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A | 全球金融市场即将迎来重大考验。 (ECNS) — From artificial intelligence reshaping the workplace to the rapid growth of industries such as integrated circuits, aerospace and biomedicine, Chinese students studying abroad are facing an increasingly diverse set of choices about what comes after graduation — and where they want to build their future. Those questions were at the center of a recent gathering of representatives from Chinese student associations at overseas universities, held at the headquarters of the Western Returned Scholars Association (WRSA) in Beijing. Discussions ranged from career opportunities in China to the role students can play in fostering greater understanding across cultures. One practical question ran throughout the event: How can young people with international experience make the most of new opportunities emerging in China? Xu Chen, executive director for campus and international business at Zhaopin.com, described the changing workplace as moving from a “human-driven” model toward “human-AI collaboration” and, increasingly, an “AI-driven” one. Artificial intelligence is not simply changing existing jobs, he said. It is also reshaping the skills employers value, making the ability to work effectively with AI and apply professional expertise to real-world problems increasingly important. China’s changing industrial landscape is opening up new possibilities as well. Xu pointed to integrated circuits, aerospace, biomedicine, high-end equipment manufacturing, industrial software and intelligent connected vehicles as areas offering strong prospects. Emerging fields such as quantum technology, biomanufacturing, hydrogen energy and nuclear fusion could create further opportunities. For Chinese students studying abroad, these trends are creating new links between the skills and perspectives they acquire overseas and the needs of fast-growing industries in China. But careers were only part of the conversation. Another recurring theme was how students living and studying overseas can help bridge cultural gaps through everyday interaction. At a roundtable on cross-cultural communication, returned graduates and representatives of Chinese student associations discussed how students can help their international peers gain a more nuanced understanding of China. Representatives from student organizations in six countries also shared experiences of campus life, community-building and exchanges with local students and communities. Sun Xinglun, vice president of the Association of Chinese Students and Scholars at Yale, said meaningful communication does not always require grand narratives. A celebration of a Chinese festival, a campus cultural event or even an everyday conversation with a classmate can provide a window into China. Rather than simply explaining China to others, students can begin with subjects their peers are genuinely interested in and draw on their own experiences of studying and living abroad. Such personal exchanges can make cross-cultural communication more natural and relatable. Chinese student associations are also taking on broader roles on overseas campuses. Beyond helping new arrivals adjust to university life, many organize academic events, career programs, cultural activities and community initiatives that bring Chinese students into closer contact with their universities and local communities. In doing so, students are not simply participants in campus life. Their experience of moving between languages, social environments and cultural perspectives can put them in a unique position to connect people who might otherwise have few opportunities to interact. For many participants, studying abroad is therefore about more than earning a degree. It is also about learning how different societies work, understanding different ways of thinking and becoming comfortable communicating across cultural boundaries. Whether they eventually return to China or continue their studies and careers overseas, those experiences can become an asset in an increasingly interconnected world. The program also included sharing sessions on overseas study experiences and employment trends for graduates returning to China. Participants later visited an exhibition tracing the more than century-long history of the Western Returned Scholars Association and the experiences of generations of Chinese who studied overseas before returning to contribute to the country’s development.
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本周,金融市场将迎来经济数据、财报和地缘局势等一系列重磅事件的扰动。其中,美联储主席凯文·沃什将于8月28日(周五)在杰克逊霍尔全球央行年会上发表讲话。美联储最青睐的通胀指标—7月PCE物价指数将于8月26日(周三)公布,或将直接影响市场对美联储的加息预期。尽管美联储9月加息的紧迫性有所降低,但目前市场仍预期美联储可能会在2026年年底前进行一次加息。 另外,美股财报季也将迎来重头戏,全球“AI总龙头”英伟达将于北京时间8月27日凌晨披露财报,其业绩指引被视为AI资本开支周期的“终极验证”,全球“AI交易”可能会遭遇剧烈波动。

B | 沃什本周将发表重要讲话 根据日程安排,2026年杰克逊霍尔全球央行年会将于8月27日至29日在美国怀俄明州举行,会议主题为“金融创新:对支付与政策的影响”。 沃什将于北京时间8月28日晚上10点在年会上发表重要讲话。沃什此前表示,他希望利用这次演讲来界定美联储面临的“重大问题”——包括对通胀目标、生产力、人口结构变化以及全球经济冲击的担忧。 投资者期待沃什阐明美联储未来将如何应对顽固通胀,但目前尚不确定他是否会给出明确表态。迄今为止,沃什一直回避给出任何前瞻性政策指引。

C | 道明证券策略师表示,从理念上,沃什本就不愿给出政策指引,预计沃什不会改变其解读经济前景的表态方式。市场将寻找有关其政策反应函数的线索,同时期待他重申美联储对抗通胀的立场。 彭博经济学家预计,沃什更可能重点讨论其美联储改革的理念框架,强调前瞻指引可能降低政策灵活性,并干扰市场信号。 而在此之前,美国国债市场遭遇猛烈抛售,美国30年期国债收益率一度升至5.337%,创下2007年6月以来新高。随后,美国财政部紧急宣布,将10年至30年期美债的流动性支持回购操作规模至少提高一倍。 有分析人士指出,近期美债抛售潮的原因之一,是沃什上任后坚决不给货币政策的前瞻指引,甚至还扬言“美债收益率上升已经帮美联储完成部分工作”。 在全球央行年会召开前,美联储“最青睐的通胀指标”美国7月PCE通胀数据将于北京时间8月26日20:30公布,若该数据超出市场预期,市场对9月美联储的加息预期或将再度升温,进而引发美债收益率与全球风险资产联动波动。此外,美国二季度实际GDP修正值也将于当天20:30公布。 财报季的重头戏 美股财报方面,根据日程安排,英伟达将于北京时间8月27日凌晨发布截至7月的季度财报,全球AI资本开支周期将迎来“终极验证”,或将引发市场巨震。 据杰富瑞最新发布的报告,预计英伟达本财季收入将达到950亿美元,高于市场一致预期的约919亿美元;下一财季收入指引有望达到1080亿美元,也高于市场预期的约1037亿美元。 另有分析指出,真正决定英伟达股价弹性的是三个更长期的问题:Rubin能否顺利接棒Blackwell、AI需求是否仍显著大于供给,以及英伟达为锁定未来需求需要承担多大的融资和资产负债表责任。 杰富瑞认为,英伟达Rubin的爬坡速度可能显著快于Blackwell初期。

D | 原因在于Rubin延续72-GPU Oberon NVL72机架形态,能够复用GB200、GB300积累下来的液冷数据中心部署和制造基础。 摩根士丹利指出,融资、市场份额和毛利率是投资者当前最关注的三大争议点。英伟达管理层大概率会强调这些结构有助于加速AI基础设施建设,但投资者需要看到更清晰的会计披露,包括或有义务、租赁和电力支付支持、残值承诺等细节。 另外,中东局势依然是重要且不可控的场外因素。

E | 根据此前预告,美国财长贝森特将于当地时间周一美股盘中(北京时间周二凌晨)举行新闻发布会,披露美国对伊朗实施“前所未有的经济孤立”措施的细节。 目前市场尚不理解美国如何在军事打击都未能奏效的情况下,通过加码经济制裁逼迫伊朗妥协。 伊朗最高国家安全委员会秘书雷扎伊8月22日公开表示,任何参与对伊朗实施经济限制的国家,都被伊朗视为敌人。同时,美国在霍尔木兹海峡南部航道的任何行动都将成为伊朗的打击目标,且伊方将打击美国与该地区任何反伊朗势力举行的会晤。 Rystad能源石油市场分析副总裁亚尼夫·沙阿表示:“外交斡旋看不到明显进展,全球能源市场再度计入外交谈判失败的风险。

F | ”
(文章来源:券商中国)。
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