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大摩：內地整合產能將較過去緩慢 料今明兩年仍然通縮

Future Wealths
Future Wealths
11 7 月, 2025
One Min Read
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內地當局近期更為關注產能過剩、行業內捲問題，摩根士丹利發表報告，認為相對於2015年至2018年去產能，現時行業情况和宏觀經濟環境的基本因素，與當時相當不同，現在行業產能整合的進程將會更為緩慢，基本預期內地通縮情况會持續到明年。

原文: https://finance.mingpao.com/fin/instantf/20250711/1752225426322/%e5%a4%a7%e6%91%a9-%e5%85%a7%e5%9c%b0%e6%95%b4%e5%90%88%e7%94%a2%e8%83%bd%e5%b0%87%e8%bc%83%e9%81%8e%e5%8e%bb%e7%b7%a9%e6%85%a2-%e6%96%99%e4%bb%8a%e6%98%8e%e5%85%a9%e5%b9%b4%e4%bb%8d%e7%84%b6%e9%80%9a%e7%b8%ae

Last Update: 11 7 月, 2025

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