（央视财经《经济信息联播》）今天（24日），中国人民银行公布的人民币对美元中间价调升52个基 点，报7.0471，创近15个月新高。人民币汇率的强势表现受到哪些因素支撑？ 兴业研究汇率首席研究员 郭嘉沂：（此前）待结汇盘一直处于累积的高位，很多企业持观望态度，临 近年末，此前观望的企业进行了结汇行为，进一步造成人民币快速升值。 兴业研究汇率首席研究员 郭嘉沂：国内经济今年稳步向好，股票市场震荡向上，从外资增配人民币资 产来看，今年对于人民币股票资产也是增持态势。美联储还是在延续降息周期，美元利率、汇率都有比 较明显的下行，也给了人民币升值方向的助力。 业内人士表示，尽管当前国际贸易环境复杂多变，但我国外贸仍保持稳中有进、量质齐升的态势，这一 基本面为人民币汇率提供了坚实的升值支撑。 2025年人民币外汇市场整体运行平稳，对美元汇率稳中有升，11月中旬以来，人民币升值加速，对美元 汇率连续突破关键点位，截至12月24日下午五点，在岸人民币对美元涨破7.02关口，离岸人民币对美元 涨破7.01关口。今年以来，在岸人民币对美元累计涨超3.8%，离岸人民币对美元累计涨超4.4%。 中金公司研究部首席宏观分析师 张文朗 ...

Core Viewpoint - The C919, developed by COMAC, represents a significant advancement in China's aviation industry, aiming to compete with Boeing and Airbus in the narrow-body aircraft market [1][3]. Group 1: Product Experience - The C919 is marketed as a "novel aircraft" and symbolizes China's technological progress and national pride, with ticket sales highlighting flights operated by this model [1]. - The aircraft features a modern design with a smooth integration of the nose and fuselage, optimizing space with a rectangular overhead bin, which is particularly beneficial for the Chinese market that favors carry-on luggage [2]. - The cabin layout, including seating and amenities, is determined by airlines, leading to variations in passenger experience across different operators [2]. Group 2: Market Position and Challenges - Despite its success in the domestic market, COMAC faces challenges in gaining certification from foreign regulatory bodies, exacerbated by international geopolitical tensions [3]. - The C919 also encounters technical and commercial hurdles, such as the lack of a global after-sales support network and foreign customers' preference for established products [3]. - COMAC is advised to solidify its position in the domestic market before pursuing broader international ambitions [3].

Core Viewpoint - The current market fluctuations are not merely driven by capital but represent a systematic recovery of confidence, reflecting the gradual formation of a positive feedback mechanism between the Chinese economy and policy [1][6]. Group 1: Market Dynamics - The market is experiencing a "bunny-style" trend, characterized by small jumps and pauses, but consistently moving forward [1][6]. - Investors are advised to focus on long-term direction and asset selection rather than chasing short-term market rhythms [1][6]. Group 2: Factors Driving Market Confidence - The first factor is the reversal of pessimistic expectations regarding the transition of China's economic growth drivers, with the real estate market stabilizing and rental yields in core cities surpassing risk-free returns [2][3]. - The second factor is collective breakthroughs in technology, including advancements in AI, 6G, robotics, and innovative pharmaceuticals, which have bolstered confidence in China's technological progress [2][3]. - The third factor is the clear support for the private economy through policies like the Private Economy Promotion Law, which is reshaping investor confidence [2][3]. Group 3: Capital Market and Economic Interaction - The interplay between capital markets and the economy is creating a virtuous cycle, with institutional investors increasingly focusing on industry logic and company quality, leading to a more stable and sustainable market [4][5]. - The gradual transfer of household savings to capital markets is viewed as a moderate process, not a sudden shift, and should not be overly interpreted as a trigger for short-term market movements [4][5]. Group 4: Market Volatility and Investment Strategy - Market fluctuations are seen as a "battery" that accumulates energy for future growth, and appropriate corrections can help digest bubbles and prepare for the next upward movement [5][6]. - Investors are encouraged to maintain patience during market volatility and focus on fundamental signals such as industry competition and continuous improvement in corporate profitability [5][6]. Group 5: Future Outlook - The best companies in China are expected to thrive, with industry concentration likely to increase due to policy support and market competition [5][6]. - The focus should be on how companies can leverage capital markets for better development and industry integration, rather than expecting immediate large-scale demand stimulation [5][6].