【本文系数据通用户提前专享】为让中国不错失下一个技术爆发周期，监管框架应如何搭建？

China launches first major sodium-ion battery energy storage station, White House kicks Chinese crypto miner off land near Air Force base

• Chinese fragrance brands like 观夏 (to summer) and 野兽派 (The Beast) are gaining popularity in Beijing's Sanlitun area, using marketing strategies similar to international brands. Despite the economic downturn, the fragrance market remains resilient, with domestic brands experiencing growth and receiving investments from major groups like L'ORÉAL and Estee Lauder.
• The fragrance industry is characterized by high emotional value over practical use, with products including perfumes and scented oils. Recent trends show a shift from "lipstick economy" during the pandemic to a "self-pleasure economy" post-pandemic, with increased consumer interest in fragrances as a form of personal enjoyment.
• Despite challenges such as intense competition and high marketing costs that eat into profits, Chinese fragrance brands are innovating by focusing on unique scents and cultural storytelling. The market sees potential for growth with increasing consumer acceptance of local brands and ongoing investment from both private equity and industry capital.

对资管机构和家庭及个人来讲，现金管理是刚需，永远都存在市场需求

全球ETF主要分布在美国和欧洲，中国ETF总规模占全球的比重与发达国家相比偏低，表明中国ETF市场后发优势明显，发展空间很大

在漫长的对抗通缩和加码QE过程中，可以清晰感受到日本央行实施QE的初衷，也是QE终极目的——尽可能降低利率从而撬动通胀回升

• The State Council of China has issued new guidelines, known as the "new 'National Nine Articles'", aimed at enhancing supervision and risk prevention to promote high-quality development in the capital market. This includes full-chain management from listing to delisting, increased regulation of market institutions, and strengthened oversight of algorithmic and high-frequency trading to ensure market fairness.
• To implement these guidelines, the China Securities Regulatory Commission (CSRC) has released several draft rules, and stock exchanges are revising their business rules, forming a "1+N+X" policy system. These measures address issues revealed by stock market fluctuations since August 2023 and aim to resolve long-standing contradictions in the capital market.
• The new regulations emphasize stricter IPO standards, including higher thresholds for profitability and revenue on main boards and growth boards, while also focusing on improving company quality through rigorous entry barriers. This approach is expected to impact the scale of equity financing in 2024 significantly, with projections suggesting a substantial decrease compared to 2023.

推动资本市场高质量发展，既要解决长期积累的深层矛盾，也要更尊重市场规律，真正把选择权交给市场

【本文系数据通用户提前专享】推动资本市场高质量发展，既要解决长期积累的深层矛盾，也要更尊重市场规律，真正把选择权交给市场

推荐：美国对中国造船、物流、海事业启动301调查 中方坚决反对；三部门：推动多种支付方式在商业领域推广应用；四川探索氢能源汽车通行优惠政策 氢能概念股走强；特斯拉上海储能超级工厂5月开工 2025年一季度实现量产

President Joe Biden called for higher tariffs on Chinese steel and aluminum as he sought to woo union workers ahead of November’s election

大宗上涨是商品属性的需求驱动还是金融属性的交易或配置驱动？是普涨行情还是结构型机会？

• Global gold prices have surged significantly over the past month, with Shanghai Gold Exchange's "Au99.99" spot price rising nearly 15% from 480 yuan/gram on March 1, 2024, to a peak of 568 yuan/gram by April 12, 2024. Similarly, international prices represented by LBMA's "London Gold" rose from $2044/ounce to a mid-session high of $2394/ounce on April 12, marking an increase of over 16%.
• The surge in gold prices has ignited both offline gold trading and financial market activities related to gold. During the Qingming holiday period, major offline markets in Beijing and Shenzhen saw heavy traffic and soaring jewelry prices, while futures trading volumes and ETFs linked to gold also experienced significant increases.
• Despite the strong performance of gold as an asset class, there are warnings about potential corrections due to its rapid price increase. Regulatory bodies have issued risk warnings following unusual market activities such as consecutive trading halts for certain ETFs. Additionally, global factors like higher-than-expected U.S. inflation rates have caused fluctuations in gold prices but haven't halted their upward trajectory.

近期黄金交易转向交易避险和储备属性；急涨一个多月后，未来走势更多受美联储货币政策走向、主要央行增持黄金储备势头等影响

【本文系数据通用户提前专享】近期黄金交易转向交易避险和储备属性；急涨一个多月后，未来走势更多受美联储货币政策走向、主要央行增持黄金储备势头等影响

按照法规，L2级辅助驾驶仍需驾驶员时刻准备接管，L3级则允许完全脱手。古惠南称，L3的实用价值远超L2

Fitch Ratings cut forecasts for the housing market, and now expects a 5%-10% fall in new home sales this year amid weaker home-buying demand

造车三年高额投入需要给内外部交代，又是小米All in一辆车的策略令其不容闪失