Core Insights - Guangdong has outlined its economic roadmap for 2026, emphasizing five key areas: reform and opening up, expanding domestic demand and optimizing supply, strengthening regional development and maritime expansion, improving people's livelihoods, and risk prevention [2][4]. Group 1: Reform and Opening Up - The focus on "grasping reform and promoting opening up" is prioritized, indicating a shift from short-term demand issues to long-term growth through deep reforms and high-level openness [3][6]. - Guangdong aims to deepen reforms and expand high-level openness to build a vibrant and internationally competitive bay area and world-class city cluster [2][3]. Group 2: Domestic Demand and Supply Optimization - The strategy includes expanding domestic demand while optimizing supply, with a focus on enhancing the modern industrial system led by advanced manufacturing and technological innovation [2][7]. - In 2025, Guangdong's retail sales of consumer goods grew by 2.5%, with a notable increase in new energy vehicle sales, indicating a shift in consumer behavior towards new consumption patterns [7][9]. Group 3: Foreign Trade and Service Trade - Guangdong's foreign trade is expected to stabilize and grow, with a reported total import and export value of 86,135.4 billion yuan in the first 11 months of 2025, a 4.2% increase year-on-year [4][5]. - The service trade sector has shown significant growth, with a total import and export value of 72,023.7 billion yuan in 2025, reflecting a 7.1% increase [5][6]. Group 4: Innovation and New Industries - The emphasis on artificial intelligence as a key driver of economic growth highlights the need for Guangdong to foster new productive forces and enhance the quality of supply [2][10]. - The province aims to integrate technological innovation with industrial innovation to create new productive forces, ensuring high-quality development [10].

Core Insights - China's service trade showed steady growth from January to November 2025, with a total import and export value of 72,023.7 billion yuan, reflecting a year-on-year increase of 7.1% [1][3] Summary by Categories Overall Service Trade Performance - The total service trade export reached 31,980.1 billion yuan, marking a growth of 13.4% - The total service trade import was 40,043.6 billion yuan, with a growth of 2.5% - The service trade deficit stood at 8,063.5 billion yuan, which is a decrease of 2,796.3 billion yuan compared to the previous year [1][3] Knowledge-Intensive Service Trade - Knowledge-intensive service trade maintained growth, with imports and exports totaling 27,305.7 billion yuan, an increase of 5.6% - Specific segments such as other business services and telecommunications, computer, and information services had import and export values of 11,776.8 billion yuan and 9,592.1 billion yuan, with growth rates of 4.1% and 8.3% respectively - Knowledge-intensive service exports reached 16,014.7 billion yuan, growing by 8.5%, while imports were 11,291 billion yuan, increasing by 1.7% - The surplus in knowledge-intensive services expanded by 1,067.4 billion yuan to 4,723.7 billion yuan compared to the same period last year [1][3] Travel Services - Travel services experienced rapid growth, with total imports and exports reaching 19,762.7 billion yuan, an increase of 8.2% - Travel service exports surged by 51.3%, while imports grew by 1.9% [1][3]

Core Viewpoint - China's merchandise trade exports have shown a year-on-year growth rate of 6.2% in the first 11 months of this year, exceeding initial expectations despite high tariffs imposed by certain countries, reflecting the resilience brought by the long-term transformation and upgrading of the manufacturing industry and diversification of trade partners [1] Group 1: Export Performance - The export structure of China has improved, with intermediate goods and capital goods showing significant growth rates of 9.7% and 6% respectively in the first ten months, contributing 5.6 percentage points to overall export growth [1] - Intermediate goods accounted for 47.4% of total exports in the first three quarters, an increase of 2 percentage points compared to the end of last year [1] Group 2: Trade Partner Diversification - Exports to the U.S. have decreased by 18.3%, but exports to non-U.S. markets such as Africa, ASEAN, India, the EU, the UK, Latin America, and Australia have maintained high growth, effectively offsetting the decline in exports to the U.S. [2] - The meeting between the Chinese and U.S. leaders in Busan has yielded positive results, leading to a more optimistic outlook for foreign trade in the coming year [2] Group 3: Future Strategies - Continued promotion of manufacturing transformation and upgrading is essential, with a focus on integrating technological and industrial innovation to enhance the self-controllability of the industrial chain [3] - The service sector's export potential is significant, with service trade exports growing by 14.3% in the first ten months, including a 52.5% increase in travel service exports [3] Group 4: Multilateral Trade System - China has actively supported the multilateral trade system by proposing initiatives at the WTO and committing to not seek new special and differential treatment in current and future negotiations [4] - Plans for steady institutional opening and expanding service sector openness are underway, along with efforts to sign more regional and bilateral trade investment agreements to facilitate the free flow of goods, services, and investments [4]

Core Viewpoint - The article highlights the serious violations of the Central Eight Regulations by officials in Shaanxi Province, particularly focusing on the misconduct of Fang Youwei, the former Party Secretary and Chairman of Shaanxi Forestry Group, which has led to significant financial issues for the company [1][2]. Group 1: Company Overview - Shaanxi Forestry Group Co., Ltd. was established in September 2014 as a state-owned enterprise, primarily engaged in forestry operations, forest products industry, forest tourism, and service trade [1][2]. Group 2: Misconduct Cases - Fang Youwei's tenure from January 2018 to April 2024 was marked by blind expansion and deviation from core business, resulting in a significant increase in total liabilities and debt-to-asset ratio, leading to long-term losses for the group [1][2]. - Other officials, including Kang Jun and Ding Tao, were also reported for accepting gifts, improper banquets, and misusing public resources, reflecting a broader issue of corruption and misconduct within the local government [3][4][5]. - The article emphasizes the need for strict adherence to the Central Eight Regulations to combat persistent issues of corruption and misconduct among officials [6][7].

新华财经北京12月26日电国家外汇管理局公布2025年11月我国国际收支货物和服务贸易数据，2025年11 月，我国国际收支货物和服务贸易进出口规模44183亿元。其中，货物贸易出口22484亿元，进口15937 亿元，顺差6547亿元；服务贸易出口2465亿元，进口3298亿元，逆差833亿元。服务贸易主要项目为： 运输服务进出口规模1747亿元，旅行服务进出口规模1641亿元，其他商业服务进出口规模1038亿元，电 信、计算机和信息服务进出口规模569亿元。 按美元计值，2025年11月，我国国际收支货物和服务贸易出口3516亿美元，进口2711亿美元，顺差805 亿美元。 （文章来源：新华财经） ...

按美元计值，2025年11月，我国国际收支货物和服务贸易出口3516亿美元，进口2711亿美元，顺差805 亿美元。 服务贸易主要项目为：运输服务进出口规模1747亿元，旅行服务进出口规模1641亿元，其他商业服务进 出口规模1038亿元，电信、计算机和信息服务进出口规模569亿元。 国家外汇管理局12月26日发布数据显示，2025年11月，我国国际收支货物和服务贸易进出口规模44183 亿元。其中，货物贸易出口22484亿元，进口15937亿元，顺差6547亿元；服务贸易出口2465亿元，进口 3298亿元，逆差833亿元。 ...

Core Viewpoint - The 2026 China International Service Trade Fair (CIFTIS) will be held from September 9 to 13, 2026, at Shougang Park, with participation from over 10 countries and international organizations, including major global companies [1][2]. Group 1: Event Details - The CIFTIS has been held annually since its inception in 2012, successfully hosting 12 editions and attracting 1.47 million exhibitors and visitors from nearly 200 countries and regions [1]. - Starting in 2025, the fair will be fixed to the second week of September each year, maintaining a five-day duration [1]. - Shougang Park is undergoing upgrades to become a permanent venue for the fair, transforming into a multifunctional "exhibition town" by September 2024 [1]. Group 2: Participation and Exhibits - The 2026 fair will feature high-profile global service trade summits, inviting foreign dignitaries, international organization leaders, and CEOs of multinational companies to speak [1][2]. - The event will include specialized exhibitions focusing on key service trade sectors such as financial services, cultural tourism, education, and sports, showcasing new technologies and applications in the service industry [2]. - A new "Overseas Zone" and a small and medium-sized enterprise (SME) exhibition area will be introduced, highlighting China's service and technology exports [2].

12月23日，离岸人民币对美元率先升破7.02关口，为2024年10月以来首次，距离收复7.0整数关口仅"一 步之遥"。与此同时，在岸人民币对美元日内升破7.03关口，上涨近百点。 分析人士认为，美元指数走势趋弱与岁末结汇需求不断释放，构成了本轮人民币上涨的主要动力。展望 后市，丰厚的结汇盘仍将支撑人民币偏强运行，但出现单边快速升值的概率较低。 内外因素驱动人民币汇率维持强势 ◎记者 范子萌 临近岁末，人民币走出一波强势升值行情。 赵伟预计，结汇高峰的影响可能延续至次年1月。历史经验显示，在"结汇潮"支撑下，1月人民币汇率有 望较美元指数变动超升约0.8%。 中金公司研究部首席宏观分析师张文朗也认为，短期内人民币仍有升值空间，这一方面缘于市场对中国 经济转型韧性和新经济前景的认知改善，另一方面则是因为过去积累的未结汇贸易顺差可能随着汇率预 期改善而提升，形成潜在的境内资金流入支持。 近期，市场普遍关注人民币是否会"破7"。对此，庞溟表示，在结汇需求与外部因素叠加下，年末人民 币对美元汇率存在阶段性、短暂突破7.0关口的可能性，但更可能呈现双向波动态势。 中央经济工作会议指出，保持人民币汇率在合理均衡水平上的基 ...

Core Insights - The "Services Trade for Development" conference held in Geneva aims to assist developing countries in leveraging service trade for growth and development, transitioning from concept to actionable framework [1] - The WTO predicts that global commercial services trade volume will grow by 4.6% by 2025, significantly outpacing goods trade growth, with digital services expected to see growth rates of 6.1% and 5.6% in 2025 and 2026 respectively [1] Group 1: Economic Impact of Service Trade - The service sector has become a core driver of economic transformation in developing countries, essential for economic diversification, productivity enhancement, and resilience [2] - In Nigeria, the service sector accounts for 58% of GDP, with strengths in finance, creative industries, and technology services [2] - In Cambodia, service trade contributes over 40% to GDP and provides nearly 40% of employment [2] Group 2: Tools and Regulatory Framework - The conference introduced two tools: the Service Trade Competitiveness Diagnostic Dashboard and the Good Regulatory Practices Handbook, aimed at helping developing economies analyze their service sectors and identify regulatory bottlenecks [3] - The complexity of regulatory measures is limiting service trade, necessitating a strengthened and simplified regulatory framework for more inclusive growth [3] - The Services Trade for Development platform serves as a toolbox, sharing best practices and policy tools to support developing countries in enhancing their service export capabilities [3]

徐奇渊的主要观点： 制造业全球份额未受贸易战影响 并在美国以外落地开花 企业竞争力要 进一步转化为标准制定能力 形成以外促内 以内稳外的总体政策 明年中国与非美国家之间地 缘经济压力会更突出 万亿贸易顺差并不包含服务贸易 失衡没有那么大 经常账户顺差占GDP 比例仍明显低于4%标准 服务贸易是出口提质的必争之地 推进区域经济一体化 做大国际区 域内循环 明年美债或将总体稳定 但一旦通胀超预期将加剧波动 明年外贸继续稳定增长 但经 济拉动作用减弱 2026年投资增速将实现低位回升 近日，中国海关总署发布了一组数据令人关注：2025年前11个月，我国货物贸易顺差达到1.08万亿美 元，历史上首次突破1万亿美元大关，这是一个具备里程碑式的成就，不仅在中国外贸史上具有标志性 意义，在全球贸易史上也属首次。尽管面临美国关税围堵和全球贸易格局重构及逆全球化的双重压力， 中国出口仍保持强劲增长，前11个月出口额达3.41万亿美元，同比增长5.9%。 顺差创新高之后，中国外贸继续发展的前路在何方？在中央经济工作会议明确提出我们要"苦练内功应 对外部挑战"的认识下，我们需要内外共同发力，即保证竞争力，又扩大更多、更广的合作空间 ...