每经编辑｜张益铭 ｜2025年8月25日 星期一｜ NO.1央行：8月25日将开展6000亿元MLF操作 央行发布2025年8月中期借贷便利招标公告，为保持银行体系流动性充裕，2025年8月25日（周一），中 国人民银行将以固定数量、利率招标、多重价位中标方式开展6000亿元MLF操作，期限为1年期。 点评：央行开展6000亿元MLF操作，显示了中国人民银行在当前经济形势下对流动性管理的重要性和 灵活性。这一举措旨在引导银行体系保持资金充裕，平稳市场利率，支持实体经济发展。 点评：广东加快出台养老金融指导性文件，体现了地方政府对养老产业的高度重视及其对金融支持养老 事业的积极探索。此举旨在通过制度设计推动养老金融的协同发展，为银发经济注入活力。 NO.3浙江：支持在浙跨境支付机构申请全球支付牌照 近日，浙江发布《浙江省数字贸易改革创新发展实施方案》并指出，强化数字服务贸易特色优势。加强 人工智能等技术在金融、医疗、教育等场景的应用。支持在浙跨境支付机构申请全球支付牌照。积极推 广云外包、平台分包等新业态新模式，鼓励研发、设计、维修、咨询等领域传统服务外包企业向综合解 决方案提供商转型。 点评：浙江支持跨境支付 ...

Group 1: Central Bank Operations - The People's Bank of China will conduct a 600 billion MLF operation on August 25, 2025, to maintain liquidity in the banking system [1] - This operation aims to stabilize market interest rates and support the development of the real economy [1] Group 2: Elderly Finance in Guangdong - Guangdong is accelerating the introduction of provincial-level guiding documents for elderly finance, indicating a strong governmental focus on the elderly industry [2] - The establishment of a "white list" financing mechanism in the elderly sector is intended to inject strong momentum into the coordinated development of elderly finance and the silver economy [2] Group 3: Cross-Border Payment in Zhejiang - Zhejiang supports cross-border payment institutions in applying for global payment licenses, reflecting a forward-looking and open attitude towards digital trade and services [3] - The policy aims to encourage enterprises to achieve international development through cross-border business, enhancing the global competitiveness of trade services [3] Group 4: Electronic Industry Market Capitalization - The A-share market capitalization of the electronic sector reached 11.54 trillion yuan, surpassing that of the banking sector, marking a historical high [4] - The strong performance of technology stocks is driving optimism about the future development of the electronic industry [4] Group 5: Federal Reserve's Open Stance on Rate Cuts - Federal Reserve Chairman Jerome Powell indicated an open attitude towards potential interest rate cuts, citing risks to employment growth and economic slowdown [5] - Despite concerns about inflation, rising risks in the labor market may lead the Fed to consider rate cuts in September [5]

Core Viewpoint - The meeting emphasized the need to consolidate and expand the positive momentum of economic recovery and strive to achieve the annual economic and social development goals set by the government [2][4]. Economic Performance - The Chinese economy has shown steady progress and achieved new results in high-quality development under the strong leadership of the central government [2][4]. - There is a recognition of both the achievements made and the challenges faced, including risks in economic operations and a complex external environment [2][4]. Policy Implementation - There is a call to enhance the effectiveness of macroeconomic policies, assess their implementation, and respond to market concerns to stabilize expectations [4][5]. - The focus is on strengthening domestic circulation to counter uncertainties in international circulation [4]. Consumer and Investment Growth - The government aims to stimulate consumer potential by removing restrictive measures in the consumption sector and fostering new growth points in service and new consumption [4]. - There is an emphasis on increasing effective investment, particularly in major projects that serve public needs and promote private investment [4]. Market and Real Estate - Measures will be taken to stabilize the real estate market and promote urban renewal, including the renovation of old housing [4]. - The construction of a unified national market is prioritized to unleash the benefits of a large-scale market [4]. Innovation and Employment - The meeting highlighted the importance of deepening reform and opening up to enhance development momentum, particularly through technological and industrial innovation [4]. - There is a commitment to stabilizing employment and improving livelihood services, focusing on disaster prevention and safety regulation [4]. Administrative Efficiency - Local governments are urged to improve administrative efficiency and optimize regulatory services to create favorable conditions for businesses and the public [5].

Group 1 - The 2025 China International Service Trade Fair will be held from September 10 to 14 at Shougang Park, featuring 129 forums and promotional activities [1] - Key forums include topics on service trade development, digital trade trends, world tourism cooperation, and e-commerce [1] - 58 promotional activities will facilitate international service trade cooperation, including events like "Beijing Day" and cross-border service promotion [1] Group 2 - Anhui Province will set up a 252 square meter comprehensive exhibition hall to showcase its service trade development and competitive advantages [2] - The province will also host a promotional event to highlight its business environment and service industry expansion initiatives [2]

Group 1 - The fourth Global Digital Trade Expo will take place in Hangzhou from September 25 to 29, showcasing cutting-edge technologies and immersive experiences, heavily featuring artificial intelligence [1] - The expo will include a main digital trade exhibition area and seven specialized industry exhibition areas, focusing on sectors such as e-commerce, artificial intelligence, smart transportation, digital entertainment, digital healthcare, smart spaces, and smart logistics [1] - Leading companies and institutions like Alibaba, Huawei, and Zhijiang Laboratory will present their AI innovations, demonstrating capabilities from foundational models to advanced applications [1][2] Group 2 - The AI exhibition area has doubled in size this year, covering a broader industry chain and introducing a dedicated intelligent agent section, featuring the world's first intelligent agent capable of perception, interaction, and reach [2] - Over 80 robotic products will be showcased at this year's expo, significantly increasing from the previous year, with a dedicated robot show area featuring various performances [2] - The "Artificial Intelligence +" concept will be integrated throughout the exhibition, with other specialized areas presenting the latest AI products and applications across various industries, including cross-border e-commerce, green transportation, medical diagnostics, cultural entertainment, and furniture architecture [3]

Group 1 - The 2025 China International Service Trade Fair will be held from September 10 to 14 at Shougang Park, featuring 129 events including 10 thematic forums and 61 specialized forums [1] - The main guest province, Anhui, will set up a 252 square meter comprehensive exhibition hall to showcase the achievements and competitive advantages of service trade [2] - Bubble Mart will participate as the exclusive trendy cultural brand partner, featuring two exhibition booths and a dessert house that combines IP images with creative desserts [2] Group 2 - The forums will cover various topics such as service trade development, digital trade trends, and e-commerce, aiming to build bridges for international service trade cooperation [1] - Anhui province will promote its business environment and service industry expansion through a dedicated promotional event [2] - The event will also include a focus on innovative service trade development from Jiangsu and Zhejiang provinces, highlighting areas like AI and cultural IP services [3] Group 3 - The fair will introduce a driverless shuttle service within Shougang Park, connecting key locations to enhance visitor experience [3] - To improve traffic efficiency, multiple holographic intersections have been constructed around Shougang Park, utilizing radar and video technology for real-time traffic management [4] - Parking arrangements include 28 parking lots with a total of 11,886 parking spaces to accommodate the expected influx of visitors during the event [4][5]

Economic News - The State Council has forwarded the Ministry of Finance's guidelines on standardizing government and social capital cooperation projects, emphasizing the need for prioritization based on economic and financial conditions [1] - The Chongqing government has issued a plan to enhance financial support for technology enterprises, focusing on mergers and acquisitions loans and equity investments [1] - The Zhejiang provincial government has launched a digital trade reform plan to boost cross-border e-commerce and support traditional industries [1] - The Ministry of Finance plans to issue 12.5 billion RMB of government bonds in Hong Kong on August 27, 2025 [1] - The Financial Regulatory Bureau is developing guidelines to improve health insurance service levels [1] Company Insights - ByteDance has open-sourced the Seed-OSS-36B series large model designed for long context and reasoning applications [3] - Pop Mart's COO expressed confidence in the North American market growth, with plans to open more overseas stores, including its first in Qatar [3] - Huawei has unveiled its new smart screen MateTV, featuring HarmonyOS 5 and advanced touch technology [3] - Xiaomi's automotive division is expected to become profitable in the second half of 2025, with plans for international expansion [3] - Geely has clarified its commitment to maintaining promised features for its vehicles amid customer concerns [3] Industry Analysis Oil and Petrochemical Industry - As of August 8, Brent crude futures settled at $66.59 per barrel, down 2.99% month-over-month, while WTI crude futures were at $63.88 per barrel, down 4.04% [6][8] - U.S. refinery utilization rates increased to 96.4%, with gasoline supply rising by 6.02% month-over-month [7] - U.S. crude oil imports rose by 1.61%, while exports decreased by 9.80% [7] Automotive and Auto Parts Industry - Chuanhuan Technology reported a revenue of approximately 688 million RMB in the first half of 2025, a year-on-year increase of 7.65% [10] - The company maintains a strong competitive advantage in automotive hoses, particularly in material formulation and design [11] - New business areas such as liquid cooling systems for data services are expected to drive future growth [12] Metals and New Materials Industry - Shanjin International reported a revenue of 9.246 billion RMB in the first half of 2025, a year-on-year increase of 42.14% [13] - The company has increased its gold reserves and optimized its multi-metal selection process, contributing to record profits [14] - The company plans to expand its exploration investments and accelerate the transition from exploration to production [14] Chemical Industry - Guoci Materials achieved a revenue of 2.154 billion RMB in the first half of 2025, with a year-on-year growth of 10.29% [20] - The electronic materials segment saw a significant increase in revenue, driven by demand in consumer electronics and automotive sectors [21] - The company is actively developing new products, including high-purity silicon and solid-state battery materials [22]

时间: 9月10日至9月14日 地点： 首钢园 9 中国经济网北京8月21日讯(周宇宁)2025年中国国际服务贸易交易会(服贸会)将于9月10日至14日在北京首钢园举办，在倒计时20天之际，发布了本届服贸会 第二批129场论坛会议及洽谈推介会信息，其中主题论坛10场，专题论坛61场，洽谈推介58场。 本次发布的活动信息包括服务贸易发展论坛、数字贸易发展趋势和前沿论坛、2025世界旅游合作与发展大会、雄安新区数字贸易、创新发展大会、2025电子 商务大会、第四届生态环保产业服务"双碳"战略院士论坛、全球绿色经济发展论坛、第四届世界前沿科技大会、第四届国际会展经济发展论坛、气象经济论 坛、第九届中国服务贸易标准化论坛、2025中国出海企业金融生态高峰论坛、2025数字贸易发展论坛、中国乡村发展主题论坛、科技创新和产业融合推动新 质生产力发展论坛、人工智能赋能教育论坛、2025中国企业国际合规论坛等。 ...

与此同时，《方案》还明确完善"1＋3＋N"总体布局。其中，"1"即全球数字贸易博览会；"3"指3中心， 即杭州、宁波、义乌；"N"指鼓励其他城市特色化打造N个数字贸易标志性项目或应用场景，从而切实 提升数字领域资源配置力、全球辐射力、制度创新力、国际竞争力，增强数字贸易话语权、定价权、规 则权，打造数字贸易强省。 为了推进高能级跨境电商国际枢纽省建设，加快发展数字订购贸易，《方案》提出，要加快跨境电商赋 能产业带，发展"直播＋平台＋跨境电商"融合模式，提升跨境电商海外服务能力。 浙江是跨境电商的先行者，在全国率先实现了跨境电商综试区全省域覆盖，其跨境电商出口规模稳居全 国前列。近年来，当地跨境电商快速发展。2025年上半年，浙江跨境直购方式出口971.7亿元，增长 79.7%。 到2027年，数字贸易规模位居全国前列，基本建成全球数字贸易中心。到2035年，数字交付贸易形成明 显特色优势，数字订购贸易国际影响力显著提升，全面建成全球数字贸易中心。 最新发布的《浙江省数字贸易改革创新发展实施方案》（下称《方案》）明确提出两个阶段目标。 早在2021年，《浙江省数字经济发展"十四五"规划》提出，到2025年数字贸 ...

Core Viewpoint - Zhejiang province aims to explore the relaxation of digital market access and encourage foreign investment in the digital sector, with a goal to establish itself as a global digital trade center by 2035 [1][4]. Group 1: Development Goals - The "Implementation Plan for the Reform and Innovation of Digital Trade in Zhejiang Province" outlines two key phases, with a target of achieving a digital trade import and export total of 1 trillion yuan by 2025, accounting for approximately 2.5% of global trade [2]. - By 2027, Zhejiang plans to enhance its digital trade capabilities and establish a global digital trade center, with a focus on cultural products and digital service trade [3][4]. Group 2: Infrastructure and Support - The plan emphasizes the construction of a modern digital trade port, including improving the digital operation levels of sea, land, and air ports, and supporting the development of key digital trade hubs in Hangzhou, Ningbo, and Yiwu [3]. - It aims to build a tiered structure of digital trade enterprises, fostering collaboration among large, medium, and small enterprises, with specific targets for cross-border e-commerce platforms and sellers by 2027 [3]. Group 3: Policy and International Cooperation - The province will implement a national treatment and negative list management model for foreign investment in the digital sector, and explore the relaxation of restrictions on the proportion of Chinese personnel in co-produced television projects [4]. - Zhejiang will align with international high-standard economic and trade rules in the digital field and promote cooperation with countries involved in the Belt and Road Initiative [4].