● 本报记者 倪铭娅 王舒嫄 春节过后，佛山鑫码电子科技有限公司联合创始人程珍就进入"冲刺状态"——进工厂巡查、召开启动 会、跟进新订单，没有任何缓冲期。程珍的忙碌，正是全国外贸企业节后运营的生动缩影。 订单排期充足 "春节前就在加班加点赶制一批来自土耳其的订单，春节后又马上进入'加速模式'。"四川凯希蜀宇摩托 车有限责任公司董事长邓宇告诉中国证券报记者，"这批1180台出口土耳其的电动车已全面进入交付阶 段，预计2月26日就能全部装完，现在每天都在加班加点装货。" 不仅摩托车企业开足马力，日用品外贸企业的赶工热潮同样扑面而来。"目前公司在手订单已经排到5月 初，初八一开工，公司就满负荷生产。"江苏可士多日用品有限公司总经理屠新宁称，为了鼓励员工快 速返岗、全力赶工，公司特意给正月十二日之前到岗的新老员工准备了大红包。 源源不断的订单，不仅填满了企业的生产排期，更提振了企业出口的信心。"从今年前两个月订单情况 看，海外市场需求旺盛，预计公司一季度出口将实现大幅提升。"屠新宁语气坚定。 扬州民生刷业日化有限公司负责人张德钢也有着同样的底气："从目前情况看，公司一季度订单增长势 头明显，预计同比增长80%，一季度 ...

| 盒马牌悬挂式多功能厨房 | / | 180抽 | 2025-01- | 生产企业：江阴云智医疗无纺布 | 上海盒马网络科技有限公 | 上海市长宁区长宁路1123号 | / | | --- | --- | --- | --- | --- | --- | --- | --- | | 纸巾 | | | 09// | 制品有限公司 | 司长宁第三分公司 | (E)B1层10号 / / | | | 护舒宝®未来感极护液体 | 护舒宝 | 10片 | 2025-07- | 生产企业名称（产品责任单 | 上海盒马网络科技有限公 | 上海市长宁区长宁路1123号 | / | | 卫生巾 | | | 23// | 位）：广州宝洁有限公司 | 司长宁第三分公司 | (E)B1层10号 / / | | | 舒洁®牛乳系列乳霜纸面 巾口袋包 | 舒洁 | 7抽×10包 | 2025-05- 09// | 责任单位名称（委托方）：金佰 利（中国）有限公司 | 上海盒马网络科技有限公 司长宁第三分公司 | 上海市长宁区长宁路1123号 (E)B1层10号 / / | / | | | | | 2025-07- | | | | | | ...

2月22日至3月6日，广州市人社部门将持续加密专列运力，陆续开行贵州、重庆、湖北、湖南等地至广 州的返工专列11趟，配合省人社部门组织4趟，15趟专列预计接返务工人员超8000人。列车上设立"流动 政策宣传站"和"就业服务站"，发放"春风卡"、现场答疑，精准推送招聘信息、社保补贴、技能培训等 政策红利，以"靶向输送"保障平安返岗。 2月22日，满载约600名贵州籍务工人员的"山海心连 穗黔同行"返工专列（G2265都匀东—广州）准点驶 入广州南站。这是广州市人力资源和社会保障局联合黔南州人社局开行的首趟免费返岗专列，为务工人 员铺就"出家门、上车门、到厂门"的暖心通道，全力支持广州企业春节不停工不停产。 "特别开心！感谢广州提供免费列车，还发了吃的喝的，很温暖。"来自都江镇中坝村的韦宣孔在广州工 作已满5年，公司包四餐、每月500元租房补贴，还有千元"开门红"奖励。这次返岗，韦宣孔还介绍了四 五位老乡来穗发展。 同车的刘女士在广州的食品厂上班，收到列车发放的爱心礼品后表示："今年要多奋斗，多赚点钱给家 人。" 25岁的张义越本科毕业，在安利（中国）研发中心从事实验室工作，这是他第二次乘坐免费专列："通 过公众 ...

2026 年 2 月 24 日，美国海关与边境保护局（CBP）发布 CSMS#67834313 公告，宣布自美东时间当日 0 点 起，正式终止依据《国际紧急经济权力法》（IEEPA）征收的所有额外从价税。这一决定意味着特朗普政府 此前推出的针对中国等多国的对等关税、芬太尼供应链相关关税等多项措施正式废止，全球贸易格局迎来 阶段性调整，但紧随其后的新关税政策又让市场充满不确定性。 此次关税终止并非偶然，而是美国最高法院司法裁决后的直接结果。2 月 20 日，美国联邦最高法院以 6:3 的投票结果裁定，特朗普政府援引 IEEPA 实施的大规模关税政策缺乏法律依据，属于越权行为。值得注意 的是，参与投票的 9 名大法官中包括 3 名特朗普提名的保守派法官，这一裁决也被视为美国司法体系对行 政权边界的明确界定，标志着围绕总统紧急权力的法律博弈进入新阶段。 根据公告，此次终止的关税覆盖七大总统行政令相关措施，涉及领域广泛且针对性极强。其中包括为解决 美北部、南部边境非法药物流入的关税措施，针对中国合成阿片供应链的关税，对进口委内瑞拉石油国家 的惩罚性关税，为纠正美国贸易逆差设置的对等关税，以及针对巴西、俄罗斯的针对性关 ...

Economic Growth - The initial estimate of the US GDP growth for Q4 2025 is 1.4% on an annualized basis, significantly below the expected 2.8% and a sharp decline from the previous quarter's growth of 4.4% [1][3][6] - The overall economic growth for 2025 is recorded at 2.2%, down from 2.8% in 2024, primarily driven by consumer spending and investment increases [16] Government Impact - The government shutdown negatively impacted GDP by approximately 1 percentage point, with federal spending declining by 16.6% on an annualized basis during the quarter [6][8] - Non-defense federal spending saw a significant drop of 24.1%, marking the largest decline since 2020, affecting hundreds of thousands of federal employees and welfare payments [6] Consumer Behavior - Consumer spending, a major driver of GDP growth, contributed 1.6% to the overall GDP, although the growth rate slowed to 2.4% in Q4 from 2.9% in Q3, largely due to reduced spending on durable goods like automobiles [8] - The disparity in consumer confidence is evident, with lower-income groups feeling more anxious about job security and income prospects, leading to cautious spending behavior [17][18] Investment Trends - Business investment increased by 3.7%, driven by spending on information processing equipment, which is likely linked to the ongoing AI investment trend [8] - Major tech companies are projected to invest approximately $650 billion in data centers and related equipment by 2026, indicating a positive outlook for economic growth driven by technology [8] Inflation and Prices - The domestic final sales index rose by 3.7% in Q4, with the personal consumption expenditures (PCE) price index increasing by 2.9%, reflecting persistent inflationary pressures [9][11] - The core PCE price index, excluding food and energy, rose by 2.7%, indicating ongoing inflation concerns that may affect consumer purchasing power [9][11]

Group 1 - The article highlights that despite the implementation of U.S. tariffs, Chinese manufacturing has not been significantly impacted, with factories and ports in China experiencing increased activity and order volumes ahead of the Spring Festival [1][8][30] - U.S. tariffs, initially intended to reduce trade deficits and bring manufacturing back to the U.S., have instead resulted in increased costs for American consumers and businesses, with nearly 90% of the tariff burden falling on them [12][15][32] - The Chinese manufacturing sector has shown resilience, maintaining export levels and even experiencing growth due to strong demand and a diversified market strategy, countering the expected negative effects of tariffs [26][28][30] Group 2 - The article discusses the political and legal challenges faced by the Trump administration's tariff policies, including internal dissent within the Republican Party and court rulings questioning the legality of the tariffs [18][22][20] - There is a growing sentiment of "tariff fatigue" among U.S. retailers, importers, and consumers, with many businesses seeking to recover paid tariffs and expressing dissatisfaction with the ongoing trade policies [25][32] - The article concludes that the U.S. approach of unilateral protectionism through tariffs has not only failed to achieve its goals but has also led to negative repercussions for the U.S. economy, highlighting the importance of respecting market dynamics and pursuing mutually beneficial trade relationships [33][35][38]

Group 1 - The core viewpoint of the article is that Unilever's financial performance for the year 2025 fell short of market expectations, with total revenue and operating profit both below forecasts [1] - Unilever reported total revenue of €50.5 billion for 2025, which is lower than the market expectation of €51.3 billion [1] - The company's underlying operating profit for 2025 was €10.08 billion, also below the anticipated €10.3 billion [1] Group 2 - For the fourth quarter, Unilever's total revenue was €12.6 billion, which did not meet the market estimate of €12.92 billion [1] - The underlying earnings per share for 2025 were reported at €3.08 [1]

Core Viewpoint - The article highlights the rising popularity of blind box and blind bag clearance models in Quanzhou, which are becoming a new trend in the year-end consumer market as merchants seek innovative ways to manage inventory [1] Group 1: Market Trends - Quanzhou, as a major manufacturing city, faces constant challenges in inventory turnover, particularly in the footwear, textile, and daily goods industries [1] - Merchants are creatively applying blind box concepts to practical items like clothing, even offering personalized services such as "styling guidance" [1] - The shift from "selling inventory" to "selling experience" reflects the vitality of the market economy [1] Group 2: Risks and Challenges - The transition of blind boxes from collectibles to everyday consumer goods amplifies potential risks, as the core value of daily consumer products lies in their practicality [1] - The confidentiality of blind boxes prevents consumers from accessing key product information (e.g., ingredients, production dates), leading to discrepancies between expectations and actual products [1] - Some merchants exploit the "blind" format to include defective or unbranded products, which not only infringes on consumer rights but also undermines business credibility and the sustainability of the model [1] Group 3: Recommendations for Development - To promote the healthy development of blind box clearance, a balance must be sought between encouraging innovation and establishing firm boundaries [1] - It is essential to clarify that "blind format" does not equate to "blind responsibility" [1] - Only by ensuring accountability can inventory blind boxes transition from a short-term trend to a sustainable business model, injecting lasting vitality into the consumer market [1]

Core Insights - Qianwen APP has seen a significant increase in AI shopping order volume following the launch of its "Free Order Card," with users increasingly accustomed to placing orders with a single phrase [1][3] - The "30 Billion New Year Free Order" campaign, launched on February 6, has rapidly gained traction online, with users sharing their purchases of various goods [1] - In a single day, Qianwen facilitated the purchase of 3 tons of blueberries and over 80,000 jin (40,000 kg) of Northeast rice, showcasing the platform's capability to handle large orders [1] User Engagement - Users are actively participating in the campaign, with many collecting 21 Free Order Cards to engage in bulk purchasing, particularly in county markets [1] - The popularity of AI-assisted shopping is evident, with significant sales recorded in categories such as snacks and household cleaning products, including 110,000 boxes of Wangzai milk and 120,000 bars of Dove chocolate sold in one day [1] Operational Efficiency - The Qianwen APP allows users to place orders for a variety of products simply by stating their needs, with delivery times as quick as 30 minutes [3] - The platform's efficiency is highlighted by its ability to process nearly 3,500 orders from a single Hema store in Suzhou, indicating strong demand in county-level markets [1][3]

Core Viewpoint - The "Belt and Road" initiative is driving Chinese private enterprises to explore international markets, with Ghana emerging as a key destination for investment and industrial development [1]. Group 1: Company Development - The establishment of Greenhouse International Development (Ghana) Group by Gao Jian and his partner Zheng Xiangming in 2011 marked the beginning of their investment journey in Ghana, focusing on creating a sustainable industrial platform for Chinese enterprises [2]. - The company initially targeted urgent infrastructure and livelihood needs in Ghana, engaging in road and bridge construction and later expanding into agriculture and aquaculture [2][3]. - The company has developed the Guangming International Industrial Park, which has become a significant platform for Chinese enterprises to expand into the West African market, featuring comprehensive infrastructure and logistics [4]. Group 2: Industrial Park Features - Guangming International Industrial Park is designed for integrated development, combining industrial, commercial, and entertainment functions, and aims to attract over 70 Chinese enterprises by 2025 [5]. - The park is strategically located near Tema Port, enhancing its accessibility and potential to serve the broader West African economic zone [4]. Group 3: Local Engagement and Employment - The company emphasizes local employment, with over 90% of its workforce being local employees, and aims to create direct employment for 60,000 people and indirect employment for 200,000 upon full completion of the industrial park [8]. - The company provides systematic training and equal promotion opportunities for local employees, fostering skill development in engineering, manufacturing, and logistics [8]. Group 4: Social Responsibility - The company actively engages in social responsibility initiatives, contributing over 10 million RMB to various local community projects, including education and disaster relief [9]. - Gao Jian's commitment to community development reflects the company's philosophy of shared growth, emphasizing the importance of mutual development between the enterprise and local society [9].