Core Viewpoint - The Chinese automotive industry is facing multiple structural changes after a period of internationalization benefits, with challenges such as geopolitical conflicts and market saturation. However, ambitious Chinese automakers, exemplified by Geely Holding, are striving to become global leaders by 2030, targeting over 6.5 million in global sales and over 1 trillion yuan in revenue, aiming to rank among the top five global automakers [1][3]. Group 1: Global Expansion Strategy - Geely Holding is transitioning from a traditional export model to a global operational strategy, focusing on establishing a "brand base" in key markets like Southeast Asia, where it plans to create a complete "industrial ecosystem" [3][4]. - The "AHTV Industrial Park" project aims to achieve a production capacity of 500,000 vehicles by 2035, with 50% for export, and to develop a supply chain system for 1 million parts, also with 50% aimed at global markets [4]. - In developed markets like Europe and North America, Geely is adopting a "high-end social circle" strategy, leveraging partnerships with Volvo and Renault to achieve scale [4]. Group 2: Technological Innovation - Geely is focusing on core technological capabilities to build a competitive edge, emphasizing innovation in areas such as AI, smart driving, and battery technology [8][9]. - The company aims to shorten R&D cycles and reduce costs through a shared technology platform across seven key areas, enhancing its competitive position in the global market [9]. - Geely's advancements include the "ShenDun JinZhuan" battery safety standards and the development of the world's most efficient mass-produced hybrid engine [10]. Group 3: ESG Commitment - Geely is positioning itself as a leader in ESG (Environmental, Social, and Governance) practices, which are becoming crucial for international market competitiveness [12][14]. - The company has implemented a carbon management platform and established numerous green factories, aiming to meet international standards and enhance its reputation [12][14]. - Geely's commitment to sustainability includes plans to integrate green materials into its product lifecycle and promote carbon neutrality across its operations [14]. Group 4: Market Performance - Geely's sales reached 4.116 million units in 2025, marking a 26% year-on-year increase, with electric vehicle sales growing by 58% and achieving a penetration rate of 56% [11]. - The company has become the fastest-growing among the top ten automotive groups globally, highlighting its successful adaptation to market demands [11].

【洛阳钼业完成巴西金矿项目交割 涉黄金资源量逾500万盎司】#专家普遍看好黄金中长期走势##避险 情绪集中释放推升金价# 1月25日，洛阳钼业（603993.SH、03993.HK）宣布完成对此前披露的巴西金矿 项目收购的交割。 2025年6月，洛阳钼业完成对厄瓜多尔奥丁金矿的并购，正式布局黄金资源。巴西金矿资产是洛阳钼业 在黄金领域的又一重要布局，有利于推动其"铜+黄金"战略落地。 洛阳钼业方面表示持续看好黄金市场前景，目前正在积极寻找更多扩张机会。其于1月19日发行12亿美 元可转债，为后续并购提供更加充足的资金，未来将持续加强资源获取，推动黄金业务的长期稳健发 展。#银价狂飙的原因找到了##洛阳钼业 sh603993[股票]# 中经记者 李哲 北京报道 《中国经营报》记者获悉，洛阳钼业于2025年12月15日披露，计划以最高10.15 亿美元收购加拿大 Equinox Gold公司在巴西的Aurizona 金矿、RDM 金矿及Bahia综合体三项金矿资产（四座矿山）的100% 权益，该交易已于1月23日正式完成。 洛阳钼业方面表示，上述金矿资产包含黄金资源量501.3万盎司（约156吨），平均品位1.8 ...

Group 1 - The core idea is to leverage local football leagues like "Chuchao" to stimulate consumption, upgrade industries, and reshape city branding in Hubei province [1][2][3] - The proposal for "Chuchao" has gained significant support, with 113 committee members co-signing it, indicating strong interest in developing a provincial-level football league [2] - The initiative aims to create a high-level football event that reflects Hubei's characteristics and has a national impact, serving as a new engine for consumption [3][5] Group 2 - The proposal includes a comprehensive competition system covering professional, amateur, and youth levels to ensure year-round events, promoting local tourism and economic growth [5] - The strategy emphasizes transforming "sports traffic" into "economic growth" through various integrations, such as "sports + culture" and "sports + commerce," to enhance consumer experiences [5][6] - A monitoring system for the economic and social benefits of the events is suggested to continuously optimize operations and achieve dual goals of consumption stimulation and cultural output [6] Group 3 - Hubei aims to become a world-class cultural tourism destination, focusing on deep integration of culture and tourism while addressing existing shortcomings in resource utilization and digital technology application [7][8] - The proposal includes four key strategies: enhancing diplomatic, technological, educational, and cultural branding to promote Hubei's tourism and cultural identity [9][10][11][12] - Specific initiatives include international cultural exchanges, digital transformation of tourism, development of educational tourism centers, and promotion of Hubei's rich cultural heritage [9][10][11][12]

（文章来源：中国经营报） 国家税务总局利用税收大数据对消费情况进行跟踪分析。结果显示，2025年，办理离境退税的境外旅客 数量同比增长305%，退税商品销售额同比增长95.9%，退税额同比增长95.8%。全国新增大连、湖北、 吉林、贵州、内蒙古、山西、青海7个政策实施地区，离境退税商店达12930家，其中提供"即买即退"服 务的超7000家。 随着降低离境退税"起退点"、调高现金退税限额、放宽商店备案条件并简化备案流程、推广离境退 税"即买即退"等举措的落地实施，"入境游"购物体验持续优化，入境消费潜力有效激发。 ...

数字经济快速发展为乡村振兴提供了新机遇。"十五五"规划建议提出，"加快农业农村现代化，扎实推 进乡村全面振兴""深入推进数字中国建设""全面实施'人工智能+'行动，全方位赋能千行百业""健全财政 优先保障、金融重点倾斜、社会积极参与的多元投入格局，确保乡村振兴投入力度不断增强"。 在2026年福建两会期间，福建省政协委员、中国侨联委员、北京凯视达科技股份有限公司联席董事长陈 伟对《中国经营报》记者表示："数字中国建设起源是数字福建，我认为深入实施数字乡村发展行动， 以数字化赋能乡村产业发展、乡村建设和乡村治理应是福建省推进乡村全面振兴的重要课题。" 引侨资侨智，投资于人 乡村振兴聚焦产业、人才、文化、生态、组织"五个振兴"，强调以科技创新与制度改革为双轮驱动，提 升农村公共服务与治理效能。 陈伟指出，福建乡村优质特色产业、产品和服务"走出去"，也要积极链接中国侨智发展大会这类交流互 动、学术与创新成果展示、人才项目资本对接平台，以侨为"桥"，助力乡村振兴重点帮扶区县地标农产 品品牌、地域性非遗文化走出家乡、走向世界。 为此，陈伟建议，要引入专项侨资扶持福建乡村振兴人才，激励各类专业人才下乡服务和创业就业；搭 ...

Group 1 - Tesla's CEO Elon Musk predicts that Optimus, Tesla's humanoid robot, will surpass the best human surgeons within three years on a large scale [1] - Meng Qinghu, a professor at Southern University of Science and Technology, disagrees with Musk's assertion, stating that it is impossible to achieve such advancements in three to five years due to limitations in data and hardware capabilities [1] - Meng emphasizes that current AI models, particularly in robotics, are still limited in their ability to perform complex tasks autonomously and require significant improvements in precision and dexterity compared to humans [1] Group 2 - There is a common misconception that large models, such as ChatGPT and others, are capable of performing complex physical tasks, while in reality, they are primarily effective in text generation [2] - Meng clarifies that the current AI models are primarily two-dimensional and lack the three-dimensional understanding necessary for advanced image processing, which contributes to their limitations in physical interactions [2] - The development of "scene intelligence" is proposed as a more practical approach for AI applications, focusing on solving specific problems efficiently with minimal computational resources [3] Group 3 - Meng argues that achieving general artificial intelligence (AGI) requires transforming all scenarios into intelligent systems, which is currently hindered by a lack of high-quality data [4] - He suggests that the term "scene intelligence" should replace "general models," as it can address specific issues immediately, while general models remain constrained by data and hardware limitations [4] - Meng predicts that the capability for robots to perform surgeries successfully may take five to ten years, likely involving a combination of humanoid robots and AI agents working alongside human experts [4]

Core Viewpoint - In 2025, consumption continues to play a crucial role as the "main engine" of economic growth in China, with the total retail sales of consumer goods surpassing 50 trillion yuan for the first time, reaching 50.1 trillion yuan, and contributing 52% to GDP growth [1][2]. Group 1: Consumption Market Highlights - Durable goods consumption is experiencing rapid growth, driven by the old-for-new policy, with retail sales of household appliances, communication devices, and furniture increasing by 11%, 20.9%, and 14.6% respectively; passenger car retail volume rose by 3.8% [2]. - New types of consumption are thriving, with digital, green, and health consumption gaining momentum, and new business formats and models emerging; online retail sales of physical goods grew by 5.2%, and the market penetration rate of new energy passenger vehicles reached 53.9% [2]. - Rural consumption is becoming more active, with retail sales of consumer goods in rural areas reaching 6.8 trillion yuan, a year-on-year increase of 4.1%, outpacing urban growth by 0.5 percentage points [2]. - Inbound consumption is on the rise, with the expansion of visa-free countries and the optimization of tax refund policies; sales of tax refund goods nearly doubled, and the number of visa-free foreign visitors increased by nearly 30% within a year of implementing the 240-hour visa-free transit policy [2]. Group 2: Policy and Activity Initiatives - In 2026, there will be an emphasis on enhancing consumer welfare, optimizing the old-for-new policy for durable goods, and promoting automotive consumption through pilot reforms; a trial for prize invoices will be initiated, and practical policies to stimulate the economy will be introduced [3]. - The focus for 2026 will be on three themes: product consumption, service consumption, and consumption scenarios, with over 20 "Buy in China" themed activities planned, and support for local "station" activities to create a vibrant consumption atmosphere [3]. - Efforts will be made to improve the consumption environment, accelerate the cultivation of international consumption center cities, and promote pilot projects for new consumption formats and scenarios, aiming to create attractive new consumption experiences for both domestic and international consumers [3].

《意见》提出，要创新运营管理模式。支持地方政府因地制宜选择城际铁路运营管理模式，支持具备条 件的轨道交通企业获取运营资质，自主运营城际铁路，设立调度指挥中心，构建运营网络。建立公开透 明、公平合理的清算机制，推动地方自主运营的城际铁路与干线铁路跨线可持续运营。 广州地铁集团有限公司董事长刘智成表示，跨线运营可显著提升网络运输效率。城际列车驶入国铁干 线，将为国铁干线注入来自城市群的"毛细血管"客流。干线铁路接入城际线网，能够快速实现高铁进中 心城区，实现跨系统、跨区域直达或便捷联程。 在刘智成看来，清分清算机制能够消除各方后顾之忧、建立长期稳定的信任关系，是跨线运营合作的关 键。他建议，规范客流统计、票务收入、运营成本等核心数据采集标准，通过系统接口实现数据实时同 步，确保核算依据的一致性与真实性。要设定清晰的收益划分比例，跨线运营的票务收入可综合考虑线 路使用里程、实际客流贡献率、各方服务投入成本等多重因素进行综合核算。同时，清分规则还须具备 特殊场景适配能力，针对节假日大客流、临时加开列车等特殊情况，预设弹性清分系数或补充协议，保 障各方合理权益。 国家发展改革委近日发布《关于推进城际铁路健康可持续发展的 ...

Group 1 - The dual-camera handheld gimbal camera is speculated to be DJI's unreleased Pocket 4, which may include a telephoto lens based on the Pocket 3 [1] - Liu Jingkang, the founder of Ying Shi, suggested on Weibo that the camera might not be from DJI [1] - The dual-camera handheld gimbal camera is confirmed to be from Ying Shi Innovation, as reported by sources [3] Group 2 - Liu Jingkang previously shared a video on January 8, 2026, featuring a handheld gimbal camera similar to DJI's Osmo Pocket, but with two cameras and smart tracking capabilities [3] - Competing brands such as Vivo, OPPO, and Honor are rumored to be launching similar handheld gimbal camera products, indicating an impending market competition [3]

中经记者 李哲 北京报道 1月25日，洛阳钼业（603993.SH、03993.HK）宣布完成对此前披露的巴西金矿项目收购的交割。 《中国经营报》记者获悉，洛阳钼业于2025年12月15日披露，计划以最高10.15 亿美元收购加拿大 Equinox Gold公司在巴西的Aurizona 金矿、RDM 金矿及Bahia综合体三项金矿资产（四座矿山）的100% 权益，该交易已于1月23日正式完成。 2025年6月，洛阳钼业完成对厄瓜多尔奥丁金矿的并购，正式布局黄金资源。巴西金矿资产是洛阳钼业 在黄金领域的又一重要布局，有利于推动其"铜+黄金"战略落地。 洛阳钼业方面表示持续看好黄金市场前景，目前正在积极寻找更多扩张机会。其于1月19日发行12亿美 元可转债，为后续并购提供更加充足的资金，未来将持续加强资源获取，推动黄金业务的长期稳健发 展。 （编辑：董曙光 审核：吴可仲 校对：颜京宁） 洛阳钼业方面表示，上述金矿资产包含黄金资源量501.3万盎司（约156吨），平均品位1.88克/吨；黄金 储量387.3万盎司（约120吨），平均品位1.45克/吨。预计该资产2026年将实现6—8吨黄金的产量。 洛阳钼业董事长兼 ...