Group 1: Tourism Industry Impact - The Japanese tourism industry is experiencing a significant decline due to a "cancellation wave" of Chinese tour groups, leading to a substantial drop in customer numbers for travel agencies targeting the Chinese market [1] - The president of Chazen Company reported that the number of Chinese clients has dropped to zero, indicating severe losses for businesses reliant on Chinese tourism [1] - JTB Travel Agency predicts a further decline in total inbound tourists to Japan by 2026 compared to 2025, primarily due to the decrease in Chinese visitors [1] Group 2: Retail Sector Decline - Retail sales in Japan are declining as the number of Chinese tourists visiting stores has decreased, with a reported 2.5% year-on-year drop in sales from foreign visitors in November 2025, amounting to approximately 50.2 billion yen [2] - Major department stores in Japan, including Mitsukoshi Isetan and Takashimaya, have reported significant declines in tax-free sales, with declines ranging from 11.1% to 35% for stores targeting Chinese customers [2] Group 3: Financial Market Reactions - Concerns over deteriorating Sino-Japanese relations have led to declines in stock performance, particularly in sectors like automotive and electronics, with significant sell-offs in semiconductor stocks that rely heavily on exports to China [3] - A potential year-long export control on rare earth materials could result in an estimated economic loss of about 2.6 trillion yen for Japanese companies, leading to a projected 0.43% decrease in Japan's annual GDP [3] Group 4: Broader Economic Concerns - Nearly 60% of respondents in a recent survey expressed that the deterioration of Sino-Japanese relations due to controversial statements by the Japanese Prime Minister would have negative impacts on the Japanese economy [3] - Business leaders from major economic groups in Japan have voiced their anxieties regarding the ongoing tensions and their potential impact on revenue for tourist destinations [3]

Core Viewpoint - Recently, Jiujiang Liansheng Yijia Supermarket Co., Ltd. was established with a registered capital of 3 million RMB, indicating a new player in the retail market focusing on a diverse range of products including e-cigarettes and food sales [1] Company Overview - Company Name: Jiujiang Liansheng Yijia Supermarket Co., Ltd. [1] - Legal Representative: Ding Yu [1] - Registered Capital: 3 million RMB [1] - Business Type: Other limited liability company [1] - Business Duration: Until January 15, 2026, with no fixed term thereafter [1] - Registration Authority: Jiujiang Lianxi District Market Supervision Administration [1] Shareholding Structure - Shareholder 1: Liansheng Yijia E-commerce Co., Ltd. - 95% ownership [1] - Shareholder 2: Jiujiang Meilejia Network Technology Co., Ltd. - 5% ownership [1] Business Scope - The company’s business scope includes: - Retail of e-cigarettes, food production, food sales, catering services, and internet sales of food [1] - Retail of tobacco products, publications, and various consumer goods including baby formula, health foods, and daily necessities [1] - Sales of medical devices, cosmetics, furniture, and various retail items such as clothing, jewelry, and office supplies [1] - Internet sales (excluding items requiring licenses) and agricultural product sales [1] - The company is authorized to operate within the limits of its business license and relevant approvals [1]

12月广东省新注册经营主体数量稳居首位 分省来看，广东省新注册经营主体数量连续多月稳居第一，12月份新注册经营主体26.22万家，同比增长 15.59%，在全国占比高达11.69%。 其余排名前十的省份还有河南省、浙江省、湖北省和江苏省等，具体数据如下表： 由新华财经国家金融信息平台打造，从微观数据见微知著，为市场提供更加具有"颗粒度"的经济观测和 经济画像。本期发布的是2025年12月全国企业注册变化以及各省份、各行业的特点。 新华信用数据显示，2025年12月，全国新注册经营主体224.29万家，比上月增加11.39万家。但是，同比 还处于下降态势，同比下降7.07%。具体如下图所示： 分行业来看，在12月份，注册最多的依然是零售业，全月共注册22.21万家，同比增长9.4%。而同比增 速最快的是软件和信息技术服务业，全月共注册5.65万家，同比增长34.73%。 12月，新注册经营主体数量排名前十的行业依次为：零售业、批发业、科技推广和应用服务业、商务服 务业、软件和信息技术服务业、建筑装饰装修和其他建筑业、专业技术服务业、农业、文化艺术业和房 地产业。如下图： | 地区 | 2025年 12月新注册经 ...

"日本关东地区镰仓市接待的外国游客中，来自中国的游客占比超过一半，其数量减少已使当地土特产商店的经营面临严峻局面。"近日，日本 无限合同会社首席经济学家田代秀敏接受记者采访时表示，中国游客减少，将使日本经济承受更多下行压力。 2025年11月，日本首相高市早苗在国会答辩中就日本安保法中的"存亡危机事态"悍然发表涉台挑衅言论，中方提出严正交涉和强烈抗议。中日 关系迅速遇冷。 以旅游业为支柱产业的日本关西地区，高度依赖中国游客市场。大阪观光局发布的调查数据显示，截至2025年12月底，其旗下20家会员酒店 中，50%至70%的中国游客订单已取消。另据关西机场株式会社预测，今年1月至3月，关西国际机场往返中日之间的航班将平均减少28%。 东日本国际旅行社社长谢善鹏接受采访时表示，去年12月起，该旅行社所有来自中国大陆的修学旅行团、企业和政府交流团等团体订单已全部 取消。"即便客户已支付定金，他们宁愿承担违约金，也取消了行程。"他说，不仅如此，散客也纷纷取消行程，今年1月几乎"零问询"。 "部分专门接待中国游客的巴士公司甚至重现'无薪休假'。"谢善鹏说，中国游客减少对日本旅游产业链的影响正在逐步显现。 2025年11 ...

Core Viewpoint - The Hong Kong stock market experienced a short-term pullback in AI-related stocks, with major internet companies like Alibaba, Kuaishou, and Bilibili seeing declines, while the Hong Kong Internet ETF showed strong buying interest despite the drop [1][2]. Group 1: Market Performance - As of January 15, major internet stocks in Hong Kong, including Alibaba-W, Kuaishou-W, and Bilibili-W, fell over 2%, while Tencent Holdings dropped more than 1% [1]. - The Hong Kong Internet ETF (513770) saw a price decline of 1.55%, but it still exhibited a significant premium, indicating strong buying sentiment [1]. - Over the past 10 days, the Hong Kong Internet ETF has recorded net inflows of 1.116 billion yuan, with funds increasing on 9 out of those 10 days [1]. Group 2: AI Developments - Alibaba's Qianwen App has integrated with various Alibaba ecosystem services, enabling AI shopping functionalities, and has surpassed 100 million monthly active users within two months of launch [2]. - Analysts suggest that Alibaba's AI initiatives are entering a competitive phase focused on ecosystem development, with expectations for major model updates in 2026 [2]. - The AI applications are anticipated to evolve from usable to highly effective by 2026, with a focus on diverse business models and user engagement [2]. Group 3: Investment Opportunities - The Hong Kong Internet ETF (513770) tracks the CSI Hong Kong Internet Index, which includes major players like Alibaba, Tencent, and Xiaomi, with the top ten stocks accounting for over 76% of the index [3]. - The latest fund size of the Hong Kong Internet ETF reached 14.899 billion yuan, marking a historical high, with an average daily trading volume exceeding 600 million yuan since 2025 [4]. - For investors seeking to balance technology exposure with stability, the Hong Kong Large Cap 30 ETF (520560) is recommended, featuring a mix of high-growth tech stocks and stable dividend-paying companies [4].

1月15日，港股AI短线回调，互联网龙头集体下行，截至发稿，阿里巴巴-W、快手-W、哔哩哔哩-W跌 超2%，腾讯控股跌逾1%，小米集团-W、美团-W跟跌。港股AI核心资产——港股互联网ETF （513770）场内价格现跌1.55%，再现宽幅溢价，显示买盘资金态度强势，逢跌积极抢筹。 上交所数据显示，港股互联网ETF（513770）近10日有9日获资金增仓，合计获资金净流入11.16亿元。 | 分时 · | F9 盘前盘后 酷加 九杭 面线 工具 @ 2 > | 港股互联网ETF O | 0.572 -0.009 -1.55% | 513770[港股互联网ETF] 10:31 价 0.572 涨跌 | 2195 | 513770 | 0.59 | | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | SSE CNY 10:31:38 交易中 查看L2全图 | T 40 R 2 100 | 单位(万元) | 冷借生费 花宝 ...

美国普查局数据显示，10月份企业库存环比增长0.3%，之前一个月增幅0.3%。 13位经济学家的预测中值为增长0.1%（预测区间： 0.0%至增长0.3%）。 10月份批发商库存环比增长0.2%，此前一个月环比增长0.5%。 10月份批发商库存环比增长0.2%，此前一个月环比增长0.5%。 10月份制造商库存环比持平；零售商库存环比增长0.6%。 责任编辑：李桐 10月份制造商库存环比持平；零售商库存环比增长0.6%。 责任编辑：李桐 美国普查局数据显示，10月份企业库存环比增长0.3%，之前一个月增幅0.3%。 13位经济学家的预测中值为增长0.1%（预测区间： 0.0%至增长0.3%）。 ...

Group 1 - The decline in Chinese tourists is significantly impacting the local economy in Japan, particularly in areas like Kamakura, where over half of foreign visitors were from China [1] - The Kansai region, heavily reliant on Chinese tourists, has seen a cancellation of 50% to 70% of orders from Chinese tourists in member hotels, according to the Osaka Tourism Bureau [3] - Predictions indicate a 28% average reduction in flights between Kansai International Airport and China from January to March [3] Group 2 - The decrease in Chinese tourists is also affecting Japan's retail sector, with major department stores reporting a decline in tax-free sales, including a 20% drop at Mitsukoshi Isetan [5] - Areas in Japan that depend on foreign tourists for economic support and employment are at risk, especially if hotels catering to Chinese tourists are forced to close [5]

14日午后，港股AI延续活跃，阿里巴巴-W涨超6%，刷新逾两个月以来新高；快手-W一度涨近7%，现 涨超5%，哔哩哔哩-W涨超4%，腾讯控股涨逾1%。港股AI核心工具——港股互联网ETF（513770）早 盘溢价上攻，场内价格一度涨逾3%，现涨2.65%，重返半年线上方。 | ● 防分 | | | F9 盘前盘后 叠加 九杭 画线 工具 @ 2 >> | | | | | | 港股互联网ETF ① | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 0.586 | 513770[潮胶互联网ETF] 10:49 价 0.582 滚跌 0.01 | | | E | | 0.582 +0.015 +2.65% | | | 513770 | | | 1 - Super 1 - | | | | | SSE CNY 13:37:44 交易中 查看L2全覆 | | | T+0 BB / 12 34 | | | Ars | | | 1:65% | | | 净值击势 华室中证潜股通互联网ET 近5日净流入 | | 单位(万元) | | 0.567 | ...

| 分时 · | | | F9 盘前盘后 酷加 九转 画线 工具 @ 2 >> | | | | | | 港股互联网ETF 1 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | 513770[港股互联网ETF] 09:48 价 0.574 涨跌 0. | | | 0.574 | +0.007 +1.23% | | | | 8 513770 | | 0572 | 2 | | | 0.88% | | SSE CNY 9:48:17 交易中 查看L2全播 | | | | 140 微 / C + 单位(万元) | | | | | | | 净值走势 | 华宝中证港股通互联网ETF | | 近5日净流入 | | | | | | | | | 委托 | 11.84% 查看 | 4427 | | | | | 0.567 | | | | 0.00% | 费五 | 0:579 | 78672 | | | 39965 | | | | | | | 英四 | 0.578 | 72915 | | | | | | | | | | 奥三 | ...