Group 1 - A-shares experienced a strong start in 2026, with the Shanghai Composite Index rising above 4000 points and achieving a record 12 consecutive daily gains, the longest since March 1992 [1] - The market's trading volume surged to 2.57 trillion yuan, marking a two-month high, with sectors like media, pharmaceuticals, and electronics leading the gains [3][4] - Factors contributing to this "opening red" include a strong performance in the Hong Kong market during the New Year holiday, a rebound in China's manufacturing PMI, and a favorable exchange rate for the yuan attracting foreign capital [4][5] Group 2 - The expectation of a spring market rally is supported by positive external market trends and pre-holiday investments in technology stocks, with significant IPOs anticipated to catalyze the tech sector [5][6] - The upcoming earnings forecasts for 60% of listed companies by the end of January may drive further market momentum, particularly in high-growth industries [6] - The market is expected to transition from a phase of low trading volume to a rebound, with a shift in investment focus from defensive sectors to technology and manufacturing [6][8] Group 3 - Key investment areas include consumer electronics, AI, and cyclical sectors, with expectations for performance improvements driven by the AI industry and domestic computing power projects [10][11] - The outlook for the A-share market remains optimistic, with potential for further upward movement supported by macroeconomic policies and a favorable liquidity environment [8][9] - The emphasis on self-reliant technological innovation is seen as crucial for long-term growth, particularly in sectors like domestic computing power and commercial aerospace [11]

1月5日，江西省瑞昌经开区智造小镇一科技公司车间内，工人正在生产线上组装智能终端产品。魏东升 摄（人民视觉） 在国务院新闻办公室1月5日举行的新闻发布会上，国家发展改革委副主任王昌林介绍，国家发展改革委 与有关部门和沿江省市一道，坚持把共抓大保护摆在第一位，落实《长江经济带发展规划纲要》，制定 五年实施方案，推进三年行动计划，推动经济社会发展全面绿色转型。经过不懈努力，长江经济带走出 了一条生态优先、绿色发展的新路子，长江母亲河重新焕发出了生机活力。 发展的底盘更牢 在当天的新闻发布会上，王昌林介绍了长江经济带发展十年工作进展和成效。王昌林表示，10年来，共 抓大保护、不搞大开发的理念在长江经济带落地生根，生态长江底色更加鲜明。 "10年来，科技创新和产业创新在长江经济带加快融合，创新长江动能更加强劲。"王昌林说，有关部门 坚持把科技创新作为主动力，持续推进上海（长三角）国际科技创新中心和武汉、成渝地区区域科技创 新中心建设，积极培育壮大新兴产业和未来产业，创造出"人造太阳"亿度千秒运行、靶向抗癌药等一批 处于世界先进水平的科技成果，涌现出DeepSeek、宇树科技等一批具有国际竞争力的创新型企业，形 成了汽 ...

Core Viewpoint - The new subsidy policy for 2026 aims to stimulate consumption and support the upgrade of consumer goods, particularly focusing on smart devices and energy-efficient products, with a total of 625 billion yuan allocated for the initiative [1][5]. Group 1: Subsidy Policy Changes - The 2026 subsidy policy includes smart glasses for the first time, reflecting a dual focus on consumer upgrade and industrial strategy [2]. - The subsidy covers digital and smart products such as smartphones, tablets, smartwatches, smart glasses, and smart home products, with a 15% subsidy on products priced under 6000 yuan, capped at 500 yuan per item [1][5]. - The policy aims to enhance the "subsidy rate" for key consumer goods, targeting a broader audience and stronger economic impact [1]. Group 2: Market Impact and Trends - The inclusion of smart glasses is expected to drive significant growth, with projected sales in China reaching over 3 million units by 2026, marking a shift from niche to mainstream adoption [2]. - The global XR device shipment is forecasted to decline by 10.3% in 2024, while AI glasses are anticipated to see a 215.7% increase in sales in 2025, driven by the new subsidy policy [2]. - The policy is expected to lower consumer purchase costs, stimulate demand, and promote the adoption of mid-range products [3]. Group 3: Support for Energy-Efficient Products - The subsidy policy also emphasizes support for energy-efficient home appliances, aligning with national carbon reduction goals [4]. - Consumers purchasing energy-efficient appliances such as refrigerators, washing machines, and air conditioners will receive a 15% subsidy, capped at 1500 yuan per item [5]. - The policy aims to create a virtuous cycle of consumption driving industry growth and vice versa, while also stabilizing expectations for small and medium enterprises [5]. Group 4: Automotive Sector Support - The subsidy continues to support vehicle scrappage and replacement, focusing on reducing consumer purchase pressure and promoting green transformation in the automotive industry [6]. - For scrappage updates, consumers can receive up to 20,000 yuan for purchasing qualifying new energy vehicles, while replacement updates offer up to 15,000 yuan for similar purchases [6]. - The policy's precision in targeting resources aims to ensure that benefits reach consumers effectively, encouraging companies to enhance product performance [6].

Group 1 - The core message emphasizes the importance of high-quality development and innovation in driving economic growth, as highlighted by Premier Li Qiang during his visit to Guangdong [1][2] - The focus on technological innovation is crucial for future competitiveness, with a call for enhanced support for enterprises in terms of policies, funding, and talent [1] - The development of the Guangdong-Hong Kong-Macao Greater Bay Area is seen as a key opportunity to gather innovative resources and strengthen research collaboration in emerging fields and core technologies [1] Group 2 - The visit included an inspection of the digital and intelligent production lines at Midea Kitchen Appliances, indicating a shift towards meeting new consumer demands through quality product development [2] - Emphasis was placed on the integration of infrastructure and regulatory standards to enhance connectivity and collaborative development within the Greater Bay Area [2] - The government is encouraged to deepen reforms in key areas, improve service efficiency, and optimize the business environment to stimulate economic growth [2]

党的二十届四中全会审议通过的"十五五"规划建议，围绕"加快高水平科技自立自强，引领发展新质生 产力"作出专章部署，对"一体推进教育科技人才发展"提出一系列明确要求。2025年中央经济工作会议 强调，"因地制宜发展新质生产力""制定一体推进教育科技人才发展方案"。当前和今后一个时期，如何 统筹推进教育科技人才一体发展，筑牢新质生产力发展的基础性、战略性支撑，是亟待回答好的理论和 实践课题。 （文章来源：经济日报） 强化协同融合。支持鼓励高等院校、科研机构与龙头企业组成创新联合体，以开展合作办学、共建联合 实验室以及研发中心等方式，打造教育科技人才一体化发展的协同创新生态系统。充分利用"揭榜挂 帅""赛马制"等机制，通过跨部门、跨系统、跨层级的组织协调方式，将技术路线决定权、科研经费支 配权、资源调度权合理有序下放，充分激发创新主体的积极性和创造力。建立动态的学科调整机制，强 化基础学科、新兴学科、交叉学科建设和拔尖人才培养，深化新工科、新医科、新农科、新文科建设， 强化科技教育和人文教育协同。拓宽教育、科技等领域的人才流通渠道，建设"青年科技人才—科技领 军人才—战略科学家"的"金字塔型"人才梯队，完善协同育人 ...

Group 1: Artificial Intelligence in Healthcare - Chinese artificial intelligence technology is becoming more accessible and sustainable, addressing national development concerns and aiding local economic and social development [1] - The introduction of United Imaging's MRI system in Spain significantly reduces diagnosis time, with imaging speed improved from 25 minutes to 12 minutes for lumbar scans and from 1 hour to 30 minutes for neurological scans [3][4] - The new MRI system enhances image quality through AI reconstruction, allowing for better diagnosis of previously unclear areas, thus improving patient outcomes and operational efficiency in hospitals [3][4] Group 2: Transportation and Delivery Innovations - Didi Chuxing's order distribution system in Brazil utilizes real-time data analysis to improve matching efficiency, reducing wait times for passengers and drivers [7] - The 99 platform, acquired by Didi, has integrated AI and big data to enhance user experience and optimize delivery routes, contributing to increased driver income [6][7] - The establishment of the "Sustainable Mobility Alliance" in Brazil aims to promote electric vehicle adoption, with over 30 companies participating, reflecting a commitment to sustainable transportation solutions [8] Group 3: Educational Technology in Language Learning - iFlytek's intelligent teaching system in Thailand enhances Chinese language education by automating lesson preparation and providing real-time feedback on student performance [9][10] - The system has led to a significant increase in student participation, with average speaking instances per class rising from 2 to 12, indicating a shift towards a more student-centered learning approach [11] - iFlytek plans to expand its collaboration with ASEAN countries to further develop localized educational resources and training, aiming to create a more intelligent and inclusive educational ecosystem [11]

Core Viewpoint - Beijing's Development and Reform Commission, in collaboration with other municipal agencies, has issued measures to enhance the city's pilot testing service capabilities, promoting the integration of technological and industrial innovation [1] Group 1: Policy Measures - The measures include 14 policy initiatives focusing on the layout of pilot testing platforms, continuous improvement of service capabilities, optimization of the service ecosystem, and strengthening of support measures [1] - A number of pilot testing platforms will be established in leading industries such as artificial intelligence, healthcare, green and low-carbon technologies, new materials, integrated circuits, aerospace technology, and new safety emergency technologies [1] - For new projects, a subsidy of 35% of total investment, capped at 100 million yuan, will be provided [1] - For industries such as new generation information technology and intelligent connected vehicles, clusters of pilot testing platforms will be built, with a subsidy of 25% of total investment, capped at 50 million yuan for new projects [1]

Core Insights - Ningbo has steadily increased its GDP since joining the "trillion yuan club" in 2018, achieving a GDP of 1.35 trillion yuan in the first three quarters of 2025, with a year-on-year growth of 5.0% [2] - The city is recognized as a cradle for national manufacturing champions, boasting 119 national-level manufacturing champions, maintaining the top position in China for eight consecutive years [2][4] - Ningbo's economy is characterized by a diverse structure, with significant advancements in emerging sectors such as artificial intelligence, robotics, and high-tech services, which saw investment growth rates of 9.3%, 41.2%, and 56.7% respectively [2][3] Economic Structure and Innovation - Ningbo is a vital economic center in the Yangtze River Delta, with a robust manufacturing, foreign trade, and logistics industry [3] - The city has implemented an innovation-driven development strategy, with 90% of R&D activities and over 80% of invention patents originating from enterprises [3] - High-tech enterprises in Ningbo have reached a total of 8,855, with an average annual growth rate exceeding 30% over the past three years [3] Manufacturing and Global Presence - Ningbo's manufacturing sector is recognized globally, with significant contributions from companies like Sunny Optical Technology, which supplies one in three Android smartphones with optical lenses [4] - The city has seen a rise in the number of enterprises capable of producing humanoid robots, increasing from 3 to 8 since 2025, supported by a growing supply chain [6] - The global market share of Ningbo's manufacturing products continues to expand, with companies like Longyan Technology leading in the optical film market with a 55% share [5] Financial Support and Innovation Ecosystem - Ningbo's financial sector has shown robust growth, with a financial industry value added of 1,224.3 billion yuan in the first three quarters of 2025, marking a 13.8% increase [13] - The city has established a multi-layered risk mitigation system to support small and micro enterprises, facilitating access to financing [14] - Financial tools such as specialized loans and transformation insurance are being utilized to support the transition of manufacturing and emerging industries [13][14] Policy and Strategic Development - Ningbo has introduced various policies to enhance its innovation ecosystem, including the establishment of national-level innovation platforms and support for high-tech enterprises [8][10] - The city aims to build 10 national-level innovation platforms and over 1,000 provincial-level R&D institutions by 2030 [8] - Collaborative efforts between government and enterprises are emphasized to foster innovation and address industry challenges [10] Market Expansion and Trade - Ningbo has accelerated its international trade efforts, with over 300 companies participating in exhibitions abroad, achieving an intended transaction amount exceeding 5 billion USD [11] - The city has seen a 7% increase in imports and exports to Central and Eastern European countries, with specific companies reporting significant growth in this market [12] - Cross-border e-commerce has also flourished, with Ningbo's special area for cross-border e-commerce exports reaching 47.99 billion yuan, a 16.9% increase year-on-year [12] Conclusion - Ningbo is positioned as a "Champion City" with a strong manufacturing base and a commitment to innovation, aiming to transform into a "New Quality City" through strategic initiatives and financial empowerment [24]

全国统一大市场建设条例是全国统一大市场的制度底座。支撑规则统一的是贯穿市场运行全环节的制度 规范，只有不断完善市场制度，才能确保各类市场活动从准入、交易到监管、退出全流程均有章可循、 有规可依。公平竞争审查规则、市场准入与退出规范、市场监管执法标准、要素配置制度等，均要形成 与市场经济规律相契合、覆盖全国各区域各行业的统一配套。这将成为覆盖全面、标准一致、执行刚性 的市场基础制度规则体系的重要组成部分。 破除要素流动障碍，就是要构建与各类要素属性精准适配的统一要素市场体系。技术、人力资源、数据 与资本等要素，是支撑全国统一大市场运转的"血液"，其流动效率直接决定市场活力。这就要求制度设 计既需打破区域分割与垄断壁垒，还需针对不同要素特性搭建适配的流通框架，让要素能遵从市场规律 顺畅循环。 2025年以来，随着全国统一大市场建设持续深入，不少问题得到解决，目前仍然存在的卡点难点大多是 难啃的"硬骨头"，涉及政府与市场关系、地方经济发展方式转型等。中央经济工作会议明确提出，制定 全国统一大市场建设条例，深入整治"内卷式"竞争。打通全国统一大市场的"毛细血管"，还需系统破除 制度堵点与市场断点，更有效地畅通制约要素 ...

甬兴证券总裁闻明刚接受中国证券报记者专访时表示，展望"十五五"，随着国家发展战略进一步向培育 新质生产力倾斜，资本市场将被赋予更为重要的历史使命，"我们将持续深耕宁波，服务好实体经济， 在中国式现代化的区域实践中贡献更多的甬兴力量。" ● 本报记者 罗京 与区域共成长 尽管成立仅五年，甬兴证券已在竞争激烈的证券行业中稳步扎根，展现出蓬勃的发展势头。作为国内十 多年来首批获准设立的纯内资、多牌照综合性券商，甬兴证券从诞生之初就承载着服务宁波经济、助力 区域金融中心建设的重要使命。闻明刚表示："我们始终铭记金融服务实体经济的初心，将自身发展融 入地方经济脉动，全力书写好金融'五篇大文章'。" 在闻明刚看来，甬兴证券的业务布局始终围绕着"功能型、集约型、专业化、特色化"的发展方向展开。 公司以"财富、投行、自营"为三大核心支柱，"资管、研究"为战略双翼，通过持续推进"三投联动"，不 断提升对实体经济的综合服务能力。 截至2025年9月，甬兴证券累计服务民营企业融资规模超过140亿元，完成各类投行项目19个，涵盖 IPO、再融资、并购重组等多个领域，多项业务指标已稳健跻身行业中上游。 在服务本土企业方面，甬兴证券的表 ...