（编辑 丛可心 袁冠琳） 证券日报网讯 12月24日，金凯生科在互动平台回答投资者提问时表示，公司医药领域的产品主要为医 药中间体及原料药，严格规范的质量管理始终贯穿于产品研发、生产到交付的整个服务周期。公司国内 生产基地建立了ISO管理体系并持续获得认证通过，公司美国生产基地建立了cGMP体系并获得美国、 日本的药品监督管理机构现场检查通过。前述的质量体系建设是公司能够通过国际制药企业审厂并成为 其合格供应商的基础，也是公司产品质量能够符合标准的根本保证。 ...

另有接近小红书的第三方人士表示，根据目前所获线索，暂未发现消费者发布的相关内容中存在虚构个人经历等违规情况，有更多线索后会持续进行研判 及回查。 多家媒体报道称，12月23日，云南丽江市古城区文化和旅游局公开发布《关于请小红书平台强化丽江市婚拍领域信息审核监管和监测的函》。文件中提 到，小红书在履行平台信息监测及管理方面的主体责任和审核义务不到位，导致大量消费者为达到其超合理诉求，在企业无过错责任情况下利用平台发布 不实避雷帖、曝光帖等内容，威胁企业退钱退款的情况，企业针对此类不实内容申诉难，造成大量企业商誉受到诋毁，退单退订大面积发生。 针对丽江古城喊话审核"避雷帖"，12月24日，小红书客服回应新京报贝壳财经记者称，小红书一直以来鼓励真诚、真实的经验分享，持续治理虚构个人经 历、夸大不实等违规内容。目前，平台设有多个受理举报及侵权的公开渠道，商家可以对存在争议的笔记内容进行举报并提交证据材料，后续会有平台工 作人员进行审核。若确认内容存在违规行为，平台会尽快处理。 同仁堂致歉 罗永浩吐槽"宽带缩水"，上海电信回应 据丽江市古城区旅拍行业协会调查摸排，截至12月，因不实避雷帖企业退订100余万元，间接损失超 ...

截至发稿，佐力药业市值为119亿元。 每经头条（nbdtoutiao）——左手"欠款"右手"豪购"！杨陵江收购"国内酒庄第一股"，1919是否重启上 市？"吹太多牛都实现了，但千亿还没实现，我很着急" （记者 曾健辉） 每经AI快讯，佐力药业（SZ 300181，收盘价：16.98元）发布公告称，2025年12月23日15:00-16:00，佐 力药业接受东吴证券等投资者调研，公司董事、总经理汪涛先生，董事、常务副总经理冯国富先生，董 事会秘书吴英女士参与接待，并回答了投资者提出的问题。 2025年1至6月份，佐力药业的营业收入构成为：医药制造占比78.39%，医药流通占比21.35%，其他业 务占比0.26%。 ...

Core Viewpoint - The 2025 version of the "Encouragement Directory for Foreign Investment" has been released, aiming to attract more foreign investment into advanced manufacturing, modern services, high-tech, and energy-saving sectors, particularly in China's central and northeastern regions [1][2][3]. Group 1: Background and Purpose - The revision of the 2025 version of the "Encouragement Directory" is part of the government's strategy to enhance foreign investment, as emphasized in various national policies and reports [2]. - The revision process involved extensive consultations with foreign investment enterprises, associations, experts, and local governments to gather diverse opinions [2]. Group 2: Key Changes in the Directory - The 2025 version includes a total of 1,679 entries, an increase of 205 entries compared to the 2022 version, with 303 entries modified [3]. - The directory consists of two parts: a national directory applicable nationwide and a regional directory for central and northeastern regions [3]. Group 3: Focus Areas for Foreign Investment - The directory continues to prioritize advanced manufacturing, adding new categories such as the development and production of nucleic acid drugs, smart detection equipment, and underwater robots [4]. - It encourages investment in modern services, including new material technology platforms, high-end shipping services, and various consumer service sectors [4]. Group 4: Regional Investment Incentives - The directory has increased entries for specific regions based on local resources and industrial advantages, such as new tourism services in Liaoning and advanced machinery in Henan [5]. Group 5: Incentives for Foreign Investment - Industries listed in the directory can benefit from several incentives, including tax exemptions on imported equipment, preferential land supply, reduced corporate tax rates in certain regions, and tax credits for reinvested profits [6]. Group 6: Implementation and Support Measures - The Ministry of Commerce plans to promote the 2025 directory through outreach programs and ensure that foreign enterprises can fully benefit from the policies [7]. - There will be efforts to improve supporting measures and provide assistance to foreign enterprises facing challenges in policy implementation [7].

Macroeconomic Overview - The U.S. GDP growth for Q3 exceeded expectations, with an initial annualized rate of 4.3%, compared to a forecast of 3.3% and a previous quarter's final value of 3.8% [4] - Personal consumption expenditures rose from 2.5% in Q2 to 3.5% in Q3, surpassing the expected 2.7% [4] - Exports increased significantly by 8.8%, while imports decreased by 4.7% [4] Industry Insights Precious Metals - International gold and silver prices reached historical highs, with COMEX gold futures at $4,515 per ounce (up 1.02%) and silver at $71.61 per ounce (up 4.44%) [7] - The rise in precious metals prices is attributed to market expectations of continued interest rate cuts by the U.S. government [7] Medical Supplies - The sixth batch of high-value medical consumables procurement has been officially launched, including drug-coated balloons and urological intervention consumables, with bidding set for January 13, 2026 [8] - The introduction of anchor pricing and a multi-repetition mechanism is expected to prevent malicious competition, although significant price declines are anticipated [8] Automotive Industry - Retail data for January-November 2025 shows that major brands like BYD, Volkswagen, and Toyota dominate the market, with the top ten brands holding a combined market share of 51.7% [10] - The competitive landscape remains fragmented, with ongoing price wars likely due to the lack of a dominant market structure [10] - Demand resilience in the battery supply chain is noted, but profitability will depend on product structure and bargaining power [10] Air Conditioning Sector - The air conditioning industry experienced a significant decline in production and sales in November, with production and sales down approximately 37% and 32% year-on-year, respectively [12] - The decline is attributed to high base effects from previous government subsidy policies and abnormal weather conditions [12] - A cautious outlook is maintained for the industry, with production plans for January 2026 indicating a year-on-year increase of about 21% [12]

Core Points - The State Development and Reform Commission and the Ministry of Commerce have released the "Encouragement Directory for Foreign Investment Industries (2025 Edition)", which will take effect on February 1, 2026, and includes a total of 1,679 entries, an increase of 205 entries compared to the 2022 version [1][3] - The new directory aims to encourage foreign investment in advanced manufacturing, modern services, and specific regions such as the central and western areas, Northeast China, and Hainan Province [1][4] Summary by Categories National Encouragement Directory - The national directory now contains 619 entries, with an increase of 100 entries and 131 modifications compared to the previous version [1] - It emphasizes the encouragement of foreign investment in advanced manufacturing, expanding entries related to terminal products, components, and raw materials to enhance the development level of the industrial chain and supply chain [1][4] Regional Encouragement Directory - The regional directory has 1,060 entries, with an increase of 105 entries and 172 modifications [1] - It aims to promote foreign investment in the central and western regions, Northeast China, and Hainan Province, taking into account local resource endowments, unique advantages, and industrial development realities [1][4] Key Changes - The directory has added or expanded entries in advanced manufacturing and modern service sectors, including business services, technical services, scientific research, and service consumption, to promote high-quality development in the service industry [1][4]

Core Insights - The eighth China International Import Expo was held in Shanghai from November 5 to 10, showcasing 43 traditional and foreign trade enterprises from Shandong Province, with nearly 90,000 visitors and a record number of intended orders [1] Group 1: Exhibition Highlights - The Shandong Pavilion featured innovative displays, combining foreign trade products with traditional brands, organized into six thematic exhibition areas that highlight the complete industrial ecosystem from traditional craftsmanship to modern manufacturing [1] - Notable representatives from the "Qilu Famous Snacks" category included brands like Chaoyixing and Yefengsu, which leveraged the expo platform to expand their collaborative networks [1] - The health sector was represented by companies such as Hongjitang and Huangyuanyu, showcasing cutting-edge achievements and innovations [1] Group 2: Product Launches and Innovations - During the expo, the Shandong Pavilion hosted nearly 10 new product launches, including "Qilu Six Rhythms" jewelry and "Jinshanghua" five-color tea, integrating traditional craftsmanship with contemporary design [2] - Dezhou Braised Chicken introduced a series based on ecological free-range practices, emphasizing health-conscious eating culture [2] - Luweizhai launched a gift box of Shandong-style marinated dishes, leveraging its 128-year-old traditional recipe [2] Group 3: International Collaborations - The Shandong Pavilion achieved significant outcomes, including a signing ceremony for the "Shandong Old Brand Global Tour" in New Zealand, resulting in multi-million dollar orders for Dezhou Braised Chicken and Luweizhai [3] - Dezhou Braised Chicken's classic series attracted interest from Russian buyers, while its younger series "Luxiaoji" gained recognition in Malaysia, with ongoing negotiations for expansion into Southeast Asia and Africa [3] - The Shandong Pavilion's approach of combining technology and culture marked a transition from merely selling products to showcasing an ecosystem, reflecting the innovative spirit of Shandong's old brands [3]

Core Insights - Hainan officially launched its full island closure operation on December 18, 2025, which is perceived as a shopping paradise but has deeper implications for the national economy and food security [1][39] Group 1: Economic Implications - The closure allows for a significant increase in the number of zero-tariff goods from 1,900 to 6,600, meaning approximately 74% of product categories entering Hainan will be tariff-free [9][39] - The "processing and value-added 30% tariff exemption" policy enables imported raw materials to be processed in Hainan and sold to mainland China without additional tariffs if their value is increased by 30% [10][18] - This policy creates a "price buffer zone" that can stabilize domestic prices during international market fluctuations, ensuring that food prices remain manageable for consumers [16][39] Group 2: Agricultural Development - Hainan is positioned as a critical area for seed development, with over 70% of new crop varieties in China having been cultivated in the "South Breeding Valley" [22][29] - The closure facilitates easier access for foreign seed resources, enhancing research and innovation in agricultural technology [28][39] - The strategic focus on self-sufficiency in seed production is crucial for national food security, allowing China to reduce reliance on foreign imports [20][39] Group 3: Strategic Positioning - Hainan serves as a vital gateway for China to the Pacific and Indian Oceans, enhancing its role in global supply chains and acting as a "safety house" amid potential disruptions [34][37] - The closure is part of a broader strategy to test economic resilience and regulatory frameworks in an open environment, preparing for potential global trade challenges [39]

转自：草原云 12月23日，记者从内蒙古自治区药品监管局获悉，该局日前出台行政许可、行政检查、行政强制、行政 奖励四个领域的行政执法裁量权基准，与此前已建立的行政处罚裁量基准体系全面衔接，实现药品监管 领域行政执法裁量基准全环节、无死角覆盖，为"两品一械"（药品、医疗器械、化妆品）监管提供统一 精准的执法标尺。 内蒙古自治区药监局第二检查分局监管人员深入一家蒙药企业提供"一对一"指导。 内蒙古日报•草原云记者：李国萍 此次发布的系列基准以"两品一械"监管为核心，系统构建全链条行政执法裁量框架。在行政许可领域， 基准覆盖26个许可事项的66个子项，逐项明确申请条件、材料标准、办理时限及审批权限，推动许可流 程标准化、办理尺度统一化，提升行政许可服务效能；在行政检查领域，清晰划定自治区、盟市、旗县 （区）三级监管事权边界，对15类重点检查事项的频次、标准量化细化，促进日常检查与稽查执法高效 衔接，提升监管精准度；在行政强制领域，基准聚焦12项行政强制措施，明确适用条件、启动程序及解 除情形，彰显包容审慎监管理念；在行政奖励领域，基准细化社会监督奖励条件、裁量等级及申报兑付 流程，以正向激励引导社会力量参与，构建多 ...

中国基金报记者 储是 隔夜美股市场，标普500指数创新高。英伟达领涨科技股，市值重回4.6万亿美元。继黄金、 白银后，铜价也创下新高 。 标普500指数创新高 美东时间12月23日（周二），美股盘中持续走强，三大指数均收涨，其中标普500指数收于 新高。 截至收盘，标普500指数上涨0.46%，报6909.79点；道琼斯指数上涨0.16%，报48442.41 点；纳斯达克综合指数上涨0.57%，报23561.84点。 | 美股指数 它 | | | | --- | --- | --- | | 道琼斯 | 纳斯达克 | 标普500 | | 48442.41 | 23561.84 | 6909.79 | | +79.73 +0.16% | +133.01 +0.57% | +31.30 +0.46% | | 中国金龙指数 | 纳指100期货 | 标普500期货 | | 7638.99 | 25811.50 | 6958.00 | | -44.27 -0.58% | +119.25 +0.46% | +27.75 +0.40% | 日内，美国总统特朗普表示，不同意他观点的人永远不会成为美联储主席。他希望新任美联 储主 ...