证券日报网讯 TCL科技（000100）8月22日在互动平台回答投资者提问时表示，公司目前业务是长周 期、高科技、重资产属性，也会考虑引入匹配的资金属性来发展。 ...

Core Viewpoint - The recent joint statement from the China-US Geneva economic talks on May 12 is seen as a potential turning point in easing tensions between the two nations, with significant tariff reductions announced [1][2]. Economic Rebalancing - The joint statement indicates a notable decrease in tariffs, with China reducing tariffs on US goods from 125% to 10% within the first 90 days, while the US will lower tariffs on Chinese goods to 30% [2][3]. - A 24% tariff will be suspended for 90 days, allowing for negotiations before July [3]. US Economic Context - The US has historically maintained high tariffs, averaging around 30%, which has been a part of its economic development strategy [3]. - The current economic situation suggests that the US cannot revert to pre-April 2 conditions, with markets anticipating fiscal easing from China and tax cuts from the US [3]. US Fiscal Pressure - As of March 2025, the US national debt is projected to reach approximately $36.6 trillion, with a significant portion of low-interest bonds maturing between 2025 and 2027, leading to increased interest payments [4]. - The US government is using tariff increases as a means to alleviate fiscal pressure, with potential tariff revenues significantly exceeding current levels [4][5]. Chinese Economic Strategy - China is focusing on boosting domestic consumption, particularly in the service sector, to counteract economic pressures [9]. - The first quarter of 2023 saw a GDP growth rate of 5.4%, driven by strong exports and a gradual recovery in consumption [9]. Key Economic Drivers for 2025 - The "Two New" and "Two Heavy" initiatives are identified as critical for China's economic development in 2025, focusing on equipment upgrades and major strategic projects [10][11]. - The expected policy support for these initiatives could reach around 3 trillion yuan, with investment multipliers anticipated to be higher than in 2024 [11]. Stimulus Measures - Six potential measures to stimulate the economy include expanding fertility subsidies, injecting capital into state-owned banks, increasing consumer subsidies, advancing supply-side reforms, issuing special government bonds, and raising rural pension levels [12][13][14][15][16]. Market Outlook - The equity market is expected to enter a "long-cycle, structural bull market," with monetary policy supporting the stock market while fiscal measures are necessary for economic recovery [16]. - The bond market may face risks in the second half of the year, with a potential upward trend in yields as economic conditions stabilize [16].