"在海关对接沟通上给了我们很大支持，海外参展也提供了政策扶持，极大提升了品牌在海外的曝光 度。"韩晴坦言，品牌出海已成为公司"十五五"期间的重要战略，政府的有力支持让他们能更自信、更 快速地布局国际市场。 近日，双合盛五星啤酒有限公司首批5000箱啤酒顺利发往马来西亚，迈出了拓展国际市场的重要一步。 对于这次出海，双合盛五星啤酒有限公司选择了一款经典产品、一款创新口味产品作为"先遣军"，在展 现老字号守正创新经营理念的同时，也希望"怀柔好味道"飘香海外。 "产品在马来西亚市场获得了非常好的评价，"双合盛市场总监韩晴表示，"市场反响给了我们很大信 心，首批货物发出后不到一周，我们就接到了第二笔订单。"快速的市场正向反馈，为这家老字号后续 深化渠道精耕、逐步辐射东南亚市场的计划，注入了强劲动力。 从怀柔的厂房到海外的货架，这条出海之路之所以高效顺畅，离不开我区持续优化的营商环境与主动靠 前的服务。从政策咨询、海关对接，到参展支持、资源嫁接，全流程服务精准破解企业"走出去"的初期 发展难题。 双合盛的出海之旅，是我区推动企业国际化发展的一个缩影。目前，我区正积极推动更多优质本土企业 拥抱全球市场。御食园、富亿农、绿 ...

深化沪港联动，共建企业出海"服务港"。香港作为内地企业走出去的重要平台，不仅是内联外通的"超级联系人"，而且是企业国际化战略的"超级增值 人"。上海和香港两大金融中心深化双城互联互通，有助于延续中国企业出海的重要金融服务链条，帮助企业获得更低的跨境交易成本、更丰富的融资选 择，更便捷地对接全球资源。建议上海在规划构建"十五五"期间的企业出海服务体系时，重视加强与香港的出海服务生态共建，通过推动资金、机构、市 场基础设施与信息的高效流动，为中国企业打造强大的"出海服务港"。 21世纪经济报道记者 余纪昕 赋能新质生产力，开展"科创出海"专项试点服务。科创企业尤其是技术密集型企业，普遍具有轻资产、高研发投入、回报周期长、扩张速度快等特征，其 出海服务需求与传统外贸企业存在明显差异。建议上海在相关综合服务平台中设置"科创企业出海服务加速"专项窗口，组建由政府部门、国际银行、创投 机构、知识产权律所等专家构成的顾问团，提供出海全程陪伴式服务。并可通过设置"政策工具包"试点创新金融支持工具，主动搭建"跨境创新生态圈"， 从而促进技术与资本双向对接，推动产学研合作，链接上海与国际科创平台的线上线下交流活动。 随着高水平对 ...

智通财经APP获悉，国泰海通发布研报称，无风险收益下沉、资本市场改革与中国经济转型，"转型 牛"还有很大空间，远望又新峰，看好细分龙头。在经历累年下行与估值收缩后，价值股有望出现重要 拐点。该行从盈利-股价匹配度和盈利-拥挤度匹配度两个维度衡量股价尚未充分计入当前盈利预期上修 预期的赛道，建议重视非银/电池/电子/机械/两轮车/商用车等盈利预期上修的低拥挤滞涨板块。 国泰海通主要观点如下： 新经济景气中枢上移，盈利改善范围扩散。2025年四季度经济转型加快，新经济景气中枢明显上移，并 由AI向出海、资源品、服务消费等更多领域扩散。新兴科技产业链呈现出供需两旺的特征，内部细分 涨价赛道明显增多。把握四季度盈利增长的四个结构特征：1)新兴经济仍是四季度业绩主要高增领域。 科技服务业等第三产业用电量在25Q4高增，并带动全社会用电增速在9月后明显上行，这与工业增加值 下行趋势背离明显，新经济主导并拉动经济复苏；2)中下游制造盈利占比提升。通胀整体改善且新经济 成本传导顺畅，CPI-PPI剪刀差扩张，PPI内部中下游价格更强，工业企业利润向TMT、装备制造与有色 化工等行业集中；3)大中盘业绩增长弹性更大。PMI结构 ...

Group 1 - The core message emphasizes the establishment of the China-Central Asia Trade Cooperation Platform, co-developed by Suhao and Nanjing's Xuanwu District, inviting participation and collaboration from various stakeholders [1] - Since its inception, the platform has attracted nearly 30 Central Asian entities, including official investment and trade promotion agencies as well as numerous business representatives [1] - Suhao is actively advancing the construction of the "Central Asia Jiangsu Center" in Kazakhstan to enhance support for Jiangsu enterprises looking to expand internationally [1] Group 2 - The company aims to provide better services for Jiangsu enterprises that have a strong desire to "go global," leveraging the region's robust manufacturing and complete industrial chain [1] - There is a strong sentiment among committee members regarding the benefits of collective action for international expansion, highlighting the importance of understanding local conditions [1] - Suhao is committed to strengthening the collaborative platform for Jiangsu enterprises to ensure a more solid and vibrant international presence [1]

1月29日，王俊超副总领事出席由中国人民大学和奥克兰大学主办的"中新经贸的机 遇与未来"学术研讨会并致辞。中国人民大学党委书记张东刚、奥克兰大学亚洲研究院 院长菲德勒及两国学界、工商界代表100余人出席活动。经商处主任王程光领事陪同。 与会专家学者围绕"中国'十五五'规划与亚太经贸合作的未来"、"企业出海"、"新中 科技交流合作机遇"等议题深入研讨，并回答观众提问。 王副总表示，中新经济高度互补，利益深度融合。中共二十届四中全会审议通 过"十五五"规划建议，对中国未来五年发展作出战略部署，将为包括新西兰在内的各国 提供更多合作机遇。 （原标题：王俊超副总领事出席"中新经贸的机遇与未来"学术研讨会） 206376295.jpg 504113552.jpg ...

Core Viewpoint - The report emphasizes that the "transformation bull market" has significant potential, driven by the downward shift of risk-free returns, capital market reforms, and China's economic transition, suggesting that value stocks may see a crucial turning point after years of decline and valuation compression [1] Economic Transition and Profit Improvement - By Q4 2025, the economic transition is expected to accelerate, with the new economic growth center notably rising and expanding from AI to sectors like overseas markets, resource products, and service consumption [2] - The emerging technology industry is characterized by strong supply and demand, with an increasing number of internal segments experiencing price hikes [2] - Four structural features of profit growth in Q4 are identified: 1. Emerging economies remain the primary high-growth area for Q4 performance, with significant increases in electricity consumption in the tech service sector [2] 2. Profit share from mid-to-lower manufacturing is increasing, benefiting from improved inflation and smooth cost transmission from the new economy [2] 3. Large and mid-cap companies show greater profit growth elasticity, with improved production expectations and orders [2] 4. High-tech exports maintain high growth rates, particularly in semiconductors, automobiles, and power equipment, with emerging markets driving exports more than developed markets [2] Technology and Manufacturing Insights - The growth in technology and manufacturing is driven by increased AI penetration and accelerated overseas expansion [3] - Emerging technology sectors are experiencing a surge in demand due to rising AI-related business penetration across various industries [3] - In the new round of easing, industrial construction in emerging market countries is expected to accelerate, benefiting China's strong industrial production efficiency [3] Investment Recommendations - Focus on sectors with revised profit expectations and low crowding, such as non-bank financials, batteries, electronics, machinery, two-wheeled vehicles, and commercial vehicles [4] - Two dimensions are used to assess sectors where stock prices have not fully reflected current profit expectation revisions: 1. Profit-stock price matching: sectors like batteries, components, shipbuilding, motorcycles, and engineering machinery have seen profit expectations revised upward but stock performance lagging since November 2025 [4] 2. Profit-crowding matching: sectors like non-bank financials, machinery, and electronics have upward revisions in profit expectations but limited stock price increases [4]

Group 1 - The event aimed to implement national policies for stabilizing foreign trade and enhancing corporate compliance capabilities, responding to the China Council for the Promotion of International Trade's initiative to strengthen foreign commercial services for enterprises [1][4] - The training session focused on compliance system construction and intellectual property risk prevention, attracting participation from 30 companies in the imaging equipment, smart hardware, and 3C accessories sectors, with 56 legal, compliance, intellectual property, and overseas business leaders attending [2][3] - Experts provided practical case analyses and shared cutting-edge strategies, receiving positive feedback from participating companies, effectively addressing compliance and intellectual property challenges faced by enterprises [4] Group 2 - The event exemplified a successful model of national-level commercial legal service resources reaching grassroots levels, empowering local industries, and contributing to high-quality regional economic development [4] - The training and subsequent roundtable discussion were part of the China Council for the Promotion of International Trade's mission to serve enterprises, industries, and promote openness [4]

Group 1 - The core message of the news highlights China's commitment to multilateralism and expanding domestic demand as a priority for economic work in 2026, aiming to share market opportunities globally [1][7] - China's Vice Premier He Lifeng emphasized the importance of expanding domestic demand and maintaining a cooperative approach in international trade [1][9] - The dialogue with Professor Lu Feng from Peking University underscored the need for effective policies to stimulate domestic consumption, while acknowledging that existing measures may not fully address the underlying issues of weak demand [3][10] Group 2 - Professor Lu identified a structural characteristic of the Chinese economy as "strong supply and weak demand," where high supply capabilities, particularly in mid-to-high-end manufacturing, contrast with insufficient consumer demand [4][11] - Data from the General Administration of Customs indicated that China's trade surplus reached $1.19 trillion in 2024, a 20% increase from the previous year, with the figure surpassing $1 trillion by November [4][10] - The discussion pointed out that the imbalance between supply and demand is linked to various factors, including real estate adjustments and income distribution issues, which hinder consumer spending [5][11] Group 3 - The conversation also touched on the trend of companies seeking opportunities abroad as a response to the "strong supply and weak demand" structure, suggesting that this is a natural extension of industries reaching advanced levels [5][12] - In the context of AI development, there is a consensus that both China and the U.S. are leading globally, with each having distinct advantages in different areas of AI technology [5][12] - Professor Lu emphasized the need for a reassessment of resource allocation, particularly in public resources, to better balance supply and demand for sustainable economic growth [6][12]

（来源：经济参考报） 联博基金日前发布中国资本市场观点表示，展望2026年权益市场，可关注中国经济转型升级契机下的资 本市场表现。"反内卷"、企业出海与AI等因素有望支持企业盈利改善。2026年随着经济转型推进，A股 企业有望迎来更强的盈余增长动能。从行业来看，新消费、创新药与科技AI等领域不容忽视。债券市 场方面，明确的趋势性行情或较难出现，区间震荡或更趋常态化。 联博基金副总经理、投资总监朱良表示，具体来看，经济结构转型包括消费形态的转型、竞争模式转型 （"反内卷"）与经营模式转型。中国政府推动提高经济质量的政策对资本市场构成支持。 在消费领域，朱良表示，消费在GDP中的比重逐步上升，相关拉动举措可能使新消费成为重要投资方 向。消费形态方面也在经历转型，年轻群体更注重消费体验与情绪价值，追求即时满足与高反馈。这 种"小确幸"式消费偏好有利于细分市场需求的形成，而民营企业在满足这些细分需求上较为灵活，因而 中小盘民营企业在新消费领域可能带来值得关注的机会。 朱良表示，就政策影响而言，上市公司盈利对市场表现的影响或将大于经济政策的影响。"反内卷"等措 施有望推动盈利改善。此外，上市公司海外营收占比若持续扩大， ...

1月30日，中国（广东）-东盟企业国际供应链合作联盟工作座谈会在广州举行。会上，广东省驻境外经 贸代表处首席代表、海外粤商会代表、省贸促会机关各部室相关负责同志，以及联盟成员等60人参加座 谈。有参会企业代表表示，利用好国内和东盟国家各自的产业与政策优势，能大幅提升产品出海的竞争 力。 （文章来源：21世纪经济报道） ...