Report Summary 1. Industry Investment Rating No investment rating information is provided in the report. 2. Core View The report focuses on the continuous price differentiation in the upstream industry and provides an overview of mid - level events, industry status in the upstream, mid - stream, and downstream sectors. Upstream prices show a trend of divergence, with some rising and some falling, while the mid - stream and downstream industries have their own development characteristics such as low - level operation in some mid - stream industries and recovery in some downstream industries. 3. Summary by Related Catalogs Mid - level Event Overview - **Production Industry**: The State Administration for Market Regulation has deployed key tasks for 2026, including deepening fair competition governance, breaking administrative monopolies, strengthening anti - monopoly and anti - unfair competition law enforcement, promoting the development quality of business entities, and strengthening the regular supervision of the platform economy [1] - **Service Industry**: The 2026 Tariff Adjustment Plan will be implemented from January 1, 2026, with 935 items of goods subject to import provisional tax rates lower than the most - favored - nation tax rates, and new national sub - items added. Also, regulations on the deduction of advertising and business promotion expenses for certain industries have been announced [2] Industry Overview - **Upstream**: In the chemical industry, PTA prices are rising; in the non - ferrous metals sector, copper prices are rising; in the energy industry, LNG prices are falling [3] - **Mid - stream**: Chemical product start - up rates are at a low level, power plant coal consumption is increasing, and asphalt start - up is in the off - season [4] - **Downstream**: The sales of commercial housing in first, second, and third - tier cities are continuously warming up, and the number of domestic flights is increasing [4] Key Industry Price Index Tracking - **Agriculture**: On December 29, the spot prices of corn, palm oil, cotton, and the average wholesale price of pork increased year - on - year, while the spot price of eggs decreased [37] - **Non - ferrous Metals**: On December 29, the spot prices of copper, zinc, aluminum, and nickel increased year - on - year [37] - **Ferrous Metals**: On December 29, the spot price of线材 increased year - on - year, while the spot prices of rebar and iron ore decreased slightly [37] - **Non - metals**: On December 29, the spot price of natural rubber increased year - on - year, while the spot price of glass and the China Plastic City price index decreased [37] - **Energy**: On December 29, the spot prices of WTI crude oil and Brent crude oil increased slightly year - on - year, while the spot price of liquefied natural gas and coal price decreased [37] - **Chemical Industry**: On December 29, the spot price of PTA increased year - on - year, while the spot price of polyethylene decreased [37] - **Real Estate**: On December 29, the cement price index and the building materials composite index decreased slightly year - on - year, and the concrete price index remained unchanged [37]

2025年是很不平凡的一年，面对国内外形势带来的严峻挑战，以习近平同志为核心的党中央团结带领全 党全国各族人民迎难而上、奋力拼搏，经济社会发展主要目标将顺利完成，"十四五"即将圆满收官。我 国经济顶压前行、向新向优发展，改革开放迈出新步伐，民生保障更加有力，社会大局保持稳定。这些 成绩来之不易。 在这一过程中，新质生产力、扩大内需、高水平开放、风险化解、适度宽松、绿色转型等关键词为发展 提供了最鲜明的注脚，也是中国经济重要发力点所在。围绕这些关键词，有哪些政策出台、有哪些最新 进展，未来又有哪些新期待？我们一一盘点。 新质生产力 促新动能不断积聚 2025年，我国围绕科技创新和产业升级加快培育发展新质生产力，新动能不断积聚，高质量发展的基础 更加稳固、成效更加显现。 传统产业是现代化产业体系的基底，是加快发展新质生产力的重要力量。2025年，工信部发布钢铁、建 材、机械、石化等十大行业稳增长行动方案，推动相关产业科技创新不断强化，助力传统优势行业加快 向数字化、智能化、绿色化转型升级。 战略性新兴产业、未来产业是培育和发展新质生产力的主阵地。2025年，新能源汽车、光伏、锂电池等 优势产业培育壮大；柔性定制、 ...

Report Summary 1. Report Industry Investment Rating - Not mentioned in the report. 2. Core Viewpoints - The upstream prices are showing a differentiated trend, with nickel prices rising, egg prices falling, and oil and liquefied natural gas prices dropping. The mid - stream has a low - season for chemical product production, increased coal consumption in power plants, and low asphalt construction rates. The downstream real - estate market is warming up, while domestic flight frequencies are decreasing [1][2][3]. 3. Summary by Related Catalogs Upstream - **Non - ferrous Metals**: Nickel prices have rebounded significantly, with the price on December 25th at 127,383.3 yuan/ton, a year - on - year increase of 5.79% [2][37]. - **Agriculture**: Egg prices declined on the previous day, with the spot price on December 25th at 6.3 yuan/kg, a year - on - year decrease of 5.02% [2][37]. - **Energy**: Crude oil prices have corrected, and liquefied natural gas prices have continued to decline. The spot price of WTI crude oil on December 25th was 58.4 dollars/barrel, a year - on - year increase of 4.55%, and the spot price of liquefied natural gas was 3,356 yuan/ton, a year - on - year increase of 7.34% [2][37]. Mid - stream - **Chemical Industry**: It is the off - season for chemical product production [3]. - **Energy**: Coal consumption in power plants has increased [3]. - **Infrastructure**: Asphalt construction rates are at a low level [3]. Downstream - **Real Estate**: The sales of commercial housing in first, second, and third - tier cities have continued to pick up [3]. - **Services**: The number of domestic flights has decreased [3]. Industry Events - **Production Industry**: On the afternoon of December 25th, four leading silicon wafer companies jointly raised their prices significantly, with an average increase of 12%. The average price increase of various silicon wafer models this week is between 3.3% - 9.8%, mainly due to the large increase in upstream silicon material prices. The National Tobacco Monopoly Administration is soliciting opinions on promoting the supply - demand balance of the e - cigarette market [1]. - **Service Industry**: The People's Bank of China and seven other departments have issued a document to support the construction of the New Western Land - Sea Corridor, including exploring digital financial international cooperation and promoting cross - border payments using central bank digital currencies [1].

Report Summary 1. Industry Investment Rating - Not provided in the given content. 2. Core Viewpoints - The issuance of the first batch of L3-level highway autonomous driving vehicle special license plates in Beijing marks that China's autonomous vehicles have progressed from testing and demonstration to formal mass production, leading the way into the L3-level autonomous driving era, which is a milestone event in the automotive intelligentization process [1]. - The central government emphasizes the role of central enterprises in infrastructure construction, supply - chain autonomy, and technological self - reliance [1]. - The state has issued a notice to improve the kindergarten fee policy, including standardizing fee items and clarifying the principles for setting fee standards [2]. 3. Summary by Industry Directory Upstream - Energy: International crude oil prices have corrected, and liquefied natural gas prices have continued to decline [3]. - Chemical: The prices of PTA and urea have rebounded recently, while the price of polyethylene has declined [3]. Midstream - Chemical: The operating rate of chemical products has declined [4]. - Energy: The coal consumption of power plants has increased [4]. - Infrastructure: It is the off - season for asphalt construction [4]. Downstream - Real Estate: The sales of commercial housing in first, second, and third - tier cities have warmed up at the end of the year [4]. - Service: The number of domestic flight schedules has declined [4]. 4. Key Industry Price Indicators | Industry | Indicator | Price (7/1) | YoY | | --- | --- | --- | --- | | Agriculture | Spot price of corn | 2365.7 yuan/ton | 0.85% | | | Spot price of eggs | 5.6 yuan/kg | - 4.62% | | | Spot price of palm oil | 8600.0 yuan/ton | - 0.02% | | | Spot price of cotton | 15210.0 yuan/ton | 2.30% | | | Average wholesale price of pork | 20.2 yuan/kg | - 0.44% | | | Spot price of copper | 80235.0 yuan/ton | 2.25% | | | Spot price of zinc | 22258.0 yuan/ton | 0.56% | | Non - ferrous Metals | Spot price of aluminum | 20786.7 yuan/ton | 1.14% | | | Spot price of nickel | 121700.0 yuan/ton | 1.64% | | | Spot price of aluminum | 17018.8 yuan/ton | - 0.07% | | | Spot price of rebar | 3069.0 yuan/ton | - 0.07% | | Ferrous Metals | Spot price of iron ore | 726.6 yuan/ton | 0.48% | | | Spot price of wire rod | 3252.5 yuan/ton | - 0.08% | | | Spot price of glass | 13.9 yuan/square meter | 0.22% | | Non - metals | Spot price of natural rubber | 13928.3 yuan/ton | 2.88% | | | China Plastic City Price Index | 826.7 | - 0.79% | | Energy | Spot price of WTI crude oil | 65.1 dollars/barrel | - 4.96% | | | Spot price of Brent crude oil | 66.7 dollars/barrel | - 6.63% | | | Spot price of liquefied natural gas | 4056.0 yuan/ton | 2.17% | | | Coal price | 726.0 yuan/ton | - 0.27% | | | Spot price of PTA | 5081.7 yuan/ton | - 0.63% | | | Spot price of polyethylene | 7503.3 yuan/ton | - 0.90% | | Chemical | Spot price of urea | 1829.0 yuan/ton | 1.39% | | | Spot price of soda ash | 1325.0 yuan/ton | - 1.85% | | | National cement price index | 137.2 | - 0.43% | | Real Estate | Building materials comprehensive index | 110.7 points | - 0.22% | | | National concrete price index | 96.7 points | - 1.58% | [38]

街道持续实施高质量发展企业培育计划，建立常态化服务机制，健全"四包一"联系服务与帮办代办 制度，通过"问需纾困 暖企护航"大走访、企业家座谈会、政银企对接交流等活动，累计走访企业约300 家次，对税源企业、"四上"企业及成长性企业开展精准帮扶。持续加大重点企业培育力度，完善街 道"四上"企业培育库并实施动态管理，加大政策引导，鼓励"个转企、小升规"，持续壮大经济"基本 盘"。 街道探索老旧小区改造后"红色物业"示范点建设，形成"红色管家"运营"红色物业"服务"红色网 格"的创新思路，实现物业服务、防违治违等"一张网"管理。实施人居环境提升工程，巩固朱方路、金 山路路域环境整治效果，完成长江路整治与区文化馆周边环境提升，打造"金山福照地、烟火三茅宫"秀 美风光带。 街道坚持人民至上，聚焦群众身边的"急难愁盼"，持之以恒办好事、解难事、做实事。聚焦"一老 一小"关键群体，构建"专业机构+社区+居家"康养链条，升级"爱心暑托班+特色课程"的家社共育体系。 紧盯困难群体，动态完善困难群众信息库，优先保障低保、残疾、孤寡等群体救助，加强零就业家庭帮 扶，建成居家养老服务中心10家，切实兜牢民生底线。（孔雪 潘倩 苏妍 ...

巴西媒体综合报道，12月10日以来，圣保罗大区发生的大范围停电持续冲击当地经济，商贸和服务 行业损失不断扩大。圣保罗州商品、服务和旅游联合会预计，总损失可达15亿雷亚尔，其中服务业约损 失10亿雷亚尔、商贸约损失5.1亿雷亚尔，若计入库存和固定成本，实际影响可能更高。圣保罗商业协 会表示，商贸领域两天内销售额损失约5170万雷亚尔。州酒店、餐厅和酒吧联合会估计超5000家企业受 影响，相关损失已超1亿雷亚尔。 （原标题：圣保罗大范围停电或导致商贸和服务行业损失15亿雷亚尔） ...

国家统计局最新公布的数据显示，今年1至11月份，我国社会消费品零售总额同比增长4%，累计增速好 于去年。核心数据稳定增长、结构持续优化升级、新动能加快培育……前11个月，我国消费市场有看点 有新意。 看总量。在去年同期基数逐步抬高的背景下，今年社会消费品零售总额始终保持平稳增长态势。1至11 月份，社会消费品零售总额增长4%，增速比上年同期高0.5个百分点；扣除汽车类商品后，消费品零售 额增长4.6%，增速比上年同期高0.9个百分点。 看结构。服务消费成为引领增长的核心动力。1至11月，服务零售额同比增长5.4%，且占比持续提升。 文化和数字消费供给持续优化，文体休闲服务类零售额延续两位数增长，全国电影票房收入同比增长 19.5%。国家统计局新闻发言人付凌晖分析，居民精神文化需求不断扩大，文化体育等消费新场景新供 给加快培育，冰雪运动等体育活动普及发展，促进了相关服务零售较快增长。 看需求。在消费需求升级的带动下，美容化妆、金银饰品等相关商品销售增势较好。11月份限额以上单 位化妆品类、金银珠宝类商品零售额同比分别增长6.1%、8.5%。此外，银发群体消费需求增加，带动 养老服务需求多元增长。1至11月份，老 ...

Group 1 - The core viewpoint emphasizes the shift in consumer behavior towards quality, experience, and emotional resonance in shopping, driven by the trend of consumption upgrading [1][4] - The implementation of free admission in popular tourist attractions, such as the Lingyin Feilai Peak Scenic Area, resulted in a 70% increase in visitor numbers compared to the same period last year, demonstrating that eliminating entrance fees can enhance overall spending through extended consumer engagement [1] - The "241 algorithm" in Hangzhou indicates that for every additional 24 hours a tourist stays, the city's annual tourism revenue increases by 10 billion yuan, highlighting the economic benefits of longer visitor stays [1] Group 2 - The "14th Five-Year Plan" suggests a strong focus on boosting consumption by innovating consumption scenarios, improving consumer experiences, and optimizing the consumption environment, which are crucial for achieving a dynamic balance between supply and demand [2] - In the first 11 months of the year, over 960 new stores opened in Beijing, integrating intangible cultural heritage and global aesthetics into consumption scenarios, which continuously stimulates consumer vitality [2] - The rise of instant retail, supported by local retail supply, has become a new growth driver for China's retail industry, showcasing the transformative impact of scenario innovation on consumption [2] Group 3 - The introduction of national standards for various sectors, including ice sports and green furniture, aims to enhance consumer confidence and protect rights, thereby fostering a more favorable consumption environment [3] - The implementation of over 40 national standards in service consumption sectors, such as sports and dining, is expected to drive the transformation towards new, green, and high-quality service consumption [3] Group 4 - From 2013 to 2024, domestic demand is projected to contribute an average of 93.1% to economic growth, with final consumption expenditure expected to account for 44.5% of economic growth by 2024, indicating the resilience and potential of the Chinese consumer market [4] - The contribution of consumption to economic growth has already surpassed 50% in the first half of this year, underscoring the importance of optimizing the consumption environment to enhance consumer confidence and release domestic demand potential [4] - A new era of consumption characterized by comfort and quality is emerging, with a strategic focus on expanding domestic demand to support high-quality economic development [4]

Core Insights - A new company named Fuxiang Trading Co., Ltd. has been established in Dazhonghui Autonomous County with a registered capital of 10,000 RMB [1] Company Overview - The legal representative of the company is Nie Shixiang [1] - The company operates in various sectors including fresh meat retail, agricultural product wholesale and retail, daily necessities sales, and office equipment sales [1] - The company is also involved in professional cleaning, disinfection services, and digital advertising design and agency [1] Business Scope - The general business scope includes fresh meat retail, agricultural product wholesale and retail, daily necessities sales, and various types of equipment sales [1] - The company has specific licensed activities such as food sales and internet food sales, which require approval from relevant authorities [1]

天眼查App显示，近日，上海一禾一木实业有限公司成立，法定代表人为崔理想，注册资本10万人民 币，经营范围为一般项目：食用农产品批发；塑料制品销售；体育用品及器材零售；交通及公共管理用 标牌销售；家具销售；服装服饰批发；照明器具销售；金属制品销售；广告设计、代理；咨询策划服 务；广告制作；花卉绿植租借与代管理；专业设计服务；办公用品销售；日用杂品销售；餐饮管理；日 用百货销售；建筑装饰材料销售；特种劳动防护用品销售；国内贸易代理；厨具卫具及日用杂品零售； 家用电器销售；针纺织品销售；个人卫生用品销售；纸制品销售；供应链管理服务；办公服务；专业保 洁、清洗、消毒服务；技术服务、技术开发、技术咨询、技术交流、技术转让、技术推广；国内货物运 输代理；组织文化艺术交流活动。（除依法须经批准的项目外，凭营业执照依法自主开展经营活动）许 可项目：食品销售。（依法须经批准的项目，经相关部门批准后方可开展经营活动，具体经营项目以相 关部门批准文件或许可证件为准）。 ...