Group 1: Core Mission and Institutional Innovation - The China (Shanghai) Pilot Free Trade Zone Lingang New Area has focused on open innovation as its core mission, accelerating the formation of special economic functions over the past six years [1][2] - The area has established a system of institutional innovation with "five freedoms and one convenience" as its core, resulting in 166 institutional innovation cases, including 79 national firsts [2][3] - The Lingang New Area has implemented a new customs supervision system in the Yangshan Special Comprehensive Bonded Zone, enhancing trade facilitation and efficiency [2] Group 2: Industry Development and Competitive Advantage - The Lingang New Area aims to build an open industrial system with international market competitiveness, supporting multinational companies in establishing offshore R&D and manufacturing centers [4] - The area has attracted world-class enterprises and is focusing on key sectors such as core chips and advanced equipment, leading to an upgrade in industrial capabilities [4][5] - Companies like Lenz Group and Panshi Group have established significant operations in Lingang, contributing to local industrial upgrades and innovation [5][6] Group 3: Financial Innovation and Development - The Lingang New Area is positioning itself as the "third pole" of Shanghai's international financial center, focusing on cross-border finance, fintech, and offshore trade [7][8] - A pilot program for offshore trade financial services has been launched, significantly improving settlement efficiency from days to seconds [8][9] - The area aims to explore and establish a financial ecosystem that aligns with international rules, enhancing Shanghai's influence in global trade rule-making [8][9]

2019年8月20日揭牌成立的中国（上海）自由贸易试验区临港新片区已满六周岁。 临港新片区内的洋山特殊综合保税区，是我国海关特殊监管区中唯一的特殊综合保税区。在这里，上海海关围绕高标准贸易自由化便利化要求，系统性重塑了海关 监管作业流程，首创"一线径予放行、二线单侧申报、区内不设海关账册"的监管新体系。 在该项制度创新的推动下，一艘满载量为5000辆汽车的滚装船通关时间能节省约一天半，由此带动汽车进出口通关效率提升50%以上。随着从"船等车"变为"车等 船"，今年上半年，上海南港外贸进出口车辆达29.3万辆，同比增长32.58%。 安永中国经济咨询业务合伙人余泠在接受证券时报记者采访时表示，通过构建"五自由一便利"开放型制度体系，特别是洋山特殊综合保税区的机制 ，临港新片区突 破上位法，实现了一系列制度创新，为我国对接高标准国际经贸协定承担了风险压力测试。 "例如，临港新片区承担创建《数字经济伙伴关系协定》（DEPA）合作先行区任务，在探索数据跨境流动分级分类制度的基础上，发布全国首批数据跨境场景化一 般数据清单，涵盖智能网联汽车等3个领域11个场景，今年又推出数据出境管理负面清单和操作指引，精准到字段级的数 ...

Group 1: Research Views - The performance of Chinese assets has been strong since June, with both stocks and bonds rising, pricing in possible policy changes in June. The views on stock index futures and treasury bond futures are both "volatile" [1] - For stock index futures, there are three main factors affecting the market: Sino-US communication may help resolve trade disputes; long - term consumption stimulus policies are attracting attention; and the upcoming Lujiazui Forum may bring news on capital market reform. The PPI data shows low inflation, and the market style may still favor consumption and technology. In Q1, the decline in the revenue growth rate of A - share listed companies has narrowed for three consecutive quarters, net profit has increased by about 4% year - on - year, but ROE is still at the bottoming stage [1] - For treasury bond futures, on June 18, the 30 - year main contract rose 0.09%, the 10 - year and 5 - year main contracts fell 0.01%, and the 2 - year main contract rose 0.01%. After the cross - month, the liquidity has eased marginally. In June, the bond market is unlikely to have a trending market and shows a sideways volatile pattern [1] Group 2: Daily Price Changes - For stock index futures on June 18, IH was at 2,677.4 (down 0.13% from the previous day), IF was at 3,872.2 (up 0.09%), IC was at 5,738.0 (down 0.18%), and IM was at 6,124.2 (down 0.09%) [2] - For stock indices on June 18, the Shanghai Composite 50 was at 2,679.9 (down 0.15% from the previous day), the CSI 300 was at 3,875.0 (up 0.12%), the CSI 500 was at 5,745.9 (down 0.09%), and the CSI 1000 was at 6,135.4 (down 0.10%) [2] - For treasury bond futures on June 18, TS was at 102.54 (unchanged), TF was at 106.28 (down 0.02%), T was at 109.14 (down 0.02%), and TL was at 120.90 (up 0.07%) [2] Group 3: Market News - At the 2025 Lujiazui Forum, the governor of the People's Bank of China announced eight major financial policies, including setting up an inter - bank market transaction reporting library, a digital RMB international operation center, and a personal credit investigation agency; carrying out a comprehensive reform pilot of offshore trade financial services in the Lingang New Area of Shanghai; developing free - trade offshore bonds; optimizing and upgrading the functions of free - trade accounts; innovating structural monetary policy tools in Shanghai; and promoting RMB foreign exchange futures trading [4][5] Group 4: Chart Analysis - **Stock Index Futures**: The report provides charts of the trends of IH, IF, IM, and IC main contracts, as well as the basis trends of corresponding contracts [6][7][8] - **Treasury Bond Futures**: Charts include the trends of treasury bond futures main contracts, treasury bond spot yields, basis, inter - period spreads, cross - variety spreads, and funding rates [12][13][17] - **Exchange Rates**: Charts show the central parity rates of the US dollar, euro against the RMB, forward exchange rates, the US dollar index, euro - US dollar exchange rate, pound - US dollar exchange rate, and US dollar - yen exchange rate [19][20][24]