12月13日，上海张江科学会堂内科技感拉满，全球开发者先锋大会暨国际具身智能技能大赛（GDPS 2025） 正式拉开帷幕。 图灵奖得主、中国科学院院士、大赛指导委员会主任姚期智深刻阐述了具身智能发展的关键方向，并分享了四点前瞻性见解： 首先，要从模仿走向推理。 当前方法多依赖模仿，缺乏可解释的世界模型和物理因果推理。未来应把推理、规划、控制置于同一闭环框架中。 其次，要从数据匮乏走向数据飞跃。 具身数据采集成本高，需探索新的数据收集技术，构建可规划、可规模化的数据工厂，验证具身智能的规模化路 径。 第三，要从局部技能到全身协同。 现有机器人的运动能力与操作能力仍是两套系统，未来需统一全身控制与手部精细操作规划，以支撑多步骤通用技 能。 本届大会以"开发者，找找找"为主题，云集全球顶尖开发者、科研团队与行业领袖，核心目标是推动人工智能从虚拟算法迈向实体落地应用，深度探索 人机协同发展的未来路径。这既是一场聚焦前沿技术的巅峰竞技，更是一次锚定具身智能发展方向的集中研讨与前瞻布局。 现场，浦东新区支持人工智能创新创业发展若干措施正式发布，以精准的政策工具包，为全球先锋开发者与创新企业提供了扎根上海的第一重保障，展 ...

值得关注的是，"上海湾区2026年旅游联票"还将上海乐高乐园度假区一日门票纳入其中，发布后即 引发市民游客的广泛关注与踊跃咨询。金山正以主动对接、联动布局的姿态，着力将乐园带来的"流 量"转化为带动消费的"留量"，从而真正把溢出效应转化为发展动能。 为进一步激活消费市场，金山区还以 "线上 + 线下" 双线联动为抓手，不断拓宽推广与销售渠道， 推动文旅消费热度持续攀升。 记者从上海金山区获悉，"上海湾区滨海旅游年票"正式上线。据悉，该年票不仅整合了上海金山及 周边多个优质景点与特色活动资源，还以"一票联动"的形式，为市民游客开启2026年一整年的畅游体 验，生动展现了金山文旅农商体展融合发展的创新成果。 据介绍，全新推出的"上海湾区滨海旅游年票"，不仅涵盖城市沙滩、金山嘴渔村、山阳田园等金山 滨海地区多个景点的全年无限次畅游权益，更将闻道园、海上花岛前卫村、上海游龙石文化科普馆等跨 区域优质资源纳入其中，为市民游客打造了一张贯通滨海风光与人文体验的"魔都后花园"旅游通行证。 此外，年票还涵盖了6份特色活动体验券，涵盖城市沙滩大坝观光游览、山阳田园精品民宿住宿抵 扣、金山嘴渔村中草药香囊手作体验、山阳田园音乐餐 ...

Group 1 - The U.S. Department of Defense reported that two U.S. Army soldiers and one American civilian translator were killed in Syria due to an attack by ISIS militants, with three others injured [1] - President Trump stated that the attack represents a direct assault by extremist organizations against the U.S. and Syria, promising retaliation [1] - A spokesperson for the Syrian transitional government's interior ministry revealed that the attacker was a possibly extremist-leaning Syrian security personnel, who was under evaluation for extremist views [1] Group 2 - The Syrian transitional government condemned the terrorist attack, which occurred during a joint patrol with U.S. forces in Homs province [2] - Following the attack, injured personnel were evacuated to the Tanf military base, and the road connecting Deir ez-Zor province and Damascus was temporarily closed [2] - The U.S. military has been deployed in Syria since 2011 without the permission of the then-central Syrian government, with current bases in southern Tanf and northeastern Syria [2]

Core Insights - The stock private equity position index reached a record high of 82.98% as of December 5, marking a significant increase and remaining above 82% for three consecutive weeks [1][3]. Group 1: Stock Private Equity Trends - The stock private equity position index has shown a notable upward trend this year, rising from 73.54% at the end of 2024 to the current peak of 82.98%, reflecting a cumulative increase of 9.44% [3]. - Since August 2025, there has been a particularly strong trend of increasing positions, with the index rising by 9.05% in just four months, indicating a clear signal of active participation from private equity institutions [3]. - Approximately 68.80% of stock private equity firms are fully invested, while 18.41% maintain moderate positions, demonstrating a strong bullish sentiment [3]. Group 2: Position Distribution Among Private Equity Firms - The data shows that as of December 5, 2025, all scales of private equity firms have surpassed an 80% position index, with firms managing over 10 billion reaching 89.02%, approaching the critical 90% mark [3]. - Private equity firms with assets between 5 billion and 10 billion also exhibit strong bullish intentions, with a current position index of 86.17%, contributing significantly to market accumulation [3][4]. Group 3: Performance of Large-Scale Private Equity Firms - Large-scale private equity firms have demonstrated particularly aggressive accumulation, with firms managing between 5 billion and 10 billion seeing a year-to-date increase of 21.95%, the highest in the industry [4]. - Firms managing over 10 billion also significantly increased their positions by 18.75% this year, indicating a strong confidence in future market performance [4]. Group 4: Market Sentiment and Future Outlook - Nearly 80% of large private equity firms are fully invested, with 76.78% of firms managing over 10 billion in a full position, reflecting strong confidence in future market trends [6]. - The ongoing macroeconomic policy implementation and gradual recovery of the economic fundamentals have highlighted the long-term investment value in the A-share market [6]. - Private equity firms are actively adjusting their holdings to capture year-end performance opportunities and anticipate economic recovery in the coming year, driven by a trend of asset migration towards capital markets [6].

Group 1 - The Central Economic Work Conference held on December 10-11 in Beijing summarized the economic work for 2025 and systematically deployed the economic work for 2026, emphasizing the need to fully tap economic potential and combine policy support with reform and innovation [1] - Multiple public fund companies expressed optimism about the policy signals released during the conference, believing that the capital market in 2026 will still present investment opportunities, particularly in areas such as domestic demand, technological innovation, and combating "involution" [1][3] Group 2 - The conference indicated a continuation of a proactive policy stance, with a focus on the effectiveness of macroeconomic policies, maintaining a necessary fiscal deficit, and optimizing fiscal expenditure structure [3] - Fiscal policy is expected to remain "more proactive," with a similar expansionary effort in 2026 as in 2025, potentially maintaining a historical deficit target of 4% [3][4] Group 3 - Monetary policy is anticipated to continue with an "appropriate easing" approach, emphasizing the dual support for economic stability and reasonable price recovery, which may allow for further interest rate cuts and reserve requirement ratio reductions [4] - The combination of "loose fiscal and monetary" policies is expected to provide a relatively ample liquidity environment for the capital market, creating favorable conditions for equity asset valuation recovery [4] Group 4 - The conference outlined key tasks for 2026, including a focus on domestic demand, innovation-driven growth, and addressing "involution," which are expected to be the main investment themes for the capital market [6][7] - There is significant potential for service consumption recovery, particularly as per capita GDP rises, and policies aimed at "investing in people" are expected to further open up service consumption opportunities [6][7] Group 5 - The emphasis on "new quality productivity" driven by technological innovation is expected to accelerate the transformation of traditional industries and support the development of strategic emerging industries, with a focus on areas like artificial intelligence, new energy, and new materials [7][8] - The deployment to boost consumption in 2026 is likely to provide rich investment opportunities in sectors such as elderly care, cultural tourism, and new infrastructure [8] Group 6 - The conference highlighted the need for continuous deepening of capital market investment and financing reforms, which may enhance the investment value and attractiveness of the A-share market [10] - Public funds are expected to play a significant role in attracting long-term capital and should leverage policy opportunities to improve long-term assessment mechanisms and professional investment advantages [10][11]

Market Overview - A-shares experienced a significant increase on December 12, with trading volume exceeding 2 trillion yuan, reaching 2.12 trillion yuan, a rise of 233.7 billion yuan from the previous day [2][9] - The Shanghai Composite Index rose by 0.41% to 3889.35 points, while the ChiNext Index increased by 0.97% to 3194.36 points [2] Sector Performance - The power equipment sector saw a surge, with 19 stocks hitting the daily limit, including Zhongneng Electric and Tongguang Cable, which both rose by nearly 20% [6][7] - Technology stocks, particularly in controllable nuclear fusion, high-bandwidth memory, superconductors, and fourth-generation semiconductors, performed strongly, while consumer sectors lagged due to a lack of performance inflection points [4][9] - Among 31 first-level industries, 21 sectors recorded gains, with notable increases in non-ferrous metals, electronics, power equipment, machinery, communication, and defense industries, all exceeding 1% [5] Investment Sentiment - The central economic work conference has positively influenced market sentiment, signaling supportive macro policies that bolster investor confidence [9][10] - The adjustment of the CSI 300 index components has led to increased passive investment in technology and communication sectors, further enhancing market sentiment [10] Future Outlook - Analysts suggest that the A-share market may continue its upward trend, supported by ongoing positive policy signals and active performance in technology sectors [11][12] - Structural opportunities are expected to arise, particularly in technology, new energy, and communication sectors, as well as in areas benefiting from policy support and domestic substitution [12]

Core Viewpoint - The A-share market experienced a significant increase in trading volume, driven by positive signals from the Central Economic Work Conference, although there remains notable sector differentiation in performance [1][9]. Market Performance - The trading volume reached 2.12 trillion yuan, an increase of 233.7 billion yuan from the previous day, with the Shanghai Composite Index rising by 0.41% to 3889.35 points and the ChiNext Index increasing by 0.97% to 3194.36 points [2]. - A total of 2683 stocks rose, with 83 hitting the daily limit up, while 2612 stocks fell, with 26 hitting the daily limit down [6][7]. Sector Analysis - Technology stocks, particularly in power equipment, communication, and defense industries, saw strong performance, with 21 out of 31 sectors rising, including notable gains in non-ferrous metals, electronics, and power equipment [4][9]. - The power equipment sector experienced a surge, with 19 stocks hitting the daily limit up, indicating strong investor interest [7]. Investment Trends - The Central Economic Work Conference emphasized support for technology innovation and new energy sectors, which has led to increased investment in related stocks, particularly in power equipment and communication sectors [9][10]. - The market sentiment is expected to remain positive, with potential for a "slow bull" market trend, driven by continued policy support and sector performance [10][11]. Future Outlook - Analysts suggest that the market may continue to experience fluctuations, with a focus on sectors that align with policy support, particularly technology and cyclical industries [11][12]. - The upcoming spring market is anticipated to focus on sectors with significant growth potential, such as communication equipment benefiting from AI infrastructure and semiconductor industries supported by domestic substitution policies [12].

Core Viewpoint - The Ministry of Commerce and the General Administration of Customs announced the implementation of export license management for certain steel products starting January 1, 2026 [1] Group 1: Regulatory Changes - Certain steel products will be included in the export license management catalog [1] - Exporters of these products must apply for export licenses with contracts and quality inspection certificates from manufacturers [1] - Export licenses will be issued by provincial commerce departments or designated municipal departments based on the location of the exporter [1] Group 2: Implementation Details - The announcement will take effect on January 1, 2026 [1] - The management of export licenses will follow the guidelines set forth in previous announcements by the Ministry of Commerce and the General Administration of Customs [1]

随着GDP即将突破万亿元大关，温州正迎来城市发展的关键跃升期。 产业与创新领域，依托民营经济优势，重点布局智能装备、生命健康、新能源等战略性新兴产业， 提出打造超两千万大孵化器集群、建成人工智能创新发展先行市等目标，推动产业向高端化、智能化、 绿色化转型。另外，生态与公共服务领域，坚守"山江海"生态基底，推进基本公共服务一体化改革，让 都市圈既有"规模"更有"温度"。 按照规划，温州将打造交通圈、科技圈、产业圈、生态圈、公共服务圈于一体的都市圈功能体系， 强化与台州、丽水及闽北地区的设施互通、产业协作，高水平建设温台海洋经济产业带，引领浙南闽北 赣东更大范围协同发展，打造长三角"南大门"与对接闽台海西"桥头堡"。 据专家测算，温州都市圈可涵盖温州全域及周边24个县（市、区），区域规模超过多个现有国家级 都市圈，发展潜力巨大。 徐浩平分析，温州地处浙南闽北赣东交汇地带，既面临长三角一体化与海西经济区双重辐射，也存 在区域发展不均衡的挑战。都市圈战略通过构建"六大共同体"与"1小时通勤圈"，打破行政边界限制， 推动要素自由流动与产业错位发展，既能放大民营经济优势，又能激活周边区域发展动能，形成"核心 引领、全域联 ...

12月11日，渣打银行召开全球及中国经济展望线上媒体座谈会。渣打银行大中华区及北亚首席经济 学家丁爽指出，随着外部环境变化，中国的经济工作已经从短期的风险应对模式转换成长期的经济转型 模式，更加倾向于通过技术投资、产业升级培育新的经济增长点。 消费方面，服务消费预计保持平稳增长；商品消费受此前"以旧换新"政策带动的部分需求提前释放 影响，增速或出现小幅回落。 投资方面，2026年作为"十五五"规划开局之年，财政资金对基建投资的投入将有所增加；制造业投 资在政策引导下有望得到恢复；服务业投资受益于对内对外开放将持续深化；房地产投资或仍将负增 长。综合来看，投资对GDP的贡献有望小幅上升。 具体而言，财政政策方面，丁爽预计2026年赤字率将回落至3.8%，广义财政赤字占GDP比重将回 调至8.5%，中央和地方政府的一般债、专项债发行规模预计仍接近2025年水平。 "适度宽松的货币政策更多是配合财政政策，降息空间相对有限。"丁爽预计，2026年一季度将降准 25个基点；二季度将降息10个基点，更多发挥信号作用。同时，央行在二级市场买卖国债的操作将常态 化，以此保持流动性合理充裕。 在部署2026年重点任务时，中央经 ...