7月31日，南湾珠宝工匠学院揭牌仪式暨匠心故事会在李朗国际珠宝产业园举行。龙岗区总工会、南湾 街道总工会及相关部门负责同志与珠宝行业协会代表、园区企业负责人、匠师库成员及产业工人代表齐 聚一堂，共同见证这一助力珠宝产业高质量发展的重要时刻。 破解产业困局 "家门口"就能提升技能 "在珠宝产业从'制造'向'智造'转型的关键期，我们迫切需要一个能破解'智能转型缺技工、技能提升缺 路径、匠心传承缺载体'等问题的平台。"南湾街道总工会主要负责人在致辞中表示，学院以"工会搭 台、资源整合、工匠领衔"为模式，由街道总工会牵头，联动相关部门，汇聚中盛珠宝、翠绿首饰、甘 露珠宝、黄金谷等龙头企业资源及链接深圳市第三职校课程资源，旨在打造集"工匠精神传承地、技能 人才孵化器、产业升级助推器"于一体的综合服务平台。 当天，南湾珠宝工匠学院正式宣告成立。现场同步举行了匠师库代表聘书颁发仪式。胡秋炎、马楚雄、 胡景、唐恒等8位资深专家与技能大师接过聘书，并组成的"珠宝产业劳模工匠宣讲团"。他们将成为工 匠精神的传播者与技能传承的领路人，为学院"一院三库"（珠宝工匠学院+课程库+匠师库+制度库）建 设注入核心动能。 老匠人与新技艺碰撞 ...

Economic Overview - Shanghai's GDP reached 2.62 trillion yuan in the first half of the year, with a year-on-year growth of 5.1% [1] - The city's industrial added value increased by 5.1% year-on-year, with the tertiary sector's added value growing by 5.4%, accounting for 79.1% of GDP [1] - Total fixed asset investment rose by 6.2% year-on-year, with major projects completing 50.9% of their annual plans [1] Consumer Market - Social retail sales in Shanghai grew by 1.7% year-on-year, driven by policies and activities [2] - The "old-for-new" subsidy program directly boosted social consumption by over 54 billion yuan [2] - International tourist arrivals reached 4.248 million, a 38.5% increase year-on-year [2] Trade and Foreign Investment - Total goods import and export volume was 2.15 trillion yuan, up 2.4% year-on-year, with exports increasing by 11.1% [2] - Private enterprises' import and export volume grew by 23.6%, accounting for 38.1% of the total [2] - Actual foreign investment in Shanghai decreased by 16.4%, but manufacturing and business services saw significant increases of 48.7% and 47.7% respectively [2] Economic Challenges - The external environment remains uncertain, with challenges such as slowing global economic growth and trade risks [3] - There is a notable issue of insufficient demand, particularly in consumer spending, and increased competition in certain industries [3] - Employment stability is under pressure, with decreased recruitment demand in some sectors [3] Strategic Focus for Development - Shanghai's economic development will focus on five key areas: national strategy, industrial upgrading, demand support, innovation drive, and livelihood security [3] - Plans include accelerating the construction of "five centers" and implementing a new round of "Shanghai Plan" for leading industries [4] - Emphasis on enhancing industrial growth, supporting the transformation of the construction industry, and promoting high-quality development in technology services [4] Innovation and Technology - Shanghai aims to strengthen its international technology innovation center and focus on breakthrough technologies [5] - Plans to enhance the functions of professional incubators and implement high-quality concept verification platforms [5] - Initiatives to cultivate leading technology enterprises and accelerate the development of high-growth companies are in place [5]

Economic Overview - Shanghai's GDP reached 2.62 trillion yuan in the first half of the year, with a year-on-year growth of 5.1% [1] - The city's industrial added value increased by 5.1% year-on-year, while the tertiary industry's added value grew by 5.4%, accounting for 79.1% of GDP [1] Investment and Consumption - Total fixed asset investment in Shanghai grew by 6.2% year-on-year, with major projects completing 50.9% of their annual plans [2] - Social retail sales increased by 1.7% year-on-year, with consumption subsidies driving over 54 billion yuan in social consumption [2] - International tourism saw 4.25 million inbound visitors, a 38.5% increase year-on-year [2] Trade Performance - Shanghai's total import and export volume reached 2.15 trillion yuan, growing by 2.4% year-on-year, with exports increasing by 11.1% [2] - Exports to non-U.S. markets rose by 16.1%, and trade with Belt and Road countries, ASEAN, and BRICS members grew by 11.8%, 10.9%, and 16.5% respectively [2] - Private enterprises' imports and exports increased by 23.6%, accounting for 38.1% of the city's total [2] Foreign Investment - Actual foreign investment in Shanghai decreased by 16.4% year-on-year, although manufacturing and business services saw increases of 48.7% and 47.7% respectively [2] - The city added 30 new regional headquarters for multinational companies and 19 foreign R&D centers, totaling 1,046 and 610 respectively [2] Strategic Focus for Future Development - Shanghai's economic development will focus on five key areas: national strategy, industrial upgrading, demand support, innovation-driven growth, and livelihood security [3] - The city plans to enhance its "five centers" construction and implement a new round of pilot programs for service industry expansion [3][4] - Emphasis will be placed on investment in key industries and regions, supporting industrial growth, and promoting high-quality development in technology and service sectors [4][5] Innovation and Technology - Shanghai aims to strengthen its international technology innovation center and focus on cutting-edge and disruptive technologies [5] - Plans include enhancing incubator functions and establishing high-quality concept verification platforms to support the growth of leading technology enterprises [5]

Core Viewpoint - Aoshikan plans to issue convertible bonds totaling up to 1 billion yuan to fund a high-end printed circuit board (PCB) project, with a total investment of 1.82 billion yuan aimed at expanding production capacity and enhancing competitiveness in the high-end PCB market [1][2][3] Group 1: Project Overview - The project will be implemented by Aoshikan's wholly-owned subsidiary, Guangdong Xizhen Circuit Technology Co., Ltd., located in Zhaoqing, Guangdong Province [1] - The total investment for the project is 1.82 billion yuan, with 1 billion yuan sourced from the bond issuance, and the construction period is planned for 24 months [1] - The project aims to build new production facilities, introduce advanced PCB manufacturing equipment, and recruit skilled personnel to meet increasing customer demand [1][2] Group 2: Market Demand and Capacity Expansion - Aoshikan faces capacity bottlenecks in high-end PCB products due to rising demand in data centers, automotive electronics, and other sectors [2] - The project is expected to significantly enhance the company's manufacturing capabilities for high-end PCBs, improving order acceptance and delivery capabilities for complex and high-consistency products [2][3] - The expansion will strengthen Aoshikan's position in emerging applications such as AI servers and automotive electronics, increasing customer loyalty and market share [2] Group 3: Feasibility and Support - The project is supported by national industrial policies that promote rapid development in the PCB industry [3] - Aoshikan's strong R&D capabilities, established customer base, and comprehensive production and quality management systems provide a solid foundation for project implementation [3] - The project aims to create a closed-loop ecosystem for high-end PCBs, enhancing delivery capabilities and optimizing product structure to bolster the company's core competitiveness [3][4] Group 4: Company Profile - Aoshikan focuses on the R&D, production, and sales of high-precision PCBs, establishing a strong brand image and market reputation through technical expertise and manufacturing excellence [4] - The company offers a diverse range of products to meet various customer needs, with applications in data centers, automotive electronics, communication, and consumer electronics [4] - Aoshikan continuously enhances its overall strength and industry influence through innovation, quality control, and customer service [4]

俄罗斯 塔斯社：动力之源与稳定之锚 央视网消息：国际货币基金组织（IMF）近日将2025年中国经济增速预期上调0.8个百分点至4.8%。中国上半年经济活跃度好于预期 引起国际舆论广泛关注。 英国《镜报》："酷元素"推动中国经济增长更均衡 文章指出，2025年以来，有关中国科技和商业发展的新闻层出不穷。这些消息的论调虽然略有不同，但贯穿其中都有一种日益凸显 的"酷元素"。2025年早些时候，中国人工智能企业深度求索以其高性能、高性价比的推理大模型震惊世界。近日，在上海落幕的世 界人工智能大会也令外界看到了中国科研机构和企业的创新能力。 2025年上半年，中国经济逆势增长，数据表现亮眼。多家外媒及海外智库高度评价中国在全球不确定性加剧背景下展现出的韧性与 动能，并乐观展望下半年中国经济发展态势，称中国为全球经济增长的动力之源与稳定之锚。尽管遭遇关税逆风，上半年中国出口 仍然表现良好，下半年出口有望继续为增长提供支撑，助力实现全年经济增长目标。 澳大利亚广播公司：重视发展科技实力 中国正在实现产业升级，培育出一批极具国际竞争力的企业和产品，不仅替代品难寻，而且不依赖外部单一市场。如今，中国正对 开源合作敞开怀抱，这 ...

Group 1 - The core viewpoint emphasizes the importance of boosting consumption as a key strategy for expanding domestic demand, with the government prioritizing this in its work report [1] - Local governments face significant financial constraints due to accumulated debt and a downturn in the real estate market, which complicates the implementation of consumption-boosting policies [1][4] - A recommendation is made to establish a positive incentive mechanism for local governments to promote consumption, aligning with the new stage of economic development in China [1][4] Group 2 - The structure of tax revenue in China shows that VAT, corporate income tax, consumption tax, and personal income tax are the top four tax types, with VAT contributing the most to local tax revenue [2] - The proposal suggests focusing on VAT and consumption tax reforms to stimulate consumption, with specific recommendations for improving the distribution of VAT to favor consumption areas [2][17] - International experiences, particularly from the EU, highlight the transition from production-based to consumption-based tax systems, which could inform China's VAT reform [8][10] Group 3 - The current VAT distribution mechanism in China is criticized for not compensating consumption areas directly, leading to inefficiencies and a lack of incentive for local governments to foster consumption [6][5] - The need for a more scientific and reasonable compensation mechanism is emphasized to align local government incentives with consumption contributions [6][17] - Recommendations include optimizing the VAT distribution mechanism and improving the consumption tax rate structure to enhance consumption [17][19] Group 4 - The U.S. sales tax system provides insights for China's consumption tax reform, particularly in using differentiated tax rates to guide consumer behavior and linking tax revenues to public services [11][15] - The suggestion is made to establish a consumption tax income adjustment system during the transition period to balance regional tax revenue distribution [18] - The importance of improving the consumption statistics system is highlighted to support tax reforms and enhance data infrastructure for a unified market [20]

Group 1: Macro Insights - The July Politburo meeting emphasizes the continuation of supportive economic policies, focusing on breaking the "involution," promoting service consumption, and stabilizing foreign trade, aiming to consolidate the economic recovery and capital market stability [2] Group 2: Industry Research - The coal chemical industry is undergoing structural adjustments and industrial upgrades, with an optimistic outlook for supply and demand optimization, benefiting related companies such as Baofeng Energy, Hualu Hengsheng, Luxi Chemical, Chengzhi Co., and China Xuyang Group [4] Group 3: Company Research - Baowu Magnesium Industry's performance is impacted by declining magnesium prices, but the magnesium-aluminum price ratio has remained below 1 for the past 11 months, indicating growth potential in automotive lightweight applications and robotics [5] - Sujiao Technology reported a decline in traditional business but is seeing rapid growth in emerging sectors, with a focus on deepening low-altitude business layouts despite financial pressures [6] - WuXi AppTec's half-year report shows significant revenue growth, with operating income reaching 20.799 billion yuan and a non-net profit of 5.58 billion yuan, exceeding market expectations, leading to an upward revision of profit forecasts for 2025-2026 [8]

Report Industry Investment Rating No relevant content provided. Core Viewpoints of the Report - The Politburo meeting on July 30 made marginal adjustments to macro - economic policies. Policy is more neutral, emphasizing the implementation of previous supportive measures and long - term layout, with a focus on quality improvement and efficiency enhancement, and industrial upgrading [6]. - The Fed kept interest rates unchanged on July 30, but internal differences were prominent. Powell's hawkish remarks dampened the expectation of an interest rate cut this year, causing the dollar and Treasury yields to rise sharply, and the stock market and gold prices to fluctuate [9]. - Due to weak fundamentals and high downstream inventory, pulp is expected to continue to fluctuate weakly, and reverse arbitrage operations can be considered [10]. Summary by Relevant Catalogs Metals - **Precious Metals (Gold and Silver)** - Gold: FOMC meeting released hawkish expectations, with a trend intensity of - 1. Gold prices such as Comex Gold 2510 and London Gold showed corresponding fluctuations [9][16][21]. - Silver: Prices fell from high levels, with a trend intensity of - 1. Comex Silver 2510 dropped by 3.15% [16][21]. - **Base Metals** - **Copper**: The U.S. copper import tariff was implemented, causing prices to be under pressure, with a trend intensity of 0. Trump imposed a 50% tariff on imported semi - finished copper products, and the price of New York copper tumbled 20% [23][25]. - **Zinc**: Prices fluctuated narrowly, with a trend intensity of - 1. The U.S. Q2 GDP growth was better than expected, and Trump threatened to impose tariffs on India [26][28]. - **Lead**: Inventory increased, and prices were under pressure, with a trend intensity of 0. The inventory of LME lead increased by 6025 tons [29][30]. - **Tin**: Prices fluctuated within a range, with a trend intensity of - 1. The price of SMM 1 tin ingots rose by 3500 yuan/ton [32][36]. - **Aluminum and Related Products** - Aluminum: Prices fluctuated slightly, with a trend intensity of 0. The domestic aluminum ingot social inventory was 51.40 million tons [38][39]. - Alumina: Prices weakened, with a trend intensity of - 1. The price of the Shanghai - bonded area premium remained unchanged [38][39]. - Casting Aluminum Alloy: It followed the trend of electrolytic aluminum, with a trend intensity of 0. The inventory of三地 increased by 291 tons [38][39]. - **Nickel and Stainless Steel** - Nickel: Macroeconomic expectations determined the direction, and fundamentals limited the elasticity, with a trend intensity of 0. Canada's Ontario Province may stop exporting nickel to the U.S. [40][44]. - Stainless Steel: Macroeconomic sentiment dominated the marginal trend, and the real - world situation needed to be improved, with a trend intensity of 0. The price of 304/2B - SS decreased by 50 [40][44]. - **Lithium Carbonate**: Prices fluctuated widely, and the impact at the mine end had not materialized, with a trend intensity of - 1. The SMM battery - grade lithium carbonate index price dropped by 211 yuan/ton [45][47]. Energy and Chemicals - **Industrial Silicon and Polysilicon** - Industrial Silicon: Market sentiment weakened, with a trend intensity of - 1. The U.S. partially cancelled tariffs on certain small solar equipment imported from China [48][50]. - Polysilicon: Attention should be paid to market sentiment changes, with a trend intensity of - 1. The price of polysilicon - N - type re - feedstock remained unchanged [48][50]. - **Other Chemicals** - **Pulp**: It was expected to fluctuate weakly, with a high attention index of ★★★★. The profit of the paper and paper products industry from January to June 2025 decreased by 21.4% year - on - year [10][11]. - **Coal - related Products (Coke, Coking Coal, and Steam Coal)** - Coke: Market sentiment was realized, and prices fluctuated widely. - Coking Coal: Market sentiment was realized, and prices fluctuated widely. - Steam Coal: Daily consumption recovered, and prices stabilized in a fluctuating manner. - **Petrochemical Products (PTA, MEG, etc.)** - PTA: Cost provided support, and month - spread positive arbitrage was recommended. - MEG: The unilateral trend remained weak, and month - spread reverse arbitrage was recommended. Building Materials - **Iron Ore**: Supported by macro - economic expectations, prices fluctuated strongly, with a trend intensity of 0. The price of imported ore such as PB (61.5%) decreased by 8 yuan/ton [51]. - **Steel Products (Rebar and Hot - Rolled Coil)** - Rebar: Affected by macro - economic sentiment, prices fluctuated widely, with a trend intensity of 0. The output of rebar increased by 2.9 million tons in the week of July 24 [55][57]. - Hot - Rolled Coil: Affected by macro - economic sentiment, prices fluctuated widely, with a trend intensity of 0. The output of hot - rolled coil decreased by 3.65 million tons in the week of July 24 [55][57]. - **Silicon - based Alloys (Silicon Ferrosilicon and Manganese Silicon)** - Silicon Ferrosilicon: Affected by macro - economic sentiment, prices fluctuated weakly, with a trend intensity of 0. The price of silicon ferrosilicon in Inner Mongolia increased by 100 yuan/ton [59][62]. - Manganese Silicon: Affected by macro - economic sentiment, prices fluctuated weakly, with a trend intensity of 0. The price of manganese ore Mn44 block increased by 0.5 yuan/ton degree [59][62].

政策与服务"双轮驱动"是取得这份成绩的密码。一方面，政策工具箱持续扩容。一季度，河南省出台加 强金融支持促进外贸稳定增长的指导意见，向金融机构推送外贸重点企业、潜力增长企业、对美贸易受 阻企业清单，助力企业渡过难关、开拓市场；二季度，出台促进外贸稳量提质若干措施，健全重点外贸 企业联系机制，支持企业拓展国内与非洲、美洲市场。 另一方面，企业服务更趋精细化。河南省多次召开重点企业座谈会，摸底调研、梳理分析对美出口情 况，指导帮助企业积极应对。对进出口亿元以上骨干企业实施分级包联，及时解决生产经营中存在的困 难问题。及时兑现支持新郑综保区专项资金，支持区内重点企业保订单、稳经营、扩外销。 此外，河南发布了300个国际性展会推荐名录，支持企业参加展会，新签订单超300亿元，第137届广交 会现场成交超5亿美元，同比增长7.97%。举办2025郑州跨境电商大会暨外贸优品中华行（河南站）活 动，吸引1100余名境内外嘉宾、1000余名采购商到会，成交额超3000万元，有效帮助企业拓展了内销市 场。 下半场：稳量提质 锻造开放新优势 在2025郑州跨境电商大会暨外贸优品中华行（河南站）活动现场，一款看似普通却暗藏玄机的钧 ...

2025年上半年，在宏观经济"总体平稳、稳中有进"的基调下，中国摩托车行业展现出强劲的发展韧性。 中国摩托车商会公布的最新数据显示，1-6月，我国摩托车行业产销双双突破千万大关，达到1061.41万 辆和1061.46万辆，同比分别增长11.83%和11.54%。在全球贸易承压、部分制造业面临价格挑战的背景 下，摩托车行业凭借结构性升级与全球化拓展的双引擎驱动，交出了一份亮眼答卷，成为工业动能转换 的重要样本。 娱乐消费引领内需企稳 中国摩托车商会秘书长张洪波指出，这反映出都市青年已将摩托车从代步工具转变为生活态度载体，大 排量市场的高速增长是消费升级与产业升级共振的必然结果。 东南亚、非洲等新兴市场对中高排量车型及三轮车的需求持续释放，本土化运营成为拓展关键。春风动 力（603129）出口负责人表示，企业正着力加强属地化研发与渠道深耕，以更精准地匹配海外市场需 求。行业集中化态势在全球化进程中同样明显，隆鑫、大长江、广东大冶、宗申等出口前十企业合计出 口量达396.29万辆，占总出口量的61.33%，头部企业主导出口格局。 头部效应与研发驱动效益提升 行业经济效益在2025年上半年显著优化，"强者恒强"的竞 ...