天眼查App显示，近日，云南百草园农副产品有限公司成立，法定代表人为肖华楠，注册资本100万人 民币，经营范围为许可项目：食品销售；食品生产；保健食品生产；食品互联网销售。（依法须经批准 的项目，经相关部门批准后方可开展经营活动，具体经营项目以相关部门批准文件或许可证件为准）一 般项目：食品互联网销售（仅销售预包装食品）；保健食品（预包装）销售；食品销售（仅销售预包装 食品）；农产品的生产、销售、加工、运输、贮藏及其他相关服务；中草药收购；化妆品零售；个人卫 生用品销售；日用杂品销售；卫生用品和一次性使用医疗用品销售。（除依法须经批准的项目外，凭营 业执照依法自主开展经营活动）。 ...

商品 环比（%） 同比（%） 白条猪 -0.1 8.9 白条鸡 -0.8 3.0 鸡蛋 -0.9 9.0 蔬菜 0.6 -3.3 水产品 0.2 3.3 ...

Group 1 - The core viewpoint emphasizes the importance of fully unleashing the market potential of a consumer powerhouse like China to drive high-quality economic development and enhance endogenous growth momentum [1] Group 2 - As of 2024, China's total automobile production and sales have ranked first in the world for 16 consecutive years, with home appliance sales such as air conditioners, washing machines, and refrigerators also leading globally [3] - China has the largest number of movie screens in the world, creating the largest film screening network globally, and is the largest single domestic tourism market, with domestic residents traveling 4.998 billion times in the first three quarters of this year, a year-on-year increase of 18% [5] Group 3 - In the digital consumption sector, China has the largest online retail market in the world, with online retail sales reaching 12.79 trillion yuan in the first ten months of this year, a year-on-year growth of 9.6% [7] - China leads globally in digital consumption and innovative payment methods, with mobile payment transaction volume expected to reach 563.7 trillion yuan in 2024 [9]

1. Report Industry Investment Rating No relevant content provided. 2. Core Viewpoints of the Report - Recently, after the U.S. government ended its shutdown, market sentiment varied, and asset trends diverged. The controversy over AI bubble resurfaced, and the high - level decline of safe - haven assets such as gold and Bitcoin raised market concerns, resulting in a decline in investors' risk appetite and a slight increase in the VIX volatility index. Global major stock markets showed mixed performance, with A - shares leading the decline after reaching a high, while the Hang Seng Index had a relatively large increase. The BDI index rose, U.S. bond yields increased, the U.S. dollar index slightly declined, and most non - U.S. currencies strengthened. Most commodities rose [4][8]. - In the domestic market, the bond market mostly closed down with short - term weakness and long - term strength, and most stock indices declined. The commodity sectors showed mixed performance but generally closed up, with the Wind Commodity Index having a weekly change of 3.92%. Among the 10 commodity sub - sector indices, 6 closed up and 4 closed down. Commodity futures generally maintained the pattern of strong agricultural products and weak industrial products [4][13]. - The probability of the Fed cutting interest rates by 25bp to 3.5 - 3.75% in December decreased to 39.8%, significantly lower than last week's 61.9%, while the probability of keeping the interest rate unchanged at 3.75 - 4% increased significantly [5][68]. 3. Summary by Relevant Catalogs Market Overview - Global asset trends: Global major stock markets showed mixed performance, A - shares led the decline after reaching a high, the Hang Seng Index rose, the BDI index increased, U.S. bond yields went up, the U.S. dollar index slightly declined, and most non - U.S. currencies strengthened. Most commodities rose, with precious metals stabilizing, rebounding, and then fluctuating at a high level, and copper and oil prices slightly rebounding [4][8]. - Domestic market performance: The domestic bond market mostly closed down with short - term weakness and long - term strength, and most stock indices declined. The commodity sectors showed mixed performance but generally closed up. The Wind Commodity Index had a weekly change of 3.92%. Commodity futures maintained the pattern of strong agricultural products and weak industrial products, with precious metals leading the rise, followed by significant increases in the agricultural products, grains, and oilseeds sectors. The non - ferrous and chemical sectors slightly closed up, while other sectors all closed down, with the coal, coking, steel, and mining and energy sectors having the largest declines [4][13]. - Futures market capital flow: The overall capital in the commodity futures market slightly flowed in. The precious metals, non - metallic building materials, oilseeds, and non - ferrous sectors had obvious capital inflows, while the soft commodities, coal, coking, steel, and mining, and chemical sectors had obvious capital outflows [4][15]. - Commodity volatility: The volatility of the international CRB Commodity Index significantly increased, while the volatility of the domestic Wind Commodity Index and Nanhua Commodity Index showed a divergent performance of one rising and one falling. Most of the commodity futures sub - sector volatilities declined, with the oilseeds, non - ferrous, soft commodities, and coal, coking, steel, and mining sectors having the largest decline in volatility, and the energy sector having the most obvious increase in volatility [5][22]. Variety Performance - The domestic major commodity futures showed mixed performance in the recent week. The top - rising commodity futures varieties were Shanghai silver, lithium carbonate, and apples, while the top - falling varieties were glass, coke, and red dates [18][21]. Data Tracking - International commodities: International major commodities generally closed up, the BDI slightly increased, the CRB was flat, soybeans and corn rose, and copper, oil, gold, and silver all closed up, with the silver price rising more and the gold - silver ratio significantly declining [26]. - Domestic data: Asphalt production rate continued to decline, real - estate sales were weakly bottom - seeking, freight rates rebounded with differentiation, and short - term capital interest rates fluctuated downward [41]. Macro Logic - Stock market: The domestic four major stock indices fluctuated and declined last week. In terms of style, value stocks were obviously more resistant to decline, while growth - style stock indices were relatively weaker. The valuation of stock indices declined, and the equity risk premium (ERP) changed little [30][31]. - Commodities: The commodity price index fluctuated and rebounded, and the inflation expectation was under downward pressure [34]. - U.S. bonds: U.S. bond yields rebounded, the term structure steepened bearishly, the term spread changed little, the real interest rate rebounded, and the gold price rebounded and then declined [49]. - U.S. economic indicators: The U.S. high - frequency "recession indicator" weakened, the Citi Economic Surprise Index showed differentiation, and the 10Y - 3M U.S. bond spread fluctuated in positive territory [60]. Fed Interest Rate Expectation The probability of the Fed cutting interest rates by 25bp to 3.5 - 3.75% in December decreased to 39.8%, significantly lower than last week's 61.9%, while the probability of keeping the interest rate unchanged at 3.75 - 4% increased significantly [5][68]. This Week's Focus - Monday (November 17): Canada's October CPI monthly rate, U.S. November New York Fed Manufacturing Index [73]. - Tuesday (November 18): U.S. October Import Price Index monthly rate, U.S. October Industrial Production monthly rate, U.S. November NAHB Housing Market Index, Minneapolis Fed President Kashkari hosts a fireside chat, Reserve Bank of Australia releases November Monetary Policy Meeting Minutes, Saudi Crown Prince Mohammed visits the White House and meets with U.S. President Trump [73]. - Wednesday (November 19): U.S. API crude oil inventory for the week ending November 14, UK October CPI monthly rate, Eurozone October CPI annual rate final value, U.S. October New Housing Starts annualized, U.S. EIA crude oil inventory for the week ending November 14, U.S. EIA crude oil inventory in Cushing, Oklahoma for the week ending November 14 [73]. - Thursday (November 20): China's October Swift RMB share in global payments, China's one - year loan prime rate as of November 20, Germany's October PPI monthly rate, Switzerland's October trade balance, U.S. initial jobless claims for the week ending November 15, U.S. November Philadelphia Fed Manufacturing Index, Eurozone November Consumer Confidence Index preliminary value, U.S. October Existing Home Sales annualized, U.S. October Conference Board Leading Index monthly rate, U.S. EIA natural gas inventory for the week ending November 14, Fed releases Monetary Policy Meeting Minutes, New York Fed President Williams gives a speech, September non - farm payroll data [73]. - Friday (November 21): Japan's October core CPI annual rate, UK November Gfk Consumer Confidence Index, UK November Manufacturing PMI preliminary value, Canada's September retail sales monthly rate, U.S. November S&P Global Manufacturing PMI preliminary value, U.S. November University of Michigan Consumer Confidence Index final value, U.S. November one - year inflation rate expectation final value, Chicago Fed President Goolsbee gives a speech, Philadelphia Fed President Patrick Harker gives a speech on the economic outlook, European Central Bank President Lagarde gives a speech, New York Fed President Williams gives a speech [73].

Core Points - The event "2025 Consumption Assistance for Farmers" was launched in Yinchuan, Ningxia, showcasing local agricultural products and promoting economic development [1] - The event features three main exhibition areas highlighting local specialties, wine tasting, and intangible cultural heritage displays [2] - A total of 400,000 yuan in electronic consumption vouchers were distributed to encourage consumer participation and enhance shopping experiences [4] Group 1 - The event aims to directly deliver high-quality agricultural products to consumers, injecting new momentum into the county's economic and social development [1] - The "Yongning Flavor" exhibition area includes products from 20 local enterprises, offering a variety of food items for tasting [2] - The "Red Wine Card" tasting area features three local wineries, allowing consumers to experience the unique charm of Ningxia wines [2] Group 2 - The event will run until November 16, with daily performances and live interactions to attract more visitors and enhance consumer engagement [4] - Trained sales personnel are present to provide detailed product introductions, significantly improving the shopping experience [4] - The event emphasizes the synergy between quality products, commercial interaction, and consumer enjoyment, aiming for shared foot traffic and mutual benefits [4]

天眼查App显示，近日，深圳市玄妙益行茶农副产品有限公司成立，法定代表人为李木生，注册资本5 万人民币，经营范围为一般经营项目是：农副产品销售；食用农产品批发；食用农产品零售；保健食品 （预包装）销售；食品销售（仅销售预包装食品）；食品互联网销售（仅销售预包装食品）；初级农产 品收购；互联网销售（除销售需要许可的商品）；茶具销售；日用百货销售；技术服务、技术开发、技 术咨询、技术交流、技术转让、技术推广；普通货物仓储服务（不含危险化学品等需许可审批的项 目）；组织文化艺术交流活动。（除依法须经批准的项目外，凭营业执照依法自主开展经营活动），许 可经营项目是：食品销售；酒类经营；烟草制品零售。（依法须经批准的项目，经相关部门批准后方可 开展经营活动，具体经营项目以相关部门批准文件或许可证件为准）。 ...

Core Insights - The 2025 (3rd) Huizhou Trade Fair and Foreign Trade Quality Products Procurement Conference commenced on November 14, focusing on promoting the integration of domestic and foreign trade and supporting the dual circulation of quality foreign trade products, attracting around 300 participating enterprises [1][3] Group 1: Event Overview - The event features a 20,000 square meter exhibition area showcasing over 3,000 quality products from Huizhou, including specialty foods, agricultural products, beverages, cultural and creative products, fashion footwear, and home appliances, highlighting the diverse development of Huizhou's industries [1] - The fair has been recognized as a key exhibition by the Guangdong Provincial Department of Commerce for three consecutive years, serving over 1,000 enterprises and facilitating transactions exceeding 100 million yuan [3] Group 2: Participation and Support - The event is supported by over 20 trade associations, including the Huizhou Agricultural Products Circulation Industry Association and the Huizhou Footwear Industry Association, showcasing a variety of high-quality products from different sectors [3][4] - Notable products include geographical indication products and well-known local brands, emphasizing Huizhou's reputation as a hub for quality manufacturing [4] Group 3: Regional Collaboration - The event features a special exhibition area for the Qiannan work team from Guizhou Province, promoting local products such as Yi Ren rice and Pu'an red tea, enhancing the "Qianguo Out of the Mountain" initiative [6] - Other regions like Tibet and Daqing also participated, showcasing unique agricultural products, thereby enriching the exhibition's offerings and fostering trade connections [6] Group 4: Activities and Engagement - A series of activities are planned during the fair, including the "Brand Huizhou - West Lake Forum" and targeted matching events for the footwear industry, aimed at enhancing brand development and facilitating business cooperation [6] - Interactive experiences such as drone football and cultural performances are designed to engage attendees, creating a vibrant atmosphere that combines trade discussions with cultural and recreational activities [6][7] Group 5: Future Goals - The organizing committee aims to continuously optimize services to ensure exhibitors gain benefits, buyers find surprises, and citizens enjoy the event, contributing to Huizhou's development as a more influential regional consumption center [7]

北京市发改委相关负责人介绍，"十四五"时期，北京市将消费帮扶与保障首都"菜篮子""米袋子""果盘 子"供给有机结合，推动支援合作地区特色产品上行外销，在促进当地脱贫群众和农村低收入群众增收 致富的同时，也为首都市民提供了更多优质实惠的餐桌选择。今年1-10月，全市消费帮扶金额已超290 亿元。未来，北京市将持续加大消费帮扶力度，进一步突出市场导向，把推动支援合作地区发展与满足 首都市民美好生活需要紧密结合，更好助力当地优质农副产品"出村进城"、特色文旅资源"出圈成名"。 据介绍，此次活动聚焦"京选好物，一县一品"主题，通过搭建"一站式"产销对接平台，为北京机关、企 事业单位等采购主体和市民提供了解和购买各地特产的体验平台。活动期间，主办方还邀请北京食品企 业互动参与，将支援合作地区生态、食材禀赋与北京老字号品牌、市场优势有机结合。同时还通过美食 品鉴、直播带货、对接洽谈等方式，促进产销衔接，现场采购帮销支援合作地区产品和服务金额2800余 万元。 新京报讯（记者周怀宗）拉萨的牛奶、和田的核桃、玉树的牦牛肉、长治的小米、兴安盟的大米……11 月14日上午，在北京市发改委、北京市商务局共同主办的2025年北京市支 ...

Core Insights - In October 2025, the Producer Price Index (PPI) in Liaoning decreased by 1.2% year-on-year, with the decline narrowing by 1.9 percentage points compared to the previous month [1] - The Industrial Producer Price Index (IPI) fell by 3.8% year-on-year, with a reduction of 1.1 percentage points from the previous month [1] Price Trends - The prices of production materials decreased by 0.7% year-on-year in October, with the mining industry down by 4.3% and processing industry down by 1.1% [1] - Consumer goods prices fell by 3.2% year-on-year, with food prices down by 4.6%, daily necessities down by 2.5%, durable goods down by 2.4%, and clothing down by 0.7% [1] Raw Material Price Movements - In October, the prices of nine major raw materials showed a "three increases and six decreases" trend year-on-year [1] - Prices for non-ferrous metals and wires increased by 0.8%, wood and pulp by 0.6%, and textile raw materials by 0.1% [1] - Other industrial raw materials and semi-finished products decreased by 0.7%, black metal materials by 3.2%, construction materials and non-metallic products by 4.6%, fuel and power by 6.5%, agricultural products by 7.0%, and chemical raw materials by 7.1% [1]

Core Insights - The 8th China International Import Expo (CIIE) is being held in Shanghai from November 5 to 10, featuring participation from 155 countries, regions, and international organizations, with 4,108 foreign enterprises exhibiting [1] Group 1: Event Overview - The CIIE has attracted a significant number of international participants, highlighting China's role as a major global market [1] - Myanmar, as a friendly neighboring country, has actively participated since the first expo, with 8 agricultural enterprises showcasing products such as tea, fruits, and honey [1] Group 2: Business Opportunities - Myanmar enterprises expressed the desire to establish long-term partnerships with quality buyers or e-commerce platforms through the expo, indicating a strategic approach to market entry [1] - The development of business opportunities is expected to enhance the living standards of small farmers associated with these enterprises, reflecting a commitment to social impact [1]