英国5月零售销售环比 -2.7%，预期 -0.5%，前值 1.2%。 ...

Economic Overview - Liangshan Prefecture has launched its fourth phase of the "old for new" promotion series, with a total fund disbursement of 52.828 million yuan, directly driving sales of 1.007 billion yuan [3] - The fifth national economic census report indicates that both the secondary and tertiary industries in Liangshan are accelerating in development, showcasing an optimized industrial structure [3][4] Industrial Development - By the end of 2023, Liangshan had 2,699 industrial enterprises, a 30.4% increase from the end of 2018, with manufacturing accounting for over 50% of this total [4] - The number of large-scale industrial enterprises engaged in strategic emerging industries reached 54, representing 13.5% of the total [4] - The industrial value added in Liangshan increased by 10.4% year-on-year from January to April [4] Key Projects - Liangshan has focused on key project construction as a "main engine" for economic and social development, with several high-potential projects like Zhuoyuan Semiconductor and Huanlian Energy's vanadium liquid flow battery being implemented [5] - The region is transitioning its vanadium-titanium industry from "resource output" to "high-end manufacturing," injecting strong momentum into local economic development [5] Consumer Market and Tourism - The "old for new" policy has expanded to include popular digital products, stimulating strong demand in the automotive sector, particularly for energy-efficient and comfortable new energy vehicles [6] - Liangshan's tourism industry is experiencing robust growth, with various cultural and tourism events attracting significant participation, indicating a strong upward trend in the sector [6][7] - The wholesale and retail sector achieved an annual revenue of 124.18 billion yuan in 2023, a 239.4% increase since 2018, while the accommodation and catering sector reached 3.159 billion yuan, up 110.3% [7] Strategic Initiatives - Liangshan is actively seizing opportunities for service industry upgrades, focusing on high-quality development of the tertiary sector as a key measure for stabilizing growth and promoting transformation [7] - The region is set to continue its "Colorful Liangshan" tourism consumption season activities from June 21 to September 23, aiming to enhance year-round tourism [7]

Core Viewpoint - The article discusses the tax deduction policy for research and development (R&D) expenses, highlighting the eligibility criteria, benefits, and specific conditions for various industries and activities [2][5][20]. Group 1: Eligible Entities - Resident enterprises with sound accounting practices that can accurately collect R&D expenses are eligible for the tax deduction, excluding industries such as tobacco manufacturing, accommodation and catering, wholesale and retail, real estate, leasing and business services, and entertainment [4][9]. Group 2: Benefits of the Policy - R&D expenses that do not form intangible assets can be deducted at 100% of the actual amount incurred starting from January 1, 2023. For expenses that form intangible assets, they can be amortized at 200% of the cost [6][7]. - For integrated circuit and industrial mother machine enterprises, R&D expenses that do not form intangible assets can be deducted at 120% of the actual amount incurred from January 1, 2023, to December 31, 2027. For expenses that form intangible assets, they can be amortized at 220% of the cost during the same period [7]. Group 3: Conditions for Enjoying Benefits - R&D activities must be systematic and aimed at acquiring new scientific and technological knowledge or significantly improving technology, products, or processes. Certain activities, such as routine upgrades or direct applications of existing research, do not qualify for the tax deduction [9][10]. - Enterprises must maintain accurate accounting records for R&D expenses and set up auxiliary accounts for each R&D project to track deductible expenses [9]. Group 4: Special Cases - For commissioned R&D activities, expenses incurred by domestic external institutions can be included at 80% of the actual amount for tax deduction purposes. For commissioned overseas R&D, the same percentage applies, but the total cannot exceed two-thirds of the eligible domestic R&D expenses [11][12]. - In collaborative R&D projects, each party can determine the allocation of R&D expenses based on their actual contributions [13][16]. Group 5: Reporting and Compliance - Taxpayers can choose to enjoy the tax deduction for R&D expenses incurred in the first half of the year or the first three quarters during the prepayment declaration periods in July and October. If not chosen, they can still opt for the deduction during the annual tax settlement [19]. Group 6: Policy References - The article references several official documents that outline the tax deduction policy for R&D expenses, including notifications and announcements from the Ministry of Finance and the State Taxation Administration [21][22].

智通财经APP获悉，6月19日，香港政府统计处发布2025年第一季环比物量计算按经济活动划分的本地 生产总值初步数字。根据初步统计数字，整体本地生产总值在2025年第一季较上年同期实质上升 3.1%，而2024年第四季的升幅为2.5%。 按组成服务行业分析及与上年同期比较，所有服务活动合计的增加价值在2025年第一季实质上升 2.6%，而2024年第四季的升幅为1.7%。 进出口贸易、批发及零售业的增加价值，在2025年第一季与上年同期比较实质上升4.2%，而2024年第 四季则下跌0.2%。 公共行政、社会及个人服务业的增加价值，在2025年第一季与上年同期比较实质上升1.7%，而2024年 第四季的升幅为3.0%。 就服务行业以外的其他行业而言，本地制造业的增加价值，在2025年第一季与上年同期比较实质上升 0.7%，而2024年第四季的升幅为1.0%。 电力、燃气和自来水供应及废弃物管理业的增加价值，在2025年第一季与上年同期比较实质下跌 1.4%，而2024年第四季则上升3.0%。 建造业的增加价值，继2024年第四季与上年同期比较实质下跌4.7%后，在2025年第一季下跌1.9%。 运输、仓库、邮 ...

Core Viewpoint - The Federal Reserve has decided to maintain the federal funds rate target range at 4.25% to 4.50%, marking the fourth consecutive meeting without a rate change, reflecting the fragile state of the U.S. economy amid conflicting pressures [1][2]. Group 1: Economic Indicators - The removal of the phrase "risks of inflation and unemployment are rising" indicates a shift in the Fed's assessment of economic risks from "broad vigilance" to "structural caution" [2]. - The OECD has significantly downgraded the U.S. economic growth forecast for 2025 from 2.2% to 1.6% and raised the inflation forecast to 3.2%, highlighting a typical sign of stagflation risk [2]. - The Fed's latest economic projections show an increase in core inflation expectations for 2025 from 2.8% to 3.1%, while GDP growth expectations have been reduced from 1.7% to 1.4% [2]. Group 2: Impact of Trade Policies - U.S. tariff policies are a major variable affecting economic and policy outlook, with the Fed remaining highly vigilant about the impact of trade conditions on inflation [3]. - Increased tariffs are expected to raise import prices, exacerbating inflation in the short term while suppressing demand, with long-term effects dependent on various complex factors [3]. - The Fed's cautious stance reflects both prudence and a sense of helplessness in the face of trade protectionism, policy uncertainty, and unexpectedly resilient inflation, leading to rising living costs and job market instability for Americans [3].

据新华社消息，6月18日7时5分，位于广东省肇庆市怀集县怀城街道的绥江怀集站出现55.22米的洪峰水 位，超警戒水位5.22米，为建站以来最大洪水。截至18日12时，怀集县19个乡镇均有不同程度的受灾情 况，受灾人口约30万人，当地累计转移约7万人。本次灾情致15人受伤，均无生命危险。 新京报记者采访了多位洪水亲历者，他们有的家中、店铺进水，有的自救转移，还有的开摩托艇接送困 在洪水中的人。在经历短暂的无措后，他们正等待洪水慢慢退去，让生活逐步回归正常。 洪水涌进家门，水位达到1.6米 李菲是一名保险行业从业者，工作地点在怀集县城，同时还在县城解放北路附近经营着一家成人用品 店。 6月17日，从中午到晚上，李菲看着雨越下越大。晚上9点40分左右查看监控时，她发现店内地面已有较 厚的积水。"我想把店里的东西移走时，发现为时已晚，店铺已经被淹了，隔壁店主也说现在已经不能 进去搬东西了。"李菲告诉新京报记者，自己的店开在地下一层，很多货被水泡了就不能要了。 18日，李菲发现洪水正在慢慢退去，但她店里的水还未退去。她看到很多救援人员驾皮划艇救助周围不 便行动的老人、孩子，以及被困在一楼的人。 在洪水来临之前，怀集大润 ...

Core Points - The Shanghai Energy Conservation Promotion Week will take place from June 23 to June 29, 2025, focusing on the theme "Energy Saving and Efficiency Improvement, Leading with 'New'" [1] - The event will feature approximately 400 green-themed activities across various sectors, including green home appliances, home decoration, 3C digital products, and new energy vehicles, aiming to create the "Green Movement in Shanghai" brand [1][4] Group 1 - The event will adopt a collaborative model involving government, enterprises, and public participation, with various activities organized by different government departments [2][3] - Notable companies such as Sheneng Group, SAIC Motor, Shanghai Bank, and Nippon Paint have been recognized as "Green and Low-Carbon Partners" during the event [2][3] - The Shanghai Municipal Economic and Information Commission will launch a "Media Open Week" to report on the latest achievements in the green and low-carbon sector [3] Group 2 - Activities will include a "trade-in" program for home appliances and furniture, with online and offline subsidies to encourage the replacement of old items [3][4] - Companies like Suning and Ele.me will offer significant discounts and subsidies for green services and products, with Suning providing up to 50% off on various services [4] - The event will also feature a series of community-focused activities, such as "Green Passport" initiatives and low-carbon knowledge competitions [7][8] Group 3 - Each district in Shanghai will host unique energy conservation activities, such as family workshops, interactive quizzes, and cultural performances to engage the community [8] - The event aims to promote green living and energy-saving practices among citizens through various engaging and educational activities [8]

央视网消息：6月17日，240小时过境免签政策实施已满半年。记者从广州边检总站白云边检站了解到，越来越多的外国人选择来广东旅游，带动口岸出 入境客流数量大幅增长。 据白云边检站统计，截至6月17日0时，广州白云国际机场已有超1万名旅客享受到240小时过境免签便利，人数比去年同期增长约90%。 过境免签政策放宽优化带动经济作用明显。某旅游平台数据显示，2025年1月1日至2025年5月22日，广州入境游客总人次同比增长57.86%，总消费金额 同比增长68.63%，带动旅游、餐饮、住宿等相关产业发展，有力实现"过境流量"向"经济增量"转化。 浙江杭州：入境游火热 科技新特产"圈粉"境外游客 自6月12日起，中国240小时过境免签政策适用国家增至55国。随着我国免签"朋友圈"再扩容，外籍游客既能"说来就来"，也能"边逛边买"。在浙江杭 州，外籍游客将深度游、文化游作为首选，也被不少科技新特产"圈粉"。 在杭州手工艺活态馆内，外籍游客正跟着老师学习制作江浙传统糕点"定胜糕"，地道的美食文化给大家带来不一样的体验。而在馆内的手工艺品展区， 外籍游客正忙着挑选杭扇、冰箱贴、饰品，给自己的旅行留下特别的回忆。 在杭州大厦 ...

另外，纽约联储公布的制造业活动数据显示，6月份该州制造业活动超出预期地收缩。虽然企业对未来 经营状况的乐观情绪有所增强，但纽约联储制造业总体商业状况指数仍下降近7点至-16，连续第四个月 处于萎缩状态，低于经济学家预测的-6点。 （文章来源：新华财经） 同时，美国房屋建筑商的信心在6月份意外降至两年半来的最低点。美国全国住宅建筑商协会 （NAHB）与富国银行联合发布的住房市场指数从5月的34点降至32点，这表明高库存水平以及等待房 价更加合理的潜在买家正在抑制房价的增长，甚至在一些市场中导致二手房价格下跌。NAHB首席经济 学家Robert Dietz表示："基于当前市场情况，我们预计2025年美国独栋住宅的新建开工量将会减少。" 新华财经北京6月18日电根据美国商务部最新数据，5月份零售销售额环比下降0.9%，创下本年度最大 跌幅，并且是继4月份以来连续第二次出现下滑。数据的显著下滑主要受到汽车消费领域的拖累，反映 出消费者在年初的强劲消费之后，由于对关税政策和个人财务状况的担忧而开始削减开支。 在报告涵盖的13个类别中，有7个类别的销售额出现下滑，特别是建筑材料、汽油和机动车销售领跌。 这些品类之前曾因消 ...

Core Viewpoint - The overall employment situation in China remains stable, with a slight decrease in the urban survey unemployment rate to 5.0% in May, reflecting the resilience of the job market amid economic challenges [1][2][4]. Employment Situation - The average urban survey unemployment rate from January to May was 5.2%, with May's rate showing a 0.1 percentage point decrease from the previous month [1]. - The unemployment rate for local and migrant workers was both recorded at 5.0%, while the rate for migrant agricultural workers was slightly lower at 4.9% [1]. - The unemployment rate in 31 major cities was also 5.0%, indicating a consistent trend across urban areas [1]. Economic Factors Supporting Employment - Economic growth and favorable industrial development have contributed to the stability of employment, supported by effective employment policies [2][4]. - In May, the industrial added value and service production index grew by 5.8% and 6.2%, respectively, maintaining overall stability compared to April [4]. - The retail and accommodation sectors showed significant growth, with production indices increasing by 8.4% and 6.2%, respectively, compared to the previous month [4]. Policy Measures - The government has implemented robust employment stabilization policies, focusing on both enterprise support for job creation and individual employment subsidies [5]. - These policies aim to balance labor supply and demand by incentivizing companies to hire and enhancing individual employability [5]. - Future efforts will focus on vocational training and improving labor market matching to promote full employment and enhance job quality [5]. Youth Employment - The youth unemployment rate has shown a continuous decline for three months, indicating a positive trend in youth employment [6]. - Despite this progress, challenges remain regarding the overall pressure on youth employment and structural issues that need ongoing policy attention [6][7]. - Initiatives targeting college graduates have been intensified, with various measures introduced to support their employment [7]. Importance of Stable Employment - Stable employment for youth is crucial for personal development, family financial security, and overall economic sustainability [8].