每经头条（nbdtoutiao）——5年期大面积下线，3年期利率低至1.5%仍一单难求：要么"售罄"要么"额度 紧张"！中长期大额存单为何在消失？ （记者 王晓波） 每经AI快讯，大秦铁路（SH 601006，收盘价：5.53元）12月1日晚间发布公告称，截至2025年11月30 日，公司通过上海证券交易所交易系统以集中竞价交易方式已累计回购公司股份约3624万股，占公司总 股本约201.47亿股的比例为0.1799%，回购成交的最高价为人民币5.78元/股，最低价为人民币5.51元/ 股，支付的资金总额为人民币约2.05亿元。 2025年1至6月份，大秦铁路的营业收入构成为：铁路运输占比98.66%，其他业务占比1.34%。 截至发稿，大秦铁路市值为1114亿元。 ...

格隆汇12月1日丨大秦铁路(601006.SH)公布，截至2025年11月30日，公司通过上海证券交易所交易系统 以集中竞价交易方式已累计回购公司股份3624.29万股，占公司总股本的比例为0.1799%，回购成交的最 高价为人民币5.78元/股，最低价为人民币5.51元/股，支付的资金总额为人民币2.05亿元（不含交易费 用）。 ...

Core Viewpoint - China's economy is experiencing a temporary turbulence amidst a complex global economic environment, with the composite PMI output index dropping to 49.7%, a decrease of 0.3 percentage points from the previous month, marking a new low in nearly a year. However, this decline reflects a structural adjustment and accumulation of strength rather than a comprehensive economic downturn [1]. Group 1: Manufacturing Sector - The manufacturing sector shows resilience with a PMI of 49.2%, a slight increase of 0.2 percentage points from the previous month, indicating a glimmer of hope amidst overall economic pressure [2]. - Small and medium-sized enterprises (SMEs) demonstrate strong vitality, with the PMI for medium-sized enterprises rising by 0.2 percentage points and small enterprises surging by 2.0 percentage points, highlighting the robust resilience of the grassroots economy [2]. - The production index has returned to the critical point of 50.0%, up by 0.3 percentage points, indicating overall stability in manufacturing production [3]. - The new orders index has improved to 49.2%, an increase of 0.4 percentage points, suggesting a gradual recovery in market demand and an increase in enterprise orders [3]. - The employment index has slightly risen, indicating an improvement in the employment situation within manufacturing, providing a human resource guarantee for stable production [3]. Group 2: Non-Manufacturing Sector - The non-manufacturing business activity index stands at 49.5%, down by 0.6 percentage points, becoming a major drag on the composite index, yet it reflects significant industry differentiation rather than a complete downturn [4]. - The service sector experiences short-term volatility, with real estate and residential services remaining at low levels, while sectors like railway transportation, finance, and telecommunications maintain high prosperity levels, illustrating a mixed performance [4]. - The construction sector shows signs of stabilization and recovery, with an increase in the new orders index indicating a growing demand for construction projects [4]. - Changes in input prices and sales prices in the construction sector reflect proactive responses to cost control and price adjustments, enhancing profitability and market competitiveness [4]. Group 3: Economic Outlook - Despite the temporary decline in the composite index, the fundamentals of China's economy remain solid, with stable manufacturing production, revitalized SMEs, and a high expectation level of 56.2% among non-manufacturing enterprises for the future [5]. - The current data drop is viewed as a short-term adjustment rather than a trend of decline, suggesting that the economy is seeking balance in a more nuanced and stable manner [5]. - The ongoing transformation and upgrading of the economy may be filled with challenges, but each step is directed towards a healthier and more sustainable direction [5].

Core Viewpoint - Wuhan is positioned as a key strategic hub in China's development, with a focus on high-quality growth and innovation, particularly in the context of the "14th Five-Year Plan" and the upcoming "15th Five-Year Plan" [2][4][10]. Group 1: Strategic Importance - Wuhan is entrusted with significant responsibilities in the national development framework, emphasizing its role in implementing major national strategies [4][6]. - The city aims to integrate its development with national needs, showcasing its capabilities in technology and innovation [7][10]. Group 2: Technological Innovation - Wuhan's Nine Peaks Mountain Laboratory is a key facility focusing on compound semiconductor research, operating 24/7 to meet national demands [4][5]. - The number of high-tech enterprises in Wuhan is projected to exceed 15,000 by 2024, with technology contract transaction volume surpassing 300 billion yuan [5][6]. Group 3: Regional Development - The Wuhan metropolitan area is expected to achieve an economic total of 3.6 trillion yuan in 2024, accounting for 29% of the Yangtze River Middle Reaches urban cluster [6][8]. - Collaborative development with surrounding cities is emphasized, with a focus on enhancing regional industrial layouts [5][6]. Group 4: Urban Governance and Quality of Life - Wuhan is exploring modern governance models, utilizing digital infrastructure to improve community services and emergency response systems [6][8]. - The city is implementing urban renewal projects that balance historical preservation with modern functionality, enhancing overall urban quality [11][12]. Group 5: Logistics and Connectivity - Wuhan has become a crucial logistics hub, with the establishment of the "China-Europe Railway Express" and improved transportation links reducing logistics costs by approximately 15% [9][10]. - The city is enhancing its role in domestic and international logistics, aiming to strengthen its position in the new development landscape [9][10].

长江商报奔腾新闻记者 李璟 稳增长政策不断落地见效，制造业产需两端均有改善。 国家统计局11月30日发布数据显示，11月份，制造业采购经理指数（PMI）为49.2%，比上月上升 0.2个百分点，制造业稳中有升；非制造业商务活动指数为49.5%，比上月下降0.6个百分点，非制造业 经营活动有所放缓；综合PMI产出指数为49.7%，比上月下降0.3个百分点，我国经济景气水平总体平 稳。 中国物流与采购联合会分析认为，11月份制造业PMI指数小幅回升，表明市场信心有所改善。12月 制造业市场需求仍有趋稳回升空间，并带动企业生产活动稳中有增，年末节庆和冬季消费相关需求集中 释放会带动消费相关服务业有所回升，投资有望继续发挥托底经济的作用。此外，"十五五"发展目标鼓 舞人心，对市场信心产生积极影响。要围绕"十五五"良好开局进一步加强宏观经济政策逆周期调节力 度，显著加大政府公共产品、公共服务投资规模，进一步有效有力带动企业订单增加。 其中，生产指数和新订单指数分别为50.0%和49.2%，比上月分别上升0.3个和0.4个百分点，其中生 产指数升至临界点，产需两端均有改善。 11月份，非制造业商务活动指数为49.5%。其 ...

Core Viewpoint - The opening of the Panxing High-speed Railway marks a significant advancement for Guizhou, making it the 12th province in China to achieve "city-to-city high-speed rail" connectivity, enhancing regional tourism and economic development [2][4][5]. Summary by Sections High-speed Railway Development - The Panxing High-speed Railway, which opened on November 28, spans 99 kilometers with a design speed of 250 km/h, connecting Liupanshui and Xingyi, significantly reducing travel time between these cities to just 2 hours [2]. - With the addition of the Panxing line, Guizhou's total high-speed rail mileage reaches 1,906 kilometers, positioning it among the top provinces in Western China [9]. Tourism Impact - The new railway line connects rich tourism resources in both Liupanshui and Xingyi, promoting diverse tourism opportunities and enhancing visitor retention and spending [3][11]. - The local tourism bureau has introduced incentives, such as free entry to certain scenic spots for travelers arriving by high-speed train, to attract more visitors [3]. Economic and Regional Development - Guizhou's geographical position as a southwestern transportation hub, combined with national policies supporting infrastructure development, has facilitated its rapid high-speed rail expansion [6][8]. - The high-speed rail network is expected to transform Guizhou from a transportation periphery into a regional hub, attracting investment and fostering industrial growth [12]. Operational Considerations - The economic viability of high-speed rail in Guizhou is under scrutiny, with discussions on how to optimize operations to cover construction and maintenance costs while maximizing benefits [8][12]. - Experts suggest that Guizhou should align high-speed rail development with local economic growth, ensuring a sustainable cycle of construction, operation, and profitability [13].

Group 1 - The Purchasing Managers' Index (PMI) for China's manufacturing sector in November is reported at 49.2%, an increase of 0.2 percentage points from the previous month, indicating a stabilization in manufacturing exports and an overall recovery in demand [3] - The production index for November stands at 50%, reflecting a rise of 0.3 percentage points from the previous month, with the equipment manufacturing, high-tech manufacturing, and consumer goods manufacturing sectors all remaining in the expansion zone [6] Group 2 - The Western Land-Sea New Channel has shipped over 5 million TEUs (Twenty-foot Equivalent Units) since its inception in 2017, with a significant year-on-year increase of 55.3% in shipments since 2025 [9] - The Ningbo-Zhoushan Port has achieved a container sea-rail intermodal business volume of 1.85 million TEUs in 2025, surpassing the total volume for the entire year of 2024, with a year-on-year growth of 9% [13] Group 3 - The entry and exit personnel at the Erenhot port in Inner Mongolia have reached a historical high of 2.596 million since 2025, marking a year-on-year increase of 9.2% [15] - The construction of the Qixingping Tunnel, the second longest tunnel of the Xiangyu High-speed Railway, has progressed to 80%, with a total excavation length exceeding 11,000 meters [17][18]

Core Insights - The national railway transported 82.117 million tons of goods from November 24 to November 30, reflecting a week-on-week increase of 0.74% [1] - The total number of freight trucks on national highways was 56.442 million, showing a week-on-week decrease of 0.24% [1] - Port cargo throughput reached 286.271 million tons, marking a week-on-week increase of 8.43%, while container throughput was 6.77 million TEUs, down by 0.27% [1] - Civil aviation supported 121,000 flights, including 5,607 cargo flights, with a slight week-on-week decrease of 0.07% [1] - The volume of postal and express delivery collected was approximately 4.006 billion items, down by 2.91%, and the delivery volume was about 4.028 billion items, decreasing by 1.54% [1] Summary by Category Railway Transport - National railway transported 82.117 million tons of goods, with a week-on-week growth of 0.74% [1] Highway Transport - Freight truck traffic on national highways totaled 56.442 million, reflecting a decrease of 0.24% week-on-week [1] Port Operations - Port cargo throughput was 286.271 million tons, up 8.43% week-on-week; container throughput was 6.77 million TEUs, down 0.27% [1] Civil Aviation - Civil aviation operations included 121,000 flights, with 5,607 being cargo flights, showing a slight decrease of 0.07% week-on-week [1] Postal and Express Delivery - Postal and express collection volume was approximately 4.006 billion items, down 2.91%, while delivery volume was about 4.028 billion items, decreasing by 1.54% [1]

查看卫星地图，东湖之滨，一处巨大的院落形似"航空母舰"，它是武汉动车段。这艘昼夜不息的"陆地航母"里，藏着动车组 列车平稳舒适、安全高效运行的秘密。 动车组停靠的"家" 武汉动车段已建成投用16年。 它配属的动车组运行范围覆盖19省、4个直辖市和1个自治区，衔接南北、贯通东西。 每天清晨，一列列动车组列车从这里整装待发，奔向五湖四海；晚上，列车又陆续回到这里，停车整修。 中国高铁网从"四纵四横"扩展到"八纵八横"，武汉一直是路网核心节点。 作为全国最大的铁路枢纽城市之一，如今的武汉汇集了京广高铁、京沪高铁、郑渝高铁、武九客专、汉宜客专、武西高铁等 多条重要铁路干线。 武汉动车段坐落在东湖之滨。 武汉与火车的故事，要追寻到更久远的年代。 1889年，湖广总督张之洞，提出了从卢沟桥到汉口的铁路修建计划。 9年后，卢汉铁路动工。 1906年，全线竣工通车，并改称京汉铁路。彼时，京汉铁路设计时速只有30公里，但从汉口到北京的时间，由原来的近1个 月缩短至3天。 1936年，从广州到武昌的粤汉铁路建成。南北两条交通大动脉遭天险隔断，经过拆解的火车只能坐轮渡过长江。 21年后，一桥飞架南北，天堑变通途。京汉、粤汉两条铁路 ...

中新网重庆11月30日电 (张旭)11月30日，一列满载汽摩配件、日用百货等产品的中欧班列(重庆)从重庆 团结村中心站鸣笛启程，驶向匈牙利首都布达佩斯。这标志着重庆——匈牙利布达佩斯全程时刻表中欧 班列正式开行。 该线路是中国国家铁路集团有限公司发布的第四批中欧班列全程时刻表线路之一，也是重庆市获批的第 二条全程时刻表中欧班列线路。 全程时刻表班列拥有固定的车次、运行径路、班期和运行时间，重点对口岸站换装、交接等作业环节予 以合理控制，全程运输时间较普通班列大幅压缩。 开行初期，中国铁路成都局集团有限公司计划每两周开行一列该班列，预计全程运输时间较普通班列压 缩约30%。 该班列全程预计运行11天左右，将经新疆阿拉山口口岸出境，穿越哈萨克斯坦、波兰、捷克、斯洛伐克 等国家后，抵达匈牙利。该班列不仅能服务中匈双边贸易，更能辐射到斯洛伐克、奥地利、塞尔维亚等 国家，将促进更多优质欧洲商品更加快速地进入中国市场。 重庆市人民政府口岸和物流办公室相关负责人表示，未来，将继续指导运营平台进一步优化中欧班列 (重庆)组织模式，持续推动线路多样化、服务定制化、运营智能化。(完) 重庆开行至布达佩斯全程时刻表中欧班列 来源： ...