversified approaches, and exploring opportunities in green and service-oriented trade [6] Group 5 - The importance of localizing global strategies is highlighted, with companies like TCL emphasizing the need to contribute to local economies and build partnerships in foreign markets [8] - Industrial Fulian's CEO noted that their AI server business is expected to grow significantly in the second half of the year, showcasing the role of technological innovation in navigating uncertainties [8]

Core Viewpoint - Vietnam's Prime Minister stated that the country will diversify its markets and supply chains based on the global situation [1] Group 1 - The Vietnamese government is focusing on enhancing market diversification to adapt to changing global dynamics [1] - Supply chain diversification is a key strategy for Vietnam to mitigate risks associated with global uncertainties [1]

【文/观察者网 张菁娟】在全球贸易分裂和地缘政治动荡下，美元主导地位逐渐减弱，各国央行盯上黄 金、欧元和人民币。 据路透社当地时间24日报道，官方货币与金融机构论坛（OMFIF）当晚将发布报告。根据报告，剔除 计划减持的央行后，三分之一管理着总计5万亿美元资产的央行计划在未来一到两年内增持黄金，这一 比例达到了至少五年来的最高水平。 这项对75家央行的调查于3月至5月进行，首次揭示了美国总统特朗普4月2日"解放日"关税的影响——该 政策引发了市场动荡，并导致避险资产美元和美国国债下跌。 各国央行已在以创纪录速度增持黄金，40%的央行计划在未来十年增加黄金持有量。"在央行黄金购买 量连年创下历史新高之后，储备管理者正加倍押注这种贵金属。" 黄金IC photo 报道称，OMFIF调查的受访者预计，10年后，欧元在全球储备中的份额将达到22%左右。 OMFIF称，去年在受访央行中位列最受欢迎货币的美元，今年已跌至第七位。高达70%的受访央行表示 美国的政治环境阻碍了他们投资美元。 在货币方面，欧元和人民币从央行减持美元、转向多元化配置中获益最大。 OMFIF调查的央行中，16%表示计划在未来12至24个月内增持欧 ...