Group 1 - The European Union (EU) expressed its commitment to uphold international law in the Asia-Pacific region, particularly regarding the South China Sea issue, and rejected any coercive measures [1] - The Philippines' Foreign Minister acknowledged China as a security challenge and emphasized the country's intention to resolve issues through peaceful dialogue and stronger security cooperation with like-minded partners [1] - Both the EU and the Philippines voiced concerns over China's "illegal, coercive, aggressive, and deceptive actions" in the South China Sea, reaffirming their commitment to freedom of navigation and the 2016 South China Sea arbitration ruling [1] Group 2 - The Chinese Embassy in the Philippines countered that the South China Sea dispute is fundamentally a territorial sovereignty issue, which is beyond the scope of the United Nations Convention on the Law of the Sea [2] - The Chinese spokesperson stated that the current situation in the South China Sea is generally stable and that freedom of navigation has never been a problem, attributing tensions to provocations from other parties [2] - The Chinese side urged the EU to respect its territorial sovereignty and maritime rights in the South China Sea and advised the Philippines not to rely on external forces to resolve the dispute [2]

记者了解到，海南自贸港逐步构建与国家法律体系相配套、与国际惯例相接轨、与自贸港实际相契合的 法规体系，出台了《海南自由贸易港优化营商环境条例》《海南自由贸易港国际商事仲裁发展若干规 定》等一系列法规。孙大海表示，海南下一步将持续通过高质量立法，推动和保障高水平改革开放。 中新社海口6月5日电(记者王子谦)海南省人大常委会副主任孙大海5日介绍，自2021年6月《中华人民共 和国海南自由贸易港法》公布施行以来，已制定出台46件自贸港法规，为海南自贸港建设提供有力法治 保障。 当日，"加快核心政策落地的法治保障——落实《中华人民共和国海南自由贸易港法》"研讨会在海口举 办。孙大海在会上说，《中华人民共和国海南自由贸易港法》实施以来，海南省人大及其常委会对标国 际高水平经贸规则，聚焦封关运作，着眼加快构建海南自贸港法规体系。 《中华人民共和国海南自由贸易港法》明确"国家建立健全全岛封关运作的海南自由贸易港海关监管特 殊区域制度"。中国(海南)改革发展研究院院长迟福林说，海南应加快形成海关监管特殊区域制度的具 体化安排，建立以"零关税"为核心的贸易自由便利的制度安排，全面实行低税率、简税制。 与会专家认为，建立海关监管 ...

文 | 银行螺丝钉 （转载请注明出处） 今天大盘开盘微跌，到收盘变成上涨，波动不大，还在5星，距离4.9星很接近。 大中小盘股略微上涨，涨幅差不多。 前几天比较强势的红利等价值风格、医药下跌。 港股继续强势。 单看港股的话，今年春节后比A股多涨了20%，距离3点几星也不远了。 港股科技类品种领涨。 港股科技今年的盈利增长速度比较可观，带动指数点数上升。 恒生科技在2024年10月初，也回到了正常估值。当时大约在4800-4900点上下。 最近恒生科技回到正常估值，点数在5200点上下。 同样估值下，港股科技背后公司的收入、盈利增长，带动指数点数上涨。 港股医药前几天比较强势，回到正常估值。 今天略有回调。 1. 有朋友问，像价值风格，是不是都是金融行业占比高呢？ 价值风格确实容易配置金融行业。 例如中证红利大约四分之一是金融股；部分红利低波动的配置比例更高一些。 因为价值风格品种比较看重估值数值的高低，金融行业估值数值低，更容易被选入。 2. 自由现金流策略，有没有效果呢？ 这个市场上有一点争议。 不过也不是所有价值风格，金融行业占比都高。 （1）中小盘价值指数，金融行业占比会低一些。 例如中证1000价值、 ...

Group 1 - Morgan Stanley's former Asia chairman Stephen Roach has revised his previous stance on Hong Kong, stating that the U.S.-China conflict may present more opportunities than threats for the region, indicating a potential revival for Hong Kong [1] - Despite external uncertainties, Hong Kong's economy remains robust, with a GDP growth of 3.1% year-on-year in Q1, marking the highest growth in five quarters [1] - The number of registered companies in Hong Kong reached 1.46 million by the end of 2024, with a year-on-year increase of 29,000 [2] Group 2 - Hong Kong's attractiveness as an international trade center is reflected in its export and import growth, with exports rising by 11.9% and imports by 11.4% in the first four months of the year [2] - The Hong Kong stock market has seen significant inflows, with the Hang Seng Index rising approximately 16% this year, outperforming major global markets [2] - The banking system in Hong Kong has shown a substantial increase in reserves, rising to HKD 173.4 billion, significantly higher than the previous year's HKD 44.8 billion [3] Group 3 - Hong Kong maintains its position as the third global financial center, with a narrowing gap with London, as reported by the Z/Yen Group [3] - The Hong Kong government is actively promoting the establishment of multinational supply chain management centers and financial hubs to enhance its international influence [6] - The Central Government's support for Hong Kong's financial sector has been significant, with measures introduced to stimulate the market [5] Group 4 - The Hong Kong government plans to leverage national development opportunities to enhance its economic growth, emphasizing the importance of integrating into the national development framework [7] - The introduction of the "New Capital Investor Visa" has led to 1,257 applications, expected to generate over HKD 37 billion in investment [2] - The anticipated influx of over 44 million visitors to Hong Kong in 2024 indicates a strong recovery in tourism, with a year-on-year increase of over 30% [2]

Core Viewpoint - The Speaker of the U.S. House of Representatives, Johnson, emphasized the complexity of tariff negotiations and the necessity for free and fair trade, stating that now is an opportune time to invest in the United States [1] Group 1 - The complexity of tariff negotiations indicates potential challenges in international trade relations [1] - The call for free and fair trade suggests a focus on equitable market practices, which could impact various industries [1] - The assertion that it is a good time to invest in the U.S. highlights potential growth opportunities in the domestic market [1]

欧盟委员会副主席谢夫乔维奇：我们所有的自由贸易协定都需要升级，因为在之前电子商务还不那么突 出。 ...

35岁的林夏（化名）第一次和我视频时，盯着刚发的工资条苦笑。数字看起来很漂亮，别人都羡慕她，但只有她自己知道，这背后藏着 多少心酸。因为就在发工资的当天，她颤抖着手签下了抗焦虑药的处方。 "大家都说我应该知足了，可为什么我越赚钱，越觉得自己像个行尸走肉？"林夏说这话时，眼里满是疲惫和无奈。 她的故事不是个例。 根据某招聘平台的数据，年薪50万以上的人群中，抑郁症筛查阳性的比例比普通员工高出42%。我们好像陷入了一个怪圈：薪水越来越 高，心里的空间却越来越小。 一、薪资，怎么成了无形的牢笼？ 心理学教授李明做了一个实验：他让两组人写下"自己觉得幸福需要的薪资"。 A组写的是自己当前收入的两倍，B组直接写具体数字。 三个月后，B组的人达成了目标，但他们的幸福感持续时间比A组短了67%。 这就解释了为什么那位月入不菲的产品总监，依然深夜借酒消愁——当薪资成了唯一衡量快乐的标准，我们就像不停在跑的仓鼠，永远 追不到终点。 某互联网大厂的匿名调查更让人震惊：因为薪资比较，团队协作效率每年损失了47个有效工时。神经科学研究显示，当我们知道同事薪 水比自己高时，大脑的活跃区域和被棍棒击打时的反应有83%重合！ 而网络上，" ...

Group 1 - The article discusses the challenges and discomforts associated with bowel movements in adults, highlighting how it affects their daily lives and overall happiness [2][4][32] - A survey involving 3,630 participants reveals that only 10.7% of individuals have a regular bowel movement schedule, while 29.8% fail to achieve a daily bowel movement [9][11] - The survey indicates that 34.4% of respondents have unpredictable bowel movement times, with a higher percentage of women experiencing irregularities [17][35] Group 2 - The article categorizes bowel movement frequency, showing that 50.6% of people have a bowel movement once a day, while 4% report having three or more daily [15][12] - It notes that 41.6% of participants achieve the ideal stool shape, while many others experience various forms of stool that indicate potential digestive issues [24][27] - The article emphasizes the psychological and physical impacts of constipation, with an average pain score of 7.3 for those suffering from it, compared to 5.8 for diarrhea [42][46] Group 3 - Dietary habits play a significant role in bowel health, with 55% of respondents attributing their constipation to poor dietary choices, such as low water intake and insufficient fiber [47][48] - The article highlights that 70.9% of individuals with constipation are making efforts to increase their water intake, while 66% are incorporating more fiber-rich foods into their diets [84][85] - For those experiencing diarrhea, 42.6% report not drinking enough water, and many have dietary habits that exacerbate their condition, such as consuming spicy or heavy foods [70][71]

现金流ETF（159399）是以自由现金流作为选股因子的Smart Beta ETF，紧密跟踪富时中国A股自由 现金流聚焦指数，剔除金融和地产行业，优选自由现金流率最高的50只股票，为投资者筛选出了一批 A 股市场中的 "现金牛" 企业，为长期投资收益奠定了坚实基础。 根据wind数据，现金流ETF（159399）盘中实时净流入超2000万，资金抢筹现金流资产。当前现金 流ETF规模超36亿元，是全市场规模最大的现金流ETF，值得关注。 每日经济新闻 相关机构表示，与红利对比的话，自由现金流是红利的前提，因为只有账上有足够多的钱才有可能 分红。并且自由现金流本身就是一个非常强的因子，它的超额收益不来自于风格上的暴露，而来自于它 选股上面的区别。红利指数可能只选到了自由现金流较高的股票的其中一部分，还有很多表现优秀，但 是没有做高分红的股票被遗漏了，这就是为什么自由现金流指数的历史回撤和表现比红利要好很多的原 因。往后看，我们觉得"大中市值+央国企+充裕现金流"很有希望能成为全年投资主线，也符合政策鼓 励的方向。 值得注意的是，现金流ETF（159399）在分红机制上设置了"月月评估分红"的条款，近期也已经完 ...

Core Insights - Durian, known as the "king of tropical fruits," has gained immense popularity in China, with 95% of global durian exports directed towards the Chinese market [1][3] - The import volume of fresh durian in China reached 1.56 million tons last year, a sevenfold increase since 2017, indicating a significant rise in consumer demand [1][3] - The high price of durian in China is driven not only by consumer preference but also by the challenges in cultivation, transportation, and the lack of domestic production until recently [3][5] Market Dynamics - Historically, China has relied heavily on imported durians due to unsuitable local growing conditions, with attempts to cultivate durian domestically failing for over 60 years [5][7] - Recent advancements in agricultural research have led to successful domestic cultivation in Hainan, with the planting area expanding to 42,000 acres and expected production surpassing 6,000 tons [11][12] - The introduction of domestically grown durians is anticipated to significantly reduce prices, with reports of price drops for various durian varieties already observed [11][12] Supply Chain and Pricing - The average price of Thai durians exported to China has increased nearly sevenfold from 2013 to 2021, highlighting the impact of supply chain dynamics and import dependency [8][11] - The transition to domestic production is expected to disrupt the existing profit model, as increased supply may lead to lower prices and reduced margins for retailers [13][16] - The unique cultural attributes of durian, including its strong flavor and social appeal, have led to a rise in secondary products, enhancing its market value beyond just fresh fruit [16][17] Future Outlook - The successful cultivation of durian in China marks a significant shift in the high-end fruit market, which has traditionally depended on imports [17][18] - As domestic production scales up, the long-term profitability of durian-related businesses may face challenges, but opportunities for value-added products are likely to emerge [16][17]