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高波策略承压,看好顺周期红利:产业经济周观点-20250921
Huafu Securities· 2025-09-21 13:10
策 华福证券 2025 年 09 月 21 日 略 研 究 策 略 定 期 报 高波策略承压,看好顺周期红利——产业经济周 观点 投资要点: 近期观点 诚信专业发现价值 1 请务必阅读报告末页的声明 告 1、 美国降息落地,中国或将迎来政策宽松,价格复苏,指数加 速,市场结构调整的时间窗口。 团队成员 分析师: 李浩(S0210524050003) lh30530@hfzq.com.cn 分析师: 李刘魁(S0210524050006) llk30550@hfzq.com.cn 相关报告 1、港股开始追赶?——2025.09.14 2、市场状态高频数据库——9 月第 2 周—— 2025.09.14 3、TMT 多主题出现形态——2025.09.14 风险提示 全球制造业复苏受阻;中美关系改善不及预期;美国地产市场不 健康 研 究 报 告 证 券 华福证券 2、 短期高波动率策略承压,顺周期红利策略相对占优。 3、 看好保险,有色,能源,低 PB,恒生科技,军贸。 4、 商品白银和原油弹性大。 | 19月议息会议:一场"鹰派"的修正 | | --- | | 2 港股复盘: 恒生科技领涨 . | | 3A 股市 ...
广东落地“零散工业废水指标数据挂钩贷”
Zhong Guo Xin Wen Wang· 2025-08-05 08:30
Core Viewpoint - The People's Bank of China (PBOC) Dongguan Branch has introduced a "scattered industrial wastewater index-linked loan" to address financing challenges for enterprises involved in the treatment of scattered industrial wastewater, facilitating their green transformation [1][2]. Group 1: Industry Overview - Dongguan, a manufacturing hub in Guangdong, has a high number of small and medium-sized enterprises (SMEs) generating scattered industrial wastewater, which poses significant environmental challenges [1]. - The city has established six centralized treatment facilities for scattered industrial wastewater, enabling nearly 20,000 enterprises to have their wastewater processed collectively [1]. Group 2: Financing Mechanism - The new loan product links the amount of wastewater processed by enterprises to their credit limits and interest rates, incentivizing better wastewater management practices [2]. - An example includes a Dongguan company that generates approximately 3,000 tons of wastewater monthly and received a loan of 50 million yuan based on its wastewater management data [2]. - The more wastewater an enterprise processes, the better its performance on the wastewater index, leading to higher credit limits and interest rate discounts [2]. Group 3: Support for SMEs - The PBOC Guangdong Branch aims to enhance and promote a financing support model that combines central bank re-lending with the new loan product and risk compensation, targeting more SMEs involved in both generating and treating scattered industrial wastewater [2].