瑞郎/人民币 (CHFCNY) 加自选

评级机构标准普尔全球周四确认，中国的长期、短期和本币主权信用评级为A+，并指出在房地产行业持续面临挑战和关税压力的情况下，强有力的财政刺激是保持经济韧性的关键因素。该机构还将中国的前景维持在“稳定”。标普在一份声明中表示：“长期主权信用评级的稳定前景反映了我们的观点，即中国将在未来一到两年内恢复到每年4%或更高的自我维持的经济增长。”。标普补充称，如果预计中国政府在未来三到五年内将实施更大规模的财政刺激，它可能会降低中国的评级。相反，如果财政整顿的进展速度超过预期，评级可能会提高。相比之下，穆迪上一次将中国评级为A1，展望为负面，而DBRS晨星评级为a，展望为稳定。

Ratings agency S&P Global on Thursday affirmed China’s long-term, short-term, and local currency sovereign credit rating at A+, citing strong fiscal stimulus as a key factor in maintaining economic resilience amid ongoing challenges in the property sector and from tariff pressures. The agency also maintained the country’s outlook at “stable.” “The stable outlook on the long-term sovereign credit rating reflects our view that China will return to self-sustaining economic growth of 4% or more annually over the next one to two years,” S&P said in a statement. S&P added that it could lower China’s rating if it expects the government to implement significantly larger fiscal stimulus over the next three to five years. Conversely, the rating may be raised if fiscal consolidation proceeds faster than anticipated. In comparison, Moody’s last rated China at A1 with a negative outlook, while DBRS Morningstar assigned an A rating with a stable outlook.

商务部长Lutnick：美国可能会将中国的最后期限延长90天。商务部长Lutnick表示；预计中国的最后期限将再延长90天。重申特朗普不会对在美国制造的半导体向科技公司征收关税。

Commerse Sec. Lutnick: US likely to extend China deadline by 90 days.Commerce Sec. Lutnick is saying; expects the China deadline to be extended another 90 days Reiterates that Trump will not charge tech companies a tariff on semiconductors if they are manufactured in the US.

瑞士法郎兑美元汇率保持在0.81左右，投资者权衡了新颁布的39%美国关税和日益增长的降息预期对经济的影响。为了避免这项措施，瑞士总统卡琳·凯勒·萨特和经济部长盖伊·帕尔梅林紧急前往华盛顿，提交了一份修订后的提案，但谈判最终失败了。这项全面措施预计将影响瑞士对美国出口的约60%，美国是瑞士最大的药品、手表、机械和巧克力等高价值商品市场。虽然瑞士政府仍致力于对话，但分析人士表示，其扭转这一决定的能力似乎有限。在国内数据方面，7月份通货膨胀率同比小幅上升至0.2%，高于预期的0.1%，但仍徘徊在接近零的水平。价格增长疲软，加上外部风险不断增加，表明瑞士国家银行仍可能进一步降低利率，进入负值区域。

The Swiss franc remained subdued around 0.81 per USD, as investors weighed the economic fallout from newly enacted 39% US tariffs and growing expectations of interest rate cuts. In a last-minute effort to avert the measure, Swiss President Karin Keller-Sutter and Economics Minister Guy Parmelin traveled urgently to Washington to present a revised proposal, but talks ultimately failed. The sweeping measure is expected to hit about 60% of Swiss exports to the US—its largest market for high-value goods such as pharmaceuticals, watches, machinery, and chocolate. While the Swiss government remains committed to dialogue, analysts say its ability to reverse the decision appears limited. On the domestic data front, inflation rose slightly to 0.2% year-on-year in July, above expectations of 0.1% but still hovering near zero. The subdued price growth, combined with mounting external risks, suggests the Swiss National Bank may still move to lower interest rates further into negative territory.

周四，上证综指上涨0.16%，收于3640点，而深证成分股下跌0.18%，收于11158点。随着投资者消化了强于预期的贸易数据以及地缘政治紧张局势的加剧，内地股市表现喜忧参半。7月出口增长大幅超出预期，这是由于企业在8月美国关税最后期限到来之前提前装运货物。进口也升至一年来的最高水平，表明国内需求有所回升。本周早些时候，美国总统唐纳德·特朗普表示，延长将于8月12日到期的当前美中贸易休战的协议“非常接近”。然而，在他对进口半导体（不包括在美国制造的公司）征收100%的关税，并因俄罗斯持续购买石油而将印度商品的关税提高一倍至50%后，紧张局势再次爆发。中国北方稀土（+6%）、富士康工业（+3.9%）和盛和资源（+7.4%）等涨幅较大。

The Shanghai Composite rose 0.16% to close at 3,640 while the Shenzhen Component fell 0.18% to 11,158 on Thursday, with mainland stocks showing mixed performances as investors digested stronger-than-expected trade data alongside renewed geopolitical tensions. July export growth sharply beat expectations, driven by firms front-loading shipments ahead of the looming US tariff deadline in August. Imports also rose to their highest level in a year, signaling a pickup in domestic demand. Earlier this week, US President Donald Trump said a deal to extend the current US-China trade truce, set to expire on August 12, was “very close.” However, tensions flared again after he imposed a 100% tariff on imported semiconductors—excluding companies manufacturing in the US—and doubled tariffs on Indian goods to 50% due to ongoing Russian oil purchases. Among notable gainers were China Northern Rare Earth (+6%), Foxconn Industrial (+3.9%), and Shenghe Resources (+7.4%).