然而，缓冲终有尽头。业内人士认为，全球趋势不可逆，开发者呼声不可忽视，生态竞争不可回避。中 国未来的路径，注定不会照搬西方，也不会固守现状，而是在动态平衡中寻找"第三条道路"——一条既 能维护国家数字主权，又能激发市场活力，更能保障开发者与用户权益的道路。 转自：中国经营报 观察 "苹果税"之争，早已超越30%还是15%的数字本身。它是一面棱镜，折射出数字时代的核心命题：在一 个由超级平台"通吃"的行业空间里，如何平衡创新激励与公平竞争？ 如何不让商业规则沦为垄断工 具？ 以及如何在平台垄断、创新激励、消费者权益和国家安全之间寻求平衡？ 苹果税的由来，根植于其"软硬一体、封闭可控"的先天优势和生态哲学。这一模式曾大大推动移动互联 网繁荣，但当平台成为事实上的"数字守门人"，其收费权便不再只是商业合同，而关乎千万开发者的生 计与亿万用户的权益。 从历史维度看，苹果税的争议是数字经济从"野蛮生长"走向"规范发展"的必经阶段。早期，苹果通过封 闭生态保证了用户体验和安全，吸引了开发者和用户；如今，这套模式因可能抑制竞争和创新，而面临 全球性质疑。 从全球视野看，各国监管策略反映了不同的价值取向：欧盟强调"公平竞争优 ...

中国苹果税最高 日前，苹果官网正式宣布，为遵守日本相关法律，已在日本市场下调"苹果税"，也就是开发者通过应用内外链，引导用户使用第三方支付 时，苹果收取的佣金。 具体来看，开发者若在应用内采用PayPay、LINE 等日本本地支付工具，对应的佣金比例会降至10%-21%。如果引导用户跳出App，到外部 网站完成交易，佣金会进一步降到 10%-15%，降幅超过50%。 另外，苹果还允许日本用户通过网页、第三方应用商店下载并安装应用。 | 国别 | 是否允许应用外 第三方支付 | 苹果规费率 (税率为点击应用内外键前往应 11日1日 - | 17 32 451 1 | 是否开放侧载 是否允许第三方应用商店和 | | --- | --- | --- | --- | --- | | | | 标准企业 | 六分届11 | 网页下载APP) | | | | 首年12% 次年10% | 10% | | | | | | | 是,甚至允许开发者 在APP内通过链接、 | | | | 0% | 0% | 按钮、弹窗等方式引 导用户去外部交易 | | | | 27% | 12% | | | 中国 | | 26% | 11% | | ...

前几天，有媒体报道称，在日本，"苹果税"（佣金）也降了，App内购调整至10-21%，同时放开了侧 载，也就是允许第三方应用市场，且对第三方应用市场的App仅收5%的核心技术费，还允许第三方支 付。 至此，可以说全球主要国家和地区，苹果税都进行了调整，就只有中国最高了。 如上图所示，这是某媒体整理的数据，我也不知道正确不正确，大家可以自行去搜索求证一下，特别是 其中美国均为0%，我觉得不可能，因为我查到的数据，美国是标准企业27%、小型企业12%，而不是都 是0%。 从上表可以看到，欧盟、美国、俄罗斯、韩国、日本都调低了，并且允许应用外第三方支付，开放侧 载，只有中国，一切都不行，交着最高30%、15%的佣金，享受着苹果"最尊贵"的服务，不能侧载，不 能使用第三方支付…… 另外，苹果在中国也没有经营实体，如果消费者想起诉苹果，往往需赴美国或爱尔兰，这个很麻烦，成 本也非常高。 目前，国内的消费者，更多的是向国家市场监管总局投诉，要求调查苹果的垄断行为，但进展也较为缓 慢。 但我想，当欧盟、日本都刚赢了苹果，连美国都对苹果进行了各种限制，在韩国、俄罗斯，苹果的佣金 也在调整后，中国没有理由不调整。 这已经不只是 ...

Group 1 - DJI expresses regret over the FCC's decision to include all non-U.S. manufactured drones in the "Covered List," stating it limits consumer choice and undermines fair competition [1] - DJI emphasizes its commitment to providing innovative tools for image creators and highlights the safety and reliability of its products, validated by independent third parties [1] - The company plans to evaluate all possible paths to protect its and its global users' legal rights [1] Group 2 - Zontai Auto denies rumors of collaboration with OPPO and Vivo for restructuring, stating there is currently no partnership [2] - Speculation arises regarding the involvement of OPPO and Vivo in Zontai's restructuring due to the new board composition, which includes members with ties to Chery Auto [2] Group 3 - Beijing issues the first L3 level autonomous driving vehicle license plates, marking a significant step towards mass production of autonomous vehicles in China [2] - The L3 autonomous driving feature is currently limited to specific highway segments in Beijing, with restrictions on other areas [2] Group 4 - Volvo Cars in China undergoes a leadership change with HUYANHANG replacing Yuan Xiaolin as chairman, but the company clarifies that this is a routine administrative change and does not affect daily operations [3] - Yuan Xiaolin remains a senior vice president at Volvo Group and president of Volvo Cars Asia Pacific [3] Group 5 - Kuaishou reports that its live streaming function was restored after a network attack on December 22, 2025, and other services were not affected [5] - The company has initiated legal actions against the perpetrators of the attack to protect its interests [5] Group 6 - Apple faces a fine of €98.635 million (approximately ¥817 million) from Italy for abusing market dominance through its App Tracking Transparency policy [11] - Cumulatively, Apple has incurred over ¥20.7 billion in fines across multiple European countries this year for similar reasons [11] Group 7 - JD.com confirms that its Paris warehouse has resumed normal operations following a theft incident involving over 50,000 electronic devices valued at approximately €37 million (around ¥306 million) [12] - The company disputes reports of significant losses, stating that the actual situation differs from what has been reported [12] Group 8 - Geely's management restructuring is complete following the merger with Zeekr, with key executives assigned to new roles [8] - Li Donghui is now the vice chairman of Geely Holding Group, while An Conghui serves as CEO, overseeing overall operations [8] Group 9 - ByteDance plans to invest significantly in AI, with a projected capital expenditure of ¥160 billion (approximately $23 billion) in 2026, including ¥85 billion reserved for semiconductor procurement [11] - The company aims to enhance its AI infrastructure and capabilities through this investment [11]

今年以来新成立股票型基金份额突破4000亿份 Wind数据显示，截至12月22日，今年以来已有1469只新基金成立（仅统计初始份额），发行数量创 2022年以来的新高，合计发行份额达11358.88亿份。股票型基金成为基金公司今年布局的重点，尤其是 被动指数类产品。2024年，债券型基金发行份额占比为70.19%，而今年这一数据大幅下降至41.21%； 股票型基金发行份额占比从21.14%显著上升至35.98%。值得注意的是，今年以来股票型基金新发规模 超过4000亿份，超越2021年创下的历史纪录。（中证金牛座） 深圳多家银行经营贷最低利率回升至2.35% 记者从深圳多家银行了解到，目前深圳市场房抵经营贷利率最低均已为2.35%（年化）起。此前部分银 行的房抵经营贷利率曾一度低至2.2%，但据记者了解，这些银行的定价也已回升至2.35%。一家银行相 关业务部门负责人表示，"目前年化2.35%为深圳经营贷最低利率水平"。上述人士进一步表示，此前行 业曾出现过利率更低情况，但已被叫停。（智通财经） 金饰克价首破1400元 国际金价延续连日来的涨势。受此带动，以人民币计价的黄金价格再创新高。12月23日，有品牌足 ...

金融市场犹如变幻莫测的海洋，时刻涌动着投资与经济政策的波澜，深刻影响着全球经济的走向。在 此，喜娜AI为您呈上昨夜今晨的财经热点新闻，全方位覆盖股市动态、经济数据、企业财务状况以及 政策更新等关键领域，助您精准洞察金融世界的风云变幻，把握市场脉搏。 中国神华千亿级并购落地，业务实力与盈利能力双提升 12月19日晚间，中国神华公布千亿规模并购草案，拟发行股份及支付现金购买国家能源集团等持有的12 家标的公司股权，交易价1335.98亿元。交易完成后，其煤炭保有资源量、可采储量和产量将大幅增 长，2024 - 2025年每股收益也将增厚。此次并购显著增强公司业务实力，提升资产质量与盈利能力。 详情>> 字节跳动利润有望达500亿美元，业务扩张与估值攀升并进 美东时间12月19日消息，字节跳动今年前三季度净利润约400亿美元，全年有望达500亿美元创纪录，营 收预计增长超20%。其盈利超越内部目标，接近Meta。字节跳动凭借电商和新市场扩张，尤其TikTok全 球发展及直播购物推进实现增长。近年公司营收增速超20%，估值因AI拓展不断攀升，众多投资者上调 其估值。 详情>> 三大银行收超亿元罚单，合规经营面临挑战 ...

当地时间12月18日，日本政府去年出台的《智能手机软件竞争促进法》正式生效，该法案直接将矛头指向苹果等国际科技巨头，点名要求其改正应用市场的 垄断现象。在法案正式生效的前一天，苹果公司已在官网发布新闻稿，宣布将更新在日本地区的应用商店条款，在开放第三方应用市场的同时也将"苹果 税"的抽佣比率降低至10%至21%。 所谓"苹果税"，是指当苹果用户通过苹果手机应用商店，付费下载应用或在应用内部购买数字商品或服务时，需先打款给苹果支付系统，苹果抽成10%-30% 后，再将剩下的款项转给开发者。多年以来，其高昂的抽成比率已让来自全球的应用开发商乃至个人消费者怨声载道，可谓"天下苦苹果税久矣" 。 2024年4月，日本国会正式通过《智能手机软件竞争促进法》，授权日本公平贸易委员会对具有垄断地位的软件提供商施加一系列禁止行为与合规义务，旨 在让消费者能够自主选择更低廉、便捷的服务，并提升使用体验。而该法案已指定苹果和谷歌两家国际巨头作为管制对象，禁止其采取排他性措施，例如阻 碍使用第三方的支付手段，或限制外部应用企业使用语音识别等OS功能。 在合规压力之下，苹果公司于12月17日正式宣布对日本市场的iOS系统进行调整，做 ...

2025 年 12 月 19 日星期五 美国 CPI 年率意外回落 特朗普签令 重申 2028 年登月目标 美国数据中心数量达 4213 座 日本美债持有规模升至 1.2 万亿美元，英国增持、中国减持 英国央行如期降息 25bp 欧央行按兵不动 中国 11 月青年失业率为 16.9% 商务部：已批准部分稀土出口通用许可申请 多晶硅产量 12 年来首次下降 苹果大幅降低日本"苹果税" Meta 被爆明年上半年发布新图像和视频 AI 模型 2 年期美债收益率跌 2.08 个基点报 3.460% 5 年期美债收益率跌 3.84 个基点报 3.662% 10 年期美债收益率跌 3.31 个基点报 4.120% 【实时热点】 【美国债市】 资料来源：BLOOMBERG、AASTOCKS、WIND、格隆汇、国元证券经纪（香港）整理 证 券 研 究 报 告 请务必阅读免责条款 1 【经济数据】 | 重要指数 | 收市价 | 涨跌(%) | 海外市场重要指数 | 收市价 | 涨跌(%) | | --- | --- | --- | --- | --- | --- | | 波罗的海干散货 | 2121.00 | -3.77 | ...

Group 1 - The core message of the news is the emphasis on the continuous deepening of comprehensive reforms in the capital market during the 15th Five-Year Plan period, focusing on enhancing quality and efficiency [2][39] - Experts suggest increasing the inclusiveness and adaptability of listing and trading systems to attract high-quality companies from new productive sectors [2][39] - There is a call to expand patient capital, long-term capital, and strategic capital supply, while also promoting active mergers and acquisitions and strict delisting norms [2][39] Group 2 - The A500 ETF has seen a significant surge in trading volume, with a record daily turnover exceeding 520 billion yuan on December 17, indicating strong investor interest [3][40] - The net inflow for A500 ETF on the same day surpassed 11 billion yuan, highlighting its status as a major capital attraction [3][40] Group 3 - Alibaba is shifting its investment focus towards the AI sector, with AI investments rising from 4% to 50% of its total investment portfolio since 2023 [4][41] - The company has made significant investments in embodied intelligence, as evidenced by its recent stake in Shanghai Qunchu Intelligent Technology Co., which increased its registered capital [4][41] Group 4 - The dollar index has dropped over 9% this year, closing at 98.3978 on December 17, reflecting a downward trend influenced by weak economic data and dovish signals from the Federal Reserve [5][42] - The dollar index has seen a cumulative decline of 1.72% from November 20 to December 17, indicating a shift in market expectations regarding interest rate cuts [5][42] Group 5 - The People's Bank of China has resumed 14-day reverse repos to ensure liquidity stability, conducting operations totaling 1.883 billion yuan on December 18 [6][43] - The central bank aims to maintain ample liquidity in the banking system to meet diverse funding needs of different institutions [6][43] Group 6 - Electrolytic manganese prices have surged for 13 consecutive days, reaching a new high of 17,820 yuan per ton, with a total increase of over 2,300 yuan per ton in December [7][44][45] - The price increase represents a nearly 15% rise since the beginning of December, marking the highest level since May 2022 [7][45] Group 7 - The Trump administration has reaffirmed its goal of returning to the moon by 2028, with plans to establish a permanent lunar outpost by 2030 [8][46] - The initiative aims to stimulate private sector innovation and investment in space exploration and safety [8][46] Group 8 - The CPI's unexpected decline has boosted expectations for interest rate cuts, leading to a significant surge in U.S. stock markets, including a 38% spike in Trump Media Technology Group's stock [9][47] - The merger with TAE Technologies aims to create one of the first publicly listed fusion energy companies, with plans to build a utility-scale fusion power plant by 2026 [9][47] Group 9 - Haidilao plans to distribute a special dividend of 1.754 billion yuan, with a commitment to maintain a dividend payout ratio of no less than 80% over the next three years [14][51][52] - The company has a history of generous dividends, having previously distributed 1.519 billion yuan in cash dividends for the first half of 2025 [14][52] Group 10 - The Japanese government has restructured the "Apple tax," significantly reducing commission rates for various payment scenarios, allowing developers to integrate third-party payment systems [15][53] - This change is expected to enhance competition and reduce costs for developers operating within the Apple ecosystem [15][53]

Core Viewpoint - The article discusses the significant impact of the high "Android tax" imposed by domestic smartphone manufacturers on game developers, leading to a shift in distribution strategies towards more cost-effective platforms like short video and social media channels [1][3][10]. Group 1: Android Tax and Its Implications - The "Android tax" in China is notably high at 50%, which is criticized by game developers as the highest globally compared to Apple's and Google's 30% cut [1][5]. - Major game companies like NetEase, Tencent, and Alibaba are moving away from traditional app stores to avoid the high fees, opting for platforms like Douyin and WeChat for distribution [3][5][10]. Group 2: Changes in Distribution Strategies - The formation of the "Hardcore Alliance" by major smartphone manufacturers in 2014 has historically enforced the 50% cut, making it difficult for game developers to bypass this fee [7][8]. - The rise of short video and social media platforms has provided game developers with alternative, lower-cost distribution channels, allowing them to reach users directly without incurring the high fees [8][10]. Group 3: Future Outlook - The shift in distribution strategies is seen as a "burden reduction" for game developers, potentially leading to a more competitive environment for users, with lower prices and more promotional activities [12]. - Smartphone manufacturers may respond by adjusting their commission rates or enhancing services to attract game developers back to their platforms, indicating a potential evolution in the market dynamics [12].