很多人常常陷入一个思维误区：发达国家玩金融，发展中国家做制造。这似乎是现代化的必然路径。然而，最近我听到一位英国专家的观点，却让我对这一 传统认知产生了疑问。他直言不讳地表示，当欧美国家还在沉迷于印钞、依赖金融体系输血时，唯独中国坚守着一项最为艰难、却又至关重要的任务——死 磕实体经济。这是一个资本榨取与实体创造并行的时代，全球财富的真正分布不再仅仅是国家间的较量，而是资本寡头对决实体苦干者的较量。欧美选择了 轻资产+资本控制的道路，而中国则走上了产业链全覆盖+制造业升级的艰难之路。这背后，隐藏着怎样的世界趋势呢？ 欧美依靠金融创新来推动GDP增长，而中国则通过实业投资来拉动经济增长。这一现实所意味着的，是：首先，全球实体产业在西方国家正面临结构性衰 退，金融资本对生产要素的控制空间越来越小，经济增长逐渐沦为泡沫；其次，中国正通过实体经济这一最沉重的路径，寻找真正的系统性安全。换句话 说，一旦全球市场遭遇剧烈动荡，那些没有制造能力、没有物流体系的国家，将会深陷滞涨的泥潭；第三，未来的世界比拼的不是虚拟经济的繁荣，而是哪 个国家能承受住真正的挑战。这种反繁荣假象的战略思维，已经悄然成为全球南方国家的共识。在这场 ...

转自：云南日报 云南省优化营商环境促进合作发展恳谈会在昆举行 共同认识机遇抓住机遇用好机遇 让企业发展更顺心省心放心暖心 王予波致辞 2月7日，云南省优化营商环境促进合作发展恳谈会在昆明举行，向国内外企业推介我省重点领域投资机 遇，与企业家们深入交流洽谈、共启合作新篇。 受省委书记王宁委托，王予波代表省委、省政府欢迎各位企业家。他与大家分享了宁德时代在昆明投资 建设新能源电池项目、恒利智造在曲靖落地铝合金零件3D打印生产线、北京宏福集团在大理建成现代 农业产业园、新加坡元立集团在保山打造农文旅综合体等4个事例，多角度展现了我省生态环境、自然 资源、绿色能源、对外开放等方面比较优势，以及众多企业认识机遇、抓住机遇、用好机遇、共享机 遇，在深耕云南中实现更好更快发展的生动故事。 王予波表示，"十五五"是云南与全国同步基本实现社会主义现代化夯实基础、全面发力的关键时期，第 一位的战略任务是打好产业转型升级攻坚战，企业是不可或缺的重要支撑、重要力量。我们将扎实推 进"项目攻坚年"，深入实施提振民间投资、优化营商环境等攻坚行动，始终把企业和企业家当作自己 人，竭诚欢迎、竭诚支持、竭诚服务，让大家在云南投资更加顺心、省心 ...

Economic Growth - Nanning's GDP for 2025 is projected to reach 621.246 billion yuan, marking a 4.7% increase from the previous year, making it the first city in Guangxi to surpass 600 billion yuan in GDP [1] - The city's GDP growth contributes 19% to the overall growth of Guangxi, with key indicators such as industrial added value, retail sales, and foreign trade all exceeding the regional average [1] Industrial Development - Nanning's industrial structure is continuously optimizing, with the primary industry accounting for 10.6%, secondary industry for 19.3%, and tertiary industry for 70.1%, indicating a robust development in new business models and sectors [1] - The city's industrial added value is expected to grow by 9.1% in 2025, driven by both emerging industries like the new energy battery sector and the transformation of traditional industries towards higher-end, intelligent, and green production [1] Trade and Consumption - The retail sales of consumer goods are projected to grow by 4.1% in 2025, reflecting a recovering consumption market [2] - Nanning's total foreign trade import and export is expected to reach 104.437 billion yuan, with a growth rate of 12.4%, particularly strong growth in trade with the EU, Africa, and ASEAN [2] Social Development - Over 80% of the city's general public budget expenditure is directed towards improving people's livelihoods, with residents' income growth keeping pace with economic growth and a reduction in the urban-rural income gap [2] - The city aims to maintain a focus on steady growth, employment, and market stability to achieve its annual goals [2]

Group 1 - The core viewpoint is that Zaozhuang City in Shandong Province is transforming from a resource-exhausted city to a hub for new energy and materials industries, with non-coal industry value added now accounting for 83% of the economy and high-tech industry output rising to 55.3% [1] - Zaozhuang has introduced the country's first lithium battery industry development promotion regulations and established a four-dimensional promotion mechanism involving "chain leader + chain master + alliance + fund" to develop the lithium battery industry as a primary sector [1] - The city has developed 280 new energy battery enterprises and is planning to build a zero-carbon smart valley that integrates urban and industrial development, focusing on solid-state batteries, perovskite solar cells, and hydrogen fuel cells [1] Group 2 - Zaozhuang is innovating an "ecology + industry" comprehensive governance model, aiming to complete the remediation of 105,500 acres of subsidence areas and ecological restoration of over 24,000 acres of abandoned mines by the end of 2025 [2] - The city is implementing ten major projects, including afforestation and river management, with goals to complete 4,500 acres of tree planting and 1,030 acres of wetland restoration by 2025 [2] - The city aims to become a leading model for green and low-carbon transformation in resource-based cities, focusing on building a new energy manufacturing base and a cultural tourism city along the Grand Canal [2]

Group 1 - The core viewpoint is that Zaozhuang City in Shandong Province is actively transforming from a resource-depleted city to a hub for new energy and materials industries, with non-coal industry value added reaching 83% and high-tech industry output accounting for 55.3% [1] - Zaozhuang has introduced the country's first lithium battery industry development promotion regulations and established a four-dimensional promotion mechanism involving "chain leader + chain master + alliance + fund" to develop the lithium battery industry as a priority [1] - The city has developed 280 new energy battery enterprises and is planning to build a zero-carbon smart valley integration demonstration area, focusing on solid-state batteries, perovskite solar cells, and hydrogen fuel cells [1] Group 2 - Zaozhuang is implementing an innovative "ecology + industry" comprehensive governance model, aiming to complete the governance of 105,500 acres of subsidence areas and ecological restoration of over 24,000 acres of abandoned mines by the end of 2025 [2] - The city is also undertaking ten major projects, including afforestation and wetland restoration, with goals to plant 4,500 acres of trees and restore 1,030 acres of wetlands by 2025 [2] - The municipal government aims to position Zaozhuang as a leading city in green and low-carbon transformation, focusing on building a new energy manufacturing base and enhancing cultural tourism [2]

（文章来源：证券日报） 证券日报网讯 2月6日，璞泰来在互动平台回答投资者提问时表示，当前全球新能源汽车产销量逐年递 增，储能超预期增长，消费电子复苏，带动动力、储能及消费电池出货量不断增长，市场需求旺盛。公 司作为新能源电池上游关键材料及设备供应商，客户增量需求明显，公司将全力以股权激励考核目标为 基础，努力并有信心实现既定的经营目标。 ...

成文日期:20260204 报告周期:日报 员：杜宇（从业资格号：F3075043; 投资咨询从业证书号：Z0017815) 1期货市场 2026年2月4日,上海期货交易所镍期货主力合约(NI.SHF) 呈现强势上涨走势。当目开盘价为 13.54 万元/吨,盘中最高价达到 13.777 万元/吨,最低价下探至 13.45 万元/吨,最终以 13.768 万元 /吨收盘,较前一交易日上涨 3.78%。全天成交 481,566 手，持仓量 为99,453 手。 2 现货市场基差分析 硫酸镍市场表现活跃, 2 月 4 日电池级硫酸镍价格报 32,850 元/ 吨,较上一交易目持平,但近二十个交易日累计上涨 12.69%;电镀 级硫酸镍价格报 32.750元/吨,同样持平,近二十个交易日累计上涨 6.5%。硫酸镍价格的持续上涨反映出新能源电池产业链对镍需求的 強劲支撑。 3 市场动态 研究咨询: 028 6130 3163 邮箱: institute@gjqh.com.cn 投诉热线: 4006821188 请务必阅读文末风险揭示及免责声明 1.供应端扰动：高品质银紧缺,叠加美元下跌提振及全球关键矿产 储备计划升温, ...

Economic News - The Ministry of Finance, General Administration of Customs, and State Taxation Administration announced a "zero tariff" policy for imported goods purchased by residents of Hainan Free Trade Port, allowing an annual exemption limit of 10,000 yuan per person [1] - The Shanghai Futures Exchange will adjust the price fluctuation limits and trading margin ratios for gold and silver futures starting February 9, 2026, with gold futures' fluctuation limit increasing from 16% to 17% [2] - The Ministry of Industry and Information Technology and other departments released a plan for the high-quality development of traditional Chinese medicine, aiming to cultivate 60 high-standard raw material production bases by 2030 [3] - The Ministry of Commerce reported a 7.4% year-on-year growth in service trade in 2025, with knowledge-intensive service trade growing by 6.6% [4] - The National Internet Information Office and 11 other departments issued opinions to enhance digital services for foreign personnel entering China, aiming for a more interconnected digital service system by 2030 [5] Key Company Information - Meituan announced the acquisition of Dingdong Maicai's China business for approximately $717 million (about 5 billion yuan) [6] - Guoxuan High-Tech plans to raise 5 billion yuan through a private placement to expand its new energy battery production capacity [7] - Nanjing Mining Group intends to acquire a 10% stake in Eagle Valley Gold through a cash investment of $30 million [8] - Muyuan Foods reported a 2.73% year-on-year increase in the sale of live pigs in January 2026, with sales revenue declining by 11.93% [9] - Baidu announced a new stock repurchase plan of up to $5 billion, effective until December 31, 2028, to enhance long-term shareholder value [10] Industry Insights - The rubidium and cesium market is expected to enter a new structural expansion cycle driven by the penetration of perovskite solar cells and the development of space photovoltaics [11] - Perovskite solar cells are projected to have a market penetration rate of 30% by 2030, significantly increasing from 1.3% in 2025 [12] - The flexible structure of perovskite solar cells allows for applications in various fields, including building-integrated photovoltaics (BIPV), wearable devices, and vehicle power generation [13] - The global BIPV market is expected to grow from $16.66 billion to $47.02 billion between 2026 and 2031, with a CAGR of 23.06% [14] - The demand for rubidium is projected to grow at a CAGR of 115% from 2025 to 2030, driven by the increasing production of perovskite solar cells [15]

Market Overview - A-shares experienced a decline in the afternoon session, with the Shanghai Composite Index closing at 4065.58 points, down 0.25% [1] - The Shenzhen Component fell by 0.33%, and the ChiNext Index decreased by 0.73% [1] Chemical Sector Performance - The chemical sector showed strong performance, with Wanhua Chemical rising over 3%, leading to a "limit-up" trend among individual stocks [2][4] - Notable gains were seen in stocks such as Juhua Co., Baofeng Energy, and Rongsheng Petrochemical, with several stocks hitting the daily limit [4] - The total market saw 2748 stocks rise, with 63 hitting the daily limit, while 2545 stocks declined [2] Trading Volume - The total trading volume for the Shanghai and Shenzhen markets was 2.15 trillion yuan, a decrease of 30.5 billion yuan compared to the previous trading day [2] New Energy Sector - The new energy sector experienced significant gains, particularly in the battery segment, which rose by 5% [6] - Notable individual stock performances included Ningde Times, which increased by 1.7%, bringing its market capitalization to 1.6967 trillion yuan [6] Lithium Battery Industry - The lithium battery supply chain is showing signs of improvement, with over 70 A-share listed companies disclosing performance forecasts, of which more than 50 reported year-on-year profit growth [8] - Companies such as Yiwei Lithium Energy, Ganfeng Lithium, and Tianqi Lithium saw notable increases in their stock prices [8] Traditional Chinese Medicine Sector - The traditional Chinese medicine sector saw a rise due to favorable policy announcements, with stocks like Hansen Pharmaceutical hitting a 10% limit-up [9] - The Ministry of Industry and Information Technology announced plans for the high-quality development of the Chinese medicine industry from 2026 to 2030 [9] Alcohol Sector Decline - The alcohol sector ended a four-day rally, with stocks like Kweichow Moutai and Wuliangye experiencing declines of over 2% [11] - The Kweichow Moutai stock price fell by 2.57%, with a market capitalization of 1.8972 trillion yuan [12]

Group 1 - The Hang Seng Index fell by 1.13%, down 304 points, closing at 26,580 points, while the Hang Seng Tech Index decreased by 0.47% [1] - Three new stocks were listed: Dazhu CNC (03200) rose by 18%, Muyuan Foods (02714) increased by 4.72%, and Zhuozheng Medical (02677) surged by 34% [1] - Zhongxin Hang (03931) saw a 3.83% increase, with a 630% year-on-year growth in commercial battery deliveries and plans for full circulation of H-shares [1] - Long Resources (01712) experienced a 30% intraday surge, with expected net profit growth of up to 3.8 times year-on-year [1] - Changfei Optical Fiber (06869) rose over 10%, with institutions optimistic about fiber optic manufacturers benefiting from price increases [1] - Nuo Cheng Jianhua (09969) increased by over 11%, achieving profitability for the first time due to the volume of Obutinin and growth in BD revenue [1] - Nine Dragons Paper (02689) rose over 5%, benefiting from improved self-sufficiency in wood pulp and favorable industry supply-demand dynamics [1] - Jiaxin International Resources (03858) increased by over 5%, supported by supply contraction driving up tungsten prices [1] Group 2 - Fuhong Hanlin (02696) rose over 5% after licensing rights to Hanshuo in Japan to Eizai for a total transaction amount of approximately $388 million [2] Group 3 - Tongda Group (00698) increased by over 6%, expecting to turn a profit with a maximum earnings forecast of 125 million HKD for the previous year [3] - NIO-SW (09866) rose over 5%, marking its first quarterly profit with an expected adjusted operating profit of up to 1.2 billion CNY for the last quarter [3] - Cryptocurrency ETFs and related stocks continued to decline, with Bitcoin dropping below $65,000 amid ongoing sell-offs in the crypto market [3]