中证报中证网讯（记者 刘英杰）日前，世纪证券研究所首席宏观分析师冯乐宁在接受中国证券报记者 采访时表示，海南自由贸易港正式实施全岛封关运作，标志着我国对外开放进入全新阶段。 首先，依托跨境资管试点拓展私募业务。符合条件的券商可发起设立投资境外标准化资产的私募资管计 划，与侧重另类投资的QDLP形成互补，构建覆盖多风险层级的跨境产品体系。 其次，借力"双Q"制度深化跨境投资。具备资质的券商子公司可通过申请QFLP资格引入境外长期资本 投资境内新兴产业，或通过QDLP募集境内资金布局全球多元资产，发挥集团研究、直投、资管协同优 势，提供全流程服务。 再次，构建多元化融资平台。券商可为企业提供涵盖A股IPO、境外发债、资产证券化及公募REITs在内 的综合融资解决方案，满足封关后持续释放的多层次融资需求。 最后，打造跨境并购综合服务中枢。围绕海南企业"走出去"与境外企业"走进来"的双向并购需求，提供 全流程财务顾问服务，并利用EF账户与专项基金优化跨境资金路径。 为推动海南跨境金融高质量发展，冯乐宁表示，后续应依托EF账户探索对中小微高新技术企业的跨境 投融资便利化安排，深化具有离岸特征的业务功能；打造离岸人民币债 ...

Group 1 - Xi Jinping emphasized the need for sustained macro policy efforts and timely enhancements in the second half of the year, focusing on stabilizing employment, enterprises, and market expectations while boosting consumption and promoting domestic circulation [1] - The Political Bureau meeting highlighted the importance of implementing a more proactive fiscal policy and moderately easing monetary policy to fully unleash policy effects, with a focus on expanding domestic demand and promoting consumption [2] - The meeting outlined five key strategies, including monetary easing, promoting consumption, advancing reforms, expanding openness, and risk prevention, with a specific mention of stabilizing the capital market [3] Group 2 - The State Council announced a budget of approximately 90 billion yuan for a new childcare subsidy program, which is expected to stimulate consumer spending and support optional consumption [6] - The average interest rate for newly issued commercial personal housing loans in the second quarter of 2025 was reported at 3.09%, a slight decrease from 3.11% in the first quarter [9] - The China Coking Industry Association announced a price increase for various types of coke starting July 31, aimed at improving the industry's profitability [10] Group 3 - The People's Bank of China reported significant growth in cross-border financial activities in Hainan, with the establishment of 273 new EF accounts and a total business volume of approximately 917.97 billion yuan [14] - The film "Nanjing Photo Studio" achieved over 700 million yuan in box office revenue, ranking among the top five films of 2025 [15] - The successful launch of low-orbit satellites for satellite internet in China marks a significant advancement in the industry [16] Group 4 - Companies such as XGIMI Technology reported a projected net profit increase of over 20 times for the first half of the year, indicating strong performance [18] - Jinhe Biology and Changjiang Electric Power also reported substantial net profit growth for the first half of the year, with increases of 51.52% and 14.22% respectively [18] - However, companies like Zhongwang Software faced legal challenges, highlighting potential risks in the industry [18]

Group 1 - The core viewpoint is that Hainan Free Trade Port is expanding its cross-border financial services, achieving significant growth in cross-border trade and asset management [1][2] - In the first half of the year, Hainan added 273 multi-functional free trade accounts (EF accounts), an increase of 115 compared to the previous year, with a total transaction volume of RMB 917.97 billion, up by RMB 256.9 billion year-on-year [1] - Cross-border fund transfers amounted to RMB 673.39 billion for first-line transfers and RMB 244.58 billion for second-line transfers, with transactions occurring with 57 countries and regions including Singapore and Hong Kong [1] Group 2 - The pilot program for high-level opening of cross-border trade investment is progressing steadily, with a total of USD 402.2 billion in current account pilot business benefiting 179 quality enterprises, and approximately USD 24.7 billion in capital account pilot business benefiting 89 quality enterprises [1] - The first domestic enterprise overseas listing registration business handled by a bank in Hainan Free Trade Port has been successfully implemented [1] - The implementation details for the cross-border asset management pilot business have been issued, supporting foreign investors in investing in financial products issued by financial institutions within Hainan Free Trade Port [2]