·外交部发言人毛宁11月18日表示，中日关系出现目前局面，根源在于日本首相高市早苗公然发表涉台 错误言论，粗暴干涉中国内政。日方必须立即收回错误言论，深刻反省，改弦更张，给中国人民一个明 确的交代。 【重点关注】 ·国家发展改革委：渝黔等5项电力互济工程获核准总投资达244亿元 ·北京：加大对汽车特别是新能源汽车消费的金融支持力度 ·外交部：日方必须立即收回错误言论，给中国人民一个明确的交代 ·日本新米交易价格再创新高每60公斤糙米比9月上涨163日元 【国内要闻】 ·记者11月18日从国家邮政局获悉，前10个月，我国邮政行业寄递业务量累计完成1772.5亿件，同比增长 14%。其中，快递业务量累计完成1626.8亿件，同比增长16.1%。 ·中国工商银行土耳其人民币清算行11月17日在伊斯坦布尔举行开业仪式，标志着土耳其人民币清算行 业务正式启动。此举将助力双边经贸与金融协作升级，促进两国贸易投资便利化。 ·外交部亚洲司司长刘劲松18日上午在北京同日本外务省亚洲大洋洲局局长金井正彰举行磋商。外交部 发言人毛宁在当日例行记者会上介绍有关情况。毛宁表示，在磋商中，中方就日本首相高市早苗涉华错 误言论再次向日方提 ...

Group 1 - The core viewpoint of the article is that Xicheng District in Beijing is implementing substantial financial support policies for various industries, including finance, data, animation, and esports, to promote high-quality industrial development [1][2][3] Group 2 - Xicheng District will provide annual financial support of up to 10 million yuan for the construction of the national financial management center [1] - For building a technology innovation ecosystem, the maximum financial support per project will be 25 million yuan [1] - In enhancing the data industry chain, the maximum financial support per project will be 50 million yuan [1] - Support for "cultural+" integration innovation will also receive up to 10 million yuan per project [1] Group 3 - The district supports the renovation of commercial and office spaces with a maximum funding of 10 million yuan, and offers up to 30 million yuan for purchasing new office projects [2] - Xicheng District encourages the creation of culturally rich media products and provides up to 1 million yuan in one-time rewards for projects recognized at the national or municipal level [2] - For animation and esports, the district will support projects with funding up to 1 million yuan for national key projects and 500,000 yuan for esports venues meeting specific criteria [2]

Group 1: Market Key Indicators - As of the end of Q3 2025, the stock of Grade A office buildings in Shenzhen reached 8.879 million square meters, with a vacancy rate of 29.0% and an average rent of RMB 153.4 per square meter per month [2][3][9] - In 2025, Shenzhen's GDP is expected to grow by 5.1%, the tertiary industry by 6.1%, CPI by 0.1%, and real estate development investment to decline by 15.1% [2] Group 2: Supply - Side Analysis - New supply in Q3 2025 was concentrated in the Qianhai area, which promoted the business atmosphere but also intensified the imbalance between supply and demand, raising the vacancy rate by 1.2 percentage points [3] - The average rent dropped by 4.2% quarter - on - quarter and 11.2% year - on - year, and the net absorption reached 92,000 square meters, a quarterly high since 2024 [3] - Owners are exploring diversified ways to attract customers, such as transforming the cooperation model with office building operators from a traditional rental relationship to a partnership [3] Group 3: Demand - Side Analysis - In the first three quarters, leasing demand was mainly concentrated in TMT, finance, professional services, and retail trade. In Q3, some niche technology companies entered the market [4] - Professional services and finance sectors saw a recovery in leasing demand in Q3, and companies in hotel, circular economy, new consumption, and logistics sectors also had large - area leasing transactions [4] Group 4: Future Outlook - The large amount of upcoming supply will increase the pressure on the Grade A office building market, which may drive more innovative exploration in office building operation [5] Group 5: Regional Market Data - In different regions of Shenzhen, Luohu has a vacancy rate of 36.5%, Futian 20.7%, Nanshan 28.7%, Qianhai 42.4%, and Bao'an 26.0% as of 2025 [9] - The average rent in different regions ranges from RMB 124.04 in Qianhai to RMB 169.14 in Futian [9] Group 6: Transaction and Construction Information - In Q3 2025, major leasing transactions included Point Cat Technology leasing 9,800 square meters in China State - owned Capital Venture Capital Building in Qianhai [10] - Major ongoing construction projects include China Merchants Bank Global Headquarters Building in Shenzhen Bay Super Headquarters Base, expected to be delivered in 2026 [11]

Core Points - The article discusses the decline of Western economics, particularly in the context of recent political changes in the U.S., suggesting that this decline has led to a more superficial approach to economic policy [1][16] - It emphasizes the importance of foundational economic principles, as outlined in Mankiw's "Principles of Economics," and critiques the neglect of these principles in contemporary U.S. economic policy [4][5] Group 1: Economic Principles - Mankiw's textbook outlines three key macroeconomic principles: a country's standard of living depends on its ability to produce goods and services, excessive money printing leads to rising price levels, and there is a trade-off between inflation and unemployment in the short term [4][5] - These principles, while not perfect, represent some of the best insights in economics and have been largely ignored in recent U.S. economic policies, which have often contradicted these foundational ideas [5][6] Group 2: Policy Critique - The article critiques the U.S. government's recent economic policies, which have focused on excessive money printing and neglect of production capacity, leading to inflation and economic stagnation [9][12] - It highlights the disconnect between economic theory and practice, noting that policies based on flawed assumptions have resulted in significant economic challenges, including high inflation that has adversely affected the living standards of many Americans [9][12] Group 3: Historical Context - The article argues that a lack of respect for historical economic principles and practices has contributed to the current economic malaise in the U.S., suggesting that a more rigorous adherence to established economic theories could have led to better outcomes [12][14] - It posits that the superficial understanding of economics prevalent among contemporary scholars and politicians has resulted in misguided policies that fail to address the underlying economic realities [16][17]

Core Viewpoint - The misuse of "outsourcing" in various industries leads to significant disparities in rights and benefits between outsourced and formal employees, raising concerns about labor rights and the need for systemic reform [1][2][3] Group 1: Issues with Outsourcing - Outsourced employees often perform the same tasks as formal employees but face differences in rights and benefits, which undermines labor fairness [1] - Companies exploit outsourcing to evade legal responsibilities and reduce labor costs, transforming it into a tool for hidden infringement [1][2] - The lack of clear legal definitions for labor outsourcing allows companies to create a facade of "non-employment," complicating workers' rights in cases of injury or unpaid wages [2] Group 2: Need for Regulatory Reform - There is an urgent need for specific regulations governing labor outsourcing to establish a principle of "substance over form," ensuring companies are held accountable for their management of outsourced employees [2] - Labor inspection agencies should enhance joint enforcement to crack down on "false outsourcing" practices and hold accountable those who evade responsibilities [2] - Companies must recognize their social responsibilities and create transparent outsourcing mechanisms that ensure fair wages and safe working conditions for outsourced employees [2][3] Group 3: Role of Unions and Workers - Unions and workers should enhance their awareness of rights and engage in collective bargaining to advocate for the interests of outsourced employees [3] - The pursuit of efficiency should not come at the cost of fairness, and a cultural shift towards respect for labor is necessary to restore the true meaning of outsourcing [3]

Core Viewpoint - The Nikkei 225 index experienced a significant decline, dropping over 1000 points in intraday trading, primarily due to the downturn in technology stocks and concerns regarding the U.S. economic outlook [3]. Group 1: Market Performance - On November 18, the Nikkei 225 index fell more than 2% during intraday trading, following a previous day's close that saw a decline of 0.1% and an intraday drop exceeding 1% [3]. - Stocks related to department stores, transportation, and tourism faced heavy selling pressure from investors [3]. Group 2: Currency Trends - The euro against the yen surpassed the 180 mark, marking the first time since 1999 that the yen has fallen into this range [5]. - Concerns over Japan's deteriorating fiscal situation have led to increased selling of the yen, compounded by the government's plans to implement economic measures exceeding the previously estimated 17 trillion yen [5].

11月18日早盘，亚太股市大幅下跌。 截至9:35左右，日经225指数跌超1000点，日经225指数下跌2%，日本东证指数跌超1.5%。 个股方面，截至发稿，住友电气工业跌近7%，软银集团跌近5%。昨天大跌的日本旅游股有所回调，资生堂跌超3%，日本航空跌0.22%， 日本其他消费品/零售股方面，三丽鸥涨0.82%、亚瑟士跌1.81%、迅销跌0.39%。百货店经营商伊势丹三越控股公司股价下跌0.69%。 另外，30年期日本国债收益率上升2.5个基点至3.280%。 日元汇率继续走弱，欧元对日元盘中再次突破180关口。 韩国KOSPI指数也下跌2%，SK海力士、韩美半导体、三星电机跌超4%，LG新能源跌超3%。 港股三大指数低开，恒生科技指数跌约1.3%。大型科技股继续低迷行情，文旅部提醒中国游客近期避免前往日本旅游，旅游股继续下 跌，香港中旅大跌超16%。众安集团跌超8%，其曾持股的百保君日前被曝无法兑付（知名平台人去楼空，涉案金额或超亿元，CEO被带 走）。此外，小鹏汽车跌超8%，蔚来跌3%，理想汽车跌超2%。百度、快手、腾讯等跌超1%。 日本《社会新报》发表的社论指出，高市作为首相的存在本身才是日本的"存亡 ...

1. Report Industry Investment Rating No relevant content provided. 2. Core Views of the Report - Overseas, the Fed's Vice Chair Jefferson reiterated the need for cautious policy adjustment, cooling the expectation of a December rate cut, leading to a rebound in the US dollar index and a continued decline in global risk appetite. Domestically, China's October economic data slowed year - on - year and fell short of expectations, with the central bank restarting treasury bond trading to release liquidity, but the Fed's hawkish signals dampened risk appetite. The short - term macro upward drive has weakened, and the market focuses on domestic stimulus policies, economic growth, and Fed policy expectations [3][4]. - Different asset classes have different trends. For example, stocks, bonds, and various commodities are mostly in a short - term volatile state, and specific trading strategies vary by asset [3][4]. 3. Summary by Related Catalogs Macro - finance - **Stock Index**: Affected by sectors such as biomedicine, precious metals, and insurance, the domestic stock market fell. With economic data weakening and the Fed's hawkish signals, the short - term macro upward drive is weak, and the stock index is in short - term volatility. It is recommended to wait and see in the short term [4]. - **Precious Metals**: The precious metals market fell on Monday night. Due to the strong US dollar and reduced expectations of a US rate cut next month, the short - term is volatile, but the medium - to - long - term upward trend remains. Short - term wait - and - see, medium - to - long - term buy on dips [4]. Black Metals - **Steel**: The steel market rebounded on Monday, driven by market sentiment. However, the fundamentals are still weak, with demand declining and supply being restricted by losses. The downward space below 3000 points for rebar is limited, and low - level buying opportunities can be considered [5]. - **Iron Ore**: The iron ore price rebounded on Monday. The bottom of pig iron production is uncertain, and the supply is in a state of over - supply. It is expected to fluctuate within a range in the short term [7]. - **Silicon Manganese/Silicon Iron**: The spot prices of silicon manganese and silicon iron were flat on Monday, while the futures prices rebounded. The demand for ferroalloys decreased, and the supply of silicon manganese decreased slightly while that of silicon iron increased slightly. The futures prices are expected to continue to fluctuate within a range [8]. Chemicals - **Soda Ash**: The soda ash futures contract oscillated on Monday. Supply decreased marginally due to some device overhauls but remained under pressure. Demand for heavy soda was stable, and that for light soda improved slightly. Short - term range - bound, medium - to - long - term bearish [9]. - **Glass**: The glass futures contract was slightly stronger on Monday. Supply remained stable, demand improved marginally, and inventory was still high. The overall supply - demand situation is weak, and it is expected to oscillate in the short term [9]. Non - ferrous Metals and New Energy - **Copper**: US copper inventories are at a historical high, and domestic refined copper de - stocking is less than expected. The shutdown of an Indonesian copper mine supports the price, and it is expected to oscillate at a high level in the short term [9]. - **Aluminum**: The price of Shanghai aluminum continued to fall on Monday, restricted by the reduced expectation of a Fed rate cut. The inventory is difficult to deplete, and if the expectation is repaired later, the price may face a significant correction [10]. - **Tin**: The supply side has a tight situation, and the demand side is weak. The inventory has increased for two consecutive weeks. The price is expected to remain high and volatile in the medium - to - short term [11]. - **Lithium Carbonate**: Multiple contracts of lithium carbonate hit the daily limit on Monday. The market quickly digested negative news, and the demand logic prevails. It is oscillating strongly, but supply - side disturbances and hedging pressure need to be watched [12]. - **Industrial Silicon**: The industrial silicon futures contract rose slightly on Monday. After the end of the wet season, production in the southwest decreased significantly, and the supply - demand situation is weak. It is expected to oscillate within a range [12]. - **Polysilicon**: The polysilicon futures contract fell on Monday. There is a stalemate between strong policy expectations and weak reality. It is expected to oscillate in a high - level range, and buying on dips can be considered [13]. Energy and Chemicals - **Methanol**: The inland methanol market is weak, and the port market has a strong basis in the morning. Inventory is rising, supply is expected to increase, and demand is weak. It may fall in the short term but is supported by gas restrictions and cost factors [15]. - **PP**: The PP market is in a weak and volatile state. The demand has improved, but the supply growth rate is too fast, leading to increased inventory. With the approaching of the off - season, the price is expected to continue to decline [15]. - **LLDPE**: The polyethylene market price is adjusted. The core contradiction is the continuous accumulation of supply pressure, and the demand support is weakening. The price is expected to be under pressure [16]. - **Urea**: The urea market fluctuates slightly. Supply pressure persists, demand is differentiated, and the price is under downward pressure in the short term but may stabilize in the medium - to - long term [16]. Agricultural Products - **US Soybeans**: The US soybean futures price rose overnight. The export inspection volume was in line with expectations, and the monthly crushing volume reached a record high [17]. - **Soybean and Rapeseed Meal**: The domestic soybean meal supply - demand is loose, the inventory is high, and the risk of a future gap is reduced. With the weakening of US soybeans, the price may correct, but it may also stabilize later [18]. - **Soybean and Rapeseed Oil**: The soybean oil market has a situation of strong supply and weak demand but is supported by the oil mill's price - holding and export rumors. The rapeseed oil inventory is decreasing, and the price is supported [19]. - **Palm Oil**: Malaysia lowered the reference price of crude palm oil in December, and the export volume decreased significantly in November. The domestic inventory increased, and the price is expected to fluctuate widely in the short term [20]. - **Corn**: The current corn inventories in northern ports, feed enterprises, and deep - processing enterprises are low. The futures price may correct the basis, and the price is expected to be slightly stronger [20]. - **Pigs**: The pig price was weak over the weekend. The winter consumption peak has not fully arrived, and the supply is in excess. The price is expected to decline in the short term, but there is some support from farmers' reluctance to sell [21].

Group 1 - The core viewpoint of the news is that Qianli Technology's stock performance and financial metrics indicate a mixed outlook, with significant financing activity and growth in revenue and profit, but also a high financing balance relative to market capitalization [1][2][3] Group 2 - As of November 17, Qianli Technology's stock price decreased by 0.71%, with a trading volume of 315 million yuan. The net financing purchase on that day was 99,800 yuan, with a total financing and securities lending balance of 1.567 billion yuan [1] - The financing balance of Qianli Technology is 1.564 billion yuan, accounting for 3.10% of its circulating market value, which is above the 90th percentile of the past year, indicating a high level of financing [1] - On the securities lending side, Qianli Technology repaid 4,100 shares and sold 2,700 shares on November 17, with a remaining securities lending balance of 296,450 yuan, which is below the 40th percentile of the past year, indicating a low level of securities lending [1] - For the period from January to September 2025, Qianli Technology achieved operating revenue of 6.946 billion yuan, a year-on-year increase of 44.27%, and a net profit attributable to shareholders of 53.2794 million yuan, a year-on-year increase of 33.37% [2] - The company has distributed a total of 1.406 billion yuan in dividends since its A-share listing, with no dividends distributed in the past three years [3] - As of September 30, 2025, the number of shareholders of Qianli Technology increased by 7.96% to 63,100, while the average circulating shares per person decreased by 7.37% to 71,672 shares [2][3] - Among the top ten circulating shareholders, Hong Kong Central Clearing Limited is the fifth largest, holding 66.3516 million shares, an increase of 18.6621 million shares compared to the previous period [3]

Core Points - The event is a specialized job fair for university students in Zhengzhou, organized by the Jinshui District Human Resources and Social Security Bureau and the Dongfeng Road Street Office on November 22, 2023 [1] - The job fair targets various urgent employment groups, including young talents, high-level talents, recent graduates, and unemployed youth [1] - Over 11,000 job positions will be available across multiple industries, including finance, biochemistry, environmental technology, education, manufacturing, and more [1] Industry Summary - The participating companies span diverse sectors such as finance, biochemistry, environmental technology, education, mechanical manufacturing, precision electronics, digital intelligence, tourism, cultural media, law, building materials, and food [1] - Job positions will cover a wide range of professional categories, focusing on software development, management trainees, new media operations, e-commerce, foreign trade, technical research and development, project management, administration, design, finance, engineering, broadcasting, law, marketing, and internships [1] Event Details - The job fair will take place on November 22, 2023, from 9:00 AM to 12:00 PM at the first floor hall of Zhihui City [1] - The venue is accessible via the subway line 7, with specific directions provided for attendees [1] - Additional features at the event include a recruitment area, a company display area, and mobile options for resume submission [1]