Group 1: Employment and Economic Stability - The government is implementing measures to stabilize employment and promote high-quality economic development, focusing on encouraging enterprises to maintain employment and enhancing vocational training [1] - Specific initiatives include expanding support for export enterprises, encouraging foreign investment, and promoting service product exports [1] Group 2: Consumer Spending and Investment - The government aims to expand service consumption and strengthen care for disabled elderly individuals, as well as promote automotive consumption [1] - Efforts to boost effective investment include improving consumer infrastructure and increasing private investment enthusiasm [1] Group 3: Healthcare and Social Security - Ten provinces in China have implemented direct payment of maternity benefits to individuals, simplifying the process and reducing the time taken to receive benefits [2] - The maternity benefits, funded by the medical insurance fund, replace the salary of female employees during maternity leave [2][3] - The process for claiming maternity insurance has been streamlined, eliminating the need for additional documentation such as birth certificates and marriage certificates [3]

Group 1: Economic Indicators - The U.S. Treasury Department has raised its borrowing forecast for Q2 to $514 billion [13] - China's gold consumption in Q1 decreased by 5.96% year-on-year, while gold ETF holdings increased by 23.47 tons [13] - The People's Bank of China plans to implement timely reserve requirement ratio cuts and interest rate reductions, along with new structural monetary policy tools [12][13] Group 2: Stock Market Performance - U.S. stock indices showed mixed results, with the Dow Jones up by 0.28% and the Nasdaq down by 0.1% [4] - European stock indices closed higher, with the German DAX30 up by 0.13% and the European Stoxx 50 up by 0.32% [5] - Hong Kong's Hang Seng Index fell by 0.04%, while the Hang Seng Tech Index rose by 0.12% [5] Group 3: Commodity Prices - Spot gold rose by 0.79% to $3344.26 per ounce, while spot silver increased by 0.25% to $33.16 per ounce [8] - WTI crude oil fell by 2.06% to $61.68 per barrel, marking a near two-week low [8] - Brent crude oil decreased by 1.97% to $64.61 per barrel [8] Group 4: International Relations and Trade - Trump stated that there are no red lines that would change U.S. tariff policies [11] - The U.S. and Ukraine are expected to sign a mineral agreement soon, enhancing the stability and fairness of the deal [11] - Pakistan's defense minister warned of an imminent military offensive from India [13]

● 本报记者 欧阳剑环 彭扬 "以上政策都注重突出针对性和可操作性，注重增强企业和群众的获得感，将成熟一项出台一项。"赵辰 昕说，下一步，国家发展改革委将积极会同各有关方面抓好若干举措落实，同时将常态化、敞口式做好 政策预研储备，充分备足预案，不断完善稳就业稳经济的政策工具箱，根据形势变化及时出台增量储备 政策。 赵辰昕表示，将加力推动既定政策落地见效，包括提振消费专项行动、用好今年国家层面5万亿元投资 资金、加快设立国家创业投资引导基金等，这些政策大部分将在二季度落地，并不断强化政策取向一致 性。 "不管国际局势如何变化，我们将锚定发展目标，保持战略定力，集中精力办好自己的事，我们对实现 今年经济社会发展目标任务充满信心。"他说。 更好发挥内需主动力作用 "面对当前复杂严峻的国际环境，大力提振消费，全方位扩大国内需求，具有特殊的重要意义。"商务部 副部长盛秋平表示，下一步，将坚定不移办好自己的事，围绕"两稳"政策措施，推出细化举措，进一步 增强消费对经济增长的拉动作用，以强大国内市场更好应对外部风险挑战。 国家发展改革委等四部门有关负责人4月28日在国新办新闻发布会上表示，我国将出台实施稳就业稳经 济推动高 ...

4月28日，国务院新闻办公室举行新闻发布会，国家发展改革委等部门相关负责人重点介绍稳就业稳经 济推动高质量发展的若干举措，回应外界关切。据了解，若干举措注重突出针对性和可操作性，注重增 强企业和群众的获得感，将对经济形成有力支撑，能够促进经济平稳健康发展和保持社会大局稳定。 举措成熟一项出台一项 国家发展改革委副主任赵辰昕在发布会上介绍，若干举措具体包括五方面内容。 在支持就业方面，主要包括鼓励企业积极稳定就业、加大职业技能培训力度、扩大以工代赈等支持、加 强就业公共服务等几项具体举措。 在稳定外贸发展方面，主要包括一业一策、一企一策加大支持力度，帮助出口企业规避风险，扩大服务 产品"出海"，鼓励外资企业境内再投资等几项具体举措。 在促进消费方面，主要包括扩大服务消费，强化失能老年人照护，推动汽车消费扩容，构建技能导向的 薪酬分配制度等几项具体举措。 在积极扩大有效投资方面，主要包括完善消费基础设施、大力提振民间投资积极性、设立新型政策性金 融工具等几项具体举措。 在营造稳定发展的良好环境方面，主要包括持续稳定和活跃资本市场、持续巩固房地产市场稳定态势、 加大对实体经济的金融支持等几项具体举措。 赵辰昕表示， ...

（*数据来源：Wind-央行动态PBOC） 2. 资金面 存款类机构隔夜和七天质押式回购利率一降一升，前者下行近 2 个 bp ，后者因跨月原因上行超 3 个 bp 。 海外方面，最新美国隔夜融资担保利率为 4.29% 。 1. 公开市场操作 央行 4 月 28 日以固定利率、数量招标方式开展了 2790 亿元 7 天期逆回购操作，操作利率 1.50% ，投标量 2790 亿元，中标量 2790 亿元。 Wind 数据显示，当日 1760 亿元逆回购到期，据此计算，单日净投放 1030 亿元。 // 债市综述 // （IMM） 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 1.77% 附近，较上日变化不大。 （*数据来源：Wind-国际货币资金情绪指数、资金综合屏） （*数据来源：Wind-同业存单-发行结果） 4. 银行间主要利率债收益率 | | 1Y | | 2Y | | ЗУ | | SY | | 7Y | | 10Y | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | -- ...

// 热点聚焦 // 1、 我国将出台实施稳就业稳经济推动高质量发展的若干举措。在支持就业方面，主要包括鼓励企业积极稳定就业、加大职业技能培训力度、扩大以工代 赈等支持、加强就业公共服务等举措；在稳定外贸发展方面，主要包括"一业一策""一企一策"加大支持力度、帮助出口企业规避风险、扩大服务产品出 海、鼓励外资企业境内再投资等；在促进消费方面，主要包括扩大服务消费、强化失能老年人照护、推动汽车消费扩容、构建技能导向的薪酬分配制度 等；在积极扩大有效投资方面，主要包括完善消费基础设施、大力提振民间投资积极性、设立新型政策性金融工具等；在营造稳定发展的良好环境方面， 主要包括持续稳定和活跃资本市场、持续巩固房地产市场稳定态势、加大对实体经济的金融支持等。 这些若干举措将成熟一项、出台一项。 2、 中证协就《证券公司董事、监事、高级管理人员及证券从业人员投资行为管理指引（试行）（征求意见稿）》向行业征求意见。《意见稿》强化了关 键岗位人员管理。要求证券公司优化资源配置，加强对董事、监事、高级管理人员、部门及分支机构负责人、保荐代表人、财务顾问主办人、投资经理、 证券分析、证券投资顾问等关键岗位人员的投资行为管理。通过 ...

Employment Support - The government will accelerate the implementation of policies such as job retention subsidies, guarantee loans, and employment subsidies to stabilize the employment situation [2][4] - Five key measures will be taken to ensure overall employment stability, including expanding job opportunities in new production sectors and basic public services [2] - There will be a focus on supporting key groups in employment, including migrant workers and those affected by tariffs [2] Foreign Trade Stability - The government plans to provide substantial financial support to foreign trade enterprises and reduce their domestic sales costs [5] - A comprehensive policy package has been introduced to help foreign trade companies expand into domestic markets and improve financial and service support [5] - Measures will include enhancing export credit insurance and facilitating low-cost financing for small and micro foreign trade enterprises [5] Consumption Promotion - The government will implement policies to enhance consumer spending, including a "trade-in" program for consumer goods and reforms in the automotive sector [6][7] - A series of measures will be introduced to boost service consumption, including a "service consumption season" to promote diverse service offerings [7] Effective Investment Expansion - The government aims to accelerate investments in consumer infrastructure and social sectors, with an estimated annual investment demand exceeding 5 trillion yuan [8] - Key initiatives will include the implementation of a "doubling" action for charging facilities and support for urban parking space construction [8] - A national venture capital guidance fund will be established to promote the integration of artificial intelligence with key industries [8] Stable Development Environment - The government will enhance financial support for the real economy and stabilize the capital market and real estate sector [9] - Monetary policy tools will be utilized to ensure liquidity and support for employment, foreign trade, consumption, and investment [9] - Specific measures will include increasing long-term loan issuance and supporting financing for key sectors such as tourism, hospitality, and education [9]

Core Viewpoint - The Chinese government is set to implement a series of measures aimed at stabilizing employment and the economy, promoting high-quality development, and enhancing the sense of gain among enterprises and the public [1][5]. Group 1: Employment and Economic Stability - The policy measures focus on "supporting employment" to stabilize the daily lives of households [2]. - The government aims to enhance support for foreign trade enterprises affected by external trade environment changes through tailored strategies [2]. - Expanding domestic demand is a primary task for China's economy this year, with measures aimed at "promoting consumption" and "actively expanding effective investment" to unleash the potential of the vast domestic market [2]. Group 2: Specific Policy Measures - The establishment of a childcare subsidy system is designed to alleviate the burden of child-rearing and encourage higher birth rates, which is crucial given the aging population and declining birth rates [3]. - Targeted issuance of car purchase permits for families facing long waiting times in license plate lotteries aims to stimulate automobile consumption without exacerbating traffic congestion [3]. - The combination of these measures is expected to create significant employment opportunities, with a reported increase of 3.08 million new urban jobs in the first quarter, a year-on-year increase of 50,000 [4]. Group 3: Economic Growth and Consumer Market - The consumption market is anticipated to experience renewed growth, with policies like the trade-in program for consumer goods generating over 720 billion yuan in consumption [4]. - The introduction of the childcare subsidy and special loans to support the elderly care industry targets long-term consumption trends driven by demographic changes [4].

Group 1: Employment Support Measures - The government has introduced several measures to stabilize employment, including encouraging companies to maintain jobs, enhancing vocational training, and expanding public employment services [1][3] - A focus on key groups for employment support is emphasized, with a commitment to provide timely policy adjustments based on changing circumstances [3][5] Group 2: Foreign Trade and Investment - Policies are being implemented to support foreign trade, including tailored strategies for individual industries and companies to help export businesses mitigate risks [1][2] - The government aims to enhance effective investment by improving consumer infrastructure and boosting private investment through new policy financial tools [1][4] Group 3: Consumer Spending Initiatives - The government plans to stimulate consumption by expanding service consumption, promoting automotive sales, and implementing a recycling program for consumer goods [1][2] - In the first quarter, retail sales of consumer goods increased by 4.6% year-on-year, with March showing a notable growth of 5.9%, the fastest monthly growth since last year [2] Group 4: Economic Stability and Environment - Measures to create a stable economic environment include maintaining a vibrant capital market, reinforcing real estate market stability, and increasing financial support for the real economy [1][4] - The central bank has reported that foreign exchange reserves remain stable at over $3.2 trillion, providing strong support for the stability of the RMB exchange rate [2]

Group 1 - The Chinese government is actively promoting policies to stabilize employment and the economy, focusing on high-quality development measures [12][13][14] - The government has proposed to reduce consumption restrictions and shift from purchase management to usage management for automobiles, encouraging cities to relax vehicle purchase limits [2][9] - Beijing will issue additional car purchase quotas specifically for families without cars, with 40,000 new energy vehicle quotas planned for 2025 [3][5][6] Group 2 - In 2024, Beijing will allocate 20,000 new energy vehicle quotas to carless families, while Tianjin will provide 30,000 ordinary car quotas for the same demographic [6][10] - Other cities like Guangzhou and Hangzhou are also implementing measures to ease car purchase restrictions for individuals who have participated in the lottery multiple times or belong to specific groups [7][8] - The overall aim is to stimulate automobile consumption, which is crucial for boosting domestic demand and economic growth, as the automotive sector accounts for approximately 10% of China's GDP and retail sales [10][11]