金融与保险

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波黑塞族共和国最高薪行业平均工资达2007马克
Shang Wu Bu Wang Zhan· 2025-08-28 12:01
塞族共和国工会联合会数据显示,7月塞族共和国一篮子消费品价格为2750马克,平均净工资仅能覆盖 一篮子消费品的57%。职工的家庭支出中,食品消费占比最高,平均达1269马克;住房及公共事业平均 支出667马克,交通费平均支出226马克,服装鞋类平均支出221马克,家庭日常维护费用平均支出161马 克。(驻波黑使馆经商处) 波黑国家台8月26日报道。根据波黑塞族共和国工会联合会数据,7月波黑塞族共和国职工平均净工资为 1556马克,其中最高平均工资为金融与保险行业,2007马克;而建筑业以1206马克的平均工资垫底。 ...
大摩730闭门会核心观点纪要:多行业反内卷动态与投资逻辑解析
Zhi Tong Cai Jing· 2025-07-30 14:42
快递行业未进入工信部重点反内卷名单,优先级较低。头部企业仍保持盈利,反内卷迫切性不足;内卷 本质是产能过剩与落后产能无法出清,导致低水平价格竞争。 一、快递行业:反内卷优先级低,整合为长期主线 现状与核心矛盾 解决路径与挑战 兼并整合是最优解,但面临企业意愿低、执行难度大、反垄断审查严格等障碍。价格调整更可能是区域 性、短期行为,全国性调价或份额重构概率低。 情境推演 基准情境(概率较高):行业整合持续,区域性小幅调价延缓竞争烈度,偏好份额与成本领先的中通、 圆通; 悲观情境:全行业大幅涨价短期利好盈利薄的申通、韵达,但中长期将刺激扩产,加剧产能过剩; 乐观情境:监管推动整合,大小企业估值均提升,资金实力强的主导方长期空间更大。 投资者疑问 认可航空国企执行力强于快递,但核心担忧监管是否真正推动反内卷及抗通缩政策落地。 三、石化行业:炼油产能出清利好国企,化工需警惕新增产能 投资者态度 此前因内卷长期低配,近期虽不再低配但超配极少。认可中通自由现金流回报率(高单位数)的短期估 值修复空间,但整体情绪偏谨慎,反对 "运动式涨价" 损害行业长期发展。 二、航空行业:亏损压力下反内卷迫切性凸显,需监管强协调 行业困 ...
新加坡二季度经济增速超预期
Jing Ji Ri Bao· 2025-07-22 22:05
Economic Growth - Singapore's economy grew by 4.3% year-on-year in Q2, continuing the previous quarter's growth of 4.1% [1] - The preliminary estimate for Singapore's GDP growth in the first half of the year is 4.2% [1] - The Ministry of Trade and Industry warns of significant uncertainty and downside risks to the global economy in the second half of the year due to unresolved U.S. tariff policies [1] Sector Performance - Manufacturing sector grew by 5.5% year-on-year in Q2, up from 4.4% in the previous quarter, driven by expansion in all clusters except chemicals and general manufacturing [1] - Construction sector experienced a 4.9% year-on-year growth in Q2, primarily due to increased public sector construction output [1] - Service sector grew by 4.1% year-on-year in Q2, higher than the 3.7% growth in Q1, with wholesale and retail trade, transportation, and warehousing sectors growing by 4.8% [2] Service Sector Details - Growth in transportation and warehousing was mainly driven by the maritime sector, while wholesale and retail trade growth was led by machinery, equipment, and supplies [2] - The overall growth of wholesale and retail trade, transportation, and warehousing increased from 0.8% in Q1 to 2.7% in Q2 after seasonal adjustment [2] - Information and communication, finance and insurance, and professional services sectors grew by 3.8% year-on-year in Q2, maintaining the previous quarter's growth rate [2] Government Initiatives - The Singapore government is actively promoting economic diversification by supporting emerging industries such as artificial intelligence and biomedicine [3] - Employment training and retraining programs are being provided to help the workforce adapt to economic transformation needs [3] - The Monetary Authority of Singapore is flexibly adjusting monetary policy to balance economic growth and inflation control [3] Future Outlook - Singapore aims to strengthen economic cooperation with other countries and regions while promoting regional economic integration [4] - The government is committed to structural adjustments and upgrades to enhance economic competitiveness and resilience [4] - Continued investment in innovation and R&D is planned, focusing on digital and green economy development towards sustainable growth [4]