Group 1 - Changsha has been recognized as a model city for high-quality development in terms of business environment and digital empowerment at the 2025 High-Quality Development and International Cooperation Conference [1] - The city has established seven trillion-level industrial clusters and over 3,400 innovation platforms, achieving significant technological breakthroughs and ranking 23rd globally among research cities [1] - Digital transformation has enhanced urban development, with systems improving land allocation efficiency by over 30% and providing rapid responses for urban safety [1] Group 2 - Changsha leads the central region in the number of A-share listed companies and is the second city globally with more than five of the world's top 50 engineering machinery companies [2] - The city has over 2 million business entities, with the private economy accounting for 65%, and has been recognized for its favorable business environment for five consecutive years [2] - Changsha's ecological environment is well-preserved, with a high forest coverage rate, and it offers a favorable housing income ratio, supporting the living dreams of young people [2] Group 3 - Changsha County and Liuyang City have been selected as model counties for high-quality development in business environment, while Changsha Economic and Technological Development Zone has been recognized for its investment value [3] - The recognition highlights Changsha's efforts in optimizing the business environment and promoting high-quality development across the region [3]

12月26日，省委副书记、省长王予波率队与各民主党派省委、省工商联和无党派人士座谈，就省政府工作、省"十五五"规划纲要草案及《政府工作报告 （征求意见稿）》听取意见建议。 王予波介绍情况。省委常委、统战部部长李保俊主持会议，民革省委主委于干千、民盟省委主委徐彬、民建省委主委苏莉、民进省委主委李玛琳、农工党 省委主委张宽寿、致公党省委副主委丁仁展、九三学社省委主委李学林、台盟省委专职副主委李志强、省工商联副主席牟洪操、无党派人士代表谷雨先后 发言，高度评价"十四五"我省经济社会发展成效和省政府工作，对修改完善纲要草案和报告，促进科技创新、发展开放教育与老年教育、用好银龄人才、 湖泊保护治理、国际交通能源通道建设、医疗医保改革、壮大民营经济、防范化解风险、承接产业转移以及有色金属、生物医药、林下经济、水体经济、 低空经济等产业发展提出意见建议。 王予波率队听取意见。 王予波专心听取发言。他说，大家的意见建议务实具体，我们将认真研究吸纳。今年以来，各民主党派省委、省工商联和广大无党派人士全面贯彻习近平 总书记关于做好新时代党的统一战线工作的重要思想，发挥人才荟萃、智力密集、联系广泛优势，深入调查研究，积极建言献策， ...

新华社北京12月27日电 题：以实干担当践行为民初心 新华社记者周以航、杨柳 在"卡脖子"关键领域突破技术封锁，打破壁垒促进全国统一大市场建设、加快农业现代化推进乡 村全面振兴……推动高质量发展、创造高品质生活的每一项工作，都离不开真抓实干。做好明年 经济工作，既不能急躁冒进，也不能懈怠"躺平"，必须以务实作风尊重实际、脚踏实地，以干为 先、以干破局、以干制胜，将党中央各项决策部署落到实处、取得实效。 共产党人干事创业，为的是造福人民。越是在压力叠加阶段，越要把民生工作牢牢抓在手上，在 发展中保障和改善民生。必须谋利民之策、兴惠民之举，通过一项项实打实的政策举措，补齐教 育、医疗、养老等领域的短板弱项，精准回应百姓急难愁盼，让人民群众的获得感、幸福感、安 全感在物阜民丰、国泰民安中不断增强。 使命催人奋进，实干成就未来。密集召开年度工作会议，列出2026年重点任务清单；抓紧谋划"十 五五"发展规划，细化重大政策、重大改革、重大项目……年终岁尾之际，许多部门和地方已经在 提前部署、靠前发力。应对外部环境的不确定性，集中精力办好自己的事，提高自身实力和发展 质量，就是最大的确定性。各级领导干部敢担当、善作为，广大 ...

Investment Rating - The report does not explicitly state an investment rating for the real estate industry. Core Insights - The report outlines a significant shift in China's real estate policy from emphasizing "housing is for living, not for speculation" to focusing on stabilizing the market and preventing declines during the "14th Five-Year Plan" period [7][22]. - The real estate market reached a peak in 2021, followed by a deep adjustment phase, with a notable decline in new housing sales and a shift in market dynamics towards improvement-driven demand [8][20]. - The "15th Five-Year Plan" anticipates a gradual stabilization of supply and demand in the real estate market over the next five years, with an expected average annual sales area of new residential properties between 700 million to 800 million square meters [15][16]. Summary by Sections 1. Summary of the "14th Five-Year Plan" Real Estate Market Situation - **Policy Environment**: The transition from a focus on preventing overheating to stabilizing the market was marked by various supportive measures, especially in response to the COVID-19 pandemic [7][22]. - **Market Characteristics**: The total sales area of new residential properties during the "14th Five-Year Plan" was approximately 5.8 billion square meters, a 25% decrease compared to the "13th Five-Year Plan" [8]. - **Corporate Landscape**: The number of large real estate companies has decreased, with only 11 companies remaining in the billion-yuan sales category by 2024, indicating increased market concentration among state-owned enterprises [9]. 2. Outlook for the "15th Five-Year Plan" Real Estate Market - **Development Environment**: Economic growth is anchored to achieving a per capita GDP level of a moderately developed country by 2035, with a focus on expanding domestic demand [10][11]. - **Market Forecast**: The report predicts that the total housing demand during the "15th Five-Year Plan" will be approximately 4.98 billion square meters, with a significant portion driven by urban population growth and improvement needs [15][16]. - **Development Trends**: The report highlights a normalization of urban differentiation, with a focus on high-quality housing in core cities, and emphasizes the importance of urban renewal and corporate transformation to adapt to new market conditions [17][18].

[Table_Summary] 2026 年债市预计宽幅震荡、交易属性提升，我们认为财政发债拉久期和"货币赤字化"不及预 期或成为主要原因。预计明年 10 年期国债含税收益率在 1.6%-1.9%区间震荡、中枢 1.7%，延 续"低利率+高波动+下有底、上有顶"。后续若想要超长债利差修复，我们提出了主要的三种 路径。节奏上，Q1 前段预计收益率易下难上，Q2-Q3 债市或逆风，Q4 重新找方向。由于债市 的抢跑和透支，今年前三季度经济基本面对于债市中性偏空，明年或保持相似影响节奏，债市 对基本面的定价或也延续非对称性。 research.95579.com 1 丨证券研究报告丨 报告要点 固定收益丨深度报告 [Table_Title] 迎接债市新时代——债市 2026 年度投资策略 %% %% %% %% 分析师及联系人 [Table_Author] 赵增辉 赖逸儒 熊锋 SAC：S0490524080003 SAC：S0490524120005 SAC：S0490524120004 SFC：BVN394 SFC：BVZ968 SFC：BWI629 马月 马玮健 SAC：S0490525080001 请阅读最 ...

本文是曹德旺在第九届中国企业家发展年会上的演讲 作为民营企业家，应该紧跟国家的政策，现在中央提出转型升级高质量发展，首先看现状，他们都不敢 讲现状。我可以告诉大家，我一直非常关注整个经济发展趋势。我是退休了，但我始终认为中国是中国 人的中国，发展中国保卫中国建设中国，是每个人中国人的责任。特别是我们在座的这些人，国家是全 方面，有政府他们在管理国家。管理的团队里面有科学家，有工人，有农民，有我们企业家。实际上企 业家团队是这些各个级别当中，在经济上最明显最优秀的团队，因此这些人必须为国家经济发展承担责 任。这是责无旁贷的。你不管谁管，美国人来管吗？不可能。 这次许家印事件发生的时候可以看到两万亿元相当于2020年GDP的2%，我相信如果按真实GDP来算的 话应该会占到3%，还有李家张家刘家，乱七八糟一大堆东西。网上说我们15万亿的负债，这是债务的 问题。制造业碰到人工成本上涨，材料涨价，服务业碰到重创，这都是现实，我们必须看到这些问题， 很认真的去研究它。怎么解决？中国有一句话叫"观今宜鉴古"。什么意思？处理今天的事情要去回顾过 去的历史。为什么？因为去探索它形成这个果的因，你查不到因就解决不了它的办法。 今 ...

12月26日，以"新开局、新动能、新征程"为主题的"启航·2025金融峰会"在北京圆满举办，大会由金融界主办，汇聚监管部门、行业协会、金融机构、上市 公司、媒体等领域数百位相关领导和重磅嘉宾。会上，第十四届金融界"金智奖"年度评选结果重磅揭晓，桂冠电力荣获"上市公司韧性发展"奖项。 秉持绿色发展理念，桂冠电力积极践行能源安全新战略，全力推进清洁能源布局，持续攻坚重大能源项目建设，不断优化电源结构，巩固区域清洁能源供应 主体的领先地位。同时，公司以改革创新为动力，深入推进改革深化提升行动，重塑组织形态与激励机制，提升治理效能，还聚焦科技创新十大方向，实现 多项科研项目申报突破，以创新驱动增强核心竞争力。 未来，桂冠电力将继续秉持高质量发展理念，深耕清洁能源领域，持续深化改革创新，强化责任担当，在保障能源安全、推进绿色低碳转型的道路上稳步前 行，为资本市场与实体经济协同发展贡献更多力量。 财经频道更多独家策划、专家专栏，免费查阅>> 责任编辑：山上 "金智奖"旨在树立高质量发展标杆，引导上市公司聚焦主业、持续创新、践行社会责任，推动资本向优质企业集聚。本届评选中，金融界上市公司研究院紧 密契合"十五五"规划建议中 ...

Economic Performance - The GDP of Tianjiaan District reached 32.7 billion, with a year-on-year growth of 5.1%, surpassing the city's average growth rate, indicating strong development resilience [4] - The industrial added value above designated size grew by 21%, ranking first in the city and exceeding the city average by 23.9 percentage points, serving as a core engine for economic growth [4] - The total output value of the registered construction industry reached 2.25 billion, with a growth of 20.7%, ranking second in the city and above the city average by 8 percentage points, injecting stable momentum into economic growth [4] Project Development - The district emphasizes major project construction, successfully signing 29 key projects with a total investment of 2.727 billion, including the Zhongding Huainan Beef Soup Group production base and Xingyi Automotive Interior Production Base [5] - A total of 49 key projects have commenced construction, covering 2025 old community renovations and the Anjian Industrial Park, with a total investment of 9.447 billion, accelerating the transformation of project construction into new economic momentum [5] Regional Coordination - Tianjiaan District is leveraging its geographical advantages to outline a new development pattern characterized by "central urban area leadership, Huaihe River shoreline empowerment, and park carrier support" [6] - The central urban area is enhancing its core functions, with commercial, technological innovation, and service elements accelerating aggregation, while urban renewal is progressing in an orderly manner [6] - The district is actively cultivating future industries such as low-carbon economy and low-altitude economy, further enhancing the carrying capacity and development level of its parks [6] Public Services - The district is committed to a people-centered development approach, increasing investment in public services and continuously improving service quality [7] - The 2025 rural water supply enhancement project is being implemented rapidly, with several parking lots completed and operational, and urban functions becoming increasingly refined [7] - Educational resources are being optimized with the expansion of Longhu Middle School and Dongshan Middle School, adding 3,300 new quality school places [7]

Core Viewpoint - Despite multiple pressures, China's foreign trade has shown resilient growth this year, exceeding market expectations, with a total import and export value of 41.21 trillion yuan, a year-on-year increase of 3.6% in the first 11 months [1] Group 1: Trade Performance - The total import and export value for the first 11 months reached 41.21 trillion yuan, reflecting a year-on-year growth of 3.6% [1] - In November alone, the year-on-year growth rate of imports and exports rebounded to 4.1%, marking the 10th consecutive month of growth [1] - The sustained growth, particularly in the second half of the year, indicates an increasing ability of China's foreign trade to resist risks and self-repair [1] Group 2: Structural Changes - The share of general trade, which has higher added value, reached 63.2% of the total foreign trade value in the first 11 months, indicating a strengthening of internal driving forces [2] - Mechanical and electrical products accounted for over 60% of export value, with significant growth in key categories such as integrated circuits and automobiles [2] - China is transitioning from "Made in China" to "Intelligent Manufacturing in China," particularly in high-growth sectors like electric vehicles and solar products, showcasing enhanced export competitiveness [2] Group 3: Market Diversification - Trade with countries involved in the Belt and Road Initiative exceeded 21 trillion yuan, accounting for over half of the total foreign trade value, becoming a key driver of export growth [3] - ASEAN remains China's largest trading partner, with bilateral trade reaching 6.82 trillion yuan, a growth of 8.5% [3] - The China-Europe Railway Express and other international logistics channels have seen increased efficiency, with a 9.0% year-on-year increase in the number of trains operated in the first 11 months [3] Group 4: Policy Support and Future Outlook - Continuous optimization of the business environment and targeted policy support have been crucial for maintaining foreign trade growth [4] - Policies supporting cross-border e-commerce and tax reductions have effectively alleviated difficulties for enterprises and stimulated market vitality [4] - Looking ahead, the fundamental positive outlook for China's foreign trade remains unchanged, with new opportunities expected from high-level opening-up strategies and ongoing support for green trade [4]

【学习贯彻省委十四届九次全会精神】 确保"十五五"开好局起好步 ——论学习贯彻省委十四届九次全会精神 甘肃日报评论员 "十五五"时期是我国基本实现社会主义现代化夯实基础、全面发力的关键时期，也是甘肃发展追赶进位 的关键阶段。省委经济工作会议深入分析当前形势，对做好明年经济工作提出明确要求。全省上下要牢 牢把握高质量发展这个首要任务，着眼扩大内需、优化供给、做优增量、盘活存量，着眼防范化解重点 领域风险，着眼稳就业、稳企业、稳市场、稳预期，深入实施"五强"行动，加快推进新型工业化、新型 城镇化、农业农村现代化，加速推进数字经济和实体经济深度融合，加力打造"七地一屏一通道"，因地 制宜发展新质生产力，推动经济实现质的有效提升和量的合理增长，更好统筹发展和安全，保持社会和 谐稳定，实现"十五五"良好开局。 经济工作千头万绪，必须抓住关键，明确主攻方向，做到纲举目张。要加力培育壮大产业，以科技创新 引领产业创新，扎实推进传统产业转型升级、新兴产业发展壮大、未来产业前瞻布局，大力发展现代寒 旱特色农业，加快推动服务业扩能提质。要加力强化内需拉动，抢抓政策机遇扩大投资，深入挖掘服务 消费、数字消费、文旅消费等潜力，开展平 ...