10月24日，由海洋石油工程（青岛）有限公司承建的涠洲11—4 CEPD平台陆地工程全部完工。平 台实现多项技术突破，创造了北部湾区域海上油气平台尺寸和重量新纪录。"十四五"期间，青岛加快发 展创新型产业体系，一批引领性项目实现突破，智能家电、轨道交通装备、船舶与海洋工程装备、仪器 仪表4个集群入选国家先进制造业集群。高新技术企业、科技型中小企业分别达到8683家、9776家， 是"十三五"末的1.98倍和1.85倍。 "十四五"以来，青岛着力畅通国内国际双循环，社会消费品零售总额从2020年的5204亿元增至2024 年的6585亿元；进出口规模连续跨上3个千亿元级台阶。青岛市商务局局长王志俊介绍，青岛双向投资 合作成效显著，"十四五"以来实际使用外资累计达184.7亿美元。 通过创新驱动，青岛产业核心竞争力持续增强。青岛市工业和信息化局局长刘大川说，"十四五"期 间，青岛高技术制造业增加值年均增长15.9%，全国先进制造业百强市排名从2020年的第11位跃升至 2024年的第6位。 经济日报青岛12月7日讯（记者刘成）"十四五"以来，山东省青岛市地区生产总值连续跨越5个千亿 元级台阶，交出了一份分量足的发 ...

Core Viewpoint - The article indicates that Brent crude oil prices are expected to fluctuate weakly in December, with a reference range of $58 to $65 per barrel, while industry cost pressures may slightly decrease, and attention should be paid to the optimization of supply and demand patterns [1] Industry Summary - The chemical industry remains at a low level of prosperity, and it is anticipated that future investment themes will focus on addressing "involutionary" competition and fostering the growth of emerging industries [1] - Investment opportunities are recommended in sectors such as PTA, polyester filament, and robotic materials [1]

◎记者 陈芳 距离2025年收官仅剩不到1个月，经济大省继续发挥"顶梁柱"作用，在"稳"的基础上迸发出"进"的动 能。通过聚力发展新兴产业、促消费扩投资、推进营商环境改革等进一步推动高质量发展，聚焦完成全 年目标任务，为"十四五"收官"写答卷"，为"十五五"开局"打基础"。 多措并举发展新兴产业 广东近期开展了"粤享暖冬，乐游广东"消费季活动，活动期间将发放"广东优品购"消费券，广东省财政 还专项新增安排了35亿元，实施六大优惠政策。为了抓住消费旺季的机遇，广东通过活动矩阵、宣传营 销和优惠措施等多种方式激活消费引擎。 江苏的"苏新消费·暖冬购物季"暨双12购物嘉年华于12月5日启幕，未来4个月，超4亿元消费券、1800余 场特色活动将持续开展，江苏省商务厅副厅长吴海云在启动仪式上宣布：江苏汽车焕新补贴最高提至1 万元、第二期"加油江苏"有奖发票活动接续上线等。 "人+人工智能"可以组合成什么？在江苏，OPC（One Person Company）即"单人+AI即公司"的新模式成 为创业热词。据介绍，AI支持下，一个创业者可以完成从产品设计、研发到市场投放等全链条环节， 这样的案例在苏州工业园区独墅湖青年创新 ...

用好资本市场工具，是发展地方经济的重要抓手之一。南开大学金融发展研究院院长田利辉表示，地方 政府的一系列部署折射出各地更加注重引导资本有序投向科技创新、新兴产业领域，发挥资本市场在服 务实体经济中的作用，通过支持企业融资、并购重组等方式，构建资本市场与实体经济协同发展的良性 机制。 人民财讯12月5日电，从加速培育新质生产力，支持科技型企业上市融资，到鼓励上市公司运用并购重 组等工具做优做强，再到强化上市公司治理体系……近期，地方政府支持资本市场发展的举措不断涌 现，绘就了地方版资本市场发展路线图。 ...

◎记者 林超 夏鑫铭 王远 江淮大地，冬日暖阳；色彩斑斓，风景如画。 在面向"十五五"的历史新起点上，安徽底气十足，意气风发。 底气藏在汇聚了山水人文的"徽"字中——黄山、九华山、大别山，山山峻秀；北淮河、南长江、中巢 湖，浪潮奔涌；崇文重教、贾而好儒，学界商界群星璀璨；黄梅戏、桐城派、宣纸歙砚，文蕴延绵。 底气写在社会经济发展的亮眼成绩单上——全球近10%的显示面板，全国约8%的工业机器人、15%的家 电、20%的光伏组件、50%的光伏玻璃，都在这里生产。"十四五"时期，安徽GDP连续跨越4万亿元、5 万亿元两大关口。 从传统农业大省到新兴工业大省，从"左右为难"到"左右逢源"，从"总量追兵"到"科创先锋"，数年之 间，安徽展现出一幅波澜壮阔的发展图景。 何以安徽？ 答案，在推进"三地一区"建设的坚实步履中，在科技创新与产业创新深度融合的有力实践中，在亲商惠 商、协同发展的生动图景中，在徽派文化和徽商精神的传承发展中。 积厚成势 "三地一区"释放发展新动能 进入新发展阶段，襟江带淮的黄金水道，连南接北、承东启西的地理方位，让安徽迎来了新的历史机 遇：安徽是全国唯一被长三角一体化发展、长江经济带发展、中部地区 ...

Investment Rating - The report does not explicitly provide an investment rating for the industry Core Insights - The Chinese economy is facing dual challenges of debt tightening and declining real estate prices, leading to reduced consumption and investment, which puts pressure on economic growth [1][3] - The geopolitical economic competition between China and the US shows that China leads in manufacturing while the US excels in monetary finance [1][5] - AI technology advancements are driving the chip industry, but the efficiency of performance improvements is decreasing according to Moore's Law, raising concerns about potential AI bubble risks [1][6] - The US and Europe are implementing policies to reduce reliance on Chinese manufacturing, which has already led to a significant decrease in China's exports to the US [1][7] - China's exports are showing strong growth, particularly to Africa, ASEAN, and Europe, as companies increasingly rely on export markets due to weak domestic demand [1][8] Summary by Sections Economic Challenges - The main challenges facing the Chinese economy include debt tightening and declining real estate prices, which have led to reduced consumption and investment, creating downward pressure on economic growth [3][4] - The increase in debt repayments by businesses and households has led to higher savings, but weak demand has resulted in decreased loan demand [3][4] Geopolitical Competition - China and the US have distinct competitive advantages, with China excelling in manufacturing and the US in monetary finance [5] - Both countries are advancing in the digital economy and AI, but the US is attempting to restrict China's AI technology development through semiconductor export limitations [5] AI and Chip Industry - AI advancements are significantly impacting the chip industry, allowing for performance improvements through algorithm optimization, but the diminishing returns on investment in chip performance need to be monitored [6] Trade Dynamics - The US and Europe are taking measures to reduce dependence on Chinese manufacturing, with new tariffs leading to a notable decline in Chinese exports to the US [7] - China's export growth is robust, driven by weak domestic demand and a shift in trade partners towards countries along the Belt and Road Initiative [8][9] Domestic Demand Issues - The imbalance between production and consumption in China is contributing to insufficient domestic demand, necessitating coordinated development of internal and external cycles to enhance consumption [10][11] - Improving income distribution and strengthening the social security system are essential for boosting total demand and sustainable economic growth [10][14]

Group 1 - The "Million Talents Gather in South Guangdong" initiative will launch a province-wide recruitment event on December 8, 2023, targeting college graduates across the nation [1] - The event will feature over 20,000 quality job positions and approximately 100,000 regular positions, focusing on strategic industry clusters and future industry demands in Guangdong [1][2] - The recruitment will adopt a "1+20" model, with simultaneous efforts from the provincial level and 20 cities, allowing graduates to participate locally without the need to travel [1] Group 2 - The recruitment event will emphasize key development areas, including strategic industry clusters, emerging industries, and livelihood sectors, offering high-quality positions with annual salaries exceeding 200,000 yuan [2] - The initiative will utilize both online and offline platforms, including the "Yue Employment" mini-program and the Guangdong public job recruitment service platform, enabling remote job searching and application [2] - The event aims to create an efficient bridge for graduates, catering to various job-seeking needs, from technical research talents to aspiring entrepreneurs [2]

Group 1 - The A-share market experienced adjustments in the afternoon, with sectors such as coal, wind power equipment, and airport shipping showing strength, while cloud computing, software development, and communication equipment faced declines. As of 14:05, the CSI A500 index fell by 0.5%, and the ChiNext index dropped by 1.0%. The ChiNext ETF (159915) saw a net subscription of 12 million units during the session [1] - In the first 11 months of 2025, the cumulative number of new A-share accounts reached 24.84 million, marking an 8% year-on-year increase. In November alone, 2.38 million new accounts were opened, reflecting a 3% month-on-month growth compared to October's 2.31 million [1] - Looking ahead to next year, Invesco's Asia-Pacific Global Market Strategist indicated that both China and other Asian markets are expected to perform strongly in 2025, with multiple asset classes likely to continue this momentum into 2026. The supportive policy environment and ongoing fundamental improvements provide diverse opportunities for investors in the Asian markets [1] Group 2 - The CSI A500 index covers 91 out of 93 industries in the CSI third-level industry classification, reflecting the overall performance of representative companies across A-shares from an industry balance perspective. Emerging industries such as information technology, communication services, and healthcare have a higher weight, aligning with the current economic structural transformation [1] - The ChiNext index consists of 100 stocks from the ChiNext board that have large market capitalization and good liquidity, focusing on innovative and entrepreneurial companies, with strategic emerging industries accounting for over 90% of the index [1] - The management fee rates for A500 ETF (E Fund, 159361) and ChiNext ETF (159915) are only 0.15% per year, which can help investors seize the rapid development opportunities of leading A-share companies [2]

Group 1 - Gansu Province's new materials industry is rapidly emerging, with significant investments and production achievements in various sectors [1][2] - The provincial government has completed investments totaling 66 billion yuan, focusing on new materials, new energy, and equipment manufacturing, among other industries [1] - Strategic emerging industries in Gansu have surpassed an annual output value of 100 billion yuan [1] Group 2 - Over the past five years, Gansu has invested more than 70 billion yuan in traditional industries, implementing over 460 projects for high-end, intelligent, and green transformation [2] - The province has completed the large-scale update of 16,000 sets of equipment and established 18 national-level green factories and 7 provincial-level intelligent factories [2] - Gansu's focus on future energy and materials includes the development of hydrogen energy and new energy storage, with the establishment of a green hydrogen integrated demonstration base [2]

规划同时将"科技自立自强水平大幅提高"列为核心目标之一，明确提出培育壮大新兴产业与未来产业，打造新兴支柱产业，加 快新能源、新材料、航空航天、低空经济等战略性新兴产业集群化发展。 从中长期投资视角出发，我们将重点关注半导体自主可控、军工贸易、航空航天等领域的优质企业，将持续深耕产业链研究， 精准挖掘具备核心竞争力的投资标的，力争为基金持有人创造长期稳定的价值回报 农银 汇理投资部副总经理、 基金经理 谷超 近期国际经贸合作呈现积极信号：中美谈判取得阶段性成果，关税之外的相关反制措施基本恢复至 9 月初水平， 9 月后新增反 制举措均已暂停；关税领域，美国将对"芬太尼关税"下调 10% ，我国同步取消对应关税反制措施。更值得关注的是，全球头部 铁矿石企业必和必拓经协商同意，自今年四季度起将部分对华铁矿石贸易采用人民币结算计价，这不仅标志着我国在铁矿石领 域的定价话语权显著提升，更印证了人民币国际化进程的加速推进，人民币资产在全球市场的吸引力将持续增强。 "十五五规划"中提出了十五五时期经济社会发展的主要目标，其中首要提出"高质量发展取得显著成效。经济增长保持在合理区 间，全要素生产率稳步提升，居民消费率明显提高 ...