2026年1月4日，国铁集团召开全国铁路工作会议。摄影/路炳阳 全国铁路固定资产投资创下历史新高。2025年全国铁路固定资产投资破9000亿元，达到9015亿元，同比 增长6%。中国国家铁路集团有限公司（以下简称"国铁集团"）2026年1月4日召开全国铁路工作会议， 国铁集团董事长郭竹学作工作报告，公布上述信息。 （文章来源：中国经营报） 郭竹学称，2025年，全国铁路投产新线3109公里，其中高铁2862公里。铁路投资拉动作用充分显现。国 铁集团以国家"十四五"规划《纲要》确定的102项重大工程铁路项目和"两重"项目为重点，加大实施力 度，长赣高铁等8个项目开工建设，沈白高铁等25个项目开通运营。加快物流基础设施建设，建成铁路 专用线52条。深化工程质量提升行动，强化勘察设计和建设物资质量源头管控，全面推进隧道全工序机 械化施工。截至2025年年底，全国铁路营业里程达到16.5万公里，其中高铁营业里程超5万公里。 就2026年投资目标，郭竹学表示，要全面完成国家铁路投资任务，高质量推进国家重点工程，投产新线 2000公里以上。 交通运输部部长刘伟在会上表示，2025年铁路投资高速增长，铁路投资占比已经达到交 ...

Core Viewpoint - The National Development and Reform Commission (NDRC) has issued the "Action Plan for the Promotion of Recycled Materials," marking China's first dedicated policy for promoting the application of recycled materials, focusing on key sectors such as steel, non-ferrous metals, plastics, and paper [1][2]. Group 1: Objectives and Key Tasks - The Action Plan aims to promote the application of recycled materials in industries with good development foundations and scalable application conditions, including automotive, electronics, batteries, textiles, and packaging [1]. - By 2030, the recycling system for waste will be further improved, with annual recycling volumes of scrap steel and waste paper exceeding 300 million tons and 8 million tons, respectively [1]. Group 2: Environmental Impact - The use of recycled materials is essential for practicing green development and achieving comprehensive green transformation, significantly reducing pollution and carbon emissions from resource extraction and manufacturing processes [1]. - For instance, using electric arc furnaces in the steel industry can reduce carbon emissions by approximately 1.6 tons per ton of steel produced, with reductions in waste gas, wastewater, and waste residue by 86%, 76%, and 97%, respectively [1]. Group 3: Implementation and Oversight - The NDRC will enhance coordination and tracking to ensure the effective implementation of the Action Plan, with a focus on specific plans for key industries and areas [2]. - The NDRC will also strengthen quality management of recycled materials, enforcing standards for performance, safety, and environmental protection, while cracking down on counterfeit and substandard products [2].

Core Insights - The article emphasizes the importance of brand elevation strategies to combat market pressures such as price competition and declining sales, suggesting that companies should focus on enhancing quality, service, and emotional value rather than engaging in price wars [1][3][4]. Price Anxiety Resolution - Price anxiety cannot be resolved through lowering prices, as this leads to a cycle of competitive price reductions. Instead, companies should focus on elevating product quality and service to enhance perceived value [1][2][3]. Sales Pressure Solutions - Sales pressure cannot be alleviated through promotions alone, as consumers may switch to competitors offering better deals. Investing in brand development is crucial for creating a loyal customer base that chooses the brand for its inherent value [3][4][5]. Traffic Issues and External Solutions - Internal traffic issues arise from rising costs and competition for the same target audience. Companies should focus on expanding their reach and educating potential customers about their brand to overcome these challenges [4][5][6]. Importance of Brand Awareness - Effective marketing requires a broad reach to educate potential consumers about the brand's core values. Without significant brand awareness, achieving sales goals becomes increasingly difficult [5][6][7]. Media and Advertising Effectiveness - Reducing marketing expenditures significantly impacts brand activity and sales. Continuous advertising is essential for maintaining brand presence and consumer engagement [6][7][8]. Long-term Brand Strategy - Companies should focus on long-term brand building rather than short-term promotional tactics. A strong brand presence leads to sustainable sales growth and market share [11][12][13]. Consumer Engagement and Touchpoints - Effective media strategies should prioritize high engagement and frequent touchpoints to create lasting consumer memories and influence purchasing behavior [9][10][11]. Brand Value and Market Positioning - Brands must focus on creating a strong market presence and consumer recognition to achieve long-term profitability. This involves identifying core business strengths and eliminating non-essential offerings [14][15][16]. Scenario Creation for Demand - Brands should create scenarios that resonate with consumer needs and emotions to stimulate demand and drive sales growth [15][16][17]. Competitive Strategy - Companies should differentiate themselves from competitors by focusing on unique value propositions rather than merely improving product quality or reducing prices [25][26][27]. Brand Influence on B2B - A strong consumer brand can positively influence B2B relationships, enhancing dealer confidence and driving sales through increased visibility and market presence [27][28][29]. The Matthew Effect in Branding - Strong brands naturally attract more consumer attention and loyalty, leading to a self-reinforcing cycle of growth and market dominance [28].

Group 1: Core Insights - Baidu's subsidiary Kunlun Core has submitted an application for independent IPO, marking a significant strategic move for the company [1][2] - The stock price of Baidu surged by 9.35% in Hong Kong and 15.56% in the US, reflecting strong market enthusiasm for the chip sector [1][2] - The listing of Kunlun Core is expected to enhance its operational transparency and attract targeted investors in the AI computing chip market [2][6] Group 2: Market Context - The Chinese semiconductor industry is experiencing a collective rise, with multiple domestic chip companies successfully entering the capital market [4][5] - Recent IPOs of domestic chip firms have seen extremely high subscription rates, indicating strong investor interest [4][5] - The market is witnessing a restructuring of the AI chip landscape in China, with Kunlun Core positioned as a foundational player in general AI computing [5][6] Group 3: Technological Advancements - Kunlun Core has made significant technological progress, with its P800 chip demonstrating competitive performance and energy efficiency [3][6] - The P800 chip supports configurations of 8 and 16 cards, achieving a maximum throughput of 482 times per second, and is optimized for deep learning models [3][6] - The collaboration between Kunlun Core's chips and Baidu's PaddlePaddle framework enhances inference efficiency by over 30% [3]

中经记者 石健 北京报道 随着"十五五"扬帆开局，近期多个省市针对数据高效流通利用，高质量推动数据集建设发布政策文件。 国家数据局发布数据显示，2024年，全国数据生产量达41.06泽字节，全国数据企业数量超过40万家， 数据产业规模达到5.86万亿元，庞大数据产业的背后，也倒逼数据要素在更大范围、更多领域合规高效 流通和开发利用，全面释放数据要素乘数效应。 赛迪研究院数据领域首席专家、中国计算机行业协会数据流通利用专业委员会常务副会长吴志刚接受 《中国经营报》记者采访时表示，在"十五五"规划承上启下的关键时期，数据资源高效流通利用是释放 数据要素价值的关键，人工智能将成为推动高质量发展的重要引擎。 多地强化部署 2025年12月30日，宁夏回族自治区政府发布消息，宁夏回族自治区首部数据领域地方性法规《宁夏回族 自治区数据条例》将于2026年1月1日起正式施行。该条例以数据要素市场化配置改革为主线，规范数据 全流程管理，旨在推动数据高效流通利用，赋能经济社会高质量发展。 同日，湖北省政府召开"深入推进要素市场化改革 体系化建设要素交易服务平台"工作发布会，提出"要 打造高效流通、开放共享的数据要素服务市场"。 ...

Core Insights - The blood dialysis equipment industry is experiencing a shift from foreign dominance to the rise of domestic brands, with companies like Sanxin Medical leading the charge in domestic innovation and production [3][4]. Industry Overview - The current market is primarily dominated by foreign brands such as Fresenius, B. Braun, Nipro, and Toray, while domestic companies like Sanxin Medical, Weigao, and Jianfan Bio are accelerating the localization of blood dialysis medical devices [3][4]. - The blood dialysis equipment can be categorized into dialysis machines and consumables, with dialysis machines including water treatment devices and consumables comprising dialysis filters, tubing, and needles [5]. Market Dynamics - The blood dialysis filter market is the largest segment, accounting for 36.53% of the market share in 2023, with the performance of dialysis filters directly impacting patient outcomes and survival rates [6]. - Sanxin Medical has developed a domestic production line for hollow fiber dialysis membranes, overcoming previous reliance on foreign technology and achieving large-scale production [6][7]. Technological Advancements - Sanxin Medical has focused on optimizing production processes to ensure consistent quality and performance of dialysis membranes, addressing previous technological bottlenecks that were dominated by foreign companies [7]. - The company has successfully integrated precision processing resources to tackle key technical challenges, breaking the monopoly of foreign technology in the industry [7]. Patient Benefits - The rise of domestic blood dialysis equipment is expected to lower costs for both hospitals and patients, improving accessibility and quality of care for dialysis patients [8]. - The domestic production of key consumables has stabilized supply chains and reduced dependency on imports, enhancing the availability of dialysis services across various healthcare facilities [8]. Pricing and Market Access - The introduction of regional procurement initiatives has led to significant price reductions for dialysis products, with ongoing efforts to stabilize prices while improving quality [8]. - Domestic companies are leveraging competitive pricing strategies to increase market share, thereby alleviating the financial burden on patients requiring long-term dialysis [8]. Future Directions - The future of domestic blood dialysis equipment will focus on intelligent integration and enhanced clinical adaptability, incorporating AI for real-time monitoring and remote maintenance capabilities [9]. - Companies aim to develop personalized treatment options to meet diverse clinical needs, moving beyond traditional dialysis methods [9].

Core Insights - The real estate industry is undergoing a transformation with a focus on urban renewal and the "Good House" concept, which emphasizes quality living environments and sustainable development [1][2][4] Group 1: Urban Renewal - Urban renewal has become a priority, with the 2025 national housing and urban construction meeting highlighting significant progress in this area [1][9] - The Alila Hotel in Shanghai exemplifies urban renewal by transforming a single hotel into a mixed-use complex that integrates business, leisure, and vacation experiences [1][8] - The government is emphasizing urban renewal as a key strategy for stabilizing investment and expanding demand, with plans for comprehensive implementation of related policies [9][10] Group 2: "Good House" Initiative - The "Good House" initiative has gained momentum, with the concept being included in the 2025 government work report and the Ministry of Housing and Urban-Rural Development developing guidelines for its implementation [2][4] - Various local governments are introducing measures to enhance housing quality, focusing on aspects such as indoor space and customer satisfaction [2][3] - Green Town China has launched a comprehensive "Good House Laboratory," showcasing technologies that improve air quality and water comfort, with updated standards that exceed national requirements [4][6] Group 3: Market Trends - The real estate market is showing signs of stabilization, with new residential sales area declining by 8.1% year-on-year in the first eleven months of 2025 [6][7] - The second-hand housing market is experiencing a recovery, with a 2% increase in transaction volume in key cities compared to the previous year [6][7] - The government is taking measures to support the real estate market, including policies aimed at stabilizing expectations and promoting high-quality development [7][10]

文 李立 吴清 2025年，中国互联网商业舞台的中心，被一场前所未有、代价高昂的战役——"即时零售"大战牢 牢占据。 以阿里巴巴、美团、京东为代表的三大巨头，从年初的外卖补贴燃起战火，迅速蔓延至覆盖餐饮、生 鲜、商超、数码乃至美妆服饰的全品类展开近场零售争夺。 这场战争规模之大、卷入之深，几乎重新定义了电商与本地生活的边界，也向市场抛出了一系列尖锐问 题：天量投入换来了什么？这是一个真实可持续的新大陆，还是资本催生的海市蜃楼？血流不止的战 局，2026年又将走向何方？ 账单：战损严重 当三大巨头相继交出2025年第三季度（自然年Q3）的财务成绩单时，市场预期被冰冷的数字证实：这 是一场代价惨烈的消耗战，目前看"没有赢家"。 阿里巴巴以利润换规模，生态协同初显效。阿里2026财年第二季度（对应自然年2025年Q3）营收 2477.95亿元，同比增长5%，但净利润同比下滑53%，经营利润更是同比暴跌85%。核心原因直指对"淘 宝闪购"（即时零售业务）的巨额投入。该季度阿里销售和市场费用高达665亿元，同比激增104.8%。 高投入带来了高增长：即时零售收入达229亿元，同比暴涨60%；淘宝闪购日订单峰值在8月曾达 ...

从2019年起步，到如今上市，壁仞科技六载全"芯"投入国产"芯程"，在通用大算力芯片领域开辟出一条 自主创新之路——自主原创的芯片架构，构建全栈软件生态，引领大算力芯片Chiplet、光互连行业技术 趋势，通过坚持打造原创高性能GPU软硬件体系，实现从高端AI芯片到算力集群的全链路自主可控。 据了解，壁仞科技此次募资规模为55.83亿港元，净额53.75亿港元，募资净额中的约85%将用于研发投 入，重点推进下一代产品迭代与技术创新，约5%用于商业化拓展，10%用作营运资金及一般公司用 途。 壁仞科技招股书显示，2022年—2024年及2025年上半年，公司收入分别为49.9万元、6203万元、3.37亿 元、0.59亿元，年内亏损分别为14.74亿元、17.44亿元、15.38亿元、16.01亿元。 根据招股书，2024年，按收入计，壁仞科技于中国智能计算芯片市场及GPGPU市场分别拥有0.16%及 0.20%的市场份额。按在中国市场产生的收入计，预期中国智能计算芯片市场规模在2025年达到504亿 美元，壁仞科技预期取得约0.2%的市场份额。 中经记者 李玉洋 上海报道 2026年1月2日，"国产GPU四小 ...

Group 1 - In 2025, BAIC New Energy's total sales exceeded 200,000 units, reaching 209,576 units, representing an 84% year-on-year growth [2] - December 2025 saw a monthly sales figure of 35,205 units, marking a 115% increase year-on-year, with three consecutive months surpassing 30,000 units [2] - The "Xiangjie" brand achieved its first monthly sales exceeding 10,000 units in December, becoming the top seller in the luxury new energy sedan segment priced above 300,000 yuan [2] Group 2 - The "Extreme Fox" brand's annual sales surpassed 160,000 units, doubling its sales for three consecutive years, with December sales exceeding 24,000 units, a 103% year-on-year increase [2] - The dual-brand strategy of "Extreme Fox + Xiangjie" significantly propelled BAIC New Energy's performance, leading industry growth [2] - The approval of the Extreme Fox Alpha S (L3 version) by the Ministry of Industry and Information Technology and the issuance of a special license plate for autonomous driving in Beijing validate the company's technological capabilities [2] Group 3 - BAIC New Energy, established in 2009, is a high-tech listed company under BAIC Group and a pioneer in the independent operation of new energy vehicles in China [3] - The company went public in 2018, becoming the "first stock of Chinese new energy vehicles" (stock name: BAIC Blue Valley, stock code: 600733) [3] - The company is focused on developing two main vehicle brands: "Extreme Fox," which targets the mid-to-high-end new energy vehicle market, and "Xiangjie," a luxury flagship brand co-developed with Huawei [3]