刚刚闭幕的中央经济工作会议，为2026年经济发展明确了目标任务、统一了思想认识。会议明确提出要 引导金融机构加大对扩大内需、科技创新、中小微企业等重点领域的支持力度，为期货市场指明了服务 方向、提供了发展指引。华源期货深入学习贯彻会议精神，自觉将企业发展置于国家战略全局中谋划， 坚定不移践行金融工作的政治性和人民性要求，坚持以服务实体经济为根本宗旨，在新时代展现期货新 作为、贡献专业新力量。 一是坚守本源，服务区域经济发展大局。自2023年实控人变更为武汉金融控股集团以来，华源期货深入 贯彻落实上级决策部署，立足武汉、深耕湖北，充分发挥股东综合金融优势，聚焦服务区域性实体经 济。围绕武汉重点产业链和特色产业集群，创新构建"1+N"综合服务体系——以长江国贸集团为核心支 点，延伸服务至其上下游企业及本地重点产业客户，形成"以融促产、以产带融"的生态闭环。通过整合 期货、现货、保险、信贷等多元工具，为实体企业提供全方位、一站式的金融及衍生品解决方案，有效 帮助企业应对价格波动风险，稳定经营预期。 站在"十五五"规划实施的关键阶段，华源期货将深入学习贯彻中央经济工作会议精神，坚持以"服务实 体、合规经营、创新引领、 ...

Core Viewpoint - The launch of the Chengdu-Glasgow all-cargo flight route marks a significant step for the company in expanding its logistics capabilities and enhancing its presence in the European cargo market [1][3]. Group 1: Route and Logistics Expansion - The Chengdu-Glasgow all-cargo route is an important logistics channel connecting Southwest China with Northern England, effectively broadening the air cargo transport options between China and the UK [1]. - The route will operate four flights per week using the Airbus A330 freighter, providing direct access to Scotland and the Northwest of England, which helps to alleviate cargo volume congestion in central England [1]. - This new route facilitates the export of local Scottish products such as salmon and whisky to China, improving logistics efficiency and reducing overall transportation costs [1]. Group 2: Strategic Network Development - With the opening of the Glasgow route, the company has established a multi-directional network connecting Europe, North America, and the Middle East from its Chengdu hub [3]. - The current all-cargo routes from Chengdu cover major global cargo hubs including Frankfurt, Liege, Paris, Amsterdam, Chicago, and Dubai, enhancing the strategic function of Chengdu's air transport network [3]. - The company plans to continue optimizing its international route layout and strengthen cargo transport organization and service capabilities, contributing to the stability and security of supply chains [3].

Core Viewpoint - The company is actively advancing its "14th Five-Year Plan" in alignment with national and group strategies, focusing on enhancing international air cargo capacity and maintaining supply chain stability while reducing logistics costs [1] Group 1: Strategic Development - The company aims to become a comprehensive air logistics service provider, leveraging its role in the supply chain and industry [1] - The company plans to optimize its strategic market and resource allocation to enhance industry competitiveness and improve capital operation efficiency [1] Group 2: Regional Focus - The company is conducting in-depth research on regional economic development characteristics and air logistics industry demands, particularly in key areas such as the Yangtze River Delta, Guangdong-Hong Kong-Macao Greater Bay Area, Chengdu-Chongqing, and Beijing-Tianjin-Hebei [1] - The company intends to adjust its resource allocation and route network to meet diverse customer needs, moving away from a single operational focus at Shanghai Pudong [1] Group 3: Long-term Strategy - The company will focus on deepening its presence in the East China market, expanding in South China, and nurturing the Southwest market through differentiated positioning and network collaboration [1]

Group 1 - The core viewpoint of the news is that since the beginning of the 14th Five-Year Plan, over 4,000 national standards have been released in key industries such as integrated circuits, new materials, new energy vehicles, robotics, and aerospace equipment, playing a significant role in supporting the construction of a modern industrial system and ensuring the stability of key industrial and supply chains [1] - Nearly 20% of the total group standards focus on advanced manufacturing fields such as new generation information technology and high-end equipment manufacturing, providing important support for industrial upgrading and technological innovation [1] Group 2 - In the field of intelligent manufacturing, 491 national standards have been released, providing high-quality references for the digital and intelligent transformation of manufacturing enterprises [2] - In the new energy vehicle sector, 95 national standards have been published, which play an important role in enhancing collaboration across the automotive industry chain and improving production efficiency while reducing costs [2] - In the solar photovoltaic sector, 221 national standards have been established, actively contributing to preventing irrational competition and promoting high-quality development of the industry [2]

Core Insights - Jiangsu Province's Kunshan City is one of the first national pilot zones for promoting innovation in import trade, with a steady increase in import scale and optimization of structure [1] - The Kunshan bonded warehouse has enhanced its storage capacity and management level, with overseas direct import value exceeding 2.2 billion yuan in the first half of the year, representing a 21% year-on-year increase [1] - The local customs authority has established six public bonded warehouses in Kunshan, storing various products to effectively serve domestic production and promote deep integration of import trade and consumption [1] Group 1 - The Kunshan bonded warehouse's overseas direct import value reached over 2.2 billion yuan, with a year-on-year growth of 21% [1] - The warehouse is storing products such as integrated circuits, plastic materials, and coffee beans, contributing to the development of regional industries [1] - The total import and export value of Kunshan's supply chain company is expected to exceed 300 million yuan by the end of the year [1] Group 2 - Kunshan Customs has implemented a "no disturbance" regulatory model using real-time video streaming and data monitoring, resulting in a 92% year-on-year increase in domestic sales tax collection from bonded warehouses [2] - The bonded warehouses are evolving from traditional storage facilities to centers for logistics, after-sales service, and technology application, meeting the needs of the supply chain [2] - The customs authority is tailoring regulatory plans for bonded warehousing enterprises to support their expansion into domestic and international markets [2]

Core Insights - Over the past decade, China's economic security has been significantly strengthened, with a focus on enhancing the stability and security of industrial and supply chains [1] - Key core technologies are essential for transforming economic development dynamics and constructing a new development pattern, emphasizing the need for both "shortboard" and "longboard" strategies [1] - Self-innovation is crucial for acquiring key core technologies, as they cannot be bought or borrowed, highlighting the importance of research and breakthroughs by dedicated scientific teams [1] Capital Market Contributions - The multi-level capital market plays a vital role in empowering the pursuit of key core technologies, particularly through the Sci-Tech Innovation Board, which is concentrated on high-tech and strategic emerging industries [1] - The performance of the ChiNext board has also been notable, with significant growth in listed companies' performance and a pronounced clustering effect in sectors like electronics, biomedicine, and new energy [2] - In 2021, companies listed on the Beijing Stock Exchange demonstrated enhanced innovation-driven capabilities, with total R&D expenditures reaching 3.04 billion yuan and an R&D intensity of 4.7%, significantly above the average level of regulated enterprises [2]

Group 1 - The core viewpoint highlights the continuous growth and optimization of import trade in Kunshan, with a significant increase in direct imports through bonded warehouses [1][2] - In the first half of this year, the direct import value through Kunshan's bonded warehouses exceeded 2.2 billion yuan, marking a 21% year-on-year increase [1] - The establishment of six public bonded warehouses in Kunshan supports various products, including integrated circuits and coffee beans, enhancing domestic production and promoting the integration of import trade and consumption [1] Group 2 - Kunshan Customs has implemented advanced regulatory measures using technology, achieving a 92% year-on-year increase in tax revenue from bonded warehouses, amounting to 384 million yuan from January to July 2025 [2] - The bonded warehouses in Kunshan are evolving from traditional storage facilities to multifunctional centers that meet supply chain demands, serving as dispatch, after-sales service, and technology application centers [2] - The customs authority is committed to supporting bonded warehousing enterprises by customizing regulatory plans to help them expand their operations and access both domestic and international markets [2]

Group 1 - The General Administration of Customs emphasizes the need to prevent the entry of epidemics, diseases, and prohibited items into the country [1] - The Customs Director, Sun Meijun, conducted on-site inspections at various ports and cross-border e-commerce enterprises to assess the implementation of customs regulations and services [1] - There is a focus on innovating regulatory methods to address new challenges and establishing a comprehensive risk management mechanism to prevent localized risks from evolving into systemic risks [1] Group 2 - The customs authority aims to integrate regulation with service, providing tailored support for key enterprises and industries to ensure the stability of supply chains [1] - The emphasis is placed on the importance of safeguarding the security and stability of industrial and supply chains in the face of emerging challenges [1]

Group 1 - The third China International Supply Chain Promotion Expo (Chain Expo) concluded with 1,200 exhibitors and over 42,000 upstream and downstream enterprises establishing cooperation links, resulting in more than 6,000 signed cooperation agreements [2] - The event emphasized higher connectivity and collaboration among enterprises, focusing on finding partners and solutions in the context of global supply chain restructuring [2][3] - The expo highlighted the importance of supply chain stability, with industry leaders stressing that without it, product quality and competitiveness become irrelevant [3][4] Group 2 - Schneider Electric showcased its end-to-end green supply chain system, consisting of 30 factories and logistics centers in China, collaborating with over 1,600 local suppliers [5] - The digital transformation of global supply chains was a key theme, with companies like Inspur demonstrating their capabilities in cloud computing and AI to enhance supply chain efficiency [6][7] - The expo featured a new innovation chain area aimed at facilitating the transition of technological achievements from laboratories to production lines, promoting a comprehensive approach to supply chain security [7][8] Group 3 - The participation of global companies, including NVIDIA, underscored China's significant role in the global supply chain, with foreign exhibitors increasing from 26% in the first expo to 35% in the latest [9] - The event showcased China's complete industrial chain, which includes raw material procurement, manufacturing, sales, and after-sales service, positioning it as a vital player in the global supply chain [9][10] - Future opportunities and challenges for companies are closely tied to the global supply chain's transition towards resilience, digitization, and sustainability, with a focus on leveraging China's industrial advantages [10]