此次公示时间截至8月18日，国家医保局将根据公示期间收到的反馈意见，对有关药品信息进行复 核，确定最终通过形式审查的药品名单并向社会公布。 值得注意的是，今年目录调整中增设了商保创新药目录，与基本医保目录同步申报。商保创新药目 录申报信息共涉及药品通用名141个，经初步审核，121个药品通过形式审查。 据国家医保局有关负责人介绍，有些药品同时申报了基本医保目录和商保创新药目录，但因两者申 报条件不完全一致，所以会出现基本医保目录和商保创新药目录形式审查结果不一致的情况。 据介绍，有一些价格较为昂贵、明显超出基本医保保障范围的药品通过了基本医保目录初步形式审 查，仅表示该药品符合申报条件，获得了进入下一个环节的资格。这类药品最终能否进入基本医保目 录，还需要经严格评审程序，通过专家评审的独家药品谈判成功、非独家药品竞价成功才能最终纳入目 录。 新华社北京8月12日电（记者彭韵佳、徐鹏航）国家医保局12日对2025年国家医保药品目录初步形 式审查结果进行公示，534个药品通过形式审查。申报药品数量超过2024年。 医保药品目录调整分为企业申报、形式审查、专家评审、谈判竞价和价格协商等环节。其中，形式 审查是对申报 ...

Group 1 - The National Medical Insurance Administration has officially launched the adjustment of the national basic medical insurance, maternity insurance, and work-related injury insurance drug catalog, as well as the commercial health insurance innovative drug catalog, starting from July 11, 2023 [1] - The newly added commercial health insurance innovative drug catalog focuses on high innovation, significant clinical value, and substantial patient benefits, which cannot be included in the basic catalog due to exceeding the "basic insurance" scope [1][4] - The adjustment aims to enhance the multi-tiered medication security system, better meet the diverse medication needs of the public, and provide stronger economic support for the development of innovative drugs [1][4] Group 2 - The adjustment criteria for traditional Chinese medicine (TCM) have been clarified, allowing eligible TCM decoction pieces to be included in the adjustment scope [2] - Specific conditions for TCM drugs to be included in the basic catalog include those approved by the National Medical Products Administration between January 1, 2020, and June 30, 2025, and those with significant changes in indications or functions [2][3] - The adjustment will also consider removing TCM drugs from the basic catalog if they have not supplied the market as agreed or have no transaction volume on the national medical insurance information platform [3] Group 3 - The commercial health insurance innovative drug catalog will be submitted and adjusted simultaneously with the medical insurance catalog, reducing the administrative burden on pharmaceutical companies [4][5] - The establishment of the commercial health insurance innovative drug catalog is intended to clarify the boundaries of basic medical insurance coverage and provide more development space for commercial health insurance [4] - The National Medical Insurance Administration will ensure the connection between the medical insurance drug catalog and the commercial health insurance innovative drug catalog, providing stable outlets for innovative drugs [5]

Report Investment Rating The document does not mention the industry investment rating. Core Viewpoints The report provides a comprehensive overview of the overnight market trends, important macro - economic news, and developments in various financial sectors including futures, stocks, bonds, and foreign exchange. It also presents data on different industries such as manufacturing, real estate, and energy, along with policy updates and market expectations. Summary by Category Overnight Market Trends - International precious metal futures generally rose, with COMEX gold futures up 1.28% at $3349.90 per ounce and COMEX silver futures up 0.20% at $36.25 per ounce [2][46] - International oil prices strengthened slightly, with the US oil main contract up 0.65% at $65.53 per barrel and Brent crude main contract up 0.69% at $67.20 per barrel [3][46] - Most London base metals declined, except LME copper which rose 0.75% to $9943.00 per ton [4][46] - Most CBOT agricultural product futures rose, with wheat up 2.14% and soybeans up 0.05%, while corn fell 0.86% [4] - Domestic futures were mixed, with caustic soda up over 2% and rebar up nearly 1%, while sugar, PX, and PTA fell over 1% [4] Macro - economic News - Trump's trade officials are seeking smaller - scale trade deals to avoid tariff re - imposition [6] - The Caixin China Manufacturing PMI in June was 50.4, up 2.1 points from May and back above the critical point [6] - China will promote the construction of a unified national market and address low - price disorderly competition [6] - China's heavy - truck sales in June were about 92,000, up 4% from May and 29% from last year [6] - Trump doubts a trade deal with Japan by July 9 [7] - Fed Chair Powell leaves the door open for July rate - cut decision [7][15][37] Energy and Chemical Futures - Domestic airlines will raise fuel surcharges from July 5 [10] - China raised domestic gasoline and diesel prices on July 1 [10][30] - Some domestic photovoltaic glass manufacturers plan to cut production in July [10] Metal Futures - China's electrolytic copper production in June decreased 0.3% month - on - month but increased 12.93% year - on - year, and is expected to rise in July [12] - HSBC raised its 2026 gold price forecast to $3125 per ounce [13] Black - series Futures - China's 47 - port imported iron ore inventory decreased by 28.74 tons on July 1 compared to the previous Monday [17] - Australian and Brazilian major port iron ore inventory decreased slightly in late June [17] Agricultural Product Futures - China's major oil mills' soybean crushing and bean - meal output are expected to remain high in July, and bean - meal inventory may rise [19] - Malaysia's palm oil production decreased in June [19] - China's national soybean, corn, and palm oil export and production forecasts are updated [22] - ICE raw sugar July contract delivery volume was the lowest since 2014 [23] - US soybean crushing and soybean oil production increased in May [23] Financial Markets Stocks - A - shares showed a mixed trend on Tuesday, with the Shanghai Composite Index up 0.39% [25] - Hong Kong stocks were closed on Tuesday [26] - Northeast Securities' gold - stock portfolio led with a 45.45% return in H1 [27] - IPO acceptance reached a peak in June, with the Beijing Stock Exchange leading [28] - Heyuan Biotech's IPO application was approved on the Science and Technology Innovation Board [28] - Analysts are optimistic about A - shares' medium - to - long - term prospects and the continuation of the Hong Kong IPO boom [29] International Stocks - US stocks closed mixed, with the Dow up 0.91% and the S&P 500 down 0.11% [43] - European stocks also closed mixed, with the German DAX down 0.99% and the UK FTSE 100 up 0.28% [43] - The S&P 500 is expected to rise in July but may weaken in August [45] - Hedge funds made large net purchases of US bank stocks last week [45] Bonds - Local government bond issuance increased by about 57.2% in H1 compared to the same period in 2024 [48] - The domestic bond market was generally positive, with most yields of major interest - rate bonds in the inter - bank market falling [49] - US Treasury yields mostly rose, affected by employment and manufacturing data [49] - Japan's 10 - year government bond auction was relatively strong [50] Foreign Exchange - The on - shore RMB against the US dollar rose on Tuesday [51] - The euro - dollar exchange rate is a concern for policymakers if it breaks above 1.2 [51] - The US dollar index fell 0.13% on Tuesday [53] Industry News - New energy vehicle sales in June showed a mixed performance, with some brands hitting new highs and others declining [32] - China's National Healthcare Security Administration is adjusting the medical insurance drug catalog and supporting innovative drugs [32] - China's film box office and attendance increased in H1 2025 [33] - Real estate investment by top 100 developers increased in H1, and Beijing's second - hand housing transactions rose [33][34] - Shanghai will subsidize the replacement of old electric bicycles [35] International News - Trump is tough on trade negotiations with Japan and the EU [37] - The EU and the US are in the final stage of trade - deal negotiations [37] - Eurozone inflation reached the ECB's target in June, and the ECB may slow down rate - cuts [37][39] - US manufacturing PMI improved but remained in contraction in June [38] - US job openings increased in May [39] - South Korea may tax dividend income separately [41] - Argentina will appeal a court ruling on its national oil company [42]