下一步，海关将持续开展多形式对企政策宣讲，探索实施更多便利化通关措施，释放政策红利，推动海 南特色和优势产业发展壮大，助力海南自贸港高质量发展。 （文章来源：新华网） 海口海关23日发布消息称，日前，中国石化海南炼油化工有限公司的55.25吨聚丙烯，采用"分批出岛、 集中申报"模式，从洋浦港"二线口岸"顺利出岛。这是海南自由贸易港第一批采用"分出集报"模式通关 的货物。 "分出集报"是海南自贸港封关运作后针对"二线"实施的一种海关监管创新模式，主要适用于高级认证企 业及"白名单"信用等级企业，货物涵盖海南自贸港"零关税"货物及其加工制成品、享受加工增值免关税 政策的保税货物、自境外进入海南自贸港时放宽贸易管理措施货物及其加工制成品。该模式允许企业根 据需要先分批办理货物出岛手续，再在规定期限内完成集中报关，尤其适合生产型企业小批量、多频次 的出岛需求，有利于提升物流效率。 ...

Market Overview - The A-share market showed a mixed performance today, with the Shanghai Composite Index rising by 0.07% to close at 3919.98 points, and the Shenzhen Component Index increasing by 0.27% to 13368.99 points. The ChiNext Index rose by 0.41% to 3205.01 points, indicating a generally stable market with 1508 stocks rising and 3852 stocks falling [1][10]. Industry Performance - Among the primary industries, the leading sectors included Power Equipment, Building Materials, Electronics, Nonferrous Metals, and Banking, with respective gains of 1.12%, 0.88%, 0.58%, 0.42%, and 0.37%. Conversely, sectors such as Social Services, Beauty Care, Retail, Defense, and Computers experienced declines, with losses of 2.07%, 1.65%, 1.60%, 1.42%, and 1.05% respectively [1][10]. Concept Sector Performance - The top-performing concept sectors included Lithium Battery Electrolyte, Glass Fiber, Liquid Cooling Servers, Power Batteries, Copper Clad Laminates, Lithium Battery Anodes, Solid-State Batteries, Lithium Batteries, Fluorine Chemicals, Sodium-Ion Batteries, Lithium Mines, Lithium Battery Cathodes, and Lithium Iron Phosphate Batteries. These sectors showed significant upward movement, reflecting strong investor interest [2][12].

报 告 摘 要 一、 市场表现 20251222大部分指数处于上涨状态，规模指数中中证500指数表现较好，板块指数中 创业板指表现较好，风格指数中中证500成长指数表现较好。通信、有色金属、电 子、消费者服务、综合金融行业表现较好，传媒、银行、纺织服装、轻工制造、电力 公用事业行业表现较差。海南自贸港、海航系、钨矿、半导体设备、光通信等概念表 现较好，SPD、降落伞、家纺、银行精选、胶原蛋白等概念表现较差。 二、市场情绪 20251222市场情绪较为高涨，收盘时有104只股票涨停，有8只股票跌停。昨日涨停股 票今日收盘收益为2.28%，昨日跌停股票今日收盘收益为1.06%。今日封板率71%，较 前日下降2%，连板率25%，较前日下降2%。 三、市场资金流向 截至 20251219 两融余额为25038亿元，其中融资余额24871亿元，融券余额167亿元。 两融余额占流通市值比重为2.6%，两融交易占市场成交额比重为10.1%。 四、折溢价 20251219当日ETF溢价较多的是科创成长ETF南方，ETF折价较多的是创50ETF工 银。近半年以来大宗交易日均成交金额达到21亿元，20251219当日大宗交易成交 ...

Group 1 - The People's Bank of China has announced a one-time credit repair policy for small personal overdue information under 10,000 yuan, applicable to credit cards, housing loans, and consumer loans, emphasizing that full repayment of overdue debts is required for eligibility [1] - Vanke's 2 billion yuan bond extension plan has been rejected again, but it has secured a 30 trading day grace period before default is triggered [1] - Precious metals have seen a significant surge, with gold surpassing 4,440 USD/ounce and silver breaking 69 USD/ounce, both reaching historical highs, while platinum and palladium also saw substantial increases [1] Group 2 - The State Council, led by Premier Li Qiang, is focusing on major projects to stimulate economic growth and support current demand expansion [2] - The December LPR remains unchanged at 3.0% for one year and 3.5% for five years, marking seven consecutive months of stability [2] - The 19th meeting of the Standing Committee of the 14th National People's Congress reviewed the report on the rectification of issues found in the 2024 central budget execution, with a total of 1.04 trillion yuan in issues rectified [2] Group 3 - The Central Economic Work Conference has outlined key reform tasks, including the establishment of a unified national market and the deepening of state-owned enterprise reforms [3] - The draft of the Childcare Services Law has been submitted for review, aimed at supporting families with children under three years old [3] - A draft amendment to the Banking Supervision Law has been introduced to enhance regulatory oversight of major shareholders and actual controllers of banking institutions [3] Group 4 - The Shanghai Municipal Government has approved the "14th Five-Year Plan" aiming for significant improvements in urban competitiveness and GDP per capita by 2035 [4] - The A-share market has seen a notable increase, with the Shanghai Composite Index rising by 0.69% and the Shenzhen Component Index by 1.47%, driven by sectors like semiconductors and free trade zone concepts [4] - The Hong Kong Hang Seng Index closed up 0.43%, with significant gains in semiconductor and gold stocks [4] Group 5 - The Shenzhen housing voucher pilot program is expanding, incorporating housing vouchers as a core compensation method for urban renewal projects [8] - Domestic refined oil prices have experienced a "three consecutive drops," with gasoline prices reduced by 170 yuan/ton and diesel by 165 yuan/ton [8] - The market for mergers and acquisitions in Shenzhen has seen a significant increase, with 1,104 new disclosures totaling 553.7 billion yuan, reflecting a 54% and 55% year-on-year growth respectively [5]

当"全球最大自贸港"落地海南，封关一词让很多人产生疑惑：这是否要把海南"封起来"？封关后去海南是否要办证、海南是不是要成第二个香港等等讨论 引爆了社交媒体。封关并非"封岛"，虽着眼在"封"，但实则是"放"，并且是更大程度的"开放"，其核心是四个字：境内关外。 对普通人来说，海南依然是中国境内，拿身份证就能自由往返；但对商品而言，海南已成为"关外"特殊区域。封关的本质，是把"管人"和"管物"拆开，既 保障人员自由流动，又实现商品最大限度开放。海南自贸港的定位是当今世界最高水平的开放形态，这场"封关"不是与世隔绝的壁垒，而是中国向世界敞 开大门的新坐标。 海南自贸港封关了，它的影响在封关的当天就显现出来，仅三亚一个城市免税的商品销售额就达到了1.18亿元人民币，同比增长了85%。当然，这只是政 策红利的一小部分，要担得起中国新一轮改革开放的关键试验区这个重任，海南自贸港的核心定位和最重要的作用是什么？对国家经济和民众生活又有怎 样的影响？ Part. 1 2025年12月18日，海南自贸港正式启动全岛封关运作，引发了国际社会广泛关注。 封关不封岛传递了重要信号，内涵丰富，既集聚了诸多政策优势与制度创新，自由化及自 ...

李后强 （四川省社会科学院教授） 海南全岛封关运作是一项重大制度变革，对酒业的影响是立体而深远的。它就像一位经验丰富的调酒师，正试图用"政策"这杯基酒，为市场调出一杯层次丰 富、回味悠长的鸡尾酒。 3.供应链效率提升。物流便利，"一线放开"政策使货物通关时间缩短40%以上，海南成为亚太地区酒类集散中心。国际酒类巨头如帝亚吉欧、保乐力加等在 海南设立保税仓，实现了货物快速放行，提高了供应链效率。海南的仓储、物流等基础设施不断完善，为进口酒类提供了更加便捷、高效的流通渠道，缩短 了产品从生产到消费的时间，保证了产品的新鲜度和品质。海南跨境电商政策的完善，使得"线上下单、保税直发"模式得以推广，消费者可以更加方便地购 买到进口酒品，同时也为进口酒类企业拓展销售渠道提供了新的机遇。 （二）对国产酒类的影响 1.加速出海进程。海南自贸港为国产酒类提供了连接全球市场的便捷通道。茅台、五粮液、泸州老窖等头部企业利用海南的政策优势，建立"以海南为跳 板，辐射全球"的贸易网络，降低仓储、分拨及中转成本，将产品销往东南亚、欧洲等更广阔的国际市场。海南与东盟的地理邻近性和RCEP政策优势，也为 国产酒类开拓东盟市场提供了有利条件。 ...

- The report discusses the market performance on December 22, 2025, highlighting that most indices were in an upward trend, with the CSI 500 Index performing particularly well among scale indices, and the ChiNext Index performing well among sector indices[2][7] - The market sentiment was high, with 104 stocks hitting the daily limit up and 8 stocks hitting the daily limit down at the close of trading[2][14] - The financing balance as of December 19, 2025, was 24,871 billion yuan, and the securities lending balance was 167 billion yuan, with the total margin balance accounting for 2.6% of the market's circulating market value[2][20][23] - The report also provides data on ETF premiums and discounts, noting that the Sci-Tech Growth ETF from Southern Fund had the highest premium at 1.49%, while the Creation 50 ETF from ICBC had the highest discount at 0.51% on December 19, 2025[3][24][26] - The report includes information on block trading, indicating that the average daily transaction amount of block trades in the past six months was 2.1 billion yuan, with a discount rate of 5.21% on December 19, 2025[3][27][29] - The annualized discount rates for the main contracts of stock index futures for the Shanghai 50, CSI 300, CSI 500, and CSI 1000 indices were 0.27%, 4.53%, 8.15%, and 12.34%, respectively, on December 22, 2025[3][29][32] - The report lists the top stocks in terms of net inflow and outflow from institutional seats and Northbound funds, with Sannong Seed Industry, Snowman Group, and Aisen Co., Ltd. among the top net inflow stocks[4][37][38]

证券研究报告 | 2025年12月22日 金融工程日报 沪指四连阳重上 3900 点，海南自贸港概念持续发酵 核心观点 金融工程日报 市场表现：20251222 大部分指数处于上涨状态，规模指数中中证 500 指数 表现较好，板块指数中创业板指表现较好，风格指数中中证 500 成长指数表 现较好。通信、有色金属、电子、消费者服务、综合金融行业表现较好，传 媒、银行、纺织服装、轻工制造、电力公用事业行业表现较差。海南自贸港、 海航系、钨矿、半导体设备、光通信等概念表现较好，SPD、降落伞、家纺、 银行精选、胶原蛋白等概念表现较差。 市场情绪：20251222 市场情绪较为高涨，收盘时有 104 只股票涨停，有 8 只股票跌停。昨日涨停股票今日收盘收益为 2.28%，昨日跌停股票今日收盘 收益为 1.06%。今日封板率 71%，较前日下降 2%，连板率 25%，较前日 下降 2%。 市场资金流向：截至 20251219 两融余额为 25038 亿元，其中融资余额 24871 亿元，融券余额 167 亿元。两融余额占流通市值比重为 2.6%，两融 交易占市场成交额比重为 10.1%。 折溢价：20251219 当日 ...

金融市场犹如变幻莫测的海洋，时刻涌动着投资与经济政策的波澜，深刻影响着全球经济的走向。在 此，喜娜AI为您呈上今日财经热点新闻，全方位覆盖股市动态、经济数据、企业财务状况以及政策更 新等关键领域，助您精准洞察金融世界的风云变幻，把握市场脉搏。 十大机构看好A股跨年行情，布局聚焦科技与消费板块 临近年末，十大机构对A股后市发表看法。中信证券等多家机构认为，推动人民币升值因素增多，2026 年跨年行情已开启。政策持续发力，资金积极流入，市场有望震荡上行。行业配置上，成长及消费板块 受关注，TMT、先进制造板块在"春季躁动"期间弹性大，消费板块也有望获政策催化。投资者可关注政 策支持的消费升级、科技创新等领域。详情>> LPR连续7个月"按兵不动"，明年有望稳中有降 2025年12月22日，LPR连续7个月保持不变，1年期为3.0%，5年期以上为3.5%。政策利率稳定、银行业 净息差承压致LPR报价不变。今年宏观经济增长韧性超预期，货币政策保持定力。从政策表述看，后续 将灵活运用降准降息等工具。中信证券等机构认为，虽商业银行息差压力大，但明年LPR有望稳中有 降，降准概率大于降息。详情>> 日本央行加息落地，全球资 ...

龙虎榜知名游资 一、海南 12月18日，海南自由贸易港全岛封关运作正式启动。据三亚市商务局数据，封关首日全市免税销售额达 1.18亿元；据海口海关统计，首日"一线"进口"零关税"享惠货物3.6亿元，主要为原油、航空器材 等，"二线"监管内销加工增值免关税货物1468.9万元，免征关税80.8万元，涉及医疗器械、药品、食品 等品类。 开源证券指出，政策红利释放催生的消费活力，全岛封关落地后，海南自贸港"零关税"商品税目比例由 21%提升至74%增至约6600个，基本覆盖主要生产设备与原材料，预计可为相关企业降低约20%的进口 税负成本。 从消费端看，政策红利将进一步放大海南在旅游与消费领域的吸引力，有利于带动旅游消费及相关零售 业态扩容升级。同时，跨境电商与加工增值政策导向明确，进口原料或半成品在海南加工、增值超过 30%后销往内地可免征进口关税，降低企业成本的同时引导商业模式向制造升级与品牌打造延伸。 海南机场 龙虎榜机构热股 今天机构龙虎榜上榜30只个股，净买入12只，净卖出18只。当日机构买入最多的个股前三位是：神农种 业（2.24亿）、雪人集团（1.71亿）、艾森股份（1.68亿）。 神农种业 龙虎榜显 ...