Market - US stock market closed higher on January 16, with chip and bank stocks leading the gains, as major indices rebounded after two consecutive days of decline [1] - TSMC reported a record net profit growth of 35% year-on-year for Q4, driving chip stocks up, with Nvidia and AMD also seeing gains [2] - Oil prices fell over 4% due to easing geopolitical tensions regarding Iran, which supported market sentiment [4] Macro - US cross-border investment inflows significantly improved in November, reaching $212.04 billion, compared to a revised outflow of $22.47 billion in October [4] - Several Federal Reserve officials indicated a preference to maintain current policy rates, citing stable labor markets and persistent inflation concerns [8][10] - The unemployment claims in the US dropped to 198,000, the lowest since November, indicating a resilient labor market despite some layoffs announced by large employers [20] Company - Goldman Sachs plans to raise $16 billion through bond issuance, marking the largest such issuance in Wall Street history [21] - Mission Produce acquired Calavo Growers for $430 million, but the announcement led to a 4.6% drop in Mission Produce's stock price [22] - Major Wall Street banks are expected to return over $140 billion to shareholders in dividends and stock buybacks in 2025, setting a new record [23] - Goldman Sachs and Morgan Stanley reported significant profit increases in Q4 2025, driven by a surge in trading activity [27]

Group 1 - The core viewpoint of the article emphasizes the positive significance of resolving the electric vehicle case between China and the EU under the framework of WTO rules, highlighting mutual respect and cooperation [1] - The announcement made on January 12, 2026, regarding the positive outcomes from multiple rounds of negotiations has garnered significant attention and is welcomed by both Chinese and European industries, indicating a "soft landing" that will boost market confidence and invigorate trade and investment cooperation [1] - European politicians have described the resolution as a positive step towards establishing a sustainable trade relationship between China and the EU, demonstrating the feasibility of resolving trade disputes through partnership [1] Group 2 - The Chinese side appreciates the dialogue spirit shown by the European side and expresses willingness to further implement the consensus reached during the China-EU leaders' meeting, maintaining communication and supporting deepened cooperation based on market principles [2] - The resolution is seen as beneficial for the healthy development of China-EU economic and trade relations, contributing to the stability of the global automotive industry supply chain and sending a clear signal of commitment to maintaining a rules-based international trade order [1]

"中国式现代化的实践证明，每个国家都要找到适合自身国情的道路。中国式现代化是全体人民共同富 裕的现代化，这种发展范式为广大发展中国家提供了新选择。"特立尼达和多巴哥联合民族大会党国际 关系书记尼古拉斯·莫里斯在接受本报记者采访时表示。 （文章来源：人民日报） 莫里斯此前到上海参访交流，洋山港码头的自动化作业给他留下深刻印象。该码头通过5G、北斗导 航、人工智能调度系统提升了综合效率，并依托无人驾驶运输车、智能堆场等完善了低碳设施布 局。"洋山港不只是在解决货物运输问题，而是创造性地拿出了系统性解决方案：降低碳排放，提高货 物运输效率，吸引投资，促进经济增长。这种系统性思维让发展更具可持续性。"莫里斯说，像特多这 样受气候变化影响较大的国家，更需要找到兼顾发展与环保的发展路径，"中国发展工业自动化积累的 经验很有启发和借鉴意义"。 走进特斯拉上海超级工厂，莫里斯进一步感受到"中国速度"：这个外商独资整车制造项目从签约到投产 仅用一年多。"特斯拉在中国的业绩十分亮眼，这得益于中国富有活力的政策。中国在科技领域大力培 养人才，非常了不起。"中国在电动汽车领域的快速发展，让莫里斯真切感受到，中国将推动绿色低碳 发展落 ...

柬埔寨公共工程与运输部发布的最新数据显示，2025年前9个月，柬埔寨电动汽车累计注册量达到10568 辆。记者在采访中发现，首都金边的街道上电动汽车数量明显增多，其中不乏比亚迪、上汽名爵等中国 品牌电动汽车。 "柬埔寨电动车市场仍处于起步阶段，但发展潜力巨大。"柬埔寨汽车工业联合会相关负责人表示，中国 新能源汽车技术成熟、供应链完善、市场经验丰富，中企将为柬埔寨电动车产业发展注入新动能。2025 年4月，比亚迪柬埔寨乘用车工厂在西港经济特区开工建设，同年12月正式投产，规划年产能1万辆。小 鹏汽车去年10月正式进入柬埔寨市场，提供旗下智能电动车产品销售及相关服务。去年底，中水电柬埔 寨分公司中标位于金边市的充电桩工程EPC总承包项目，计划未来3年进行约100个充电桩站的设计与施 工，以及采购并安装400台套充电桩设备。据悉，项目将分阶段延伸至柬埔寨全国范围，为当地新能源 汽车产业发展和绿色交通体系建设提供保障。 （文章来源：人民日报） 柬埔寨政府同时努力解决电动车充电难题。去年5月，柬埔寨矿产能源部发布了全国首个电动车充电服 务监管框架，明确充电设施的技术标准与安全规范等。同年7月，柬埔寨电力局推出充电桩电价 ...

Core Viewpoint - The article discusses Canada's economic challenges and its strategic pivot towards China amid rising U.S. tariffs and domestic economic downturns, highlighting the importance of pragmatic cooperation over ideological divides in global trade dynamics [3][31]. Economic Context - Canada's GDP fell by 0.3% in October 2025, marking the largest decline since December 2022, attributed to the adverse effects of U.S. tariff policies, with expectations of worsening impacts in 2026 [5]. - Over 70% of Canada's exports are directed to the U.S., making its economy highly sensitive to U.S. policy changes, particularly in the energy sector where Canadian oil prices are significantly discounted compared to international rates [7][9]. Trade Relations - Canada has invested 34 billion CAD in the Trans Mountain pipeline to diversify its oil exports, but U.S. plans to take control of Venezuelan oil could further reduce Canadian oil imports [9]. - A trade war has escalated between Canada and China, with Canada imposing a 100% tariff on Chinese electric vehicles and China retaliating with anti-dumping investigations and tariffs on Canadian agricultural products [14][16]. Public Sentiment - A significant portion of the Canadian public (62%) supports the removal of high tariffs on Chinese electric vehicles, indicating a shift in public opinion towards favoring trade agreements with China [16]. Energy Cooperation - In the first 11 months of 2025, Canada exported nearly 100 million barrels of oil to China, with the Trans Mountain pipeline generating substantial revenue, reducing the price discount on Canadian oil to under 10 CAD [18]. Global Trade Dynamics - The visit of Canadian Prime Minister Carney to China reflects a broader trend of countries seeking pragmatic relations with China despite U.S. pressures, as seen with leaders from Argentina and the UK also planning visits [20][22]. - The article emphasizes that the U.S. tariff policies have inadvertently increased costs for American companies, highlighting the competitive advantages of Chinese manufacturers in the electric vehicle sector [24]. Future Outlook - The upcoming discussions between Canada and China will focus on critical issues such as trade tariffs and agricultural exports, with the potential to reshape bilateral relations and global trade dynamics [33].

当日，《每日经济新闻》记者从商务部相关司局也了解到，采用"价格承诺"取代"征税"是双方政府共同磋商决定的，充分释放了中欧 双方管控摩擦的积极信号。通用指导文件由易到难取得共识，共同维护了以规则为基础的国际贸易秩序。 经过为期一年多的谈判，欧盟针对中国制造电动汽车反补贴关税取得重大进展——由"价格承诺"机制替代高额反补贴征税。 1月12日，据商务部官网消息，为落实中欧领导人会晤共识，妥善解决欧盟对华电动汽车案，中欧双方本着相互尊重的态度，进行了多 轮磋商。双方一致认为，有必要向对欧盟出口纯电动汽车的中国出口商，提供关于价格承诺的通用指导，以便中国出口商可通过更加 实用、有针对性且符合世贸组织规则的方式，解决相关关注。 图据比亚迪官网 在接受记者采访时，中国汽车工业协会（以下或简称中汽协）专务副秘书长魏文清表示，采用"价格承诺"方式向欧盟出口中国纯电动 汽车，是中欧双方经过数轮洽谈取得的重大利好成果。这既是中欧相向而行的结果，也是向外界释放双方进一步加强汽车产业合作共 赢发展的重要信号。 中国汽车流通协会乘用车市场信息联席分会（以下简称乘联分会）秘书长崔东树表示，中欧以"价格承诺"替代高额关税的磋商成果， 是双方 ...

Core Viewpoint - The negotiations regarding the EU's anti-subsidy measures on Chinese electric vehicles have made significant progress, with the EU set to issue guidelines for price commitment applications, allowing Chinese manufacturers to potentially avoid high tariffs by committing to minimum pricing [1][3]. Group 1: Background and Developments - The EU initiated an anti-subsidy investigation into Chinese electric vehicles in October 2023, leading to the imposition of high tariffs starting October 2024, with rates as high as 35.3% for non-cooperating companies [3]. - The recent agreement allows Chinese electric vehicle manufacturers to submit price commitments based on the EU's guidelines, which could replace the anti-subsidy tariffs [3][4]. - The agreement is seen as a "soft landing" for the ongoing trade tensions, with experts noting that it reflects a cooperative outcome between China and the EU [1][4]. Group 2: Market Implications - The new pricing commitments may not significantly alter the selling prices of Chinese electric vehicles in Europe, but they provide a more stable policy environment for long-term operations [4]. - The average selling price of Chinese electric vehicles in Europe is projected to be around €25,000 by 2025, compared to €30,000 for all imported electric vehicles [4]. - Chinese manufacturers have been facing an average price increase of 118% when selling vehicles in Europe compared to domestic prices, but the new agreement could allow for better profit margins [5]. Group 3: Industry Dynamics - The EU's policy aims to prevent aggressive price competition from Chinese manufacturers that could harm local automotive industries, while still allowing for a degree of flexibility in pricing [4][5]. - European automakers, such as Volkswagen and BMW, are expected to benefit from the revised tariff policies, as they have established production facilities in China and can leverage these changes for exports [6][12]. - The collaboration between Chinese and European automakers is anticipated to deepen, with joint ventures and investments in technology and production facilities becoming more common [13].

Core Viewpoint - The article discusses the recent visit of Canadian Prime Minister Carney to China and highlights the importance of trade relations between China and Canada, as well as the resolution of trade disputes with the European Union regarding electric vehicles [3][7]. Group 1: China-Canada Trade Relations - China and Canada support economic globalization and trade liberalization, with significant common interests and cooperation potential in the economic and trade sectors [3]. - China is actively expanding high-level opening-up and is willing to sign bilateral and regional trade investment agreements with willing countries to promote global trade and investment liberalization [3]. Group 2: China-Japan Relations - China firmly opposes Japan's recent statements regarding export controls, attributing the measures to Japan's actions that violate China's sovereignty and international norms [4]. - The Chinese government emphasizes that export controls are a common international practice aimed at maintaining world peace and fulfilling non-proliferation obligations [4][5]. Group 3: China-EU Electric Vehicle Case - The recent resolution of the China-EU electric vehicle case is seen as a positive outcome that boosts market confidence and injects new momentum into trade and investment cooperation [7]. - The resolution is viewed as a significant step towards establishing sustainable trade relations between China and the EU, demonstrating the feasibility of resolving trade disputes through partnership [7][8].

Core Viewpoint - The United States is leading the formation of a rare earth alliance to weaken China's dominant position in the global rare earth supply, but it appears to overestimate its influence and appeal [1] Group 1: U.S. and Allies' Efforts - U.S. Treasury Secretary Yellen is rallying G7, EU, Australia, India, and South Korea to reduce dependence on Chinese rare earth minerals, with some countries responding positively, such as Japan [1] - Japan's Finance Minister openly supports the U.S. initiative, indicating a consensus among many nations, while Germany's Finance Minister expresses a different view, stating that the initiative is not aimed at decoupling from China [1][3] - The urgency from the U.S. and Japan is evident, but they struggle to present feasible solutions for reducing reliance on China [1][3] Group 2: Diverging Interests Among Allies - The rare earth alliance faces significant divisions, as countries have differing economic interests and ties with China, making complete decoupling unrealistic [5] - Germany, as Europe's economic engine, has strong connections with China in key industries, leading to a cautious approach towards U.S. calls for decoupling [5] - Australia and South Korea also have deep resource supply ties with China, making their participation in the U.S.-led alliance more about diplomatic gestures than substantial commitments [7] Group 3: China's Competitive Advantage - China has developed a complete rare earth industry chain over decades, achieving scale, cost advantages, and mature technology that other countries cannot replicate in the short term [8] - China's stance is clear: it will use rare earths as a countermeasure if its legitimate rights are harmed, while welcoming cooperation as long as international rules are followed [8] - The reconstruction of the rare earth industry is a complex process requiring significant investment, time, and market adaptation, which the U.S. and its allies are currently not prepared to undertake [8]

瑞银中国汽车研究主管巩旻也表示，最低价格承诺将使在欧洲的中国电动汽车制造商避免陷入恶性价格 竞争。 比亚迪海狮07 南华早报 【文/观察者网 潘昱辰 编辑/高莘】据《南华早报》1月15日报道，分析师和行业人士称，随着欧盟为中 国电动汽车设定最低价格以取代反补贴关税，中国电动汽车制造商在欧将取得更高的利润率，最终将改 善其盈利状况和品牌声誉。 德意志银行分析师王斌在研究报告中表示，欧盟对中国电动车的最低限价将从技术上抑制销量，尤其是 低价小型电动车的销量。但他补充说，这一政策转变将对中国电动汽车巨头比亚迪，及其另一些在技术 和生产成本方面具有优势的同行产生积极影响，预计其利润率将有所提高。 摩根大通亚太区汽车研究主管赖以哲去年10月曾表示，中国汽车制造商在中国大陆的平均汽车利润约为 人民币5000元，如果能向海外出口更多汽车，且其产品在海外能卖出更高价格，那么利润可能会增至2 万元。 赖以哲认为，在最低价格制度下，中国电动汽车可以通过增加智能功能、优化内饰设计，从而在不提供 折扣的情况下，保持产品对当地客户的吸引力。由于未来不再参与价格战，从长远来看，中国电动汽车 在欧洲的声誉有望提升。 中国是全球最大的汽车和 ...