加拿大西三一大学副校长 菲利普·莱尔德：海南自由贸易港全岛封关是习近平主席领导中国深化对外开放迈出的标志性一步，它代表了一种高水平的制度创 新。在当前全球背景下，中国决定将开放推进到具体举措，发出了强烈而积极的信号。它表明，中国致力于开放，不仅仅是原则上的开放，而是通过以制度 为基础，以行动为导向的革新。 塞尔维亚工商会主席 查代日：我认为中国持续推进高水平对外开放，为当今充满不确定性的时代，带来了实现某种确定性的前提条件。海南自贸港全岛封 关的新举措之所以至关重要，因为它为企业和商界人士营造了更便利的营商环境，我认为塞尔维亚的企业，应充分挖掘并把握这一机遇。 海南自由贸易港全岛封关运作18日正式启动。多国人士表示，海南自贸港封关运作为国际贸易和投资提供了更加便利的环境，也为各国企业深化对华合作拓 展了现实路径，有望为深化国际经贸合作注入新动能。 古巴世界经济研究中心国际金融部主任 格拉迪斯·埃尔南德斯：海南这片区域具备许多有利条件，使我们能够积极地展望前景。海南在关税减免等方面提供 一系列优惠措施，这极具吸引力，这项政策与中国的长期发展目标紧密相关。我们毫不怀疑，海南岛将在未来成为重要的商业和物流中心。 巴 ...

（原标题：驻奥克兰总领馆经商处参访新西兰美谷集团有限公司） 12月3日，驻奥克兰总领馆经商处主任王程光领事参访新西兰美谷集团有限公司 （The Beauty Lab Collective），与公司董事总经理李璐交流。新西兰山东总商会会长马 永新在座。 405207203.jpg 李璐介绍，公司致力于美容护肤行业的全产业链运营，涵盖护肤与保健品的研 发、生产和制造，品牌运营及全球化供应链管理。今年6月，其作为新方商务代表团成 员随新西兰总理拉克森访华，公司正积极拓展中国市场。 王程光向其赠送进博会吉祥物"进宝"和消博会吉祥物"宵宵"并表示，"十五五"时 期，中国高水平对外开放将持续推进，更多消费需求将被释放。欢迎新西兰企业利用 进博会、消博会等全球消费精品展示交易平台，共享中国大市场机遇。 ...

Core Insights - The eighth China International Import Expo (CIIE) concluded with a record intended transaction amount of $83.49 billion, marking a 4.4% increase from the previous year [1][3]. Group 1: Scale and Participation - The CIIE featured participation from 155 countries, regions, and international organizations, with 4,108 foreign enterprises exhibiting, covering an exhibition area of over 430,000 square meters, setting a new scale record [5][16]. - The event showcased a significant increase in participation from least developed countries, with an 80% rise in African enterprises, highlighting the inclusion of niche agricultural products [8][16]. Group 2: Innovation and Technology - The expo displayed advancements in robotics, with humanoid robots showcasing enhanced capabilities, indicating the continuous evolution of the event [10][11]. - A total of 461 new products, technologies, and services were presented, reflecting the event's commitment to innovation and quality [14][16]. Group 3: Economic Impact and Global Integration - The CIIE serves as a vital platform for international trade, demonstrating China's growing market attractiveness, with over 600 new exhibitors compared to the previous year, including 290 Fortune 500 companies [16][18]. - The event emphasizes China's role as a significant contributor to global economic stability, with a GDP growth rate of 5.2% in the first three quarters of the year [25][23].

Core Insights - The "Shared Market · Export to China" initiative launched by the Ministry of Commerce aims to invite the world to share opportunities in China's vast market [1][3] - The initiative includes ten major activities such as annual theme country engagements, regional and industry-specific connections, and international promotion weeks [1] - The Ministry plans to select 5 to 6 theme countries annually to facilitate the entry of quality products into the Chinese market and to hold over 100 import promotion events each year [1] Group 1 - The initiative is seen as a significant step towards expanding high-level openness and addressing trade partners' concerns, enhancing mutual benefits [1][2] - The China International Import Expo (CIIE) is highlighted as a key platform for observing market trends and maintaining close ties with consumers [2] - The ongoing high-level opening up of China is viewed as a countermeasure to global economic uncertainties, enhancing China's competitiveness while fostering cooperation [2] Group 2 - The "Shared Market · Export to China" series is perceived as an invitation for global businesses to engage with the Chinese market, providing a direct channel for quality producers [3] - This initiative is also seen as a catalyst for growth across various industries, reflecting China's commitment to maintaining global trade order and building an open world economy [3]

Group 1 - The 8th China International Import Expo and Hongqiao International Economic Forum opened on November 5, 2023, highlighting China's role in maintaining global openness amid a complex landscape of tightening and differentiation in world openness [1][2] - The "World Openness Report 2025" indicates that the global openness index has decreased by 0.05% year-on-year in 2024, showing a decline of 0.34% compared to 2019 and 5.39% compared to 2008, indicating a continued contraction in global openness levels [1][2] - China's openness index has significantly increased from 0.5891 in 1990 to 0.7634 in 2024, marking a nearly 30% rise over 35 years, positioning China first among major economies in terms of openness index [1][4] Group 2 - The report highlights that while social openness remains active, economic and cultural openness are under pressure, with economic openness index declining by 0.22% and cultural openness index declining by 0.58% year-on-year in 2024 [2] - Emerging markets and developing economies have shown a positive trend, with their openness index increasing by 0.42% year-on-year in 2024, indicating a shift towards new driving forces for global openness [2] Group 3 - Foreign investment in China has reached over $3 trillion, with more than 1.27 million foreign enterprises established in the country, reflecting a strong market demand and investment opportunities for multinational companies [5] - The ongoing commitment to high-level openness in China is seen as a stabilizing force for global economic cooperation, with multinational companies like GE Healthcare and Boston Scientific expressing confidence in the Chinese market and its growth potential [6]

Core Points - The 8th China International Import Expo (CIIE) showcases 461 new products, technologies, and services, with total first-time releases since 2018 expected to exceed 3,000, highlighting China's high-level opening-up [1] - Notable first-time exhibits include Turkish coffee, Ecuadorian red bananas, and advanced technologies like controllable expansion vascular stents and humanoid robots, demonstrating China's market appeal [1] - The expo features participation from 155 countries and regions, with 4,108 foreign enterprises, covering over 430,000 square meters, and includes 290 Fortune 500 companies [4] - The event aims to share opportunities with the world, expanding its international network and promoting multilateral cooperation through various forums [4] - The participation of African enterprises has increased by 80% this year, reflecting efforts to enhance engagement with the least developed countries [4][5] Group 1 - The CIIE serves as a platform for companies to launch new products and expand into the Chinese market, with significant orders reported by participants [1] - The expo is recognized as the world's first national-level exhibition focused on imports, running from November 5 to 10 [5] Group 2 - The event's scale has reached new heights, with approximately 450,000 registered attendees expected [4] - Medtronic's global chairman highlighted the importance of China as a key market for medical technology innovation, showcasing several new products at the expo [4]

Core Insights - The 8th China International Import Expo (CIIE) will take place from November 5 to 10 in Shanghai, featuring participation from 155 countries and regions, with over 4,108 foreign enterprises exhibiting, marking a record high in exhibition area exceeding 430,000 square meters [1][2] Group 1: Event Highlights - The expo will showcase 461 new products, technologies, and services, reinforcing China's market as a testing ground for global innovation [3] - The event will include 33 sub-forums and closed-door meetings, along with over 80 supporting activities such as trade negotiations and investment promotion [1][2] - The participation of 290 Fortune 500 and industry-leading companies highlights the expo's significance in global trade [2][4] Group 2: International Participation - There is a 23.1% year-on-year increase in exhibitors from the Belt and Road Initiative countries, with 163 companies from the least developed countries participating, reflecting a 23.5% growth [2] - The number of African enterprises exhibiting has surged by 80%, supported by a zero-tariff policy for 100% of products from African countries with diplomatic relations with China [2][4] Group 3: Services and Logistics - The expo will provide a one-stop service for foreign exhibitors, including expedited customs clearance and transportation options, enhancing the overall experience for participants [6] - Shanghai has established a diverse payment system for inbound consumption, supporting various payment methods including mobile payments and foreign currency exchanges [6]

Core Insights - The meeting between Chinese Premier Li Qiang and Singapore's Deputy Prime Minister Lawrence Wong highlighted the significant progress in China-Singapore relations over the past 35 years, emphasizing mutual respect, trust, and cooperation as key to shared prosperity and future development [1][2]. Group 1: Economic Cooperation - The mutual visa exemption agreement and upgraded free trade agreement between China and Singapore present new opportunities for cooperation [2]. - Future cooperation will focus on upgrading from "factor complementarity" to "collaborative innovation," leveraging China's comprehensive industrial system and Singapore's internationalized innovation ecosystem [2]. - The shift from "bilateral cooperation" to "tripartite cooperation" aims to explore flexible collaboration methods, targeting markets in ASEAN and Africa [2]. Group 2: Strategic Development - The recent approval of the "14th Five-Year Plan" by the Chinese Communist Party outlines strategic goals for China's development over the next five years, indicating a solid foundation for economic growth [3]. - China aims to enhance its openness, optimize the business environment, and treat domestic and foreign enterprises equally, addressing their reasonable concerns [3]. - Singapore is committed to expanding trade and investment with China, particularly in emerging sectors like digital and green economies, while strengthening multilateral collaboration [3]. Group 3: Business Perspectives - Business representatives from both countries expressed optimism about the economic cooperation benefiting regional development, with Singaporean companies planning to continue investing in China [3]. - There is a mutual desire to deepen collaboration in various sectors, including finance, investment, digital economy, green development, infrastructure, logistics, and healthcare [3].

Core Viewpoint - China's high-level opening up provides development opportunities for ASEAN countries, emphasizing cooperation and shared growth in international trade [1][2] Group 1: China's Role in Trade and Economic Cooperation - China has actively explored cooperation opportunities with global trade partners, including ASEAN, showcasing a commitment to a win-win cooperation philosophy [1] - Major exhibitions and forums hosted by China, such as the China-ASEAN Expo and the China International Import Expo, play a significant role in promoting global cooperation and attracting international participation [1] - These events offer ASEAN countries opportunities to access the Chinese market and understand the latest industrial trends in China, particularly in sectors like semiconductor manufacturing and digital services [1] Group 2: Impact on ASEAN Countries - The exhibition matrix established by China helps ASEAN officials, businesses, and scholars gain insights into China's development in relevant fields, facilitating cultural exchange and cooperation in education and tourism [2] - China's open stance in building communication platforms strengthens economic ties with ASEAN, aiding in the region's industrial upgrading and economic integration [2] - The bilateral relationship between ASEAN and China is expanding across broader scopes, higher levels, and deeper dimensions [2]

Report Summary Core View - The expectation of a September interest rate cut in the US is stable, and index futures are likely to fluctuate strongly [1] - On July 15, all four index futures contracts for the current month declined. IF dropped 0.12%, IH dropped 0.58%, IC dropped 0.12%, and IM dropped 0.44% [1] - On this trading day, the total trading volume of index futures rebounded, indicating increased trading enthusiasm among investors. Specifically, the total trading volume of IF increased by 44,249 lots, IH by 19,958 lots, IC by 34,305 lots, and IM by 77,808 lots. In terms of positions, the total positions of IF increased by 3,863 lots, IH by 1,424 lots, IC by 3,901 lots, and IM by 18,183 lots [1][2] Data Tracking Index Futures Data | Index | Closing Price | Change (%) | Basis | Turnover (Billion) | Volume | Change | Open Interest | Change | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | CSI 300 | 4,019.06 | ↑0.03 | | 353.52 | | | | | | IF2507 | 4,009.6 | ↓0.12 | -9.46 | 47.2 | 39,238 | ↑10,856 | 45,718 | ↓4,132 | | IF2508 | 3,993.2 | ↓0.18 | -25.86 | 13.81 | 11,529 | ↑4,578 | 19,935 | ↑4,198 | | IF2509 | 3,980.6 | ↓0.24 | -38.46 | 74.76 | 62,583 | ↑24,994 | 152,828 | ↑2,640 | | IF2512 | 3,948.6 | ↓0.25 | -70.46 | 12.97 | 10,947 | ↑3,821 | 48,850 | ↑1,157 | | SSE 50 | 2,747.23 | ↓0.38 | | 79.81 | | | | | | IH2507 | 2,740.2 | ↓0.58 | -7.03 | 15.73 | 19,124 | ↑4,764 | 22,777 | ↓1,830 | | IH2508 | 2,735 | ↓0.66 | -12.23 | 3.14 | 3,820 | ↑1,118 | 5,522 | ↑1,353 | | IH2509 | 2,734.2 | ↓0.64 | -13.03 | 28.14 | 34,281 | ↑12,504 | 58,202 | ↑1,546 | | IH2512 | 2,735.2 | ↓0.66 | -12.03 | 3.34 | 4,069 | ↑1,572 | 10,978 | ↑355 | | CSI 500 | 6,018.76 | ↓0.03 | | 246.08 | | | | | | IC2507 | 6,008.2 | ↓0.12 | -10.56 | 47.05 | 39,182 | ↑11,059 | 47,615 | ↓5,099 | | IC2508 | 5,949 | ↓0.21 | -69.76 | 14.63 | 12,301 | ↑2,863 | 27,145 | ↑4,805 | | IC2509 | 5,893.4 | ↓0.26 | -125.36 | 45.59 | 38,675 | ↑16,208 | 99,289 | ↑4,885 | | IC2512 | 5,770.4 | ↓0.22 | -248.36 | 12.18 | 10,553 | ↑4,175 | 57,153 | ↓690 | | CSI 1000 | 6,442.83 | ↓0.30 | | 347.38 | | | | | | IM2507 | 6,422 | ↓0.44 | -20.83 | 62.98 | 49,078 | ↑11,709 | 54,685 | ↓4,311 | | IM2508 | 6,352.8 | ↓0.46 | -90.03 | 22.9 | 18,041 | ↑7,303 | 31,298 | ↑8,958 | | IM2509 | 6,277.4 | ↓0.55 | -165.43 | 151.01 | 120,268 | ↑49,084 | 181,672 | ↑13,659 | | IM2512 | 6,099 | ↓0.52 | -343.83 | 28.3 | 23,203 | ↑9,712 | 77,129 | ↑2,067 | [1] Positions of the Top 20 Members in Futures | Contract | Long Position Change | Net Long Position Change | Short Position Change | Net Short Position Change | | --- | --- | --- | --- | --- | | IF2507 | -2,144 | | -3,380 | | | IF2508 | 3,343 | 4,266 | 3,708 | 2,495 | | IF2509 | 2,224 | | 1,362 | | | IF2512 | 843 | | 805 | | | IH2507 | -333 | 1,106 | -1,613 | | | IH2508 | Not announced | | Not announced | | | IH2509 | 1,282 | | 1,614 | 487 | | IH2512 | 157 | | 486 | | | IC2507 | -3,506 | | -3,980 | 1,971 | | IC2508 | 3,762 | 3,173 | 4,065 | | | IC2509 | 3,354 | | 2,862 | | | IC2512 | -437 | | -976 | | | IM2507 | -1,683 | | -2,516 | | | IM2508 | 5,802 | | 5,461 | | | IM2509 | 11,704 | 15,823 | 10,596 | 13,541 | | IM2512 | Not announced | | Not announced | | [5] Important Drivers - The 14th issue of Qiushi Journal published on July 16 will feature an important article by General Secretary Xi Jinping, emphasizing that China's policy of utilizing foreign investment remains unchanged [6] - The US June unadjusted CPI rose 2.7% year-on-year, the highest since February, in line with expectations. After seasonal adjustment, the CPI rose 0.3% month-on-month, also in line with expectations. The unadjusted core CPI rose 2.9% year-on-year, slightly lower than the expected 3.0%. After seasonal adjustment, the core CPI rose 0.2% month-on-month, lower than the expected 0.3% [6] - After the release of the US CPI report, traders continued to bet that the Fed may start cutting interest rates in September. The market pricing indicates that the probability of a September interest rate cut by the Fed remains around 60%. Traders still believe the probability of a rate cut this month is only 5% [6] - The Shanghai Composite Index closed down 0.42%, the Shenzhen Component Index rose 0.56%, and the ChiNext Index rose 1.73%. The trading volume of A-shares reached 1.64 trillion yuan, up from 1.48 trillion yuan the previous day. More than 4,000 stocks declined. CPO concept stocks strengthened collectively, with New Fiber Optic Communication Technology Co., Ltd. hitting the 20% daily limit and reaching a new all-time high. AI intelligent agent concept stocks showed late-day activity, and some real estate stocks rebounded. However, the photovoltaic industry chain, pharmaceutical stocks, and power stocks declined [6] Trend Intensity - The trend intensity of IF and IH is 1, and the trend intensity of IC and IM is 1. The trend intensity ranges from -2 to 2, with -2 indicating the most bearish and 2 indicating the most bullish [6]