Core Insights - The number of bankrupt companies in Japan with liabilities exceeding 10 million yen reached 4,990 in the first half of 2025, marking a 1.19% increase from the previous year and the highest level since 2014 [1] - Various industries, including services, construction, childcare, and healthcare, are facing significant bankruptcy risks due to rising costs and economic pressures [1][2][3] Industry Analysis - In the construction sector, the number of bankruptcies in the renovation and painting industry reached 119, surpassing the figures during the 2009 financial crisis, indicating a 20-year high for the first half of the year [1] - The childcare sector saw 22 bankruptcies in the first half of 2025, a 70% increase year-on-year, with predictions of a record high for the entire year due to fierce competition and rising operational costs [2] - Home care institutions reported 45 bankruptcies, a 12.5% increase from the previous year, driven by factors such as reduced service demand and rising costs [2] - The healthcare sector experienced 21 hospital and clinic bankruptcies, a 16.6% increase, with larger institutions facing more severe financial crises due to rising operational costs and labor shortages [3] Economic Factors - High prices contributed to 343 bankruptcies in the first half of 2025, although this represents an 8.5% decrease from the previous year, maintaining a high level above 300 for three consecutive years [3] - Labor shortages led to 172 bankruptcies, the highest for the same period, with recruitment difficulties and rising labor costs being significant contributors [4] - Tax-related bankruptcies reached 77, the second highest since 2016, as companies struggled to meet tax obligations amid rising operational costs [4] - The depreciation of the yen resulted in 33 bankruptcies, with total liabilities exceeding 88.9 billion yen, eight times that of the previous year, highlighting systemic risks for small export-oriented companies [4] Overall Outlook - Japan is facing a systemic crisis characterized by high prices, labor shortages, and debt repayment peaks, particularly in critical sectors like childcare and healthcare [5] - The political instability and uncertain economic policies from the U.S. may further exacerbate the bankruptcy situation, with predictions suggesting that the total number of bankruptcies could exceed 10,000 for the year [5]

Group 1 - The National Development and Reform Commission (NDRC) has completed the allocation of 800 billion yuan for "two重" construction projects and 735 billion yuan of central budget investment, with plans to distribute an additional 690 billion yuan in special bonds for consumer goods by October [1] - In the first half of the year, China's economy showed resilience, with major macroeconomic indicators performing well and contributing to a solid foundation for achieving annual economic and social development goals [1] - Retail sales of consumer goods increased by 5% year-on-year in the first half of the year, with final consumption contributing 52% to economic growth [1] Group 2 - The NDRC emphasizes the importance of enhancing consumer capacity and willingness, alongside high-quality supply to stimulate new demand [2] - The national unified market construction is progressing, with logistics costs as a percentage of GDP dropping to 14%, the lowest on record, saving over 130 billion yuan in logistics expenses [2] - The NDRC plans to strengthen domestic circulation by stabilizing employment, boosting consumption, and expanding effective investment [3] Group 3 - The NDRC is addressing "involution" competition issues through legal revisions, policy introductions, and industry self-regulation [4] - The NDRC aims to maintain policy continuity and stability while enhancing flexibility and foresight to convert external pressures into internal momentum [4] - Continuous monitoring and forecasting of the economy will be conducted to ensure stability in employment, enterprises, markets, and expectations [4]

Core Viewpoint - Fuzhou New Area (Changle District) is leveraging its advantages in digital infrastructure to drive high-quality development, aiming to become a "digital industry highland" in Southeast China, with a digital economy scale exceeding 75 billion yuan [1]. Group 1: Digital Economy Development - Fuzhou New Area is focusing on building a robust digital infrastructure, including the Fujian Big Data Exchange and the Fujian Supercomputing Center, which supports the growth of the digital economy [1]. - The digital economy in the region has transformed significantly, with a scale surpassing 75 billion yuan, indicating a shift from a small and weak industry to a strong and expansive one [1]. - The establishment of a 10 billion yuan digital economy industry fund and the implementation of the "Digital Fuzhou" three-year action plan are key policies supporting this growth [3]. Group 2: Traditional Industries and Innovation - The textile industry remains a cornerstone of Fuzhou New Area's economy, contributing over 160 billion yuan to the industrial output, accounting for 63% of the total [4]. - Traditional textile enterprises are being encouraged to integrate into the industrial internet, facilitating a seamless transition between old and new growth drivers [4]. - Innovations such as energy-efficient cooling technology and AI-based quality inspection systems are being developed to enhance productivity and reduce costs in the textile sector [5][6]. Group 3: Emerging Industries and Applications - Fuzhou New Area is actively developing six leading industries, including digital economy, new materials, and biomedicine, to diversify its economic base [7]. - The region is home to advanced manufacturing facilities, such as the largest ultra-wide polarizer production base, which utilizes cutting-edge technology to enhance product quality [7]. - The biopharmaceutical sector is emerging as a new economic growth driver, with advanced production lines capable of producing 2 billion oral solid dosage units annually [8]. Group 4: Infrastructure and Connectivity - Fuzhou New Area is enhancing its digital infrastructure with significant investments in cloud computing and data centers, positioning itself as a regional hub for international communication [3]. - The establishment of a comprehensive digital ecosystem, including government and business clouds, is crucial for supporting various industries and applications [3]. - The region is also focusing on smart city initiatives, including intelligent transportation systems and AI applications in healthcare and education [8][9].

8月1日，粤港澳大湾区各处第十五届全国运动会倒计时牌上的数字，跳到了"100"。100天后，十五运会 的圣火将在广东奥体中心点燃。 这将是全运会历史上的崭新一页——粤港澳三地携手举办这场体育盛会；这将是全民同享的体育盛宴 ——"绿色、共享、开放、廉洁"的办赛理念贯穿始终；这将是湾区融合的璀璨舞台——"一国两制"在体 育领域迎来生动实践。 共赴百日之约，神州翘首以待。 场馆蝶变升级筹备进入冲刺 从天空鸟瞰，广东奥体中心宛如飘扬的绸带。2001年第九届全运会开幕式曾在这里举行，24年后的她焕 然一新，已经准备好用全新的舞台惊艳神州。 奥体中心改造项目建筑设计负责人郭嘉介绍，此次升级改造以承办十五运会以及可持续发展为目标，承 继了原来场馆的设计理念，又采用了新材料、新技术，进行了无障碍设施、智慧化设施等方面的提升， 兼顾赛时赛后利用的理念贯彻始终。 "场馆的观众座位采用了四种不同的蓝色组成湾区环流的形象，还增加了广东红棉的红色、香港紫荆的 紫色以及澳门莲花的绿色三种主色调，形成了活力湾区、激情全运的形象表达。"郭嘉说。 广州体育馆、越秀山体育场、深圳湾体育中心等场馆纷纷完成"蝶变"——广东赛区75个比赛场馆中超过 ...

Economic Performance Overview - All 31 provinces in China have reported their economic data for the first half of the year, showing resilience and steady growth despite a complex environment, with 22 provinces achieving growth rates at or above the national average of 5.3% [1][2] - Tibet led the growth with a rate of 7.2%, while several provinces such as Gansu (6.3%), Hubei (6.2%), and Zhejiang (5.8%) also showed strong performance [2] Regional Economic Contributions - The top ten provinces by GDP in the first half of the year included Guangdong (68,725.4 billion), Jiangsu (66,967.8 billion), and Shandong (50,046 billion), with Guangdong maintaining its position as the largest economy [3] - The total import and export value of Guangdong, Jiangsu, Zhejiang, Shanghai, and Shandong accounted for 64.1% of the national total, reflecting a year-on-year growth of 4.8% [3] Policy and Investment Trends - Policies aimed at boosting domestic demand and technological upgrades have been implemented, with significant increases in equipment investment in Beijing (99% growth) and retail sales in Zhejiang showing over 60% growth in certain categories [4][5] - The manufacturing sector has seen robust growth, with provinces like Anhui and Hunan reporting increases in industrial output and profits exceeding national averages [4][5] Emerging Industries and Innovations - In the eastern region, industries such as artificial intelligence and high-tech manufacturing in provinces like Zhejiang and Fujian have shown double-digit growth [5] - The western provinces are also advancing, with Sichuan reporting substantial increases in the production of new energy vehicles and solar batteries [5] Future Economic Strategies - Provinces are focusing on expanding domestic demand, enhancing new productivity, and deepening reforms to ensure sustainable economic growth in the second half of the year [7][8] - Specific strategies include Guangdong's emphasis on consumption, investment, and exports, while Jiangsu aims to enhance its market and innovation capabilities [8][9]

近期，多名网络主播因直播内容低俗、擦边等问题被平台封号乃至被警方行政拘留，低俗直播这一顽疾 再次引发社会关注。 互联网技术的快速发展，将网络直播带上了历史舞台。当网络直播深度融入人们的日常生活，成为数字 经济发展新引擎时，其与生俱来的三大特性——更易触达、更难监管、更快传播，展现得越来越明显， 一些低俗内容也借机开始肆意传播。 更易触达，让低俗内容无孔不入。一部手机、一次点击，网络直播便能穿透时空壁垒直抵亿万用户。零 门槛的便利性，造就了直播间门庭若市的热闹，赢得了广泛的社会关注。但同时，开始从"幕后"走 向"台前"的直播间主播群体，素质良莠不齐，水平高低不一，为低俗内容留下了野蛮生长的空间。当技 术赋权为低俗内容提供了传播渠道，触手可及的便利性无疑将进一步放大风险。 更难监管，暴露治理体系深层矛盾。网络直播的难管，大多因为直播数据量庞大，人力监管杯水车薪； 特殊语境下的谐音词、隐喻动作，令AI审核频频失守；违规主播频换马甲，"猫捉老鼠"游戏层出不 穷；"低俗"定义缺乏量化标准，众口难调；低俗内容从出现到下架，存在难以弥合的时间差。当技术发 展跟不上网络黑产的迭代速度，监管便陷入被动循环。 更快传播，裂变效应 ...

Core Viewpoint - The article emphasizes the critical role of corporate financial companies in alleviating the financing difficulties faced by small and medium-sized enterprises (SMEs) by leveraging their unique advantages in understanding industries and providing tailored financial services [1][2]. Group 1: Transformation of Corporate Financial Companies - Corporate financial companies are transitioning from traditional fund managers to integrated hubs for industry-finance collaboration, driven by policy guidance and market demand [1][3]. - They utilize their deep understanding of industry chains to offer customized financing and innovative risk control, particularly in key areas such as technology and green finance [1][2]. Group 2: Key Characteristics of Financial Services - Corporate financial companies possess a competitive edge through their understanding of industry costs and characteristics, allowing them to provide financing at lower rates than traditional banks [1][2]. - In the technology sector, loans have increased by 12% year-on-year, while green loans have surged by 27.4% as these companies facilitate low-carbon transitions [2]. - The companies are extending their services to the end of the industry chain, addressing funding shortages for SMEs and transforming the approach to inclusive finance from broad distribution to targeted support [2]. Group 3: Digital Transformation and Service Upgrade - The rise of digital finance is creating new opportunities for corporate financial companies to enhance their services by integrating logistics, information flow, and capital flow into a unified digital credit system [3]. - By automating financial processes and employing big data for risk assessment, these companies are improving financing efficiency and reducing moral hazards [3]. - The implementation of the new management regulations for corporate financial companies is providing clearer directions for industry transformation, with examples of successful integration of resources by companies like Haier and Haier [3][4]. Group 4: Future Directions - Corporate financial companies need to deepen their industry insights, expand their services from individual enterprises to entire industry chains, and enhance their role as strategic partners [4]. - They should leverage technology such as artificial intelligence and blockchain to improve service intelligence and create data-driven financial service models [4]. - Strengthening internal and external collaboration will be essential for maximizing resource efficiency and forming a cohesive service network [4].

需要指出的是，即便是实行市场调节价格的领域，也存在着市场失灵的问题。对此，政府"有形之手"一 个重要功能，就是发挥其对于市场价格的监管和调节作用，特别是在涉及重大公共利益、出现严重市场 失灵的领域，政府须及时出手、积极作为，以法治化手段弥补市场失灵。这么做，有利于从法治层面规 范市场价格秩序，为遏制"内卷式"竞争踩下刹车，也有利于保护消费者和经营者的合法权益，维护公平 竞争的市场环境。 此次价格法修订不是重回计划经济的老路，也不是对自由市场的背离，其核心在于通过构建"竞争友好 型"法治框架，将多年来价格改革的经验成果通过修法予以巩固，实现立法与改革的有机衔接。可以预 见的是，修订后的价格法将与反垄断法、反不正当竞争法一起构成综合高效的法律监管体系，形成协同 整治"内卷式"竞争的合力。 正因为此，修订价格法不仅是适应新形势新变化的需要，也是提高依法治价水平的内在要求。事实上， 经过多年发展，政府在价格领域已不再是单向维度的定价管理，结合近年来《中华人民共和国反垄断 法》《中华人民共和国反不正当竞争法》等执法实践积累，有必要因时因事转向对算法霸权、数据垄断 等行为的系统性回应。从这个意义上看，本次修订涉及的三大方 ...

如今，本届美国政府的能源政策已大体明朗：作为实现美国"能源主导战略"的焦点，油气钻探获得强力 支持，液化天然气（LNG）出口放宽，燃煤发电也获得政策关注，而前一届政府力推的清洁能源产业 政策遭遇逆转。有美国媒体评论称，美国清洁能源产业正在遭受本国政府的"重锤打击"，美国能源转型 蓬勃发展的"黄金时代"基本宣告结束。 2025年1月20日，特朗普再次就任美国总统首日即签署了一系列行政令，其中最吸引眼球的就是宣布美 国进入"国家能源紧急状态"。其目的是终结美国的"绿色新政"，重振传统能源产业，特别是石油和天然 气生产。 紧接着，一系列动作接踵而至：2月，美国政府宣布"在法律允许的最大范围内"取消所有应对全球气候 变化活动；3月，美国环境保护局宣布着手撤销美国数十项重要的环境法规；5月，美国能源部叫停37亿 美元清洁能源项目财政拨款；7月，美国总统签署行政令终止对风能、太阳能等绿色能源的联邦补 贴…… 7月4日，特朗普签署"大而美"税收和支出法案，多项清洁能源优惠政策被取消，包括提前终止清洁能源 税收抵免、取消购买电动汽车税收减免等，成为美国能源政策发生系统性转变的关键信号。 在《美国的能源政策》一书中，美国学者劳 ...

日前召开的中央城市工作会议提出，要推进城市基础设施生命线安全工程建设，加快老旧管线改造升 级。在推动城市高质量发展、建设韧性宜居城市的新阶段，保障城市生命线安全已成为守护城市命脉、 保障发展动能、筑牢人民幸福生活根基的基础性任务。 随着我国城市发展正从大规模增量扩张阶段转向存量提质增效为主的阶段，创新、宜居、美丽、韧性、 文明、智慧等成为城市发展的重要目标。在此背景下，保障城市正常运行和公共安全的关键基础设施 ——燃气、供水、排水、桥梁等"生命线"的升级改造，已不能局限于对单个设施或局部区域的简单修 补，亟需构建覆盖全系统，融合高效率、高安全、智能化和强韧支撑能力的综合运行体系。 从地方实践来看，推进城市生命线安全工程等新型基础设施正被各地视为打造现代化城市的重要抓手。 作为先行省份，安徽已建成"1+16+N"省市县三级监测运行体系，构建覆盖17万公里地下管网的"数据底 座"，实现了对主城区重大风险的精准管控。可见，全面推进城市生命线安全工程正当其时。 实现这一目标，要推动科技、资金与信息三大要素协同发力。要提升科技创新水平，整合产学研优势资 源，构建高效协同的科研平台，加速成果转化与应用落地，使创新真正成为 ...