宏观日报 | 2025-11-05 化工中游开工上行，地产下游销售小幅回落 中观事件总览 生产行业：1）第八届中国国际进口博览会(以下简称"进博会")11月5日至10日在上海举行。作为全球首个以进口为 主题的国家级博览会，进博会"是中国着眼于推动新一轮高水平对外开放作出的重大决策，是中国主动向世界开放 市场的重大举措"。 服务行业： 1）11月4日，国务院办公厅发布关于2026年部分节假日安排的通知。其中，明年春节将从2月15日（农 历腊月二十八、周日）至23日（农历正月初七、周一）放假调休，共9天，被称为"史上最长春节假期"。去哪儿数 据显示，关于明年假日安排的消息发出不到半小时，平台上元旦期间的火车票、春节期间的火车票和国际机票搜 索量瞬时增长翻倍，且仍在冲高。其中春节期间出发的机票搜索量瞬时增长3倍。2）央行继续在月初通过买断式 逆回购向市场注入中期流动性。中国人民银行11月4日发布公开市场买断式逆回购招标公告称，为保持银行体系流 动性充裕，2025年11月5日，将以固定数量、利率招标、多重价位中标方式开展7000亿元买断式逆回购操作，期限 为3个月（91天）。 数据来源：iFind，华泰期货研究院 行 ...

该基地是双方落实国家深化产教融合政策的重要举措，旨在打通从理论教学到岗位实践的"最后一公 里"，为学生提供稳定的实习实训平台。未来，学生将有机会在真实运行场景中接触行业前沿技术，锤 炼专业技能，实现从校园到职场的顺畅过渡，同时也进一步彰显航务公司在人才培养方面的社会担当。 为实现资源共享与优势互补，双方将着力构建人员双向交流机制。航务公司技术骨干将走进校园，参与 课程设计、担任产业导师，传递一线经验；学校教师则深入企业，参与技术研发与项目攻关，推动教学 与实践深度融合。通过"引进来"与"走出去"相结合的机制，将有效推动产学研协同发展，为行业输送更 多高素质、高匹配度的技术技能人才。（编辑：许浩存 校对：陈虹莹 审核：韩磊） 《中国民航报》、中国民航网 记者冯智君 通讯员刘玉姣 报道：2025年11月4日，湖北机场集团航务服 务有限公司与兰州资源环境职业技术大学共建的"就业实训基地"在航务公司气象综合楼正式揭牌启用， 标志着双方在产教融合、共育人才方面进入实质性合作阶段。 （湖北机场集团航务公司供图） ...

Core Insights - Beijing Shunyi District is actively seeking 90 high-quality projects in key industrial areas, with a total investment of 93 billion yuan and financing needs of 15.8 billion yuan [1][2] Group 1: Project Overview - The 90 projects cover various sectors including new energy smart vehicles, third-generation semiconductors, healthcare, intelligent manufacturing, and modern services [1] - In the new energy smart vehicle sector, there are 10 projects with a total investment of 13.6 billion yuan and financing needs of approximately 2.6 billion yuan [1] - The aerospace sector includes 2 projects with a total investment of 2.4 billion yuan and financing needs of about 300 million yuan [1] - The third-generation semiconductor sector has 7 projects with a total investment of 4.1 billion yuan and financing needs of around 400 million yuan [1] - The intelligent equipment sector consists of 16 projects with a total investment of 7 billion yuan and financing needs of 1.8 billion yuan [1] - The healthcare sector features 29 projects with a total investment of 17.9 billion yuan and financing needs of 2.5 billion yuan [1] - The modern services sector includes 21 projects with a total investment of 28.8 billion yuan and financing needs of 8 billion yuan [1] - The intelligent manufacturing sector has 5 projects with a total investment of 19.2 billion yuan and financing needs of 200 million yuan [1] Group 2: Economic Context - Shunyi District has a solid economic foundation, with an average GDP growth of 5.8% since the 14th Five-Year Plan, reaching nearly 240 billion yuan last year [2] - The district is characterized by strong industrial features, particularly in high-end manufacturing, where it produces one out of every three cars in Beijing [2] - In the healthcare sector, Shunyi has established the only "Rare Disease Drug Guarantee Pilot Zone" in the country, showcasing its unique industrial advantages [2] - The modern service industry in the district includes over 200 aviation service companies and accounts for more than 50% of the indoor exhibition area in the city [2] Group 3: Strategic Initiatives - Shunyi is positioned as a significant window for international exchanges, with the Capital International Airport ranking among the top globally in passenger traffic [3] - The district hosts over 950 foreign-funded enterprises, including more than 80 multinational companies, and has nearly 10,000 foreign residents [3] - Shunyi has established a Foreigners' Entry and Exit Service Hall to provide efficient services for permanent residency, visas, and tax payments [3] - The district has hosted six HICOOL Global Entrepreneurs Summits, facilitating collaboration among 34,000 projects and 45,000 entrepreneurs from 167 countries and regions [3] - Current focus areas include new energy smart vehicles, aerospace, third-generation semiconductors, intelligent equipment, healthcare, and four modern service sectors: aviation services, business exhibitions, industrial finance, and technology services [3]

Group 1 - The "Pingyuan New City Venture Capital Event" in Beijing's Shunyi District showcased 90 quality projects with a total investment of 93 billion yuan and a financing demand of 15.8 billion yuan [1] - Key industries highlighted include new energy smart vehicles, third-generation semiconductors, healthcare, intelligent manufacturing, and modern services [1][2] - Specific project details include 10 projects in new energy smart vehicles with a total investment of 13.6 billion yuan and a financing demand of approximately 2.6 billion yuan [1] Group 2 - Shunyi District has a solid economic foundation, with an average GDP growth of 5.8% since the 14th Five-Year Plan, reaching nearly 240 billion yuan last year [2] - The district is a hub for high-end manufacturing, with significant contributions from the new energy smart vehicle industry, where one in three cars produced in Beijing comes from Shunyi [2] - Shunyi has established itself as a unique area for rare disease drug security in the healthcare sector and has a strong presence in the modern service industry with over 200 aviation service companies [2][3] Group 3 - Shunyi's open advantages include being a key international communication window with the Beijing Capital International Airport, which ranks among the top globally for passenger traffic [3] - The district hosts over 950 foreign-funded enterprises, including more than 80 multinational companies, and has established a foreigner service hall for efficient immigration services [3] - The event featured financing promotions from companies such as Beijing Mainline Technology Co., Ltd. and Beijing Anlong Biopharmaceutical Co., Ltd., with a total signing amount of 300 million yuan [3]

阿布扎比国家石油公司代表现场见证此次签约，并深入了解峰飞航空eVTOL的性能参数与应用方案。 作为全球最大的石油和天然气生产商之一，ADNOC为阿布扎比酋长国政府全资所有，在2024年全球品 牌价值500强榜单中排名第128位。 猎鹰航空还运营着一支直升机机队，专门用于阿联酋和科威特的海上能源运输任务，也是阿布扎比国家 石油公司（ADNOC）海上作业的主要直升机服务提供商。 （文章来源：中国经营报） 10月27日，阿联酋猎鹰航空服务公司（Falcon Aviation Services，以下简称"猎鹰航空"）与峰飞航空科技 达成重大合作——猎鹰航空向峰飞航空订购50架eVTOL航空器，且首批将于2025年底启动交付，用于 阿布扎比国家石油公司运输。 猎鹰航空CEO，Raman Oberoi机长表示： "作为领先的航空服务提供商，猎鹰航空始终致力于为客户提 供更高效、更环保的出行与货运解决方案。峰飞航空在eVTOL领域的技术实力与适航进展，让我们对 合作充满信心。明确的交付时间表，有助于加速推动中东低空交通与能源行业的深度融合。" 《中国经营报》记者了解到，此次合作订单含15架载货机型V2000CG凯瑞鸥与35 ...

Core Insights - The Shunyi District of Beijing is actively seeking to attract investment by promoting 90 high-quality projects across key industries, with a total investment of 93 billion yuan and a financing demand of 15.8 billion yuan [1][2]. Group 1: Project Overview - The 90 projects cover various sectors including new energy smart vehicles, third-generation semiconductors, healthcare, intelligent manufacturing, and modern services [1]. - Specific project details include: - New energy smart vehicles: 10 projects, total investment of 13.6 billion yuan, financing demand of approximately 2.6 billion yuan [2]. - Aerospace: 2 projects, total investment of 2.4 billion yuan, financing demand of approximately 300 million yuan [2]. - Third-generation semiconductors: 7 projects, total investment of 4.1 billion yuan, financing demand of approximately 400 million yuan [2]. - Intelligent equipment: 16 projects, total investment of 7 billion yuan, financing demand of 1.8 billion yuan [2]. - Healthcare: 29 projects, total investment of 17.9 billion yuan, financing demand of 2.5 billion yuan [2]. - Modern services: 21 projects, total investment of 28.8 billion yuan, financing demand of 8 billion yuan [2]. - Intelligent manufacturing: 5 projects, total investment of 19.2 billion yuan, financing demand of 200 million yuan [2]. Group 2: Economic Development - Shunyi District has shown strong economic performance, with an average GDP growth of 5.8% during the 14th Five-Year Plan, reaching nearly 240 billion yuan last year [3]. - The district is focusing on five high-end manufacturing sectors and four modern service sectors to establish itself as a hub for industrial development in the capital [3]. - The new energy smart vehicle industry is particularly significant, with one in three cars produced in Beijing coming from Shunyi [3]. Group 3: Infrastructure and Support - Shunyi District has established a robust infrastructure with over 900 medical institutions and 11 international schools, catering to 40% of the city's student population [4]. - The district is implementing a 100 billion yuan investment guidance fund to support enterprise financing and development [4]. - A high-standard business environment is being created, including tailored services for enterprises and a comprehensive policy support system [4]. Group 4: Future Initiatives - The "Pingyuan New City Venture Capital Event" aims to create an efficient platform for investment and financing, aligning financial resources with the needs of the new city [5]. - Future events will expand to other areas such as Daxing, Fangshan, and Yizhuang, promoting a collaborative mechanism among government, enterprises, and funds [5].

Group 1 - The 20th Central Committee's Fourth Plenary Session emphasizes the importance of achieving socialist modernization and encourages continuous efforts towards national rejuvenation [1] - The Beijing Municipal Social Work Department aims to enhance social governance, focusing on new economic organizations and employment groups, while improving community service systems [1] - The Beijing Municipal Bureau of Ecology and Environment highlights significant improvements in air quality during the 14th Five-Year Plan and sets goals for a harmonious relationship between humans and nature in the next five years [2] Group 2 - The Beijing Municipal Federation of Industry and Commerce plans to strengthen political guidance for private enterprises and improve the business environment to support high-quality development [2] - The Beijing Internet Court will focus on digital rights, artificial intelligence, and algorithm governance to provide judicial support for the healthy development of the digital economy [3] - The Capital Airport Economic Zone aims to develop a modern industrial system that supports international exchanges and enhances its role as a comprehensive international aviation hub [3] Group 3 - The National Grand Theatre plans to enhance various platforms for performing arts and cultural education to meet the growing cultural needs of the public [4] - Community initiatives like the "Hutong Discussion Council" aim to engage residents in local governance and improve living conditions through digital empowerment [5] - The Beijing Municipal People's Procuratorate focuses on enhancing its service system to support the capital's functional development and improve the quality of its work [5]

Core Insights - The event titled "Empowering Partners, Serving the World" was held by Pan American Group in collaboration with Singapore's SATS at Southwest Aviation Vocational College in Sichuan, aimed at fostering international cooperation in aviation talent development and resource sharing [1][4]. Group 1: Event Overview - The event took place from October 14 to 15, featuring over 20 representatives from well-known companies and international education experts from countries including Singapore, Malaysia, Myanmar, Thailand, and South Korea [4]. - Discussions focused on key topics such as international aviation talent cultivation, resource sharing, industry-education integration, and cultural exchange [4]. Group 2: Educational Initiatives - Pan American Group emphasizes a philosophy of "learning the beauty of the world to achieve the beauty of China," promoting integration of industry and education as well as international development [8]. - The establishment of the "Sino-Singapore International Aviation Industry College" in collaboration with SATS has led to over 100 students securing employment in Singapore's civil aviation sector, enhancing international employment pathways [8]. Group 3: Future Directions - The event is expected to drive innovation and upgrades in the industry talent cultivation system, aligning with China's "Vocational Education Going Global" policy [9]. - The Southwest Aviation Vocational College aims to further integrate industry-education collaboration at higher levels and broader fields, contributing to the high-quality development of civil aviation and the global aviation service industry [9].

Market Performance - On October 14, US stock indices closed mixed, with the Dow Jones up 0.44%, the Nasdaq down 0.76%, and the S&P 500 down 0.16% [1] - Major tech stocks mostly declined, with Broadcom down over 3%, and Tesla and Amazon down over 1% [1] - Semiconductor and cryptocurrency reserve stocks saw significant declines, with Intel down over 4%, Strategy and Coinbase down over 4%, and Micron Technology and Arm down over 2% [1] Sector Performance - Rare earth, airline services, and infrastructure operation sectors saw gains, with JetBlue Airways up nearly 8%, Caterpillar and Delta Air Lines up over 4%, and American Airlines up over 3% [1] - Walmart's stock rose by 5%, reaching a record closing high [1] Chinese Stocks - The Nasdaq Golden Dragon China Index fell by 1.95%, with popular Chinese stocks generally declining, including NIO down over 5%, Baidu down over 4%, and Bilibili down over 3% [4] Commodities - COMEX gold futures rose by 0.64%, closing at $4159.6 per ounce, while COMEX silver futures fell by 0.17%, closing at $50.345 per ounce [6] - WTI crude oil futures fell by 1.33%, closing at $58.70 per barrel, and Brent crude oil futures fell by 1.47%, closing at $62.39 per barrel [7] Federal Reserve Insights - Federal Reserve Chairman Jerome Powell indicated a potential for interest rate cuts in the coming months, despite the government shutdown affecting economic assessments [7][8] - Powell noted that the labor market remains stable, with low unemployment rates, but wage growth has significantly slowed [8] - Fed Governor Bowman expects two more rate cuts by the end of the year, while New York Fed President John Williams expressed concerns about the risks of a labor market slowdown [10]

Market Performance - On October 14, US stock indices closed mixed, with the Dow Jones up 0.44%, the Nasdaq down 0.76%, and the S&P 500 down 0.16% [1] - Major tech stocks mostly declined, with Broadcom down over 3%, and Tesla and Amazon down over 1% [1] - Semiconductor and cryptocurrency stocks saw significant declines, with Intel down over 4%, Strategy and Coinbase down over 4%, and Micron Technology and Arm down over 2% [1] - The rare earth, airline services, and infrastructure operation sectors saw gains, with JetBlue Airways up nearly 8%, Caterpillar and Delta Air Lines up over 4%, and American Airlines up over 3% [1] - Walmart's stock rose 5%, reaching a record closing high [1] Nvidia Performance - Nvidia's stock price was reported at $180.03, down 4.40%, resulting in a market value loss of $20.14 billion (approximately 143.78 billion RMB) [2] Chinese Stocks - The Nasdaq Golden Dragon China Index fell 1.95%, with popular Chinese stocks generally declining, including NIO down over 5%, Baidu down over 4%, and Bilibili down over 3% [4] Commodity Prices - FTSE A50 futures rose 0.38%, closing at 14,779 points [5] - COMEX gold futures increased by 0.64%, priced at $4,159.6 per ounce, while COMEX silver futures decreased by 0.17%, priced at $50.345 per ounce [5] - WTI crude oil futures fell by 1.33%, closing at $58.70 per barrel, and Brent crude oil futures dropped by 1.47%, closing at $62.39 per barrel [5] Federal Reserve Insights - Federal Reserve Chairman Jerome Powell indicated a potential for interest rate cuts this month, citing a deteriorating labor market despite the government shutdown affecting economic assessments [7] - Powell noted that economic growth might be slightly more robust than expected, with the unemployment rate remaining low and wage growth slowing significantly [7] - Powell suggested that the Fed may halt its balance sheet reduction in the coming months [7] - Fed Governor Bowman expressed expectations for two more rate cuts by the end of the year [10] - John Williams, President of the New York Fed, highlighted concerns over the labor market's gradual cooling, although he did not foresee an imminent recession [10] - Williams estimated that tariffs have raised inflation by 0.25 to 0.5 percentage points, but he noted that the overall inflation risk has stabilized [11]