Group 1: Historical Artifacts and Medical Practices - The discovery of the "Jingmai Qiren" (Meridian Lacquer Figure) in the Han Dynasty tomb highlights the historical significance of acupuncture and meridian theory in traditional Chinese medicine [1][2] - The "Jingmai Qiren" is believed to be an ancient teaching tool for medical students, indicating that the use of human models for acupuncture training dates back over a thousand years [3] - The "Wei Wu Wang Chang Suo Wei Xiang Shi" stone pillow found in Cao Cao's tomb serves as evidence of ancient medical practices, specifically for treating headaches through heat therapy [4][5] Group 2: Surgical Instruments and Techniques - The "Xia Qian Surgical Instruments" from the Ming Dynasty represent the most complete set of ancient surgical tools discovered in China, challenging the perception that traditional Chinese medicine focused solely on herbal remedies [7][8] - The surgical instruments include various types of scalpels and tools that demonstrate advanced design and functionality, similar to modern surgical practices [7][8] - The presence of complete surgical kits indicates that by the Ming Dynasty, traditional Chinese medicine had developed systematic tools and operational standards for surgical procedures [8]

Core Insights - The article highlights the significant impact of night economy initiatives across various regions in China, showcasing how cultural integration and innovative projects are driving consumer engagement and economic growth [1][3][5]. Night Economy + Traditional Culture - In Longting County, Fujian, the "Ting Water Three Thousand" project, with a total investment of 103 million yuan, integrates the local Hakka culture with night tourism along the Ting River, enhancing the cultural tourism market [3]. - In Xun County, Henan, traditional folk performances have become a highlight of the night scene, attracting numerous visitors and boosting local tourism [5][6]. - Xun County's night economy is thriving, with night-time consumption accounting for over 80% of total daily spending, following the designation as a national-level night cultural and tourism consumption aggregation area [6]. Night Economy + Unique Markets - The "Yidexi" night market in Inner Mongolia features local intangible cultural heritage foods and products, attracting tourists and energizing the local night economy [8]. - In Baiyin, Gansu, a traditional Chinese medicine night market has been established, addressing the health needs of working individuals by offering services like acupuncture and cupping during evening hours [10]. - Nanchang, Jiangxi, has introduced "Qihuang Night Market," blending traditional Chinese medicine with modern trends, appealing to younger consumers and promoting economic growth through cultural experiences [13]. Night Economy + Performance Activities - Chongqing has implemented regular drone light shows, enhancing the city's night-time appeal and stimulating local consumption [16]. - The "Unnight Chongqing Life Festival" features over 150 recommended spots for visitors, creating a vibrant summer experience [18]. - Kaifeng, Henan, has launched a series of night-themed activities that leverage its rich cultural heritage, resulting in a 230% increase in visitor numbers compared to the previous year [20][22].

Core Viewpoint - The 2025 Huaiyuan County Summer Cultural and Technology Market aims to enhance cultural and technological experiences for citizens and tourists, promoting a vibrant summer consumption atmosphere [1][4]. Group 1: Event Overview - The event features a variety of performances including non-heritage shows, national trend performances, instrumental music, and technology magic shows, creating a lively atmosphere for attendees [2]. - Extended opening hours for cultural and technology venues allow for increased engagement and enjoyment among visitors [2]. Group 2: Community Engagement - Local citizens express positive feedback about the event, highlighting the diverse programs and the opportunity to experience local culture and heritage [3]. - The non-heritage market showcases various traditional crafts and foods, enhancing public awareness and appreciation of local cultural heritage [3]. Group 3: Economic Impact - The market includes 96 exhibitors from various sectors such as digital appliances, non-heritage projects, daily necessities, and agricultural products, stimulating local economic growth [3]. - The integration of cultural, commercial, and tourism elements aims to create a comprehensive summer experience, contributing to the revitalization of Huaiyuan's cultural tourism consumption [4].

Core Viewpoint - The surge in IPOs within the healthcare sector is driven by policy incentives and the urgent need for innovation and capital breakthroughs, with survival being the ultimate goal rather than just financing [1][18]. Group 1: Market Overview - In 2025, the Hong Kong IPO market is experiencing a strong recovery, with the healthcare sector emerging as the most active fundraising avenue due to its attributes of "innovative research + consumer upgrades + technological integration" [1][3]. - Over 60 healthcare companies have applied for or listed in Hong Kong and A-shares, marking a historical high with 67 companies in total within just six months [2][3]. Group 2: Policy Incentives - The 18A and 18C regulations allow unprofitable biotech and specialized technology companies to list, providing a fast-track for innovative firms [4][19]. - The reactivation of the fifth set of standards on the Sci-Tech Innovation Board has significant implications for future healthcare IPOs, with the first successful company being He Yuan Biotechnology [4]. Group 3: Sector-Specific Insights - **Innovative Drugs**: This sector is the primary beneficiary of the 18A policy, with companies like Heng Rui Medicine leading the market. The listing of companies such as Ying En Biotechnology and Yao Jie An Kang has seen significant first-day gains [5][6]. - **Traditional Chinese Medicine**: Companies like Tong Ren Tang and Xin He Hua are leveraging the modernization trend in traditional medicine to expand their capital channels [7][8]. - **Internet Healthcare**: Companies like Wei Yi and Wei Mai are positioned to become leaders in the digital healthcare space, although they face challenges in monetizing their services [9][10]. - **Insurance Technology**: Firms like Shou Hui Technology and Yuan Bao Technology are capitalizing on innovative insurance models, with a focus on sustainable profitability [11][12]. - **Medical Devices**: High-end medical devices are categorized under 18A, while smart devices fall under 18C, with companies like Wei Gao Blood Purification leading the market [13][14]. - **New Consumer Healthcare**: Companies in this sector, such as Sheng Bei La and Lin Qing Xuan, are expanding their market presence through capital financing [15]. - **Frontier Technology**: Companies like Bai Ao Sai Tu are focusing on gene editing and innovative supply chains, with a strong emphasis on technology commercialization [16][17]. Group 4: Long-term Outlook - The healthcare sector's IPO landscape is characterized by a collision of policy incentives and innovation ambitions, with a focus on identifying companies with genuine technological barriers and profitability logic [18][19].

Group 1 - The article highlights the launch of three major summer markets in Shandong: the "Yellow River Market," "Canal Market," and "Marine Market," which will take place simultaneously on June 28, featuring diverse cultural and shopping activities [1][4][15] - The events aim to enhance consumer experiences by integrating local culture and products, creating a vibrant atmosphere for cultural exchange and commercial transactions [3][9] - The markets will include various attractions such as traditional Chinese medicine consultations, non-heritage craft demonstrations, and food festivals, appealing to both locals and tourists [4][11][15] Group 2 - The "Yellow River Market" showcases local products and allows consumers to witness the production process, enhancing trust and engagement with the products [4][6][12] - The "Canal Market" features interactive digital art installations, providing a modern twist to traditional market experiences, thus attracting a younger audience [8][9] - The "Marine Market" emphasizes high-quality seafood and local specialties, meeting consumer expectations for diverse and premium offerings [11][12] Group 3 - Experience-based consumption is emerging as a new trend in market activities, allowing consumers to participate in the creation process and fostering a sense of community [13][15] - The summer markets will utilize a combination of offline immersive experiences and online promotions to maximize reach and engagement, running until late August [15][16] - Government support and financial incentives will be provided to enhance consumer participation and ensure affordability during the events [15]

Group 1 - The event "In Xi'an, See China" organized by the Xi'an Municipal Publicity Department and International Online successfully concluded, featuring foreign experts from 10 countries exploring Xi'an's enterprises, communities, and cultural landmarks [1] - The Beilin District's hard technology innovation street has become a key to effectively promoting the transformation of cutting-edge technologies from laboratories to the industrial chain, showcasing various high-tech projects like bionic humanoid robots and delivery drones [2] - The Xi'an Beilin Cross-Border E-Commerce Industrial Park, as one of the first provincial-level cross-border e-commerce parks, supports a complete industrial chain ecosystem, allowing businesses to engage in global trade without leaving the building [3] Group 2 - The cross-border e-commerce industrial park reported a transaction volume of 750 million yuan in 2024, with trade involving 58 countries and regions, and 85 cross-border e-commerce enterprises [3] - The event highlighted the integration of culture and modern technology through performances that combine art, technology, and history, leaving a lasting impression on foreign experts [4] - Foreign experts experienced traditional Chinese crafts and health practices, such as tea-making and traditional Chinese medicine techniques, emphasizing the vibrant cultural heritage of Xi'an [5]

Core Viewpoint - The article highlights the journey of a young Chinese acupuncturist, Gan Lu, who has successfully established her practice in Toronto, Canada, contributing to the promotion and development of traditional Chinese medicine (TCM) abroad [2][4]. Group 1: Background and Education - Gan Lu was born in Nanning, Guangxi, and her interest in TCM began through family influence, particularly from her grandfather, a respected TCM practitioner [3]. - She pursued a degree in TCM at Tianjin University of Traditional Chinese Medicine, where she dedicated eight years to her studies, culminating in a master's degree [4]. - During her education, she was inspired by her mentor, Wang Jiliang, who exemplified the dedication and continuous learning required in the medical field [3][4]. Group 2: Career Development - After moving to Toronto in 2016, Gan Lu faced challenges as TCM was still a nascent field in Canada, including a lack of patient resources and initial skepticism due to her youth [7]. - She initially worked in a traditional TCM clinic to gain experience and later transitioned to a treatment-focused clinic, where she honed her acupuncture skills under the guidance of Professor Liu Wei [7][4]. - In 2021, she founded her own clinic, "Gan Lu Health Center," focusing on various TCM treatments such as acupuncture, guasha, cupping, and herbal medicine [8][7]. Group 3: Clinic Operations and Patient Engagement - The clinic operates with a digital management system, allowing for efficient patient interaction and case management [8]. - Gan Lu emphasizes the importance of treatment efficacy to compete with established clinics in a competitive market, particularly in Markham, where many Chinese residents reside [8][9]. - The clinic sees an average of 20 patients per day, which is considered a good performance for an overseas TCM practice [8]. Group 4: Cultural Adaptation and Patient Care - Gan Lu adapts her treatment approach based on the cultural backgrounds of her patients, noting differences in pain tolerance and treatment responses among various ethnic groups [9][10]. - She has observed that many patients initially approach TCM with skepticism, often after unsuccessful treatments with Western medicine, but they become advocates for TCM after experiencing positive results [9][10]. - To foster the growth of her clinic, Gan Lu actively trains interns and shares her knowledge through social media, aiming to attract a broader audience and promote TCM [11].

Market Overview - The market rebounded with the Hang Seng Index closing up 0.37% following a stabilizing meeting [1] - The Federal Reserve maintained the benchmark interest rate at 4.25%-4.50%, marking the third consecutive meeting without a change [1] - President Trump announced a significant trade agreement with a respected country, likely the UK, which may positively impact the US stock market [1][2] Trade Agreements - The trade agreement with the UK is not a traditional free trade agreement but rather a specific agreement to lower tariffs on certain goods [2] - The agreement is expected to stimulate the US stock market, despite uncertainties regarding Trump's adherence to future agreements [2] Technology Sector - The Trump administration plans to revoke AI chip restrictions from the Biden era, which faced opposition from tech companies and foreign governments [3] - This policy change is anticipated to benefit companies like NVIDIA, which saw a stock increase of over 3% [3] Geopolitical Tensions - Ongoing India-Pakistan conflict has led to significant market reactions, with the KSE-30 index in Pakistan dropping 7.2% due to economic instability [4] - India's recent trade agreement with the UK may provide some economic buffer, but ongoing military tensions could lead to capital flight [5] Pharmaceutical Sector - Following Trump's executive order to promote domestic drug production, the pharmaceutical sector experienced a significant drop but rebounded as the market adjusted to potential limitations on import tariffs [6] - The US relies heavily on imported raw materials for pharmaceuticals, with over 80% dependence, primarily from China [6] Automotive Sector - Great Wall Motors reported a 7% decline in total revenue for Q1, but April sales showed a recovery with a 5.55% year-on-year increase [9] - The company is focusing on new energy vehicles, with a notable 28.42% increase in sales for April [9][10] - The launch of new models and promotional activities are expected to drive future sales growth [10] Emerging Markets - The Chinese autonomous taxi market is projected to grow significantly, with Goldman Sachs predicting 500,000 Robotaxis by 2030 and a market size of $47 billion by 2035 [8] - Early entrants in this market, such as Pony.ai and WeRide, are expected to benefit from favorable regulatory conditions and consumer acceptance [8]

Core Viewpoint - The article emphasizes the importance of health maintenance and disease prevention during the "Lixia" solar term, which marks the beginning of summer, highlighting the need to adapt to rising temperatures and increased humidity through traditional Chinese medicine practices [1][4]. Group 1: Health Recommendations - As temperatures rise and humidity increases, traditional Chinese medicine suggests focusing on "nurturing yang" during spring and summer, particularly by caring for the heart and spleen, clearing heat, and dispelling dampness [1][4]. - Dietary recommendations include consuming sour foods like ume and hawthorn to help with sweating and thirst, and bitter foods like bitter melon and lotus seeds to clear heart fire. Fresh vegetables should be prioritized while oily and spicy foods should be minimized to reduce the burden on the spleen and stomach [4]. - It is advised to avoid excessive consumption of cold drinks and ice products to prevent damage to spleen yang, which could lead to diarrhea [4]. Group 2: Lifestyle Adjustments - The article suggests maintaining a balanced lifestyle by going to bed early and rising early, taking short naps during the day to nurture heart energy, and ensuring good indoor ventilation [4]. - Mental well-being is also emphasized, with recommendations to practice calming activities such as sitting quietly, listening to soothing music, and engaging in gentle exercises like Tai Chi, Ba Duan Jin, walking, or jogging to avoid excessive sweating that could deplete body fluids [4][5]. Group 3: Preventive Health Practices - The concept of "preventing disease before it occurs" is highlighted, with suggestions for home-based traditional Chinese medicine practices. For instance, lightly tapping the "Dantian" area for five minutes each morning can help alleviate internal heat and insomnia [5]. - A specific abdominal massage technique is recommended to help eliminate dampness and improve digestive health, which involves circular motions on the abdomen for a total of 49 repetitions daily [5].

文 ｜ 裘翔 刘春彤 杨家骥 高玉森 连一席 遥远 在彻底取消所有对华单边关税措施前，中美贸易谈判可能进展有限；国内的政策是托底和应对式的，4月只是第一波以试验和预防为特征 的政策；筹码出清相对彻底且对业绩不敏感的主题阶段性占优；市场整体情绪位置不算低，科技板块相对医药和消费更接近冰点，对风偏 回升更敏感。配置上，5月关注新技术和产业题材轮动、海外科技映射链修复以及服务业扩内需政策落地。 在彻底取消所有对华单边关税措施前， 中美贸易谈判可能进展有限 近期特朗普针对关税问题表态持续反复，美股市场反应较为敏感。但我们认为国内投资者不需要花精力关心这些高频变化，特朗普试图灵活 利用关税武器来制造谈判筹码，而中国商务部新闻发言人何亚东表示"如果美方真的想解决问题，就应该正视国际社会和国内各方理性声音， 彻底取消所有对华单边关税措施，通过平等对话，找到解决分歧的办法"。我们建议还是关注特朗普未来一年面临的两大约束，一是7~8月需 要推进债务上限谈判和减税法案通过，二是明年中期选举。尽管目前特朗普的民调支持率已经开始明显下降，但这属于每个美国总统百日新 政后正常的回落，而特朗普两次任期的民调本身就比其他美国总统偏低，目前 ...