2025年5月17日上午，2025清华五道口全球金融论坛在广东省深圳市盛大开幕。 波兰前总理马雷克·贝尔卡出席开幕式并发表主旨演讲。他指出，从全球视角看，世 界面临新局势、新变化，全球面临的最大挑战是不平衡、不稳定，尤其是美国社会 和经济结构出现了很大的不平衡。究其原因，美国慢性贸易赤字来自国内经济的不 平衡，特别是美国民众的低储蓄率以及消费型经济所致，因此美国推出的关税并不 会带来太多帮助。 他表示，从欧洲视角看，欧洲在不稳定的世界里显得更加脆弱。应对这些挑战，一 方面，欧洲需要直面美国新政府带来的挑战，利用好关税同盟的内部优势；另一方 面，欧洲应允许市场进行多样化调整。 在他看来，中国已成为全球科技的重要制造 者和出口者，新形势下，欧洲公司希望可以更多地进入中国市场。 图为马雷克·贝尔卡 以下为马雷克·贝尔卡在论坛上的发言： 女士们、先生们上午好，非常感谢各位能够来到这个卓越的论坛，非常荣幸能够有机会来到中国与国内 外重量级嘉宾共聚一堂，探讨全球范围内非常重量级的大事。 就接下来要讨论的内容，我会从欧洲视角下提供一些观点。当然，每次谈到国际大事的时候必须从美国 谈起，同时不得不提到美国的新政府，因为这给全 ...

特朗普又出关税大消息，当地时间5月16日，特朗普表示，未来两到三周内，美国可能会单方面对许多贸易伙伴设定新的关税税率。 昨晚美股高开高走，标普连涨第五天，道指收复年内所有跌幅。截至收盘，道指涨0.78%，标普500指数涨0.7%，纳指涨0.52%。 不过盘后，国际信用评级机构穆迪宣布，由于美国政府债务和利率支付比例增加，该机构决定将美国主权信用评级从Aaa下调至Aa1。 01 特朗普又出关税大消息 据英国《金融时报》报道，当地时间5月16日，美国总统特朗普表示，未来两到三周内，美国可能会单方面对许多贸易伙伴设定新的关税税率。特 朗普称，美国缺乏与所有贸易伙伴通过谈判达成协议的能力。 特朗普当天在阿联酋与企业高管会面时表示，财政部长贝森特和商务部长卢特尼克将发出信函，告诉一些贸易伙伴，他们在美国做生意需要支付多 少钱。 特朗普进一步表示，"虽然有'150个国家'希望达成协议，但不可能与所有国家会面。我认为我们会给出公平的税率，想要与那么多国家见面并谈判 是不可能的。" 回顾此前，特朗普于4月2日宣布对数十个贸易伙伴加征所谓的"对等关税"，一度引发全球金融市场剧烈动荡，随后特朗普改口，宣布暂缓90天执 行，但几乎 ...

Group 1 - The article discusses how China is catching up to Silicon Valley, with predictions that by 2030, global usage of Chinese AI applications and electric vehicles will be prevalent [1] - American tech giants have acknowledged that China has taken the lead in various technology sectors, with notable advancements in AI and electric vehicle charging technology [1] - Prominent figures in the tech industry, including former Google CEO Eric Schmidt and Nvidia CEO Jensen Huang, have stated that China is on par with or even ahead of the U.S. in technology [1] Group 2 - A report by former Italian Prime Minister Mario Draghi concludes that U.S. production efficiency is primarily due to its technology, which was established over 20 years ago [2] - The perception of China has shifted from being merely a production hub to a significant player in the technology future, with some investors now buying into Chinese tech [2]

Group 1: Current Status and Challenges of Southeast Asia's Green Economy - Southeast Asia has made progress in green economic transformation, but there is still a gap to meet the 2030 climate goals, with emissions increasing and reliance on fossil fuels [2] - Renewable energy currently accounts for 9% of the energy mix, and the penetration rate of electric vehicles is low, indicating a lag in green investment and industrial development [2] Group 2: System-Level Solutions - The sustainable bioeconomy is crucial for Southeast Asia, with potential to reduce approximately 230 million tons of CO₂ equivalent emissions and create around 340,000 jobs by 2030 through enhancing smallholder productivity and developing sustainable biofuel production [3] - Upgrading the existing power grid to accommodate renewable energy is necessary, with an expected reduction of about 5,000 tons of CO₂ equivalent emissions and the creation of around 200,000 jobs by 2030 [3] - Implementing a dual strategy to stimulate demand and strengthen local production of electric vehicles could lead to a reduction of approximately 4,000 tons of CO₂ equivalent emissions and the creation of around 350,000 jobs by 2030 [3] Group 3: Supportive Solutions - Climate financing in Southeast Asia is growing but still faces a funding gap, necessitating innovative financing models and the development of blended finance to attract private capital [4] - The carbon market is essential for decarbonization, and while there has been progress, the market remains immature, requiring clearer rules and enhanced project approval processes [4] - Artificial intelligence can help reduce emissions by optimizing various industries and promoting sustainable data center solutions [4] Group 4: Regional Cooperation and Investment Opportunities - Strengthening regional cooperation in Southeast Asia and the Asia-Pacific region can facilitate resource sharing, technology transfer, and market expansion, particularly in the bioeconomy, power grid construction, and electric vehicle sectors [5] Group 5: Action Recommendations and Outlook - Collective action is needed, with businesses incorporating sustainability into their models, financial institutions providing funding support, and governments guiding investments through policy [6] - By implementing these measures, Southeast Asia's green economy is expected to achieve significant progress by 2030, contributing to global climate change efforts [6]

新能源的推广使用体现了人类对于未来负责的态度和决心。面对全球性的能源危机和气候变化挑战，没有 一个国家能够独善其身。新能源的广泛应用，意味着我们正在共同努力，为子孙后代留下一个更加宜居、 繁荣的地球。 互联网，作为信息时代的基石，已经深刻地改变了我们的工作、学习和娱乐方式。它打破了地域限制，让 信息的传递变得无远弗届。互联网技术的飞速发展，不仅催生了众多新兴产业，更为传统行业的转型升级 提供了无限可能。 随着技术的不断进步和成本的逐渐降低，新能源产业已成为全球经济增长的新引擎。从光伏产业的蓬勃发 展到电动汽车的普及，新能源领域孕育了无数创新企业和就业机会，推动了产业链的延伸和完善。同时， 新能源的应用也促进了能源结构的优化升级，提高了能源利用效率，为经济的可持续发展注入了新的活 力。 互联网为新能源的发展提供了强大的技术支持和市场平台。通过大数据、云计算等先进技术，我们可以更 加精准地预测能源需求、优化能源配置，从而提高新能源的利用率和经济效益。同时，互联网平台也为新 新能源的开发与利用已成为人类社会可持续发展的关键所在。新能源，作为一场能源革命的核心力量，正 以前所未有的速度和影响力，引领着我们走向一个更加 ...

Group 1 - The easing of tariffs between China and the US is driving a new wave of enthusiasm for overseas expansion, with container shipping bookings from China to the US surging nearly 300% [1] - Maersk's CEO noted a shift of 20% of their capacity from China-US routes to other routes, indicating a potential "catch-up effect" in trade [1] - The global economic landscape is experiencing significant disruptions, with the US GDP contracting by 0.3% in Q1 2023, marking its worst performance since 2022 [4] Group 2 - The EU's GDP growth is lagging behind the US, with a projected annual growth of only 0.7% for 2024, primarily due to Germany's economic weakness [4] - Japan's GDP decreased by 0.2% in Q1 2025, contrasting sharply with a previous growth of 2.4% [5] - ASEAN countries are showing varied economic performances, with Vietnam's GDP growth at 6.93% in Q1 2025, the highest since 2020 [5] Group 3 - Chinese companies face a low success rate of less than 20% in overseas expansion, with "country selection" being the most critical factor [6] - The current international landscape is complex, requiring Chinese companies to adapt their strategies based on market changes [6][7] - The rise of emerging economies like India and Brazil is reshaping global economic dynamics, providing new opportunities for Chinese firms [7] Group 4 - ASEAN is becoming a preferred destination for Chinese companies due to its large market potential, strong economic growth, and supportive policies [9] - The region's population is projected to exceed 700 million by 2027, with a youthful demographic driving consumption [9] - The RCEP agreement has further facilitated economic integration and trade liberalization in the region [9] Group 5 - The success of J&T Express in Southeast Asia illustrates the importance of localizing operations and understanding market needs [11][15] - Transsion Holdings has become a leading smartphone brand in Africa by addressing local consumer preferences and needs [16][19] - Small countries present unique opportunities for Chinese companies due to less competition and favorable policies [20][21] Group 6 - Huawei's experience in Mauritius highlights the challenges and strategies for entering small markets, emphasizing the need for persistence and adaptability [23][24][26] - Companies should prioritize key markets for expansion rather than adopting a broad approach, as this can lead to more stable growth [33] - The choice between entering mature markets or emerging ones depends on the company's strengths and market conditions [34][35]

ESG Policies - The first national standard for zero-carbon industrial parks is expected to be reviewed and approved this year, with guidelines covering park classification, general principles, system construction, and classification construction [1] ESG Releases - The International Energy Agency's report predicts that global electric vehicle sales will exceed 20 million by 2025, with China leading the market, accounting for nearly 50% of domestic new car sales in 2024 [2] ESG Actions - Hunan Province has released a biodiversity protection strategy and action plan for 2025-2030, outlining priorities and actions across various sectors to enhance biodiversity protection [3] - Haikou City has introduced a blue carbon economy development action plan for 2025-2035, aiming to establish a blue carbon economy system by 2035 and enhance the ecological level of marine industries [4] Innovative Financial Solutions - A new initiative in Wuhan allows individuals to use their carbon reduction credits to offset mortgage interest, promoting low-carbon living and encouraging public participation in energy conservation [5][6]

Core Insights - The article highlights China's significant advancements in technology, suggesting that it is redefining the tech future previously dominated by Silicon Valley [1][3] - It emphasizes that the U.S. is facing a genuine competitor in China, which possesses the necessary manufacturing scale, consumer market, and research capabilities [3][4] Group 1: China's Technological Progress - China has transitioned from being viewed as a mere manufacturing hub to a leader in various technology sectors, particularly in AI and electric vehicles [1][3] - Prominent figures in the tech industry, including former Google CEO Eric Schmidt and NVIDIA CEO Jensen Huang, acknowledge that China is on par with or even ahead of the U.S. in several technological fields [3][4] - By 2030, it is anticipated that global technology will increasingly rely on Chinese-made devices and AI applications [3] Group 2: U.S. Response and Strategic Missteps - Silicon Valley's perception of China has shifted, with some companies actively investing in Chinese tech firms, indicating a recognition of China's potential [4][5] - The article critiques the U.S. government's approach, particularly under Trump, for failing to leverage its alliances and cutting research funding, which could hinder its competitive edge [6] - The warning is issued that if current policies continue, Silicon Valley may face long-term risks of obsolescence compared to the expansive "Chinasphere" [6][7]

图片来源： GTC YouTube Z Highlights RJ Scaringe 是 Rivian 的创始人兼 CEO ，该公司专注于打造智能电动平台与软件定义汽车。 Rishi Dhall 是 NVIDIA 汽车业务副总裁，长期推动 AI 在智能 驾驶与制造领域的落地应用。 创业初心与软件定义汽车的逻辑 Rishi Dhall ： 欢迎大家来到 GTC ，也欢迎大家了解人工智能在电动汽车领域中正在扮演的新角色。我是 NVIDIA 汽车业务负责人 Rishi Dhall ，今天由 我来主持。我们感到非常自豪，能够请到 RJ Scaringe Rivian 的创始人兼 CEO ，一起探讨这一话题。 RJ ，非常欢迎你的到来。 RJ Scaringe ： 谢谢你， Rishi 。我很高兴来到这里，也很期待这场对谈。 RJ Scaringe ： 哦，天哪，这个清单可太长了。要创建一家汽车公司，作为企业本身就非常复杂，而作为产品则更加复杂。在最初那一天，你什么都没 有，却需要几乎所有东西。你需要数十亿美元的资本。需要数百家供应商交付成千上万个零件。还需要一个由数千名工程师组成的团队，一个有用户共鸣 的品牌，以及能 ...

根据当地时间5月15日提交给美国证券交易委员会（SEC）的监管文件，"股神"巴菲特旗下伯克希尔哈撒韦一季度减持花旗银行、美国银行和第一资本金融 公司的部分持股，主要持仓股依旧是苹果、美国运通、可口可乐、美银、雪佛龙。 减持银行股、啤酒制造商持仓翻倍 根据13F文件，伯克希尔出售了1,463.95万股花旗集团股票；文件还显示，该公司出售了4,866.01万股美国银行股票，减持比例超过7%；截至3月31日，伯克 希尔仍持有超过6.315亿股美国银行股票。伯克希尔还减持了30万股第一资本金融公司股票，减持比例约为4%。 伯克希尔本季度最大的买入是啤酒制造商星座品牌公司，购入了638.47万股，持仓增加超过113%，总持股数达到1,200.90万股。此外，该公司加倍持有了泳 池设备供应商Pool Corp。 每经编辑｜杜宇 另外，伯克希尔在第一季度清仓了其持有的Nu Holdings股份，后者运营着巴西数字银行Nubank，清仓规模为4000万股。伯克希尔将其在Liberty Formula One 的投资削减了约一半，降至350万股。 苹果仍是第一大持仓 目前，苹果公司仍是伯克希尔最大的单一持仓，持有3亿股，占其整 ...