Market Overview - The A-share market showed a positive trend today, with major indices mostly rising. The Shanghai Composite Index increased by 0.71% to close at 3950.31 points, while the Shenzhen Component Index rose by 2.02% to 13289.18 points. The Sci-Tech 50 Index saw a significant increase of 4.35%, closing at 1462.22 points, and the ChiNext Index rose by 3.57% to 3171.57 points. Overall, 3025 stocks rose, 2273 fell, and 138 remained unchanged, with a total trading volume of 19742 billion yuan, an increase of 3303 billion yuan compared to the previous trading day [1][2]. Industry Performance - Among the primary industries, the telecommunications, electronics, defense, electric equipment, computer, and non-ferrous metals sectors experienced notable gains. Conversely, the petroleum and petrochemical, coal, food and beverage, real estate, transportation, and steel industries faced declines [1][2]. Sector Highlights - The leading sectors in terms of growth included memory storage, circuit boards, HBM, ASIC chips, optical modules (CPO), semiconductor silicon wafers, GPUs, national big fund, semiconductor selections, wafer industry, semiconductor industry, satellite internet, servers, chips, and optical communication [2].

港股三大指数全天震荡走高，其中，恒科指数最佳，尾盘涨幅扩大近2%。截止收盘，恒生指数涨0.74% 或192.17点，报26160.15点，全日成交额为2266.14亿港元；恒生国企指数涨0.68%，报9363.94点；恒生 科技指数涨1.82%，报6059.89点。全周来看，恒指累涨3.62%，国指累涨3.91%，恒科指数累涨5.2%。 国元国际近日指出，在经历短期的波动之后，待外部环境扰动降低，港股市场会迎来更为良好的入场时 机，预期短线调整后港股或将很快修复。招商证券也表示，港股长期向上趋势不变，建议聚焦结构性主 线而非指数点位；重视四中全会"十五五"规划增量政策。 蓝筹股表现 中芯国际(00981)领涨蓝筹。截至收盘，涨8.04%，报80港元，成交额120.97亿港元，贡献恒指42.15点。 大摩近期研报指出，将中芯国际评级由"与大市同步"调高至"增持"，并将目标价由40港元大幅提升至80 港元。报告指出，中国人工智能(AI)应用的快速普及，以及对本土人工智能GPU的政策支持，将在未来 两年显著提振本土对先进制程晶圆代工的需求。 其他蓝筹股方面，中国宏桥(01378)涨4.29%，报27.72港元，贡献 ...

Economic Overview - In Q3, the actual GDP growth rate slowed to 4.8%, with a cumulative growth rate of 5.2%[3] - Nominal GDP growth rate was 3.7%, with a cumulative growth rate of 4.1%, indicating a "volume increase and price drop" pattern[3] - The GDP deflator narrowed to -1.1%, reflecting a decrease in price levels[3] Production Insights - In September, industrial added value grew by 6.5% year-on-year, exceeding market expectations and increasing by 1.3 percentage points from the previous month[4] - The service production index maintained stability with a year-on-year growth rate of 5.6%[4] - Mining and manufacturing sectors saw growth rates of 6.4% and 7.3%, respectively, while the electric heat and water industry dropped to 0.6%[4] Investment Trends - Fixed asset investment showed a negative growth of -7.1% in September, with a cumulative growth rate of -0.5%[5] - Infrastructure investment slowed significantly, with broad and narrow infrastructure cumulative growth rates at 3.3% and 1.1%, respectively[5] - Real estate investment fell sharply by -21.3% in September, with cumulative growth at -13.9%[20] Consumption Patterns - Retail sales growth slowed to 3.0% year-on-year in September, down 0.4 percentage points from the previous month[31] - Restaurant consumption growth was only 0.9%, a decline of 1.2 percentage points from the previous month[31] - Consumer electronics, particularly home appliances, saw a significant drop in growth to 3.3%, down 11.0 percentage points[31] Future Outlook - The implementation of 500 billion yuan in policy financial tools is expected to effectively stimulate infrastructure investment and alleviate current downward pressure on investment[7] - Close attention is needed on the progress of policy implementation and its transmission effects on the real economy[7]

人民财讯10月24日电，央行发布2025年三季度金融机构贷款投向统计报告，2025年三季度末，人民币房 地产贷款余额52.83万亿元，同比下降0.1%，增速比上年末高0.1个百分点，前三季度减少840亿元。 2025年三季度末，房地产开发贷款余额13.61万亿元，同比下降1.3%，前三季度增加925亿元。个人住房 贷款余额37.44万亿元，同比下降0.3%，增速比上年末高1个百分点，前三季度减少2411亿元。 ...

Group 1: Event Overview - The 2025 Global High-end Food and Quality Agricultural Products Expo will be held from October 22 to 24, 2025, at the Shenzhen Convention and Exhibition Center [1] - The expo aims to build a "big food" ecosystem, leveraging the industrial resource advantages of the Greater Bay Area, covering ten specialized exhibition areas [1] Group 2: Company Participation - XunTui Technology Co., Ltd. has become a comprehensive digital operation service provider for brands, participating in the expo to empower enterprises [3] - The company addresses the challenges faced by exhibitors in both domestic and international markets, including unstable international environments and changing domestic consumption structures [3] Group 3: Digital Marketing Solutions - XunTui Technology offers a comprehensive digital operation plan that includes various online marketing strategies such as Douyin operation promotion, WeChat video account promotion, Google SEO optimization, and overseas social media operation [3][6] - The company utilizes big data analysis to understand product characteristics and potential customer needs, providing customized execution plans for exhibitors [4] Group 4: Industry Impact - The marketing strategies implemented by XunTui Technology received recognition from exhibitors, indicating a successful expo that opened new online marketing channels for food enterprises [4] - The company has provided tailored online marketing solutions to over 10,000 enterprises across various industries, including intelligent manufacturing, new materials, and fast-moving consumer goods [6]

Core Points - The A-share market indices collectively rose on October 24, with the Shanghai Composite Index reaching a new high for the year at 3950.31 points, up 0.71% [1] - The Shenzhen Component Index increased by 2.02%, while the ChiNext Index rose by 3.57% [3] Market Performance - Shanghai Composite Index: 3950.31 points, up 27.90 points (0.71%), year-to-date increase of 17.86% [4] - Shenzhen Component Index: 13289.18 points, up 263.74 points (2.02%), year-to-date increase of 27.60% [4] - ChiNext Index: 1462.22 points, up 60.97 points (4.35%), year-to-date increase of 47.86% [4] - North China 50 Index: 1472.08 points, up 16.71 points (1.15%), year-to-date increase of 41.84% [4] - Total trading volume in the Shanghai and Shenzhen markets was approximately 19742.09 billion yuan, an increase of about 3303 billion yuan from the previous trading day [4] Sector Performance - Sectors with notable gains included memory chips, AMD, HBM, semiconductors, electronic chemicals, and electronics [5] - Sectors with significant declines included Shenzhen state-owned assets, coal, property, coal mining and selection, real estate, and oil and petrochemicals [5]

Domestic Market Overview - The domestic market experienced a rebound with reduced trading volume, with the Shanghai Composite Index closing at 3922.41 points, up 0.22%, and the Shenzhen Component Index closing at 13025.45 points, also up 0.22% [1][4][9] - Among the 30 sectors tracked, 21 sectors saw gains, with notable increases in oil, petrochemicals, coal, and comprehensive sectors, while communication, real estate, and building materials sectors faced declines [1][4][9] - The total trading volume for the A-share market was 16,607 billion yuan, showing a slight decrease compared to the previous day [1][4][9] Overseas Market Overview - The U.S. stock market indices all closed higher, with the Dow Jones up 0.31%, the S&P 500 up 0.58%, and the Nasdaq up 0.89% [2][4] - Notable performers included Honeywell International, which rose over 6%, and 3M Company, which increased by more than 2% [2][4] - Chinese concept stocks mostly rose, with Tiger Securities up nearly 6% and Hesai Technology up nearly 4% [2][4] Key News Highlights - The 20th Central Committee's Fourth Plenary Session approved the "14th Five-Year Plan" proposals, emphasizing high-quality development and significant improvements in various sectors by 2035 [3][11] - The Ministry of Commerce announced that a delegation led by Vice Premier He Lifeng will visit Malaysia for U.S.-China trade negotiations from October 24 to 27 [3][12] - The State-owned Assets Supervision and Administration Commission held a meeting to discuss the "14th Five-Year Plan" for central enterprises, focusing on enhancing core competitiveness and strategic planning [3][13][14] - The first domestically developed large dual-fuel roll-on/roll-off passenger ship was delivered, achieving 100% localization in its interior [3][15]

23日国际金价上涨近2% 1 0月23日国际金价上涨近2%，国际油价大涨超5%。 3日国际金价上 当地时间周四，投资者等待即将公布的美国重要通胀数据，以此来判断美联储接下来的货 币政策走向。美国全国房地产经纪人协会当天公布的数据显示，由于美国抵押贷款利率降 至一年多来的最低水平，缓解了购房者对还款压力的担忧，美国9月成屋销量小幅上升， 显示出美国房地产市场出现了回暖迹象。 此外，科技股和芯片股在接连下跌后迎来反弹，推动美国三大股指集体上涨。截至收盘， 道指上涨0.31%，标普500指数上涨0.58%，纳指涨幅为0.89%。 中概股普遍走高，纳 斯达克中国金龙指数上涨约1.7% 。公司方面，周四盘后芯片公司英特尔公布的最新财报 好于分析师预期，公司股价盘后涨超7%。 贵金属市场方面，地缘政治风险加剧再度推升市场避险情绪，叠加金价在此前两个交易日 累计下跌约6.7%后，市场出现了技术性买盘，推动 国际金价周四反弹 。截至收盘，纽 约商品交易所12月黄金期价收于每盎司4145.6美元， 涨幅为1.97% 。 美欧宣布对俄实施新制裁 23日国际油价大涨超5% 原油期货方面，美国日前宣布对俄罗斯最大的两家石油企业实施制 ...

Economic Environment - The "15th Five-Year" period faces complex changes in the development environment, with both strategic opportunities and risks present[1] - External challenges include increased tariffs from the US and restrictions on high-tech imports, necessitating a focus on technological self-reliance[1][2] Strategic Planning - The core strategy for the "15th Five-Year" plan is to enhance independent innovation and technological self-reliance, supported by a modern industrial system centered on advanced manufacturing[2][3] - The plan emphasizes the need to expand domestic demand, boost consumption, and reduce reliance on foreign markets[4] Economic Growth Targets - The focus will shift from high-speed growth to high-quality development, with no specific GDP growth targets set for the next five years[5] - The average GDP growth rate during the "14th Five-Year" period was 5.4%, with projections for the "15th Five-Year" period to be between 4.5% and 5.0%[5] Fiscal and Monetary Policy - The fiscal policy will prioritize funding for major national strategies, focusing on modern industrial systems and increasing technology spending[6][7] - Monetary policy will aim for stability and flexibility, with an emphasis on supporting technology-driven sectors and managing economic cycles[8] Immediate Policy Actions - There is an expectation for macroeconomic policies to intensify in the fourth quarter to stabilize growth, including new fiscal measures and potential interest rate cuts[9]

"党的二十届四中全会对深入推进以人为本的新型城镇化作出了重要部署，为我们在新时代新征程推动 住房城乡建设工作指明了前进方向、提供了根本遵循。"省住房城乡建设厅党组书记、厅长高义表示， 将深入学习贯彻全会精神，贯彻落实中央和省委城市工作会议精神，聚焦"1+2+4+N"目标任务体系，认 真践行人民城市理念，持续优化现代化城市体系，深入实施城市更新行动，推动房地产高质量发展，统 筹推进以县城为重要载体的新型城镇化，加快构建"一主两副、一圈两带、四域多点"发展格局，走好符 合发展规律、具有河南特色的城市现代化新路子，为奋力谱写中原大地推进中国式现代化新篇章提供有 力支撑。 郑州海关主要负责同志表示，将认真学习贯彻党的二十届四中全会精神，更加注重统筹发展和安全，积 极融入中部地区崛起等区域协调发展战略，聚焦"空陆数海"丝绸之路建设，研究制定践行"两高四着 力"行动方案，支持河南全方位拓展开放通道，提升自贸试验区、综合保税区等开放平台能级，建设全 国统一大市场循环枢纽，打造国内国际市场双循环支点；巩固中匈海关关际合作成果，研究论证以构 建"空中丝绸之路"海关服务平台为抓手的一揽子海关合作框架和工作机制，深入参与共建"一带 ...