Group 1 - The year 2025 is expected to be filled with both turmoil and anticipation in the global financial markets, with the Shanghai Composite Index rising while US stock indices reach new highs [2] - The recent decline in the US dollar exchange rate contrasts with the rising US stock market, indicating underlying tensions in global financial dynamics [3][6] - The Euro has been recovering against the dollar, with the exchange rate approaching 1.2 since September, reflecting geopolitical influences on financial markets [4][6] Group 2 - The Guangdong-Hong Kong-Macao Greater Bay Area is positioned as a crucial player in the global financial landscape, benefiting from Hong Kong's status as an international financial center [7][8] - In the first half of 2025, Hong Kong's IPO market saw a significant recovery, with new stock financing reaching $14.1 billion, a 695% increase compared to the same period in 2024 [10] - The rise in Hong Kong's market activity is attributed to global investors seeking Chinese assets amid expectations of US dollar interest rate cuts [10][12] Group 3 - The introduction of the "Science and Technology Enterprise Special Line" in Hong Kong has made it easier for innovative companies to go public, enhancing the market's appeal for tech investments [14][16] - Recent regulatory changes have reduced the initial public offering (IPO) public shareholding requirement from 15% to 10%, facilitating easier access to capital for companies [16] Group 4 - The emergence of stablecoins is seen as a significant opportunity, bridging the gap between on-chain crypto assets and off-chain real-world assets, thus enhancing the usability of crypto in payments and settlements [20][23] - Hong Kong's proactive approach to stablecoin regulation, with the introduction of the "Stablecoin Regulation" in August 2025, positions it as a leader in the crypto asset space [20][23] Group 5 - The distinction between digital currencies is highlighted, with three categories: cryptocurrencies, central bank digital currencies (CBDCs), and stablecoins, each serving different purposes in the financial ecosystem [25][28] - CBDCs, such as the digital yuan, offer advantages like instant settlement and direct access without the need for a commercial bank account, promoting financial inclusion [30][32] Group 6 - The Guangdong-Hong Kong-Macao Greater Bay Area is recognized as a financial hub, with Hong Kong as an international center, Shenzhen as a model of financial and technological integration, and Guangzhou focusing on green finance [34][36] - Shenzhen's financial innovation and market-oriented approach are expected to continue driving growth, particularly in creating a multi-layered capital system [37] - Guangzhou's role in financial resource aggregation and its potential in green finance highlight the ongoing opportunities for innovation in the region [39]

作者 | 宝珠、 李秋悦（实习生） 编辑 | 江江 视觉 | 顾芗 上午8点半，文雯踩点下楼，坐上去公司的班车。 仅仅15分钟后，她就出现在了公司食堂二楼，吃一个肉蛋堡当早饭，开启一天的工作。 这样的通勤节奏舒服且难得，生活在一二线城市的年轻人深有体会。 对于大多数在一二线打拼的打工人来说，"租金便宜+通勤便利+居住舒适"，几乎是"不可能三角"——想 要通勤时间短，房租预算就要往上涨，即便捡漏了一个便宜房间，硬件也往往跟不上。 ，， 在一二线城市，租金划算、通勤便利和居住舒适这三点几乎不可能都被满足/顾芗·AI制图 文雯则打破了这个"不可能三角"。她告诉盐财经，她不仅不用交房租，而且中介费、网费、取暖费也都 全免。值得注意的是，她的公寓位置在北京。 文雯是一名软件工程专业的在读研究生，目前正在大厂京东做实习生。今年9月初，京东实习生公寓投 入使用，符合条件的实习生可以申请免费入住。 两个月前，小米北京青年公寓也正式开放，小米北京青年公寓主要面向近几年毕业的年轻员工，租金 1999元/月，远低于周边市场价。彼时，这一消息瞬间登上了热搜。 这不是一个单独的现象。盐财经注意到，如今，越来越多科技巨头开始下场，自建员 ...

本文转载自21世纪经济报道 值班编辑 | 宝珠 视觉 | 顾芗 9月21日，@ARCTERYX始祖鸟 发布致歉信，"感谢大家对青藏高原生态环境的关切与监督，并诚恳接 受所有的批评和建议。向各位表达最诚挚的歉意。"始祖鸟承诺将依据评估结果和社会各界反馈，展开 及时有效的补救行动。 ， 同日，蔡国强在短视频平台发布关于《升龙》艺术项目的说明："虚心接受大家对于在雪域高原实施艺 术创作的所有批评，并诚挚地感谢大家对我们的关心和提醒。我们确实存在很多考虑不周之处，我深表 歉意。" 说明中称，将主动配合第三方机构及相关部门，就此事对自然生态造成的影响进行多方面的评估，并将 以实际行动保护青藏高原生态环境。"如确有环境影响，我们愿意尽全力采取补救恢复措施，并将以实 际行动支持江孜县的生态和文旅，保护青藏高原生态环境。" 9月19日下午，户外运动品牌始祖鸟联手艺术家蔡国强在西藏喜马拉雅山脉江孜热龙地区（海拔约5500 米）举办名为"升龙"的烟火表演，引发了一系列关于环境保护方面的争议，目前始祖鸟各平台账号均已 删除与本次活动相关的宣传内容。 根据品牌此前发出的相关宣传物料显示，"本次艺术创作所有活动均在科学评估和严格指导下 ...

文 | 周以 统筹 | 黄嘉翔 视觉 | 思乐 "出海"的赚钱路径正在悄悄改变。 一位90后中国留学生，在国外读书时嗅到了商机： 他发现海外年轻人对个性化、有设计感的日用消费品 需求强烈，但市场上的选择却并不多。 于是，他和团队在2020年创立了一个面对全球年轻消费者的时尚 品牌，专攻时尚挂件。 没有工厂、不做铺货，他们靠的是精准捕捉社交媒体热点+极速供应链反应。仅仅一年，这个从零起步 的品牌就拿下了上亿美元融资，估值突破十亿美金，成了跨境圈跃出的新一只"独角兽"。 这并非孤例。在他身后，是一批正在不断探索的中国跨境卖家。 不管是留学生创业，还是传统工厂转型， 越来越多的中小卖家意识到，光靠"拼低价、搬砖头"已经无法 一劳永逸。让用户记住品牌名字、认可品牌调性，才能跳出短期死循环，真正赚到可持续的钱。 如今，一批抓住新工具、新策略的中国卖家，已经找到了突破口。借助多站点布局分散风险、捕捉机 会；利用AI生成高质量素材，依靠数据驱动精准投放。 品牌出海，不是大公司的专利，也不是句口号。在这个年末旺季，它正在成为更多务实卖家的新活法。 更立体的市场，需要更灵活的广告策略 全球竞争格局正以前所未有的速度重塑——今天 ...

视觉 | 顾芗 本文转载自澎湃新闻 小米召回超11万辆SU7标准版一事引发关注。 9月19日，据国家市场监督管理总局网站，小米汽车科技有限公司（下称"小米汽车"）根据《缺陷汽车产 品召回管理条例》和《缺陷汽车产品召回管理条例实施办法》的要求，向国家市场监督管理总局备案了 召回计划。决定自即日起，召回2024年2月6日至2025年8月30日生产的部分SU7标准版电动汽车，共计 11.69万辆。 ， 值班编辑 | 宝珠 其中，召回编号S2025M0149I：涉及XMA7000MBEVR2和XMA7000MBEVR5车型，共计98462辆；召回 编号S2025M0150I：涉及BJ7000MBEVR2车型，共计18425辆。 对于此次召回，知情人士向澎湃新闻记者回应称：系软件OTA召回，用户只需要升级系统即可。此次召 回并未覆盖所有已出货的SU7标准版，仅包括2024年2月6日至2025年8月30日生产的部分SU7标准版电动 汽车。 据市场监督管理总局发布的公告显示，本次召回范围内部分车辆在L2高速领航辅助驾驶功能开启的某些 情况下，对极端特殊场景的识别、预警或处置可能不足，若驾驶员不及时干预可能会增加碰撞风险，存 ...

Core Viewpoint - The controversy surrounding "pre-made dishes" at Green Tea restaurants has led to a significant shift in consumer perception, with the term "freshly made" becoming a contentious issue in the restaurant industry [2][4]. Group 1: Consumer Perception and Reactions - Recent observations indicate that Green Tea restaurants have removed signage claiming "no pre-made dishes, freshly made" from their storefronts, raising questions about transparency [3]. - Consumers have expressed concerns over the use of pre-made dishes without prior notification, arguing that it infringes on their right to know [4]. - Social media discussions reveal a polarized view on pre-made dishes, with some consumers feeling misled by the restaurant's marketing strategies [4]. Group 2: Operational Practices and Supply Chain - Green Tea Group's prospectus reveals a partnership with 205 third-party food processing companies, allowing them to reduce upfront investment costs and enhance operational efficiency by outsourcing much of the food preparation [3][6]. - The reliance on pre-made dishes has been framed as a means to improve restaurant efficiency, although it contradicts the marketing narrative of freshly made food [4][6]. Group 3: Regulatory Scrutiny and Financial Performance - The China Securities Regulatory Commission has inquired about the food safety and proportion of pre-made dishes used by Green Tea restaurants, emphasizing the need for compliance in their supply chain practices [6]. - Green Tea Group reported a positive earnings forecast, expecting a net profit of approximately 247-254 million RMB for the first half of the year, marking an estimated growth of nearly 40% [7]. - The expansion of Green Tea restaurants has been significant, with over 500 locations established across various provinces and regions in China by August 2025 [7].

作者 | 周以 统筹 ｜ 王浩天 视觉 | 顾芗 过去一年，如果我们纵观全球企业的风云动态并重新复盘，不难发现，国际化都是大家坚定不移的锚 点。 在企业走向国际化的过程中，云服务商通过提供在国内反复验证过的、高可用的经验和技术，能够快速 提高企业出海的效率和质量。也因此我们看到，过去这一年多，各大云厂商都在国际化上集体发力，坚 定按下加速键。 腾讯云的动作尤其迅速。这个一贯以"稳"著称的云厂商，如今在海外展现出极强的进攻性和进取心，海 外开区速度全行业最快；大量产品快速推出国际版、适配海外技术生态和全球客户需求。 腾讯云与智慧产业事业群"掌门人"汤道生，在会上略带自豪地说，腾讯云国际化业务，过去三年实现 了"高双位数"的增长，远远超过中国公有云市场的平均增速；服务客户数也比去年再增长一倍，不仅有 国内知名企业，也包括印尼最大的互联网公司Goto、泰国正大、法国电信等海外当地龙头企业；同时， 90%以上的互联网企业和95%以上头部游戏公司，出海都选择了腾讯云。 腾讯集团高级执行副总裁、云与智慧产业事业群CEO汤道生 国际化已然与智能化一起，构成了腾讯To B 业务增长的双引擎。腾讯Q2财报显示，腾讯金融科技与企 ...

Core Viewpoint - Yushu Technology, a domestic robotics company, is preparing for its IPO with an estimated valuation exceeding 10 billion yuan, igniting excitement in the capital market [4][12]. Group 1: IPO and Market Impact - Yushu Technology plans to submit its IPO application between October and December, with operational data to be disclosed at that time [4]. - The anticipation surrounding Yushu Technology's IPO has led to significant stock price increases for related companies, such as Juxing Legend and Shoukai Holdings, which have seen their market values surge [5][8]. - Juxing Legend's stock rose over 20% after unveiling a collaborative product with Yushu Technology, demonstrating the market's enthusiasm for Yushu's potential [7]. Group 2: Financial Performance and Valuation - Yushu Technology's valuation reached approximately 12 billion yuan following a recent financing round led by major investors, including Tencent and Alibaba, raising nearly 700 million yuan [12]. - The company has achieved annual revenues exceeding 1 billion yuan and has been profitable for five consecutive years, positioning it as a leader in the humanoid robotics sector [17]. - Yushu Technology's innovative pricing strategy has allowed it to offer products at significantly lower prices than competitors, enhancing its market position [18][20]. Group 3: Competitive Landscape - The humanoid robotics industry is experiencing rapid growth, with predictions indicating it will become a major investment theme over the next decade, particularly in China [17]. - Yushu Technology's reliance on self-developed components has enabled it to control production costs effectively, a critical factor in its competitive strategy [18]. - As competition intensifies, Yushu Technology must diversify its revenue streams to sustain growth and address potential investor concerns post-IPO [20].

作者 | 李秋悦 编辑 | 江江 新媒体编辑｜ 宝珠 视觉 | 顾芗 "人口老龄化，养老正在成为下一个风口，养老护理员轻轻松松月入过万。" 在家政服务培训机构的"广告叙事"中，这是一条十分丝滑的逻辑链。我国60岁及以上老年人目前约有3.1 亿人，占全国总人口的22%，意味着，我国存在巨大的养老护理需求，养老护理员市场蕴藏着巨大的发 展潜力。 现实的确提供了有力的论据。根据智联招聘数据，今年二季度，护工职位数同比增长54%，平均招聘月 薪5720元，同比增长8%，养老护理员行业迎来岗位、薪资双增长。 同时，据业内人士介绍，随着职级 晋升，在一二线城市的护理人员月薪甚至能超过一两万。 ，， 养老/看护行业招聘职位数占比TOP 10 城市/图源：智联招聘 各大一线城市更是出台了高额补贴政策，吸引相关人才。 比如，广州市对于从事养老服务机构一线服务岗位满三年的中职（或普高）、高职、全日制本科及以上 的毕业生分别给予6000元、11000元、12000元的一次性就业补贴。对于工作累计满5年未满10年、累计 满10年的养老护理员分别给予5000元、20000元的一次性岗位补贴。 再比如，深圳市对本科及以上学历的应届毕业生 ...

Core Viewpoint - The rising tuition fees in Chinese universities are reshaping the perception of higher education as a reliable investment, especially for low-income families who may face significant debt burdens [4][30]. Group 1: Tuition Fee Increases - A notable increase in tuition fees has been observed across various provinces in China since 2023, with some institutions raising fees by over 50% [7][8]. - Specific examples include East China University of Science and Technology raising fees to 7,700 yuan, and Taiyuan University of Technology increasing engineering fees from 6,000 yuan to 8,970 yuan [9][10]. - The trend is expected to continue, with over 100 universities already implementing fee hikes, leading to a new standard approaching the 10,000 yuan threshold [8][16]. Group 2: Factors Behind Fee Increases - The rising costs are attributed to increased expenses related to faculty salaries and laboratory equipment, alongside a shift towards market-driven pricing [12][15]. - The expansion of higher education has outpaced initial funding models, leading to a "more students, less money" scenario, compelling universities to raise tuition as a form of self-rescue [26][30]. Group 3: Financial Sources for Universities - Universities primarily rely on tuition fees, government funding, social donations, and income from school-run enterprises, with many public institutions heavily dependent on government support [22][23]. - However, government funding for higher education has decreased, with a reported reduction of 4.6 billion yuan in 2024 compared to the previous year [23][24]. Group 4: Changing Perceptions of Higher Education - The perception of higher education as a guaranteed pathway to stable employment and higher income is shifting, with an increasing number of graduates facing lower starting salaries and a competitive job market [30][34]. - The phenomenon of "degree inflation" is evident, as lower-level degrees are becoming more favorable in certain job markets, leading to a reassessment of the value of a university degree [34][37]. Group 5: Impact on Families - Families are increasingly weighing the costs of higher education against potential returns, with many considering the financial burden of tuition and living expenses [30][35]. - The rise in tuition fees has led to a significant increase in student loans, with 955.18 billion yuan in loans issued in the past year, marking a 36.51% increase [40][41].