中国电动汽车的竞争优势源自产业链上下游持续不断的技术创新，以及在超大规模市场优势下，通过充 分竞争形成的成本与技术优势，而非依赖补贴。我协会支持相关企业根据自身实际情况与经营需求，争 取对欧出口权益。 （文章来源：央视新闻客户端） 中欧双方秉持相互尊重的原则，通过持续对话与多轮磋商，推动电动汽车案"软着陆"，取得重要积极成 果。欧委会发布《关于提交价格承诺申请的指导文件》，明确欧方将遵循非歧视、客观和公正的基本原 则，根据世贸组织规则有关规定，按照统一标准，对中国出口车企提交的价格承诺申请进行评估，符合 条件的企业将以价格承诺替代反补贴征税。 中国汽车工业协会认为，电动汽车案实现"软着陆"是中欧双方在世贸组织规则框架下，通过对话磋商化 解分歧的生动案例，对维护中欧经贸与投资合作及双边关系的健康稳定发展具有重要意义。 ...

Group 1 - The core viewpoint of the article emphasizes the importance of dialogue and negotiation between China and Europe to achieve a "soft landing" in the electric vehicle case, resulting in significant positive outcomes [1] - The European Commission has released guidelines for submitting price commitment applications, indicating that the EU will evaluate applications from Chinese exporting car companies based on non-discrimination, objectivity, and fairness, in accordance with WTO rules [1] - The China Association of Automobile Manufacturers believes that the "soft landing" of the electric vehicle case exemplifies how differences can be resolved through dialogue and negotiation within the WTO framework, which is crucial for maintaining healthy and stable development of China-EU economic and trade cooperation and bilateral relations [1] Group 2 - The competitive advantage of Chinese electric vehicles stems from continuous technological innovation across the industry chain and cost and technological advantages formed through full competition in a super-large market, rather than relying on subsidies [1] - The association supports relevant enterprises in striving for their export rights to Europe based on their actual conditions and operational needs [1]

托多罗夫强调，绿色转型与数字化是当前欧盟战略的核心方向，而中国在这些领域的技术与产业优势明 显。他期待中国电动汽车企业在保加利亚建立生产基地，共同开发面向欧洲乃至全球市场的整车与零部 件。 他认为，光伏是保中另一个重点合作方向。中国在全球光伏市场占据重要份额，且发展太阳能与欧盟倡 导的绿色能源目标高度契合，该领域有望成为双边合作亮点。 托多罗夫称赞中国企业坚持创新驱动的发展模式。"即使已占据一定市场份额，中国企业仍持续投入研 发、推出新产品，这种以创新为本的理念值得保加利亚企业学习。" （文章来源：新华社） 保加利亚工商会副会长瓦西尔·托多罗夫近日在首都索非亚接受新华社记者专访时表示，保中经贸关系 持续向好，双方在高科技与绿色产业领域合作潜力巨大。中国在人工智能、3D打印、无人机应用等前 沿科技领域具有优势，是保加利亚及欧盟的重要合作伙伴。 托多罗夫说，以保加利亚今年加入欧元区为契机，保不仅可以成为中国企业进入欧盟市场的重要门户， 更期待推动双边合作实现结构性升级。保中两国在深化农业等传统领域合作的同时，还可以向高端制造 与联合研发延伸，共同构建更具韧性和深度的长期产业协作关系。 他特别提到无人机领域的合作前 ...

Core Viewpoint - The EU-China Electric Vehicle anti-subsidy negotiations have made significant progress, emphasizing that the competitiveness of China's electric vehicle industry stems from continuous technological innovation and market competition, rather than subsidies [1][2]. Group 1: Negotiation Progress - The EU and China have engaged in multiple rounds of negotiations to address the EU's concerns regarding electric vehicles, aiming for a "soft landing" in the anti-subsidy case [1]. - The EU has issued guidance for Chinese exporters on submitting price commitment applications, which will allow them to address concerns in a WTO-compliant manner [1][3]. - The EU-China Chamber of Commerce welcomed the dialogue-driven approach to resolving the electric vehicle case, highlighting its importance for bilateral trade and investment cooperation [1]. Group 2: Price Commitment Framework - The EU has confirmed that it will evaluate price commitment applications based on objective and non-discriminatory principles, adhering to WTO rules [5]. - Two methods for determining minimum prices have been outlined: one based on the CIF price during the investigation period plus the applicable anti-subsidy tax rate, and the other based on the sales price of similar electric vehicles produced within the EU [5]. - Exporters may also make annual export quantity commitments to mitigate cross-subsidy risks, which will further strengthen the response to subsidy damages [5]. Group 3: Impact of Anti-Subsidy Tax - Despite the anti-subsidy tax, the market share of Chinese electric vehicles in the EU has increased from 7% in 2024 to 7.6% in the first eight months of 2025 [8]. - Several Chinese automakers are establishing local production in Europe to avoid tariffs, which will be a significant factor in price commitment negotiations [9]. Group 4: Investment Commitments - Investment commitments in local manufacturing will be positively considered in the evaluation of price commitment proposals, reflecting a broader industrial policy issue rather than just a trade dispute [9]. - Chinese electric vehicle companies have announced various investment and production plans in the EU following the introduction of the anti-subsidy tax, including BYD's establishment of a European headquarters and R&D center in Budapest [9].

Group 1 - The Ministry of Commerce of China announced progress in negotiations regarding electric vehicles (EVs) with the EU, emphasizing the need for general guidance on price commitments for Chinese exporters of battery electric vehicles (BEVs) to the EU [1] - The EU will issue a guidance document for submitting price commitment applications, which does not set a minimum price amount but establishes a framework for calculating the Minimum Import Price (MIP) based on different vehicle models [1] - Two main calculation paths for MIP are outlined: one based on the CIF price during the investigation period plus a margin equivalent to the anti-subsidy tax rate, and the other based on the sales price of similar non-subsidized vehicles produced in the EU, including reasonable profit margins [1] Group 2 - The "price commitment" will replace the previous median 20% anti-subsidy tariff, benefiting Chinese automakers' profitability in Europe, particularly for leading Chinese new energy companies focused on brand and quality [2] - The battery cell procurement by major manufacturers is balancing performance and cost considerations [6] - CATL is experiencing growth in the energy storage market that exceeds that of the power market [9]

Group 1: Industry Investment Rating - No information provided Group 2: Core Views - The downstream industry is showing signs of recovery, and attention should be paid to foreign trade policy adjustments [1] - The upstream energy prices have slightly corrected, agricultural egg prices have rebounded significantly, and non - ferrous metal prices of aluminum and nickel have continued to rise [3] - In the midstream, PX prices are at a high level while polyester operating rates are low, and power plant coal consumption has decreased [4] - Downstream, the sales of commercial housing in first - and second - tier cities have rebounded beyond seasonality, and the number of domestic flights has continued to increase [5] Group 3: Summary of Related Catalogs 1. Middle - view Event Overview Production Industry - On January 12, regarding China's export of rare earths to Japan, the Chinese Foreign Ministry stated that relevant measures are taken in accordance with laws and regulations [1] - Also on January 12, the China Chamber of Commerce for Import and Export of Machinery and Electronic Products believes that the "soft landing" of the EU's anti - subsidy case on Chinese electric vehicles is conducive to the stability of the industrial chain and supply chain [1] Service Industry - The State Administration for Market Regulation will conduct an investigation and evaluation on the market competition of the food delivery platform service industry due to issues such as subsidy and price competition [2] 2. Industry Overview Upstream - Energy: International crude oil and liquefied natural gas prices have slightly corrected [3] - Agriculture: Egg prices have rebounded significantly [3] - Non - ferrous metals: Aluminum and nickel prices have continued to rise [3] Midstream - Chemical industry: PX prices are high, and polyester operating rates are low [4] - Energy: Power plant coal consumption has decreased [4] Downstream - Real estate: The sales of commercial housing in first - and second - tier cities have rebounded beyond seasonality [5] - Service: The number of domestic flights has continued to increase [5] 3. Key Industry Price Indicators - On January 12, prices of various products showed different trends, such as a 7.20% year - on - year increase in egg prices, a 4.49% increase in aluminum prices, and a 3.14% increase in WTI crude oil prices [38]

Group 1 - The index focuses on smart electric vehicles, which are expected to become a representative direction for embodied intelligence, covering various segments of the industry chain including power systems, perception systems, decision systems, execution systems, communication systems, and vehicle production [2] Group 2 - The E Fund Consumption Electronics ETF tracks the CSI Consumption Electronics Theme Index, which focuses on AI hardware as a major category of smart terminal products, comprising stocks of companies involved in component production, complete machine brand design, and production [4] Group 3 - The E Fund IoT ETF tracks the CSI IoT Theme Index, which has shown a decline of 2.4% as of the midday close [6]

Group 1 - The Ministry of Commerce of China reported on the progress of consultations regarding the EU's electric vehicle case, emphasizing mutual respect and the need for general guidance on price commitments for Chinese exporters of pure electric vehicles [2] - The European Commission has issued guidance for Chinese electric vehicle companies to submit price commitment applications, which could replace high anti-subsidy tariffs if agreements are reached [2] - The price commitment is a voluntary promise by exporters to sell products at or above a specific price level to mitigate the adverse effects of subsidies, potentially allowing for more flexible market access [2] Group 2 - In October 2024, the European Commission concluded its anti-subsidy investigation, imposing a five-year anti-subsidy tax of up to 35.3% on electric vehicles imported from China, while expressing willingness to negotiate price commitments as an alternative [3] - Despite the imposition of anti-subsidy taxes, the sales momentum of Chinese cars in the European market remains strong, with projections indicating sales exceeding 700,000 units in 2025, up from 408,000 units in 2024 [3] - Chinese automakers are advancing local production in Europe, with BYD starting construction of factories in Hungary and Turkey, and GAC Group collaborating with Magna for localized production of the AION V SUV in Austria [3] Group 3 - In November 2025, the Madrid City Government's investment promotion office announced that Spain would abstain from voting on tariffs against Chinese electric vehicles, creating a favorable environment for Chinese investments [4] - The European market presents significant potential for Chinese automakers, particularly in the new energy vehicle sector, with sales of new energy passenger vehicles in Europe projected to reach 3.32 million units from January to November 2025, reflecting a 30% year-on-year increase [4]

新华财经北京1月13日电四大证券报内容精华摘要如下： 中国证券报 ·四部门：加强政府投资基金布局规划和投向指导投资鼓励类产业要防止盲目跟风、一哄而上 国家发展改革委1月12日消息，为加强对政府投资基金布局规划和投向指导，更加突出政府引导和政策 性定位，国家发展改革委、财政部、科技部、工业和信息化部制定了《关于加强政府投资基金布局规划 和投向指导的工作办法（试行）》。国家发展改革委同步制定了《政府投资基金投向评价管理办法（试 行）》，引导政府投资基金落实国家产业调控要求，支持现代化产业体系建设。这是首次在国家层面对 政府投资基金的布局和投向作出系统规范。中国宏观经济研究院经济所研究员刘国艳表示，两项办法协 同实施，有助于引导金融资源更精准地流向实体经济急需的领域，尤其是周期长、风险高、社会资本初 期投入不足的环节，从而有效发挥政府投资基金"引导、补缺、撬动"的功能。 ·中欧电动汽车案实现"软着陆" 欧方将发布价格承诺指导文件 商务部12日发布关于中欧电动汽车案磋商进展的通报。根据通报，欧方将发布《关于提交价格承诺申请 的指导文件》。业内人士指出，这意味着经过多轮磋商，案件实现"软着陆"。通报指出，为落实中欧领 ...

Core Viewpoint - The China-EU electric vehicle negotiations have progressed, with the EU set to issue guidelines for price commitment applications from Chinese exporters, aiming to resolve trade concerns in a mutually respectful manner [1][2]. Group 1: Negotiation Progress - The negotiations between China and the EU have been characterized by mutual respect and multiple rounds of discussions, leading to the decision to provide general guidance for Chinese exporters of pure electric vehicles regarding price commitments [2]. - The EU will confirm in the forthcoming guidelines that it will adhere to non-discrimination principles and apply the same legal standards to all price commitment applications, ensuring an objective and fair evaluation process [2]. Group 2: Implications for Trade Relations - The agreement reflects the spirit of dialogue and the outcomes of negotiations, indicating that both parties are capable and willing to resolve differences within the framework of World Trade Organization rules, thereby maintaining stability in the automotive supply chain [2]. - The Italian news report suggests that replacing tariffs with a minimum price mechanism could provide greater market stability and avoid potential escalation of commercial retaliation [3]. Group 3: Future Outlook - A clear operational framework has been established, with guidelines sent to Chinese exporters to facilitate quick adaptation, marking a temporary resolution to one of the most contentious chapters in EU-China trade relations during the green transition era [5]. - The success of this agreement in balancing European industrial protection with the acceleration of zero-emission vehicle adoption remains to be seen in the medium term [5].