在汤哲辉看来，2025年是内地与香港资本市场互联互通新十年的起始之年，两地资本市场进一步深化合 作，加强制度协同、市场互通、产品联动，使得"A+H"的IPO整体表现在全球亮眼。 "纵观过去五年，A股IPO市场完成了从规模扩张向质量优先的转型。放在全球市场，A股IPO数量与去 年基本持平，但筹资额相比去年增长，中国企业在全球十大IPO中占据五席，数量较2024年有所增长， 所属行业分布于汽车、矿业、能源及先进制造。这也标志着A股已进入一个更加成熟的发展阶段。与此 同时，A股含'科'量提升，制度优化同步提质。"汤哲辉接受本报记者采访时指出。 本报（chinatimes.net.cn）记者胡金华 上海报道 在内地科技型企业赴港上市潮加持下，香港IPO夺得全球年度冠军"宝座"几无悬念。 2025年《中国内地和香港IPO市场回顾及展望报告》（下称"报告"）显示，内地和香港全年IPO活动在 全球呈现增长态势，A股和香港市场全年IPO数量和筹资额占全球总量的16%和33%。其中A股市场整体 稳中有进，港交所则以全年360亿美元融资额跃居全球交易所榜首。 "今年A股IPO的新股发行数量与融资规模均同比增长，但其核心已从过去的 ...

他希望中国盲文出版社不断汇聚各方资源和力量，持续提升盲人群体的阅读能力、文化素养和教育水 平，真正让每一个视障孩子都能通过优质文化资源汲取成长力量。 研修班由中国盲文出版社主办，中国视障文化资讯服务中心、金钥匙视障教育研究中心协办。全国政协 常委、中国残联主席程凯出席活动并讲话，中国残联党组成员、副主席张卫星，中国残联执行理事会理 事、中国盲人协会主席李庆忠等同志出席活动。本次研修班以"向新向智拥抱未来"为主题，来自全国各 地的盲校（特校）校长、骨干教师代表聚焦AI赋能盲校教育高质量发展、青少年人工智能教育、智慧 校园建设等热点问题，围绕数智时代视障群体阅读现状、视障教育改革实践等主题进行深入交流研讨。 教育是视力残疾人提高文化素养、全面发展的关键路径，更是他们平等就业、全面融入社会的重要基 石。 中国盲文出版社党委书记、社长赖伟表示，人工智能技术正深度重构知识生产与传播方式，全面重塑出 版、教育等领域的底层逻辑，视障文化教育领域亟待整合资源、精准对接需求。 12月2日，我国首个"视障教育校社服务联合体"在京成立。作为视障文化教育高质量发展研修班的重要 落地成果，联合体的成立将实现全国视障文化教育资源动态对接 ...

本报（chinatimes.net.cn）记者张萌 卢梦雪 北京报道 山西银行迎来重要人事调整。 12月1日，该行发布公告称，原行长李颖耀因工作需要、另有任用，不再担任行长职务。邢毅将接任行 长一职，其任职资格尚待监管机构核准。 同日，该行官网消息显示，山西银行首任行长任凯以党委书记身份出席相关会议，标志着这位"老将"的 再度回归。 截至2025年6月末，山西银行资产总额由上年末的3590.88亿元下滑至3501.97亿元，资本充足率进一步降 至10.51%，仅略高于监管要求的10.5%红线。新一届领导班子甫一上任，即面临多重挑战。 高层更迭 山西银行于2021年4月28日正式挂牌开业，由原大同银行、长治银行、晋城银行、晋中银行和阳泉市商 业银行以新设合并方式组建而成。成立之初，高计亮出任该行党委书记、董事长，任凯担任党委副书 记、副董事长、行长。 2024年5月17日，山西银行发布公告称，任凯不再担任行长职务，拟聘李颖耀为新任行长——这也是该 行成立以来的第二任行长。此后，任凯转任山西农商联合银行党委书记、董事长。 时隔一年半，山西银行行长再度更迭。 2025年12月1日，该行公告称，李颖耀因工作需要、另有 ...

Core Viewpoint - The manufacturing Purchasing Managers' Index (PMI) in November shows a slight recovery to 49.2%, indicating improvements in both domestic and overseas demand, although it remains in a contraction zone for the eighth consecutive month [2][5]. Economic Indicators - The November PMI reflects improvements in 11 sub-indices, including new orders and production expectations, with a composite PMI output index at 49.7%, suggesting overall economic stability [2][5]. - The new orders index increased by 0.4 percentage points to 49.2%, while the production index rose to the critical point of 50.0%, indicating a return to expansion after a contraction [5][6]. Policy Impact - Recent government policies, including the introduction of 500 billion yuan in new policy financial tools and an additional 500 billion yuan in special bonds, are expected to stimulate domestic market demand and infrastructure investment [5][8]. - The positive outcomes from recent US-China trade talks have also contributed to a marginal increase in export orders, with the new export orders index rising by 1.7 percentage points to 47.6%, marking the largest increase in six months [5][6]. Sector Performance - High-tech manufacturing sectors continue to show strong demand, with their PMIs remaining above the critical point for ten consecutive months, while traditional energy-intensive industries are still in contraction [6]. - Specific industries such as agricultural processing and non-ferrous metal smelting are experiencing active demand, whereas sectors like petroleum and chemical manufacturing are lagging [6][7]. Price Trends - The main raw material price index rose by 1.1 percentage points to 53.6%, indicating ongoing expansion since the implementation of "anti-involution" policies [7]. - The Producer Price Index (PPI) is expected to see a slight month-on-month increase, although year-on-year comparisons may still reflect a decline due to higher base effects from the previous year [7][8]. Future Outlook - The construction PMI is anticipated to rise into the expansion zone as the effects of the new policy financial tools and special bonds materialize [8]. - The overall industrial product prices remain subdued, influenced by weak consumer demand and declining real estate investments, with the long-term effects of "anti-involution" policies on prices still under observation [8].

Core Insights - The article emphasizes the growing importance of ESG (Environmental, Social, and Governance) information disclosure as a key measure of corporate value and high-quality development in the context of global sustainable development trends [2][4]. Group 1: ESG Disclosure and Research Findings - A special research group led by the Beijing Institute of Certified Public Accountants has released a report on the current state of ESG information disclosure and practices in China, based on surveys of 136 listed companies and 29 non-listed companies, along with in-depth interviews with 8 firms [2]. - The report identifies key challenges in ESG management and information disclosure, focusing on the quality of disclosure and internal coordination mechanisms [2][5]. Group 2: Policy and Regulatory Framework - Beijing has become the first pilot region in China for sustainable information disclosure, aiming to enhance the credibility of disclosures and integrate sustainable performance into government procurement considerations [3]. - The Chinese Institute of Certified Public Accountants has introduced a draft guideline for sustainable information assurance, which is expected to be formally released by the end of the year, providing a framework to improve the quality of ESG disclosures [6]. Group 3: Challenges and Recommendations - Two main challenges in ESG practices are highlighted: the need for improved quality of information disclosure and insufficient coordination between ESG management and disclosure [5]. - Recommendations include enhancing mandatory disclosure requirements, integrating ESG into corporate strategies, and establishing standardized ESG consulting and assurance services [5].

Core Viewpoint - China's economy in 2025 is at a critical juncture, showcasing resilience and a strong foundation for sustainable growth despite global uncertainties [1] Group 1: Economic Performance - The economy achieved a growth rate of 5.2% in the first three quarters, reflecting its ability to navigate challenges and maintain momentum [1] - The focus is on high-quality development, emphasizing the need for vitality, resilience, innovation, and effective empowerment [1] Group 2: Forum Overview - The 19th Huaxia Institutional Investor Annual Conference will be held on December 12, 2025, in Beijing, centered around the theme "Vitality and Resilience, Innovation and Empowerment" [1] - The forum aims to gather insights from various experts to explore how to activate market vitality and enhance collaborative effects within the industrial ecosystem [2] Group 3: Resilience and Innovation - Resilience is defined as the ability to withstand pressure and adapt, stemming from a large domestic market, a complete industrial system, and flexible policy adjustments [3] - The forum will discuss how to build a more resilient financial system and industrial ecosystem to ensure stable long-term development [3] - Innovation is highlighted as a means to break traditional dependencies, with financial technology reshaping the industry and driving new products and services [3] Group 4: Empowerment - Empowerment involves optimizing resources and capabilities to enhance overall value, with financial institutions playing a crucial role in supporting economic growth and structural optimization [4] - The forum will feature high-level dialogues and case studies to analyze practical empowerment strategies and the creation of a new financial and industrial landscape [4] Group 5: Future Outlook - The conference serves as a platform for sharing insights on macroeconomic trends, financial technology, investment strategies, and collaborative value creation [5] - 2025 is seen as a pivotal year for adapting to changes in the global economy while maintaining a commitment to high-quality development and sustainable economic ecosystems [5]

据参考消息援引《日本经济新闻》网站12月2日报道，日本央行行长植田和男1日强烈暗示将于12月加 息，当天日经指数应声下跌近1000点，随后开市的美股同样延续震荡行情。 11月下旬，彭博社和路透社接连发表了题为"抛售日本"的文章，提及日本的财政困境。日本政府的债务 规模目前已超国内生产总值（GDP）的200%，在发达国家中最为严重。 日本两年期国债对货币政策预期尤为敏感，其收益率当天一度上升2.5个基点至1.015%。5年期和10年期 国债收益率分别上涨至1.382%和1.858%，涨幅至少6.5个基点。 另一方面，日元对美元汇率当天走强，一度上涨至1美元兑换155.4日元。 报道称，虽然日本央行终于再次开始加息，但看不到这与政府积极财政政策之间的一致性。 "都给我闭嘴！把钱都投到我这儿来！"在12月1日东京举行的国际投资会议上，日本首相高市早苗援引 了动漫《进击的巨人》中主角的一句台词。报道称，虽然她的本意是鼓励对日投资，但鉴于当前形势， 这番话也存在被错误解读的风险。 据极目新闻报道，记者注意到，高市早苗此言一出，引来不少网友反讽。有网友留言："动漫里说这句 话的人，下一幕就被别人踹了。"也有网友吐槽高市早 ...

| | 全国县域综合竞争力100强县(市)与400样本比较 | | | | --- | --- | --- | --- | | 指 标 | 单位 | 全国县域综合竞争力百强县(市) 全国400样本县(市) | | | GDP总额占全国比重 | કર | 10.15 | 20.74 | | 一般公共预算收入总额占全国比重 | તેર | 3.93 | 7.6 | | GDP平均规模 | 亿元 | 1369 | 700 | | GDP总体增长率 | તેર | 6.29 | 5.95 | | 人均GDP | 元 | 139249 | 94652 | | 人均一般公共预算收入 | 元 | 8785 | 5646 | | 一般公共预算收支比率 | 14 | 70.43 | 52.14 | | 一般公共预算收入占GDP比重 | રેર | 6.31 | 5.96 | | 城镇居民可支配收入 | 元 | 61752 | 49693 | | 中学在校生占常住人口比重 | તેર | 5.18 | 6.04 | | 小学在校生占常住人口比重 | તિ | 7.27 | 7.8 | | 千人医疗机构床位数 | ડેસ્ | 5 ...

| 全国综合竞争力百强主城区与百强新城区比较 | | | | | --- | --- | --- | --- | | 指 标 | 单位 | 全国百强主城区 全国百强新城区 | | | GDP总额占全国比重 | તેર | 19.11 | 11.49 | | 一般预算收入总额占全国比重 | તેર | 6.97 | 4.76 | | 一般预算支出总额占全国比重 | તેર | 5.72 | 5.63 | | GDP平均规模 | 亿元 | 2577.5 | 1550.7 | | GDP总体增长率 | તેર | 4.95 | 4.91 | | 人均GDP | 元 | 221,259 | 128.650 | | 人均一般公共预算收入 | 元 | 13.151 | 8.670 | | 一般公共预算收入占GDP比重 | તેર | 5.94 | 6.74 | | 一般公共预算收支比率 | તેર | 94.2 | 65.2 | | 城镇居民可支配收入 | 元 | 76.992 | 64.256 | | 小学在校生占常住人口比重 | તેર | 6.64 | 5.91 | | 中小学在校生比率 | 比率 | 0.58 | ...

Core Viewpoint - The beverage industry is transitioning from a phase of rapid growth to a focus on capacity layout competition, with leading companies shifting their strategic emphasis from marketing and channel battles to supply chain efficiency and regional penetration [2][4]. Group 1: Company Developments - The newly completed production base of Wanglaoji in Lanzhou represents a significant addition to China's beverage industry capacity upgrade map, featuring highly automated production lines operating in a sterile environment [2][3]. - The Lanzhou production base is Wanglaoji's fourth self-owned facility, with a total investment of 350 million yuan, covering an area of approximately 100 acres, and an annual production capacity of about 6.5 million standard boxes [3][4]. - Wanglaoji aims to establish the Lanzhou base as a national-level green factory and intelligent manufacturing demonstration factory, leveraging local resources and geographical advantages to strengthen its supply chain network [4][5]. Group 2: Strategic Significance - The Lanzhou base is strategically positioned to enhance Wanglaoji's domestic and international supply chain systems, facilitating access to the Central Asian market and supporting the Belt and Road Initiative [5][6]. - Wanglaoji has expanded its international presence, covering over 100 countries and regions, and has maintained its position as the world's top seller of natural plant beverages for five consecutive years [5][6]. Group 3: Industry Trends - The expansion of Wanglaoji's production capacity reflects a broader trend among beverage giants in China, as they collectively embark on capacity expansion amid intensifying competition [6][7]. - The beverage industry is experiencing a shift in competitive logic, moving from aggressive market expansion to a focus on production efficiency and supply chain optimization, as companies adapt to slowing growth and increased competition [7][8]. - The current expansion wave is not limited to traditional beverage companies; some liquor companies are also exploring entry into the beverage sector, although this diversification is still in its early stages [6][7].