★ 宏观动态 ★ 国家发展改革委：进一步降低征信服务收费标准 国家发展改革委发布关于进一步降低征信服务收费标准的通知。通知提出，商业银行等机构查询企业信用报告 基准服务费标准每份9元，查询个人信用报告基准服务费标准每份1元。实际收费标准根据用户机构向征信系统 提供的数据量和查询量计算确定，数据查询量适用超额累退计算方法，具体计算公式和计费办法继续按照《国 家发展改革委关于进一步降低中国人民银行征信中心服务收费标准的通知》有关规定执行。农村商业银行、农 村合作银行、农村信用社、村镇银行、小额贷款公司、消费金融公司、融资租赁公司、融资性担保公司、民营 银行、独立法人直销银行、内贸险承保机构等11类金融机构查询企业和个人信用报告实行优惠收费标准。上述 享受优惠政策的机构查询企业信用报告收费标准每份4.5元，查询个人信用报告收费标准每份0.5元。 外交部谈中美出口管制区别：中方出口管制措施符合国际通行做法 5月30日，外交部发言人林剑主持例行记者会。路透社记者提问，中国驻美使馆一名发言人就美暂停向中国商 飞出售发动机技术一事回应记者称，中方坚决反对美方夸大国家安全概念，滥用出口管制。但是，中方的出口 管制不也是这样吗 ...

以下文章来源于芯智讯 ，作者芯智讯浪客剑 芯智讯 . "芯智讯"——有料的科技新媒体！专注于半导体产业链、智能手机产业链、人工智能、AR/VR、智能硬 件及汽车电子等相关领域。 5月30日消息，针对美国商务部工业和安全局（BIS）已经向Synopsys（新思科技）、Cadence、西门子 EDA这三家全球前三的EDA（电子设计自动化）软件厂商发出通知，要求他们停止向中国提供服务的 传闻，Synopsys、Cadence已经发布公告确认已经收到了BIS的通知。 Synopsys于当地时间5月29日发布公称，其在宣布截至2025年4月30日的第二财季财务业绩后，收到了美 国商务部BIS的一封信，通知Synopsys与中国有关的新出口限制（"BIS信函"）。Synopsys目前正在评估 BIS信函对其业务、经营业绩和财务状况的潜在影响。 Cadence称，"稳健的客户设计活动继续推动着强劲的全球业务势头。新要求很复杂，我们正 在与BIS接触，以获得进一步的澄清，同时评估对我们业务和财务业绩的影响。" 虽然Synopsys并未披露美国BIS通知函的具体内容，但是确认是针对中国出口管制。而Cadence披露的内 容进一 ...

Core Viewpoint - Lynas Rare Earths has announced successful production of heavy rare earths, aiming to supply the US and Europe, raising questions about whether this can break China's dominance in the rare earth sector [1][9] Global Rare Earth Industry Landscape - Rare earth elements, known as "industrial vitamins," are crucial in modern technology, with China dominating the global market, producing over 60% of rare earth minerals and 92% of refined supply in 2023 [1][8] - The US heavily relies on China for rare earth imports, with 70% of its rare earth compounds and metals sourced from China between 2020 and 2023 [1][8] Lynas' Production and Cost Challenges - Lynas plans to separate 1,500 tons of heavy rare earths annually, which is only about 5% of China's output of 10,000 to 20,000 tons [3][9] - Lynas' production cost ranges from $10 to $15 per kilogram, significantly higher than China's cost of $4 to $7 per kilogram, not accounting for additional environmental processing costs [3][5] Technical and Operational Limitations - Lynas faces technical challenges, with its extraction process only replicating 30% of China's technology, resulting in lower purity of its products [5][9] - The company struggles with initial processing in Australia and relies on second-hand equipment from China, leading to operational inefficiencies [5][9] US Rare Earth Resource and Processing Issues - Despite having significant rare earth reserves, the US lacks refining capabilities, with over 90% of its rare earth chemical products dependent on China [7][8] - The US military faces production disruptions due to rare earth shortages, particularly for critical components like the F-35 fighter jet [7][8] Impact of China's Export Controls - China's export controls on certain rare earths have led to price surges and inventory shortages in the US and Europe, highlighting the global supply chain's vulnerability [8][9] - Other countries are investing in recycling and alternative materials, but these efforts will take considerable time and resources to yield results [8][9] Conclusion on Lynas and Global Market Dynamics - Lynas' ambitions are overshadowed by the reality of China's overwhelming advantages in production, cost, technology, and supply chain integrity [9] - The prospect of the US and Europe reducing dependence on China for rare earths remains unlikely in the near term, as China continues to play a central role in the global market [9]

商务部回应中方两用物项出口管制问题：体现坚持维护世界和平与地区稳定的一贯立场 智通财经5月29日电，在今天（29日）商务部举行的例行新闻发布会上，商务部新闻发言人就中方两用 物项出口管制的相关问题进行回应。商务部新闻发言人何咏前表示，对具有明显军民两用属性的物项， 实施出口管制是国际通行做法。作为一个负责任的国家，中国对相关物项实施出口管制，体现了坚持维 护世界和平与地区稳定的一贯立场。关于两用物项出口管制的范围，具体可以参见《中华人民共和国出 口管制法》《中华人民共和国两用物项出口管制条例》相关规定。 ...

对于美方滥用出口管制措施，中国商务部新闻发言人此前表示，美方行为严重损害中国企业正当权益，严 重威胁全球半导体产供链安全稳定，严重冲击全球科技创新。给别人"下绊子"，不会让自己跑得更快。这 种以单边保护主义手段，妄图围堵、孤立其他国家的做法，终将损害美自身产业竞争力，其结果只能是搬 起石头砸自己的脚。倘若美方一意孤行，继续实质性损害中方利益，中方必将采取坚决措施，维护自身正 当权益。 据环球时报，英国《金融时报》28日报道，美国政府已实质性切断了部分美国企业向中国出售半导体设 计软件的渠道。报道援引知情人士称，受影响企业包括Cadence、Synopsys及Siemens EDA。上述三家 公司未对置评请求作出回应。 《纽约时报》随后报道称，美方还暂停了与喷气式飞机发动机技术及部分化学品销售有关的对华出口。美 国商务部28日回应美国有线电视新闻网（CNN）称，正"审查对华具有战略意义的出口"，"在某些情况 下，商务部已暂停现有出口许可，或在审查期间施加额外的许可要求"。不过，商务部发言人未就具体涉 及哪些公司作出说明。 ...

中国欧盟商会彦辞（Jens Eskelund）在北京告诉会员和记者，欧洲现在面临着一种情况，一些公司本周 即将用完生产所需的材料。 【文/观察者网 张菁娟】中方管制稀土出口虽精准反击特朗普关税，却也着实令不少西方企业直呼疼。 据《日经亚洲》报道，中国欧盟商会28日警告称，中方管制措施有可能使欧洲制造商在数日内面临停产 危机。不过，商务部最新政策宣讲释放出对欧芯片出口可能松动的信号。 中方强调，此次中国政府依法对相关物项实施出口管制，目的是更好维护国家安全和利益，履行防扩散 等国际义务。相关物项具有军民两用属性，对其实施出口管制是国际通行做法。 《金融时报》此前报道称，中国的出口管控聚焦于中重稀土，这些稀土可制造耐高温的高性能磁铁，如 镝、铽和钐，对军用战斗机、导弹和无人机，以及电动和混合动力车的转子、电机和变速器至关重要。 虽然稀土金属在地壳中较为常见，但以低成本且环保的方式提取难度较大，中国在重稀土加工方面几乎 处于垄断地位。根据国际能源署数据，2023年，约90%的精炼稀土来自中国。 本月早些时候，中美双方同意在90天内暂停关税措施，将税率下调115%，但中国仍严控稀土出口管 制，启动稀土出口许可证制度。 ...

Core Viewpoint - Nvidia is facing significant revenue losses due to restrictions on sales to China, which CEO Jensen Huang estimates to be in the billions of dollars [2][4]. Financial Performance - Despite the challenges in the Chinese market, Nvidia reported a 69% year-over-year revenue growth, reaching $44 billion in the fiscal first quarter, exceeding analysts' expectations [2]. - Nvidia's stock rose approximately 4% in extended trading, potentially reaching its highest level since January [2]. Market Impact - Nvidia's market capitalization has increased by nearly 240% in 2023 and over 170% in the previous year, indicating a strong recovery after a difficult start to 2025 [3]. Regulatory Environment - The U.S. government has imposed restrictions on Nvidia's sales to China, requiring an export license for the H20 processor, which was previously approved, leading to an immediate halt in sales [4]. - The H20 processor was designed to comply with U.S. export controls following restrictions on AI chip exports implemented in 2022 [5].

Core Insights - China's rare earth imports have surpassed exports in recent years, driven by increased domestic demand for high-tech industries and strategic resource enhancement [1][2] - The U.S. heavily relies on China for rare earth elements, with approximately 70% of its imports coming from China, highlighting the need for the U.S. to diversify its supply sources [4][9] Import and Export Trends - In the first quarter of 2025, China imported 24,679.1 tons of rare earths worth 1.87 billion yuan, a decrease of 30.9% in quantity and 30.2% in value compared to the previous year [2] - During the same period, China exported 14,177.6 tons of rare earths valued at 920 million yuan, with a 5.1% increase in quantity but a 9.8% decrease in value year-on-year [2] U.S. Dependency and Strategic Moves - The U.S. is a major consumer of rare earths, particularly for defense applications, which account for 35% of its usage, significantly higher than the global average of 8% [9] - The U.S. government has initiated several measures to reduce reliance on Chinese rare earths, including contracts with companies like Lynas USA to establish domestic processing facilities [11] Government Actions and Policies - The U.S. Department of Defense signed a contract worth $120 million with Lynas in June 2022 to build a heavy rare earth separation facility in Texas, which was later increased to approximately $258 million [11] - The U.S. has also passed legislation to encourage domestic mining and processing of critical minerals, aiming to reduce dependence on foreign imports [11] International Cooperation and Future Outlook - The U.S. is exploring partnerships with other countries to develop rare earth projects, including discussions with Greenland for resource access [11] - The U.S. is considering regulatory changes to expedite deep-sea mining for critical minerals, reflecting a strategic shift towards enhancing domestic resource development [11]

Group 1 - The core issue is the ongoing tensions between the US and China regarding chip exports, with the US imposing stricter controls to hinder China's chip industry development [1][7] - The Chinese government has indicated a willingness to engage in dialogue with the US, but insists that such discussions must be based on equality and respect [1][3] - The US's actions, particularly in the semiconductor sector, reflect a continued intent to contain China's growth despite a temporary pause in the trade war [1][5] Group 2 - Former South Korean Foreign Minister Kang Kyung-wha, now the president of the US Asia Society, is in China to mediate the chip-related disputes, aiming to foster understanding between the two nations [3] - There is significant internal opposition in the US against Trump's trade policies, with some Republican lawmakers arguing that the trade deficit with China does not equate to a zero-sum game and that both economies benefit from trade [5] - A coalition of 12 US states has filed a lawsuit against Trump, challenging the legality of his tariff impositions, which they argue have harmed their interests [5] Group 3 - The ongoing chip export restrictions from the US are seen as a form of economic warfare that impacts both countries, with China striving to enhance its semiconductor capabilities through increased R&D investment [7] - The future of US-China relations in the semiconductor sector is critical for the global chip industry, as both nations navigate the challenges and opportunities presented by their rivalry [7]

公司改革清单完成率达 94%，超计划完成进度目标。兴邦公司获国家专 精特新小巨人认定；盛源公司获得高企认定；富源公司成功收获广东省 博士工作站。多项技术达到国际领先水平，并获得多项科技奖项。 中国自 2025 年 4 月初对部分中重稀土金属物项实施出口管制，境外产 品价格有所上涨，体现其战略价值。广晟有色加大研发投入，提高分离 技术回收率减少氨氮排放降低成本，其兴邦公司处于绝对领先地位。即 使境外企业想重建供应链，也难以短期内实现大规模产业化。这种技术 迭代巩固了中国定价权。 公司将依托新峰矿等自有矿权，加快绿色矿山智能化改造，提升资源开 发效率和环保水平。同时，通过探矿权增储和矿区周边资源整合等方式 逐步扩大中重稀土资源掌控量，夯实公司资源战略地位。 广晟有色在 2025 年的战略方向是什么？ 2025 年广晟有色将全面贯彻落实中央经济工作会议精神，定位为公司高质量 发展攻坚突破年。战略方向包括五个方面：一是聚焦服务国家战略，在增强核 心功能上实现新突破；二是聚力价值创造，在增强效率效益上实现新突破；三 是聚力结构优化，在构建现代产业体系上实现新突破；四是聚力科技强企，在 培育和发展新质生产力上实现新突破； ...