Group 1 - Shandong Delisi Group's meat processing industry intelligent manufacturing public training project has been selected for the 2025 Shandong Province new and old kinetic energy conversion public training project list [1][2] - The Shandong Province new and old kinetic energy conversion public training project aims to promote deep integration of industry and education, optimize the training of skilled talent in manufacturing, and support enterprise transformation and innovation [2] - The establishment of public training bases in Shandong Province is seen as a key strategy for enhancing industry upgrades and improving the adaptability of vocational training to regional economic development [3] Group 2 - Delisi focuses on high-quality development in the food industry, driven by market demand and research innovation, with an emphasis on pig breeding, product research and development, and intelligent manufacturing [3] - The company is actively promoting deep integration of "industry, academia, research, and application" through building a talent matching platform, creating a comprehensive innovation system covering technology breakthroughs, achievement transformation, and talent cultivation [3] - Delisi plans to continue leveraging the Shandong Province new and old kinetic energy conversion public training base to cultivate composite skilled talents that adapt to industry changes while attracting high-level research teams [3]

截至7月31日，广东21地市经济"半年报"已悉数出炉。总量方面，深圳、广州、佛山、东莞、惠州位列 全省前五；增速方面，梅州、汕尾、肇庆占据前三席位，深圳、惠州、湛江、潮州并列第四。 透视这份"半年报"，可以看到上半年全省各地经济运行的几大特征—— 一是经济大市"发挥稳定"，继续在总量上挑起大梁。深圳、广州上半年总量均突破1.5万亿元，佛山、 东莞总量均超6000亿元。这4个地市对全省GDP增长合计贡献率超六成。 二是粤东粤西粤北城市增速表现亮眼。10个增速高于或持平全省水平的地市中，有7个是粤东粤西粤北 城市。梅州以5.7%的增长保持全省增速第一的势头。 三是无论是总量还是增速，地市间的分化仍突出：总量排名第五的惠州与上一位的东莞相差超3000亿 元，"梯度"有待加强；增速"垫底"的汕头增长0.5%，与一季度持平。 4座"万亿城市"GDP占比超六成 上半年，广东大部分地市主要经济指标增速加快。与一季度相比，11个地市GDP增速提高或持平。从多 个维度来看，上半年广东各地"拼经济"举措效果显现，在外部环境不确定性因素凸显的当下逐渐站稳脚 跟。 先看4座"万亿城市"。上半年，深圳以超1.8万亿元的地区生产总值（1 ...

Economic Growth and Policy Direction - China's GDP growth rate reached 5.3% in the first half of the year, leading to a more cautious market outlook regarding the July Politburo meeting[5] - The meeting signifies a shift towards more refined and long-term economic and industrial policies, emphasizing the transition from old to new growth drivers[5] Policy Implications - Traditional policy measures still have room for adjustment, allowing for potential monetary easing if unexpected risks arise in the second half of the year[5] - The meeting highlighted the importance of regulating chaotic competition among enterprises, moving beyond just price wars to encourage quality and service[5] Consumer and Investment Focus - Emphasis on "people's comprehensive development" and "common prosperity" suggests future policies will focus on enhancing consumer experience and service consumption[5] - The introduction of childcare subsidies and support measures indicates a shift towards investing in human capital, which may lead to further fiscal expansion[5] Strategic Outlook - The upcoming five-year plan is expected to enhance market expectations for the transition of growth drivers, especially in light of changing international dynamics[5] - Key areas for growth include self-sufficiency, resource security, and technological innovation, all linked to the new growth driver transition[5] Risks and Challenges - Risks associated with overextending export growth could impact macroeconomic policy space in the coming months[5] - Potential liquidity risks from the U.S. may also pose challenges for the domestic market[5]

尤为重要的是，青岛银行近年来持续保持较高分红水平，形成了稳定的投资者回报机制。今年6月18 日，该行发布公告称，2024年度A股利润分配方案为"每10股派1.60元"，现金分红总额约9.31亿元（含 税），现金分红比例维持在33%以上。这一数据不仅连续四年保持稳定，更显著高于上市城商行28%的 平均分红水平，体现了该行对股东回报的高度重视。 青岛银行（002948）（002948.SZ；03866.HK）于7月31日发布2025年半年度业绩快报。数据显示，该 行上半年实现归属于母公司股东的净利润30.65亿元，同比增长16.05%；营业收入达76.62亿元，同比增 长7.50%；资产总额突破7430亿元，较上年末增长7.69%。截至上半年末，青岛银行在盈利能力、资产 规模和资产质量等方面均实现稳步提升，加权平均净资产收益率（年化）达15.75%，同比提高0.41个百 分点。 值得关注的是，青岛银行的股权结构或将迎来重要变化。6月11日，该行公告显示，青岛国信发展（集 团）有限责任公司计划通过子公司增持股份至不超过19.99%，若获批将跃居第一大股东。此次股权结 构调整可能重塑青岛银行的公司治理格局，地方国资话 ...

7月31日，中国汽车工程研究院（下称"中国汽研"）牵头编写的《中国汽车产业竞争力评价研究 （2025）》，在重庆举办的2025汽车新质生产力发展论坛上正式发布。中国汽研高级专家吴胜男对全球 格局下中国汽车产业的发展机遇与突破路径进行了深度解读。 理论结合实践，构建 "1+1+N" 立体评价框架 美国和中国处于第二梯队但特点迥异：美国强在创新爆发力，特斯拉引领电动化，Waymo主导自动驾 驶，英伟达、高通汽车芯片领先；中国规模与转型速度见长，已建成完整的产业体系，产业规模、本土 新车市场规模均居全球首位；政策体系完备、政策支持力度全球领先；动力电池等自主关键技术实现全 球化应用，AI大模型赋能效应显著，端到端自动驾驶等前瞻技术布局全面。 韩国排名相对靠后，主要受限于本土市场规模较小、产业生态单一等因素。 本次研究首先构建起"1+1+N"的研究框架，第一个"1"聚焦汽车产业综合竞争力，第二个"1"专项智能网 联新能源汽车产业竞争力，"N"则针对产业链关键环节开展细分领域评价。在重点领域选择上，以"强 链补链"为导向，基于产业需求、政策关切及发展基础，首批覆盖了动力电池、电驱系统、氢燃料电池 汽车、智能座舱、基础软 ...

Core Viewpoint - The Jinan government is actively promoting the "Industrial Strong City Development Strategy" with a focus on high-quality industrial economic development in the Jiyang District, leveraging opportunities from cross-strait industrial cooperation and local economic policies [1][2]. Group 1: Industrial Development Initiatives - The Jinan Economic Development Zone has introduced innovative practices to enhance industrial cooperation, resulting in the introduction of 152 projects with Taiwanese investment, including 110 industrial projects, totaling over $2.7 billion in investment [1]. - The development zone has implemented a "project-first" approach, establishing a mechanism for key project management, which has led to the completion of 154 new projects in 2023, with 33 projects already operational [2]. Group 2: Industry Transformation and Upgrading - The Jinan Economic Development Zone is accelerating its industrial transformation by focusing on key sectors such as food and bio-manufacturing, modern pharmaceuticals, and equipment manufacturing, with the food and beverage industry surpassing 10 billion yuan in output [3]. - The region has seen significant growth in industrial output, with 38 companies achieving over 100 million yuan in industrial output, and the establishment of 160 national high-tech enterprises [3].

Core Viewpoint - The article emphasizes the need for China to enhance its macroeconomic policies to address current economic challenges and ensure a stable recovery in the second half of the year [1][2]. Group 1: Macroeconomic Policies - The meeting highlighted the importance of maintaining policy continuity and stability while enhancing flexibility and foresight to stabilize employment, businesses, markets, and expectations [1]. - China will continue to implement a more proactive fiscal policy and moderately loose monetary policy, ensuring that these policies are effectively executed to maximize their impact [1][2]. Group 2: Fiscal Policy - The article calls for the effective use of proactive fiscal policies, including the acceleration of issuing and utilizing ultra-long special government bonds and local government special bonds to improve fund utilization efficiency [2]. - It stresses the need for increased fiscal counter-cyclical adjustments to boost demand and improve market expectations through timely issuance of bonds and efficient approval processes [2]. Group 3: Monetary Policy - Monetary policy should be adjusted appropriately to promote a decline in the overall financing costs for society while maintaining ample liquidity [2]. - The meeting emphasized the use of structural monetary policy tools to support technological innovation, boost consumption, assist small and micro enterprises, and stabilize foreign trade [2]. Group 4: Consumer Demand and Supply Quality - The focus should be on promoting consumption to effectively unleash domestic demand potential, including the continuation of the "old-for-new" consumption subsidy program with a budget of 138 billion yuan [3]. - There is a need to improve supply quality through deepening reforms, fostering new competitive industries, and integrating technological and industrial innovations [3]. Group 5: Capital Market - The capital market's role as an economic barometer is increasing, and enhancing its attractiveness and inclusiveness is crucial for stabilizing economic recovery [4]. - The article suggests that a stable capital market and asset prices are essential foundations for consolidating the economic recovery trend [4].

（责任编辑：张晓波 ） 【免责声明】本文仅代表作者本人观点，与和讯网无关。和讯网站对文中陈述、观点判断保持中立，不对所包含内容 的准确性、可靠性或完整性提供任何明示或暗示的保证。请读者仅作参考，并请自行承担全部责任。邮箱： news_center@staff.hexun.com 没有股票账户的投资者可关注国泰中证科创创业50ETF发起联接A（013306），国泰中证科创创业 50ETF发起联接C（013307）。 注：如提及个股仅供参考，不代表投资建议。指数/基金短期涨跌幅及历史表现仅供分析参考，不 预示未来表现。市场观点随市场环境变化而变动，不构成任何投资建议或承诺。文中提及指数仅供参 考，不构成任何投资建议，也不构成对基金业绩的预测和保证。如需购买相关基金产品，请选择与风险 等级相匹配的产品。基金有风险，投资需谨慎。 每日经济新闻 科创创业ETF（588360）涨超1.3%。国投证券指出，当前市场结构正从"杠铃策略"向"中间资产"过 渡，以创业板指和科创50为代表的科技科创领域迎来周期性拐点。从盈利估值匹配度看，创业板指市盈 率处于近十年23.82%分位数，显著低于其他宽基指数，一季度利润增速达19%，在 ...

Economic Policy and Strategy - The central political bureau meeting emphasized the need to maintain policy continuity and stability while enhancing flexibility and foresight to stabilize employment, enterprises, markets, and expectations [1] - A more proactive fiscal policy will be implemented, including the issuance of ultra-long special government bonds and local government special bonds to improve fund utilization efficiency [2] - Monetary policy should be adjusted appropriately to promote a decline in the comprehensive financing costs for society while maintaining ample liquidity [2] Domestic Demand and Consumption - The focus will be on promoting consumption to effectively release domestic demand potential, with an allocation of 138 billion yuan for the "old for new" consumption subsidy program [3] - Policies will be developed to support service consumption in areas such as elderly care, childcare, culture, and tourism, alongside financial policies to stimulate personal consumption loans [3] Market and Competition - The importance of improving supply quality through deepening reforms and stimulating market vitality is highlighted, particularly in the context of transitioning to new growth drivers [3] - The establishment of a unified national market is essential to optimize market competition and regulate disorderly competition among enterprises [3] Capital Market and Economic Stability - The capital market's role as an economic barometer is increasing, and enhancing its attractiveness and inclusiveness is crucial for stabilizing economic recovery [4] - The combination of short-term goals and long-term tasks, driven by policy tools and deepening reforms, is necessary to ensure the completion of annual economic and social development goals [4]

Core Viewpoint - The article emphasizes the importance of understanding the root causes of "involution" in the context of declining investment returns and risk appetite in the capital market, suggesting that addressing these issues is crucial for effective "anti-involution" measures [2]. Group 1: Investment Returns and Involution - The return on investment for large-scale manufacturing enterprises has been declining, with profit margins decreasing from 5.35% in 2021 to 4.25% in the first five months of 2024 [5][11]. - The revenue generated per 100 yuan of assets for these enterprises has also dropped from 107 yuan in 2022 to 85.2 yuan in the first five months of 2024 [5][11]. - The phenomenon of "involution" is characterized by intensified competition among enterprises, leading to price wars that result in increased volume but reduced profits [11][19]. Group 2: Supply and Demand Dynamics - The persistent "supply exceeds demand" situation is attributed to previous investment expansions, with manufacturing investment growth outpacing overall investment growth from 2021 to 2024 [21][27]. - The average accounts receivable period for large-scale manufacturing enterprises has lengthened from 54 days in 2022 to 71.7 days in the first five months of 2024, indicating increased financial pressure [16][30]. - The capacity utilization rate for these enterprises has decreased from 75.8% in 2022 to 74.2% in the first half of 2024, reflecting a growing surplus in production capacity [19][27]. Group 3: Government Policies and Economic Structure - Local governments are incentivized to boost manufacturing investment to meet GDP targets, often leading to distorted market resource allocation through aggressive investment policies [28][30]. - Recent policies have increased financial support for manufacturing, with long-term loans to the sector growing significantly, providing substantial funding for investment expansions [30][32]. - The article highlights the need for a balanced approach to address both supply-side issues and consumer demand, suggesting that effective "anti-involution" strategies should focus on increasing household income and promoting consumption [72].