文|新浪财经 闫妍 当前外部环境的复杂性、严峻性、不确定性上升，我国外贸企业迎来重磅解决方案。 4月11日，京东宣布推出2000亿元出口转内销扶持计划，未来一年将大规模采购外贸商品，通过自营模 式、流量倾斜及全渠道营销助企业开拓国内市场。 4月12日，苏宁易购启动"外贸优品振兴计划"，将通过极速入驻通道、流量资源倾斜、反向定制支持等 举措，为外贸企业提供从入驻到销售的全链路赋能，推动优质外贸商品快速融入国内消费市场。 不久前，商务部召开专题发布会宣布，已联动中国商业联合会等七大核心协会，构建"政府+平台+渠 道"三维服务体系。重点推进三大工程：一是开展"外贸优品全国行"巡回展销，首站选定上海环球港； 二是启动消费品以旧换新专项行动，预计撬动千亿级消费市场；三是打造"外贸产品优选库"，借助大数 据精准匹配国内消费需求。 在政策号召下，淘天、京东、拼多多、美团、苏宁易购、永辉、盒马等多家企业积极行动，通过开辟超 级采购通道、搭建数字化展销平台等创新举措，为万亿级出口产能开辟内需新赛道，助力外贸企业拓展 内销市场。 如何打通外贸企业内销渠道？怎样应对外部冲击？稳外贸扩消费究竟要怎么做？……新浪财经与众多企 业沟通， ...

1. Report Industry Investment Rating No relevant content provided. 2. Core Viewpoints of the Report - In different bull - bear stages of the bond market, low - grade credit bonds show different performance patterns. In bull markets, low - grade urban investment bonds have the highest narrowing amplitude of valuation yields, and in bear markets, low - grade bonds are relatively "resilient" [1][2]. - In response to the US tariff adjustment policy, from the national to local levels, efforts are being made to support the development of "integrated domestic and foreign trade" market entities and help foreign - trade enterprises expand the domestic market. In the short term, the market may fluctuate due to tariff policies, but in the long term, the impact of tariffs may gradually decrease [3][42]. - This week, the bond market was volatile. Most varieties of financial bonds had a decline in valuation yields compared with last week, and most credit spreads widened. It is not recommended to trade second - tier perpetual bonds too much currently, and attention can be paid to AMC company - related bonds [59][60]. 3. Summary According to Relevant Catalogs 3.1 Different Bull - Bear Stages of Low - Grade Credit Bonds - **Bull Market**: Low - grade urban investment bonds have the highest narrowing amplitude of valuation yields, with the order of AA > AA+ > AAA. For example, from 2022/12/15 to 2023/6/14, the narrowing amplitudes of the yields of 3 - year urban investment bonds of AAA, AA+, and AA were 81BP, 95BP, and 104BP respectively, while the narrowing amplitude of the 3 - year Treasury bond yield was 30BP. This is due to the reduced risk of credit bonds and the high market risk appetite [1][13]. - **Bear Market**: The narrowing amplitude of the yields of AA - rated urban investment bonds is generally lower than that of AAA and AA+ grades (except for a short - term and rapid bear - market stage in 2024/9/23 - 2024/9/29). High - grade credit bonds have better liquidity, and investors have a high demand for coupon assets, so low - grade bonds are relatively "resilient" [2][13]. - **Individual Bonds in Bear Market**: The individual bonds with narrowing valuations in the bear market are mainly concentrated in real estate and some regions with large debt scales. For example, in the bear - market stage from 2025/3/18 to 2025/4/7, many central and state - owned enterprise entities' bond valuations narrowed, which may be because investors thought the bear market would not last long and high - coupon credit bonds were attractive [11]. 3.2 Urban Investment Bonds Weekly Viewpoint 3.2.1 Local Governments Support "Integrated Domestic and Foreign Trade" Market Entities to Cope with Tariff Impacts - The US has continuously adjusted tariff policies, and China has taken a series of counter - measures and internal economic - stabilizing policies. From the national to local levels, efforts are being made to support the development of "integrated domestic and foreign trade" market entities [22][23][26]. - Fujian Province has taken the lead in formulating a specific implementation plan, including establishing a key - enterprise contact mechanism, organizing foreign - trade enterprises to participate in domestic exhibitions, and providing financial and policy support to help enterprises expand the domestic market and international market [27][32]. 3.2.2 Investment Recommendations - **Focus on "Economic Powerhouses"**: Pay attention to provinces with good development momentum and debt management, such as Guangdong, Jiangsu, etc. Their provincial, prefecture - level, and district - county - level platforms are relatively stable, and the duration can be appropriately extended to 5 years [41][42]. - **Regions with Debt - Resolution Policies**: Focus on regions where significant debt - resolution policies or substantial capital inflows have occurred, such as Chongqing, Tianjin, etc. Consider bonds with a duration of 3 - 5 years [42][43]. - **Cities with Strong Industrial Bases**: Pay attention to prefecture - level cities with strong industrial bases and financial support, such as some cities in Guangxi, Hubei, etc. Choose bonds with a duration of 2 - 3 years [46][47]. 3.3 Financial Bonds Weekly Viewpoint - **Overall Performance**: This week, the bond market was volatile. Most varieties of financial bonds had a decline in valuation yields compared with last week, and most credit spreads widened. The widening amplitudes of insurance perpetual bonds and bank second - tier perpetual bonds were larger, while the credit spreads of some bonds such as securities firms' ordinary bonds and short - term financing bonds narrowed [59]. - **Investment Suggestions**: It is not recommended to trade second - tier perpetual bonds too much currently. For short - term commercial financial bonds, partial profit - taking can be considered. Pay attention to 2Y/AAA - and AA+ commercial financial bonds. Also, pay attention to AMC company - related bonds, as the AMC financial bond market is expected to expand [59][60]. 3.4 Primary Market Tracking - The report provides charts on the issuance of credit bonds, financial bonds, the subscription of urban investment bonds and industrial bonds, the issuance costs, the review and registration of credit bonds, and the completion of registration by the credit bond association, but no specific data analysis is given in the summary part [67][68][72]. 3.5 Secondary Market Observation 3.5.1 "Volume" of Secondary Transactions - The report provides a chart showing the trading volume and number of transactions in the secondary market over time, but no specific data analysis is given in the summary part [83][85]. 3.5.2 "Price" of Secondary Transactions No relevant content provided.

永辉超市承诺为库存积压的外贸企业开通"15天极速上架"绿色通道，并提供市场推广与产品升级支持。 盒马则聚焦百货品类，开放24小时入驻通道，并依托高效供应链为外贸企业提供物流支持，盒马将上 线"外贸专区"，联合开发创新商品，覆盖家居、美妆、母婴等领域。 拼多多推出"千亿扶持"计划，未来三年内拟投入资金、流量等资源超过1000亿元人民币，加码高质量电 商生态建设。该计划将加大对跨境中小商家的补贴力度，帮助跨境商家稳定生产，降本增效，应对出海 风险。 苏宁易购发布外贸优品振兴计划，为外贸企业产品内销提供极速入驻和全流程服务，通过线上线下融合 引流促销、联合定制和自营大单包销、一站式代运营等模式帮助外贸企业拓展国内市场。 美团第一时间成立专项，在"商家入驻、经营扶持、品牌打造"等方面开设绿色通道，欢迎外贸商家进驻 美团，全力支持外贸商品上线美团各业务，合力打造繁荣共赢的"内外贸一体化"生态体系，让优质外贸 商品惠及更多国内消费者。 一场商超零售企业联动，助力外贸拓内销的"破局行动"正加速推进。4月14日，记者从深圳市商务局获 悉，在商务部"内外贸一体化"政策引领下，深圳联动国内头部电商平台、零售企业，充分发挥各自优 ...

A股复盘 | 电风扇行情 / 2025.04.14 听说今天又是那种"周末狠狠学习但是周一猛亏"的行情？ 听说今天又是那种"好多概念发酵但是收盘被套"的行情？ 今天a股热点轮动: 果链 AI 眼睛 内外贸一体化 体育 核聚变 电力 锦 CIPS 三胎 东盟铁路, 摩托车, 海南, 汽 车,必选消费,910C,中概回 流, 互金 ..... 但凡抓住一个 你收盘就套佳晨 Datayes 今日A股 我看大家都在为到底豁没豁免中国而吵架，没什么好吵架的， 此前对等关税政策 已经豁免了被单独征收关税的行业，比如汽车、钢铝等，因此结合特朗普的增税 计划，之后很可能会针对半导体、芯片等行业额外加征关税。 当然特朗普也这么预告了，无论是Truth Social，还是对记者，他都是这么表态 的！ 美国商务部长霍华德·鲁特尼克周日在接受ABC《本周》节目采访时表示，智能 手机、计算机及部分其他电子产品将适用单独的关税，这些关税可能会在大约一 个月后实施。 虽然我们一直调侃特朗普像个舔狗一样在等我们的电话，事实上双方的态度都很 强硬，离谈判还有好长一段时间呢！ 做好心理准备！ 今天这个出口数据大超我的预期，一开始海关总署开发布会 ...

Group 1 - Retail stocks showed active trading on the 14th, with companies like Tianhong Co., Nanning Department Store, and Maoye Commercial hitting the daily limit up. Notably, Nanning Department Store has surged nearly 50% in the last five trading days [1] - The Ministry of Commerce organized discussions with trade associations, large supermarkets, and distribution companies to explore ways to leverage their strengths in helping foreign trade enterprises expand domestic sales channels. The "integration of domestic and foreign trade" policy aims to assist foreign trade companies in entering the domestic market [1] - Major retail companies, including JD.com and Hema, have initiated support plans to help foreign trade enterprises tap into the domestic market. JD.com plans to purchase no less than 200 billion yuan worth of export-to-domestic goods over the next year [1] Group 2 - Institutions suggest that under the backdrop of promoting domestic demand, cyclical sectors are expected to recover from low levels, releasing performance elasticity. Beneficiaries include companies like Mixue Group and Xiangyuan Cultural Tourism [2] - The outlook for consumer exports is promising, with increasing policy support for domestic brands going abroad. Attention is recommended for outbound service providers and consumer products with strong competitiveness [2]

导读 ：应对外部冲击重要的是保持定力、做好自己的事，外部冲击是考验也是转型平衡发展的机遇。 作者 | 一财评论员 2025.04. 14 本文字数：1606，阅读时长大约3分钟 在日前举行的商务部4月第2次例行新闻发布会上，商务部新闻发言人表示，将坚定不移推进高水平 对外开放，坚定不移走好自己的发展路，稳步推进内外贸一体化工作。更好发挥超大规模国内市场优 势，共同应对外部冲击。 具体措施包括，持续举办"外贸优品中华行"活动，搭建外贸企业拓内销平台，在市场准入、渠道开 拓、财政金融、服务保障等方面加大对外贸企业拓内销的帮助力度，促进内外贸渠道对接、品牌对 接、产销对接、标准对接。 11日，中国商业联合会联合中国连锁经营协会、中国百货商业协会、中国烹饪协会等七家协会发布 了倡议书，其中指出，当前拓展国内市场、促进内外贸联动发展，做好出口商品转内销的工作，已成 为当务之急。 外贸企业也早已在拓展国内市场上加快布局。由此，就形成了政府部门、行业协会、外贸企业等多方 合力的局面。 超大规模国内市场有能力缓冲外部不确定性带来的冲击。2024年，我国社会消费品零售总额达到 48.8万亿元，在促消费政策的支持下，这一数字还将 ...

Group 1 - The core idea of the articles revolves around the integration of domestic and foreign trade in China, emphasizing the need for businesses to adapt to changing global conditions and leverage the vast domestic market to enhance resilience [2][3][4] - In 2024, China's consumer goods market is projected to reach 48.4 trillion yuan, while the export trade is expected to amount to 25 trillion yuan, highlighting the significance of both domestic and international markets [2] - The "Integration of Domestic and Foreign Trade" has been a recurring theme in government reports and is a focal point of the fifth China International Consumer Products Expo [2][3] Group 2 - The pilot program for "Integration of Domestic and Foreign Trade" initiated in 2021 is set to conclude in 2025, with significant progress made in integrating both markets [3][4] - As of now, 80% of the pilot tasks have been completed across nine regions, with major provinces like Zhejiang, Shanghai, and Guangdong achieving a 30% integration rate among large industrial enterprises [6][4] - The initiative has led to the establishment of over 8,700 industrial enterprises engaging in integrated operations, and more than 2,200 leading enterprises have been cultivated [6] Group 3 - The "Foreign Trade Quality Products Chinese Tour" aims to provide platforms for foreign trade enterprises to expand into domestic markets, emphasizing the importance of building bridges for these businesses [12][13] - Eleven trade associations have jointly launched initiatives to support foreign trade enterprises in their transition to domestic sales, focusing on leveraging existing supply chains and market channels [12][13] - The government is working on resolving discrepancies in labeling and pricing between export and domestic products to facilitate smoother market entry for foreign goods [14] Group 4 - E-commerce platforms and major supermarkets are responding by creating "green channels" for foreign trade products, providing support for enterprises to diversify and stabilize their operations [15] - The fifth Consumer Products Expo has attracted over 4,100 brands from 71 countries and regions, serving as a significant platform for trade and showcasing foreign products [18] - The "1+10+N" initiative will kick off a series of activities aimed at promoting foreign trade products across various domestic markets, enhancing the integration of domestic and international trade [18]

多方携手助外贸产品拓内销 京东宣布，未来一年内，将大规模采购出口转内销商品，帮助外贸企业快速开拓国内市场。 此外，阿里、抖音电商、快手、盒马、叮咚买菜、唯品会、91家纺、震坤行等14家电商平台表示，将发挥电子商务直联供需优势，推出订 单直采、外贸专区、流量支持、绿色通道、供采对接等8方面举措，将优质外贸产品以电商速度从全国各地传递到千家万户。截至目前，各地 已向平台提供约1200家有内销需求企业名单。 永辉超市、华润万家、武商集团、物美等企业将为外贸企业开通"内销直通车"，使外贸产品以最快速度上架与消费者见面。联商网、蚂蚁 商联等零售联盟将以全渠道赋能助力外贸企业转内销、拓市场。 央视网消息：美国滥施关税搅乱全球经济秩序，不少国内外贸企业也可能面临着挑战。为应对美滥施关税影响，商务部加大力度推进内外 贸一体化，帮助外贸产品拓内销，指导行业协会、重点商超、电商平台发挥市场优势、渠道优势、品牌优势，与外贸企业携手并进、共渡时 艰。 我们看到，助力外贸企业开拓国内市场，相关的部门、协会、企业已经纷纷开始行动。从实体商超到线上平台都在想办法。如何助力外贸 企业拓内销？怎样帮助外贸商品丝滑进入国内市场？一起来看大家做出 ...

Group 1 - Global enterprises are facing challenges from "de-globalization," prompting Shanghai companies to respond proactively to the new trend of integrated domestic and foreign trade development [1] - Hema has opened its platform to Chinese foreign trade enterprises, simplifying certification processes and shortening review cycles to facilitate online market expansion [1] - Shanghai's local leaders are actively researching key foreign trade enterprises to implement supportive policies aimed at stabilizing expectations, boosting confidence, and promoting consumption [1] Group 2 - Dongfang International Commercial Group has seen its export share to the U.S. decrease from 28% to 23% over the past seven years, emphasizing the importance of diversifying markets and enhancing supply chain services [2] - Hongming Supply Chain has established a collaborative service platform for the integrated circuit industry, highlighting the necessity of international cooperation in this sector [2] - Despite challenges, the Chinese market remains attractive, with local enterprises quickly adapting to new international trade policies to minimize disruptions [2] Group 3 - Mitsubishi Electric Automation (China) and ABB Group are increasing their investments in China, focusing on integrated operations and smart building markets, respectively [3] - Foreign enterprises recognize the essential role of the Chinese market, citing its complete industrial system, large market demand, and high-quality talent pool as key factors for investment [3] Group 4 - Shanghai's Lingang New Area is promoting global investment activities, while local leaders are engaging with foreign companies to explore win-win development opportunities [4] - The city is reinforcing its position as a major economic center and a testing ground for higher levels of opening up to the outside world [4] Group 5 - Jinshan District plans to support enterprises in exploring emerging markets, particularly in countries along the "Belt and Road" initiative, ASEAN, the Middle East, and Latin America [5] - Huangpu District aims to provide certainty for foreign trade enterprises by implementing supportive policies and early funding disbursements [5] - Jiading District is focusing on localizing supply chains and enhancing domestic innovation capabilities to adapt to high tariff impacts [5] Group 6 - Nanjing Road's New World Daimaru Department Store reported a revenue of 2.303 billion, with a year-on-year growth of 2.01%, indicating a positive trend in consumer spending [6] - The Hongqiao International Central Business District has become a key destination for domestic and international tourists, with a significant proportion of new brands opening their first stores there [6] - Shanghai is set to launch various consumer promotion activities to further unlock internal potential, including showcasing new vehicles at the upcoming 2025 Shanghai Auto Show [6]

外部环境不确定性增加，广大外贸企业如何应对也是当前各方关心的重点。仅4月10日，福建、辽宁等 多省份就明确部署推进内外贸一体化工作。其中，福建就提出要聚焦纺织服装、箱包、食品等传统优势 出口行业，建立省市县分级分类联系重点外贸企业机制，联动行业商协会深入摸排外贸企业需求，"一 对一"帮助开拓国内市场，消纳部分出口受阻产品。 对此，何咏前也有进一步回应。她指出，近日，商务部已组织有关商协会、大型商超和流通企业座谈， 研究更好发挥各自优势，帮助外贸企业扩宽内销渠道。 "我们将帮助出口遇阻的外贸企业开拓国内市场，用好消费品以旧换新政策，办好外贸优品中华行等系 列活动，深入开展内外贸一体化工作等。"何咏前表示，商务部将搭建外贸企业拓内销平台，在市场准 入、渠道开拓、财政金融、服务保障等方面加大对外贸企业拓内销的帮助力度，促进内外贸渠道对接、 品牌对接、产销对接、标准对接。 何咏前表示，作为全球第二大经济体和第二大商品消费市场，面对美国霸凌关税，我们将坚定不移推进 高水平对外开放，坚定不移走好自己的发展路，以自身的稳定发展为全球经济注入更多确定性。 4月10日，商务部新闻发言人何咏前在例行发布会上就"是否与美国就加征关 ...