中新网南宁12月14日电 (林浩)12月14日，广西壮族自治区商务厅表示，广西将持续支持企业拓展多元化 市场，重点扩大汽车及零部件、工程机械、电子信息等优势产业产品、中间品出口，深入开展"百展千 企"拓市场行动，举办广西商品博览会暨"桂品出海"等活动，组织企业赴海外开展经贸对接活动，推动 外向型经济发展。 此外，广西将扩大保税物流规模，鼓励保税物流企业在综合保税区开展仓储、集拼、分拨、包装等业 务，促进电子产品、机械设备在广西集散，服务中国—东盟跨境产供链安全稳定。(完) （文章来源：中国新闻网） 广西还将推动边境贸易创新改革，支持边境小额贸易仓储集拼中心建设，提升商品出口通关查验效率， 推动边境小额贸易稳增长。 加大跨境电商发展方面，广西将持续推进跨境电子商务综合试验区建设，加快引进和培育跨境电商企 业，扩大优势产品出口。 在主要贸易伙伴中，今年前11个月，东盟继续保持广西第一大贸易伙伴地位，共进出口3842.2亿元，同 比增长10%。其中，广西对越南进出口2829.8亿元，同比增长7.1%。在新能源材料跨境产业链加速构 建、跨境电商迅速增长等带动下，广西对印尼、新加坡增速亮眼，同比分别增长51.7%、62 ...

上市企业：三一重工（600031）,徐工机械（000425）,中联重科（000157）,山推股份（000680）,柳工 （000528）,厦工股份（600815）,山河智能（002097）,安徽合力（600761）,恒立液压（601100）,建设 机械（600984） 2020-2025年1-10月中国挖掘机产量统计图 数据来源：国家统计局，智研咨询整理 知前沿，问智研。智研咨询是中国一流产业咨询机构，十数年持续深耕产业研究领域，提供深度产业研 究报告、商业计划书、可行性研究报告及定制服务等一站式产业咨询服务。专业的角度、品质化的服 务、敏锐的市场洞察力，专注于提供完善的产业解决方案，为您的投资决策赋能。 根据国家统计局数据显示：2025年10月中国挖掘机产量为3.1万台，同比增长13%；2025年1-10月中国挖 掘机累计产量为30.8万台，累计增长16.4%。 2020-2025年1-10月中国挖掘机产量统计图 相关报告：智研咨询发布的《2026-2032年中国挖掘机行业市场调查及未来前景预测报告》 ...

攻坚智能制造，长沙3 家企业拟"揭榜挂帅" 楚天科技的"生物医药智慧工厂整体解决方案"也榜上有名。企业在具备制药装备全产业链解决方案能力 的基础上，正持续向海外输出其在创新药领域的技术实力，目前已全面完成了从中国设备制造商向世界 级制药装备解决方案提供商的战略升级。 为"智造"厚植沃土 (资料图 片仅供参考) 3家企业的上榜绝非偶然。其背后是长沙瞄准智能制造核心战略，系统构筑产业生态，为"揭榜挂帅"厚 植坚实沃土。 工信部公示2025 年度智能制造系统解决方案"揭榜挂帅"项目名单 天恒测控、长泰机器人、楚天科技上 榜 日前，工信部公示2025年度智能制造系统解决方案"揭榜挂帅"项目名单，来自长沙的3家企业——长沙 天恒测控股份有限公司、长沙长泰机器人有限公司、楚天科技股份有限公司拟入选。记者注意到，从高 端装备的硬核实力到生物医药的领先技术，智能制造正为长沙企业全面赋能，推动其转型升级、加速发 展。 以技术创新实力"揭榜" 本次拟上榜的3家企业虽所处领域各异，却共同体现了长沙智能制造企业瞄准行业痛点、突破技术瓶 颈、赋能产业升级的清晰路径与硬核实力。 天恒测控的"电工钢生产磁性能自动检测解决方案"拟入选本次名 ...

Core Insights - The report indicates that the 2025 Central Economic Work Conference is more focused on "structural adjustment," suggesting a potential for a structural market trend in the upcoming year [4][6][26] - Historical patterns show that years emphasizing "stabilizing growth" typically lead to stronger market performance, favoring large-cap stocks over small-cap and value stocks over growth stocks [2][10] - Conversely, years focused on "structural adjustment" tend to exhibit market volatility, with large-cap stocks remaining flat while small-cap stocks weaken [2][10] Summary by Sections Historical Performance Post-Central Economic Work Conference - The report categorizes past conferences into two themes: "stabilizing growth" and "structural adjustment," with specific years identified for each theme [1][2] - Years with a "stabilizing growth" focus include 2014, 2018, 2019, 2021, 2022, and 2024, characterized by economic slowdowns and policies aimed at maintaining stability [1][2] - Years emphasizing "structural adjustment" include 2013, 2015, 2016, 2017, 2020, and 2023, where the focus was on addressing structural issues and risks [2] Market Behavior and Style Preferences - In "stabilizing growth" years, the market index typically strengthens, with large-cap stocks outperforming small-cap stocks and value stocks outperforming growth stocks [2][10] - In "structural adjustment" years, the market tends to be more volatile, with large-cap stocks showing flat performance and small-cap stocks declining [2][10] Industry Performance Insights - The report notes that the focus of the Central Economic Work Conference influences the following year's market trends, with specific industry policies guiding investment directions [3][4] - For instance, the emphasis on "innovation-driven" policies in 2012 led to a TMT boom in 2013, while the focus on "new consumption" and "new infrastructure" in 2018 shaped market trends in 2019 [3] 2025 Conference Insights - The 2025 conference highlights a "supply strong, demand weak" scenario, indicating a need to balance supply and demand dynamics [4][6] - The report suggests that monetary policy will prioritize economic stability and reasonable price recovery, which could lead to improved corporate profitability if inflation expectations rise [6] - Expanding domestic demand is a key focus, with policies aimed at increasing consumer income and stabilizing investment to counteract previous declines in fixed asset investment growth [6] Market Outlook and Sector Allocation - The report anticipates a structural market trend in 2025, with specific sectors recommended for investment, including AI applications, semiconductor, and renewable energy sectors [7] - The report emphasizes the importance of monitoring macroeconomic conditions and policy developments to inform investment strategies in the upcoming year [7]

当前，无论是保障国家产业链供应链安全、扩大内需潜力，还是提升全国统一大市场的整体效率，都离 不开中部地区能级的持续跃升。可以说，中部崛起不仅关乎一域之兴，更关乎全局之稳与动力之源，具 有突出的时代紧迫性和战略指向性。 中部崛起不仅关乎一域之兴，更关乎全局之稳与动力之源，具有突出的时代紧迫性和战略指向性。 湖北光电子产业集群迈上万亿元级规模；湖南工程机械朝全球市场迈进，多项设备出口份额提升；河南 优质专用小麦比重稳步提高；江西"锂电之都"辐射力明显增强；郑渝高铁全线贯通，中欧班列稳定运 行，跨境电商综试区加快壮大……一段时间以来，中部地区发展出现一系列新进展。这些鲜活图景，展 示了中部地区加快崛起的势头，站上了更高发展起点。 "加快建成中部地区崛起重要战略支点"这一重大要求，不仅是对发展优势的深刻把握，更是立足国家战 略格局作出的重大战略部署。《中共中央关于制定国民经济和社会发展第十五个五年规划的建议》提 出，扎实推动西部大开发形成新格局、东北全面振兴取得新突破、中部地区加快崛起、东部地区加快推 进现代化，促进东中西、南北方协调发展。其中，中部地区所承载的战略功能愈加重要。 支撑点、链接点、撬动点，共同构成战略 ...

写在文章前的声明：在本文之前的说明：本文中所列的投资信息，只是一个对基金资产净值进行排行的客观描述，并无主观倾向性，也不是投资建议，纯属 娱乐性质。 一顿操作猛如虎，基金净值已更新，谁是基金中的王者，谁又垫底，请看数据： | 基金简称 PK 1 | 德邦新兴产 ... 1.0338 | | 最新净层拟号含从糖质感人 6.45% な | | | --- | --- | --- | --- | --- | | | 023674 | 2025-12-12 | | | | 2 | 德邦新兴产 ... 1.0319 | | 6.44% | ४ | | | 023675 | 2025-12-12 | | | | 3 | 东方低碳经 ... 1.2915 | | 6.27% | ৰ বিশ্ব | | | 021094 | 2025-12-12 | | | | 4 | 东方低碳经 ... 1.2866 | | 6.27% | ਕੇ | | | 021095 | 2025-12-12 | | | | 5 | 富荣福鑫混合A 0.8225 | | 6.12% | 27 | | | 004794 | 2025-12-12 | | ...

国外 1. 法巴银行：在美联储降息后平仓10年期美债空头 法巴银行在其分析师报告中表示，在美联储如期降息后，已在一项做空10年期美债的交易中获利了结， 该交易押注美债收益率上升。该行在收益率为4.09%时建仓，并在4.15%时平仓。分析师称："我们认 为，美联储失衡的政策反应机制将在下一份非农就业数据公布前对利率市场构成压力。"尽管美联储此 次决议投票出现分歧，但决策者正强调美国劳动力市场的疲软态势。 2. 惠誉：预计2026年美国杠杆贷款违约率将回落 惠誉评级分析师在报告中表示，随着美联储继续降息，美国杠杆融资领域的违约率预计将在2026年下 降。分析师指出，"更为宽松的货币政策"将为高负债发行人缓解因高额利息支出带来的压力。他们预 计，2026年底美国杠杆贷款违约率将介于4.5%至5.0%之间，而美国高收益债违约率将在2.5%至3.0%之 间。 3. 丰业银行：美元熊市才刚刚开始 丰业银行团队表示，今年以来，美元对多数货币走低，但这发生在多年上涨之后。美元多头不应掉以轻 心，最严峻的考验尚未到来。在该行《2026年展望焦点》报告中，分析师肖恩·奥斯本和埃里克·泰奥雷 坚持原有观点：美元将普遍走弱，这一趋势 ...

Core Viewpoint - Sany Heavy Industry (600031) acknowledges that stock price fluctuations are influenced by various factors, including macroeconomic conditions, industry cycles, market sentiment, and funding preferences [1] Financial Performance - According to the Q3 2025 report, the company's total profit and net profit attributable to shareholders have shown growth, indicating a continuous improvement in operational performance [1]

【解剖大盘】 在美联储助力之下，美股标普500和道指周四创下收盘纪录新高，在指数这一块，美股确实控制得非常 好，每次下跌之后总有办法能让它上来，而在过热的时候总会适时出利空降温。所以，除非发生危机， 不要轻言美股会走弱，都是波段性的。这其中的逻辑比较复杂，但大差不差。港股昨日已经先调了，重 磅会议也开完了，今天上涨也是必然，收盘涨1.75%。 社融数据出来了，央行：今年前11个月社会融资规模增量为33.39万亿元，人民币贷款增加15.36万亿。 11月末，广义货币(M2)余额336.99万亿元，同比增长8%。狭义货币(M1)余额112.89万亿元，同比增长 4.9%。整体看保持稳定，政府债券市核心拉动力量，不过居民信贷还是偏弱。M1和M2剪刀差低于M2 增速，短期资金活跃度有待提升。 2025年12月15日，中国人民银行将以固定数量、利率招标、多重价位中标方式开展6000亿元买断式逆回 购操作，期限为6个月(182天)。到年底，给市场注入流动性。接下来到年底，大方向偏向乐观，资金会 提前布局，保险和证券出现异动，如中国太保（601601）(02601)、中国人寿（601628）(02628)及光大 证券(06 ...

Market Overview - The S&P 500 and Dow Jones reached record closing highs, indicating strong control over the U.S. stock market, with rebounds following declines and timely negative news to cool off overheating [1] - The Hong Kong stock market also saw a rise of 1.75% after a prior adjustment and the conclusion of significant meetings [1] Social Financing and Monetary Policy - In the first 11 months of the year, China's social financing increased by 33.39 trillion yuan, with RMB loans rising by 15.36 trillion yuan [1] - As of the end of November, the broad money supply (M2) was 336.99 trillion yuan, growing by 8% year-on-year, while the narrow money supply (M1) was 112.89 trillion yuan, with a year-on-year increase of 4.9% [1] Economic Policy and Market Reactions - The People's Bank of China plans to conduct a 600 billion yuan reverse repurchase operation to inject liquidity into the market by the end of the year [2] - The central economic work conference did not present significant highlights, but the focus is on establishing a "national unified market" to break local protectionism, benefiting the express delivery industry [2] Industry Trends - The domestic agricultural machinery market is seeing a significant increase in recognition, with tractor exports rising by 35% year-on-year in the first three quarters of 2025 [3] - The AI sector is experiencing a surge, with major companies like MiniMax and Zhiyuan planning IPOs, which will increase demand for computing power [5] Stock Performance - Companies in the agricultural machinery sector, such as First Tractor Company, saw stock prices rise over 11% due to increased export growth [3] - In the AI-related sector, stocks like Cambridge Technology and Changfei Optical Fiber Cable rose nearly 8% and over 4%, respectively, driven by the anticipated demand from upcoming IPOs [5] Equipment and Technology Developments - GE Vernova expects to sign contracts for 80 gigawatts of combined cycle gas turbine capacity by the end of the year, indicating strong demand for gas turbines [4] - The global nuclear fusion market is projected to approach 500 billion USD by 2030, with several companies planning to establish commercial fusion power plants by 2040 [4] Excavator Sales Data - In November 2025, excavator sales reached 20,027 units, a year-on-year increase of 13.9%, with domestic sales growing by 9.11% [8] - The total sales of excavators from January to November 2025 were 212,162 units, reflecting a year-on-year growth of 16.7% [8] Company-Specific Developments - Tiangong International is expanding its titanium alloy business and has engaged in discussions with research institutes to innovate in high-end materials [9] - The company is also focusing on high-nitrogen steel for humanoid robot applications, having overcome technical barriers in production [10]