?????????????1???4?????? ????:???????????2025:????????????????? ?????????????

?? ??????

????????????????,?????????,????????????????2025??????

“????????????”???????????????

????????????????????,?????????????

????1????????????3??,?9???????11?????????,?????50%??,????????20%???

????????????????????????“?????????????”,???“??????????”?,??????“??”????????????????????,???“???”??????????????????????,??

???????“??????”?,????????????????,??,????????????????????????????????????????

???????,?“????????”?????????????????,??????????????????

???

?????,???????????

??????,???1????11?,?(?????????,??????????????????)?????????????????6.8%,?3.5???????????????;????3.7???

2025???????????????????,??????304?????????????,???????3860??????????;??????2807?????,?????97??;??616??????????,????????????????????2.9???

????????????????????????,??????????????????????,?????????????????“?????????”????,?????????

?????????????????2025???,??????

???,??????????????????,2024??7000????????????????????1.2?????????????????????,2025????????1000????????????????????????????,????????????“?????????”(??)?,?????

????????????????

?(PMI)?????????????,??GDP???????????????????????????,????PMI??????????50%??,???????????

??????????????????????,??

????????????,?????12?????????????,??PMI???????3?????50%???????,???3??????????????52%???????,?,?????????????,?????????????????,??54%,???

???????????,????????,?????????????,?????2024???????????12??,???,??2025????????????,???(????) ??????:??????????????? “????”????

?? (??)??????2025:?????????? ????

????:1?????:??????

2????????????

3???????wx

4??????

5?????????

?????????????1???4?????? ????:???????????2025:????????????????? ?????????????

?? ??????

????????????????,?????????,????????????????2025??????

“????????????”???????????????

????????????????????,?????????????

????1????????????3??,?9???????11?????????,?????50%??,????????20%???

????????????????????????“?????????????”,???“??????????”?,??????“??”????????????????????,???“???”??????????????????????,??

???????“??????”?,????????????????,??,????????????????????????????????????????

???????,?“????????”?????????????????,??????????????????

???

?????,???????????

??????,???1????11?,?(?????????,??????????????????)?????????????????6.8%,?3.5???????????????;????3.7???

2025???????????????????,??????304?????????????,???????3860??????????;??????2807?????,?????97??;??616??????????,????????????????????2.9???

????????????????????????,??????????????????????,?????????????????“?????????”????,?????????

?????????????????2025???,??????

???,??????????????????,2024??7000????????????????????1.2?????????????????????,2025????????1000????????????????????????????,????????????“?????????”(??)?,?????

????????????????

?(PMI)?????????????,??GDP???????????????????????????,????PMI??????????50%??,???????????

??????????????????????,??

????????????,?????12?????????????,??PMI???????3?????50%???????,???3??????????????52%???????,?,?????????????,?????????????????,??54%,???

???????????,????????,?????????????,?????2024???????????12??,???,??2025????????????,???(????) ??????:???????????????