分析师：方堃 执业编号：S0300521050001 电话：010-83755575 邮箱：fangkun@ykzq.com 近期报告 《【粤开宏观】特朗普关税政策违法：背景、 后续及影响》2026-02-22 《【粤开宏观】2026 年地方政府怎么干— —下篇：任务怎么做？》2026-02-13 《【粤开宏观】2026 年地方政府怎么干— —上篇：目标怎么定？》2026-02-13 《【粤开宏观】透视 2026 物价新局：基期 轮换、体感差异与回升之路》2026-02-11 《【粤开宏观】从地方调研看宏观经济：市 场预期、收入分配与微观活力》2026-02-09 证券研究报告 | 宏观深度 宏观研究 【粤开宏观】1949-2025 年中国各省份 财政收入排名变迁 2026 年 03 月 02 日 分析师：罗志恒 执业编号：S0300520110001 电话：010-83755580 邮箱：luozhiheng@ykzq.com 摘要 近期，财政部及各地方财政厅（局）陆续发布了 2025 年财政收支及结构数据。 在财政货币政策发力稳经济、"反内卷"政策带动工业企业盈利改善、地方大 力盘活存量资源增收和强化征管 ...

孙道寻先后来到博众精工科技股份有限公司、吴江南玻华东工程玻璃有限公司。为抢抓新年发展先机，两家企业春节期间持续生产、不停歇，全力保障生 产有序推进。孙道寻深入企业生产车间，详细询问春节期间安全生产、员工福利落实等情况，并对企业主动抢抓发展机遇、坚守岗位保生产的做法给予充 分肯定。 2月17日，大年初一，区委副书记、区长孙道寻走访调研春节期间连续生产企业和部分农贸市场，向坚守岗位、辛勤工作的劳动者们致以新春的诚挚问候 和美好祝福，感谢大家在春节期间坚守一线，为全区经济社会平稳运行和高质量发展保驾护航。 孙道寻强调，农贸市场关系到群众"菜篮子""米袋子"，要严格落实食品安全主体责任，严把质量检测关口，确保群众吃上安全、新鲜、放心的食品；要精 准做好生活物资调配，保障供应充足、价格稳定，切实维护市场秩序；要持续优化市场服务，规范经营行为，全力守护好群众节日期间的基本生活需求。 副区长方勇参加走访。 11日 E HALL T reli 10 e New T III /a a . r . e 4 4 x . . l a 0 - 10 · . . : . . 20 · : . e . . 6 4 e y 0 6 in " ...

记者从中国铁路上海局集团有限公司获悉，金建高铁兰溪东至建德段（以下简称"金建高铁兰建 段"）于2026年2月14日开通运营。自此浙江省中部新增一条便捷快速通道，更好助力沿线人民群众出 行，特别是春运出行，推动区域经济社会高质量发展。 金建高铁起自金华市金东区，向北经兰溪市、建德市，在建德站接入杭昌高铁杭黄段，正线全长 64.51公里，设计时速250公里。沿线设金华、兰溪东、大洋、建德4座车站，其中兰溪东站和大洋站为 新建车站。金建高铁实行分段开通，此次开通的金建高铁兰建段全长约44公里，兰溪东、大洋2座新站 投入办理客运业务。 开通运营初期，每日开行图定动车组列车4列，分别为兰溪东至杭州西C3221/4次、杭州西至兰溪东 C3223/2次、兰溪东至上海虹桥C2401/4次、上海虹桥至兰溪东C2403/2次，均为跨线列车。兰溪东至大 洋、建德、杭州西、上海虹桥分别最快10分钟、22分钟、76分钟、2小时54分钟可达。运营过渡期后， 铁路部门将根据市场需求和客流变化，灵活动态调整列车开行方案，更好满足沿线人民群众出行需要。 项目建成开通后，建德市形成3座客运车站并立新格局，兰溪市迈入高铁时代，金华市实现县县通 高 ...

Core Viewpoint - Financial Street Property's revenue structure indicates stability, with property management services contributing 765 million yuan, accounting for 80.45% of total revenue [1] Group 1: Revenue Breakdown - The revenue from value-added services and catering services contributes 16.15% and 2.97% respectively, highlighting the company's diversified income sources [1] Group 2: Stock Performance - The stock price of Financial Street Property experienced a fluctuation range of 6.22% from February 6 to February 12, with a peak of 2.29 HKD on February 9 and a low of 2.15 HKD on February 10, closing at 2.25 HKD, unchanged from the previous week, and showing a year-to-date increase of 10.29% [2] - Technical indicators show a recent shift in the MACD histogram from positive to negative, while the KDJ indicator indicates a rebound from the oversold region [2] Group 3: Recent Events - During the "14th Five-Year Plan" period, Beijing's financial industry is expected to grow, with a projected 8.7% year-on-year increase in added value by 2025 and a total of 807 new domestic and foreign listed companies, which may indirectly benefit Financial Street Property through increased demand for commercial real estate [3] Group 4: Institutional Perspectives - Institutions have set a target average price of 2.34 HKD for Financial Street Property, indicating potential upside from the current stock price, with a stable dividend yield of 7.67% reported [4]

在包银高铁沿线，车站与列车的服务全面提质，细微之处的优化，恰是出行从"走得了"升级为"走得 好"的生动注脚。 西延高铁从黄土高原驶出，将革命圣地延安接入全国高铁网；包银高铁在塞北大地飞驰，实现了"八纵 八横"高铁网北京至兰州通道的全线贯通；合新高铁合泗段深入皖东腹地，如同一条纵贯江淮大地的新 动脉，将发展动能输送至县域经济……随着2026年春运启幕，近期投运的多条新线迎来首场"春运大 考"。 这些新线如同注入国家交通动脉的新鲜血液，不仅大幅压缩了时空距离、拓展了人们的生活半径，也正 在重新勾勒区域经济发展的新版图。 春运伊始，记者探访西延高铁、包银高铁和合新高铁合泗段这三条新线，于飞驰的列车与繁忙的车站 间，触摸这场交通变革背后时代发展的鲜活脉搏。 最直观的变化，就藏在一个个具体的归家时刻里。2月2日春运首日，在西安工作的王兴强带着给父母准 备的年货，踏上回延安老家过年的旅程。"往年回家可是件折腾事，要么坐两个多小时的火车，要么冒 着堵车风险坐长途大巴。"今年，他选择坐西延高铁，"全程才一小时出头，太省时间了。" "2026年一季度调图以后，旅客从延安可以乘坐高铁直达郑州、北京、上海等13个省会城市和直辖 市 ...

来源：新华网 新华社北京2月7日电 题：多条高铁首迎春运：缩短的是归途 加速的是发展 新华社记者付瑞霞、李志鹏、胡锐 西延高铁从黄土高原驶出，将革命圣地延安接入全国高铁网；包银高铁在塞北大地飞驰，实现了"八纵八横"高铁网北京至兰州通道的全线贯通； 合新高铁合泗段深入皖东腹地，如同一条纵贯江淮大地的新动脉，将发展动能输送至县域经济……随着2026年春运启幕，近期投运的多条新线迎 来首场"春运大考"。 这些新线如同注入国家交通动脉的新鲜血液，不仅大幅压缩了时空距离、拓展了人们的生活半径，也正在重新勾勒区域经济发展的新版图。 春运伊始，记者探访西延高铁、包银高铁和合新高铁合泗段这三条新线，于飞驰的列车与繁忙的车站间，触摸这场交通变革背后时代发展的鲜活 脉搏。 在包头站，这种温暖化成了具体场景：售票厅里专为老年旅客设立了银发服务窗口，让服务"慢"下来；全新升级的哺乳室和候车大厅内专门设置 的儿童游乐角，照顾着旅客最细微的需求；由"服务明星"和业务骨干组成的"临时妈妈"团，则在旅客需要时伸出援手，提供儿童临时陪玩看护、 协助更换纸尿裤等服务。 75岁的旅客张补鱼带着3个孩子从包头站乘车，工作人员见状主动上前引导。"我带 ...

Economic Overview - As of February 5, 2025, all economic data for 21 cities in Guangdong has been released, with Shenzhen leading the province with a GDP of 3.87 trillion yuan [2] - The overall GDP growth rate for the province is 3.9%, with ten cities exceeding this rate, including Meizhou at 5.8%, Shenzhen at 5.5%, and Chaozhou at 4.7% [4] Industrial Growth - Zhanjiang leads the province in industrial added value growth at 10.7%, with Huizhou and Meizhou both at 8.6% [5] - Zhanjiang's industrial sector contributes over 40% to its economic growth, with significant increases in various industries, including a 64.5% growth in communication equipment and a 46.9% growth in printing and media replication [7] - Meizhou's industrial added value growth is 8.6%, with notable increases in non-ferrous metal smelting and processing at 114.2% and electronics manufacturing at 20.9% [8] Investment Trends - Investment in industrial upgrades in cities like Yangjiang, Chaozhou, and Meizhou has exceeded 20%, driven by large-scale equipment renewal policies [10] - Shenzhen's investment in key industries such as information technology services and scientific research has seen significant growth, with increases of 88.3% and 67.7% respectively [12] Trade and Export Performance - Shenzhen's total import and export volume reached a record high of 4.55 trillion yuan, with exports at 2.74 trillion yuan, marking an 8% increase [15] - Zhaoqing leads the province in export growth at 21.1%, with a total trade volume of 46.28 billion yuan [17] - Guangzhou's import and export volume surpassed 1.2 trillion yuan, with exports growing by 17.8%, particularly in electric vehicles and photovoltaic products [18] Agricultural Production - Agricultural production remains strong, with cities like Maoming and Zhanjiang exceeding 110 billion yuan in total agricultural output [19] - Zhuhai's agricultural output grew by 6.6%, leading the province, particularly in fisheries [21]

Core Viewpoint - The economic performance of Xuzhou is under scrutiny as it aims to achieve a GDP of 995.72 billion yuan by 2025, reflecting a growth of 5.8% from the previous year, positioning it as a potential candidate for becoming a "trillion-yuan city" [1][3]. Economic Performance - Xuzhou's GDP target for 2025 is set at 995.72 billion yuan, with a growth rate of 5.8% year-on-year [1]. - The city is among the top candidates for the "trillion-yuan city" status, alongside Wenzhou and Dalian, which have GDPs of 971.88 billion yuan and 953.71 billion yuan respectively [1][3]. Regional Significance - If Xuzhou achieves this status, it will be the first "trillion-yuan city" in the Su Bei region and the Huaihai Economic Zone, significantly impacting regional economic development [3]. - The potential upgrade of Xuzhou would contribute to Jiangsu's sixth "trillion-yuan city," enhancing its competitiveness against Guangdong in the race for the title of "China's economic powerhouse" [4]. National Context - The total number of "trillion-yuan cities" in China could reach 30 if Xuzhou qualifies, reflecting a national trend of economic growth and urban development [5]. - The anticipation surrounding Xuzhou's potential upgrade highlights a cultural significance associated with reaching "round numbers" in economic milestones [5]. Development Overview - Xuzhou's recent development is notable, with strategic advantages in transportation and a rich historical and cultural background that supports its tourism economy [7]. - The city is focusing on cultivating "343" innovative industrial clusters, aiming to enhance sectors such as engineering machinery, green low-carbon energy, and digital economy, with expectations of reaching a total scale of 850 billion yuan by 2025 [7].

背景链接：安盘高速属国家高速公路网，是贵州西部进入云南、连接东南亚的横向公路交通大通道，线路全长133.71公里，建成后将加密西部交通网，带 动沿线旅游资源开发和沿线乡镇乡村振兴，对于促进区域经济发展、加强区域间的交流与合作具有重要意义。 一审：雅 文 二审：徐妙甜 1月27日，贵州高速集团PPP项目沪昆高速公路安顺至盘州(黔滇界)段扩容高速工程(简称"安盘高速")画廊特大桥右幅贯通，至此，该桥梁实现双幅贯通， 标志着安盘高速建设取得突破性进展。 画廊特大桥是安盘高速全线核心关键控制性工程，位于贵州省盘州市淤泥乡联合村，桥梁全长2774米，最大墩高80.5米，施工体量大、技术要求高。 三审：冀 佳 ...

过去一年，中国区域经济格局呈现令人振奋的新气象。山东不负众望，GDP成功跨上十万亿台阶，成为 北方地区首个迈入 "十万亿俱乐部" 的省份。同时，多个城市成功跻身万亿城市行列，为区域转型升级 提供了生动范例。 地方两会不仅是经济发展的 "风向标"，更是民生改善的 "承诺书"。细数各地政府工作报告，在拼经济 的主线上，消费与投资持续发力，产业部署，诠释着 "发展为了人民" 的深刻内涵。 新征程已开启，新目标已明确。全国各地正以自身的探索与实践，拼出一幅活力涌动、协调共进、人民 幸福的发展宏图。 近期，随着地方两会陆续开幕，各地2025年的成绩单与2026年的发展规划逐渐清晰。 人口 来 it in is 中国经济周刊 China Economic Weekly untifie UKGDP超十万7 71022 Night S @ iiiii 4 € KCHO NOKED CERRO: 2-077 RVD: 23.00 CHICH Creakerwealdy.co ...