(来源:申万宏源融成)摘要2025年二季度,海外环境复杂多变,全球贸易关税冲突加剧,地缘政治风险再度抬头。与此同时,国内以人工智能为代表的新质生产力推动科技产业持续进步,内需板块则仍在磨底过程中,部分行业已逐步走出低谷、显现改善势头。尤其值得注意的是,代表中国全球竞争优势的制造业板块已初现复苏曙光。具体来看:1)先进制造基本面筑底过程中。板块25Q2板块资本开支累计同比已连续六个季度负增长,但...
Source Link(来源:申万宏源融成)摘要2025年二季度,海外环境复杂多变,全球贸易关税冲突加剧,地缘政治风险再度抬头。与此同时,国内以人工智能为代表的新质生产力推动科技产业持续进步,内需板块则仍在磨底过程中,部分行业已逐步走出低谷、显现改善势头。尤其值得注意的是,代表中国全球竞争优势的制造业板块已初现复苏曙光。具体来看:1)先进制造基本面筑底过程中。板块25Q2板块资本开支累计同比已连续六个季度负增长,但...
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