海南加工增值内销免关税政策加快促进制造业发展和产业集聚 政策"三级跳"，四年免征关税超8亿元 海南日报全媒体记者 曹马志 当珠宝行业遇上海南自贸港，会碰撞出怎样的火花? 于一颗珍珠中，窥见更璀璨的未来——全国珍珠加工制造行业加工增值内销免关税政策第一单落 地，享惠企业海南京润珍珠科技股份有限公司进口一批海水珍珠，加工增值内销立减21%关税。 首单扩容，加工增值，频频上新。 "新"字早已写进政策加力扩围实施的每一个篇章。 在洋浦保税港区先行先试后，加工增值内销免关税政策享惠区域持续刷新，实现了从特定园区到重 点园区再到全岛铺开"三级跳"，享惠区域从一域最终变全域。该政策已实施4年多，内销货值累计超过 百亿元，共免征关税约8.1亿元，政策红利加速惠及千行百业。 新机遇：老字号有了新奔头 对企业来说，加工增值内销免关税政策意味着什么? "老字号，有了新奔头!"海南京润珍珠科技股份有限公司总经理王海说。该企业已扎根海南30年， 由名不见经传的小微企业，逐步发展成为全国珍珠加工零售行业的头部企业，年产值超过7亿元。 海水珍珠、彩色宝石、翡翠玉石、贵金属首饰……细分品类享惠持续扩容，海南珠宝行业发挥"政 策+产业"联动优 ...

Core Viewpoint - The article highlights the vibrant development of modern agriculture in Pingliang, Gansu, focusing on creating a model for high-quality agricultural production through various initiatives, including the integration of agriculture with culture and tourism, and the enhancement of specialty agricultural products [1][9]. Modern Agricultural Industry Park Construction - The Pingliang City has established the Jinghechuan 10,000-acre vegetable industry park, featuring 2,700 high-standard solar greenhouses and core facilities such as a logistics center and sorting center, achieving an annual sales revenue of 116 million yuan [3]. - The total vegetable planting area in Pingliang has reached 540,000 acres, with a production volume of 870,000 tons and an industry chain output value of 3.6 billion yuan [3]. Expansion of Advantageous Specialty Industries - The beef industry in Pingliang has implemented a standardized breeding plan, with a total of 1.05 million cattle raised, generating an industry chain output value of 18 billion yuan [4]. - The apple industry maintains 1.5 million acres of orchards, with an output of 2.54 million tons and an industry chain output value of 24 billion yuan [4]. Deep Processing of Specialty Agricultural Products - Pingliang has achieved a 65% processing conversion rate for agricultural products, focusing on the deep processing of beef, apples, and vegetables, with the establishment of 23 organic fertilizer production lines and 8 beef processing lines [6]. - The Gansu Ruihexiang Food Technology Co., Ltd. has reported a sales revenue of 5 million yuan in the first seven months of the year, showcasing the growth in the beef product processing sector [5]. Promotion of Agricultural and Cultural Tourism Integration - Pingliang is actively promoting the integration of agriculture and tourism, with initiatives that have created over 300 jobs and increased household income by 2,000 yuan or more [8]. - The city has developed 1 provincial-level rural tourism demonstration county and 17 provincial-level cultural tourism revitalization villages, indirectly supporting 58,000 jobs in rural tourism [9].

Economic Overview - Inner Mongolia's GDP for the first half of the year reached 1,207.76 billion yuan, with a year-on-year growth of 5.4% at constant prices [1] - The primary industry added value was 40.6 billion yuan, growing by 5.5% year-on-year; the secondary industry added value was 553.72 billion yuan, with a growth of 6.3%; the tertiary industry added value was 613.45 billion yuan, increasing by 4.6% [1] Agricultural Sector - Agricultural and pastoral production showed stable growth, with the added value of agriculture, forestry, animal husbandry, and fishery increasing by 5.5% year-on-year [1] - The production of pork, beef, mutton, and poultry reached 1.088 million tons, a year-on-year increase of 6.5%; milk production increased by 3.6% [1] Industrial Sector - The industrial sector maintained steady growth, with the added value of large-scale industries increasing by 7.1% year-on-year [2] - The new energy and related industries saw a significant increase in added value, growing by 18.8% year-on-year [2] Service Sector - The service sector's added value grew by 4.6% year-on-year, with large-scale service industry revenue increasing by 9.8% from January to May [3] - Measures were implemented to enhance service supply and innovation, contributing to the sector's sustained development [2] Investment and Consumption - Fixed asset investment (excluding rural households) increased by 14.8% year-on-year, with the primary industry investment growing by 47.2%, secondary industry by 15.3%, and tertiary industry by 9.1% [3] - Social retail sales totaled 250.81 billion yuan, reflecting a year-on-year growth of 7.7%, with urban retail sales increasing by 7.6% and rural retail sales by 8.5% [3] Income Growth - The per capita disposable income for residents reached 20,042 yuan, showing a nominal year-on-year growth of 5.2% [3]

Core Viewpoint - Run China International Holdings (00202) reported its annual results for 2024-2025, showing a revenue increase but continued net losses, indicating ongoing financial challenges despite some operational improvements [3]. Financial Performance - The company achieved a revenue of HKD 108 million, representing a year-on-year growth of 5.56% [3]. - The net profit attributable to shareholders was a loss of HKD 40.21 million, an improvement from a loss of HKD 320 million in the previous year [3]. - The net cash flow from operating activities was -HKD 38.94 million, compared to -HKD 31.31 million in the previous year [3]. - Basic earnings per share were -HKD 0.0055, with an average return on equity of -3.64% [3][20]. Valuation Metrics - As of July 28, the company's price-to-book ratio (TTM) was approximately 0.38 times, and the price-to-sales ratio (TTM) was about 3.78 times [3]. Revenue Composition - The revenue composition for the fiscal year included HKD 78.4 million from agricultural operations and HKD 29.7 million from property investment [16]. Cash Flow Analysis - The net cash flow from financing activities was HKD 136 million, an increase of HKD 201 million year-on-year [24]. - The net cash flow from investing activities was HKD 193 million, up from HKD 64 million in the previous year [24]. Asset and Liability Changes - The company reported a 100% decrease in assets classified as held for sale, with a 25.01 percentage point drop in their proportion of total assets [28]. - Cash and cash equivalents increased by 1154.59%, raising their proportion of total assets by 17.81 percentage points [28]. - Short-term borrowings increased by 67.22%, contributing to a 9.85 percentage point rise in their proportion of total assets [32]. Liquidity Ratios - The current ratio was reported at 0.89, and the quick ratio was at 0.87, indicating liquidity challenges [37].

Core Insights - The latest USDA drought report indicates that various major agricultural regions in the U.S. are experiencing drought conditions ranging from moderate (D1) to extreme (D3) as of July 15, 2025, significantly impacting grain, cash crops, and livestock [1] Grain Sector - Durum Wheat: 41% of the production area is under drought conditions, unchanged from the previous week, but up 35 percentage points year-on-year [3] - Spring Wheat: 36% of the production area is under drought conditions, an increase of 1 percentage point from the previous week and up 28 percentage points year-on-year [4] - Winter Wheat: 30% of the production area is under drought conditions, an increase of 4 percentage points from the previous week and up 6 percentage points year-on-year [5] - Corn: 9% of the production area is under drought conditions, a decrease of 3 percentage points from the previous week but up 4 percentage points year-on-year [6] - Soybeans: 7% of the production area is under drought conditions, a decrease of 2 percentage points from the previous week but up 2 percentage points year-on-year [7] - Barley: 59% of the production area is under drought conditions, unchanged from the previous week but up 33 percentage points year-on-year [8] - Sorghum: 7% of the production area is under drought conditions, unchanged from the previous week but down 14 percentage points year-on-year [9] - Rice: 1% of the production area is affected by drought, unchanged from the previous week and the same as last year [10] Cash Crop Sector - Cotton: 3% of the production area is under drought conditions, unchanged from the previous week but down 16 percentage points year-on-year [11] - Peanuts: 1% of the production area is under drought conditions, unchanged from the previous week and down 14 percentage points year-on-year [12] - Sunflowers: 8% of the production area is under drought conditions, unchanged from the previous week and up 5 percentage points year-on-year [13] - Sugarbeets: 39% of the production area is under drought conditions, unchanged from the previous week and up 36 percentage points year-on-year [14] - Sugarcane: 30% of the production area is under drought conditions, unchanged from the previous week and up 30 percentage points year-on-year [15] Livestock Sector - Hay: 18% of the production area is under drought conditions, a decrease of 1 percentage point from the previous week but up 2 percentage points year-on-year [16] - Alfalfa Hay: 30% of the production area is under drought conditions, a decrease of 1 percentage point from the previous week and up 13 percentage points year-on-year [17] - Cattle: 15% of the production area is under drought conditions, a decrease of 1 percentage point from the previous week and unchanged year-on-year [18] - Sheep: 29% of the production area is under drought conditions, unchanged from the previous week and up 9 percentage points year-on-year [18] - Milk Cows: 22% of the production area is under drought conditions, an increase of 1 percentage point from the previous week and up 10 percentage points year-on-year [19] - Hogs: 4% of the production area is under drought conditions, a decrease of 2 percentage points from the previous week and down 3 percentage points year-on-year [19]

Core Viewpoint - The article discusses the tax exemption policy for fresh meat and egg products in China, detailing the eligibility criteria and specific products that qualify for the exemption [6][9]. Group 1: Eligibility Criteria - Only taxpayers engaged in the wholesale and retail of agricultural products are eligible for the tax exemption [3]. - The exemption applies specifically to fresh meat and egg products listed in the regulations, including whole or cut fresh meat, refrigerated or frozen meat, and various types of eggs [6]. Group 2: Tax Exemption Conditions - The exemption is limited to the specified categories of fresh meat and eggs, which include pork, beef, lamb, chicken, duck, and goose, as well as their respective processed forms [6]. - Businesses must separately account for exempt meat and egg products versus taxable goods; failure to do so will disqualify them from the exemption [9]. Group 3: Compliance and Reporting - Businesses must adhere to five key compliance rules to maintain eligibility for the tax exemption, including proper accounting, avoiding sales of non-qualifying products, and ensuring accurate invoicing [9]. - The article provides guidance on how to fill out the VAT declaration form, emphasizing the need to report exempt sales accurately [10].

Core Insights - The latest USDA drought report indicates that significant drought conditions are affecting major agricultural regions in the U.S., with moderate to severe drought levels reported as of June 3, 2025 [1] Grain Sector - Durum Wheat: 41% of the production area is affected by drought, a decrease of 38 percentage points from the previous week but an increase of 36 percentage points from the same time last year [3] - Spring Wheat: 19% of the production area is affected by drought, down 10 percentage points from the previous week and up 16 percentage points from last year [4] - Winter Wheat: 12% of the production area is affected by drought, down 4 percentage points from the previous week and down 4 percentage points from last year [5] - Corn: 21% of the production area is affected by drought, a decrease of 2 percentage points from the previous week and an increase of 19 percentage points from last year [6] - Soybeans: 16% of the production area is affected by drought, down 1 percentage point from the previous week and up 15 percentage points from last year [7] - Barley: 24% of the production area is affected by drought, down 4 percentage points from the previous week and up 17 percentage points from last year [8] - Sorghum: 15% of the production area is affected by drought, down 7 percentage points from the previous week and down 30 percentage points from last year [9] - Rice: 2% of the production area is affected by drought, down 1 percentage point from the previous week and down 5 percentage points from last year [10] Economic Crops - Cotton: 6% of the production area is affected by drought, down 1 percentage point from the previous week and unchanged from last year [11] - Peanuts: 2% of the production area is affected by drought, unchanged from the previous week and last year [11] - Sunflowers: 8% of the production area is affected by drought, down 12 percentage points from the previous week and up 5 percentage points from last year [11] - Sugarbeets: 21% of the production area is affected by drought, unchanged from the previous week and up 21 percentage points from last year [11] - Sugarcane: 49% of the production area is affected by drought, unchanged from the previous week and down 1 percentage point from last year [11] Livestock and Feed - Hay: 19% of the production area is affected by drought, down 1 percentage point from the previous week and up 12 percentage points from last year [12] - Alfalfa Hay: 27% of the production area is affected by drought, down 3 percentage points from the previous week and up 17 percentage points from last year [12] - Cattle: 21% of the herd is located in drought-affected areas, down 2 percentage points from the previous week and up 11 percentage points from last year [12] - Sheep: 25% of the herd is located in drought-affected areas, down 1 percentage point from the previous week and up 17 percentage points from last year [12] - Milk Cows: 15% of the herd is located in drought-affected areas, down 3 percentage points from the previous week and up 10 percentage points from last year [12] Analysis and Outlook - The drought conditions are expected to significantly impact major crops like corn and soybeans, which are crucial for both domestic and global markets [15] - While cotton's economic impact is relatively minor, the drought could still affect related industries [15] - The drought's effects on livestock, particularly cattle and sheep, may lead to increased production costs in the livestock sector [15] - Other crops such as barley, sorghum, sugarbeets, and sugarcane are also experiencing drought impacts, which could disrupt global supply chains [16]

Group 1 - The SIAL International Food Exhibition opened in Shanghai on May 19, featuring over 5,000 exhibitors from 75 countries and regions [1][2] - The exhibition showcased 350,000 unique products from key production areas across Asia, Europe, the Americas, and Oceania, including high-quality meat, wine, and snacks [1] - Domestic exhibitors included innovative Chinese food and beverage companies such as Three Squirrels, Yanjinpuzi, and others, highlighting the transformation of China's food industry [1] Group 2 - Major domestic and international buyers attended the exhibition, including Tmall, JD.com, Meituan, Walmart, and various large retail groups from Russia and Singapore [2] - The theme of the exhibition was "Transforming to Inspire the Future of Food and Beverage," co-hosted by the French exhibition group, the China Commercial Federation, and Beijing Aibo SIAL Exhibition Co., Ltd [2]

Core Viewpoint - The Mexican Agriculture Minister announced stricter restrictions on the circulation of cattle from the southern region of the country to combat the spread of spiraling worms, but there are no plans to close the southern border [1] Group 1 - Stricter regulations will be implemented for cattle movement from southern Mexico to address health concerns related to spiraling worms [1] - The decision aims to enhance biosecurity measures without resorting to closing the southern border [1]