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  4月25日,国务院新闻办公室举行新闻发布会,介绍《中国打击侵权假冒工作年度报告(2024)》有关情况。会上,市场监管总局副局长白清元介绍,市场监管总局组织开展“特供酒”清源打链专项行动,共销毁“特供酒”13.2万瓶,包材9.2万件(套)。

  市场监管总局副局长白清元图据国新网

  白清元称,打击侵权假冒关乎人民群众的切身利益,是实现人民群众对美好生活向往的重要保障。市场监管总局紧紧围绕党中央、国务院决策部署,持续加强行政执法,努力提升打击侵权假冒能力和水平。

  一是加强制度建设。比如与国家知识产权局联合印发《商标行政执法证据规定》《市场监管领域知识产权案件案由规定(试行)》,与国家药监局联合印发《关于加强跨区域跨层级药品监管协同的指导意见》,修订出台《集贸市场计量监督管理办法》等,为加强监管执法提供坚实的制度保障。

  二是强化行政执法。2024年4月,市场监管总局印发了《“守护知识产权”专项执法行动实施方案(2024—2025年)》,在全国部署开展为期两年的专项行动,突出“守护品牌”和“守护地理标志促进乡村振兴”两个主题,强化全国“一盘棋”执法联动。

  三是深化重点治理。紧盯侵权假冒高发多发领域重拳出击,组织开展侵权假冒商品全国统一销毁行动,销毁侵权假冒服装鞋帽、食品药品、化妆品、烟酒和作弊电子秤、盗版出版物等200多个品种、3300吨货物、货值3.3亿元;组织开展“特供酒”清源打链专项行动,共销毁“特供酒”13.2万瓶,包材9.2万件(套)。

  白清元表示,打击侵权假冒、保护知识产权是一项系统工程,需要全社会共同参与。市场监管总局将进一步发挥市场监管综合执法优势,协同相关部门,严厉查处侵权假冒违法行为,以高水平保护护航高质量发展。

  红星新闻记者付垚

  4月25日消息,港股内房股突发跳水,融创中国跌超3%,建发国际集团跌超2%,新城发展、绿城中国、越秀地产跌超1%。早盘内房股一度全线上涨,融创中国曾涨超9%。

  国家统计局最新数据显示,1-3月房地产开发投资端指标仍处调整通道,但3月单月呈现明显改善迹象。具体来看,全国商品房销售面积同比降幅收窄4.2个百分点至-0.9%,新开工面积降幅环比收窄22.1个百分点至-24.4%。

  中信建投指出,核心城市土地市场维持高热,一二线城市宅地溢价率保持高位,房企在重点城市补货意愿增强,3月单月新开工规模较前两月均值提升72.7%。  

  近日花旗集团策略师呼吁投资者建仓中国房地产股票,因为政策支持和更好的管理实践有望提升该行业的盈利能力。花旗分析师GriffinChan和CindyLi在周三的报告中表示:“我们预计,未来两年将是布局中国房地产板块的好时机,随着资产周转和定价的改善,其股本回报率有望持续提升。”

  4月25日金融一线消息,中国人民银行运城市分行日前披露的行政处罚决定信息公示表显示,山西平陆农村商业银行股份有限公司因未按规定对高风险客户采取强化识别措施,被罚款25万元。

  郑某峰(时任山西平陆农村商业银行股份有限公司董事)、王某(时任山西平陆农村商业银行股份有限公司副行长)、吴某(时任山西平陆农村商业银行股份有限公司曹川支行运营主管),三人对该行未按规定对高风险客户采取强化识别措施负有责任,分别被罚款1.5万元。

  年初以来,创新药特别是港股创新药在政策、技术及行业龙头业绩的多方因素催化下,迎来了久违的大涨。医药行业迎来新的投资机遇了吗?近日,大摩沪港深精选混合(A:013356C:013357)2025年一季报发布,摩根士丹利基金研究管理部总监、大摩沪港深精选混合基金经理王大鹏在报告中表示,创新药企业迎来研发收获期,CXO头部公司2025年指引良好增长,继续看好创新药、CXO等方向的表现。

  一季度集中持仓A+H股创新药和CXO

  2025年一季度,权益市场行业间分化明显,中信医药指数上涨2.27%,排名中上游,恒生医疗保健指数上涨25.23%,排名前列。①

  对于一季度A股及港股医药板块的表现,王大鹏认为,一方面,政策持续支持创新药产业等发展,政府工作报告提出优化集采政策,有力促进了板块估值提升。另一方面,AI应用渗透医疗产业,对相关公司形成了股价催化。

  此外,他表示,行业内的优秀公司商业化、BD(商务拓展)进展顺利,基本面整体呈现向上趋势,也为板块上涨提供了支撑。而港股医药除了反映整体医药政策影响外,对外部影响更为敏感,在中国资产估值修复方面反映更为积极,同时港股医药汇聚了众多生物科技公司,估值弹性表现更为突出。

  根据此次发布的报告,一季度,大摩沪港深精选混合的持仓集中在A+H股创新药、CXO(医疗研发外包)等方向。

  具体来看,2025年3月31日,其前十大重仓股分别为科伦博泰生物-B、药明康德、恒瑞医药、泽璟制药、信达生物、百济神州、康诺亚-B、康龙化成、贝达药业、昭衍新药,合计占基金资产净值比例为68.25%,较2024年末有所提高,其中港股医药占比为28.05%、A股医药占比为40.20%。②

  大摩沪港深精选混合前十大持仓股票(2025.3.31)②

  对医药板块继续乐观看好创新药、CXO等方向

  展望后市,王大鹏表示对后续医药板块继续保持乐观:

  基本面方面,随着宏观政策力度超预期,经济预期及消费预期持续改善,经济基本面持续好转可期,医保重回均衡趋势,板块回归稳健增长,经济复苏预期也有利于内需相关资产。

  医药政策方面,从2025年政府工作报告看,集采政策优化,强调价格的情况下同时强调质量,集采价格预期改善;全方面支持创新药发展、商业保险助力药品支付等支持政策有望不断落地,利好创新药等产业发展。

  从外部影响来看,预计美国已处于降息通道,对港股及创新药为代表的成长板块的压制有望缓解,同时关税政策增加了外部扰动,中国AI、机器人、创新药等科技行业快速发展有利于中国资产相较于美股资产估值回升。

  从长期角度来看,随着人口老龄化、居民收入水平和健康意识的不断提高,医药行业预计会长期维持稳健较快的增长,有望持续保持超过GDP的增速。未来医药在创新升级、制造升级及消费升级方面均有较大的发展潜力,医药长期投资逻辑稳固。

  在细分方向上,王大鹏表示看好创新药、CXO等方向:

  创新药领域,政府工作报告提出支持创新药发展,商业保险发展有望贡献增量,创新药企业迎来研发收获期,对外授权等持续落地,在全球创新产业地位不断提升,头部公司业绩呈现盈利加速或加速转盈趋势,同时港股聚集了众多优质创新药企业,具备较好的差异化投资价值。

  CXO领域,美生物安全法案影响预计持续降低,同时海内外行业投融资呈现稳步回升态势利于CXO订单修复,外向型代表性公司订单增长趋势良好,头部公司2025年指引良好增长,相较于2024年显著改善,随着国内经济的不断复苏,内需型CXO也具备复苏潜力。

  注① :数据来自来自大摩沪港深精选混合一季报中“报告期内基金的投资策略和运作分析”。

  注② :持仓股及占基金资产净值比例信息来自基金2025年一季报,行业分类(A股为中信三级、H股为恒生三级)来自Wind,截至2025.3.31。

  注③ 根据一季报,本报告期末基金因证券市值波动原因导致投资于科伦博泰生物的比例被动高于法规规定的10%上限。本基金已在法律法规及基金合同规定的时间内,于2025年4月4日完成上述投资比例调整事项。

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