接下来，满洲里海关将着力打通企业享惠堵点，以更优质的服务、更精准的举措、更高效的监管，让政策春风吹遍口岸一线，让减税降费红利直达市场主 体，为服务构建新发展格局、推进高水平对外开放贡献海关力量。 在实施惠企举措过程中，企业反映在实际操作时因不会准确区分境内段运费导致无法充分享受红利。为此，满洲里海关通过关企座谈会、发放辅导手册等 多种渠道，详细讲解境内段运费分摊计税办法、操作流程以及申报时的具体要求等，让惠企举措从"纸上学"落地为"指尖办"。同时，该关设立了"中欧班 列专岗"，高效审核企业运费扣减材料完整性、规范性，聚焦企业在办理回程运费扣减过程中的难点，及时推送班列平台公司发布的"运价公告"等内容， 为企业提供权威支持。 "满洲里海关指导精准、服务到位，不仅主动上门讲解政策，还手把手帮助我们梳理申报要点，单是一票货物，我们就成功扣减了12.47万元的境内段运 费，让资金周转更加顺畅，我们拓展业务的底气更足了。"满洲里海诚报关有限公司负责人胡晓静说。 初冬的满洲里，寒意已悄悄漫过街巷，满洲里铁路口岸却是一派繁忙景象，一列列回程中欧班列接续入境，满载着木材、粮油等货物发往全国各地。作为 共建"一带一路"的重要载 ...

Core Viewpoint - The China Coal Economic Research Association reports significant structural changes in the coal transportation system during the "14th Five-Year Plan" period, enhancing the national allocation capacity of coal resources and promoting a smart and green transformation in coal transportation [1][2]. Group 1: Market Performance - As of November 13, 2025, the CSI State-Owned Enterprises Dividend Index (000824) decreased by 0.27%, with component stocks showing mixed performance [1]. - Leading gainers included Luxi Chemical (000830), while Sichuan Road and Bridge (600039) led the declines [1]. Group 2: Coal Transportation Developments - The National Railway Group reported that coal transportation reached 1.57 billion tons in the first nine months of the year, a year-on-year increase of 11.1%, with thermal coal accounting for 1.1 billion tons, up 17% [2]. - The successful operation of the new Shuo Railway, capable of 20,000-ton heavy-load transport, marks a significant advancement in coal transportation capabilities [1][2]. Group 3: Investment Strategies - CITIC Securities suggests that in the context of a weak macroeconomic recovery, high dividend strategies remain attractive, particularly for large-cap stocks in sectors like coal and photovoltaics [2]. - The CSI State-Owned Enterprises Dividend ETF closely tracks the CSI State-Owned Enterprises Dividend Index, which includes 100 listed companies with high and stable cash dividend yields [2].

Core Insights - The company has shown stable operations with continuous growth in gross profit despite a decline in revenue for the first three quarters of 2025 [1] Group 1: Financial Performance - In the first three quarters of 2025, the company's operating revenue was 8.582 billion, a year-on-year decrease of 15.2%, while gross profit reached 923 million, an increase of 11.7% [1] - The gross profit margin improved to 10.8%, up by 2.6 percentage points year-on-year [1] - Total profit amounted to 752 million, reflecting a year-on-year growth of 29.7%, primarily driven by the increase in gross profit and a reduction in asset impairment losses [1] - The net profit attributable to the parent company was 548 million, up 38.7% year-on-year, with the non-recurring net profit at 540 million, a growth of 40.49% [1] Group 2: Business Segments - The special container business has shown a consistent growth trend, with an annualized growth rate of 13% from 2014 to 2024, and a 7% year-on-year increase in the first half of 2025 [2] - This growth aligns with the overall increase in China's railway container transport volume, which is expected to grow at an annualized rate of 23% from 2014 to 2024 [2] - Conversely, the railway freight and port logistics businesses have experienced a decline in both revenue and gross profit since 2020, attributed to a decrease in freight volume [3] - The supply chain management business has also seen a decline in revenue and gross profit since 2021, potentially linked to falling commodity prices [3] Group 3: Profit Forecast Adjustments - Due to the decline in commodity prices and reduced real estate sales, the company has revised its net profit forecasts for 2025 and 2026 to 570 million and 680 million, respectively, down from previous estimates of 590 million and 690 million [4] - The forecast for 2027's net profit is set at 730 million, with corresponding price-to-earnings ratios of 16, 13, and 12 times [4]

Core Insights - The Western Land-Sea New Corridor has achieved a cumulative container volume of 2.559 million TEUs since the launch of the iron-sea intermodal service in 2017 [1] - The corridor aims to be economically efficient, convenient, green, and safe by 2025, with a target of reaching 500,000 TEUs in container volume for iron-sea intermodal transport [1] - In September of this year, the annual dispatch volume of the iron-sea intermodal service exceeded 1 million TEUs for the first time, marking a 110-fold increase since its inception [1] Container Volume and Growth - The cumulative container volume for the iron-sea intermodal service has reached 2.559 million TEUs, achieving the 2025 target of 500,000 TEUs ahead of schedule [1] - From January to October this year, the freight volume and value from Chongqing via the Western Land-Sea New Corridor reached 272,300 TEUs and 48.962 billion yuan, respectively, representing year-on-year growth of 33% and 27% [1] Network Expansion - The transportation network has expanded to cover 581 ports in 127 countries and regions [1] - The types of goods transported now include over 1,300 products across more than 10 major categories, such as electronics, complete vehicles and parts, machinery, and food [1]

会议审议了《中国与欧亚经济联盟经贸合作规划（路线图）》实施情况，就贸易救济、技术法规领域合 作、卫生与植物卫生措施、海关合作和贸易便利化、多边贸易体制、竞争与政府采购领域合作、部门合 作等议题深入交换意见，并讨论下一步工作安排。 欧亚经济委员会及俄罗斯、白俄罗斯、哈萨克斯坦、吉尔吉斯斯坦、亚美尼亚等成员国代表，商务部、 中国国家铁路集团有限公司、中国驻俄罗斯大使馆派员参会。 11月12日，《中国与欧亚经济联盟经贸合作协定》联委会第五次会议在俄罗斯莫斯科召开。会议由商务 部副部长鄢东、欧亚经济委员会贸易委员斯列普涅夫共同主持。 鄢东表示，今年10月，中共二十届四中全会通过了关于制定"十五五"规划的建议，擘画了中国未来发展 的宏伟蓝图，将继续为世界发展提供稳定、可靠和积极的中国力量。中国与欧亚经济联盟成员国领导人 高度重视共建"一带一路"倡议同欧亚经济联盟建设对接合作，为进一步提升双方经贸关系发展指明了方 向。双方积极评价自第四次联委会会议召开以来《协定》实施方面取得的成效，充分肯定《协定》在全 球贸易面临诸多挑战的背景下，对维护双方经贸合作稳定和韧性的重要作用，表示愿共同继续扎实推进 《协定》实施，进一步挖掘经 ...

Core Viewpoint - The China-Europe Railway Express has established a new international transportation pattern between Asia and Europe, serving as a vital link for global exchange and cooperation, with a focus on high-quality development under the "14th Five-Year Plan" [1] Group 1: Operational Efficiency - The Xian International Port Station, the largest freight marshalling station in the country, handles an average of nearly 600 China-Europe Railway Express trains daily, with over 18,000 trains arriving and departing during the "14th Five-Year Plan" period [3] - The newly implemented intelligent yard system tracks vehicle movements and cargo handling 24/7, allowing for efficient operations with over 8,000 container trucks operating daily [3] - The loading of a China-Europe Railway Express train is completed in under 2 hours, with an average of one train departing or arriving every 90 minutes at the Xian International Port Station [5] Group 2: Growth and Expansion - Since the beginning of the "14th Five-Year Plan," over 23,000 China-Europe Railway Express trains have been operated from Xian, accounting for more than a quarter of the national total, transporting over 22 million tons of goods [6] - The transportation time for the cross-Caspian route has been reduced from 23 days to 12 days, with new routes such as the "Xian-Tashkent" express line improving transport efficiency by 40% [8] - The number of secondary distribution stations for the China-Europe Railway Express (Xian) has increased to five, enhancing the distribution network [10] Group 3: International Cooperation and Service Optimization - The integration of land and sea transport networks is expanding, with multiple channels being developed to increase capacity, connecting countries along the "Belt and Road" initiative [11] - The logistics model at the Kazakhstan-Xian terminal facilitates direct transport of goods to Almaty, with an automated scheduling system improving operational efficiency [13] - The China-Europe Railway Express enables rapid transport of goods, such as electric vehicles from China to Europe in 15 days and flour from Kazakhstan to consumers in just 7 days [15]

为保障旅客进出站、购票、候车、乘降等安全顺畅，车站还周密制定方案，做好进出站旅客流线优化，设立 绿色（急客）通道，加强对小朋友安全乘车的引导。 铁路部门表示，针对秋假旅客出行特点，已调整列车开行时间，加大西安、华南、长沙、昆明等方向，成宜 高铁、新成昆铁路等热门线路运力投放，增开和重联列车80余列，提供定制化产品。 2017 5,9 1597 r and 11月12日，在成都东站和家人出行的小朋友。中国铁路成都局集团有限公司成都车站供图 11月12日，四川多地迎来首个秋假。放假首日，小朋友就"占领"了成都东站。车站提供的数据显示，假期首 日车站管内客票预售30.4万张，学生票及儿童票预售6.7万张，出行明显增多。 "从昨晚开始，小朋友就明显多了起来。"中国铁路成都局集团有限公司成都车站相关负责人介绍，11月11 日，成都车站管内发送28.6万人，其中学生票及儿童票2.3万张，占比8.0%，单日同比增加2万张。从预售情况 看，截至11月12日上午9点，秋假三天假期预售76.7万张，同比增长10.8%。 + 网络站 十届四 U 8 b ps 此外，铁路部门还联合文旅部门创新推出"票价优惠+票根畅游"模式。 自贡方 ...

Core Insights - The Xi'an Railway Bureau has implemented a dual-channel model of "e-commerce trains + high-speed express" to enhance logistics efficiency during the "Double Eleven" shopping festival, ensuring fast and stable delivery of e-commerce packages [1][2] Group 1: Logistics Operations - Starting from November 1, the Xi'an Railway Bureau launched a 20-day express service for the "Double Eleven" peak period, with an average of 3,360 e-commerce packages dispatched daily from Xi'an North Station to nationwide destinations [1] - The bureau utilizes over 200 passenger trains and high-speed express containers daily to transport time-sensitive packages, including four dedicated high-speed trains operating without passengers for bulk deliveries to Yinchuan and Lanzhou [1] - The Silk Road e-commerce train has become a key logistics solution, having operated over 590 trains since its launch in March last year, transporting more than 24,000 vehicles of e-commerce goods, significantly reducing logistics costs and enabling "free shipping" across Xinjiang [1] Group 2: Service Diversification - The railway express service is expanding into diverse and personalized offerings, with high-speed urgent delivery services now available at nine major stations, covering 196 cities and achieving delivery in as fast as four hours [2] - Customized transportation methods are being developed for specialty agricultural products, high-value goods, and cold chain products, including dedicated personnel and temperature-controlled transport [2] - The Xi'an Railway Bureau is enhancing integrated services by promoting the use of the China Railway Network Freight Logistics Platform, optimizing logistics processes, and reducing inspection and departure times [2]

Core Viewpoint - The railway department is implementing significant fare discounts on over 1,300 high-speed trains across more than 130 routes, with discounts reaching as low as 40% to optimize capacity utilization and reduce travel costs for the public [1] Pricing Strategy - The fare adjustment is part of a broader initiative to enhance a flexible pricing mechanism that allows for both increases and decreases in ticket prices based on market conditions [1] - A dynamic pricing mechanism will be established for less popular routes, increasing discount rates to attract more passengers [1] Targeted Discounts - The pricing strategy will differentiate between weekdays and weekends, as well as between peak and off-peak hours, exemplified by the Zhengzhou Railway Group's "weekday-weekend" pricing model [1] - In addition to students and military personnel, discounts will also be extended to migrant workers and the elderly, utilizing technology for automatic verification of additional discounts [1]

广东城际全天开行了"飞霞-竹料""花都-东莞西""白云机场（600004）北-佛山西""肇庆-惠州北"等四 条"站站停"交路，以及"飞霞-花都""花都-肇庆""花都-惠州北""白云机场北-佛山西""肇庆-惠州北""番禺- 惠州北"特快列车、大站快车交路，实现"线路-客流-运力"的精准匹配。广深港高铁之外，澳门轻轨也已 经接入大湾区城际铁路网络。 "同城化"背后是大湾区"硬桥硬马"的交通基础设施。数据显示，大湾区轨道交通里程超3000公里，每天 的跨城通勤量超过600万人次。继港珠澳大桥、南沙大桥后，深中通道、黄茅海跨海通道建成通车。广 深港高铁之外，城际与地铁也越织越密。今年10月25日起，广惠、广肇、广清、广州东环和琶莲城际铁 路启用新版运行图，推出全线网"计次票""定期票"。 十五运会期间，预计会有6000多名内地人员赴港澳、3000多名港澳人员来内地参赛，是内地赴港澳参赛 和港澳来内地参赛人数最多的一次。大型赛事下的通关机制有望在今后得到复制推广，进一步便利三地 人员往来。（经济日报记者 刘亮） 连日参与十五运会采访，辗转于大湾区各个城市，每次都是到了高铁站再买票，随买随走。敢这么"干 净利索脆"，一是 ...