3月30日下午，国防部新闻发言人吴谦大校在国防部举行例行记者会上提到“我国首艘国产航母正在开展舾装工作，进展非常顺利”。对于是不是4月23日海军建军节下水的问题，吴谦表示“相信不会让大家久等”。

Among the above-mentioned four end-user segments, the restaurants segment accounts for the highest share of sales of commercial charbroilers. An increase in the number of restaurants, mainly QSRs, offering charbroiled food during the forecast period will help it remain a lucrative segment for the sales of commercial charbroilers.

市场从全面估值修复时期步入分化阶段，寻找结构性机会。而近期新兴产业政策层层加码，后续政策出台在即；市场情绪在维稳预期下呈现回暖，风险偏好提升，资金缓慢流入。在当前的市场环境下，我们认为内生盈利的成长股迎来布局的良机。

结论：保险行业发展空间巨大，离 2020 年保险深度达到 5%、保险密度 达到 3500 元人民币/人的“国十条”目标仍有差距，未来几年保费收 入规模将保持高速增长，互联网保险的渗透率有望进一步提升。 推荐理由及与市场观点（如其他券商观点）的差异：互联网保险的渗透 率还比较低。除了车险和理财型保险，其他险种的基数非常小。商业 健康险具有较大的想象空间，政策支持，需求上升，增速已明显高于 其他险种。 

随着本轮国企改革顶层设计基本完善，及试点范围扩大及深化，国企改革进 程日益加速。相比其他国改措施而言，混改的推广应用空间较大。国企/央企 主要分布在钢铁、有色、煤炭等产能过剩的传统产业，兼并重组有利于加速 落后产能退出，产能过剩企业的兼并重组将成为供给侧改革的主旋律。因此 我们预计 2017 年国企改革将在混改、央企并购重组等重点落地应用。在混 改、央企并购重组等两大国企改革方向上，2017 年可从以下五条主线来布局 国企改革主题：①存在较强“供给侧改革+央企并购重组”预期的标的：南 北船合并预期较强，建议关注中船集团旗下中国船舶（600150.SH）、中船防 务（600685.SH）、钢构工程（600072.SH），及中船重工旗下中国重工 （601989.SH）、中国动力（600482.SH）。 ②市值小、业绩差的优质国企壳 资源：林海股份（600099.SH）。③混改预期强烈的兵工集团下属标的：长春 一东（ 600148）、北化股份（002246）、西仪股份（ 002265）、湖南天雁（ 600698）。 ④国企改革较快地区的地方混改标的：百联股份（600827.SH）、深纺织 A （000045.SZ）、山西焦化（600740.SH）。 ⑤前期混改力度大、市场关注度高 的混改龙头标的：中国联通（600050.SH）、云南白药（000538.SZ）

我们认为，2017 年国改重点看混改，行业混改预期是否强烈，取决于内外生动 力共同驱动：外生动力主要来源于政策，电力、铁路、民航等在中央经济工作 会议上得到重点强调的关键性行业将在今年取得实质性进展。内生动力则源于 行业内国企自身寻求股权多元化，以提高经营效率和盈利能力的意愿。根据行 业比较，机械、电气设备、有色、建筑、零售等行业拥有较强的内生混改动力。

A lot of events occurred in the Azerbaijani economy in 2016. In particular, Azerbaijan planned to pass to an economic model not to depend on oil in 2016.The government mainly focused on the development of the country’s export potential in 2016, namely, the expansion of non-oil goods and services and the creation of more favorable conditions in the investment sphere.Azerbaijan has recently invested billions in the development of marine, rail, automotive,communal, social infrastructure. As a result, Azerbaijan turned into a major transit country in the region.An important event of 2016 was the coordination of the details of implementing the North-South corridor project, which will become a bridge to connect the railways of Iran,Azerbaijan and Russia. Thus, the expansion of the transport routes will further increase the country's attractiveness for investors by supplying the products produced in Azerbaijan to other markets.

Uncertainty has a cycle, like everything else, which threatened to peak in 2016, as geopolitical risk took centre-stage in shaping the fortunes of global corporates. Our view: the net effects of anti-trade sentiment from growing nationalism, protectionism, and Brexit are likely to outweigh greater hope for fiscal stimulus in corporates’ investment planning.An overall stable outlook for corporate ratings in 2017 also fails to show persisting high levels of regional disparity. Net Negative Outlooks and Watches improved strongly in the U.S, but Latin American corporates are facing increasingly challenging conditions and a weakening credit trend with Negative Outlooks comprising 31% of our international rating portfolio. The slow recovery from the recession in Brazil, weak domestic growth rates in Chile, tax reforms in Colombia, and economic uncertainty in Mexico will continue to pressure ratings over the next 12 to 18 months.

将各类选股、择时等策略产品化，以标准化的产品代码，标准化的产品展示方式。公布策略的构建逻辑与历史回测表现。

旅游消费需求旺盛，春节数据平稳增长。春节期间旅游数据整体表现为稳中有增。