Core Viewpoint - The article highlights the significant achievements of China's financial sector during the "14th Five-Year Plan" period, emphasizing the enhancement of financial services to the real economy, deepening financial reforms, and improving international competitiveness [1][2][4]. Financial Achievements - As of June 2023, China's banking sector total assets reached nearly 470 trillion yuan, ranking first globally, with stock and bond market sizes ranking second [1]. - Over the past five years, the banking and insurance sectors provided an additional 170 trillion yuan in funding to the real economy, with annual growth rates of 27.2% for scientific research loans, 21.7% for manufacturing medium- and long-term loans, and 10.1% for infrastructure loans [2]. Support for Innovation and SMEs - The financial system has focused on supporting technological innovation, with over 90% of newly listed companies being technology-related. The market capitalization of the A-share technology sector exceeds 25% [2]. - The balance of inclusive loans for small and micro enterprises reached 36 trillion yuan, 2.3 times that of the end of the "13th Five-Year Plan" [2]. Financial Market Opening and Internationalization - The "14th Five-Year Plan" period saw further deepening of reforms and opening up in the financial sector, with high-level institutional opening of capital markets and steady progress in the internationalization of the renminbi [2][3]. - By the end of July 2023, foreign institutions and individuals held over 10 trillion yuan in domestic stocks, bonds, and deposits, with panda bond issuance exceeding 1 trillion yuan [2][3]. Risk Management and Financial Stability - The period was crucial for transforming old and new growth drivers, with significant achievements in preventing and mitigating financial risks, including a reduction in the number of high-risk institutions and assets [3]. - By June 2023, the number of financing platforms had decreased by over 60%, and the scale of financial debt had dropped by over 50% compared to the beginning of the year [3]. Future Outlook - The financial sector aims to continue enhancing service quality and efficiency, supporting the real economy and technological innovation, while promoting high-level opening and the internationalization of the renminbi to lay a solid foundation for high-quality development in the "15th Five-Year Plan" [4].

Group 1 - The core viewpoint of the article highlights the significant rise in gold prices, with spot gold reaching a record high of $3745.845 per ounce on September 22, and maintaining a high of around $3740 per ounce as of September 23 [1] - On September 22, the Shanghai gold futures contract increased by over 1.4%, reaching a historical high of 850.98 yuan per gram [2][3] - The gold index in the A-share market rose by 3.12% on September 22, with constituent stocks collectively increasing, including notable gains of over 9% for companies like Xiaocheng Technology and Zhongjin Gold [4][5] Group 2 - Specific stock performances on September 22 included Zhongjin Gold at 19.98 yuan with a rise of 9.42%, Xiaocheng Technology at 27.13 yuan with a rise of 9.35%, and other companies like Xibu Gold and Sichuan Gold also showing significant increases [5] - The domestic jewelry gold price surpassed 1080 yuan per gram on September 22, indicating a strong demand in the retail market [5]

与此同时，针对"桦加沙"的到来，广东各家保险公司也积极在事前采取多项措施，构筑防台风 坚实防线。 图片来源：中央气象台 比如，人保财险广东省分公司启动二级（重大）应急响应，成立以省分公司主要负责人任组长 的应急领导小组，统筹调度本次台风的防灾防损和灾后理赔工作。据了解，该公司共分类组建 理赔支援团队共200个，储备外部专家50人、公估机构30家共600人、专业施救及检测机构13 家，统筹全省77台无人机及67名飞手、340台施救车辆、可停放1.2万台车的122个保全场地用 于紧急调度，确保灾害发生后可快速响应。 9月22日10时，广东省防汛防旱防风总指挥部将防风Ⅳ级应急响应提升至Ⅱ级应急响应。 南方财经记者从广东保险业协会获悉，面对超强台风"桦加沙"的潜在威胁，广东保险业在广东 金融监管局指导下，依托"1+N"应急处置体系，迅速集结全行业力量，从灾前预警、防灾减损 到应急响应进行了全方位、多层次的部署，力争将台风可能造成的损失降至最低。 启动二级（重大）应急响应 织密灾害防护网 记者丨 王达毓 编辑丨蒋韵 南方财经记者了解到，按照广东省防台风工作研判部署会精神，广东保险业协会第一时间向辖 内保险机构发布了台风 ...

Core Viewpoint - The recent settlement between Longi Green Energy and JinkoSolar marks a significant development in the photovoltaic industry, potentially ending the ongoing patent disputes and allowing both companies to focus on their respective technologies and market strategies [3][5][11]. Group 1: Settlement Details - Longi Green Energy and JinkoSolar announced a settlement regarding their global patent disputes, agreeing to end all ongoing legal proceedings and establish cross-licensing agreements for their core patents [3][5]. - The settlement suggests that both companies will no longer engage in public disputes over which technology, TOPCon or BC, is superior [5][11]. Group 2: Technology Competition - The competition between TOPCon and BC technologies has intensified, with TOPCon capturing approximately 23% of the market share in 2023, up from less than 10% the previous year [7]. - Despite their clear preferences for different technologies, both companies have been involved in developing each other's technologies, indicating a more complex competitive landscape [8][9]. Group 3: Industry Implications - The resolution of the patent disputes is seen as a pivotal moment for the photovoltaic industry, promoting the importance of intellectual property protection amid increasing competition [11][12]. - The settlement may lead to a more collaborative environment in the industry, as both companies hold significant patents in their respective technologies, which could help mitigate the risks of market saturation and price competition [11][13].

记者丨 董鹏 编辑丨骆一帆 随着更多细节的披露，紫金黄金国际的市值、估值已经可以大致确定。 上周五，紫金矿业发布分拆上市进展公告， 其子公司紫金黄金国际此次计划发行3.49亿股至 4.01亿股（约占全球发售完成后13.3%至15%），发行价格则确定为71.59港元/股。 本报在今年8月初的报道也曾指出，未来几年，除了5000亿市值的紫金矿业以外，"紫金系"很 可能会再增紫金黄金国际、藏格矿业两家千亿级别的上市平台。 彼时，对紫金黄金国际千亿市值的判断，更多源于公司自身营收、利润规模与港股可比公司估 值水平。 如今，随着公司发行价格、发行规模等上市细节的披露，不仅可以获得更多数据层面的验证， 紫金黄金国际潜在的市值规模也超过了此前预期。 由此计算， 紫金黄金国际上市后市值有望达到1878.5亿港元 。此前，紫金矿业所希望达到 的"推动公司黄金资产价值重估"，也将取得明显成效。 如果按照紫金黄金国际上半年归母净利润年化后估算， 公司全年净利润约为10.4亿美元，上述 发行价所对应的市盈率可以达到23倍左右，显著高于紫金矿业A股当前15倍左右的动态估值 。 而以上超过200亿港元的融资规模，在创下今年港股市场第二大 ...

Core Viewpoint - Shenzhen's subway ridership has surpassed Guangzhou's, reflecting the city's economic vitality and population growth, with a significant increase in passenger volume since May 2023 [1][2][4][7]. Group 1: Subway Ridership Data - In August 2023, the top five cities by subway ridership were Shanghai (32.34 million), Beijing (31.06 million), Shenzhen (30.01 million), Guangzhou (28.89 million), and Chengdu (10.34 million) [1]. - Shenzhen's subway ridership increased by 9.04 million compared to the same month last year, while Guangzhou's ridership rose by 1.89 million [4]. - Shenzhen's average daily ridership reached 8.95 million, with over 10 million passengers on 50 occasions, significantly higher than previous years [4]. Group 2: Factors Contributing to Ridership Growth - The opening of the Shenzhen-Zhongshan Channel has strengthened connections with cities on the Pearl River West Bank, contributing to increased passenger flow [5]. - Cross-border travel has surged, with the Guangzhou-Shenzhen-Hong Kong high-speed rail seeing 6.12 million passengers during the summer transport period, a 16.7% increase year-on-year [5][6]. - Shenzhen's younger population (79.53% aged 15-59) drives higher commuting demand compared to Guangzhou, which has a higher proportion of elderly residents [6]. Group 3: Urban and Economic Implications - The integration of subway systems in the Greater Bay Area is expected to enhance economic collaboration and innovation, creating a world-class industrial hub [2][10]. - The high subway ridership indicates frequent population movement, reflecting strong economic activity and necessitating improved public services [10]. - Transportation infrastructure improvements are facilitating the expansion of industries beyond city centers, reducing costs and enhancing accessibility [11][12].

记者丨 唐婧 编辑丨曾芳 视频丨 许婷婷 王学权 9月22日，国务院新闻办举行"高质量完成'十四五'规划"系列主题新闻发布会，中国人民银行 行长潘功胜，金融监管总局局长李云泽，中国证监会主席吴清，中国人民银行副行长、国家外 汇局局长朱鹤新介绍"十四五"时期金融业发展成就，并答记者问。 潘功胜介绍，五年来，在党中央坚强领导下，我国金融事业取得新的重大成就。金融体制改革 全面深化，顶层设计更加完善，我国金融治理体系和治理能力现代化迈上新台阶；种类齐全、 竞争充分的金融机构、市场、产品体系更加健全，金融服务的质量、效率、普惠性大幅提升； 重点领域金融风险有序化解，守住了不发生系统性金融风险的底线；金融对外开放步伐加快， 我国金融业的国际竞争力和影响力显著增强。 截至今年6月末，中国银行业总资产近470万亿元，位居世界第一；股票、债券市场规模位居世 界第二；外汇储备规模连续20年位居世界第一。我国在绿色金融、普惠金融、数字金融等方面 走在世界前列，基本建成多渠道、广覆盖、安全高效的人民币跨境支付清算网络，移动支付处 于国际领先水平。"十四五"时期，科技型中小企业贷款、普惠小微、绿色贷款年均增速超过 20%。 潘功胜表 ...

Group 1: Stock Market Performance - The US stock market showed mixed performance with the Dow Jones up 0.05%, Nasdaq up 0.31%, and S&P 500 up 0.18% as of September 22 [1] - Tesla's stock rose nearly 3.6% after several institutions raised their target prices, with Baird upgrading its rating to "outperform" and predicting a price of $3000 by 2035 [1] - Alibaba's stock increased by nearly 1%, supported by a report from Citigroup highlighting a new in-store group buying promotion coinciding with the travel peak season [1] - Apple saw a rise of over 3%, reaching an 8-month high, with Wedbush Securities setting the highest target price on Wall Street at $310 [1] Group 2: Company Developments - Baidu's stock rose over 4% following the launch of its new visual understanding model Qianfan-VL, which is optimized for enterprise-level multimodal applications [3] - Metsera, a developer of anti-obesity drugs, saw its stock surge over 60% amid reports that Pfizer is nearing a deal to acquire the company for up to $7.3 billion [4][5] Group 3: Economic Indicators and Market Sentiment - The Federal Reserve's recent interest rate cut of 25 basis points has led to increased expectations of further cuts, which is a key driver behind the recent highs in the US stock market [7][8] - Concerns are rising regarding the US long-term treasury market performance and potential budget battles in Congress, which could impact market confidence [7][8] - Gold prices reached a new high of $3728 per ounce, driven by multiple factors including the Fed's rate cut and weak economic data [10][15]

记者丨 彭新 编辑丨巫燕玲 在全球半导体行业深陷周期性寒冬与地缘政治迷雾双重压力下，北京君正集成电路股份有限公 司（下称"北京君正"，A股代码：300223.SZ）近日向港交所递交招股书，启动"A+H"双资本 平台冲刺。 北京君正成立于2005年，总部位于北京，采用Fabless（无晶圆厂）集成电路设计公司模式， 为汽车电子、工业医疗、AIoT及智能安防等市场提供计算芯片、存储芯片和模拟芯片。 事实上，北京君正并非资本市场新兵。其已在A股上市13年之久，截至9月22日收盘，公司A股 总市值达394.2亿元。 对于此次冲刺港交所，北京君正在招股书中表示，拟通过港股上市筹集额外资金，用于业务增 长与扩张、拓宽融资渠道并深化全球化战略布局。 对于北京君正本次"A+H"上市进程，21世 纪经济报道记者就相关问题致电其董秘，其回复称以公告为准。 在半导体周期中，北京君正的业绩和股价也起起伏伏。此次港股上市，能否助力其全球扩张之 路，减缓周期冲击，仍有待观察。 图片来源：北京君正官网 创始人身价达3 3亿元 随后在PMP（便携多媒体播放器）领域，北京君正也继续踩准市场机遇。2007年底，君正推出 了国内首款支持Real编 ...

记者丨唐唯珂 打法分野 零售江湖从无统一解法，山姆与胖东来的商业模式和打法迥异。 编辑丨张伟贤 郑州将成为全国唯一一座同时拥有山姆会员商店和胖东来的城市。 近日， 郑州郑东山姆会员店正式动工建设，标志着河南省首家山姆会员商店进入实施阶段。 而今年2月23日，胖东来创始人于东来 在社交媒体发文称，公司决定在郑州开设一个具有艺术特色的超市作品，带动郑州商业更加美好。据悉，胖东来郑州首店则将落户 于郑州高铁东站西广场地下商业项目。这也是胖东来自2007年进驻新乡后，时隔18年再次向外拓展，预计2026年元旦前正式亮相。 公开资料显示， 山姆会员商店河南首店总投资约7.2亿元，总占地约44.01亩，预计2026年开业。胖东来郑州首店与山姆郑州首店的 选址仅有6至8公里的车程。 随着山姆郑州门店效果图的公布和胖东来郑州首店进入施工状态，这两家中国零售市场的超市巨头，即将在中原大地同场竞技。 此前有零售供应链从业者向21世纪经济报道记者表示，未来区域性的特色商超必然会持续获得市场话语权，而在这场"贴身肉 搏"中，差异化定位和打法也许是每家零售商超需要持续钻研的课题。 图/21世纪经济报道 胖东来的根基，深扎在河南本土的土 ...