作为中国"煤都"，榆林的战略发展地位再次迎来跃升。 中经记者 王登海 西安报道 随着陕西省"十五五"发展谋篇布局全面展开，西安、榆林"双极带动"发展格局正式落定。 日前，《中共陕西省委关于制定国民经济和社会发展第十五个五年规划的建议》（以下简称《建议》） 正式发布，当中明确提出实施"双极带动、多点支撑、三区协同"战略，强化西安、榆林两大增长极对全 省发展的带动作用，持续提升其他城市支撑作用，更好实现关中、陕北、陕南三大板块错位发展、联动 互补、协同升级。 陕西省统计局一级调研员、中国政府统计研究中心特聘研究员郭秦川在接受《中国经营报》记者采访时 表示，陕西的区域经济发展呈现出明显的板块特征，关中、陕北、陕南各自具有不同的资源禀赋、产业 基础和发展优势。"双极带动、多点支撑、三区协同"战略正是基于对这种区域差异和发展规律的深刻认 识而提出的，旨在打破区域之间的行政壁垒和发展限制，促进要素的自由流动和优化配置，实现各区域 的优势互补、协同共进，推动陕西省经济整体迈向高质量发展。 榆林"上位" 日前，随着陕西"十五五"规划建议全文发布，西安、榆林"双极带动"发展格局正式官宣。这座能源重镇 首次与省会西安并列，成为全 ...

| 名称 | 最新价 | 涨跌幅 | | --- | --- | --- | | 恒生指数 | 25498.13 | +0.12% | | 800000 | | | | 国企指数 | 8841.51 | -0.02% | | 800100 | | | | 恒生科技指数 | 5418.29 | -0.73% | | 800700 | | | 盘面上，受美股科技股集体下挫影响，港股权重科技股多数表现弱势影响市场情绪，其中，小米跌 2.47%，阿里巴巴跌1.3%，百度、京东飘绿；分析认为四季度航司利润端亏损有望大幅收窄，三大航空 股涨幅明显，中国东方航空大涨8%表现十分抢眼；中金料明年内银股营业收入及纯利按年上升，净息 差压力进一步收窄，内银股普遍上涨；石油股、煤炭股、燃气股等能源板块多数走俏。 另一方面，纸业股、锂电池股、苹果概念股、汽车股、铜业股下跌明显，其中，玖龙纸业跌超8%，锂 电龙头宁德时代跌超3%，新能源车"蔚小理"均走低。(格隆汇) 格隆汇12月18日｜港股三大指数午后拉升回暖，恒生指数尾盘翻红，最终收涨0.12%，国企指数、恒生 科技指数依旧呈现下跌，分别收跌0.02%及0.73%，科指盘中曾跌至1 ...

转自：新华财经 新华财经北京12月17日电（吴郑思、郭洲洋）国内商品期货市场周三（12月17日）整体走强，多数品种强势走高。截至收盘，中证商品期货价格指数收报 1518.98点，较前一交易日上涨10.71点，涨幅0.71%；中证商品期货指数收报2096.85点，较前一交易日上涨14.02点，涨幅0.67%。 分品种来看，广期所品种集体表现活跃。除铂钯尾盘携手涨停以外，碳酸锂盘中涨近9%、终盘收高7.61%，力压铂钯领涨当日商品市场。另外，多晶硅增仓 涨超4%，并再创上市以来新高。不过，同样走强的还有白银。在海外银价突破65美元、66美元两道关口的提振下，沪银收盘站上15500元／千克。 贵金属中工业属性偏强的品种17日再度集体飙升。其中铂钯主力合约均收于涨停价并创历史新高；白银也大涨超5%，终盘沪银主力合约站上15500元／千克 关口，盘中也再度刷新了历史新高。隔夜公布的11月美国非农就业报告偏弱，市场降息预期进一步增加，贵金属得到一定支撑，但金价驱动有限，而工业需 求较强的铂钯和白银则更受到市场的热捧。铜冠金源期货表示，短期供应紧张为钯价格提供了基本面支撑。铂、钯供给端存在现货压力，铂金属现货租赁利 率持续 ...

| | 沪股通 | | | | | --- | --- | --- | --- | --- | | 名称 | 涨跌幅 | 净买入额(亿) | 成交额 | 名称 | | 阿里巴巴-W | 1.3% | 1.43 | 30.01亿 | 阿里巴巴-W | | 长飞光纤光缆 | 21.2% | 2.03 | 20.20 Z | 腾讯控股 | | 腾讯控股 | 1.4% | 2.10 | 14.40 Z | 小米集团-W | | 中国海洋石油 | -0.2% | -3.85 | 14.35 Z | 美团-W | | 小米集团-W | 0.8% | 1.74 | 12.89 Z | 长飞光纤光缆 | | 中芯国际 | 2.1% | -0.31 | 11.37 Z | 中本国际 | | 工商银行 | 0.8% | 0.24 | 8.67亿 | 南方恒生科技 | | 美团-W | 1.8% | 0.57 | 8.66亿 | 中国海洋石油 | | 紫尖矿业 | 1.8% | 3.58 | 8.29亿 | 中国移动 | | 中国人寿 | 4.3% | 3.13 | 8.20 Z | 快手-W | 12月17日，南下资金净买入港股 ...

Group 1 - The central economic work conference emphasizes expanding domestic demand as the top priority for 2026, focusing on boosting consumption and stabilizing the real estate market from both supply and demand sides [10][11] - The monetary policy is expected to maintain a supportive tone, with continued implementation of moderate easing measures to lower financing costs and support key sectors of the economy [10][11] - The Hainan Free Trade Port will officially start full island closure on December 18, 2025, with significant adjustments to tax policies, expanding the number of zero-tariff items [10] Group 2 - The report indicates a bearish outlook for various commodities, including methanol, glass, and cotton, while PTA and soybean oil show a bullish trend [5][3] - The steel market is experiencing weak demand, with new housing sales declining significantly and construction projects facing funding pressures, leading to a decrease in overall demand for building materials [19][20] - The iron ore and coke prices are expected to remain weak due to high inventory levels and low profit margins for steel mills, with a potential for further price declines [20][22] Group 3 - The report highlights a significant increase in foreign long-term capital inflows into the Chinese stock market, contrasting with the outflows seen in 2024, indicating a positive sentiment towards Chinese assets [11] - The automotive industry is undergoing a major restructuring, with Ford shifting focus from electric vehicles to fuel and hybrid vehicles, reflecting broader trends in the sector [13] - The lithium market is expected to see limited price declines due to strong demand, despite some signs of weakening fundamentals [28][29] Group 4 - The agricultural sector is facing mixed signals, with cotton supply pressures and expectations of reduced planting areas, while sugar prices are under pressure from new sugar supply [33][34] - The egg market is expected to remain weak due to high inventory levels and limited demand, although there are signs of potential recovery as the holiday season approaches [39][40] - The apple market is experiencing slow sales and high prices, with expectations of continued weak demand due to competition from other fruits [36] Group 5 - The oil market is facing downward pressure due to oversupply and geopolitical factors, with prices expected to remain volatile [40][41] - The rubber market is stable with no significant supply-demand imbalances, while synthetic rubber prices are influenced by raw material costs and cautious purchasing behavior [43][44] - The caustic soda market is showing signs of strength due to favorable market conditions, although overall demand remains weak [45]

Group 1 - 360 announced that it is addressing false statements made by a former executive, clarifying that the individual never held a core management position and that the company's gaming business revenue recognition complies with accounting standards, denying any allegations of financial fraud [2] - Ford has canceled multiple electric vehicle models, including the F150 Lightning, leading to a projected revenue decrease of $19.5 billion, with most losses accounted for in the current quarter [2] - PayPal has applied for a banking license to expand its loan services and introduce interest-bearing savings accounts, aiming to reduce reliance on third-party institutions [2] Group 2 - XPeng Motors has obtained an L3 autonomous driving road test license in Guangzhou and plans to launch L4 level vehicles by 2026 [5] - Jiangte Motor announced that it has submitted an objection regarding the proposed cancellation of its lithium mining rights in Yichun, following regulatory actions [5] - Jingyu Medical received regulatory approval for its invasive brain-computer interface products aimed at treating drug addiction, marking a significant milestone in mental health treatment [5] Group 3 - Apple plans to significantly expand its iPhone product line over the next two years, including the release of at least seven new models by fall 2027 [8] - Tesla intends to start battery cell production at its Berlin factory in 2027, with an annual capacity of 8 GWh [8] - Microsoft emphasized its AI capabilities, stating that its growth is not solely dependent on OpenAI, while also rolling out updates for Windows 11 [8] Group 4 - Honda plans to increase its stake in parts supplier Astemo by 21%, aiming for full control to enhance its automotive supply chain integration [11] - Samsung Electronics is negotiating 2nm orders with AMD while ramping up its foundry business for Intel's PCH chips [11] - SK Hynix warned of a continued DRAM chip shortage until 2028 and is collaborating with NVIDIA on AI-specific SSDs [11] Group 5 - Volkswagen will close its Dresden factory, transitioning it into an AI and chip research hub as part of a broader cost-cutting strategy [13] - Porsche is adjusting its 718 EV platform to accommodate internal combustion engines due to slowing demand for electric vehicles [13] - Mercedes-Benz reported significant usage of its driver assistance systems and is focusing on high-quality development in China [14]

能源开采｜2026 策略报告 20251215 摘要 OPEC 在 2025 年四季度暂停增产，并计划在 2026 年一季度继续暂停， 此策略转变优于市场预期，有助于缓解供给压力，支撑 65 美元/桶以上 的油价。 炼化行业自 2022 年起已触底四年，部分品种长期亏损，预计未来 3-5 年有望迎来上行周期，但具体节奏和高度需结合中国和全球平衡表及具 体品种进行观察。 2025 年政策已对煤炭市场产生筑底作用，预计 2026 年煤价中枢将高 于 2025 年，或高出几十到一百元，下限保住 700 元/吨，高点可能在 850 元/吨左右，动力煤底部已过，板块体现红利属性。 近期天然气市场变化显著，美国 Henry Hub 价格上涨，欧美价差收敛， 原因、持续性及对中国市场的影响需进一步关注。 2025 年中国战略储备大规模补库，未来仍有补库意愿，新《能源法》 要求企业承担原油战略储备责任，并计划新建储油设施，增加 1.7 亿桶 容量。 Q&A 2026 年原油市场的总体预期如何？ 对于 2026 年的原油市场，我们持相对乐观的态度。尽管供应平衡表和库存方 面存在一定压力，但从 OPEC 剩余产能以及非商业机构投 ...

智通财经APP获悉，周一，三大指数下跌，投资者为本周即将公布的一系列美国经济数据以及多个央行 利率决议做准备。11月非农就业人数数据将于周二公布，同时公布的还有10月零售销售数据。由于秋季 美国政府停摆，这些报告被推迟发布。11月消费者价格指数(CPI)将于周四公布。周四，英国、欧洲央 行将公布利率决议。周五，日本央行将公布利率决议。 【美股】截至收盘，道指跌41.49点，跌幅为0.09%，报48416.56点；纳指跌137.76点，跌幅为0.59%，报 23057.41点；标普500指数跌10.90点，跌幅为0.16%，报6816.51点。特斯拉(TSLA.US)涨超3.5%， Strategy(MSTR.US)跌超8%。纳斯达克中国金龙指数跌2.17%，阿里巴巴(BABA.US)跌超3%。 【欧股】德国DAX30指数涨0.22点，涨幅0.00%，报24211.59点；英国富时100指数涨105.32点，涨幅 1.09%，报9754.35点；法国CAC40指数涨56.26点，涨幅0.70%，报8124.88点；欧洲斯托克50指数涨 26.59点，涨幅0.46%，报5747.30点；西班牙IBEX35指数涨1 ...

A 股周四高开低走，航天板块维持 强势；港股下跌，国产半导体表现 不佳；欧洲股市上涨，美联储降息 提振市场情绪；美股在降息推动下 上涨，但甲骨文 (ORCL US) 财报 不及预期拖累科技股表现，纳指下 跌。 外 汇 / 商 品 受美股早盘下跌拖累，周四原油期 货收于 10 月以来的最低水平；投 资者权衡美联储的利率前景，黄金 价格上涨，白银现货和伦敦期铜再 创历史新高。 固 定 收 益 周四美国国债基本持稳，收益率轻 微上涨约 1 个基点，走势延续陡峭 化。30 年期国债标售表现稳健。亚 洲债市表现稳健，利差收窄 1-2 个 基点。 产品及投资方案部 注：bp/bps=基点；pt/pts=百分点 中信证券财富管理 (香港) 免责声明请参考封底 环球市场动态 中 央 经 济 工 作 会 议 稳 中 求 进 股 票 2025 年 12 月 12 日 ▪ 中央经济工作会议认为国内的矛盾主要是 "供强需弱"，强调要 "推动经济实现质的有效提升和量的合理增长"： 要求继续实施更加积极的财政政策和适度宽松的货币政策，并指出 "发挥存量政策和增量政策集成效应"，我们 认为政策或更注重政策协调与落地效果。总体上，我们预计明 ...

当地时间12月10日，美股三大指数收高，道指上涨近500点，标普500指数逼近历史最高收盘纪录。在美联储决定今年 再次降息后，交易员押注明年将有更多宽松政策出台。 截至当天收盘，道指涨497.46点，涨幅为1.05%，报48057.75点；纳指涨77.67点，涨幅为0.33%，报23654.16点；标普 500指数涨46.17点，涨幅为0.67%，报6886.68点。 美联储主席鲍威尔在随后召开的新闻发布会上表示，美联储将逐次会议做出决定，货币政策并不存在预定的路径；同 时，他排除了加息的可能性，认为"目前没有人会把加息作为基本预期"。此外，鲍威尔表示，国债购买规模或将在未 来数月维持高位。 美联储再降息25基点 美联储在其为期两天的政策会议结束时批准了又一次0.25个百分点的降息。这是该机构今年连续第三次降息，使联邦 基金利率降至3.50%至3.75%的区间。 此外，美联储表示将自12月12日起购买国库券，未来30天购买400亿美元。美联储"点阵图"显示决策层对2026年利率 的预测中值没有变化。 美联储在其声明中称，其常备隔夜回购操作将不再设定总操作额度上限，并将通过FedTrade Plus交易平台以全 ...