Core Viewpoint - The shift in focus from "technological innovation" to "building a modern industrial system" in China's 15th Five-Year Plan is aimed at creating a synergistic relationship where innovation leads industry and industry supports innovation, crucial for establishing a global production system centered on China [1][9]. Group 1: Modern Industrial System - The establishment of a modern industrial system is prioritized to address the shortcomings in China's industrial structure and to enhance the synergy between technological innovation and industrial application [8][30]. - The modern industrial system is seen as essential for transforming technological potential into economic growth, emphasizing the need for a complete support system from basic research to industrial application [8][9]. Group 2: Strategic Emerging Industries - The 15th Five-Year Plan emphasizes the development of strategic emerging industries such as new energy, new materials, aerospace, and low-altitude economy, marking the first time since the 12th Five-Year Plan that new energy vehicles are not included [2][10]. - The exclusion of new energy vehicles indicates a transition from a policy-driven growth phase to a market maturity phase, reflecting a shift from scale expansion to quality enhancement in industrial policy [2][10]. Group 3: Involution in Competition - Involution in the new energy vehicle industry has emerged, characterized by low efficiency and stagnant total factor productivity growth, necessitating a policy shift to correct market failures and promote high-end, intelligent, and green transformations [12][15]. - The adjustment in policy aims to guide the industry from price competition to value competition, focusing on core technology breakthroughs and product quality improvements [12][15]. Group 4: Lessons from International Experience - International experiences highlight that dynamic adjustments in industrial policy are common among developed countries, which adapt their support strategies as industries mature [11][12]. - The U.S. and Japan have successfully navigated similar challenges by shifting their focus from broad subsidies to targeted support for advanced technologies, providing a model for China's policy evolution [11][12]. Group 5: Structural Shortcomings and Challenges - China's capital, technology, and talent factors face structural shortcomings that hinder its transition to a developed economy, with a need for improved global competitiveness in these areas [27][30]. - The focus on enhancing the quality of factor inputs and ensuring stable returns on capital is crucial for overcoming the "middle-income trap" and achieving sustainable economic growth [27][30].

Core Viewpoint - The article emphasizes the need to effectively integrate industrial policy and competition policy to build a modern industrial system, moving beyond the binary debate of whether to have industrial policy or not [2][4]. Group 1: Modern Industrial System - The construction of a modern industrial system should focus on advanced manufacturing as its backbone, reflecting a deeper understanding of economic development stages [4]. - The current manufacturing sector in China accounts for approximately 30% of GDP, and there is a need to maintain a reasonable proportion of manufacturing within the economy [4][5]. - The article highlights the issue of "premature de-manufacturing," where the domestic manufacturing share is declining, while China's global manufacturing share is increasing [5]. Group 2: Policy Coordination - The integration of industrial policy and competition policy should be based on the maturity of technology, with different focuses at various stages of industrialization [6]. - For emerging industries with unclear technological paths, competition policy should be emphasized to encourage innovation, while industrial policy can provide directional guidance [6]. - The article suggests that R&D investment should be significantly increased, with a target of 12% during the 14th Five-Year Plan, although achieving this may be challenging [7]. Group 3: Addressing "Involution Competition" - "Involution competition" is identified as a fundamental issue in building a unified market, affecting both micro and macroeconomic levels [9][10]. - The article discusses the need for unified government actions to enhance overall efficiency and facilitate the free flow of resources across regions [9]. - The emergence of platform economies is noted as a new characteristic of "involution competition," where platforms exert significant pricing power over the entire supply chain [10][11].

总之，小班组虽组织规模小，却能在节能降碳中发挥大作用。依托科学理论指导，通过机制创新与文化 培育，激活班组这一"微动力源"，可为煤化工企业绿色转型提供可持续的基层支撑，让"双碳"目标在生 产一线稳步推进。 作者：潞安化工丰喜集团临猗分公司尿素压缩车间 田黎明 下一话题：如何破除"内卷式"竞争 作为生产一线最小组织单元，班组直接对接设备运行与工艺操作关键环节，是节能降碳政策落地的"最 后一公里"。激活班组能量，是煤化工企业构建内生性节能降碳能力的有效路径之一，可通过三大举 措，进一步释放班组节能降碳潜能。 一是推行班组能耗对标管理。各生产班组要建立关键绩效指标体系，涵盖吨产品综合电耗、蒸汽消耗等 核心数据，实现日清日结与可视化公示。这一机制让节能从抽象概念变为具体数字，在班组间形成"比 学赶超"氛围。 二是鼓励班组微创新与金点子。要设立专项奖励机制，激励员工针对"跑冒滴漏"和效率瓶颈问题提出小 改小革方案。可设立"微创新之星""金点子奖"等专项荣誉，配套奖金、晋升加分或实物奖励等，激发岗 位员工围绕设备优化、流程简化、节能降耗等方向小改小革，汇聚成可观的节能效益。 三是培育全员参与的节能文化。要通过持续培训、案 ...

【11月14日央行副行长提及构建可持续金融生态】11月14日，中国人民银行副行长陶玲在第十六届财新 峰会上表示，要构建可持续的金融生态。需重视金融生态对金融业发展的关键影响，强化清晰的产权界 定、公平的竞争规则、有效的契约执行、适度的融资成本、有力的权益保护。还要约束金融行业"内卷 式竞争"，保持合理的盈利空间。 本文由 AI算法生成，仅作参考，不涉投资建议，使用风险自担 ...

11月14日，中国人民银行副行长陶玲在第十六届财新峰会上表示，构建可持续的金融生态。重视金融生 态对金融业发展的关键影响。强化清晰的产权界定、公平的竞争规则、有效的契约执行、适度的融资成 本、有力的权益保护。约束金融行业"内卷式竞争"，保持合理的盈利空间。 编辑｜瑜见 来源｜证券时报 ...

Core Viewpoint - The People's Bank of China emphasizes the importance of building a sustainable financial ecosystem, highlighting its critical impact on the development of the financial industry [1] Group 1 - The need for clear property rights definition is stressed to enhance the financial ecosystem [1] - Fair competition rules are essential for the healthy development of the financial sector [1] - Effective contract enforcement is necessary to ensure trust and reliability in financial transactions [1] Group 2 - The importance of maintaining moderate financing costs to support sustainable growth in the financial industry is highlighted [1] - Strong protection of rights and interests is crucial for fostering a stable financial environment [1] - The need to constrain "involutionary competition" within the financial industry to maintain reasonable profit margins is emphasized [1]

中国⼈民银行副行长陶玲11月14日在第十六届财新峰会上表示，构建可持续的金融生态。重视金融生态对金融业发展的关键影响。强化清晰的产权 界定、公平的竞争规则、有效的契约执行、适度的融资成本、有力的权益保护。 约束金融行业"内卷式竞争"，保持合理的盈利空间。 ...

Core Viewpoint - The investment in artificial intelligence (AI) must align with China's high-quality development goals to ensure its health and sustainability [3][7][11] Group 1: Investment Trends - There is a global surge in AI investment, driven by low birth rates and high aging populations in East Asian countries, necessitating AI to enhance labor productivity [3][8] - Geopolitical tensions have made key technologies like AI a symbol of national strength, leading countries to aggressively pursue AI advancements [3][8] - Major tech companies view AI as a marker of technological leadership and market share, creating competitive pressure to adopt AI [3][8] Group 2: Nature of AI Investment - Disruptive technological breakthroughs often come with investment booms and potential bubbles, which are acknowledged by economists and investors as unavoidable [3][9] - Jeff Bezos categorizes bubbles into "good" (industry bubbles that enhance productivity) and "bad" (financial bubbles that inevitably burst), highlighting the dual nature of AI investment [3][9][10] Group 3: AI's Dual Nature - AI possesses a dual-edged nature, being both creative and destructive, necessitating careful alignment with human values throughout its development and application [4][11] - The alignment problem in AI development emphasizes the need for ethical considerations and safeguards to prevent potential harm [10][11] Group 4: Supply-Side and Demand-Side Considerations - On the supply side, AI should focus on breaking constraints to productivity and addressing the "Solow productivity paradox" by ensuring that AI enhances productivity rather than displacing labor [4][12] - On the demand side, addressing the challenges posed by an aging population and declining birth rates is crucial, with AI playing a role in enhancing consumer capacity and willingness [5][15] Group 5: Institutional Environment - The successful integration of AI into the economy requires a supportive institutional environment, which can be achieved through reforms that balance the creative and destructive aspects of new technologies [17][18] - Reforms in the household registration system could unlock significant labor supply and resource reallocation, enhancing productivity and consumer markets [19]

（文章来源：第一财经） 据中国市场监管报消息，国家市场监督管理总局党组书记、局长罗文接受访谈表示，针对部分领域出现 的"内卷式"竞争问题，市场监管部门将围绕维护良性竞争市场秩序，加强反垄断和反不正当竞争执法， 坚决纠治利用市场优势地位挤压其他经营主体发展空间等行为，优化经营者集中反垄断审查规则，更好 引导和规范投资并购行为；加强对企业过度低价竞争的合规引导和监管规范，深入治理假冒伪劣、虚假 宣传、低价倾销、违法广告等突出问题，推动形成优质优价、良性竞争的良好格局。 ...

人民财讯11月13日电，据中国市场监管报消息，国家市场监督管理总局党组书记、局长罗文接受访谈表 示，针对部分领域出现的"内卷式"竞争问题，市场监管部门将围绕维护良性竞争市场秩序，加强反垄断 和反不正当竞争执法，坚决纠治利用市场优势地位挤压其他经营主体发展空间等行为，优化经营者集中 反垄断审查规则，更好引导和规范投资并购行为；加强对企业过度低价竞争的合规引导和监管规范，深 入治理假冒伪劣、虚假宣传、低价倾销、违法广告等突出问题，推动形成优质优价、良性竞争的良好格 局。 ...