美国政府因预算僵局而停摆已经整整四周，这一局面让联邦政府的基本服务几乎停滞不前。超过75万名 非必要岗位的政府雇员被迫进入无薪休假状态，其中超过4000人收到裁员通知。40万家庭因此面临断粮 的困境，这一局面不仅影响到政府雇员的生计，还导致社会上大量需要政府援助的民众陷入困境。 AFGE的声明立即引发了轩然大波。参议院的共和党人迅速在社交媒体上转发该声明，指责民主党人为 政府关门负有责任，并呼吁民主党放弃抵抗。此外，AFGE还联合其他工会在加州提起诉讼，指控联邦 政府在停摆期间非法裁员超过4000名政府雇员。上周，加州的一位联邦法官紧急下令暂时停止裁员，称 这一行为非法且残酷。这一事件不仅是一次劳资纠纷，更是美国联邦机构内部信任危机的明显信号。 这次政府停摆的影响不同于以往。10月，美国政府进入第四周停摆状态，许多联邦雇员因此无法领到工 资，甚至有些人不得不申请短期贷款来应付生活开支。以财政部的职员马克·安德森为例，虽然他属于 必要岗位，每天依然工作，但却没有任何工资收入。他的家庭面临着巨大的经济压力，每月的房贷和两 个孩子的学费让他不堪重负。他直接表示：以前还能熬一熬，但这次政府关门，我真的开始慌了。 对于 ...

Core Points - Zhengzhou Municipal Health Commission has issued a notice to enhance the management and service platform for electronic health certificates, emphasizing compliance with laws and regulations [1][2] - The electronic health certificate is a digital document for legally mandated personnel who have passed preventive health checks for infectious diseases [1] - The construction of the electronic health certificate service platform in Zhengzhou is a significant public welfare project aimed at standardized management and effective supervision through information technology [1] Summary by Sections - **Platform Access and Integration**: The health commission requires local health authorities and third-party service providers to actively facilitate the integration of health certificate services, ensuring that all eligible institutions can connect to the platform for free [2] - **Public Welfare Orientation**: The service platform is designed with a public welfare focus, ensuring that data interfaces are open and accessible, while prohibiting any fees from being charged to health institutions for platform access [2] - **Compliance and Regulation**: All involved parties must adhere to legal and regulatory standards, with a strong emphasis on preventing any illegal or non-compliant activities related to the health certificate platform [2]

Group 1 - The core viewpoint of the articles highlights the ongoing nationwide strikes in France, protesting against government austerity measures and demanding higher taxes on the wealthy [1][2] - The scale of the strikes has decreased compared to the previous month, with tens of thousands participating in demonstrations across the country [1] - Key sectors affected by the strikes include transportation, education, and healthcare, with notable closures such as the Eiffel Tower and some schools [1] Group 2 - The French Ministry of the Interior reported that nearly 200,000 people participated in the demonstrations nationwide, including 24,000 in Paris, while the French General Confederation of Labor claimed 600,000 participants [1] - The government has deployed 76,000 police and gendarmes to maintain order during the protests [1] - Prime Minister Le Cornu has expressed willingness to continue dialogue with union organizations regarding social welfare issues and is expected to finalize the new cabinet by the weekend [2]

Core Points - A nationwide strike occurred in France on September 18, with tens of thousands participating to protest against the government's austerity measures [1] - The strike significantly impacted various sectors, including transportation, education, healthcare, and energy, leading to service disruptions in Paris and other regions [1] - The French government reported approximately 500,000 participants in the protests, while unions claimed the number was around 1 million [1] - The main demands of the unions include the withdrawal of the 2026 budget plan proposed by the Borne government, increased public service spending, and higher taxes on the wealthy [1] - Recent polls indicate that over half of the French population supports the strike and related protests, with only 25% opposing them [1] - French Prime Minister Élisabeth Borne responded to the protests, emphasizing ongoing dialogue with social groups and condemning violence against police [1] Industry Impact - The strike led to significant disruptions in public transportation services, including metro, suburban trains, and buses, as well as the closure of tourist attractions like the Eiffel Tower [1] - The energy sector also experienced a decrease in electricity generation due to the strike [1] - The upcoming meeting of union representatives on September 19 may determine future actions, including the possibility of additional strikes, indicating ongoing labor unrest [2]

Group 1 - Ecolab Group celebrates its 50th anniversary in the Greater China market in 2025, with its headquarters in Shanghai and a research center in Pudong recognized as a postdoctoral innovation practice base [1][8] - Ecolab operates in over 170 countries, providing comprehensive solutions and services in water, hygiene, and infection prevention, achieving annual sales of $16 billion [1] - The company has established a "global R&D - regional adaptation" system supported by 16 R&D centers, over 1,200 scientists, and more than 10,500 patents, promoting both localization and international collaboration [1] Group 2 - Ecolab's R&D team in Greater China has developed smart devices and new formula products that are efficient and environmentally friendly, contributing to local market success and global solutions [2] - Since entering the Greater China market in 1975, Ecolab has aligned its development with local social progress and market demands, establishing a major R&D center in Shanghai in 2011 [3] - The Greater China R&D center has nearly 100 scientists and engineers with top educational backgrounds, contributing over 100 international invention patents [3] Group 3 - Ecolab's ReadyDose™ tablet product, which has sold over 100 million units, addresses cleaning cost and efficiency issues in the food service industry by offering solid tablet cleaning solutions [5] - Innovations in sustainable development include low-temperature CIP technology, water reuse technology, and packaging innovations that reduce pollution and plastic use [5] - Ecolab is actively responding to China's carbon neutrality and digitalization goals through its digital solutions platform, Ecolab Smart Hub®, enhancing operational automation and efficiency [5][6] Group 4 - The recognition as a postdoctoral innovation practice base allows Ecolab to attract high-end talent and enhance its R&D capabilities, further supporting its mission of "In China, for the world" [8]

Core Viewpoint - China has made a significant policy adjustment regarding the value-added tax (VAT) refund system, becoming more cautious about refunds to improve policy guidance and efficiency [1][2]. Group 1: Policy Adjustments - The Ministry of Finance and the State Taxation Administration announced new VAT refund policies effective from September, focusing on specific industries [1][2]. - The adjustment aims to enhance the precision of tax policies and reduce the burden on tax administration [1][2]. Group 2: Industry-Specific Changes - The manufacturing, scientific research and technology services, software and information technology services, and ecological protection and environmental governance sectors will continue to enjoy monthly VAT refunds [3]. - Other sectors previously eligible for full refunds, such as wholesale and retail, agriculture, accommodation, and education, will now face new restrictions and reduced refund rates [3][4]. Group 3: Real Estate Sector - The real estate development sector will maintain its previous VAT refund policy, allowing eligible taxpayers to apply for a 60% refund on newly added VAT credits after meeting specific conditions [4][5]. - This policy aims to stabilize the real estate market and alleviate financial pressure on developers [5]. Group 4: General Industry Adjustments - For industries outside the specified sectors, a new threshold of 500,000 yuan for newly added VAT credits has been established, with a tiered refund rate of 60% for amounts up to 10 million yuan and 30% for amounts exceeding that [6]. - The new policy reflects a shift from broad-based tax reductions to more structured tax policies, addressing fiscal constraints and preventing tax fraud [6][7].

Core Viewpoint - China has made a significant policy adjustment regarding the value-added tax (VAT) refund system, becoming more cautious about refunds to reduce fiscal pressure and improve management efficiency [3][4]. Summary by Sections VAT Refund Policy Adjustment - The Ministry of Finance and the State Taxation Administration announced a new VAT refund policy effective from September, aimed at enhancing policy precision and reducing compliance costs [3][4]. - The VAT is China's largest tax, generating over 6 trillion yuan annually [3]. Historical Context - Since 2011, China has piloted VAT refunds for specific industries to alleviate financial pressure on enterprises, with significant expansions in 2019 and 2022 [4][5]. - The total amount of VAT refunds surged to 2.46 trillion yuan in 2022, a 3.8-fold increase from 2021, as part of measures to support businesses during the pandemic [5]. Changes in Eligible Industries - The new policy continues to allow full monthly refunds for the manufacturing, scientific research, software, and environmental sectors, while imposing restrictions on previously eligible sectors like wholesale and retail [6][10]. - Industries such as wholesale, retail, agriculture, and hospitality will now receive partial refunds (60% or 30%) instead of full refunds [6][10]. Real Estate Sector Provisions - The real estate sector has a separate VAT refund policy, allowing developers to apply for refunds under specific conditions, maintaining stability in the sector [7][9]. - The policy aims to support the real estate market amidst ongoing challenges, with a focus on maintaining operational stability [8][9]. General Industry Adjustments - Other industries not included in the specified categories will face stricter requirements for VAT refunds, including a minimum threshold of 500,000 yuan for new refundable amounts [10][11]. - The new policy reflects a shift from broad tax cuts to more targeted fiscal measures, addressing the need for fiscal sustainability and risk prevention [10][11]. Implementation and Management - The State Taxation Administration has issued detailed guidelines to ensure the effective implementation of the new VAT refund policy [11]. - Tax revenue data indicates a slight decline in overall tax income, with VAT revenue showing a modest increase of 3% year-on-year [11].

| 股票代码：600272 | 股票简称：开开实业 | | | 编号：2025—054 | | --- | --- | --- | --- | --- | | 900943 | | 开开 | 股 B | | 上海开开实业股份有限公司 2025 年半年度主要经营数据公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性依法承担法律责任。 上海开开实业股份有限公司（以下简称"公司"）根据《上海证 券交易所上市公司自律监管指引第 3 号—行业信息披露》附件《第四 号—零售》《关于做好主板上市公司 2025 年半年度报告披露工作的 重要提醒》等有关规定的要求，现将公司 2025 年半年度主要经营数 据披露如下： 一、报告期内门店变动情况 2) 服装板块 3) 其他 2、主营业务分地区 单位：万元 币种：人民币 分行业 营业收入 营业收入比 同期增减(%) 营业成本 营业成本比 同期增减(%) 毛利率 (%) 毛利率比同期增减 (%) 批发业 40,297.08 25.11 34,674.66 31.81 13.95 减少 4.38 个百分点 零售业 ...

Group 1 - The U.S. labor market data has been significantly revised downwards, with a total of 258,000 jobs disappearing from the non-farm payrolls over two months, indicating a potential systemic issue with the accuracy of employment statistics [2][4] - The U.S. government has a history of releasing favorable employment data to boost market confidence, only to later revise these figures downward, which has raised concerns about the integrity of the data [4][6] - The recent employment data revisions have led to negative implications for President Trump's administration, as he faces pressure to address the weak job numbers and has called for the dismissal of key economic officials [4][6] Group 2 - The job growth reported in June, which showed an increase of 147,000 jobs, was misleading as the majority of new positions were in government, education, and healthcare, while retail and manufacturing sectors showed little to no growth [6][7] - The current economic situation in the U.S. presents a dilemma for monetary policy, where both raising and lowering interest rates could lead to significant risks for the economy [6] - In the context of U.S.-China trade negotiations, the U.S. appears anxious and is employing various strategies, while China maintains a stable and patient approach, suggesting a potential delay tactic from the Chinese side [7]

Core Insights - The ADP report indicates that the recovery in the service sector has led to an increase in hiring numbers, although the education and healthcare sectors have experienced net job losses so far this year [1] Group 1 - The service sector's recovery is a significant driver of job growth [1] - Education and healthcare sectors have seen a net loss of jobs in 2023 [1]