Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82
太荒初境官网,提升编程能力,轻松应对复杂项目!
随机图片

太荒初境官网,提升编程能力,轻松应对复杂项目!

更新时间: 浏览次数: 123

400电话:123456(点击咨询)
太荒初境官网,提升编程能力,轻松应对复杂项目!各观看免费《今日汇总》
太荒初境官网,提升编程能力,轻松应对复杂项目!各热线观看免费2025已更新(2025已更新)








太荒初境官网,提升编程能力,轻松应对复杂项目!观看免费电话:(1)123456(点击咨询)(2)123456(点击咨询)








太荒初境官网,提升编程能力,轻松应对复杂项目!观看免费热线(1)123456(点击咨询)(2)123456(点击咨询)




太荒初境官网,提升编程能力,轻松应对复杂项目!各区点热线观看免费《今日发布》
Random Image 太荒初境官网,提升编程能力,轻松应对复杂项目!电话








7天观看免费人工电话为您、太荒初境官网,提升编程能力,轻松应对复杂项目!团队在调度中心的统筹调配下,线下专业及各地区人员团队等专属,整个报修流程规范有序,后期同步跟踪查询公开透明。








所有团队均经过专业培训、持证上岗,所用产品配件均为原厂直供,








太荒初境官网,提升编程能力,轻松应对复杂项目!各观看免费《今日汇总》2025已更新(今日/推荐)








太荒初境官网,提升编程能力,轻松应对复杂项目!电话区域:








贵阳市(观山湖区、清镇市、开阳县、修文县、花溪区、乌当区、息烽县、白云区、南明区、云岩区)








莆田市(涵江区、秀屿区、仙游县、城厢区、荔城区)








延边朝鲜族自治州(汪清县、龙井市、延吉市、敦化市、珲春市、安图县、和龙市、图们市)








大同市(广灵县、灵丘县、阳高县、天镇县、左云县、平城区、浑源县、云州区、云冈区、新荣区)  北京市(东城区、延庆区、大兴区、平谷区、丰台区、顺义区、石景山区、怀柔区、通州区、海淀区、房山区、密云区、门头沟区、昌平区、朝阳区、西城区)








泰安市(宁阳县、肥城市、泰山区、新泰市、东平县、岱岳区)








廊坊市(文安县、永清县、大厂回族自治县、霸州市、大城县、香河县、广阳区、三河市、安次区、固安县)








延安市(宜川县、安塞区、志丹县、甘泉县、吴起县、子长市、延长县、延川县、黄龙县、宝塔区、富县、洛川县、黄陵县)衡阳市(石鼓区、祁东县、常宁市、衡东县、衡山县、衡南县、珠晖区、南岳区、蒸湘区、耒阳市、衡阳县、雁峰区)








黄石市(黄石港区、下陆区、铁山区、西塞山区、大冶市、阳新县)  珠海市(香洲区、斗门区、金湾区)








塔城地区(乌苏市、额敏县、塔城市、裕民县、沙湾市、托里县、和布克赛尔蒙古自治县)








吕梁市(兴县、柳林县、临县、文水县、岚县、交口县、孝义市、交城县、中阳县、离石区、石楼县、汾阳市、方山县)








自贡市(自流井区、大安区、贡井区、荣县、富顺县、沿滩区)








威海市(乳山市、荣成市、环翠区、文登区)








安庆市(太湖县、望江县、宜秀区、大观区、怀宁县、潜山市、宿松县、迎江区、桐城市、岳西县)








临夏回族自治州(广河县、康乐县、和政县、永靖县、临夏县、积石山保安族东乡族撒拉族自治县、东乡族自治县、临夏市)








淄博市(张店区、博山区、桓台县、高青县、淄川区、周村区、沂源县、临淄区)








桂林市(永福县、七星区、荔浦市、灌阳县、恭城瑶族自治县、叠彩区、临桂区、象山区、秀峰区、雁山区、资源县、灵川县、阳朔县、兴安县、全州县、龙胜各族自治县、平乐县)








运城市(平陆县、万荣县、新绛县、芮城县、绛县、盐湖区、永济市、临猗县、河津市、稷山县、闻喜县、夏县、垣曲县)








黄山市(黟县、休宁县、黄山区、屯溪区、祁门县、歙县、徽州区)








成都市(彭州市、大邑县、郫都区、崇州市、双流区、金牛区、温江区、青白江区、新津区、龙泉驿区、简阳市、邛崃市、青羊区、蒲江县、都江堰市、新都区、武侯区、成华区、金堂县、锦江区)








喀什地区(莎车县、塔什库尔干塔吉克自治县、岳普湖县、伽师县、巴楚县、泽普县、疏勒县、喀什市、麦盖提县、疏附县、叶城县、英吉沙县)








中山市








绍兴市(越城区、嵊州市、新昌县、上虞区、诸暨市、柯桥区)








广安市(广安区、华蓥市、岳池县、武胜县、邻水县、前锋区)








遵义市(凤冈县、赤水市、务川仡佬族苗族自治县、汇川区、正安县、习水县、绥阳县、仁怀市、桐梓县、湄潭县、播州区、道真仡佬族苗族自治县、余庆县、红花岗区)








鹤壁市(鹤山区、淇滨区、淇县、山城区、浚县)








扬州市(广陵区、江都区、仪征市、宝应县、邗江区、高邮市)








阿坝藏族羌族自治州(汶川县、九寨沟县、马尔康市、小金县、壤塘县、茂县、黑水县、阿坝县、若尔盖县、红原县、金川县、理县、松潘县)
400电话:123456(点击咨询)
太荒初境官网,提升编程能力,轻松应对复杂项目!各观看免费《今日汇总》《今日发布》
太荒初境官网,提升编程能力,轻松应对复杂项目!各观看免费《今日汇总》(2025已更新)








太荒初境官网,提升编程能力,轻松应对复杂项目!观看免费电话:(1)123456(点击咨询)(2)123456(点击咨询)








太荒初境官网,提升编程能力,轻松应对复杂项目!观看免费热线(1)123456(点击咨询)(2)123456(点击咨询)




太荒初境官网,提升编程能力,轻松应对复杂项目!各观看免费《今日汇总》【2025已更新列表】
太荒初境官网,提升编程能力,轻松应对复杂项目!电话








7天观看免费人工电话为您、太荒初境官网,提升编程能力,轻松应对复杂项目!团队在调度中心的统筹调配下,线下专业及各地区人员团队等专属,整个报修流程规范有序,后期同步跟踪查询公开透明。








所有团队均经过专业培训、持证上岗,所用产品配件均为原厂直供,








太荒初境官网,提升编程能力,轻松应对复杂项目!中心2025已更新(今日/推荐)








太荒初境官网,提升编程能力,轻松应对复杂项目!电话区域:








太原市(迎泽区、杏花岭区、阳曲县、娄烦县、小店区、晋源区、万柏林区、尖草坪区、清徐县、古交市)








咸宁市(通城县、赤壁市、通山县、崇阳县、咸安区、嘉鱼县)








通辽市(霍林郭勒市、奈曼旗、科尔沁左翼后旗、开鲁县、库伦旗、科尔沁区、扎鲁特旗、科尔沁左翼中旗)








哈尔滨市(方正县、尚志市、平房区、道里区、五常市、呼兰区、延寿县、道外区、南岗区、香坊区、依兰县、通河县、宾县、双城区、木兰县、阿城区、巴彦县、松北区)  松原市(扶余市、乾安县、宁江区、长岭县、前郭尔罗斯蒙古族自治县)








哈密市(伊州区、伊吾县、巴里坤哈萨克自治县)








蚌埠市(五河县、固镇县、淮上区、龙子湖区、禹会区、蚌山区、怀远县)








阜阳市(颍上县、颍东区、颍州区、阜南县、临泉县、颍泉区、太和县、界首市)三明市(泰宁县、宁化县、沙县区、清流县、永安市、尤溪县、将乐县、三元区、明溪县、大田县、建宁县)








新余市(渝水区、分宜县)  南昌市(东湖区、进贤县、安义县、青山湖区、红谷滩区、西湖区、青云谱区、南昌县、新建区)








临汾市(尧都区、浮山县、侯马市、翼城县、乡宁县、吉县、大宁县、襄汾县、蒲县、古县、安泽县、曲沃县、霍州市、洪洞县、永和县、隰县、汾西县)








赣州市(崇义县、赣县区、宁都县、章贡区、安远县、会昌县、定南县、于都县、全南县、上犹县、南康区、龙南市、寻乌县、信丰县、兴国县、大余县、瑞金市、石城县)








阳泉市(矿区、城区、平定县、盂县、郊区)泸州市(泸县、合江县、古蔺县、江阳区、叙永县、龙马潭区、纳溪区)








临沂市(费县、罗庄区、平邑县、沂南县、临沭县、沂水县、莒南县、蒙阴县、兰陵县、兰山区、河东区、郯城县)








营口市(大石桥市、鲅鱼圈区、老边区、西市区、站前区、盖州市)








怒江傈僳族自治州(兰坪白族普米族自治县、泸水市、福贡县、贡山独龙族怒族自治县)








牡丹江市(阳明区、海林市、东安区、绥芬河市、宁安市、爱民区、东宁市、西安区、林口县、穆棱市)








日照市(岚山区、五莲县、莒县、东港区)








衡水市(安平县、武强县、桃城区、枣强县、阜城县、景县、武邑县、故城县、饶阳县、冀州区、深州市)








南充市(仪陇县、蓬安县、顺庆区、营山县、阆中市、高坪区、嘉陵区、南部县、西充县)








宁德市(屏南县、福安市、蕉城区、柘荣县、霞浦县、福鼎市、周宁县、寿宁县、古田县)








揭阳市(榕城区、惠来县、普宁市、揭西县、揭东区)








舟山市(岱山县、普陀区、定海区、嵊泗县)








济源市








菏泽市(鄄城县、牡丹区、东明县、定陶区、巨野县、曹县、单县、郓城县、成武县)








黔南布依族苗族自治州(长顺县、都匀市、荔波县、龙里县、福泉市、惠水县、罗甸县、三都水族自治县、独山县、贵定县、平塘县、瓮安县)








郴州市(嘉禾县、宜章县、资兴市、永兴县、桂东县、汝城县、苏仙区、安仁县、北湖区、临武县、桂阳县)








内蒙古自治区








芜湖市(繁昌区、南陵县、弋江区、鸠江区、镜湖区、无为市、湾沚区)

  ■ 刘 琪

  海棠铺绣,春日正盛。中国人民银行日前公布的3月份的金融数据,也透出了浓浓暖意。

  3月份,人民币贷款增加约3.64万亿元,同比多增0.55万亿元。其中,企业贷款新增28400亿元,同比多增5000亿元;住户贷款增加9853亿元,同比多增447亿元。这些跃动的数字,是微观主体活力上升的生动写照,更是中国经济运行态势向好的有力注脚。

  企业贷款的强势表现是3月份金融数据的一大亮点。尤其是短期贷款增加1.44万亿元,同比增长4600亿元,成为企业贷款的主要支撑项,这表明企业的生产经营活动正在加快恢复,融资需求也在稳步回升。尽管企业中长期贷款同比少增200亿元,但考虑到地方债务置换等因素的影响,企业信贷的整体表现依然强劲。

  与此同时,居民贷款的回暖同样令人瞩目。住户中长期贷款增加5047亿元,同比多增531亿元,与重点房地产市场的“小阳春”形成呼应。3月份,30个重点城市二手房成交面积整体同比增长20%以上,成交回暖带动个人住房贷款投放增多。提前还款的情况在降低存量房贷利率后有较大缓解,也对居民中长期贷款增长产生了积极影响。此外,在大力提振消费和强化金融支持下,消费贷款增势向好,进一步支撑了居民贷款的增长。

  信贷向好的背后,离不开政策的春风化雨。去年四季度以来,一系列宏观政策发力,有效扭转社会预期。今年开年,积极的财政政策靠前发力,政府债券发行和财政支出节奏明显加快,重大项目建设也在加速落地。适度宽松的货币政策持续发力,3月份企业新发放贷款(本外币)加权平均利率约为3.3%,个人住房新发放贷款(本外币)加权平均利率约为3.1%,均处于较低水平。多项宏观政策协同发力,共同推动了信贷需求的回升。

  3月末M1增速上行进一步表明了市场信心在逐步增强,经济内生动力在不断积聚。尽管全球经济环境仍存在不确定性,但我国经济的韧性和潜力不容低估。最新公布的一季度经济数据显示,中国国内生产总值达318758亿元,同比增长5.4%。这一速度在全球主要经济体中名列前茅,充分彰显了中国经济的强大韧性与底气。

  我国超大规模内需市场回旋余地大且富有活力,完整的产业链和强大的制造业基础使我国在全球供应链中占据关键地位,持续的科技创新和产业升级也为经济注入源源不绝的增长动力。同时,我国宏观政策工具箱储备充足,能够有效应对外部环境的不确定性变化,为经济稳定增长提供有力保障。

  眼下,春季里的最后一个节气谷雨将至。谷雨取自“雨生百谷”之意,生动概括了雨水对农作物生长的关键作用。雨水之于农作物,也恰如金融活水之于实体经济。可以预见的是,随着各项政策进一步落地显效,金融活水将更好润泽实体经济发展。我们也有理由相信,未来中国经济的内生动力还将不断增强,并为世界经济增长注入更多中国动能。

  2024年9月,证监会发布《关于深化上市公司并购重组市场改革的意见》(简称“并购六条”),随后,北京、上海、广东、四川等多地相继出台了支持企业并购的相关文件或政策举措。其中,上海、深圳、安徽等地更是单独发文支持企业并购重组。在中央与地方政策的共振下,并购重组正处在政策红利期和窗口期。

  据Wind数据统计,2025年一季度,中国并购市场(包含中国企业跨境并购)共披露1647起并购事件,同比上升0.98%;交易规模约7779亿元,同比上升约115.30%,市场活跃度显著提升。从各参与方的并购目的分布来看,横向整合类的并购事件以456亿元规模占到总体交易规模的6.78%,战略合作和资产调整分别以439亿元和116亿元占到总体交易规模的6.52%和1.73%。

  不过,澎湃新闻注意到,相较于并购交易规模,并购基金参与度并不高。研究数据显示,今年一季度共计66支私募基金以并购的方式成功退出,回笼金额虽然同比有增长,但规模仅有262.77亿元。

  近日,在盐城产融生态对接会上,多位业内人士,围绕着并购基金的“出路”进行了探讨。国新证券并购重组部负责人彭德强建议,并购基金围绕上市公司进行突破。可以地方产业龙头上市公司为核心,联合其大股东、社会资本及政府资本共同设立并购基金,围绕该上市公司产业链上下游实施纵向整合与横向拓展进行布局,另外,并购基金通过主动收购上市公司构建退出通道。

  “并购六条明确允许私募基金以产业整合为目的收购上市公司,这其实为下一步并购基金的发展提供了非常好的思路。如果并购基金旗下有1~2个上市公司平台,就可以为下一步退出打下基础。”彭德强说道。

  并购基金出资人多数以地方政府为主,以招引为契机进行收购交易。中泰资本董事总经理章程从机制方面给出了诸多建议,比如尽量减少自守正出奇的战略,更多是在收购的前提下纲举目张,以地方产业政策为前提,寻找当地的链主企业。“如果收购主体是以国企为背景的并购基金,还是希望给管理层多一些激励。”

  章程还强调,未来在关键时间点上,还要对并购逻辑出发点的要素驱动测试。比如,不同时间点上基本面有没有发生变化,收购标的的增长逻辑是否发生了变化。“我们经手的多个案例,上市公司对商誉给予了非常高的关注度。商誉摊销的会计处理方法上,中国是不再进行商誉摊销,而是每年进行减值测试。”“只要估值逻辑中间发生变化,那么上市公司就要对商誉值进行调整。这部分变动会成为营业外支出,会对当期利润产生影响。”

  那么,政府参与的并购基金,着力点有哪些?

  “政府引导型的并购基金应该重点聚焦在面临产业升级的传统产业上。他们向战略性新兴产业转型过程中,有内在的整合逻辑。”彭德强表示,存量市场机会更大。

  中平资本创始合伙人黄正红总也认为,产业转型升级是并购重组永恒的主题,产业整合需求迫切、强链补链行业也存在机会。

  毅达资本合伙人刘峰总结了三点,即“全、新、强”。全,是指全产业链,上下游打通;新,则是指传统产业转型新兴;强是指提升公司质量,做大做强。刘峰以江苏盐城举例称,盐城市新能源产业比较优势明显,可以围绕新能源细分产业,通过并购重组盘活存量,将新能源产业做大做强。

MACD金叉信号形成,这些股涨势不错!新闻结尾 太荒初境官网,提升编程能力,轻松应对复杂项目!的相关文章
贝壳高管数亿元薪酬是怎么来的
以仍不排除袭击伊朗核设施的可能性
4月20日3时56分谷雨
章若楠去了五月天演唱会
关税战会否助力印度制造
美最高法院紧急叫停特朗普政府行动
  • 友情链接:
  • 广西恒宸球员宁伟辰被禁赛3场 北京国安6-1战胜山东泰山 上海半马穿ADIZERO零系列再刷PB

    查看更多评价 ∨