金融期货早评 宏观：关注非农 【市场资讯】1）美国总统特朗普已同意推动一项旨在加强对俄制裁的法案，该法案为特朗 普提供了阻止中国、印度、巴西等国购买廉价俄罗斯石油的砝码。外交部发言人毛宁对此 表示，中俄之间的正常经贸能源合作不针对第三方，也不应当受到干扰和影响。2）美国 10 月贸易帐录得-294 亿美元，为 2009 年 6 月以来最小逆差。3）美国至 1 月 3 日当周初请 失业金人数四周均值 21.175 万人，前值由 21.875 万人修正为 21.9 万人。4）美联储——① 米兰：预计在 2026 年将进行约 150 个基点的降息。②特朗普称已决定下一任美联储主席 人选。③贝森特敦促美联储进一步降息，并称预计特朗普将在本月宣布美联储主席人选。 【核心研判与传导逻辑】从宏观环境看，国内"适度宽松"的货币政策基调与"集成效应"调 控思路，提供偏暖流动性预期；"保持人民币汇率基本稳定"导向，在美元偏弱背景下有助 于稳定进口成本。国际层面形势紧张，美国财长贝森特再度喊话敦促美联储降息，这一高 频表态本身就是危险信号，暗示形势紧迫，市场正提前为潜在风险定价。其背后，12 月美 国就业报告虽号称"恢复正常"，却 ...

"相较于自然资源富集地区，西安经开区发展能源油气产业具有较强互补优势。"西安经开区管委会 副主任陈迪说，"我们将坚持推动科技创新、产业创新融合发展，围绕技术创新策源地、产业核心承载 区、企业服务总枢纽、工业增长助推剂4个定位，加快能源油气产业集群建设。" 据了解，西安经开区将建设好产业创新中心，促进龙头企业和高校科研资源整合，瞄准油气田技术 堵点和新能源融合瓶颈，开展共性技术协同攻关，服务全省能源油气新技术、新工艺、新产品迭代升 级；打造能源油气企业总部聚集区和高端装备制造项目聚集地，建设以"总部经济+装备制造"为特色的 能源油气产业核心承载区；布局一批检验检测、概念验证、中试基地等公共服务平台，帮助中小企业降 低研发成本；着力引培油气装备制造产业，在"十五五"时期创造新的百亿级增长点。（记者：陈志涛） 10月10日，记者从西安经开区管委会获悉：西安经开区将按照"一链一方案一措施一清单一图谱"模 式，加快打造千亿级能源油气产业集群。 据悉，西安经开区是西安市能源油气产业的主阵地。依托全国最大油气田——长庆油田，西安经开 区构建起体系完善、规模可观的能源油气产业链群，聚集油服配套企业500余家，2024年能源油 ...

Group 1 - The core industrial value added in Xi'an increased by 11% year-on-year from January to July, outperforming the national and provincial averages by 4.7 and 2.1 percentage points respectively, ranking second among 15 sub-provincial cities [1] - Key industrial chains, including large aircraft, photovoltaic, passenger vehicles, and smart connected vehicles, are driving industrial growth, with total output value of key industrial chains growing by 13.8% and accounting for 86.2% of the city's total industrial output [1] - The photovoltaic and passenger vehicle industries showed significant growth rates of 65.2% and 33.1% respectively [1] Group 2 - Xi'an Yanliang National Aviation High-tech Industry Base has made notable progress in the large aircraft industry chain, establishing a new regional cooperation model with COMAC and assisting 21 enterprises to enter the supply chain [2] - The aviation industry in Yanliang is projected to exceed 40 billion yuan in total output value by 2024, aiming to become a core area for the national large aircraft industry [2] - Xi'an Economic Development Zone achieved an industrial output value of 50.65 billion yuan in the energy oil and gas industry, marking a 29% year-on-year increase, and is developing an energy oil and gas industrial park [2] Group 3 - The Xi'an Industrial and Information Technology Bureau is promoting small and medium-sized enterprises' integration into large enterprises' industrial chains through a "three lists" mechanism, having collected over 4,000 resource demands [3] - Future plans include accelerating the implementation of proposals, innovation breakthroughs, project transformations, and spatial expansions [3]