Political Landscape - The emergency presidential election in South Korea is scheduled for June 3, 2025, following political uncertainty due to the declaration of martial law and the impeachment of President Yoon Suk-yeol[6]. - Recent polls indicate that opposition candidates are leading, reflecting a favorable trend for the opposition party amid high public support for changing the current government[7][8]. Economic Policy Outlook - Key economic policy platforms focus on improving corporate governance and addressing the "Korea discount," with retail investors representing nearly 30% of the population[19]. - Major candidates propose four main categories of capital market policies: corporate governance reform, tax incentives, enhanced accessibility for capital markets, and establishing a fair market order[20]. Market Projections - The KOSPI 12-month target has been raised to 2900, indicating a 9% upside potential, driven by the elimination of political risks and advancements in capital market reforms[3][64]. - The potential reclassification of South Korea's MSCI status could attract approximately $20-30 billion in foreign investment, improving market accessibility[48][51]. Corporate Governance Reforms - Both leading candidates emphasize the importance of corporate governance reforms, which could play a crucial role in narrowing the Korea discount[22][23]. - Despite previous efforts, the valuation of the Korean stock market remains significantly discounted compared to regional and global peers, with a price-to-book ratio discount of 48% compared to developed markets[28]. Tax Incentives - Proposed reforms include changes to dividend and inheritance tax policies to encourage higher dividend payouts, which previously saw significant increases when similar policies were implemented in 2014[37][40]. - The inheritance tax reform aims to address undervaluation issues of listed company stocks, particularly for those with a price-to-book ratio below 0.8[38]. Market Order and Transparency - Candidates commit to strengthening penalties for illegal trading practices, such as insider trading, to enhance protection for minority shareholders and improve market transparency[52][53]. - The overall number of unfair trading cases has decreased, but there has been a rise in cases related to interest disclosures in 2024[53]. Sector-Specific Policies - Both candidates support strategic industries such as AI, renewable energy, and defense, with commitments to establish investment funds and incentives for domestic production[59][60]. - The focus on enhancing the competitiveness of the shipbuilding industry and advancing defense technology is also highlighted in their platforms[60].

Core Points - The European Union (EU) and the United Arab Emirates (UAE) have officially launched negotiations for a bilateral free trade agreement, marking a potential first comprehensive trade agreement for the EU in the Gulf region [1] - The EU Commissioner for Trade and Economic Security, Valdis Dombrovskis, and UAE Minister of State for Foreign Trade, Thani bin Ahmed Al Zeyoudi, reiterated their shared vision for the agreement and agreed on a roadmap, with substantive negotiations expected to begin as early as June [1] - The initial negotiation meetings will focus on reducing tariffs on goods, facilitating services, digital trade, and investment flows, while also exploring ways to promote trade in strategic areas such as renewable energy, green hydrogen, and critical raw materials [1]

1.据新华社消息，中共中央政治局委员、国务院副总理何立峰在人民大会堂会见美国摩根士丹利联席总 裁丹.辛克维兹。何立峰表示，中国坚持以高水平开放推动高质量发展，将为中国和全球经济激发活 力、增添动力，欢迎摩根士丹利在内的更多美资金融机构和长期资本持续深化对华互利合作，积极参与 中国资本市场建设发展。 2.外交部发言人在答记者问时表示，为了进一步便利中外人员往来，中方决定扩大免签国家范围，自 2025年6月9日至2026年6月8日，对沙特、阿曼、科威特、巴林持普通护照人员试行免签政策，上述四国 持普通护照人员来华经商、旅游观光、探亲访友、交流、访问、过境不超过30天可以免办签证入境。加 上2018年全面互免签证的海合会成员国阿联酋和卡塔尔，中方已经实现对海合会国家免签全覆盖。 3.证券时报网：保险资金长期投资改革试点出现"新力量"。与前两批试点多为大型险企不同，第三批试 点参与机构有望新增多家中小保险公司。参与试点的险资机构在数量和类型上实现新突破的同时，险资 参与试点的模式也将有所创新。金融监管总局局长李云泽日前表示，将进一步扩大保险资金长期投资的 试点范围，近期拟批复600亿元，为市场注入更多的增量资金。这宣 ...

// 债市综述 // 1. 公开市场操作 央行 5 月 28 日以固定利率、数量招标方式开展了 2155亿元 7 天期逆回购操作，操作利率 1.40% ，投标量 2155 亿元，中标量 2155 亿元。 Wind 数据显示，当日 1570 亿元逆回购到期，据此计 算，单日净投放 585 亿元。 （*数据来源：Wind-央行动态PBOC） 2. 资金面 流动性继续向宽，存款类机构隔夜和七天质押式回购利率双降，前者下行超 3 个 bp ，后者下行超 1 个 bp 。 海外方面，最新美国隔夜融资担保利率为 4.26% 。 （IMM） （*数据来源：Wind-国际货币资金情绪指数、资金综合屏） 3. 同业存单 全国和主要股份制银行一年期同业存单二级市场上最新成交在 1.72% 附近，较上日略有上行。 4. 银行间主要利率债收益率 （*数据来源：Wind-成交统计BMW） 5. 近期城投债（AAA）各期限利差走势及数据 （*数据来源：Wind-同业存单-发行结果） 6. 国债期货收盘 30 年期主力合约跌 0.04% 10 年期主力合持平 5 年期主力合约跌0.01% 2 年期主力合约跌 0.01% （*数据来源：Wi ...

作为中国重要的制造业和外贸城市，宁波拥有坚实的产业基础。2024年，宁波实现GDP1.8万余亿元、 外贸出口额近9500亿元、工业增加值7000余亿元，分别位列全国城市第11、第4和第5位。目前，宁波全 市拥有规上工业企业1.07万家、外贸企业2.9万家，构建形成门类齐全、完整可靠的产业链供应链。 中国国际经济技术交流中心副主任李抒音在会上表示，面对当前全球经济不确定性上升的背景，中国企 业应主动加强对联合国采购体系的了解，提升产品与服务的国际竞争力，积极对标国际标准和规则，不 断增强参与全球可持续供应体系的能力。 中新网宁波5月28日电 (张斌刘子琳)28日，2025联合国机构专场采购需求对接会在浙江宁波举行，旨在 进一步推动包括宁波企业在内的中国企业加快融入联合国采购体系，拓展国际公共采购市场新空间。 会上，来自联合国多个机构的代表介绍了2025年采购需求，并与中方企业代表围绕合作流程、准入机 制、投标规范等展开深入交流。联合国秘书处采购司司长聂莉斯·梅塞德斯·贝兹(Neris Baez De Mazzora) 介绍，2024年能源类产品成为联合国秘书处从中国采购金额最高的品类。"推动向可再生能源的转型， ...

5月28日周三《新闻联播》要闻22条 智通财经5月28日电，今天《新闻联播》主要内容有： 1、【新思想引领新征程】不断以高质量供给创造引领新需求； 2、推动少先队事业不断取得新成绩——习近平总书记致中国少年先锋队第九次全国代表大会的贺信引 发热烈反响； 3、李强出席东盟—中国—海合会三方经济论坛开幕式并致辞； 4、李强会见越南总理； 5、李强结束出访回到北京； 6、王沪宁主持召开全国政协主席会议； 7、【锲而不舍落实中央八项规定精神】推进学查改 确保学习教育取得实效； 8、C919商业运营两周年 航线网络覆盖全国16个城市； 9、国务院新闻办举行"新征程上的奋斗者"中外记者见面会； 10、财政部今年将在香港发行680亿元人民币国债； 11、市场监管总局专项整治保健品市场"坑老""骗老"行为； 12、2025年全国高考报名人数1335万； 13、联合国环境规划署收录45件中国环境司法案例； 14、1—4月我国可再生能源新增装机1.28亿千瓦； 15、长三角生态绿色一体化发展示范区方厅水院竣工； 16、第九届中国成都国际非物质文化遗产节开幕； 19、美国4月关键制造业资本货物订单现六个月最大跌幅； 20、也门胡塞 ...

Group 1 - The article emphasizes the importance of youth in the context of China's modernization and the responsibilities they hold in achieving national rejuvenation [1][4] - It highlights the need for youth to balance ambition with practical efforts, suggesting that success requires both lofty goals and the ability to create and grasp conditions [2][3] - The text illustrates various fields where young individuals are making significant contributions, such as technology, rural revitalization, disaster response, and international cultural exchange [3][4] Group 2 - The article references historical perspectives on youth, quoting figures like Li Dazhao to underline the role of young people in shaping the future of the nation and the world [4] - It calls for youth to harness their potential by adhering to historical materialism, recognizing objective conditions while actively engaging in societal development [4] - The message conveys that with determination and practical skills, youth can contribute to the overarching goals of national development and modernization [3][4]

Group 1 - Yunnan Energy Investment has won the development rights for three wind power projects, with a total installed capacity of 312.5 MW, which will enhance the company's renewable energy scale and market position [1] - The projects are located in Fuyuan County and Lijiang City, and their implementation requires government approval and related assessments [1] - The future operating performance of these projects may be influenced by national policies and industry conditions, indicating potential uncertainties [1] Group 2 - The first fixed-pile offshore photovoltaic project in China, the CGN Zhaoyuan 400 MW offshore photovoltaic project, has been fully operational, marking a significant breakthrough in the offshore photovoltaic sector [2] - The project, located in the Laizhou Bay sea area of Shandong, covers a total sea area of 512.7 hectares and is expected to generate nearly 700 million kWh annually, equivalent to reducing coal consumption by approximately 208,700 tons and cutting CO2 emissions by about 535,800 tons [2] - This achievement demonstrates China's innovation capabilities and technological progress in renewable energy, contributing to energy structure transformation and green development [2] Group 3 - A nationwide blackout in Portugal on April 28 may have caused economic losses exceeding 2 billion euros, with 99% of surveyed companies reporting impacts [3] - The survey revealed that 71% of companies were unable to operate normally due to the blackout, and 57% lacked emergency power systems, highlighting the vulnerability of Portugal's energy infrastructure [3] - The incident underscores the need for countries to strengthen energy infrastructure and emergency management to mitigate economic impacts from similar events [3]

Financial Performance - The company's total assets increased by 9.56% to RMB 29,769.29 million as of June 30, 2023, compared to RMB 27,172.52 million as of December 31, 2022[5] - Net assets increased by 2.45% to RMB 8,293.16 million as of June 30, 2023, compared to RMB 8,094.89 million as of December 31, 2022[5] - Revenue increased by 11.27% to RMB 1,490.14 million for the first half of 2023, compared to RMB 1,339.18 million for the first half of 2022[5] - Profit attributable to owners of the company increased by 11.99% to RMB 496.30 million for the first half of 2023, compared to RMB 443.18 million for the first half of 2022[5] - Fully diluted EPS increased by 16.43% to 5.81 cents for the first half of 2023, compared to 4.99 cents for the first half of 2022[5] Segment Performance - Power generation revenue increased by 14.50% to RMB 1,195.60 million for the first half of 2023, compared to RMB 1,044.20 million for the first half of 2022[5] - O&M revenue increased by 37.35% to RMB 158.94 million for the first half of 2023, compared to RMB 115.72 million for the first half of 2022[5] - Power generation profit increased by 16.29% to RMB 818.70 million for the first half of 2023, compared to RMB 704.02 million for the first half of 2022[5] - O&M profit increased by 36.62% to RMB 22.20 million for the first half of 2023, compared to RMB 16.25 million for the first half of 2022[5] Operational Capacity and Performance - Operational attributable installed capacity increased by 26.6% to 3,640 MW in 1H2023 from 2,876 MW in 1H2022[17] - Attributable installed capacity of subsidy-free projects reached 2,213 MW, accounting for 61% of the total attributable installed capacity[20] - Wind plants weighted average utilization hours increased by 2.4% to 1,353 hours in 1H2023 from 1,321 hours in 1H2022[21] - Total attributable average grid curtailment increased by 0.7 percentage points to 4.2% in 1H2023 from 3.5% in 1H2022[21] Project Development - The company acquired construction permits for 483.5 MW of projects and approvals/registrations for 706 MW of projects in 1H2023[25]

Financial Performance - Concord New Energy Group's total assets reached RMB 32,129.84 million, a 3.0% increase[5] - Net assets increased by 5.6% to RMB 8,906.31 million[5] - Revenue from continuing operations increased by 6.3% to RMB 2,752.05 million[5] - Profit attributable to owners of the company decreased by 16.5% to RMB 805.13 million[5] - The comprehensive financing rate decreased by 62 bps to 3.98%[14] Operational Highlights - Attributable installed capacity reached 4,615 MW, with 3,732 MW in wind power and 883 MW in solar PV[20] - Newly added attributable installed capacity was 566 MW[17] - Subsidiary-owned total power generation increased by 24.8% to 7,515 GWh[21] - Group administrative expenses decreased by 15%[28] Project Development - Worldwide wind & solar PV project development reached 1,399 MW[23] - Total construction scale reached 2,562 MW, including 566 MW completed in 2024[25] Operating Indicators - Wind power curtailment rate (Attributable Installed) increased by 5.8 percentage points to 9.5%[31] - Solar power curtailment rate (Attributable Installed) increased by 12.6 percentage points to 18.5%[31]