Economic Growth and Development - During the "14th Five-Year Plan" period, the GDP of Zhongshan is expected to exceed 420 billion yuan by 2025, having crossed the thresholds of 350 billion and 400 billion yuan [1] - The total number of business entities in Zhongshan has reached 740,000, marking a 60% increase over five years [1] - The scale of the top ten industrial clusters has surpassed 700 billion yuan, with industrial investment expected to double by 2024 compared to 2021 [1] Infrastructure and Transportation - The completion of the Shizhong Channel has led to an average daily traffic flow of 88,000 vehicles, facilitating integration into the Greater Bay Area [1] - Zhongshan plans to establish a 66 square kilometer economic cooperation zone, implementing 800 government services under the "Deep Zhongshan Office" initiative [1] Industry and Innovation - Zhongshan has been selected as a pilot city for the digital transformation of small and medium-sized enterprises, with 4,854 industrial enterprises achieving a digital transformation coverage rate of 93% [3] - The emerging industries, particularly in biomedicine and renewable energy, are experiencing significant growth, with the renewable energy sector achieving an annual output growth rate of 16% [3] - Research and development funding has exceeded 10 billion yuan for three consecutive years, with a growth rate of over 20% for two years [3] Environmental and Social Governance - Zhongshan has initiated a comprehensive water treatment campaign, investing 20 billion yuan to address water pollution, with over 7,000 kilometers of new sewage pipelines constructed [2] - The city has completed the renovation of over 60,000 rural houses, achieving 100% completion of beautiful and livable villages in rural areas [3] - Zhongshan has been recognized as a qualified city for modern social governance, with a stable and improving safety situation [3]

Group 1 - The core direction for central enterprises is to focus on the real economy, strengthen key core technology breakthroughs, and promote deep integration of technological and industrial innovation, which is essential for high-quality development and advancing Chinese-style modernization [1][2] - The "14th Five-Year Plan" emphasizes the importance of building a modern industrial system and consolidating the foundation of the real economy as a strategic task, highlighting the need to focus economic development efforts on the real economy [1][2] - Central enterprises are seen as the backbone for implementing major national strategies, driving technological innovation, and leading industrial structure upgrades, thus playing a pivotal role in strengthening the real economy [1][2] Group 2 - The development direction of central enterprises must revolve around the real sectors such as industrial manufacturing, with a clear stance against the trend of capital moving away from the real economy, which has previously led to significant risks [2][3] - The State-owned Assets Supervision and Administration Commission has issued guidelines to hold central enterprises accountable for failing to serve their main business and for moving away from the real economy, establishing clear operational boundaries [2] - Central enterprises are encouraged to enhance the management of their primary responsibilities, improve the efficiency of state capital allocation, and focus on developing advanced manufacturing as the backbone of a modern industrial system [2][3] Group 3 - The material and technological foundation for Chinese-style modernization is industrial modernization, which requires central enterprises to deepen their engagement in the real economy and focus on key core technology breakthroughs [3][4] - There is a need to strengthen the role of technological innovation, increase investment in basic research, and focus on long-term, high-investment fields where other enterprises may lack the capability or willingness to engage [3] - Central enterprises should aim to become sources of original technology and lead the modern industrial chain, concentrating efforts on overcoming significant technological challenges and producing major innovative scientific achievements [3] Group 4 - Focusing on the real economy involves not just adhering to traditional models but driving industries towards high-end, intelligent, and green transformations through innovation [4] - Traditional industries must undergo transformation and upgrading through equipment renovation, technological breakthroughs, and process enhancements to strengthen the supply of high-end products and services [4] - The integration of modern information technology with traditional industries is crucial, including the establishment of digital workshops and smart factories, as well as promoting green manufacturing practices [4]

立足实体经济，意味着央企的发展方向、资源配置和创新活动，必须紧紧围绕工业制造等实体部门。我 国发展过程中，曾出现资本脱实向虚的错误苗头，带来巨大风险。国务院国资委近日发文，明确对服务 主业不力、脱实向虚等行为追究相应责任，给央企经营划定了红线。央企应落实相关要求，坚持有所为 有所不为，完善主责主业管理，进一步提高国有资本配置和运行效率。重视发展制造业，引领构建以先 进制造业为骨干的现代化产业体系。因企制宜培育新质生产力，更大力度布局新兴产业和未来产业，超 前谋划具身智能、生物制造等前沿赛道。着力打造市场化、专业化国有资本运作平台，当好发展实体经 济的长期资本、耐心资本和战略资本。 中国式现代化的物质技术基础是产业现代化。央企只有深耕实体经济，强化关键核心技术攻关，才能引 领现代化产业体系建设。必须强化科技创新主体地位，加强原始创新和关键核心技术攻关，提高基础研 究投入占比，特别是在研发周期长、投入大、其他企业涉足意愿不强或缺乏能力的领域坚定投入。紧盯 未来必争领域，勇当原创技术策源地和现代产业链"链长"，集中力量攻克一批辐射性、全局性、战略性 技术，产出一批原创性、引领性重大科技成果。着力打破创新成果转化运用 ...

（一） 踏进新的一年、迈入"十五五"时期，面对深刻复杂变化的发展环境，我们要以什么样的奋斗，把今后5 年我国发展的新蓝图变成宏阔壮美的新实景？ "脚要踩在大地上。我们干任何事情都有内在规律。"2025年11月，习近平总书记在听取海南自由贸易港 建设工作汇报时强调。 "越是伟大的事业，越是充满挑战，越需要知重负重。全党同志都要保持'越是艰险越向前'的英雄气 概，保持'敢教日月换新天'的昂扬斗志，埋头苦干、攻坚克难，努力创造无愧于党、无愧于人民、无愧 于时代的业绩。" 2021年建党百年重大历史节点、"七一勋章"首次颁授仪式上，总书记这段号召全党同志不懈奋斗、永远 奋斗的重要讲话，每每读来总是让人更加清醒、更加自信，充满豪情、充满干劲。 以百姓心为心，这是党的初心，也是党的恒心。政绩为人民而创，才能赢得人民衷心拥护。 岁末年初，总书记提出一系列明确要求，"坚持为人民出政绩、以实干出政绩""主动担重、担难""书写 无愧于人民的时代答卷"，这是全党同志在新的一年再启新程的奋斗号令。 胸怀"国之大者"，"脚踩大地"，因地制宜做好工作，这是我们以科学方法把握规律、以务实作风推进落 实，实现"十五五"良好开局的方法指引。 ...

很不平凡的2025 带领我们 止 E 643期 年度观察 新华社国内部制作 新华社第一工作室出品 2025年，进一步全面深化改革的重要一年，脱贫攻坚任务完成后5年过渡期的最后一年，"十四 五"收官之年、"十五五"谋划之年，改革稳定发展任务繁重。 习近平总书记带领我们坚定不移办好自己的事，迎难而上、砥砺前行，在强国建设、民族复兴征程 中写下"很不平凡"的一笔—— （一） 习近平总书记为中国经济 指明发展方向 出席民营企业座谈会 为促进民营经济高质量发展 注入"强心剂" FITAL 仕王国内云上 为发展新质生产力指明基本路径 阐明经济大省挑大梁的着力点 提出"以文化赋能经济社会发展" 而此时,大洋彼岸 一场"风暴"正在悄然酝酿 4日 美国宣布对所有贸易伙伴征收 "对等关税",掀起烈度空前的 关税战 奉陪到底 打. 谈, 大门敞开 以习近平同志为核心的党中央 沉着冷静、有效应对 4月25日 习近平总书记主持中共中央政治局会议 明确"着力稳就业、稳企业、稳市 场、稳预期" 习近平主席在一年中4次 同特朗普总统通电话 深刻指出"中美完全可以相互 成就、共同繁荣，造福两国、 惠及世界" · 推进中国式现代化, 科技要打头 ...

更好统筹有效市场和有为政府，充分发挥市场在资源配置中的决定性作用，更好发挥政府作用，加快构 建统一、开放、竞争、有序的市场体系，做到既"放得活"又"管得好"。 实现高质量发展和高水平安全良性互动，强化底线思维，有效防范化解重点领域风险，在发展中固安 全，在安全中谋发展，以新安全格局保障新发展格局。 把扩大内需作为首要经济任务，从需求端引导供给升级，从供给侧激发潜在需求，在解决群众急难愁 盼、增进民生福祉中培育新的经济增长点，形成更高水平供需动态平衡。 坚决守牢实体经济根基，坚持实体经济为本、制造业当家，加速提高制造业比重，构建以先进制造业为 骨干的现代化产业体系。 齐鲁晚报.齐鲁壹点孔茜 2026年作为深入贯彻党的二十届四中全会精神、推动"十五五"实现良好开局的关键之年，济宁市立足加 快迈向万亿城市的"一个目标"，以"稳中求进、提质增效"为总基调，聚焦五大关键维度谋篇布局，为开 创各项事业勇争先筑牢根基。 坚持以推动高质量发展为主题，以新发展理念引领高质量发展，积极融入国内国际双循环，因地制宜发 展新质生产力，更大力度优存量、扩增量、强变量，以高质量发展确定性应对各种不确定性。 ...

Core Insights - The article emphasizes the importance of transforming macro strategies into concrete actions, focusing on key projects and reforms to drive economic growth in Qinghai [1][4] Group 1: Economic Development Strategies - The provincial economic work conference has outlined eight key tasks, including "dual carbon" initiatives, expanding effective demand, and improving people's livelihoods, reflecting a comprehensive approach to development and safety [1] - The focus on ecological priorities aims to establish Qinghai as a national park demonstration province and a clean energy industry hub, contributing to the national energy strategy [1] Group 2: Investment and Consumption - Expanding effective demand is crucial for stabilizing economic growth, necessitating a synergy between investment and consumption while integrating into the national market [2] - The strategy includes enhancing international eco-tourism and developing year-round tourism through initiatives like the "Ice and Snow+" economy [2] Group 3: Industrial Development - Building a modern industrial system is fundamental, with a focus on creating a "China Solar Thermal Capital" and a "China Green Valley" through various energy and material innovation tracks [2] - The development of green electricity and aluminum, as well as the establishment of a national-level green computing base, are highlighted as key areas for industrial growth [2] Group 4: Reform and Opening Up - The article stresses the need for deeper reforms and higher levels of openness to stimulate economic vitality, including market-oriented reforms and optimizing the business environment [3] - The promotion of the "Belt and Road" initiative and the establishment of logistics hubs are part of the strategy to enhance regional connectivity and trade [3] Group 5: Regional Coordination - Coordinated regional development is essential, with an emphasis on urban-rural integration and supporting core areas to lead growth while encouraging potential regions to seize opportunities [3] - The construction of urban clusters and new-type urbanization is aimed at improving public service equality [3] Group 6: Safety and Stability - The article highlights the importance of maintaining safety as a prerequisite for development, advocating for risk prevention and social stability measures [3] - Emphasis is placed on fostering national unity and creating a model province for community awareness [3] Group 7: Implementation and Progress - The article concludes with a call for focused efforts and practical actions to achieve significant progress in building a modernized Qinghai, aiming for high-quality development outcomes [4]

Core Viewpoint - The recent appreciation of the Renminbi (RMB) has sparked discussions among experts and institutions about its potential benefits and implications for the Chinese economy, with some suggesting a significant increase in its value [2][4]. Group 1: Benefits of RMB Appreciation - RMB appreciation could lead to a substantial increase in household purchasing power, with a potential rise from $23 trillion to $34.5 trillion if the currency appreciates by 50% [4]. - It may attract foreign investment, helping stabilize and rebound Chinese assets [4]. - A stronger RMB could reduce export competitiveness, potentially decreasing trade friction [4]. Group 2: Historical Context and Caution - The article draws parallels with Japan's experience during the Plaza Accord in the 1980s, where a forced appreciation of the yen led to significant economic challenges, including increased unemployment and a financial bubble [5][12]. - Japan's government believed that a controlled appreciation of the yen (within 20%) would not harm its economy, but the subsequent uncontrolled speculation led to severe consequences [8][12]. Group 3: Current Economic Implications - The notion that RMB appreciation will directly boost domestic consumption is questioned, as most consumers do not frequently purchase foreign goods or have overseas assets [14]. - The expectation that foreign capital will flow into China due to a stronger RMB is challenged, suggesting that capital may instead seek to convert RMB to USD and exit [16]. - The idea that reducing export competitiveness will alleviate trade tensions with the U.S. is deemed unrealistic, as geopolitical competition persists regardless of currency value [16]. Group 4: Future Considerations - While the RMB is considered undervalued based on purchasing power parity, any appreciation must align with the pace of China's economic development to avoid repeating Japan's mistakes [18]. - The focus should be on ensuring that financial resources benefit ordinary citizens rather than merely supporting corporate debt or production capacity [18].

Group 1: Economic Paths - The global economic landscape in the 21st century shows a clear contrast between the industrial development paths of the US and China, with the US experiencing significant deindustrialization and a shift towards a virtual economy, while China focuses on strengthening its manufacturing sector [2][3] - China's manufacturing industry has grown from 26.6 trillion yuan in 2020 to a projected 33.6 trillion yuan by 2024, contributing over 30% to global manufacturing growth during the 14th Five-Year Plan period [2] Group 2: Challenges in the US - The US faces severe challenges due to the weakening of its manufacturing base, exemplified by Boeing's reliance on global supply chains and diminished domestic manufacturing capabilities [3] - The consequences of deindustrialization include insufficient domestic manufacturing investment, increasing trade deficits, and heightened social inequality [3] Group 3: China's Strategic Focus - China emphasizes the importance of the real economy, particularly manufacturing, as a foundation for national development, as stated in the 2022 Party Congress report [5] - The manufacturing sector is crucial for innovation, job creation, and meeting consumer demand, with logistics from manufacturing accounting for nearly 90% of total social logistics [5] Group 4: Capital Flows and Policy Responses - A study from 1998 to 2020 indicates a trend of productive capital escaping to the virtual economy in China, prompting policy efforts to redirect capital back to the real economy [7] - The Chinese government has implemented various policies to stimulate effective investment, including promoting equipment upgrades and facilitating trade-in programs for vehicles and appliances [7] Group 5: Digital Transformation - China is advancing its manufacturing sector through digitalization and smart technologies, with over 35,000 basic-level and 7,000 advanced-level smart factories established [8] - The integration of digital and traditional manufacturing is evident, with significant growth in high-tech manufacturing and new energy vehicles [9] Group 6: US Manufacturing Rebound Efforts - The US has attempted to promote manufacturing return through various policies since the 2008 financial crisis, but faces challenges such as aging infrastructure and high labor costs [10] - Approximately 20.6% of US factories are limited in capacity due to labor shortages, with predictions that half of manufacturing jobs may face vacancies by 2033 [10] Group 7: Future Outlook - The differing industrial strategies of the US and China will continue to shape their economic futures, with China needing to maintain a reasonable proportion of manufacturing to avoid premature deindustrialization [12][13] - China's manufacturing sector has shown resilience and potential for upgrading, with a 5.7% increase in manufacturing value added in August 2025, outpacing overall industrial growth [13][14]

资讯编辑：刘佳惠 021-26093916 资讯监督：乐卫扬 021-26093827 资讯投诉：陈跃进 021-26093100 免责声明：Mysteel发布的原创及转载内容，仅供客户参考，不作为决策建议。原创内容版权归Mysteel所有，转载需取得Mysteel书面授 权，且Mysteel保留对任何侵权行为和有悖原创内容原意的引用行为进行追究的权利。转载内容来源于网络，目的在于传递更多信息，方 便学习与交流，并不代表Mysteel赞同其观点及对其真实性、完整性负责。 2026年1月1日出版的第1期《求是》杂志将发表中共中央总书记、国家主席、中央军委主席习近平的重 要文章《学习好贯彻好党的二十届四中全会精神》。文章指出，要认真抓好全会精神贯彻落实。在贯彻 落实全会精神过程中，要着重把握以下几点。第一，坚定不移推动高质量发展。要以新发展理念引领发 展，保持质的有效提升和量的合理增长，推动经济持续健康发展和社会全面进步。坚持把发展经济的着 力点放在实体经济上，进一步全面深化改革，把发展新质生产力摆在更加突出的战略位置。第二，加快 构建新发展格局。要坚持扩大内需这个战略基点，坚持惠民生和促消费、投资于物和投资于人 ...