Zhong Guo Jin Rong Xin Xi Wang·2025-05-28 07:08Core Insights - The "Technology-Finance-Industry" virtuous cycle is progressing, with the Strategic Emerging Industry Index reaching 187.63 points in Q3 2024, a 2.69% increase from the end of 2023, indicating a stable upward trend [1][2] Group 1: Index Performance - The index shows steady improvement, with all four sub-indices rising, particularly the Financial Development Index, which increased by 2.01% due to stable growth in bank loans [2][4] - By the end of September 2024, medium to long-term loans for high-tech manufacturing reached 2.9 trillion yuan, and loans for "specialized, refined, and innovative" enterprises reached 4.3 trillion yuan, with year-on-year growth of 12% and 13.5% respectively [4] - The Environmental Support Index grew by 3.50%, reflecting stable growth in financial, innovation, and industrial environments, with a 14.89% increase in the scale of science and technology innovation theme funds [4] Group 2: Innovation and Industry Performance - The Innovation Index increased by 3.52%, although innovation output indicators lagged due to reduced R&D investment and stricter national standards [5] - The Industry Effectiveness Index rose by 2.36%, but this represents a significant decline from the previous annual compound growth rate of 16.16% from 2019 to 2023 [6] - The new energy vehicle and new generation information technology industries led in performance, growing by 4.33% and 2.81% respectively, while the new energy industry saw a decline of 0.36% [6][11] Group 3: Sector-Specific Insights - The new energy vehicle sector experienced a historic turning point in July 2024, with monthly retail sales of new energy passenger vehicles surpassing traditional fuel vehicles [8] - The biotechnology sector showed a recovery with a growth rate of 2.55%, driven by active merger and acquisition activities [10] - The new materials sector's growth was minimal at 0.47%, with a slight increase in enterprise numbers but a decrease in total tax revenue [10]