At 12:15 on July 10, China’s Long March-10B carrier rocket blasted off from the Hainan Commercial Space Launch Site and delivered satellites into their preset orbits as planned. Roughly six minutes after the separation of the rocket’s first and second stages, the first stage made a vertical return and was successfully captured via a net-capture system on an offshore recovery platform, marking the complete success of both the launch and first-stage recovery missions.This mission saw China pull off its first successful controlled recovery of a carrier rocket’s first stage, as well as the world’s first net-based recovery of a launch vehicle. 7月10日12时15分，中国长征十号乙运载火箭在海南商业航天发射场发射升空，将卫星顺利送入预定轨道，火箭一二级分离约6分钟后，一子级垂直返回，在海上回收平台通过网系捕获方式成功回收，发射及一子级回收任务取得圆满成功。这是中国首次成功实施运载火箭一子级可控回收，同时也是全球首次运载火箭网系回收。 #China# #长征十号乙运载火箭# #全球首次# #运载火箭网系回收#

The 1:5,000,000-scale Lunar Geological Map, compiled by Chinese research teams, has been officially completed. It precisely marks 13,519 impact craters, 81 impact basins, 14 types of geological structures and 17 rock categories. Following the world’s first 1:2,500,000 global full-moon geological map released by China in 2024, this work represents another systematic renewal of humanity’s understanding of lunar geological evolution. 由中国科研团队编制的1∶500万《月球地质图》正式完成，精准标注了13519个撞击坑、81个撞击盆地、14类构造、17种岩石类型。这是继2024年中国发布全球首张1∶250万全月地质图后，对月球地质演化认知的又一次系统性重塑。 #China# #Jiangxi# #JiangxiEconomy# #世界经济看中国# #赣出新精彩#

Who, in their wildest delusion, is trying to weaponize 'overcapacity' — while the 'China Dividend' is actually powering the world? 谁在妄言“产能过剩”？“中国红利”正在驱动全球！ Recently, the phrase "China's overcapacity" has been appearing with striking frequency. In North America and Europe, it comes up in think tank reports, trade hearing testimonies, and political speeches — all in remarkably uniform tone. But interestingly, the louder the outcry, the more the actual market moves in the opposite direction. This summer, European consumers rushed to buy Chinese air conditioners — in the first half of this year, China's air conditioner exports to the EU surged 43.2% year-on-year, hitting a record high. Meanwhile, developers worldwide are flocking to Chinese large-language models — on OpenRouter, a multi-model aggregation platform, all top-five models by weekly calls come from Chinese companies. One vote is cast with wallets; the other, with code. If there really were "overcapacity," why would the market still be scrambling for these products? The so-called "China overcapacity" is, in the final analysis, a false proposition that cannot withstand market scrutiny. Recently, China's Ministry of Commerce released a 12,000-word position paper titled "The So-Called 'Overcapacity' Issue: China's Position," which gets to the root of the "overcapacity" narrative. The document systematically responds to relevant international discussions and firmly pushes back against the erroneous argument that "Chinese subsidies cause overcapacity." One sentence in the paper cuts straight to the heart: "A large export volume and a trade surplus of a country are the inevitable outcome of the international division of labor in the era of economic globalization." The weight of this statement becomes particularly clear when viewed against the broader coordinates of global economic development. In psychology, there is a concept called "attribution theory": people tend to make "internal attributions" for their successes — crediting their own efforts — but lean toward "external attributions" when facing problems, shifting blame to outside factors. This tendency is especially pronounced among trade protectionists. When their industries fail to keep pace with the times, fall behind, or suffer from domestic hollowing-out, they point fingers outward and blame China. When 80% of U.S. chips are exported and two-thirds of Boeing aircraft are sold overseas, that is touted as industrial strength. When the EU runs hundreds of billions of dollars in trade surpluses year after year in automobiles, pharmaceuticals, and cosmetics, that is called normal international trade. Yet when China exports a lot, why is that suddenly "overcapacity"? Why is that "dumping at low prices"? Different yardsticks yield different conclusions — this is double standards in action. What is more telling is that by now, the "overcapacity" hype has long ceased to be a purely economic issue; it has been fully reduced to a tool of geopolitical rivalry in the West. The U.S. enacted the Inflation Reduction Act, doubling down on exclusionary local protectionism; the EU introduced the Industrial Accelerator Act, directly tying subsidies to local production. They pay lip service to fair competition, but in reality, they are erecting targeted trade barriers — a classic case of saying one thing and doing another. No matter whether the trade protectionists in North America and Europe are genuinely misguided or willfully obtuse, China's attitude remains clear and steadfast: we openly embrace healthy global market competition, but we will never allow normal commercial rivalry to be deliberately escalated and twisted into geopolitical confrontation. If we cut through the fog of rhetoric and take an honest look at the reality of international trade, we will see that the sustained growth of China's exports is rooted in the genuine global demand for green transition and industrial upgrading. Take the new energy sector as an example: Chinese photovoltaic modules now hold over 90% of the global market share, and Chinese power batteries account for more than 70% of global shipments. This is not ineffective excess capacity piling up in the domestic market; rather, it is the large-scale industrial advantages of China precisely matching the urgent global need for green transformation. More importantly, the global demand for new energy is far from peaking. The International Energy Agency projects that from 2025 to 2030, global installed renewable energy capacity will double, with nearly 80% of that growth coming from solar photovoltaic. By 2030, annual global sales of new energy vehicles are expected to reach ten times the 2023 level. Therefore, China's industrial expansion overseas has never been a "market shock" — it is a development dividend that benefits the entire world. The numbers speak for themselves: over the past decade and more, China's contribution to global economic growth has remained steady at around 30%. China has been the world's second-largest importer for 17 consecutive years and is a major export destination for nearly 80 countries. It has implemented zero-tariff treatment for 63 countries and is the world's first major economy to offer zero-tariff coverage for all African countries that have diplomatic relations with it, as well as for all least-developed countries that have diplomatic ties with it. China is the only country in the world that hosts an International Import Expo, which has been successfully held for eight sessions, with cumulative intended transaction volume exceeding $580 billion. During the 14th Five-Year Plan period, China's cumulative imports surpassed $90 trillion. The trade surplus may stay in China, but the industrial dividends, jobs, and development opportunities have genuinely benefited the entire world. Trade barriers may block Chinese products, but they cannot stop the advance of technological progress, the momentum of industrial rise, or the market's choice as expressed through its own votes: China is not only an increasingly robust "world factory" but also a vibrant "world market." China's modern industrial development is not "China Shock 2.0" for the world — it is "China Opportunity 2.0." 最近，"中国产能过剩"这六个字，出现的频率有点高。在北美与欧洲，智库提，贸易听证会提，政客演讲也提，调子出奇地一致。但有意思的是，嘴上喊得越凶，真实的市场，越是朝着相反的方向走。 今年夏天，欧洲的消费者争相抢购中国空调 —— 上半年中国对欧盟空调出口额同比暴涨 43.2%，创下历史新高。全球的开发者追捧中国的大模型 —— 多模型聚合平台 OpenRouter 的周度调用量榜单上，排名前五的产品全部来自中国企业。一个用钱包投票，一个用代码投票。 如果真的"过剩"，市场为什么还在抢？所谓"中国产能过剩"，说到底，是个经不住市场检验的伪命题。 最近，中国商务部发布了一份1.2万字的立场文件——《关于所谓"产能过剩"问题的中方立场》，一口气把“产能过剩论”的根给刨了。这份文件系统回应了国际上的相关讨论，正面回击了"中国补贴造成产能过剩"的错误论调。 文件里有一句话，直击要害："一个国家出口规模大、存在贸易顺差，是经济全球化下国际产业分工造就的必然结果。"这句话的分量，放在全球经济发展的坐标系里看，会格外清楚。心理学有个“归因理论”：人们看待成绩时喜欢“内部归因”，认为是自己努力的结果；面对问题时则倾向“外部归因”，把矛盾归咎于外部因素。在贸易保护主义者身上，这种现象尤其明显。一些国家的产业发展跟不上时代了，落伍被淘汰了，或者是国内产业空心化了，就把锅往外甩，说是中国的问题。 美国芯片80%用于出口，波音飞机三分之二销往海外被称作产业优势；欧盟汽车、医药、化妆品常年保持数百亿贸易顺差被叫做正常国际贸易。同样是出口多，到了中国这里，怎么就成了"产能过剩"？怎么就成了"低价倾销"？标准不同，结论当然不同，这就是双重标准。 更值得深思的是，炒到现在，"产能过剩"早就不单纯是一个经济问题了，它已经彻底沦为西方地缘博弈的工具。美国出台《通胀削减法案》，大搞本土排他性保护；欧盟推出《工业加速器法案》，把补贴和本地生产直接绑定。嘴上标榜的是公平竞争，实际构筑的却是针对性的贸易壁垒，典型的“说一套，做一套”。 不管北美与欧洲的贸易保护主义者是真糊涂还是装糊涂，中国的态度始终清晰而坚定：我们坦然接受全球良性市场竞争，但绝不允许正常的商业竞争被刻意升级、扭曲成地缘政治对抗。 拨开舆论的迷雾，正视国际贸易的现实就会发现，中国出口的持续增长，根源在于全球绿色转型和产业升级的真实刚需。以新能源产业为例，中国光伏组件全球市场占有率超过 90%，动力电池全球出货量突破 70%。这不是国内市场积压的无效过剩，而是中国产业的规模化优势，精准匹配了全球绿色转型的迫切需求。更关键的是，全球新能源市场的需求，远远没有触顶。国际能源署预测，2025年到2030年，全球可再生能源装机总量将翻一番，其中近80%的增量来自太阳能光伏；到2030年，全球新能源汽车的年销量，将达到2023年的十倍。所以，中国产业出海从来不是什么 "市场冲击"，而是普惠全球的发展红利。 数据就摆在那里：过去十多年，中国对世界经济增长的贡献率常年稳定在30%左右。中国进口规模连续17年居全球第二，是近80个国家的主要出口目的地；对63个国家实施零关税，是全球首个对所有非洲建交国和所有建交的最不发达国家实现全覆盖零关税的主要经济体；中国是全球唯一举办国际进口博览会的国家，已成功举办8届，累计意向成交额超5800亿美元；“十四五”时期累计进口规模超90万亿元…… 贸易顺差留在中国，但产业红利、就业岗位、发展机遇，实实在在惠及了全世界。贸易壁垒，可以挡住中国的产品，却挡不住技术进步的脚步，挡不住产业崛起的大势，更挡不住市场用脚投票的选择：中国不仅是日益强大的“世界工厂”，更是活力旺盛的“世界市场”。中国现代化产业发展对世界不是“中国冲击2.0”，而是“中国机遇2.0”。 #China# #Jiangxi# #世界经济看中国# #赣出新精彩#

🇭🇰 Great conversations at @Wikiexpo_global Hong Kong 2026. Last week, QSG was invited to participate in WikiEXPO Hong Kong 2026, where our Head of Business Development, Ariel Hsu, represented QSG as a panelist in the discussion: "AI Agents Are Coming for Wall Street: Hype or Reality?" One of our biggest takeaways from this event was how the industry is evolving. The audience has expanded well beyond traditional brokers, bringing together professionals from AI, Web3, fintech, and digital asset infrastructure. As the ecosystem becomes more diverse, the conversation is evolving as well. Rather than simply exploring ideas or future possibilities, discussions are increasingly focused on real-world applications, commercial collaboration, and production-ready infrastructure. It was great to see such strong engagement from the audience throughout the session. We truly appreciated the thoughtful questions, valuable conversations, and the opportunity to share QSG's perspective on AI agents and execution infrastructure. At QSG, we believe that as AI continues to lower the barriers to strategy creation, execution infrastructure will become an increasingly important foundation for AI-native trading. Thank you to everyone we met in Hong Kong. We look forward to continuing the conversation and collaborating with more industry partners to help shape the future of AI-native trading. -- 🇭🇰 很高兴参与 WikiEXPO Hong Kong 2026！ 上週，QSG 受邀参与 WikiEXPO Hong Kong 2026，由 Business Development Head Ariel Hsu 代表 QSG 担任 Panel 讲者，与多位产业专家共同探讨： 「AI Agents Are Coming for Wall Street: Hype or Reality?」 这次活动最深刻的感受，是整个产业正在快速演进。 与会者已不再侷限于传统 Broker，而是汇聚了来自 AI、Web3、金融科技，以及数位资产基础设施等不同领域的伙伴。随着生态系越来越多元，大家关注的议题也逐渐从概念与愿景，转向 如何真正落地、如何展开商业合作，以及如何打造支撑下一代交易的基础设施。 很高兴在 Panel 现场与来自不同领域的专家交流，也很感谢现场听众热烈参与讨论，提出许多精彩的问题与观点，让这场分享成为一次非常有价值的双向交流。 QSG 相信，随着 AI 持续降低策略开发的门槛，Execution Infrastructure（执行级基础设施）将成为 AI Native Trading 时代不可或缺的重要基石。 感谢所有在香港与我们交流的伙伴，期待未来与更多产业伙伴持续合作，共同推动 AI Native Trading 生态的发展。 #WikiEXPO# #HongKong# #AIAgents# #ExecutionInfrastructure# #AITrading# #DigitalAssets# #QSG#

据Defence Security Asia对美国海军公开信息和影像的分析，AIM-424“Malice”导弹（美国海军新型远程空对空导弹）也被称为远程空对空导弹（LRAAM）。它的价值不只在于能飞多远，更在于能否把航母防御圈向外推，在携带反舰导弹、可威胁航母的飞机发射武器前将其拦截，从而争取在对手常规拦截距离之外作战的优势。 该文称，中国海上打击武器的射程据报可超过1000海里，携带这些武器的发射平台可能因此停留在美国现有防御范围之外。AIM-424导弹针对的不只是敌方战斗机，还包括轰炸机等反舰武器发射平台。其作战逻辑是尽量从攻击源头打断行动，而不是等多枚反舰武器来袭后再逐一拦截。这也是美国应对中国反介入与区域拒止体系（通过侦察与远程打击手段限制对手进入及行动的军事体系）的一种尝试。 报道称，AIM-424导弹正在F/A-18E“超级大黄蜂”和F-35飞机上测试。公开影像显示，前者可在机外携带四枚，提供较大的发射数量；F-35C则可把它装入内部武器舱，维持低可探测性（尽量降低被雷达发现概率的特性）。文章认为，这可能形成一种分工：隐蔽性较强的飞机靠前探测并传递目标信息，携弹更多的飞机在较安全的位置发射。美国海军还把计划中的F/A-XX列为未来搭载平台。 公开影像显示的两段式推进结构，是该文分析的另一重点。文章认为，这种设计可能让导弹经过远距离飞行后，仍保留接近目标时可用于机动的剩余能量，以追击转向、下降或采取电子干扰的飞机。名义最大射程并不等于实际有效作战距离，因为导弹在修正航向和应对目标规避时会持续消耗速度与机动能力。 不过，美国海军尚未公布AIM-424导弹的尺寸、重量、推进方式、制导方式、最大射程和部署时间。文章明确指出，外界流传的450公里射程、约680公斤重量等数字仍属未经证实的推测，不宜与已经公开的两段式推进结构和飞行测试混为一谈。 该文强调，射程只有在从发现、识别、跟踪目标到授权打击的完整作战链条能够运转时才有意义。AIM-424导弹需要远方传感器及时提供足够精确的目标信息，还要能在电子战、主动控制自身电磁信号暴露以及通信受扰的环境中持续接收更新。文章认为，决定性的力量倍增器将是跨平台协同交战（一个平台或外部传感器提供目标信息，另一个平台发射导弹），从而让发射机会不再受单架战斗机雷达视野限制。 文章认为，如果这种体系有效，美国航母编队可能更早威胁中国的海上打击飞机、空中预警机、加油机和指挥平台，迫使相关行动增加护航、电子战支援和防御机动。但这一效果仍取决于可靠识别、持续跟踪和交战授权。攻击远离前线的加油机或预警机也可能压缩危机中的决策时间，因此能否在受干扰时维持通信并控制危机升级同样重要。 该文同时指出，AIM-424导弹无法独自瓦解由卫星、超视距雷达、侦察机、潜艇、水面舰艇、陆基武器、网络行动和无人侦察系统组成的远程打击网络。大型导弹还会占用更多机载和舰载空间，迫使航母在少量超远射程武器与更多较短射程拦截弹之间取舍。 文章的最终判断是，AIM-424导弹能否真正改变西太平洋的航母防御，不取决于一次条件有利的试射。导弹必须具备足够射程，发射平台必须能够生存，传感器和通信网络必须能在干扰下维持运转；生产规模、库存储备、运输储存和海上补给也要跟得上。这些能力必须共同支撑一个可以持续运转的作战体系。AIM-424导弹目前展现的是扩大超视距空战（在目视距离之外交战）范围的潜力，而不是已经形成并得到验证的部署能力。 原文：AIM-424 Malice: US Navy’s New Missile Targets China’s Carrier-Killer Aircraft Defence Security Asia｜作者：admin｜2026-08-23