2025年7月14日，中央层面整治形式主义为基层减负专项工作机制办公室会同中央纪委办公厅通报，广 西壮族自治区桂林市恭城瑶族自治县在2018年脱离实际、盲目决策建设文旅项目，造成闲置浪费。近 日，记者到恭城实地探访当地项目整改及作风建设情况。 在通报中提到的瑶汉养寿城，记者看到已有县人民医院体检中心、茶江酒店及月子中心等一批康养医疗 服务机构入驻运营。 据了解，该项目整改工作分为3个阶段：短期解决群众交房、不动产权证书办理、居民子女上学等问 题；中期完成闲置楼栋、楼层盘活工作；长期做好烂尾楼栋续建、优化调整项目片区规划、完善周边基 础设施及公共服务配套设施建设，丰富区域业态。 "短期整改阶段工作基本完成。"恭城城投公司董事长兰思瑶告诉记者，88户业主中已有86户完成不动产 权证书办理，剩余2户因涉及相关案件诉讼，暂不具备办理条件；24户未能按时交房的，已完成房屋置 换16户、退款8户；小区居民义务教育阶段子女全部实现顺利入学。 目前，该项目中期、长期整改工作正有序推进。闲置资产盘活方面，县人民医院健康体检中心、县中医 院中西医综合服务中心正式挂牌运营，职工疗养休养业务逐步恢复，其他招引项目洽谈工作有序推进。 ...

Core Viewpoint - The European Commission has adjusted its "Automotive Industry Package," changing the 2035 ban on combustion engine vehicles to a target of 90% reduction in carbon emissions compared to 2021 levels, allowing for the continued sale of certain non-pure electric vehicle models in the EU market, marking a significant revision of the EU's green transportation transition plan [1] Group 1: Policy Adjustments - The new proposal allows for the sale of various traditional powertrain technologies, including plug-in hybrid vehicles, range-extended electric vehicles, mild hybrid vehicles, and internal combustion engine vehicles that meet specific low-carbon fuel standards [1] - The plan includes more flexible transitional reduction targets from 2030 to 2032, aiming to balance emission reductions with industry sustainability [1] - The European Commission emphasizes that the plan provides a pragmatic policy framework to achieve carbon neutrality by 2050 while granting manufacturers greater flexibility [1] Group 2: Industry Reactions - Some major European automakers support the proposal, viewing the relaxation of a single technology route as beneficial for addressing market pressures; Volkswagen calls the proposal "economically reasonable," while BMW acknowledges the feasibility of internal combustion technology in the foreseeable future [3] - However, some manufacturers and industry associations criticize the proposal; Volvo, which has heavily invested in electrification, views any reversal of bans as a "betrayal," and Stellantis argues that the plan fails to address deep-seated issues in the light commercial vehicle sector [3] Group 3: Environmental and Political Perspectives - Environmental groups criticize the adjustment as a retreat that undermines the EU's reputation as a global climate leader, arguing that the 90% reduction target could slow the adoption of electric vehicles and impact the overall climate neutrality goal for 2050 [4] - Political reactions among EU member states are mixed; countries like Germany and Italy welcome the proposal as aligning with current industry realities, while Spain opposes it due to its ongoing transition to electric vehicles [4] - The European Parliament's Green Party expresses concerns that undermining the future of electric vehicles is a significant error that could harm public health and competitiveness [4] Group 4: Future Outlook - The plan must undergo review by the EU Council and European Parliament before becoming law, a process expected to take several months and likely to involve further discussions and revisions on details such as compensation mechanisms and market regulation [5] - The adjustment reflects a policy trade-off between climate goals and industrial realities, highlighting the tension between long-term policy aspirations and practical implementation amid global technological competition [5]

Core Viewpoint - The national housing and urban construction work conference emphasizes stabilizing the real estate market by 2026, highlighting the importance of a "white list" system for real estate projects and the implementation of a lead bank system for financing [1] Group 1: Real Estate Market Stability - The conference aims to support reasonable financing needs of real estate companies and promote high-quality development of the real estate sector as a necessity for modernizing China [1] - The real estate and construction industries are projected to account for 13% of the GDP in 2024, indicating significant potential for long-term growth in the sector [1] Group 2: Financing System Improvement - Addressing the information asymmetry between real estate companies and financial institutions is crucial for stabilizing financing supply and meeting reasonable financing demands [2] - The "white list" system for real estate projects has been effective in alleviating information asymmetry, with over 7 trillion yuan in loan approvals and the delivery of over 7.5 million homes [2] Group 3: Lead Bank System - The lead bank system aims to stabilize corporate expectations and prevent cascading risks by designating a single bank or syndicate to manage project financing, thus improving the previous fragmented financing model [3] - This system helps avoid the "run on the bank" phenomenon, where multiple banks withdraw funding simultaneously, which can jeopardize otherwise viable companies [3] - As urbanization transitions to a stable development phase, the financing model for real estate must continue to evolve to ensure effective supply-demand matching and stabilize financing expectations [3]

Core Viewpoint - The recent appreciation of the Renminbi (RMB) against the US dollar is attributed to a combination of external pressures easing, internal economic resilience, precise policy adjustments, and shifting market expectations [1][2]. Group 1: External Factors - The primary driver for the recent strengthening of the RMB is the changing environment of the US dollar, particularly due to the Federal Reserve's ongoing interest rate cuts, which have suppressed the long-term outlook for the dollar [1][2]. - The US dollar index has decreased by approximately 2.0% since late November, reflecting the impact of enhanced expectations for Federal Reserve rate cuts [2]. Group 2: Internal Economic Resilience - China's economy has demonstrated strong resilience, with significant improvements in economic data and rising policy expectations, which provide solid fundamental support for the RMB [1][2]. - China's trade surplus exceeded $1 trillion for the first 11 months of the year, and the performance of the Chinese capital market has attracted continuous foreign investment, increasing demand for the RMB [1]. Group 3: Market Dynamics - As the year-end approaches, there is an increase in corporate demand for currency settlement, which is contributing to the seasonal strengthening of the RMB [2]. - The appreciation of the RMB is expected to enhance the attractiveness of the domestic capital market to foreign investors, directly increasing foreign exchange earnings [2]. Group 4: Expert Opinions and Recommendations - Experts suggest that export enterprises should not rely solely on a one-sided view of the RMB exchange rate and should utilize foreign exchange derivatives to manage currency risk effectively [3]. - The Central Economic Work Conference emphasizes maintaining the RMB exchange rate at a reasonable and balanced level, indicating a policy orientation to prevent excessive appreciation or depreciation of the currency [3].

Core Viewpoint - The release of the "Encouragement Directory for Foreign Investment Industries (2025 Edition)" aims to attract and utilize foreign investment more effectively, focusing on advanced manufacturing, modern services, high-tech, and environmental protection sectors, particularly in the central and western regions and Northeast China [1][2]. Group 1: Changes in the Encouragement Directory - The 2025 edition of the Encouragement Directory includes a total of 1,679 entries, an increase of 205 entries and 303 modifications compared to the 2022 edition [1]. - The national directory consists of 619 entries, with 100 new additions and 131 modifications, while the regional directory for central and western areas has 1,060 entries, with 105 new additions and 172 modifications [1]. Group 2: Focus Areas for Foreign Investment - The new directory emphasizes three main areas for foreign investment: advanced manufacturing, modern services, and investment in central and western regions, Northeast China, and Hainan Province [2]. - New entries in the manufacturing sector include cutting-edge fields such as nucleic acid drug development, zero-magnetic medical equipment, intelligent detection equipment, underwater robots, and key components for robots [2]. Group 3: Service Sector Development - The directory highlights the development of productive service industries, adding new categories such as common technology platforms for new materials, modern high-end shipping services, and virtual power plant operations [2]. - It also supports the enhancement of service consumption by including categories like pet services, sports tourism, property services, and internet-based healthcare services [2]. Group 4: Regional Coordination and Development - The directory aims to promote regional coordinated development by expanding the encouragement scope based on local resources and industrial characteristics [3]. - New entries for specific provinces include cruise tourism in Liaoning, ice and snow equipment in Heilongjiang, high-end intelligent lifting machinery in Henan, marine environmental governance in Hainan, computing power hardware in Guizhou, and wind power operations in Qinghai [3]. Group 5: Future Implementation - The National Development and Reform Commission will coordinate with relevant departments to ensure the effective implementation of the policy measures [4]. - Efforts will be made to create a market-oriented, law-based, and international business environment to attract more multinational companies to invest in China [4].

Core Insights - The Central Asian region is experiencing robust economic growth, with Kazakhstan, Uzbekistan, Kyrgyzstan, Tajikistan, and Turkmenistan showing resilience and a shift in development models, supported by deepening cooperation with China [1][5]. Economic Performance - Kazakhstan's economy grew by 6.4% in the first 11 months, with the real economy expanding by 8.3%. Key sectors include transportation (+20.3%) and construction (+14.7%). Fixed asset investment increased by 13.3% [2]. - Uzbekistan's GDP grew by 7.6% in the first nine months, with an expected annual growth of 7.5%. The construction sector grew by 14.2%, and services by 14%. Fitch upgraded Uzbekistan's credit rating to "BB" [2]. - Kyrgyzstan's economy surged by 11.7% in the first half and maintained a 10.2% growth rate in the first 11 months, driven by services (49.3% of GDP, +8.9%) and construction (+29%) [3]. - Tajikistan's GDP grew by 8.2% from January to September, with industrial output increasing by 24% and agriculture by 8.1% [3]. - Turkmenistan's economy grew by 6.3% in the first 11 months, with construction, transportation, and trade as key growth drivers [3]. Structural Transformation - Central Asian countries are shifting from external dependency to a dual-driven growth model, with domestic investment and consumption playing a larger role [4]. - The economic structure is diversifying, with rapid growth in the real economy and an expanding share of modern services such as trade, logistics, and finance [4]. - Policymakers are balancing growth and risk management, with inflation pressures prompting measures like interest rate hikes in Kazakhstan [4]. - Long-term strategies are focusing on digital transformation and sustainable development, with initiatives in technology and green energy [4]. China-Central Asia Cooperation - The economic vitality of Central Asia is closely linked to cooperation with China, marked by the second China-Central Asia Summit in 2025 [5]. - Trade between China and Kazakhstan reached $14.9 billion in the first half of the year, while trade with Kyrgyzstan increased from $17.4 billion to $23.6 billion in the first ten months [6]. - Connectivity projects are transforming Central Asia from a landlocked region to a land-linked one, with significant increases in cargo volumes and the launch of the China-Kyrgyzstan-Uzbekistan railway [6]. - Emerging cooperation in digital economy, green energy, and high-tech sectors is fostering future economic growth in Central Asia [6]. Institutional Framework - The signing of a permanent friendly cooperation treaty among six countries establishes six priority cooperation areas, enhancing institutional cooperation [7]. - The focus is on building local capacities through training, agricultural technology promotion, and poverty reduction mechanisms [7]. - The collective economic growth of Central Asia demonstrates the region's inherent vitality and resilience, supported by close ties with China [7].

Core Insights - The Shengli Jiyang shale oil field has become China's first billion-ton shale oil field to pass national review, marking a significant breakthrough in the exploration and development of shale oil in continental rift basins [1][3] - Shengli Oilfield has produced a total of 115.55 million tons of crude oil and 4.015 billion cubic meters of natural gas since the 14th Five-Year Plan, contributing to national energy security [2] - The company has established a comprehensive smart energy system, achieving a green electricity generation capacity of 740 million kilowatt-hours annually, with renewable energy usage in oil and gas production reaching 25% [1][6] Exploration and Production - Shengli Oilfield is advancing deep exploration, with new drilling activities targeting depths of up to 5,750 meters to tap into deeper oil and gas resources [2] - The company has achieved significant breakthroughs in shale oil production, with the Jiyang shale oil field estimated to have a resource volume of 10.52 billion tons, comparable to conventional oil and gas resources discovered over 60 years [3] - By 2025, Shengli Oilfield expects to produce over 700,000 tons of shale oil, positioning it as a strategic area for resource replacement [3][5] Renewable Energy Integration - Shengli Oilfield has built a multi-energy complementary system, with 572 megawatts of solar power installed and 184 renewable energy projects implemented [6][8] - The company has achieved carbon neutrality in certain operational areas, with green electricity generation reaching 8.66 million kilowatt-hours annually [6][7] - The integration of renewable energy into oil and gas production has led to significant improvements in energy supply quality and efficiency [7][10] Carbon Capture and Utilization - Shengli Oilfield has developed a leading CCUS (Carbon Capture, Utilization, and Storage) project, with over 2.3 million tons of CO2 injected and a doubling of daily oil production in demonstration areas [9][10] - The company has established a comprehensive carbon footprint accounting system across all oil and gas development units, achieving full coverage in the industry [10] - The CCUS project is seen as a key technology for achieving low-carbon transformation and enhancing the company's leadership in the industry [9][10]

Core Insights - The total irrigated area of arable land in China has exceeded 10.9 million acres, an increase of over 5.3 million acres since the end of 2020 [1] - By 2025, the irrigated area is expected to contribute to 80.76% of the national grain output, up from 80.35% last year, indicating a 0.41 percentage point increase [1] - Large and medium-sized irrigation areas account for 38.89% of the national grain sowing area and 50.9% of the total grain output [1] Summary by Sections Irrigation Area Expansion - The Ministry of Water Resources has strengthened the modernization and renovation of large and medium-sized irrigation areas, with plans to start construction on 7 large irrigation areas by 2025, covering over 5.6 million acres [1] - Ongoing construction of 15 large irrigation areas is expected to cover 11.3 million acres, along with 157 modernization projects for large and medium-sized irrigation areas, which will add nearly 20 million acres of restored and improved irrigation area upon completion [1] Water Efficiency Policies - The Ministry of Water Resources, along with four other departments, has issued opinions on establishing a comprehensive water-saving policy framework to enhance agricultural water efficiency and effectiveness [1] - By the end of 2025, the effective utilization coefficient of irrigation water in farmland is projected to increase to 0.583 [1]

中央经济工作会议在分析当前经济形势时指出，"国内供强需弱矛盾突出"，并将"坚持内需主导，建设 强大国内市场"列为明年重点任务之首。在外部环境变化影响加深，国内供强需弱矛盾突出的情况下， 必须以更强的紧迫感和主动性，更好统筹扩大内需和深化供给侧结构性改革，着力打通经济循环卡点堵 点，推动形成需求牵引供给、供给创造需求的更高水平动态平衡，加快实现国民经济良性循环。 我国经济拥有超大规模市场和完整产业体系显著优势，这是统筹供给与需求的坚实基础，也是参与全球 合作与竞争的稀缺资源。从需求侧看，中国是超大规模经济体，内需为主导、内部可循环是大国经济的 独特优势。我国有全球最大最有潜力的消费市场，内需已逐步成为拉动经济增长的主动力和稳定锚。随 着居民收入稳步增长、新型城镇化深入推进、消费结构持续升级，未来扩大内需仍有巨大潜力和空间。 内需不足是当前经济运行面临的主要挑战。拓展内需增长新空间，要坚持惠民生和促消费紧密结合，从 增收减负、丰富供给、减少限制、优化环境等方面入手激发消费潜力。深入实施提振消费专项行动，制 定实施城乡居民增收计划。把扩大消费与因地制宜发展新质生产力结合起来，扩大优质消费品和服务供 给。清理消费领域 ...

Core Viewpoint - The 22nd World Wind Energy Conference held in Shantou, Guangdong, gathered representatives from nearly 30 countries to discuss cutting-edge wind power technologies and explore new paths for China's wind power industry to go global, culminating in the release of the "Shantou Declaration on Global Wind Energy Cooperation" and the launch of a comprehensive service port for China's wind power industry to expand internationally [1][7]. Group 1: Shantou's Wind Power Development - Shantou has established the Shantou International Wind Power Innovation Port, promoting China's wind power to ascend the global value chain [2]. - The region boasts exceptional wind resources, with an annual effective average utilization of nearly 4,000 hours and a potential offshore wind power capacity exceeding 60 million kilowatts [3]. - Shantou's strategic location as a key node in the "Maritime Silk Road" facilitates its role as an export base for wind power equipment, supported by a network of 268 ports across 57 countries and regions [3]. Group 2: Industry Growth and Innovation - Over the past five years, Shantou has rapidly developed its wind power sector, establishing three offshore wind farms with a total of 116 large turbines, leading the trend towards larger offshore wind projects [4]. - The total investment in the Lemen offshore wind farm exceeds 18 billion yuan, with the project recognized as a top-performing offshore wind farm in Guangdong [4]. - Shantou's International Wind Power Innovation Port integrates research, manufacturing, testing, and training, creating a comprehensive ecosystem for the wind power industry [5][6]. Group 3: Global Cooperation and Services - The "Shantou Declaration" outlines ten action directions for global wind power industry cooperation, including accelerating the construction of supply chains and fostering multi-party collaboration for technological innovation [7]. - The newly launched comprehensive service port aims to provide full-stack services to support Chinese wind power companies in their international expansion, leveraging the extensive network of overseas Chinese [8]. - Shantou's service port is designed to enhance the global competitiveness of China's wind power industry by facilitating both outbound and inbound investments [8].