【中信期货】中国期货2026年度展望-251125（82页）.pdf

1、重要提示：重要提示：本报告非期货交易咨询业务项下服务，其中的观点和信息仅作参考之用，不构成对任何人投资建议。我司不会因为关注、收到或阅读本报告内容而视本报告非期货交易咨询业务项下服务，其中的观点和信息仅作参考之用，不构成对任何人投资建议。我司不会因为关注、收到或阅读本报告内容而视相关人员为客户。相关人员为客户。This report is not a service under the futures trading consulting business.The opinions and information provided are for reference only and do n

2、ot constitute investment advice to anyone.CITIC Futures will not consider relevant personnel as customers due to their attention,receipt,or reading of this report.Investment consulting business qualification：CSRC License 2012 No.669 投资咨询业务资格：证监许可【2012】669 号 中信期货国际化研究中信期货国际化研究|CITIC Futures Internati

3、onal Research 2025/11/25 China Futures Annual Outlook 中国期货中国期货 2026 年年度展望度展望 摘要摘要 Abstract This report is a summary of 2026 outlook for key futures products in the Chinese market by CITIC Futures research institute,including macro economy,equity indices,China Government Bond,exchange rate,energy and

4、 chemicals,metals,agriculture products etc.More details are introduced in the complete series of annual outlook reports.Risks:Changes in policy expectations,geopolitical conflicts,global economic downturn,extreme weathers,and crude oil price fluctuations exceeding expectations.本报告总结中信期货部分重点品种 2026 年

5、度展望。涵盖宏观、股指、国债、汇率、能化、金属、农产品等板块。详细内容可参考中信期货年度策略报完整版本。风险风险提示提示：政策转变、地缘冲突、经济行、极端天气等。Related Reports 相关报告 20250930 China Futures Quarterly Outlook 中国期货四季度展望 20250624 China Futures Semiannual Outlook in 2025 中国期货半年度展望 20241202 China Futures Annual Outlook 中国期货年度展望*Click on the hyperlink of report titles

6、to read historical reports 姜 婧 Jiang Jing 从业资格号 Qualification No：F3018552 投资咨询号 Consulting No.：Z0013315 张 菁 Zhang Jing 从业资格号 Qualification No：F3022617 投资咨询号 Consulting No.：Z0013604 朱子悦 Zhu Ziyue 从业资格号 Qualification No：F03090679 投资咨询号 Consulting No.：Z0016871 胡佳鹏 Hu Jiapeng 从业资格号 Qualification No：F303