Core Insights - The central state-owned enterprises (SOEs) in China have made significant progress in high-quality development during the "14th Five-Year Plan" period, achieving historical accomplishments in reform, development, and party building [1][3] Group 1: High-Quality Development - The total assets of central enterprises increased from less than 70 trillion yuan to over 90 trillion yuan, with total profits rising from 1.9 trillion yuan to 2.6 trillion yuan, reflecting annual growth rates of 7.3% and 8.3% respectively [1] - The operating income profit margin improved from 6.2% to 6.7%, and labor productivity per person per year increased from 594,000 yuan to 817,000 yuan [1] Group 2: Technological Innovation - Central enterprises have significantly enhanced their innovation capabilities, with R&D expenditures exceeding 1 trillion yuan for three consecutive years and the investment intensity rising from 2.6% to 2.8% [1][2] - They have established 97 original technology sources and formed 23 innovation alliances, demonstrating a strong collaborative effort in technological breakthroughs [1] Group 3: Modern Industrial System - The development of strategic emerging industries has accelerated, with an annual investment growth rate exceeding 20% in new industries [2] - The "AI+" initiative has deployed over 800 application scenarios, and the digital transformation has led to the establishment of 1,854 smart factories [2] Group 4: Reform and Growth - The restructuring of state-owned enterprises has been optimized, with 10 enterprises undergoing strategic mergers and 9 new central enterprises being established [2] - The core functions and competitiveness of these enterprises have been enhanced through ongoing reforms [2] Group 5: Contribution to National Goals - Central enterprises have contributed over 10 trillion yuan in taxes and transferred 1.2 trillion yuan in state-owned equity to social security funds [3] - They have actively participated in major national strategies and infrastructure projects, including over 6,000 overseas investment cooperation projects [3] Group 6: Economic Stability and Support - Central enterprises are responsible for approximately 80% of crude oil, 70% of natural gas, and 60% of electricity supply in China, playing a crucial role in energy security and logistics [4][5] - The average annual procurement by central enterprises exceeds 15 trillion yuan, impacting around 2 million businesses directly and nearly 7 million indirectly [5]

Group 1 - The Hong Kong government will establish a "Commodity Strategy Committee" led by the Financial Secretary to enhance the top-level design and long-term strategy formulation for commodity policies [1] - The government aims to develop a commodity trading ecosystem in Hong Kong, including supporting the establishment of more recognized warehouses and providing tax incentives for commodity traders [1] - The initiative is expected to strengthen Hong Kong's position as an international financial, shipping, and trading center, integrating existing advantages and creating new economic growth points [1] Group 2 - Guangdong Province and Guangzhou have expressed support for cross-border cooperation between the Guangzhou Futures Exchange and the Hong Kong Stock Exchange [2] - The collaboration is seen as a practical measure to enhance the influence of Hong Kong's capital market and promote the integration of financial resources in the Guangdong-Hong Kong-Macao Greater Bay Area [2] - Strengthening cooperation between the two exchanges is crucial for the development of the Greater Bay Area and will facilitate efficient allocation of production factors [2]

Core Viewpoint - The Chinese government is actively promoting service consumption as a key driver for economic growth, with a comprehensive policy framework established to enhance service consumption quality and accessibility [1][2]. Group 1: Policy Framework - The State Council issued the "Opinions on Promoting High-Quality Development of Service Consumption" in August last year, which serves as the foundational document for service consumption initiatives [2]. - The Ministry of Commerce has established a cross-departmental working mechanism to implement the policies outlined in the "Opinions," creating a "1+N" policy system for service consumption [1][2]. Group 2: Service Consumption Statistics - In the previous year, the per capita expenditure on service consumption accounted for 46.1% of total per capita consumption, contributing 63% to overall consumption growth [2]. - From January to August this year, service retail sales increased by 5.1%, outpacing the growth of goods retail sales by 0.3 percentage points [2]. Group 3: Development Focus Areas - The government is focusing on three main areas: addressing weaknesses in basic service consumption, promoting the integration of business, tourism, culture, and sports, and accelerating the growth of new service consumption through digital and green initiatives [2]. - There is significant potential for growth in sectors such as entertainment, tourism, transportation, health, and elder care, indicating a shift towards service consumption becoming a dominant form of consumption [2].

盛秋平表示，下一步，商务部将与相关部门加强横向协作、纵向联动，落实落细相关政策措施，释放服 务消费潜力，为增进民生福祉、推动高质量发展作出积极贡献。 期货日报网讯（记者 杨美 见习记者 肖佳煊）9月17日下午，国务院新闻办公室举行新闻发布会，介绍 扩大服务消费有关政策措施。发布会上，商务部副部长盛秋平表示，近年来，我国消费市场规模稳步扩 大，消费结构持续优化，消费潜能加速释放，服务消费表现亮眼，国际消费中心城市入境旅客成倍增 长，旅游市场亮点纷呈。但与此同时，我国服务消费领域供给质量仍需提高，一些领域消费体验有待提 升，需要进一步发挥政策合力，促进服务消费高质量发展。 盛秋平介绍，近日商务部会同国家发展改革委、文化和旅游部、中国人民银行等9部门印发的《关于扩 大服务消费的若干政策措施》，共提出5个方面19项任务举措。一是培育服务消费促进平台。二是丰富 高品质服务供给。将扩大服务业高水平对外开放，将更多服务消费领域纳入《鼓励外商投资产业目 录》，以开放优化供给，以供给创造需求等。三是激发服务消费新增量。将有序扩大单方面免签国家范 围、优化完善区域性入境免签政策，鼓励电商平台创新线上线下融合的数字服务消费场景，打 ...

期货日报网讯（记者 杨美 见习记者 肖佳煊）9月17日，国新办举行新闻发布会，介绍扩大服务消费有 关政策措施。商务部服务贸易和商贸服务业司司长孔德军在会上表示，服务消费一头连着经济、一头连 着民生，具有消费频次高、乘数效应强、增长可持续等方面特点，是推动经济高质量发展的重要内生动 力，下一步，商务部将从六个方面发力，促进服务消费高质量发展。 第二，抓场景。将支持地方创新多元化服务消费场景，培育"旅游+""美食+""体育+"、"演艺+"等融合消 费场景，推动商旅文体健融合发展。 第六，抓机制。将发挥好促进服务消费发展工作协调机制的作用，开展服务消费提质惠民行动，解决服 务消费发展的堵点卡点，培育新增长点，促进服务消费高质量发展。 第一，抓政策。接下来会出台住宿业高质量发展、铁路与旅游融合发展等一系列的政策文件，形成政 策"组合拳"。 第四，抓平台。将加力推进城市一刻钟便民生活圈建设，增加多元服务，打造宜居宜业、宜游宜购、宜 老宜小的品质生活圈；加快国际消费中心城市培育建设，打造具有全球吸引力的消费环境。 第五，抓环境。将着眼于让广大老百姓放心消费，结合开展优化消费环境三年行动，强化跨部门联合监 管，引导诚信合规 ...

Core Insights - The successful conclusion of the "Language New Force - Workplace Communication and Charismatic Expression Training Class" was held on September 16 at the headquarters of CITIC Construction Investment Futures [1] - The event showcased the learning outcomes and team creativity of participants from the headquarters and the Chongqing branch through various language programs [3] Group 1 - The training class included diverse performances such as recitations, speeches, and dramas, with a collective recitation titled "One Day" paying tribute to the 80th anniversary of the victory in the War of Resistance, deeply moving the audience [3] - This event not only served as a report on the training class's achievements but also demonstrated the company's commitment to promoting Chinese financial culture and the culture of the futures industry [3] - The training combined professional expression with cultural literacy, enhancing employees' comprehensive abilities while promoting the core values of compliance, integrity, professionalism, stability, and responsibility within the industry [3] Group 2 - CITIC Construction Investment Futures adheres to the "Employee First" philosophy, providing various training and cultural activities to create growth platforms and stimulate organizational vitality [3] - The company plans to continue organizing diverse and rich cultural activities to empower employees' comprehensive development and foster a positive, collaborative team atmosphere [3] - The initiatives aim to fully showcase the good spirit and professional qualities of the company's employees [3]

Core Viewpoint - The launch of the "Hundred Schools and Ten Thousand Talents" project at Zhejiang University aims to enhance the integration of industry, academia, and research in the futures and derivatives field, providing systematic education for students and nurturing new talent to serve the real economy [1][4]. Group 1: Project Overview - The project is supported by the Dalian Commodity Exchange and co-hosted by Zheshang Futures and Wuzhou Zhongda Futures, focusing on risk management and practical applications in the futures market [1][4]. - The curriculum is designed collaboratively by Zheshang Futures and Wuzhou Zhongda Futures, covering essential topics such as futures fundamentals, options trading strategies, risk management, and enterprise applications [4]. Group 2: Industry Insights - Industry leaders emphasize the growing demand for high-quality talent in the AI era, indicating that the project aims to attract more students to research and apply their knowledge in the futures industry [2]. - The futures industry is seen as having significant opportunities, with a focus on risk management as its primary function, which is closer to the real economy compared to securities [2][3]. Group 3: Educational Activities - The first lecture, led by Dalian Commodity Exchange's assistant director, provided an overview of the current state and functions of the futures market, emphasizing the importance of understanding the entire industry chain [3]. - The project includes plans for industry research, insurance activities, and student exchanges to strengthen the connection between academia and industry [4].

下一步，李镇表示，国资央企将对照改革深化提升行动方案明确任务，一项一项攻坚，既抓进度更重质 量，既抓总体也重视个体，确保改革任务高质量完成，交出一份经得起检验的答卷。同时，按照党的二 十届三中全会部署，坚持目标导向、问题导向，认真谋划好、落实好新的改革举措，不断丰富改革内 涵、加大改革力度、确保改革实效。 三是着眼提升国资监管整体效能，在统筹"放得活"和"管得住"上取得新的成效。我们坚持专业化、体系 化、法治化、高效化监管，全面实施"一业一策、一企一策"考核，先后出台26个具有针对性的行业考核 实施方案，2025年对中央企业考核的个性化指标占比达到76%以上。 期货日报网讯（记者 杨美 见习记者 肖佳煊）9月17日，国新办举行"高质量完成'十四五'规划"系列主题 新闻发布会，介绍砥砺奋进"十四五"中央企业高质量发展情况，并答记者问。在谈及国企改革取得的进 展时，国务院国资委副主任李镇从以下三方面介绍了改革取得的积极成效。 一是着眼增强国有经济战略功能，在推动国有资本合理流动和优化配置方面取得了新成效。比如，通过 布局优化结构调整、调存量和优增量并举，持续推动国有资本"三个集中"，也就是向关系国家安全、国 民经 ...

Core Viewpoint - The State-owned Assets Supervision and Administration Commission (SASAC) highlights the significant progress and achievements of central enterprises in China during the "14th Five-Year Plan" period, focusing on innovation as a primary task and emphasizing the enhancement of innovation capabilities, effectiveness, and ecosystem [1][2][3] Group 1: Innovation Strength - Central enterprises have seen an annual growth of 6.5% in R&D expenditure, with nearly 100 billion yuan invested in basic research last year, representing 8.8% of total R&D spending [1] - A total of 474 national-level R&D platforms have been established, along with 8 national technology innovation centers, and 91 key laboratories led by central enterprises, accounting for one-sixth of the national total [1] - Central enterprises employ 1.44 million R&D personnel, which is 20% of the national total, and have 219 academicians, strengthening their talent support [1] Group 2: Innovation Effectiveness - Central enterprises have undertaken or participated in 22 major national technology projects and are responsible for 60% of the key product R&D in the manufacturing sector [2] - There are 97 original technology source bases established in fields like quantum computing and biotechnology, leading to several original and leading achievements [2] - The establishment of 479 industry technology innovation strategic alliances and 25,000 collaborative projects between industry, academia, and research institutions enhances resource sharing and mutual empowerment [2] Group 3: Innovation Ecosystem - The SASAC emphasizes the importance of "incentive empowerment," with over 70% of the state-owned capital operating budget in 2025 allocated to enterprises engaged in technological innovation and emerging industry development [2] - Nearly 1,000 technology-based enterprises have received incentives such as equity and dividend rewards to ensure that successful researchers are recognized [2] - The SASAC is exploring ways to reduce burdens and grant project leaders greater autonomy, fostering an environment conducive to innovation [2] Group 4: Notable Achievements - Central enterprises have made significant technological advancements, contributing to national strategic needs with projects like the "Deep Sea No. 1" Phase II and major engineering projects such as the Shenzhen-Zhongshan Bridge [3] - In the latest national technology awards, central enterprises won 109 awards, accounting for over half of the total in similar categories nationwide [3] - Breakthroughs in fields such as integrated circuits, industrial mother machines, industrial software, and basic materials have filled critical technological gaps, promoting the safe development of related industries [3]

Group 1 - The core viewpoint is that central enterprises in China have shown steady improvement in operational quality and efficiency during the "14th Five-Year Plan" period, with significant growth in assets and profits [1][4] - The total assets of central enterprises increased from less than 70 trillion yuan to over 90 trillion yuan, while total profits rose from 1.9 trillion yuan to 2.6 trillion yuan, with average annual growth rates of 7.3% and 8.3% respectively [1] - Key performance indicators such as operating income profit margin improved from 6.2% to 6.7%, and labor productivity increased from 594,000 yuan to 817,000 yuan per employee per year [1] Group 2 - The construction of a modern industrial system has made new progress, with strategic emerging industries experiencing unprecedented development, and investments in these sectors growing at an annual rate exceeding 20% [2] - Central enterprises have implemented various initiatives, including the "AI+" special action, which has established over 800 application scenarios, and the creation of 1,854 smart factories, leading to reductions in energy consumption and carbon emissions per unit of output by 12.8% and 13.9% respectively [2] Group 3 - The structure of modern state-owned enterprises is continuously optimizing, with strategic restructuring involving 10 enterprises and the establishment of 9 new central enterprises, enhancing the efficiency of state capital allocation [3] - The governance of state-owned enterprises has improved, with the integration of party leadership into corporate governance becoming more institutionalized, and measures to stimulate innovation and enhance regulatory effectiveness have been implemented [3] Group 4 - Central enterprises have contributed significantly to national development, with over 10 trillion yuan in taxes paid and 1.2 trillion yuan in state-owned equity transferred to social security funds during the "14th Five-Year Plan" [3] - The enterprises actively support major national strategies and infrastructure projects, including the construction of the Sichuan-Tibet Railway and the Shenzhen-Zhongshan Link, as well as engaging in over 6,000 overseas investment cooperation projects related to the Belt and Road Initiative [3]