报载：最近，"苏超"的火热不仅燃爆了绿茵场，更在江苏大地掀起了一场"萌经济"的风暴。球迷们佩戴 的Q版城市毛绒玩具成为独特风景，各类围绕赛事衍生的文创产品广受关注，消费市场呈现出"为情绪 买单"的新趋势。而在这蓬勃发展的"萌经济"背后，国网江苏省电力有限公司正以坚实的电力保障和贴 心的服务，为产业发展注入源源不断的动力。 从国网江苏电力的数据统计中可以看出，"萌经济"的火爆直接带动了相关产业用电量的显著增长。"苏 超"开赛以来，全省玩具制造业用电量同比增长9.6%，工艺礼品制造业用电量同比增长9.3%。这一数据 的背后，是产业的繁荣与发展，也是电力需求的攀升。以扬州为例，作为"中国毛绒玩具礼品之 都"，"苏超"点燃的"萌经济"给当地带来了积极的变化。扬州雅伦玩具有限公司增设多条生产线全力保 障"苏超"订单交付，用电量环比飙升152%。该公司为"苏超"量身打造的"13市Q版毛绒玩具"系列，巧妙 融入城市文化符号，未上市便冲上热搜。此外，扬州足球队的吉祥物"包赢"、帝腾玩具的"球员版"非遗 技艺球衣手办等产品也供不应求。 国网江苏省电力有限公司在助力"萌经济"发展的过程中，展现出了高度的责任感和使命感。他们用稳定 ...

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（央视财经《财经调查》）在成都软泥类玩具批发地宏正广场，批发市场商户告诉记者，软泥产品硼砂 添加量大、迁移量超标，为躲避监管，包装不标硼砂、也无合格检测报告。为了不影响销量，销售时更 是对有毒成分硼砂闭口不谈。总台《财经调查》记者又来到山东智启航益智玩具用品有限公司，负责人 邹总承认市场上的"泥趣多"是自家产品，为了规避监管打了假的公司名，还可以提供假的质检报告。记 者把从市场上购买的几款软泥成型水送检，硼元素迁移量均超标，最高的一款是国家标准19倍多。 编辑：令文芳 转载请注明央视财经 ...

Group 1 - The appreciation of the RMB is expected to benefit the general public by making imported goods, overseas travel, and studying abroad cheaper, which can help reduce imported inflation [7] - The RMB's exchange rate has reached new highs against the USD, with onshore and offshore rates hitting 7.1260 and 7.1155 respectively, marking the highest levels since November 2024 [2] - The appreciation of the RMB is supported by both external factors, such as the dovish stance of the Federal Reserve, and internal factors, including the strong fundamentals of the Chinese economy, which attract international capital inflows [3][4] Group 2 - Historically, the RMB has experienced three significant appreciation cycles, each coinciding with strong economic performance and financial opening policies, leading to increased foreign capital inflow into the A-share market [4] - The appreciation of the RMB is positively correlated with the performance of the A-share market, as it reflects increased confidence from international investors in the Chinese economy [4] - Industries with high foreign currency liabilities or significant import costs, such as airlines, paper, petrochemicals, and semiconductors, stand to benefit from RMB appreciation [5] Group 3 - The traditional view that RMB appreciation necessarily leads to a decline in exports is challenged by recent data, which shows that during periods of RMB appreciation, exports to the US and EU have actually increased significantly [6] - The current export landscape is dominated by high-value products, which mitigates the negative impact of RMB appreciation on competitiveness [6] - The overall impact of RMB appreciation on the economy is favorable, as it reduces the costs of energy and raw material imports, benefiting the macroeconomic structure [7]

Group 1 - The American Soybean Association is urging the U.S. government to reach an agreement with China to alleviate financial pressure on soybean farmers, as prices continue to decline while production costs rise significantly [2] - The Federal Reserve decided to maintain the federal funds rate target range at 4.25%-4.5%, citing economic uncertainty and a slowdown in economic activity during the first half of the year [3] - The People's Bank of China announced that the Loan Prime Rate (LPR) remains unchanged for three consecutive months, with the one-year LPR at 3.0% and the five-year LPR at 3.5% [4] Group 2 - The Ministry of Finance in China has instructed local governments to prioritize projects with certain returns based on economic and financial conditions [5] - The Chinese government has announced that childcare subsidies will be exempt from personal income tax starting January 1, 2025 [6] - The State Administration for Market Regulation is seeking public opinion on new antitrust guidelines for the public utility sector [7] Group 3 - The Ministry of Transport stated that rural road development in China has entered a new phase, focusing on both new construction and the improvement of existing roads [8] - The China Securities Regulatory Commission reported that there are currently 131 listed commodity futures and options in China, covering a wide range of economic sectors [10] - The National Financial Regulatory Administration is seeking opinions on a draft management method for commercial bank merger loans [11] Group 4 - Several small and medium-sized banks in China have announced reductions in deposit rates by 10 to 20 basis points to manage net interest margin pressures [12] - The China Academy of Information and Communications Technology reported that smartphone shipments in June 2025 reached 22.598 million units, a year-on-year decline of 9.3% [13] - Guangzhou has issued implementation measures for converting commercial housing loans to public housing fund loans [14] Group 5 - The Hong Kong Stock Exchange is considering a 24-hour trading mechanism, following the example of Nasdaq [18] - The U.S. President has called for the resignation of a Federal Reserve governor amid ongoing scrutiny of her financial dealings [19] - The U.K. inflation rate rose to 3.8% in July, the highest level in 19 months, exceeding the Bank of England's target [22] Group 6 - Germany's trade surplus with the U.S. decreased by 12.8% in the first half of the year due to U.S. tariff policies [23] - The European Central Bank's President indicated that U.S. tariff policies are expected to slow economic growth in the Eurozone [25] - India has temporarily suspended an 11% import duty on cotton, benefiting U.S. cotton farmers and the Indian textile industry [29]

Core Viewpoint - The article discusses the impact of the ongoing tariff war initiated by Trump on China's domestic prices, highlighting the significant downward pressure on prices due to insufficient domestic demand and external shocks from tariffs [2][4]. Group 1: Impact of Tariff War on Prices - The Producer Price Index (PPI) in June 2025 fell to -3.6%, the lowest since August 2023, while the Consumer Price Index (CPI) remained around 0, indicating persistent low price levels in China [4][6]. - The tariff war has exacerbated the downward pressure on domestic prices, with global economic growth expectations declining and commodity prices, such as oil, dropping significantly [5][19]. - The decline in international oil prices has had a notable input drag on domestic prices, with PPI for the petroleum industry showing significant year-on-year declines [6][19]. Group 2: Export Dynamics and Price Changes - Direct exports to the U.S. have decreased significantly, with certain goods like textiles and furniture experiencing price drops due to increased tariffs [7][8]. - Export prices have fallen sharply, with the average price of clothing imports from China to the U.S. dropping by 17.4% and 8.3% in April and May 2025, respectively [8][11]. - The shift of exports to domestic sales has led to increased competition and price reductions in the domestic market, particularly in labor-intensive sectors [21][22]. Group 3: Future Price Trends and Policy Recommendations - The article suggests that the price trajectory in the second half of 2025 will depend on domestic consumption and investment policies, while external shocks from the tariff war remain a concern [18][20]. - Recommendations include expanding non-U.S. market exports, supporting foreign trade enterprises, and preventing excessive price competition in the domestic market to stabilize prices [26][28][29]. - The need to enhance domestic effective demand is emphasized as a critical factor in addressing the ongoing low price levels in China [29].

Group 1 - The company, Guangdong Qunxing Toys Co., Ltd., is planning a significant asset restructuring by signing a share acquisition framework agreement to acquire at least 51% of the equity of the target company, Tian Kuan Technology, through cash payment [1][2]. - This acquisition is expected to constitute a major asset restructuring as defined by the "Measures for the Administration of Major Asset Restructuring of Listed Companies," but it does not qualify as a related party transaction [2]. - The company and relevant parties are actively advancing the overall process of this transaction, with independent financial advisors, legal advisors, auditing institutions, and evaluation agencies already engaged in on-site work [3]. Group 2 - As of the date of this announcement, the due diligence, auditing, and evaluation processes related to the transaction are progressing in an orderly manner, with ongoing communication and negotiation on core issues of the transaction plan [3]. - The formal agreement has not yet been finalized, and the company will convene a board meeting to review the restructuring plan and submit it for shareholder approval once the relevant work is completed [3].

Group 1: Impact of Tariff War on Prices - The PPI in June 2025 decreased by 3.6% year-on-year, the lowest since August 2023, while CPI remained around 0%[12] - Brent crude oil prices fell from $74.95 per barrel to $62.82 per barrel following the announcement of tariffs, leading to significant declines in PPI for the petroleum industry of -8.6%, -11.1%, and -9.0% from April to June 2025[2] - Exports to the U.S. for textiles, clothing, and furniture saw a drop of over 40% in May 2025, resulting in a significant decrease in related export prices, such as an 8.3% drop in the average price of clothing imported from China[17] Group 2: Future Price Trends and Recommendations - International commodity prices are expected to remain under pressure, with OPEC+ increasing production, which may lead to further downward pressure on prices[31] - The negative impact of the tariff war on China's overall exports may gradually become more pronounced, with potential price declines for more products[32] - To counteract the tariff impacts, it is crucial to expand domestic effective demand through policies that stimulate consumption and investment, particularly in the real estate sector[42]

Group 1 - The company, Qunxing Toys (002575), expects a net profit loss of 16 million to 21 million yuan in the first half of 2025, compared to a loss of 6.597 million yuan in the same period last year [1]

Group 1 - The Anhui Bozhou Market Supervision Administration announced the results of the 2025 Spring Festival and winter-spring season key industrial product quality supervision and inspection [1] - The inspection results include various products, highlighting issues related to electrical safety and compliance with standards [1][2] - Specific products listed include heating appliances and electrical devices, with several identified as non-compliant [1][3] Group 2 - The inspection revealed that certain heating appliances failed to meet safety standards, raising concerns about consumer safety [2][4] - Companies involved in the inspection include well-known brands, indicating a widespread issue across the industry [2][5] - The results may impact consumer trust and purchasing decisions in the heating appliance market [3][6]