Core Viewpoint - The "Passionate Zhejiang Summer Happy Consumption" action plan aims to leverage Zhejiang's unique resources to boost consumption in key sectors such as cultural tourism, sports events, night economy, dining services, and agricultural leisure, with a target of over 2000 promotional activities during the summer months of July and August [1] Group 1: Cultural and Tourism Initiatives - Launch of the "Colorful Summer, Fun in Zhejiang" cultural and tourism consumption season, featuring ten themed products and hundreds of family-friendly study travel routes [1] - Implementation of the "Travel with Transportation" initiative, offering various travel experiences including water routes and scenic self-driving tours [1] - Promotion of the "Follow the Movie to Taste Zhejiang" summer consumption season with provincial movie consumption vouchers and discounts for movie ticket holders [1] Group 2: Sports Consumption Upgrades - Hosting major international and domestic sports events such as the 2025 World Volleyball League and the National Athletics Championships, with accompanying "accommodation + cultural tourism" packages [7] - Launch of the "Follow the Events to Explore Zhejiang" initiative to promote sports events in scenic areas and commercial districts [8] - Encouragement of youth sports training and special summer discounts at public sports venues [9] Group 3: Night Economy Development - Initiation of the "Shop in China, Enjoy the Night Life in Zhejiang" consumption season, promoting various night-time activities and creating over 100 unique night markets [11] - Encouragement for cultural, shopping, and entertainment venues to extend their summer operating hours and offer exclusive night-time discounts [12] Group 4: Dining and Retail Enhancements - Launch of initiatives to enhance dining experiences, including smart ordering and online payment systems, and special offers for students and teachers [13] - Promotion of new retail experiences through the establishment of pop-up stores and limited-time product launches in commercial areas [14][15] Group 5: Digital Consumption Activation - Introduction of summer e-commerce vouchers for local products, encouraging major e-commerce platforms to offer discounts and create themed shopping events [19] - Organization of the 2025 provincial live-streaming e-commerce competition to stimulate summer consumption [20] Group 6: Rural Consumption Revitalization - Organization of promotional activities for local specialties and agricultural tourism, aiming to attract over 25 million visitors to rural leisure activities [21] - Exploration of integrated operation models combining events, festivals, and markets to enhance rural experiences [22]

深圳消费品"以旧换新"加力扩围显成效。7月1日，深圳市商务局相关负责人做客广播节目时透露，今年 以来至6月底，深圳消费品"以旧换新'"已惠及超1100万人次，带动汽车以旧换新7.8万台。 深圳商报·读创客户端首席记者 刘琼 目前，"购在中国2025深圳之夏消费季"正在火热进行。该活动聚焦"AI消费+首发经济"，统筹各重点企 业和商圈举办"AI消费体验周"等特色主题活动，推动AI智能消费与国潮文化深度融合；以AI技术赋能 暑期消费场景，结合AI智能眼镜、AI语音翻译器等黑科技产品体验与商圈消费升级，打造"可玩、可 购、可感知"的沉浸式科技消费盛宴。 深圳通过多元的促消费活动，为各类消费场景提供了落地支撑，激发了消费潜力。据深圳市商务局透 露，2025年全年，深圳将举办系列促消费重点活动超1500场。 提振消费，深圳一直将其放在"重中之重"。深圳还大力发展"新型消费"，首发经济热火朝天、消费场景 丰富多元、服务消费扩容提质，深圳消费市场热力十足。今年3-5月，"2025深圳新型消费季"系列促消 费活动陆续登场。超450场精彩活动解锁深圳城市新玩法，创新多元化消费场景，进一步激发深圳消费 活力。 今年，深圳加力扩围 ...

布雷顿森林体系解体后，美元的储备货币系统由美元和美债共同构建。美元 执行交易媒介功能，美债执行价值储藏功能。随着美国赤字失控，后者已经 失去原有职能，被黄金取代。美债与黄金、美股等各类资产的估值脱钩。 这意味着，定价层面：1）美债将从溢价资产变为折价资产。美债过往收益 率长期低于合理估值（预期通胀＋预期经济增速）；未来，合理估值或将是 收益率的下限。2）黄金和美债总市值的走势长期一致，但前者长期低于后 者。未来，随着美债被黄金替代，黄金总市值应超越美债总市值。3）股债 风险溢价不再对股票估值有约束力。 目标价：我们认为 20Y 美债收益率的底线将是 4.35%，2025 年目标收益率 4.9%-5.2%，建议规避。同期，黄金目标价为 3500 美元/盎司；若黄金市值 追平美债，黄金价格将达到 4400 美元/盎司，建议持有。 美股长牛由货币驱动，逻辑不易打破... 证券研究报告 | 2025年07月01日 美股 2025 年中期策略 弱于大市 货币视角下的美元资产展望 美债失去价值储藏功能，黄金将取而代之 美股的长牛是货币现象：1）从资金流看，美国的长期经常账户逆差必然需 要资本账户顺差实现闭环，因此美股总是 ...

证券时报·数据宝统计，今日有10个行业主力资金净流入，21个行业主力资金净流出。资金净流入金额 最大的行业为国防军工，涨跌幅4.35%，整体换手率4.70%，成交量较前一个交易日变动13.64%，主力 资金净流量33.15亿元；今日资金净流出最大的行业为非银金融，涨跌幅-0.77%，整体换手率1.69%，成 交量较前一个交易日变动-35.15%，主力资金净流量-25.80亿元。（数据宝） 今日各行业主力资金流向一览 | 行业名 | 成交量（亿 | 成交量较昨日增减 | 换手率 | 涨跌幅 | 今日主力资金净流入（亿 | | --- | --- | --- | --- | --- | --- | | 称 | 股） | （%） | （%） | （%） | 元） | | 国防军 | 50.78 | 13.64 | 4.70 | 4.35 | 33.15 | | 工 | | | | | | | 传媒 | 46.05 | 20.53 | 3.15 | 2.82 | 14.41 | | 商贸零 售 | 27.82 | -10.79 | 2.30 | 1.23 | 9.37 | | 汽车 | 55.73 | -0.31 | ...

Market Overview - The A-share market continues to rebound with increased trading volume, and the Shanghai Composite Index reached a new high for the year at 3455.97, up by 1.04% [1][3] - The Shenzhen Component Index rose by 1.72% to 10393.72, while the ChiNext Index increased by 3.11% to 2128.39, indicating strong market performance across various indices [1][3] Sector Performance - The top-performing sectors include Non-bank Financials (up 4.46%), Defense and Military (up 3.36%), and Computers (up 2.99%) [2] - Conversely, the worst-performing sectors were Coal (down 1.00%), Oil and Petrochemicals (down 0.57%), and Transportation (down 0.21%) [2] Concept Index Performance - Leading concept indices included Internet Insurance (up 4.17%), Futures Concept (up 4.12%), and Domestic Aircraft Carriers (up 3.92%) [2] - The lagging concept indices were Combustible Ice (down 1.25%), Glyphosate (down 0.78%), and Russia-Ukraine Conflict Concept (down 0.69%) [2] Future Outlook - The market is expected to maintain its upward trend, supported by strong performance in the financial sector and a favorable macroeconomic environment [4] - The total trading volume in the Shanghai and Shenzhen markets reached 1.6 trillion yuan, an increase of 188.2 billion yuan from the previous trading day, indicating heightened investor activity [4] - Analysts suggest focusing on sectors such as finance, machinery, consumer goods, and TMT (Technology, Media, and Telecommunications) for potential investment opportunities [4]

Economic Overview - Hubei province's economy shows a stable and improving trend in the first five months of the year, with industrial production growing steadily, fixed asset investment expanding, and a vibrant consumer market [1][2] - The province's GDP growth is supported by high-quality development outcomes [1] Industrial Growth - The industrial added value above designated size in Hubei increased by 8.1% year-on-year, surpassing the national average by 1.8 percentage points [2] - High-tech manufacturing leads the growth with an added value increase of 17.4%, contributing 31.3% to the overall industrial growth [2] - Specific sectors such as computer, communication, and other electronic equipment manufacturing grew by 17.7%, while electrical machinery and equipment manufacturing rose by 20.0% [2] Investment Trends - Fixed asset investment in Hubei grew by 6.2% year-on-year, exceeding the national growth rate by 2.5 percentage points [2] - Manufacturing investment surged by 12.6%, while infrastructure investment increased by 2.2% [3] - Private investment grew by 6.9%, and when excluding real estate development, it increased by 11.3% [3] Consumer Market Dynamics - The total retail sales of consumer goods reached 10,798.75 billion yuan, with a year-on-year growth of 7.7%, outpacing the national average by 2.7 percentage points [4] - The "trade-in" policy has stimulated consumption, with retail sales of household appliances and audio-visual equipment rising by 32.8% and furniture by 37.5% [4] - Online retail sales grew by 26.8%, indicating a robust shift towards e-commerce [4] Foreign Trade Performance - Hubei's total import and export value reached 328.74 billion yuan, a year-on-year increase of 26.9%, significantly higher than the national average of 24.4% [4] - Exports amounted to 238.37 billion yuan, growing by 36.3%, while imports increased by 7.4% to 90.37 billion yuan [4] Fiscal and Financial Stability - Local general public budget revenue for the first five months was 189.31 billion yuan, reflecting a year-on-year growth of 7.0% [5] - Financial institutions in Hubei reported a total deposit balance of 9,883.30 billion yuan, a growth of 9.9% compared to the beginning of the year [5]

近日，《广州市提振消费专项行动实施方案（征求意见稿）》（以下简称"征求意见稿"）公开征求意 见。 征求意见稿提出，有序减少消费限制。 优化房地产政策，全面取消限购、限售、限价，降低贷款首 付比例和利率。 更好满足住房消费需求。扎实推进城中村及老旧小区改造，2025年计划推进新开工 老旧小区改造超150个，更新住宅老旧电梯超9000台，完成城中村改造固定资产投资1000亿元。推 进利用专项借款购买存量商品房作为安置房。持续优化住房公积金使用政策，支持缴存人在提取住房 公积金支付购房首付款的同时申请住房公积金个人住房贷款，进一步优化租房提取政策措施。 征求意见稿要求，大力发展体育消费。全力抓好十五运会和残特奥会广州赛区筹办工作，高水平办好 世界田联接力赛、广州马拉松赛等重大赛事。开展体育嘉年华、体育消费季、全民健身活动等体育促 消费活动，推动体育比赛进景区、进街区、进商圈。支持花都融创等冰雪场馆提质升级，加快推进香 港马会从化马场建设和运营，推动冰雪运动和赛马运动消费发展。 征求意见稿称，创新发展银发经济。积极推动实施居家适老化改造"焕新"活动，推广便捷可及的居家 社区养老服务，激发养老服务消费。大力开展"银龄行 ...

在淄博， 不管是吃烧烤还是日常消费， 遇到烦心事儿想投诉举报咋办？ 别担心！ 咱淄博给基层市场监管所"立规矩"了！ 《市场监管所投诉举报快速处理规范》这个团体标准，正式在全市实施啦！这部由张店区市场监管局公园所具体"操刀"、凝聚基层经验的新标准，目的就 一个：让大家维权更快、更顺、更满意！ 痛点得解决 以前处理起来，各地标准不太一样、快慢也不统一，有时回复简单随意，甚至同一个问题处理结果不同，容易让群众不满意，还可能引来重复投诉或 者"民告官"。 为啥"立规矩"？ 群众有期待 大家盼着市场监管部门办事更快、服务更好。这次就是在原有"2135"（2小时分派、1天响应、3天反馈、5天办结）快速机制上，再提速、再规范，真正 把"以人民为中心"落到实处。 看这三点就明白！ 投诉量多压力大 基层所扛起了全市75%以上的投诉举报处理任务。光张店区，作为中心城区和"淄博烧烤"主战场，投诉量连年看涨：2022年2.7万件，2023年冲到3.6万 件，2024年也有3.5万件！ 接到投诉举报，马上行动，绝不拖延！ 办事要规范 流程怎么走？多久办完？怎么跟您沟通？文书怎么写？这些统统定好"硬杠杠"，避免随意性。 结果要闭环 处理 ...

此外，本届上交会还设置技术交易服务和技术交易促进活动2个功能区域，总展出面积为3.5万平方米， 汇聚了来自全球近20个国家和地区及国内近20个省区市的创新成果。英国格拉斯哥市担任境外主宾城， 深圳市担任境内主宾城。展会期间将举办1场开幕式、3场主题日活动和近60场配套活动。 自2013年首次举办以来，上交会在推动技术进口来源多元化、支持成熟的产业化技术出口、拓展国际技 术合作网络等方面发挥了重要作用。数据显示，上交会累计吸引来自30多个国家和地区超9500家企业参 展，近两届意向成交项目数均超500项。 上海市商务委主任朱民表示，本届上交会技术特色更突出，将展示一批长三角共性技术研发和关键领域 核心技术突破的成果。粤港澳大湾区将展示交互型机器人、基因检测设备等领域的创新成果。首次设立 的智能海洋工程与装备展区，彰显上海优势产业特色与领先性。本届上交会首次设立消费与商业科技展 区。另外，展会还将推出一批生产性互联网服务平台、绿色航贸数链等领域工作成果。 据统计，本届上交会共有高新技术企业、专精特新企业、瞪羚企业180家。朱民表示，战略性新兴产业 方面，本届上交会将全面展示"AI+"跨行业解决方案，如人工智能多模 ...

普徕仕环球精选股票策略基金经理Peter Bates表示，虽然"美国例外论"近期受到挑战，但仍最为看好美 股。美国股市凭借其自由市场结构、流动性、健全的金融监管和透明度而脱颖而出，加上完善的教育和 司法体系，这些基础维护创新，使优秀的创意能获得专利保护并发展为蓬勃的业务。即使经历政治变迁 (包括特朗普时期的政策)，这些优势依然稳固。短期估值溢价或会波动，但从结构性角度来看，其他已 发展经济体在未来数年内难以超越美国。 Peter Bates指出，目前，已发展市场表现良好，银行资本充裕且稳健，信贷环境稳定，大多数地区接近 充分就业，支撑强劲的消费开支。标普500指数约九成的企业已公布第一季业绩，平均收入和每股盈利 增长分别达5%和14%，远超市场预期的7%每股盈利增长。第二季的初期数据(包括信用卡消费和失业救 济申请数据)亦维持稳健。 然而，市场具有前瞻性，而政策决定(如关税和税收)会随时间影响经济。关键问题在于这些政策，包括 其他全球领袖的反应，是否会打断当前的经济增长势头。虽然关税等干扰因素已经存在，但整体而言， 已发展经济体应该保持韧性。重大市场危机通常源于金融体系不稳定，而目前我们并未见到这种情况。 主 ...