Core Viewpoint - Shanghai aims to achieve a GDP growth rate of around 5% for 2025, with a focus on enhancing its status as an international economic, financial, trade, shipping, and technological innovation center [3][5][12]. Group 1: Economic Goals and Projections - The main expected economic targets for Shanghai in 2025 include a GDP growth of approximately 5%, a 2% increase in local public budget revenue, and R&D expenditure reaching 4.6% of GDP [3][12]. - The "15th Five-Year Plan" outlines an average annual GDP growth target of around 5%, with potential growth levels estimated between 4.6% and 5.2% [3][12]. Group 2: Development of the "Five Centers" - The report emphasizes the continuous enhancement of the "Five Centers," which include international economic, financial, trade, shipping, and technological innovation centers [5][7]. - Specific initiatives include supporting industries such as smart connected vehicles, marine economy, low-altitude economy, aerospace, and satellite internet [5][11]. Group 3: New Quality Productivity - The focus is on integrating technological and industrial innovation to foster new quality productivity, including accelerating the application of major technological achievements and promoting intelligent, green, and integrated industrial development [9][10]. - Shanghai's R&D expenditure as a percentage of GDP reached approximately 4.5% in 2025, with significant growth in key industries like integrated circuits, biomedicine, and artificial intelligence [9][10]. Group 4: Modern Industrial System - The "2+3+6+6" modern industrial system aims to establish a world-class high-end industrial cluster, with a focus on traditional industry transformation and the development of three leading industries: integrated circuits, biomedicine, and artificial intelligence [10][13]. - By 2030, the plan targets that the total output value of strategic emerging industries will account for over 50% of the total industrial output value [12][13]. Group 5: Future Industry Layout - The report highlights the importance of forward-looking layouts in future industries, including quantum technology, brain-computer interfaces, and bio-manufacturing, to enhance Shanghai's competitive edge [14][12]. - The establishment of a reasonable investment mechanism for manufacturing and the promotion of collaboration between industry, academia, and research in emerging fields are emphasized [14][13].

| | | | | | | 研究中心能化团队 | | | 2026/2/4 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | 合约 | | 昨日收盘价 | 涨跌 | 基差 | 昨日成交量 | | 昨日持仓量 | 持仓变动 | | | EC2602 | | 1737.8 | 1.03% | 54.3 | 612 | | 1883 | -456 | | | EC2604 | | 1237.9 | 4.50% | 554.2 | 29296 | | 34229 | 423 | | | EC2606 | | 1533.7 | 1.36% | 258.4 | 3147 | | 13458 | 860 | | | EC2608 | | 1597.9 | -0.62% | 194.2 | 353 | | 1479 | 29 | | | EC2610 | | 1128.6 | -0.12% | 663.5 | 1355 | | 7677 | -207 | | | 月差 | | 前一日 | 前两日 | 前三日 | 日环比 | | 周环比 | ...

Group 1 - The signing of the investment agreement for the Nanning Qinshi New Energy Shipbuilding Intelligent Manufacturing Base project marks a significant collaboration between Qinshi Group and Nanning, focusing on shipbuilding, smart ports, and shipping development [1][2] - Nanning is leveraging its strategic location, resources, policies, and rich application scenarios to enhance the "ship-port-navigation-trade" full industrial chain, which strengthens the confidence of entrepreneurs in investing in Nanning and the ASEAN market [2] - The local government aims to promote the integration of port, industry, city, and maritime trade, and is committed to developing key industries such as new energy, new materials, and advanced equipment manufacturing [1] Group 2 - Qinshi Group is recognized for its strengths in ship design and manufacturing, ship trading, and port operations, aligning well with Nanning's economic development goals [1] - The collaboration is expected to accelerate the construction of cooperative projects in shipbuilding, AI in shipping, port operations, and modern logistics, contributing to Nanning's high-quality development [2] - Key stakeholders from various companies and local government officials participated in the meeting, indicating a strong interest in fostering partnerships and investments in the region [2]

投资咨询业务资格：证监许可【2012】31号 航运衍生品数据日报 国贸期货研究院 能源化工研究中心 卢钊毅 数据来源：Clarksons、Wind 投资咨询号: Z0021177 从业资格号: F03101843 2026/2/4 | | 运价指数 | 上海出口集装箱运价 综合指数SCFI | 中国出口集装箱运价 指数CCFI | SCFI-美西 | SCFIS-美西 | SCFI-美东 | SCFI-西北欧 | | --- | --- | --- | --- | --- | --- | --- | --- | | 集 | 现值 | 1317 | 1176 | 1867 | 1101 | 2605 | 1418 | | | 前值 | 1458 | 1209 | 2084 | 1294 | 2896 | 1595 | | 运 | 涨跌幅 | -9.68% | -2.74% | -10.41% | -14.91% | -10.05% | -11.10% | | P TE | | SCFIS-西北欧 | SCFI-地中海 | | | | | | 米 | 现值 | 1792 | 2424 | | | | | | | ...

本报讯(记者袁传玺)天眼查App显示，近日，中远海能（600026）发生工商变更，注册资本由约47.7亿 元增至约54.7亿元。 ...

对于成绩单和目标，上海市人大代表们怎么看？又有何建议？ 不确定性与技术变革下，机遇与挑战并存 在今年的上海两会上，上海市市长龚正作政府工作报告时表示，2025年，上海市生产总值达到5.67万亿 元、增长5.4%，好于预期。综合各方面因素，建议2026年全市生产总值预期目标增长5%左右。 然而，面对巨大的变化及严峻复杂的经济形势，各行各业的市场主体在实际经营中仍然不乏挑战，对于 现实的体感也不尽相同。 在吴坚看来，面对复杂的内外部环境，上海的外贸和外资不可避免地遭受到了冲击。内部转型方面，上 海作为超大城市，也正面临着产业结构深度调整的压力，如何在传统动能减弱的情况下，快速培育新动 能，是全年工作的核心突破口，也是值得持续关注的重点。 以朱柯丁所在的行业为例，他提出，一方面，需求增长很快，但系统建设的复杂度明显提高。算力相关 用电不是"多拉几条线"就能解决的，而是对电网结构、备用能力、调峰能力提出系统性要求。另一方 面，技术和工程标准提升，但项目回报周期偏长。大多数项目，前期投入大、专业门槛高，但回报更多 体现在长期运行效率和综合效益上，企业在资金和风险承受上压力不小。另外，在新业态的快速发展 中，规则体系却仍 ...

2月4日， 涨超7%，今年以来累计涨超58%，截至发稿，涨7.54%，报15.22港元，成交额2.24亿港元。 消息面上，据市场媒体报道，马士基周二表示，航运集团赫伯罗特与马士基将调整双方一项共享航线服务的航行路线，重新经由红海及苏伊士运河运输。据 了解，自2023年末开始，红海海域发生多起袭击事件，此后航运公司纷纷将船只改道非洲绕行。如今，各大航运企业正考虑重返这条连接亚欧的关键贸易通 道。与此同时，马士基在声明中指出，此次航线的红海及苏伊士运河通行将由海军力量提供安保支持。 中信证券表示，2026年合规市场需求结构性增长&低油价背景下，原油补库需求或为主要边际变量，该行预计年化VLCC运价中枢将落在60000美元/ 天-75000美元/天。周期上行兑现期下，VLCC运价弹性释放有望带动明年船队利润快速增长。短期看，季节性运输淡季临近，建议择机布局。 国泰海通认为，油运景气已持续上升四年，预计中远海能2025年盈利再创新高，且2026年首季业绩将同比大增。该行预计，未来数年油运景气有望继续胜于 预期，外贸油运盈利具充分弹性。 编辑/KOKO ...

金融期货早评 宏观："十五五"首个中央一号文件公布 【市场资讯】1）美国总统特朗普签署政府拨款法案，结束政府部分"停摆"。2）美联储理 事米兰表示，美联储今年需要降息不止 100 个基点，很期待凯文·沃什担任美联储主席后的 表现。不过，里士满联储主席巴金强调，在通胀尚未完全回落至目标之前，货币政策仍需 保持谨慎，以确保劳动力市场的稳定。3）澳洲联储宣布加息 25 个基点至 3.85%，为 2023 年以来的首次加息，成为 2026 年首个加息的主要发达经济体央行。4）一位白宫官员表示， 美联储理事米兰已辞去白宫经济顾问委员会主席一职。5）中央一号文件《中共中央国务院 关于锚定农业农村现代化扎实推进乡村全面振兴的意见》发布。 【核心研判与传导逻辑】2 月市场迎来关键变量，美联储主席提名人选的鹰派立场引发降 息延后预期，叠加英国经济韧性显现，英央行 5 月前降息概率显著下降，但该流动性调整 仅为短期预期修正，欧美货币宽松的宏观背景未变。从产业与政策维度看：战略矿产与新 能源产业链，受美国关键矿产储备政策、中国供给侧管控双重支撑，铜、稀土及碳酸锂、 多晶硅等新能源标的供需缺口长期存在；人工智能产业在政策与技术驱动下 ...

南方财经2月4日电，截至发稿，中远海能涨8.24%、中国船舶租赁(03877.HK)涨3.21%、中远海发 (02866.HK)涨1.83%。财通证券发布研报称，在当前外贸原油运输行业高景气背景下，油运公司迎来一 轮业绩释放机遇。且中期来看，伴随上游扩产&地缘事件&制裁收紧利好供需，运价中枢有望保持上 涨，从而给予油运企业更大的业绩弹性空间。 ...

Core Viewpoint - The Hong Kong Stock Connect Central State-Owned Enterprises Dividend ETF (159266) experienced a net redemption of 4.0133 million yuan on February 3, ranking 38th out of 212 in cross-border ETF net outflows [1] Group 1: Fund Performance - As of February 3, the latest size of the Hong Kong Stock Connect Central State-Owned Enterprises Dividend ETF (159266) is 562 million yuan, down from 564 million yuan the previous day, with a net outflow of 0.71% of the previous day's size [1] - Year-to-date, the fund's shares have decreased by 9.58% and its size has decreased by 8.03% compared to December 31, 2025, when the shares were 616 million and the size was 611 million yuan [2] Group 2: Liquidity and Trading Activity - Over the last 20 trading days, the cumulative trading amount for the ETF is 254 million yuan, with an average daily trading amount of 12.6913 million yuan [2] - In the 22 trading days this year, the cumulative trading amount is 266 million yuan, with an average daily trading amount of 12.0983 million yuan [2] Group 3: Fund Management and Holdings - The current fund managers are Liu Tingyu and Cai Leping, with Liu managing the fund since July 23, 2025, achieving a return of 0.96%, while Cai has managed it since November 5, 2025, with a return of -1.82% [2] - Major holdings in the fund include China COSCO Shipping, China Shenhua Energy, CNOOC, Sinopec Engineering, China National Offshore Oil Corporation, and others, with respective holding percentages and market values detailed [2]