Core Viewpoint - CWT INT'L's subsidiary, Straits Millennium Pte Ltd, has obtained a Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS), effective from September 1, 2025, allowing it to provide cross-border remittance and digital payment token services [1] Group 1: Company Developments - Straits Millennium Pte Ltd received principle approval under the Payment Services Act 2019 earlier this year [1] - The MPI license enables Straits Millennium to facilitate the exchange of digital payment tokens with fiat currencies in the financial market [1] Group 2: Strategic Implications - The board believes that the licensed services will enhance the connectivity between traditional financial markets and emerging digital asset classes, leveraging the group's expertise in derivatives and commodities [1] - Operating within a regulated and secure ecosystem, Straits Millennium aims to position itself as a trusted provider of mature financial services, addressing the growing demand for specialized access to digital assets [1]

（文章来源：央视新闻） 多家外资金融机构近期发布对中国市场的观点和研报，普遍看好中国市场前景。高盛近期发布研报，维 持对中国股票"增持"立场；渣打银行在《2025年下半年全球市场展望》中维持对中国股票的"超配"评 级。不仅是"看多"中国资产，国际投行也真金白银"做多"A股市场。高盛最新报告显示，对冲基金以7周 来最快速度净买入中国股票。中国是8月份全球对冲基金净买入量最大的市场。国家外汇管理局数据也 显示，今年上半年，外资净增持境内股票和基金101亿美元，特别是5月、6月，净增持规模增加至188亿 美元。而对于即将到来的第四季度，外资金融机构普遍持乐观态度。近期，标普国际信用评级公司发布 报告，决定维持中国主权信用评级"A+"和展望"稳定"不变。 ...

格隆汇8月31日｜未来几周，美国股市将迎来一段关键时期，这段时间将决定美股最新一轮反弹能否延 续。就业数据、关键的通胀指标以及美联储的利率决议，都将在接下来的14个交易日内陆续公布，这些 事件将为投资者设定市场基调。当前股市似乎正处于十字路口：标普500指数刚刚录得自3月以来最疲弱 的月度涨幅，而9月历来是其表现最差的月份。与此同时，市场波动几乎消失。恐慌指数VIX自6月底以 来仅有一次触及20这一关键水平。"投资者在9月保持谨慎是正确的，"Fundstrat Global Advisors研究主管 Thomas Lee表示，"美联储在经历长期暂停后，正重新开启温和的降息周期，这使得交易员很难确定仓 位。"这位长期看多美股的分析师预计，标普500今年秋季将下跌5%至10%，随后反弹至6800至7000点 之间。 ...

（原标题：中国资产，超配！） 国家外汇管理局数据也显示，今年上半年，外资净增持境内股票和基金101亿美元，特别是5月、6月， 净增持规模增加至188亿美元。 而对于即将到来的第四季度，外资金融机构普遍持乐观态度。近期，标普国际信用评级公司发布报告， 决定维持中国主权信用评级"A+"和展望"稳定"不变。展望未来，外资认为中国经济基础稳、优势多、 韧性强、潜力大，支撑高质量发展的积极因素不断积累。 校对：苏焕文 来源：央视财经 责编：李丹 多家国际投行在研究报告中，上调了对中国经济全年增长的预测，同时对中国资产的配置建议也从中性 转向了"超配"。 近期，多家外资金融机构发布对中国市场的观点和研报，普遍看好中国市场前景。高盛近期发布研报， 维持对中国股票"增持"立场；渣打银行在《2025年下半年全球市场展望》中维持对中国股票的"超配"评 级。 渣打银行北亚区首席投资总监 郑子丰：有许多因素支持我们对中国资产的高权重配置，包括外部和国 内因素。从外部看，是出于对中国将受贸易紧张局势影响的预期，但实际情况是，中国较好应对了这种 情况。从国内看，我们看到了更多旨在稳定经济增长状况的政策，包括最近宣布的新生儿补贴。因此， ...

全国政协提案委员会副主任、中国发展研究基金会理事长张军扩指出，"十五五"经济持续高质量发展要 注重抓好三大重点任务：一是有效提升消费者消费能力和信心，加快形成扩大消费的长效机制，持续有 效扩大消费需求；二是有效恢复房地产市场信心，释放正常住房需求，加快构建房地产发展新模式，促 进房地产市场止跌回稳；三是加快实现更高水平科技自立自强，既加大重大科技攻关、有效解决"卡脖 子"问题，又切实加强基础学科研究、增强前沿创新能力，为我国更长时期的创新发展奠定基础。 中国国际经济交流中心副理事长、国务院发展研究中心原副主任王一鸣认为，当前新一轮科技革命和产 业变革向纵深演进，国际政治经济格局深刻调整，大湾区建设国际科技创新中心面临新挑战。推进粤港 澳大湾区国际科技创新中心建设，将粤港澳大湾区建成全球科技创新高地和新兴产业策源地，需要从四 个方面转变思路。一是从跟踪追赶转向部分领域引领超越；二是从集成创新转向原始创新；三是从终端 产品创新转向中间品创新；四是从协同创新转向创新集群。 全国政协委员、国务院发展研究中心原副主任余斌提出，金融要服务于四个方面的发展。一是服务于高 质量发展，要贯彻落实中央金融工作会议的精神，发挥自身 ...

Group 1 - The provincial government of Heilongjiang is focusing on high-quality development led by party building, emphasizing the importance of style construction and strict governance to ensure revitalization and development [1][2] - The meeting highlighted the need for local party organizations to enhance their political awareness and responsibility in promoting strict governance, addressing issues like misconduct and protecting public interests [2] - The provincial government is actively seeking financial cooperation with China International Capital Corporation (CICC) in key areas such as modern agriculture, digital economy, and technology innovation to support the construction of a modern industrial system [3] Group 2 - The Heilongjiang Provincial Agricultural and Rural Affairs Department is strengthening training for agricultural associations to support modern agricultural development and enhance service capabilities [6][7] - Harbin city is soliciting public suggestions for its "14th Five-Year" industrial development plan, aiming to gather insights from various stakeholders to ensure a forward-looking and actionable strategy [8] - The Harbin Cultural Tourism Sports Expo and the 2025 Harbin Marathon are being held to promote the integration of culture, sports, and tourism, enhancing the city's profile and attracting visitors [8][9] Group 3 - The Suifenhe city is focusing on innovative招商引资 methods and optimizing project construction to support high-quality revitalization and development [10]

Group 1: Global Economic Landscape - China's macroeconomic policies are focused on expanding domestic demand and maintaining medium to high-speed economic growth, providing essential support for the global economy [1] - Developed economies are facing weakened growth momentum and structural challenges exacerbated by tariff policies, leading to a decline in consumer spending and capital confidence [2][3] - The collective rise of global South countries is contributing significantly to world growth, with their trade accounting for 45% of global goods trade and contributing 80% to global growth [4] Group 2: Challenges in Developed Economies - Developed economies are experiencing a self-reinforcing cycle of decline due to protectionist measures, which fail to address structural economic issues [3] - The U.S. tariff policies have not resulted in the expected manufacturing return, instead increasing production costs and inflation, leading to a drop in personal consumption expenditure growth to 1.4% [2] - Other developed economies, such as Europe and Japan, are also suffering from reduced growth momentum due to their reliance on U.S. exports and supply chain connections [2] Group 3: Resilience of Global South - Global South countries are diversifying their economies and reducing reliance on traditional markets, with a young population providing a robust labor force and consumer market [4] - These countries are actively pursuing industrialization and integration into higher-value segments of global supply chains, enhancing their economic resilience [4] - Strengthened South-South cooperation is providing a robust support system against external risks, with initiatives like BRICS+ and RCEP enhancing regional collaboration [5][6] Group 4: China's Role in the Global Economy - China is emerging as a "stabilizing source" in the global economy, with a growth rate of 5.3% in the first half of 2025, attracting significant foreign investment [7] - The country is committed to high-level opening-up policies, with a 11.7% increase in newly established foreign enterprises, particularly in high-tech manufacturing [8] - China advocates for multilateralism and actively participates in global governance reforms, contributing to a more inclusive international economic order [9]

日本少子化问题加剧，对外国劳动力的依赖正在加强。日本国际协力机构（JICA）等 2022年汇总的估 算数据显示，要想2040年实现日本政府提出的经济增长目标，需要的外国劳动者达到674万人。 关于在留外国人的海外汇款，存在两大风险。一个是违法。国际汇款容易被恶意利用于洗钱等金融犯 罪。原本只有在官方部门注册的公司才能提供服务，但外国人使用未注册的地下汇款公司、委托朋友和 熟人代为汇款的情况不断发生。 在金属加 工厂工作的技能实习生（神奈川县绫濑市） 1~6月在日外国人向母国汇款金额为5068亿日元，增长38%，创下半年度历史新高。由于奖金和长假影 响，汇款通常在下半年容易增加，全年有望首超1万亿日元。海外汇款存在两大风险…… 居住在日本的外国人向母国汇款的金额正在增加。2025年1~6月的汇款金额为5068亿日元，比上年同期 增长38%，创下半年度历史新高。随着外国人就业扩大，预计海外汇款今后将进一步增长，确保透明性 和安全性成为课题。 日本财务省国际收支统计数据显示，在日外国人面向海外的汇款在过去10年间增至2倍多。由于发放年 底奖金和长假影响，汇款金额通常在下半年容易增加。因此，全年很有可能超过2024年 ...

Macro Economy - Russian President Putin stated that economic relations between Russia and China have reached an unprecedented high level, with trade volume increasing by approximately $100 billion since 2021, and most transactions are now conducted in local currencies [3] - The Director of the International Cooperation Department of the National Financial Supervision Administration highlighted recent advancements in financial reform and innovation in the Guangdong-Hong Kong-Macao Greater Bay Area, including the signing of the CEPA trade agreement allowing Hong Kong and Macao banks to operate card services in mainland China [3] - The spokesperson for the Ministry of Commerce criticized the U.S. decision to revoke the "validated end-user" authorization for three semiconductor companies in China, stating it would negatively impact the global semiconductor supply chain [3] - China's electricity consumption now accounts for 30% of total energy consumption, significantly higher than the global average, and is expected to rise to over 40% by 2035 [3] - The Guangzhou Municipal Bureau of Commerce announced the suspension of the automobile "replacement and upgrade" subsidy policy starting from August 30, 2025 [3] Investment News - In the first half of the year, 2,908 A-share companies reported positive growth in net profit attributable to shareholders, accounting for 54%, with major banks like ICBC, CCB, ABC, and BOC reporting net profits exceeding 100 billion yuan [4] - As of August 30, 2025, seven listed banks have been targeted by insurance capital for stake increases, with Agricultural Bank of China, China Merchants Bank, and Postal Savings Bank of China each being targeted three times [4] - Central Huijin did not make significant changes in ETF investments in the first half of the year, with an estimated expenditure of over 210 billion yuan on 12 ETF products, reaching a total ETF market value of 1.28 trillion yuan by the end of Q2 [4] Company Movements - Yunda Holdings noted a cautious optimism regarding price trends in the express delivery sector, as prices have started to recover in regions like Guangdong and Zhejiang due to ongoing regulatory efforts against "involution" competition [6] - Xingyin Fund appointed Huang Deliang as the new chairman, with the previous general manager no longer serving in that role [6] - Muyuan Foods signed a strategic cooperation agreement with Charoen Pokphand Group to enhance collaboration in various sectors including feed, pig farming, and food processing [6] - Lenovo Group and Beijing Bank signed a strategic cooperation agreement to strengthen collaboration in artificial intelligence and accelerate the digital transformation of small and medium-sized enterprises [6] - JD.com's discount supermarket strategy is expanding, with four stores opening in Suqian, leveraging JD's supply chain to offer direct-sourced products [6] International Dynamics - The U.S. State Department denied visas to Palestinian President Mahmoud Abbas and around 80 other Palestinian officials for the upcoming UN General Assembly, prompting the EU to urge the U.S. to reconsider this decision [7] - Following the dismissal of Prime Minister Pita Limjaroenrat, Thailand's cabinet appointed Deputy Prime Minister and Interior Minister Puttipong Punnakanta as acting Prime Minister [7] Selected Insights - NIO's CEO Li Bin emphasized the importance of combining long-term strategies with short-term execution to enhance competitiveness, aiming for profitability in Q4 despite challenges [8] - A report on the competitive landscape of the food delivery sector revealed insights from the Q2 earnings reports of JD, Meituan, and Alibaba, highlighting the ongoing battle among these companies [8]

Core Viewpoint - Yuexiu Capital (000987.SZ) reported a decline in total revenue for the first half of 2025, while net profit showed significant growth, indicating a mixed performance in financial results [1] Financial Performance - The company achieved total operating revenue of 5.537 billion yuan, a year-on-year decrease of 17.94% [1] - Net profit attributable to shareholders reached 1.558 billion yuan, reflecting a year-on-year increase of 53.40% [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 1.551 billion yuan, marking a year-on-year growth of 78.96% [1] - Basic earnings per share were reported at 0.3093 yuan [1] Dividend Distribution - The company proposed a cash dividend of 0.90 yuan (including tax) for every 10 shares to all shareholders [1]