证券之星消息，盈新发展(000620)11月26日在投资者关系平台上答复投资者关心的问题。 盈新发展回复：您好，国办印发《关于进一步促进民间投资发展的若干措施》，是国务院办公厅于2025 年11月印发的重要政策文件，旨在激发民间投资活力、促进民间投资发展。公司将积极响应国家号召， 仔细研读市场政策。本次股权收购事项目前尚处于意向协议阶段，后续需完成尽职调查、审计评估及相 关审批程序。公司将根据法律法规要求，就项目进展及时履行信息披露义务。感谢您的关注。 以上内容为证券之星据公开信息整理，由AI算法生成（网信算备310104345710301240019号），不构成 投资建议。 投资者提问：尊敬的董秘你好，国办印发《关于进一步促进民间投资发展的若干措施》。持续落实好突 破关键核心技术科技型企业上市融资、并购重组"绿色通道"政策。积极支持更多符合条件的民间投资项 目发行基础设施领域不动产投资信托基金！请问贵公司收购长兴半导体符合这项措施么？从中能达到哪 些机会？谢谢！ ...

NO.3 长城基金 长城"科技+" | 解码AI医疗："政策红利+产业迭代"的战略配置机会 # " 当期热文 NO.1 国泰基金 一只ETF的初心 NO.2 摩根士丹利基金 摩根士丹利基金市场洞察：全球股市下跌，长期逻辑资产或迎布局机会 （点击文章标题跳转原文，下同） # " 热转好文 NO.1 招商证券投教基地 投资基础设施REITs的收益来源丨投资一点通 NO.2 中银证券投教基地 银兜兜奇遇记：穿越宋朝悟出的财富真经，原来是。。。。。。 NO.3 华安基金 9月美国就业略偏弱，12月仍有较大概率降息 # " 趣投教 NO.1： 基金君走现场 价格翻倍都一货难求！基金君实探华强北：存储芯片缘何成为"黑金条"？ # " 热门直播 NO.1： 平安证券 把握中国资产确定性，共享高质量发展红利 NO.2： 中金财富 NO.2： 工银瑞信基金 走进工银瑞信基金系列视频|第12期 底线，生命线 NO.3： 对话 香港数码港郑松岩：数码港可协助企业对接资本市场 云会客厅|2026全球宏观经济与资产配置展望——中金公司缪延亮对话法巴资管Daniel Morris NO.3： 华为 华为Mate 80系列 | Mate ...

公募基础设施REITs周报 2025/11/22 REIT s 2025/11/17~2025/11/21 REIT s 1.14% 97.20 5.05% 1.78% 0.02% 0.14% 2.30% > >REIT s> > > 2 二级市场价量表现 二级市场估值情况 市场相关性统计 一级市场跟踪 3 REITs & & REITs REITs 数据来源： Wind，国金证券研究所 4 REIT s REIT 0.96 % REIT 0.56 % REIT 0.36 % REIT 0.36 % REIT - 0.05 % REIT REIT REIT REIT REIT 0.47 0.42 0.17 0.17 0.17 REIT REIT REIT REIT REIT 12.76 % 8.87 % 8.37 % 7.91 % 7.12 % | | | | | | | 上市首日回 上市以来 上市以来成交量 | | 本周成交量 | 上周成交量 | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | - ...

Core Viewpoint - The article emphasizes the importance of private investment as a key driver for high-quality economic development in China, highlighting recent government measures aimed at promoting private investment through clear and actionable policies [1]. Group 1: Policy Framework - The "13 Measures for Promoting Private Investment" issued by the State Council aims to inject strong momentum into private investment by addressing market concerns with precise policy measures [1]. - The document focuses on "strengthening guarantees," which is a recurring theme throughout, establishing a comprehensive institutional framework that supports private investment from the stages of "daring to invest" to "able to invest" and "investing well" [1]. Group 2: Investment Participation - The measures allow for a minimum private capital holding of over 10% in traditional state-dominated sectors such as railways and nuclear power, marking a significant policy breakthrough that transforms abstract access permissions into clear property rights [2]. - The commitment to "improve the long-term mechanism for private enterprises' participation in major projects" signifies a shift from pilot openings to institutional openings, alleviating concerns about policy changes for private capital [2]. Group 3: Financial Tools - The measures propose increasing central budget investments to support eligible private investment projects and encourage the issuance of Real Estate Investment Trusts (REITs) for infrastructure projects, showcasing a diversified and precise financial support mechanism [3]. - The introduction of REITs provides a complete cycle for private capital to engage in large infrastructure projects, promoting a healthy investment cycle by revitalizing existing assets and releasing dormant funds [3]. Group 4: Financial Innovation - The measures address long-standing issues of financing difficulties by implementing a "duty of care exemption" and a "bad debt tolerance system," aiming to resolve the deep-seated contradictions in financial institutions' lending behaviors [4]. - A "green channel" for technology-based enterprises is established to facilitate their access to financing and mergers, creating a comprehensive financing system that supports both heavy and light asset projects [4]. Group 5: Service Optimization - The measures require banking institutions to set annual service goals for private enterprises and promote an "innovation points system" to guide financial resources towards technology-driven companies [6]. - Increasing the government procurement prepayment ratio to over 30% aims to alleviate cash flow pressures on private enterprises, reflecting a supportive policy environment at both macro and micro levels [6].

Group 1 - The State Council's meeting on November 14 emphasized the importance of the "Two Heavy" construction in the context of the 14th Five-Year Plan, focusing on strategic, forward-looking, and holistic requirements [1] - The meeting highlighted the need for enhanced project review processes, with a focus on innovation and intangible asset investment to promote new productive forces [1] - Experts predict that the issuance scale of long-term special government bonds to support "Two Heavy" construction may gradually expand, making it a key driver for effective investment and new productive force cultivation over the next five years [1] Group 2 - The State Council's recent measures to stimulate private investment include 13 targeted policy initiatives aimed at enhancing the quality of private investment [2] - Key initiatives allow private capital to hold over 10% in major projects and encourage participation in sectors like low-altitude economy and commercial aerospace [2] - The National Development and Reform Commission reported that investment accumulation contributed an average of 30.2% to China's economic growth over the past four years [2] Group 3 - As of October 29, 500 billion yuan of new policy financial tools have been fully allocated, indicating a strong focus on investment [3] - The National Development and Reform Commission is working with the China Securities Regulatory Commission to expand the infrastructure REITs market, aiming to increase the scale of investment [3] - Previous infrastructure REITs projects have raised a total of 207 billion yuan, expected to drive over 1 trillion yuan in new project investments [3]

Core Viewpoint - The recent measures introduced by the State Council aim to create a better environment for private capital to participate in key investment areas, particularly in energy, infrastructure, and technological innovation [1][3][5]. Group 1: Policy Measures - The document outlines 13 specific measures focusing on "expanding access, removing obstacles, and strengthening guarantees" to address issues like "difficult access" and "financing challenges" [3][5]. - Key projects requiring national approval, such as nuclear power and hydropower, will now have a feasibility study for private capital participation, encouraging shareholding ratios to exceed 10% [3][5]. - By 2025, the shareholding ratio for private capital in nuclear power projects is expected to increase from 10% to between 10% and 20% [3][5]. Group 2: Investment Environment - The energy sector has seen a shift towards a supportive system for private investment, with private enterprises becoming key players in traditional and emerging sectors [6][8]. - Private companies now account for nearly 60% of the electricity sales market, and the number of oil and gas transporters has surged from 5 in 2019 to 1005 [6][8]. - Policies promoting green electricity direct supply have enabled private renewable energy companies to supply electricity directly to users, enhancing local consumption [6][8]. Group 3: Investment Models and Innovations - The participation model of private capital in the energy sector is evolving from a focus on production to a comprehensive solution involving "technology + products + services" [10]. - Companies are encouraged to strengthen their technological capabilities and innovate their business models to transition from traditional suppliers to integrated service providers [10]. - Long-term planning is emphasized as essential for companies to navigate market cycles, with significant investments in R&D and technology innovation being crucial for future competitiveness [10][13]. Group 4: Financing Solutions - Infrastructure REITs have emerged as a vital tool to address financing challenges for private investment projects, with 105 REITs projects recommended and 83 listed, raising a total of 207 billion yuan [12]. - REITs provide a "exit channel" for private capital, facilitating a cycle of investment, operation, exit, and reinvestment [12]. - The energy sector will enhance mechanisms for private capital participation in major projects, refining shareholding requirements and promoting fair competition [12].

证券研究报告 | 2025年11月16日 公募 REITs 周报（第 42 期） 小幅回暖，跑赢含权指数 核心观点 固定收益周报 主要结论：本周 REITs 指数小幅上涨，跑赢主要含权指数，保障房、交通、 消费板块涨幅领先。产权类 REITs 和特许经营权类 REITs 平均周涨跌幅为 +0.7%、+1.0%。从主要指数周涨跌幅对比来看，中证 REITs>中证转债>中证 全债>沪深 300。截至 2025 年 11 月 14 日，产权 REITs 股息率比中证红利股 股息率均值低 6BP,经营权类 REITs 内部收益率均值与十年期国债收益率利 差为 253BP。 中证 REITs 指数周涨跌幅为+0.8%，年初至今涨跌幅为 3.6%。截至 2025 年 11 月 14 日，中证 REITs（收盘）指数收盘价为 818.17 点，整周 （2025/11/7-2025/11/14）涨跌幅为+0.8%，表现强于中证转债指数（+0.5%）、 中证全债指数（+0.1%）和沪深 300 指数（-1.1%）。年初至今，各类主要指 数涨跌幅排序为：中证转债（+18.6%）>沪深300（+17.6%）>中证REITs（+3. ...

《关于进一步促进民间投资发展的若干措施》(以下简称《若干措施》)近日出台，提出了13项政策举措，从扩大准入、打通堵点、 强化保障三个主要方面，支持民间资本参与重点领域投资、支持民间资本更多投向生产性服务业领域。政策措施力求畅通民营企业 投资渠道、破解民间投资发展堵点、积极支持民营企业扩大有效投资。 重点领域项目民间资本持股比例可超10% 《若干措施》提出，铁路、核电、水电等重点领域项目，鼓励支持民间资本参与，并明确民间资本持股比例可在10%以上。政策既 明确了可参与的重点领域，并量化了具备条件的项目持股比例。 民间投资在多领域将有更多准入机会 国家发展改革委投资司副司长关鹏表示，比如近年来，持续推动核电等重大项目引入民间资本，有的核电项目最高参股比例已达 20%。 中国民营经济研究会常务理事李志起表示，这些数字化的目标比以前更加精准和到位。在产业的发展方向上，向低空经济、商业航 天这些新兴的新的生产力领域都鼓励民营企业来大胆的进入。可以说，口开得更宽，民营企业的获得感会更强。 开放领域延伸至"高精尖"科研创新领域 开放领域还延伸到"高精尖"科研和创新领域，从实体经济延伸到服务业。 支持民间资本有序流向高价值服 ...

Core Viewpoint - The newly implemented measures aim to promote private investment in China by expanding access, addressing bottlenecks, and strengthening support mechanisms for private capital participation in key sectors [1][4][6]. Group 1: Key Areas for Private Investment - The measures encourage private capital participation in state-led sectors such as railways, nuclear power, hydropower, oil and gas pipelines, and water supply, allowing for a shareholding ratio of over 10% for eligible projects [4][6]. - The government plans to enhance policies for private capital in the energy sector, focusing on long-term mechanisms for private participation in major projects [6][39]. Group 2: Support for High-Value Services and Innovation - The initiative extends to high-tech research and innovation sectors, promoting private investment in industrial design, common technology services, inspection, and quality certification [9][11]. - The government aims to support the transformation of manufacturing services, encouraging private enterprises to explore pathways for service-oriented manufacturing [9][11]. Group 3: Infrastructure REITs and Financing Channels - The government has been actively supporting the issuance of infrastructure REITs for eligible private investment projects, with 14 projects already listed, raising nearly 30 billion yuan [12][14]. - The measures aim to broaden financing channels for private enterprises, facilitating a virtuous cycle of investment and financing [14][42]. Group 4: Development of Pilot Platforms - The government has issued a notification to accelerate the establishment of high-level pilot platforms in manufacturing, targeting key industries and sectors [15][18]. - There are over 2,400 pilot platforms established, with 241 prioritized for development, supporting nearly 25,000 service projects [21][22]. Group 5: Policy Clarity and Institutional Support - The new measures provide clear guidelines for private enterprise participation in major projects, including specific requirements for feasibility studies [28][32]. - The government emphasizes the importance of precise and actionable policies to enhance private sector engagement in critical areas [35][39]. Group 6: Comprehensive Financing Services - The government plans to create a national comprehensive financing service platform to improve the efficiency of investment and financing for private enterprises [40][44]. - Enhanced collaboration with various funding channels and financial services is expected to increase the effectiveness of policies promoting private investment [42][44].

央视网消息：《关于进一步促进民间投资发展的若干措施》11月10日正式落地，从扩大准入、打通堵点、强化保障三个主要方面，让民间 投资有更多的准入机会。国家发展改革委11月11日举行专题新闻发布会，介绍进一步促进民间投资发展有关情况。 《关于进一步促进民间投资发展的若干措施》提出，铁路、核电、水电、输电通道、油气管网、供水等由国有资本主导的领域，鼓励支持民间 资本参与。对具备条件的项目，民间资本持股比例可在10%以上。此次政策一大亮点在于，它明确了可参与的重点领域，并量化了具备条件的 项目持股比例。 国家发展改革委相关负责人介绍，将进一步加大能源领域引入民间资本的政策供给，完善民营企业参与核电、水电、跨省跨区直流输电通道等 重大项目长效机制。持续深化能源市场化改革，加快建设全国统一能源市场体系，从管网接入与使用、信息公开等方面完善机制、强化监管， 为民营企业参与能源投资创造更加有利的环境。 除了重资产领域，开放领域也延伸到"高精尖"科研和创新领域，从实体经济延伸到服务业。国家发展改革委相关负责人介绍，下一步，将支持 民间资本有序流向高价值服务行业，聚焦工业设计、共性技术服务、检验检测、质量认证等重点环节。支持民营 ...