2025年10月16日，博时基金2025年第四季度投资联席会在深圳成功举办。本次会议以"乐观其势，力展 其长"为主题，围绕全球宏观变局、中国资本市场前景、产业投资机会等核心议题展开深度研讨。来自 博时基金、兴业证券、申万宏源、浙商证券、天风证券、民生证券等多位资深专家发表演讲，为线上线 下参会者呈现一场思想盛宴。 开幕致辞：坚定长期信心，践行高质量发展使命 申万宏源研究所总经理、首席策略分析师王胜在策略分享中提出"待到山花烂漫时"的乐观展望。他认 为，2025年四季度市场将提前反映2026年预期，A股估值仍具吸引力。王胜强调，中国制造业全球占比 已达32%，企业定价权提升与"反内卷"政策将推动盈利超预期。 浙商证券首席经济学家李超从货币政策与利率本质出发，提出"四层次决策框架"，即中美博弈、社会稳 定、结构转型与经济增长。他指出，在当前结构转型为主导的背景下，货币政策更注重资金供求关系而 非单纯基本面。 会议伊始，博时基金党委书记、董事长张东在致辞中回顾了2025年前三季度中国经济的亮眼表现。他指 出，在全球宏观环境复杂多变、美联储开启降息周期的背景下，中国经济以5.3%的增速成为全球亮 点，资本市场表现活跃 ...

转自：北京日报客户端 作为助推北京创新发展的"双发动机"产业之一，本市医药健康产业正加速向具有全球影响力的现代化医 药健康产业集群迈进。10月16日，记者从北京海关获悉，今年前8个月，北京地区医药健康产业相关商 品出口明显增长，医疗仪器及器械、医药材及药品分别出口58.3亿元、34.3亿元，分别增长21.5%、 6.8%。 科园信海（北京）医疗用品贸易有限公司助理总经理杨海宁对此深有体会，他介绍，该企业进口的疫苗 等货物需要保证2至6摄氏度冷链运输，对通关效率有很高要求。与传统进出区模式相比，智能卡口为其 节省了大量运输时间。据其介绍，今年1至8月，该企业医药产品入区规模达到277亿元，同比增长9%。 据悉，2025年前8个月，北京地区罕见病药品进口26.6亿元，增长59.1%，进口值位居全国之首。其中天 竺综保区进口罕见病药品25.6亿元，增长78.3%，占同期北京地区罕见病药品进口的96.4%。 来源：北京日报客户端 不仅如此，亦庄海关还试点属地远程查检，借助视频技术手段、设备，以远程视频查检代替现场查检， 提高了企业货物通关效率。"我们公司在大兴生物医药基地，距离亦庄海关24公里，现场查检距离远， 实行 ...

Core Viewpoint - NIO is facing a lawsuit from the Government of Singapore Investment Corporation (GIC), which claims that NIO misled investors by inflating revenue and profits through a partnership with Wuhan Weinan Battery Asset Co., leading to investment losses for GIC [2][3]. Group 1: Background of the Lawsuit - The lawsuit is not based on NIO's recent operational performance but stems from a short-selling report released by Grizzly Research in June 2022 [4]. - NIO responded to the allegations in the Grizzly report, stating that it was baseless and contained numerous errors and misleading conclusions [5]. Group 2: Independent Review and Market Reactions - In August 2022, NIO announced the completion of an independent internal review, which found no wrongdoing, with the process overseen by an independent committee and third-party experts [5]. - Following the Grizzly report, major financial institutions such as Deutsche Bank, Morgan Stanley, JP Morgan, and Daiwa Capital released reports supporting NIO and disputing the conclusions of the Grizzly report [5]. Group 3: GIC's Legal Strategy - This is not the first time GIC has initiated lawsuits against publicly traded companies, having previously sued firms like Qualcomm, Merck, and BP for similar reasons [6]. - An analyst noted that GIC's actions serve dual purposes: financial claims and as part of a risk management strategy to hedge against potential investment losses during market volatility [6].

Market Performance - The Hang Seng Index decreased by 0.08% and the Hang Seng Tech Index fell by 0.14% [1] - Pharmaceutical stocks generally experienced a pullback, while technology stocks showed mixed performance [1] Sector Movements - The non-ferrous metals sector followed the upward trend in futures, with China Silver Group rising over 2% [1] - Sanhua Intelligent Control opened nearly 5% lower after clarifying that reports of receiving a large order for robots were false [1]

据市场监管总局消息，今年以来，市场监管部门围绕医疗、药品、医疗器械、保健食品、金融等重点领域，紧盯直播 电商广告、AI生成广告等新兴业态，持续加大互联网广告监管执法力度，切实维护互联网广告市场秩序，有力防范互 联网违法广告加剧市场非理性竞争。前三季度，全国市场监管部门共查处互联网违法广告案件22185件，罚没款1.11亿 元。现选取一批已办结的互联网违法广告典型案例予以公布。 市场监管总局公布十起互联网违法广告 曲型案例 发布时间:2025-10-16 17:00 信息来源:市场监管总局 今年以来,市场监管部门围绕医疗、药品、医疗器械、保健食品、金融等重点领域,紧盯直播电商广告、A I生成广告等新兴业态,持续加大互联网广告监管执法力度,切实维护互联网广告市场秩序,有力防范互联网违 法广告加剧市场非理性竞争。前三季度,全国市场监管部门共查处互联网违法广告案件22185件,罚没款1.11亿 元。现选取一批己办结的互联网违法广告典型案例予以公布。 一、福建省厦门市集美区市场监管局查处苗古金贴(厦门)大药房有限公司违法广告案 经查,苗古金贴(厦门)大药房有限公司在互联网发布未经审查的"苗古金贴远红外治疗贴"等医疗器械 ...

截至收盘，沪指涨0.1%报3916.23点，深证成指跌0.25%报13086.41点，创业板指涨0.38%报3037.44点， 上证50指数涨0.59%，科创50指数跌近1%，沪深北三市合计成交19489亿元。 盘面上看，工程机械、钢铁、有色、燃气、化工等板块走低，煤炭、保险、银行板块强势拉升，存储芯 片、创新药概念等活跃。 东兴证券指出，市场震荡消化后延续慢牛趋势。A股中期核心趋势未改，短期外部冲击影响有限，随着 4000点附近指数震荡消化整理，未来趋势维持上行趋势，流动性和高科技产业发展两大核心逻辑未有实 质性改变。策略上，建议坚定牛市信心，继续看好市场中期上行趋势。在品种配置上，大科技板块核心 地位不会动摇，短期中美博弈对涉及海外资产和海外产业链的科技公司可能会有一定扰动作用，投资者 可适当调整方向，建议加大对自主可控板块配置力度。周期性板块景气度仍然较好，可作为两个核心主 线之一配置，从景气度角度出发，军工、医药、新能源等行业建议继续重点关注。高股息红利股随着一 轮调整，股息收益率吸引力上升，稳健投资者可重点关注。 16日，三大股指午后震荡回落，尾盘再度企稳回升，沪指、创业板指双双翻红；科创50、北证 ...

10月16日，A股市场冲高回落，三大指数盘中一度集体翻绿。截至收盘，沪指涨0.1%，深成指跌0.25%，创业板指涨0.38%。沪深两市成交额1.93万亿，较 上一个交易日缩量1417亿，自9月10日以来再度失守2万亿。 盘面上，市场热点较为杂乱，全市场近4200只个股下跌。 从板块来看，煤炭板块延续强势，大有能源（600403）午后回封涨停，走出5天4板。港口航运板块表现活跃，海通发展（603162）等多股涨停。医药板块 局部走强，贵州百灵、罗欣药业（002793）双双涨停。银行板块集体上涨，农业银行盘中逼近历史高点。 下跌方面，可控核聚变概念股集体大跌，合锻智能（603011）触及跌停。板块方面，煤炭、保险、港口航运等板块涨幅居前，贵金属、半导体、风电等板 块跌幅居前。 消息面上，据智通财经报道，OpenAI被曝正制定五年商业计划，以履行1万亿美元支出承诺。同时，OpenAI还宣布与能源公司SurEnergy已签署一份意向 书，计划在阿根廷建设一个数据中心枢纽，投资额最高可达250亿美元，这将成为该国历史上规模最大的科技基础设施项目之一。 另据21财经·南财快讯记者观察，当前光模块的产业逻辑支撑依旧较为强劲 ...

Core Viewpoint - The A-share market experienced a pullback after an initial rise, with all three major indices briefly turning negative during the trading session. The total trading volume in the Shanghai and Shenzhen markets was 1.93 trillion yuan, a decrease of 141.7 billion yuan compared to the previous trading day, marking a return below 2 trillion yuan since September 10 [1]. Group 1: Market Performance - The market showed a mixed performance with the Shanghai Composite Index up by 0.1%, the Shenzhen Component down by 0.25%, and the ChiNext Index up by 0.38% at the close [3]. - Nearly 4,200 stocks in the market declined, indicating a broad-based sell-off despite some sector strengths [1]. Group 2: Sector Performance - The coal sector continued its strong performance, with major companies like Dayou Energy hitting the daily limit up, achieving a remarkable five days of gains out of four [1]. - The port and shipping sector was active, with multiple stocks, including Haitong Development, reaching the daily limit up [1]. - The pharmaceutical sector showed localized strength, with Guizhou Bailin and Luoxin Pharmaceutical both hitting the daily limit up [1]. - The banking sector collectively rose, with Agricultural Bank nearing its historical high during the session [1]. - In contrast, the controlled nuclear fusion concept stocks experienced a significant decline, with Hezhan Intelligent hitting the daily limit down [1]. - Other sectors that saw declines included precious metals, semiconductors, and wind power, indicating a sector rotation in the market [2].

Core Viewpoint - The Hong Kong stock market has shown strong performance in 2025, with the Hang Seng Index and Hang Seng Tech Index rising by 30.40% and 38.02% respectively, reaching new highs [2][4]. Group 1: Market Performance - Since the beginning of 2025, the Hang Seng Index and Hang Seng Tech Index have both reached new highs, indicating a positive market trend [2]. - The Hang Seng Index peaked at 27,058 points and the Hang Seng Tech Index at 6,461 points on September 18, 2025, marking the highest levels since July 2021 and November 2021 respectively [2]. Group 2: Investment Opportunities - The Federal Reserve's decision to restart interest rate cuts has released global liquidity, making the Hong Kong stock market an attractive investment option due to its valuation advantages [5]. - Southbound capital has accelerated its inflow into the Hong Kong market, with a cumulative net purchase exceeding 1.1 trillion HKD in 2025, providing significant liquidity support [9]. Group 3: Policy and Regulatory Environment - The latest Hong Kong Policy Address has introduced multiple measures aimed at boosting the stock market, including the establishment of an "AI Efficiency Enhancement Group" and initiatives to assist mainland tech companies in financing [12][13]. - The government is exploring various measures to optimize the market ecosystem, such as implementing T+1 settlement rules and promoting the return of Chinese concept stocks [16]. Group 4: Sector Focus - The article highlights three key potential sectors under the "Chinese technology narrative": electronics, new materials, and healthcare, emphasizing the importance of domestic substitution and technological innovation [19][21][22]. - Specific funds focusing on these sectors have shown impressive returns, with one fund in the electronics sector achieving a return of +59.01% over the past year [20].

当天早上，陈茂波与中国常驻联合国代表傅聪会面。陈茂波感谢国家支持多名香港特区青年公务人员参 与联合国初级专业人员计划，以中国人员身份到联合国任职，拓宽视野。陈茂波当天还拜会了中国驻纽 约总领事陈立。(完) 来源：中国新闻网 香港财政司司长：欢迎美国企业和人才来港发展 中新社香港10月16日电 据香港特区政府新闻处消息，当地时间15日，香港特区政府财政司司长陈茂波 在美国纽约访问期间表示，香港欢迎美国企业和人才来港发展，香港将持续为美国和全球各地的投资者 带来机遇。 当地时间10月15日，香港特区政府财政司司长陈茂波(前排右四)在美国纽约出席午餐会，向当地金 融投资、医药、文创等产业和智库的代表介绍香港发展情况。(香港特区政府新闻处供图) 陈茂波当日继续在美国纽约的访问行程。他出席由美中关系全国委员会(简称"委员会")与香港驻纽约经 济贸易办事处联合举办的午餐会。午餐会由委员会会长欧伦斯(Stephen Orlins)主持，有10余位来自美国 金融投资、医药、文创等产业和智库的代表出席。 陈茂波分享了香港最新的经济发展情况，特别谈到香港在推动金融市场、创科发展以及区域供应链等方 面的策略，以及在积极引进企业和人 ...