· 国都港股操作导航 | 海外市场重要指数 | 收市 | 幅度 | | --- | --- | --- | | 道琼斯工业指数 | 48977.92 | -1.05 | | 标普 500 指数 | 6878.88 | -0.43 | | 纳斯达克综合指数 | 22668.21 | -0.92 | | 英国富时 100 指数 | 10910.55 | 0.59 | | 德国 DAX 指数 | 25284.26 | -0.02 | | 日经 225 指数 | 58850.27 | 0.16 | | 台湾加权指数 | 35414.49 | 0 | | 内地股市 | | | | 上证指数 | 4162.88 | 0.39 | | 深证成指 | 14495.09 | -0.06 | | 香港股市 | | | | 恒生指数 | 26630.54 | 0.95 | | 国企指数 | 8859.49 | 0.51 | | 红筹指数 | 4439.65 | 0.63 | | 恒生科技指数 | 5137.84 | 0.56 | | AH 股溢价指数 | 118.17 | -0.54 | | 恒生期货 (3 月) | 26465 ...

作者丨 杨娜娜 编辑丨姜诗蔷 图源：上海市基金同业公会 2月2日，上海地区公募基金迎来了极具分量的"开年第一会"。 当日，上海市基金同业公会理事会合规风控专业委员会2026年度第一次会议暨督察长联席会议 在上海召开。中国证监会、上海证监局相关处室负责同志，以及上海地区75家公募基金的总经 理或督察长出席会议。 上海市基金同业公会发文指出，与会代表围绕行业高质量发展、廉洁从业、基金销售行为规 范、投资纠偏的合理平衡、考核激励、公司治理、行业文化等议题充分交流，形成的多项共识 性意见，为行业规范发展提供了实操性参考。 这场会议的规格之高、议题之锐，远超以往。 多位与会公募人士向21世纪经济报道记者证 实，相较于2025年8月举办的督察长联席会议，本次会议不仅重申了合规底线， 更释放了多个 重磅信号，包括严禁未取得销售资质的网络大V开展基金引流活动，以及基金净值估算功能按 要求予以停止。 会议还对部分机构违规外泄监管通报行为提出严厉批评。有资深业内人士向记者表示，被泄露 内容或与此前"全面强化公募基金分红监管"的通报有关。该通报显示，部分基金公司存在利用 基金分红税收优惠政策协助机构投资者逃避税的行为。 可以看得出 ...

2026.02. 05 本文字数：1854，阅读时长大约4分钟 作者 | 第一财 经 祝嫣然 2025年，机械工业规模以上企业增加值同比增长8.2%，增速高于全国工业和制造业2.3和1.8个百分点。实现营业收入33.2万亿元，总量创新高。实现 利润总额1.7万亿元，增速由上年的下降转为增长，同比增长5.9%。 2月5日，中国机械工业联合会召开2025年全年机械工业经济运行形势信息发布会，发布了上述数据。 中国机械工业联合会副会长叶定达在发布会上表示，2025年机械工业经济运行呈高位趋缓、稳中有进态势，行业表现出向新、向优的特点。今年支撑行 业高质量发展的有利条件也在不断积累和增多，预计行业全年主要指标增速在5.5%左右。 2025年，机械工业规模以上企业实现营业收入33.2万亿元，总量创新高，同比增长6.0%，增速高于全国工业4.9个百分点；实现利润总额1.7万亿元， 增速由上年的下降转为增长，同比增长5.9%，增速较全国工业高5.3个百分点。营业收入和利润总额占全国工业的比重分别为23.9%和23.1%，较上年 同期分别提升1.1和1.2个百分点。 不过，叶定达谈到，受供需结构性矛盾影响、市场竞争激烈，机械 ...

机械工业应收账款持续快速增长，占营业收入、流动资产的比重上升。 不过，叶定达谈到，受供需结构性矛盾影响、市场竞争激烈，机械产品价格持续下行。行业利润率继续下滑，2025年机械工业营业收入利润率为 5.14%，较上年下滑0.04个百分点，低于同期全国工业0.17个百分点。化解行业供需结构性矛盾、综合治理"内卷"任务依然艰巨。 外贸方面，2025年面对严峻复杂的国际环境与外贸形势，机械工业顶住压力、有效应对，对外贸易实现较快增长，总额再创新高，展现出较强韧性。 全年机械工业完成货物贸易进出口总额1.27万亿美元，同比增长8.4%。 2025年，机械工业规模以上企业增加值同比增长8.2%，增速高于全国工业和制造业2.3和1.8个百分点。实现营业收入33.2万亿元，总量创新高。实现利 润总额1.7万亿元，增速由上年的下降转为增长，同比增长5.9%。 2月5日，中国机械工业联合会召开2025年全年机械工业经济运行形势信息发布会，发布了上述数据。 中国机械工业联合会副会长叶定达在发布会上表示，2025年机械工业经济运行呈高位趋缓、稳中有进态势，行业表现出向新、向优的特点。今年支撑 行业高质量发展的有利条件也在不断积累和增 ...

Group 1 - The core viewpoint of the article is the strategic cooperation between Zhejiang Food and Drug Inspection Research Institute and Hangzhou Hikvision Digital Technology Co., Ltd. to enhance the development of scientific instruments [1] Group 2 - The collaboration will focus on technological innovation, application validation, project cooperation, and achievement transformation in the field of scientific instruments [1] - The partnership aims to promote the improvement of independent research and development capabilities in scientific instruments and contribute to high-quality industry development [1]

Core Viewpoint - China General Nuclear Power Group (CGN) is strengthening collaborations with major power companies in nuclear energy, new energy, and technological innovation to promote high-quality development in the energy sector and contribute to the construction of a strong energy nation [2][4][6]. Group 1: Collaboration with China Huaneng - CGN's Chairman Yang Changli and General Manager Pang Songtao visited China Huaneng to discuss deepening cooperation in nuclear power projects, new energy, and digital control technologies [2]. - Yang expressed gratitude for China Huaneng's support and highlighted the successful collaboration on projects like Shidaowan Nuclear Power [2]. - Both parties aim to solidify existing cooperation and enhance collaboration in various fields to contribute to the energy sector's development [3]. Group 2: Collaboration with China Datang - CGN's leadership met with China Datang to discuss enhancing industrial cooperation, particularly in nuclear energy project operations and technological innovation [4]. - Yang congratulated China Datang on its achievements and emphasized the importance of their partnership, citing successful projects like Ningde Nuclear Power [4]. - The focus is on further collaboration in nuclear and new energy projects to support the construction of a strong energy nation [5]. Group 3: Collaboration with State Power Investment Corporation - CGN engaged in discussions with State Power Investment Corporation (SPIC) to reinforce cooperation in nuclear energy, new energy, and policy alignment [6]. - Yang acknowledged SPIC's ongoing support and highlighted the fruitful outcomes of their partnership [6]. - The goal is to deepen practical cooperation in energy projects to contribute to the construction of a strong energy nation and achieve high-level technological self-reliance [7].

Core Viewpoint - The newly revised Civil Aviation Law of the People's Republic of China, consisting of 16 chapters and 262 articles, will take effect on July 1, 2026, and aims to enhance flight safety, passenger rights, and industry development [1][3]. Group 1: Flight Safety and Management - The revision strengthens flight safety and operational safety through improved airworthiness management and the establishment of a dedicated chapter on civil aviation security [3]. - It optimizes the entry conditions for transport and general aviation enterprises and increases penalties for violations [3][4]. Group 2: Industry Development - The law supports the development of new business models in general aviation and low-altitude economy, simplifying approval processes and enhancing resource allocation [3][4]. - A new chapter on "Development Promotion" outlines policies to support the civil aviation manufacturing industry, key technology research, and international cooperation [3]. Group 3: Passenger Rights Protection - The law introduces a dedicated chapter on passenger rights protection, systematizing and legalizing previous regulations [4]. - It mandates airlines to improve transport contract terms, enhance personal information protection, and optimize processes for handling flight delays or cancellations [3][4]. Group 4: Regulatory Improvements - The law encourages innovative regulatory methods using big data and emphasizes strict penalties for actions that threaten aviation safety and passenger rights [3][4]. - It expands the types and scope of administrative penalties to enhance legal deterrence [3]. Group 5: Airport Management - The revision establishes a structured legal framework for airports, categorizing them into general provisions, transport airports, and general airports [7]. - It recognizes civil airports as public infrastructure and outlines responsibilities for various stakeholders in airport construction and operation [7].

Core Viewpoint - The 2026 financial regulatory work meeting emphasizes a comprehensive deployment of financial regulation, focusing on risk prevention, strong regulation, and promoting high-quality development to support the "14th Five-Year Plan" [1] Group 1: Risk Prevention and Resolution - The meeting prioritizes the effective resolution of risks in small and medium-sized financial institutions, aiming to manage existing risks and prevent new ones, particularly in the real estate sector [2][3] - A systematic approach will be adopted for risk prevention, focusing on high-risk institutions through coordinated efforts between central and local authorities [2][3] - The regulatory focus will shift from mere scale expansion to substantive risk control, enhancing classification and tiered regulation [3] Group 2: Promoting High-Quality Development - The meeting calls for improving the capacity for high-quality development in the financial sector, emphasizing the need for orderly competition and optimizing institutional layout [4] - The strategy of "reducing quantity and improving quality" will guide the restructuring of financial institutions, focusing on eliminating inefficient and high-risk entities [4][5] - Regulatory measures will target disordered competition, ensuring financial institutions concentrate on their core businesses and adhere to capital constraints [4][5] Group 3: Strengthening Financial Regulation - The meeting outlines the need to enhance and perfect financial regulation, focusing on substantive risks and improving the capacity for lawful regulation [6][7] - The "Golden Supervision Project" will be accelerated, marking a shift towards digital and intelligent regulation to improve risk identification and oversight capabilities [6][7] - The regulatory framework will evolve towards precision, differentiation, and collaboration, ensuring effective consumer protection and preventing cross-market risks [7] Group 4: Enhancing Financial Services for Economic and Social Quality - The meeting emphasizes the need to improve financial services for the economy, focusing on major strategies and sectors, including support for consumer demand and small enterprises [8][9] - Financial institutions will be encouraged to develop integrated financial solutions that link investments in physical assets with human capital [9][10] - Internal mechanisms will be optimized to enhance service delivery, particularly for technology-driven and small enterprises, through improved credit evaluation and risk management [10]

Core Viewpoint - The Financial Regulatory Administration held a meeting on January 15, 2026, emphasizing the need to enhance the industry's high-quality development capabilities [1] Group 1 - The meeting called for a comprehensive plan to steadily advance the reduction and quality improvement of small and medium-sized financial institutions [1] - There is a focus on rationally optimizing the layout of financial institutions [1] - The meeting highlighted the importance of addressing disorderly competition and continuously regulating industry order [1] Group 2 - Banks and insurance institutions are urged to concentrate on their main businesses and pursue differentiated development [1] - The meeting also promotes a high level of financial openness to the outside world [1]

Core Viewpoint - The Ministry of Finance and the State Taxation Administration announced adjustments to the export tax rebate policy for photovoltaic and battery products, effective from April 1, 2026, with a complete cancellation of the VAT export rebate for these products, indicating a shift towards a mature industry that no longer requires policy support [1][2]. Group 1: Policy Changes - From April 1, 2026, the VAT export rebate for photovoltaic products will be completely canceled, and the rebate rate for battery products will be reduced from 9% to 6% until December 31, 2026, after which it will also be canceled [1]. - The export tax rebate rates for certain products, including photovoltaic and battery products, were previously reduced from 13% to 9% starting December 1, 2024, reflecting a trend towards decreasing support for these mature industries [1][4]. Group 2: Industry Impact - The removal of the export tax rebate will increase export costs for companies, leading to market consolidation where less competitive firms may be eliminated, while leading companies with scale and technology will strengthen their market positions [3]. - The photovoltaic industry has seen a significant drop in export prices, with prices for photovoltaic modules falling over 60% from $0.24 per watt to $0.09 per watt, resulting in a 33% year-on-year decline in export value for 2024 [2][3]. Group 3: Economic Implications - The adjustment of export tax rebates is expected to redirect fiscal resources towards domestic demand and social welfare, addressing challenges such as insufficient effective demand and overcapacity in certain sectors [3]. - The policy changes are part of a broader strategy to optimize fiscal resource allocation, allowing for more targeted support in areas like consumer subsidies and employment assistance, which are crucial for stabilizing economic expectations [3][4].