【财经要闻及评论】

中美新一轮战略沟通，具体谈了什么？

8月27日至28日，中共中央政治局委员、中央外办主任王毅在北京同美国总统国家安全事务助理沙利文举行新一轮战略沟通，进行了坦诚、实质性、建设性讨论。

王毅表示，中美关系历经跌宕起伏，梳理其中的经验教训，有助于更好开辟未来，找到中美两个大国的正确相处之道。

一是中美关系要保持正确方向，关键在于两国元首把舵引航。双方应该秉持相互尊重、和平共处、合作共赢原则，落实两国元首共识，推动中美关系稳定、健康、可持续发展。

二是中美两国要避免冲突对抗，关键在于遵守三个联合公报。要维护两国建交的政治基础，尊重中国的主权和领土完整，尊重中国的政治制度和发展道路，尊重中国人民的正当发展权利。

三是中美互动要顺利开展，关键在于平等相待。从实力地位出发不是国与国交往的正确方式。

四是中美关系要行稳致远，关键在于巩固民意基础。应当为人民之间的交往搭建更多桥梁、铺设更多道路，而不是设置障碍。

五是中美双方要实现和平共处，关键在于树立正确认知。中国对内致力于让中国人民过上美好生活，对外努力为世界和平发展作出更大贡献。美方不能用自己走过的道路臆测中国，也不要用国强必霸的模板镜像中国。

王毅介绍了中国共产党二十届三中全会精神，强调这次会议是中国改革开放新的重要里程碑，为外界读懂中国提供了新视野，为各国共同发展提供了新机遇。

王毅强调，台湾属于中国，中国必将统一，“台独”是台海和平稳定的最大风险。美方应当把不支持“台独”的承诺落到实处，恪守一个中国原则和中美三个联合公报，停止武装台湾，支持中国和平统一。

王毅指出，各国安全必须是共同、综合、合作、可持续的，本国的安全不能建立在他国不安全的基础上。国家安全需要有明确边界，特别是在经济领域更要科学界定。美方应停止在经贸和科技领域打压中国，停止损害中方正当利益。以“产能过剩”为借口搞保护主义，只会损害全球绿色发展，影响世界经济增长。

王毅强调，中国坚定维护对南海诸岛的领土主权和海洋权益，维护《南海各方行为宣言》的严肃性和有效性。美国不得以双边条约为借口损害中国的主权和领土完整，不得支持纵容菲律宾采取侵权行为。

沙利文表示，美中之间有分歧，有竞争，也有很多需要合作的领域。同意应以平等的方式对待对方，竞争也应当是健康、公平的。美国无意同中国脱钩。美方坚持一个中国政策，不支持台湾独立，不支持“两个中国”，不支持“一中一台”。美国和中国将长久地在这个星球上和平共存，美国的政策目标就是要找到让美中关系可持续发展的办法。美方愿同中方继续保持战略沟通，增进相互了解、减少误解误判。

双方还就乌克兰、中东及朝鲜半岛等问题交换了意见。王毅表示，中国始终致力于劝和促谈，推动政治解决乌克兰危机，我们会继续做正确的事情。美方不应向中方推卸责任，更不得滥施非法单边制裁。

双方就两国元首近期开展新一轮互动进行了讨论。同意继续落实两国元首旧金山会晤重要共识，保持高层交往和各层级沟通，继续开展禁毒、执法和非法移民遣返合作、应对气候变化等领域合作。同意适时举行两军战区领导视频通话、第二轮中美人工智能政府间对话等机制性安排。（文章来源：湖南日报）

Charged Diplomacy: How Australia Can Navigate the Geopolitical EV Tightrope Between China and the West

By Marina Yue Zhang

Australia faces a diplomatic dilemma: balancing the need to align with Western allies in reducing dependence on China’s EV and battery supplies while also promoting its green transition.

China’s dominance in the electric vehicle (EV) industry has become a significant focal point of geopolitical tensions. As a leading producer of EVs and a key player in the global supply chain for critical minerals and batteries, China’s influence extends well beyond manufacturing, shaping future energy security and driving geopolitical shifts toward green technologies. 

In response, Western nations, including the United States and the European Union, have introduced defensive measures to protect their domestic industries from foreign competition. These measures often include imposing higher tariffs, restricting imports, and implementing other trade barriers aimed at safeguarding local markets from perceived unfair trade practices, while enhancing domestic production capacity. 

A Geopolitical Tug-of-War

The United States has increased tariffs on imported Chinese EVs to 100 percent, while the EU has imposed provisional anti-subsidy duties ranging from 17.4 percent to 37.6 percent on Chinese EVs. The rationale behind these measures is rooted in concerns that China’s overcapacity in EV production could flood global markets with government-subsidized vehicles, thereby distorting fair competition.

However, this premise is contested. Economists argue that overcapacity often results from a mismatch between actual and potential production capacity, typically driven by insufficient domestic demand. In reality, China’s domestic EV market is expanding rapidly, and production capacity utilization remains high. For example, in 2023, China’s EV market saw substantial growth, with EV sales reaching 8.1 million units – a 35 percent increase compared to 2022. This growth trajectory is expected to continue, with projections indicating that EV sales could reach approximately 10 million units in 2024, representing about 45 percent of total car sales in China. On the production side, major Chinese automakers like BYD and Tesla‘s Shanghai Gigafactory reported capacity utilization rates of around 80 percent in 2023, within internationally recognized norms. 

Though both protective, the U.S. and EU have adopted different approaches to imposing tariffs on Chinese EVs. The U.S. tariffs are more aggressive, reflecting a broader defensive strategy aimed at curbing China’s technological advancements and bolstering American manufacturing. The United States is particularly focused on slowing China’s progress in key technologies, especially in areas like battery technology, which is viewed as potentially dual-use with implications for military applications such as submarines and drones. If Donald Trump were to return to power, a Trump 2.0 administration would likely continue this policy trajectory, further intensifying efforts to decouple from China.

In contrast, Europe’s situation is more complex. Its anti-subsidy duties on Chinese EVs, designed to curb exports to Europe, are intended to encourage Chinese companies to invest in Europe. This strategy aims to stimulate the EU automotive industry, boost local employment, and support the achievement of green and sustainable development goals. While the EU’s recent ruling slightly reduced the tariff rates, it upheld the decision to impose duties on Chinese imports. The Commission explicitly stated that only a clear majority vote by EU member states against the measure could terminate it. This will undoubtedly prompt Chinese EV manufacturers to reassess the risks associated with investing in Europe.

Despite uncertainties, several member states are actively courting Chinese investment to enhance their own industrial capacities. For example, Italian Prime Minister Giorgia Meloni visited China in July to promote economic relations and industrial cooperation, with a particular focus on EVs and green technologies. Similarly, Germany, Czechia, Hungary, France, and Spain are also attracting Chinese investment in EV manufacturing, solar panels, and offshore wind installations.

In response to the EU’s decision, the Chinese government issued a statement emphasizing that the EU’s actions violate WTO rules and constitute unfair competition under the guise of “fair competition.” The Ministry of Commerce also announced an anti-subsidy investigation into certain dairy products imported from the EU.

China’s countermeasures can be seen as a strategic strike aimed at a critical vulnerability. Some European industrial nations, notably Germany, oppose imposing additional tariffs on China, with Chancellor Olaf Scholz being particularly firm in this position. Their concern is that such actions could provoke retaliatory tariffs against their own companies operating in China. In contrast, countries whose economies rely heavily on agriculture are strongly advocating for increased tariffs on China, as they do not share the same “vulnerabilities” that China could exploit. However, China’s countermeasures are specifically targeted at these pro-tariff countries, imposing reciprocal tariffs on agricultural products.

This approach offers two distinct advantages beyond its targeted nature. First, it directly impacts those who are pushing for higher tariffs on China. Second, China need not worry about further retaliatory measures resulting from these actions, as it can easily source agricultural products from alternative suppliers.

Australia’s Diplomatic Dilemma

Compared to other Western countries, particularly the United States and EU members, Australia has maintained a more open approach to Chinese-made EVs. For China, maintaining a strong relationship with Australia is a critical diplomatic strategy, as Australia is not only a key regional power in the Indo-Pacific with significant economic, strategic, and diplomatic influence but also one of the few Western countries in the region.

In the EV market, Australia finds itself in a unique position. Unlike the U.S. and the EU, Australia has not imposed additional tariffs on Chinese EVs. Instead, the Australia-China Free Trade Agreement has facilitated the influx of Chinese EVs, aiding Australia’s green transition by making these vehicles more accessible to consumers. However, Australia faces the challenge of maintaining this beneficial relationship with China while also navigating the broader geopolitical pressures from its Western allies.

In today’s geopolitics, a nation’s industry or trade policy can have significant diplomatic implications. If the Australian government were to follow the U.S. or EU by imposing tariffs on Chinese EVs or tightening investment scrutiny against Chinese investors in the EV or battery sectors, this could lead to diplomatic tensions in bilateral relations.

The escalation of the “trade war” on EVs between China and the EU provides a crucial lesson for Australia: If bilateral relations between Australia and China deteriorate, China could retaliate by targeting areas where it can find alternatives to Australian exports. This risk is particularly pronounced during periods of economic downturn in China, when its demand for Australian commodities and agricultural goods may weaken.

Additionally, a significant challenge within Australia’s EV policy remains the unresolved issue of data collection and management standards.

As EV adoption accelerates in Australia, there is an urgent need to localize services, maintenance, spare parts inventory, and battery recycling to reduce lead times and enhance service reliability. Modern EVs are deeply integrated with digital technologies, collecting vast amounts of data on vehicle performance, driving behaviors, charging patterns, and geographic locations. This data is crucial for optimizing vehicle efficiency and developing advanced services like autonomous driving. To provide preventive services and manage spare parts inventory effectively, significant amounts of user data need to be collected and analyzed. 

The integration of data-driven technologies for maintenance and services introduces an additional layer of complexity, heightening potential national security concerns and prompting stricter requirements for data management and cybersecurity. Chinese EV manufacturers seeking to invest in Australia to enhance their service offerings may encounter growing challenges in obtaining regulatory approvals and navigating investment scrutiny. The Australian government has become increasingly cautious about foreign direct investment, especially in sectors sensitive to national security, with EV data management being a prime area of concern.

Australia faces a diplomatic dilemma: balancing the need to align with Western allies in reducing dependence on China’s EV and battery supplies while also promoting its green transition by providing accessible EV options for its consumers. Compounding this challenge is the additional pressure to address data and national security concerns.

Navigating this complex landscape demands a nuanced approach that balances these factors within an independent foreign policy framework, simultaneously addressing economic opportunities, security considerations, climate change imperatives, and broader geopolitical challenges. 

The ongoing Australia-China High-Level Dialogue, which resumed with face-to-face meetings in Adelaide last week, offers a crucial opportunity for Australia to engage effectively with China’s growing influence in the EV sector while safeguarding its national interests and ensuring alignment with broader geopolitical strategies.

About Authors（关于本文作者）

Marina Yue Zhang

Dr. Marina Yue Zhang is an associate professor at the Australia-China Relations Institute at the University of Technology Sydney (UTS: ACRI). Marina holds a bachelor’s degree in biological sciences from China’s Peking University, as well as an MBA and a Ph.D. in innovation studies from the Australian National University. Dr. Zhang is the author of three books, including “Demystifying China's Innovation Machine: Chaotic Order,” co-authored with Mark Dodgson and David Gann (Oxford University Press, 2022)

澳航利润下降但市场前景良好 股价周四早盘上扬0.4%

澳航（ASX:QAN）周四发布了2024财年业绩报告。报告显示，该公司基本税前利润和法定税后利润分别为20.8亿和12.5亿澳元，与上一个财年相比，降幅分别为16%和28%。

澳航利润下降的主要原因包括：票价回落、客户项目支出上升，以及货运营收有所下降。

关于新财年，澳航透露，机票预订和旅行需求保持稳定，旅行意愿和收入趋势均继续维持良好状态。

首席执行官Vanessa Hudson表示，未来12个月内旅行的意愿依然很高：

（图片来源：QAN）

报告发布后，二级市场给予积极反应，股价攀升。10:22成交价为6.345澳元，涨幅0.40%。该股近一年的投资回报率为5.22%。

媒体：马克龙曾邀请Telegram创始人将总部迁至巴黎 但遭到了拒绝

据媒体援引消息人士的话报道，“电报”（Telegram）创始人帕维尔·杜罗夫曾在6年前与法国总统马克龙共进午餐。马克龙还试图说服杜罗夫将“电报”总部迁至巴黎，但遭到了后者的拒绝。(文章来源：东方财富Choice数据)

遭兴登堡做空后又推迟发布业绩报告 超微电脑股价暴跌26%

美东时间周三，超微电脑股价盘中暴跌逾26%，之前该公司表示将推迟披露全年财报。一天前，知名做空机构兴登堡发布对该公司的做空报告，称经调查发现，超微电脑会计操作方面存在明显的危险信号。(文章来源：东方财富Choice数据)

投资大师巴菲特迎来生日礼赞：伯克希尔一度踏过万亿市值门槛

美国当地时间周三早晨，即将在本周迎来94岁生日的“股神”巴菲特又实现了一个历史性的成就——伯克希尔哈撒韦公司的市值首次正儿八经地站上1万亿美元。（文章来源：东方财富Choice数据）

硅谷VC向哈里斯交出“愿望清单”：希望政策环境对科技较为友好

当地时间周三（8月28日），“风投支持卡玛拉”（VCs for Kamala）网站发布了一项对风险投资家的调查结果。（文章来源：东方财富Choice数据）

财报披露季近尾声  个股活跃度依旧不减 关注未来的主题投资机遇

作者：澳村牛哥   

本周剩下几个交易日，将是上市公司财报密集披露的集中期。

随着8月上市公司财报披露接近尾声，市场和投资人围绕财报季的备战或将告一段落，但市场阶段性热点挖掘依然在持续进行中。

从目前披露的财报情况看，上市公司运营情况一如既往参差不齐。整体情况看，尽管受通胀及利率高企影响，但不少公司得益于成本控制和产品研发创新，向市场交出了符合预期甚至优于预期的业绩。

整体而言，本次财报季从企业微观层面再次证明了澳大利亚经济具备的内在韧性。

未来一段，随着降息周期的到来，叠加减税和“Future Made in Australia”战略下政府主导的新一轮产业投资，相关行业和公司有望迎来难得的增长机遇。

板块方面，科技板块持续活跃。金融科技股Zip Co （ASX：ZIP）自去年股价低位上涨至今最大涨幅接近10倍。另外一只人工智能概公司Appen Ltd (ASX:APX)股价过去一段也涨幅不俗，7月底至今股价上涨翻倍。

随着美股纳斯达克市场持续走强不断刷新高位，澳洲股市中的科技板块尽管表现滞后，但随着市场风险嗜好的回升，2023年中之前的几年处于调整中的科技类个股，在基本面的变动下，迎来了新的市场估值窗口期。

详见相关报道

《科技股ZIP Co Ltd（ASX：ZIP）、NUIX Ltd(ASX:NXL) 双双逞强 Santos因收购传闻大涨 锂矿股有望企稳》

《前期深幅回调科技股暴力回升 澳股2024财年最佳指数揭晓 信息科技板块领风骚》

《Appen Ltd (ASX:APX)两日暴涨超7成：生成式人工智能项目收入显著增长》

目前看，部分个股短期涨幅巨大，但后市市场的机会更多在于个股层面成长机遇的深度挖掘。

相比之下， 周期性行业如煤炭开采、锂矿开采企业，受下游产品价格波动影响，相关上市公司业绩出现较大波动。二级市场上，包括兖煤澳洲公司Yancoal Australia Limited (ASX:YAL)、Whitehaven Coal（ASX:WHC）、Pilbara Minerals（ASX：PLS)在内的矿业公司均在财报披露后出现股价大幅下滑。

详见《锂价下跌拖累澳洲最大上市锂矿公司Pilbara Minerals（ASX：PLS) 业绩重挫》

《营收和利润双双下滑 兖煤澳洲 Yancoal (ASX:YAL)股价周二急挫近15%》

《Whitehaven Coal（ASX:WHC）携手两家日本钢企 对价10.8亿转让Blackwater煤矿项目3成权益》

小市值勘探类公司在澳洲股市中占据相当数量，但从目前披露的年报看，大部分早期的矿业勘探公司尤其是电池材料如锂等勘探类公司，受到过去一年多锂矿价格大幅下挫影响，大部分锂矿公司股价缩水严重甚至创出股价新低。

值得注意的是，该板块中不少公司现金水平处于低位，不少公司运营资金低于300万澳元，未来一段运营对于再融资有着较强的需求。

相较之下，不少金矿类勘探公司尽管面临同样资金紧张的局面，但随着黄金价格创出新高，市场对黄金概念股的热情不减。

从近期市场表现看，医疗板块个股潜流暗涌，未来机遇巨大。其中那些产品定位独特、处于临床阶段的医疗研发公司，未来数年有望迎来新一轮增长期。

免责声明：市场有风险投资需谨慎！本网所发所有文章，包括本网原创、编译及转发的第三方稿件及评论，均不构成任何投资建议，交易操作或投资决定请询问专业人士。

明年澳洲国际学生新生上限为27万人   名校招生数量将下降

澳大利亚教育部长Jason Clare周二宣布，2025年澳洲高校和职业院校的国际学生新生的上限为27万人。公立大学的新生上限为14.5万人左右，职业院校的上限为大约9.5万人。该政策将在国会批准后实施。 

澳洲政府公布的数据显示，新的上限将使新入学的留学生数量比疫情前减少大约7千人，与去年相比则将减少约5.3万人。

Clare部长没有宣布每个学校上限的具体数字，但表示规模较大的学校的新生数量将下降，偏远地区学校有望招收更多的学生，以便使澳洲国际教育行业“更好、更公平。”

部分留学生不受上述配额的限制，其中包括国际学校的学生、攻读研究型高等学位的学生、独立英语语言课程的学生、非学位课程的学生、政府资助的学者，以及跨国教育项目的学生。 

【异动股】锑矿股暴涨成潮 FELIX Gold(ASX：FXG)飙升76%：测定锑品位高达15.99% 评估近期投产可行性

FELIX Gold Ltd (ASX股票代码：FXG)披露，美国阿拉斯加Treasure Creek金锑项目内矿石锑含量高达15.99%，受消息提振，FXG股价暴涨。

周三截至澳东时间12.50pm，FXG澳交所股价飙升76%，报0.088澳元，成交量1956万股。

近期澳交所锑矿概念炙手可热，相关个股异动频频，更多详情见：

【异动股】声称坐拥澳洲高品位锑矿床 Nagambie Resources (ASX：NAG)再度暴涨44%

【异动股】中国对锑实施出口管控 Larvotto Resources（ASX：LRV）连日暴涨急剧放量 

澳华财经在线数据库显示，FELIX Gold披露的最新测定结果包括：

22TCRC071钻孔：自7.62米起3米长矿段，锑品位14.24%

22TCRC041钻孔：自86.87米起1.5米长矿段，锑品位15.99%

以及超高品位结果：

23TCRC135钻孔：自38.1起1.5米长矿段，锑品位26.1%

23TCRC176钻孔：自3起6.1米长矿段，锑品位7.7%，其中包括1.5米长，锑品位28%

Felix Gold执行董事Joe Webb表示，Treasure Creek地区广泛分布高品位锑，而其项目临近阿拉斯加最大的历史锑矿之一Scraved锑矿。

FXG正在评估近期实现锑生产的可行性。锑对于美国关键金属供应链安全有重要意义，公司预计将与相关美国政府机构合作推进未来开发。

（图片来源：FXG）

【异动股】声称坐拥澳洲高品位锑矿床 Nagambie Resources (ASX：NAG)再度暴涨44%

锑价暴涨背景下，Nagambie Resources Ltd (ASX股票代码：NAG) 持续收获强烈关注，周二NAG澳交所股价再度飙涨43.75%，报于0.023澳元，成交量高达2630万股。

澳华财经在线数据库显示，据公告披露，Nagambie旗下Nagambie矿场的JORC合规推断级资源量达415000吨，平均黄金品位3.6克/吨，锑品位4.3%。按4.3%的锑品位，该矿是澳洲品位最高的锑矿床，也是西方世界品位最高的矿床之一。

Nagambie Resources董事局主席Tom Quinn表示，Nagambie矿场矿脉系统在走向和深度上保持开放，表明存在巨大扩张潜力。接下来的工作重点将是大幅增加资源量。

（延伸阅读：《【异动股】中国对锑实施出口管控 Larvotto Resources（ASX：LRV）连日暴涨急剧放量》）

今年以来锑价格走势（图片来源：NAG）

【异动股】澳洲呼吸防护用具公司Cleanspace (ASX：CSX) 营收大增 股价飙涨（+35%）  

澳交所上市医疗设备公司Cleanspace Holdings Ltd (ASX股票代码：CSX) 上财年业绩大增，公司股价应声飙涨。

根据公告，截至6月30日的2024财年Cleanspace营收达1570万澳元，同比增30%，毛利率提升至72%，经营性EBITDA亏损大幅收窄至-350万澳元。

周二CSX澳交所股价上扬34.85%，报0.445澳元，成交量12.2万股。

澳华财经在线数据库显示，Cleanspace总部位于悉尼，专门研发生产工业和医疗市场专用呼吸防护用具，主要面向欧洲、亚太和北美进行产品销售。

截至年末Cleanspace账面现余980万澳元。

CSX近五个半财年业绩趋势（图片来源：CSX）

（部分资料来源：澳洲金融评论 澳大利亚人报 RBA）

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