文 ： 华创证券首席经济学家 张瑜 执业证号：S0360518090001 联系人：夏雪（SuperSummerSnow） 核心观点 梳理 2025 年中国出口结构。我们发现几大特点： 1 、区域： 新兴市场贡献突出，发达市场内部美国与非美正负拉动基本对冲（注：此处发达和新兴市场为笔者自行划分范围）。 2 、商品 ： 1 ）按用途分：中间品贡献突出，消费品负贡献，资本品持稳； 2 ）按大类分：可根据景气变化划分四种类型，其中两类极端一强一弱， 强的是景气 延续型商品 ， 即近两年出口增速均高的品类，可能是中国出口竞争力偏强、有持续增长动能的，包括交通运输设备、药品、电机电气及音像设备、仪器仪表、机 械设备及零件； 弱的是弱势延续型商品， 即近两年出口增速均为负的品类，可能是中国面临较大竞争压力的，包括伞具和假发、能源资源、玩具。 3 、重点区域×商品 ： 1 ）美国：全面回落，中间品韧性稍强； 2 ）欧盟：中间品和资本品平分秋色，消费品负拉动； 3 ）东盟：中间品涨势突出，资本品边际 增强，消费品负贡献； 4 ）非洲：全面增长，资本品和中间品各贡献约 4 成； 5 ）中东：全面增长，各用途商品增长贡献较平均； ...

齐鲁晚报.齐鲁壹点记者秦聪聪 1月16日，山东省政府新闻办举行政策例行吹风会，邀请省药监局主要负责同志等解读《关于全面深化药品医疗器械监管改革促进医药产业高质量发展的 实施意见》。 山东省药监局党组书记、局长，新闻发言人李涛介绍，药品和医疗器械是治病救人的特殊商品，事关人民群众身体健康和生命安全，事关经济社会发展大 局。党中央、国务院始终高度重视药品安全工作。为深入贯彻落实《国务院办公厅关于全面深化药品医疗器械监管改革促进医药产业高质量发展的意 见》，更大力度激发我省医药产业的创新活力和发展动能，省政府办公厅正式印发了《关于全面深化药品医疗器械监管改革促进医药产业高质量发展的实 施意见》。这是我省在当前新阶段、新形势下，统筹药品安全与产业发展的纲领性文件，标志着山东在深化药品监管改革、推动医药产业迈向更高层次上 迈出了关键一步。 据悉，《关于全面深化药品医疗器械监管改革促进医药产业高质量发展的实施意见》围绕6个方面提出29条措施：一是强化医药创新源头培育，支持前沿 技术布局、加强创新平台建设、推动创新药械转化落地、推进产学研医联动；二是优化临床试验生态，鼓励医疗机构承接试验、提升临床试验伦理审查效 率、推动A ...

Group 1 - The global situation is increasingly complex, with major powers pulling in different directions, leaving smaller countries like India and Turkey in difficult positions [1] - India faces economic challenges due to increased tariffs from the US on key exports, particularly textiles and pharmaceuticals, which are critical to its economy [3] - The relationship between India and Pakistan remains tense, with border conflicts exacerbating India's economic woes and leading to a rising unemployment rate of 14% [3] - Turkey's geopolitical position is precarious, as it attempts to mediate in the Russia-Ukraine conflict while facing internal challenges such as high inflation and the aftermath of a recent earthquake [5] - Japan's defense budget has reached a record 9 trillion yen (approximately 58 billion USD) in response to perceived threats from China, indicating a shift towards militarization [7] - Germany's economy is severely impacted by the loss of cheap Russian gas, with GDP growth projected at only 0.2% in 2025, leading to industrial decline and rising unemployment [9] Group 2 - The underlying risks for these countries stem from their inability to find a stable position amid great power competition, with India and Turkey struggling to maintain neutrality [11] - Japan's increased military spending and strategic reforms are seen as direct responses to threats from China, raising concerns about potential military conflict [7][11] - Germany's energy crisis and manufacturing exodus highlight its vulnerability in the current geopolitical landscape, affecting not only its economy but also the stability of the EU [9][11]

Core Viewpoint - The article highlights the importance of drug and medical device quality safety during the winter season, which is characterized by a surge in demand due to increased incidence of flu and respiratory diseases. The Xinjiang Shawan City Market Supervision Administration is conducting a special inspection to ensure safety and compliance in the pharmaceutical and medical device sectors [1] Group 1: Inspection Focus - The inspections are concentrated in high-risk areas such as urban-rural junctions, covering retail pharmacies, medical institutions, and specialized medical device enterprises to ensure comprehensive oversight in high-risk sectors [1] - In the pharmaceutical sector, inspectors are focusing on key aspects such as procurement channels and storage conditions, particularly monitoring essential medications for cold relief, chronic diseases, and pediatric use [1] - The medical device inspections prioritize sterile, implantable, and cold-chain devices, verifying the completeness of licenses, product registration, acceptance of purchases, and storage management [1] Group 2: Regulatory and Educational Efforts - The inspections emphasize a dual approach of regulation and legal education, with on-site interpretations of the Drug Administration Law and Medical Device Supervision Regulations, distributing over 60 related promotional materials to enhance compliance awareness among operators [1] - The Xinjiang Shawan City Market Supervision Administration plans to increase patrol efforts, streamline complaint and reporting channels, and maintain a zero-tolerance policy towards illegal activities to ensure the safety of public drug and medical device use during winter [1]

Core Viewpoint - Venezuela has agreed to use its oil sales revenue exclusively for purchasing American-made goods, including agricultural products, pharmaceuticals, medical equipment, and equipment for improving its electrical grid and energy facilities [1] Group 1 - The announcement was made by U.S. President Trump on January 7 via his social media platform "Truth Social" [1] - As of the time of reporting, there has been no response from the Venezuelan side regarding this agreement [1]

美国总统特朗普当地时间1月7日在其社交平台"真实社交"上发帖称，"委内瑞拉已同意将其石油销售所 得收入仅用于购买美国制造的商品。这些采购将包括美国农产品、药品、医疗设备，以及用于改善其电 网和能源设施的设备。"对此目前委内瑞拉方面暂无回应。（CCTV国际时讯） ...

中国质量新闻网讯 2025年以来，天津市市场监管委紧扣高质量发展"十项行动"与市场监管"五大工 程"，组织指导全市市场监管部门以"广告+N"专题计划为蓝图，积极推进广告助企惠农、产学研融合发 展，取得积极成效。 聚焦产业赋能，打造广告助企惠农新范式。以"文化为魂，创新为翼"为核心理念，促成10家龙头传媒与 36家老字号企业开展交流合作，为老字号品牌焕新、精准传播和数字化转型提供一站式服务。组织传媒 企业深入对接8个涉农经营主体与相关乡镇政府，提供品牌体系构建、商标创意设计和多元渠道拓展等 综合支持方案，搭建线上公益性宣传推广平台。 北辰区市场监管局启动重点企业风险会商机制，组建由执法业务骨干、行业专家组成的研判团队，与企 业代表共同梳理行业痛点，建立动态更新的行业风险数据库，对重点企业、高风险产品及关键营销时段 实施24小时动态监测，形成"风险识别—分析研判—预警处置"闭环管理，实现风险早识别、早处置。深 化"一企一策"服务机制，联合多部门提供一站式合规服务，为13家企业量身定制方案，指导21家建立审 核机制。建立分行业精准指导机制，针对食品、药品、医疗器械等领域组织4场合规座谈会，覆盖辖区 135家经营主体 ...

Core Insights - The "zero tariff" policy for pharmaceuticals and medical devices in Hainan Free Trade Port has been successfully implemented for one year, with cumulative imports valued at approximately 460 million yuan and tax reductions of about 62 million yuan [1] Group 1: Policy Overview - The "zero tariff" policy allows registered medical institutions, higher medical education institutions, and medical research institutes in the Boao Lecheng International Medical Tourism Pilot Zone to import specified pharmaceuticals and medical devices without paying import tariffs, value-added tax, and consumption tax [1] - The policy has been described as a significant benefit for registered medical institutions, reducing costs for patients and improving cash flow for enterprises [1] Group 2: Implementation and Future Plans - Haikou Customs has actively optimized customs clearance processes and conducted in-depth research to understand the challenges faced by different types of enterprises in utilizing the policy [1] - Future efforts will focus on further optimizing regulatory services and guiding enterprises to fully leverage the policy, aiming to enhance the release of policy benefits and support the development of a global hub for high-quality medical resources in the pilot zone [1]

为保障"零关税"药械政策实施，海口海关积极研究优化通关流程，深入走访调研了解不同类型企业 享惠政策堵点痛点，研提解决措施，让政策红利精准触及享惠主体。 下一步，海口海关将继续优化监管服务，引导企业用好用足政策，进一步推动"零关税"药械政策红 利释放，助力乐城先行区打造全球优质医疗资源集聚高地。 (责任编辑：魏敏) 自2024年12月31日首票业务落地以来，海南自贸港药品、医疗器械"零关税"政策已平稳运行一周年，政 策红利持续释放。据海口海关统计，截至2025年12月31日，累计进口"零关税"药械货值约4.6亿元，减 免税款约6200万元。 海南自贸港药品、医疗器械"零关税"政策明确，在博鳌乐城国际医疗旅游先行区内注册登记具有独 立法人资格并经认定的医疗机构、医学教育高等院校、医疗类科研院所，进口政策规定范围内的药品、 医疗器械，可享受免征进口关税、进口环节增值税和消费税，降低医疗机构运营成本，更为患者就医显 著减轻负担。 ...

中新网海口1月4日电 (刘一鸣)自2024年12月31日首票业务落地以来，海南自贸港药品、医疗器械"零关 税"政策已平稳运行一周年，政策红利持续释放。据海口海关4日统计，截至2025年12月31日，累计进 口"零关税"药械货值约4.6亿元，减免税款约6200万元。 海南自贸港药品、医疗器械"零关税"政策明确，在博鳌乐城国际医疗旅游先行区内注册登记具有独立法 人资格并经认定的医疗机构、医学教育高等院校、医疗类科研院所，进口政策规定范围内的药品、医疗 器械，可享受免征进口关税、进口环节增值税和消费税，降低医疗机构运营成本，更为患者就医显著减 轻负担。 海南博鳌超级医院相关负责人冯家龙说，政策对博鳌乐城国际医疗旅游先行区内注册的医疗机构产生利 好，不仅可以减轻患者用药用械成本，也为企业资金周转提供了很大的便利。 为保障"零关税"药械政策实施，海口海关积极研究优化通关流程，深入走访调研了解不同类型企业享惠 政策堵点痛点，研提解决措施，让政策红利精准触及享惠主体。 海口海关表示，下一步将继续优化监管服务，引导企业用好用足政策，进一步推动"零关税"药械政策红 利释放，助力乐城先行区打造全球优质医疗资源集聚高地。(完) （ ...