Group 1 - The core viewpoint emphasizes the importance of technological and industrial innovation in enhancing productivity and economic growth in Beijing, with a focus on building a modern industrial system aligned with new productivity standards [1][2] - Beijing's high-tech industries contribute over 40% to economic growth, with plans to establish three trillion-yuan industrial clusters and seven hundred-billion-yuan clusters during the 14th Five-Year Plan [1] - The city aims to accelerate the construction of an international technology innovation center and deepen the integration of technological and industrial innovation during the 15th Five-Year Plan [1] Group 2 - Beijing hosts four out of 21 national-level manufacturing pilot platforms, which are crucial for the transition of new products from trial to production [2] - The city plans to strengthen its pilot platform capabilities by 2027, focusing on enhancing public service functions and establishing clear development paths [2] - Companies like Beijing Yuli Technology Co., Ltd. are providing comprehensive services from research and design to mass production through their pilot platforms [2] Group 3 - Over 1,000 national-level specialized and innovative "little giant" enterprises exist in Beijing, with a strong demand for technology and innovation [3] - The city utilizes a joint funding model involving enterprises and research institutions to drive technological solutions [3] - A "pay after use" model is being explored to support the high-quality development of small and micro enterprises, allowing them to access over 440 technology achievements from universities [3] Group 4 - Beijing is fostering a competitive open innovation ecosystem with vibrant science parks and industrial bases [4] - The city encourages cross-field collaboration and the formation of innovation alliances to target future industrial directions [4] - The Changping Laboratory is making significant progress in life sciences, with research on Parkinson's disease expected to be published in top journals and applied in clinical trials [5]

Core Viewpoint - The investment outlook for 2026 remains optimistic, with technology continuing to be a dominant theme, alongside structural opportunities in renewable energy and non-renewable resources following a valuation recovery in 2025 [1][6]. Investment Insights - Institutions express strong confidence in equity assets for 2026, with a focus on three key trends: AI technology development, accelerated domestic production, and the recovery of industry cycles [2][7]. - The AI-related industry chain is expected to present incremental opportunities due to technological breakthroughs [2][7]. - The semiconductor industry is projected to continue its self-sufficiency push, with attention on equipment, materials, wafer foundry, and IC design sectors [2][7]. - The traditional semiconductor cycle is recovering, with storage as a key indicator, suggesting a healthier supply-demand structure across the industry [2][7]. Sector Focus - Jiashi Fund identifies five key sectors for investment in 2026: manufacturing (with a focus on smart manufacturing), information technology (including next-gen mobile communications and quantum information), materials (covering advanced materials and new material innovations), energy (focusing on nuclear, hydrogen, and biomass), and space industries [3][8]. - Wanji Fund emphasizes strategic resource products in the first half of 2026, particularly those benefiting from overseas fiscal expansion and monetary easing, such as gold, silver, copper, rare earths, and minor metals [3][8]. - Traditional sectors like service consumption, building materials, chemicals, and coal are expected to see improvements due to policy support and economic recovery [3][8]. Aggressive Sector Outlook - Zhongjia Fund maintains a focus on technology, particularly AI, as a key area for both short-term performance and long-term narratives [4][9]. - The lithium battery sector is viewed as at the bottom of its cycle, with potential for a reversal in 2026, particularly in the electrolyte segment [4][9]. - The commercial aviation sector may experience short-term overheating but is expected to have long-term sustainability due to clear timelines and national support [4][9].

县计县策 武陟县的高质量发展，既体现在工业与配套的硬实力上，又彰显于文旅融合、园区提质、营商环境优化 的软实力提升中。 武陟县坚持突出工业强县、创新驱动不动摇，以项目为支撑，深入推进"325"产业计划，大力实施主导 产业转型升级、主攻方向提升、科技创新和产业创新深度融合、文旅融合发展、产业园区能级提升"五 大行动"，加快构建具有武陟特色的现代化产业体系，为县域经济持续高质量发展注入不竭动力。 1月2日，在位于武陟经开区的河南大指造纸装备集成工程有限公司车间内，一台宽达8600毫米的高速造 纸机正进行精度调试，不久后将发往东南亚市场。 "我们聚力攻克宽幅高速造纸装备关键技术，推动成套装备国产化。"公司研发中心主任盛海鹏的话语， 正是武陟县以科技创新夯实实体经济、推动产业升级的生动缩影。 作为郑州都市圈特别合作区，武陟县坚持工业强县，聚焦焦作市"3+13+N"产业链群建设，深耕"325"产 业计划，打造都市圈重要产业配套区和生活服务区。 动能转换是产业升级的核心。该县以设备更新和技术升级为抓手，推动工业转型项目落地见效，实现规 上制造企业智能应用场景全覆盖。 项目建设夯实发展硬支撑。大指装备年产66台（套）造纸设 ...

Core Insights - Qingdao has significantly increased its investment in technology and innovation, ranking 34th in the 2025 Global Innovation Index, a rise of 35 places since 2020, supported by continuous fiscal funding [1] - The city plans to maintain a growth rate of over 15% in fiscal technology funding for 2024 and 2025, emphasizing the importance of financial support in driving high-quality development [1] Group 1: Fiscal Investment and Mechanisms - Qingdao has established a stable growth mechanism for fiscal technology funding, with a cumulative budget of 10.2 billion yuan allocated to the Shandong Energy Research Institute, which focuses on innovative research in new energy, biotechnology, and new materials [2] - The total fiscal technology expenditure from 2023 to 2025 is projected to reach 10.812 billion yuan, with 3.702 billion yuan earmarked for 2025, reinforcing the financial foundation for technological innovation [2] Group 2: Innovative Budgeting and Financial Tools - The city employs a zero-based budgeting approach to optimize the allocation of fiscal funds, focusing on strategic and critical areas while eliminating unnecessary expenditures [3] - Qingdao has introduced various financial products, such as "Qingke Loan" and "Qingke Insurance," to leverage additional resources for technology innovation, with a fiscal equity investment model reaching 1.223 billion yuan [3][5] Group 3: Targeted Support for Enterprises - Over the past three years, Qingdao has allocated 3.821 billion yuan in fiscal technology special funds, supporting 21,700 enterprises, which constitutes 83.4% of the total special funds [5] - The city has dedicated 1 billion yuan annually to support the development of the artificial intelligence industry, focusing on key technology breakthroughs and high-level innovation platform construction [6] Group 4: Future Directions and Goals - By 2025, Qingdao plans to allocate over 3.45 billion yuan to support the "10+1" innovative industrial system and the "4+4+2" modern marine industrial system, aiming to produce more original and disruptive results [6] - The city aims to enhance the effectiveness of fiscal funding for technology innovation by optimizing the structure of fiscal technology investments [6]

Core Insights - Henan Yuguang Zinc Industry Co., Ltd. is set to achieve a revenue of 103.8 billion yuan by December 31, 2025, becoming the first company in Henan province to reach the trillion-yuan mark in the non-ferrous metal new materials sector, which will enhance the province's industrial capabilities [1] - The company has established itself as the largest recycled lead production base in China, with an annual capacity to process over 1 million tons of waste lead-acid batteries, contributing to a stable development foundation through circular economy practices [1][2] - The local government is actively supporting the non-ferrous metal industry, aiming for an industrial output value of nearly 200 billion yuan, with a projected year-on-year growth of approximately 22% by 2025 [2] Group 1 - The intelligent zinc alloy production workshop at Yuguang can produce one zinc alloy every six seconds, showcasing advanced manufacturing capabilities [1] - The company has invested over 5 billion yuan in environmental governance, achieving nearly 100% recycling rates for wastewater and waste residue, and has been recognized as a national-level green factory [2] - Yuguang has led six technological innovations in the industry and established the first "excellent-level intelligent factory," with high-purity metals reaching the highest industry standards [2] Group 2 - The local government is enhancing the industrial environment by providing resource guarantees and specialized services to promote the transformation and upgrading of the non-ferrous metal industry [3] - The strategic focus is on building a modern industrial system and strengthening the foundation of the real economy, aiming to make the non-ferrous metal industry a pillar with international competitiveness [3]

Group 1 - China will become the first economy to pay interest on central bank digital currency, with the new digital RMB framework set to be implemented on January 1, 2026, transitioning from "digital cash" to "digital deposit currency" [2] - The interest rates for existing "public housing fund + commercial loans" will be lowered starting January 1, 2026, with first home rates dropping to 2.1% for loans under 5 years and 2.6% for loans over 5 years [2] - The 2026 national subsidy plan has been officially released, with 62.5 billion yuan allocated for consumer goods replacement and new categories like smart glasses and smart home products added [3] Group 2 - Several automotive companies reported their sales figures for December 2025, with BYD's sales declining by approximately 18.2% year-on-year, while its total annual sales increased by 7.73% [4] - Public fund institutions have released their investment strategies for 2026, with technology being a widely favored sector, indicating a shift towards dual drivers of "profit and valuation" [5] - A significant policy change in the real estate market will reduce the VAT rate on the sale of homes held for less than two years from 5% to 3%, effective January 1, 2026, which is expected to boost second-hand home transaction activity [6] Group 3 - Silver has emerged as a standout asset in 2025, with a cumulative increase of approximately 147% for the year, significantly outperforming gold [7] - The Trump Media & Technology Group announced plans to issue a new cryptocurrency to its investors, collaborating with Crypto.com for its launch [7] - Tesla has significantly reduced the prices of its models in South Korea, with reductions of up to 9.4 million won for the Model 3 [7]

本报讯（记者杨阳腾）中央经济工作会议提出，建设粤港澳大湾区国际科技创新中心。粤港澳科技创新 资源高度集聚，目前大湾区已建成2家国家实验室、45家全国重点实验室及33家粤港澳联合实验室，形 成多层次、高水平的科研平台体系。2025年"深圳—香港—广州创新集群"首次登顶"世界百强创新集 群"榜首。 近日，以"全重汇湾区·产创深融合"为主题的2025粤港澳院士峰会·全国重点实验室技术成果大湾区对接 大会在深圳举办，近百位知名科学家及116家全国重点实验室的138位负责人或代表参与相关产业科技创 新交流对接会、前沿技术与产业发展研讨会，236家企业负责人或首席科学家参加对接大会。"大会 以'全重汇湾区·产创深融合'为主题，汇聚了顶尖的科研力量和活跃的经营主体，恰逢其时，意义重 大。"广东省委常委、统战部部长王曦表示，这是深入贯彻中央关于实现高水平科技自立自强、促进科 技创新和产业创新融合发展决策部署的务实行动，是落实广东省委工作安排、助力广东跑好"十五五"关 键一程的有力举措，是纵深推进粤港澳大湾区建设、奋力推进广东在中国式现代化建设中走在前列的重 要支撑。 香港特别行政区行政长官李家超通过视频致辞时介绍："香港是全 ...

（来源：新华日报） □ 本报记者 徐瑞雅 周成瑜 李仲勋 张家港市政府与华中科技大学，近日签约共建华中科大苏州科创院，重点围绕电气工程、光电信息、人 工智能等方向，开展应用技术研究和科技成果转化，培养和集聚高端人才。张家港设置总规模50亿元的 融创基金，支持科创院建设运行。 大手笔投入的背后，是张家港对创新的极度渴求。科创院的落地，不仅填补了张家港缺少高能级创新平 台的短板，还为其打造更优创新生态注入源头活水。 坚持不懈制度创新 张家港人的血脉中，始终流淌着创新的基因。早在2015年，张家港在全国首创"企业创新积分制"，对企 业创新行为进行量化打分。企业凭积分，可兑现财政奖补、人才落户、信贷支持等扶持。10年来，这项 政策惠及近8000家企业，涉及9亿元资金，2024年获科技部发文在全国推广试行。 "十四五"期间，张家港在全国县（市）率先成立市委创新委员会，从顶层设计入手，攻克创新工作难点 堵点；首创"县域创新格次赋分机制"，将评价主体从单一企业扩容至六大类，变"一隅创新"为"全域创 新"。张家港还在骨干企业中推行"2+1"院士对接模式，2家企业结对1个院士团队，现已与129名院士建 立合作关系。 坚持不懈以 ...

香港特别行政区行政长官李家超通过视频致辞时介绍："香港是全球唯一拥有5所百强大学的城市，汇聚 海内外科研人才，与大湾区内地城市优势互补。特区政府已在2022年公布《香港创科发展蓝图》，为特 区订立5年到10年的发展目标，各项政策措施正全速推进。在国家的支持下，15所香港的实验室获批全 国重点实验室，已经在2025年7月开始运作。"李家超表示，在香港的全国重点实验室会紧密对接国家重 大战略需求，同时发挥好香港在"一国两制"下内联外通的优势，积极拓展全球科研合作，为国家高水平 科技自立自强和建设香港国际创科中心作出贡献，并期待广东院士联合会与参加大会的代表们继续与香 港携手合作，为国家的高质量发展和强国建设贡献更大力量。 "过去一年，澳门在湾区科创合作中稳步前行，以澳琴一体化为依托，推动科研项目在横琴落地转 化，'企业创新研发资助计划'初见成效。"澳门特别行政区行政长官岑浩辉在视频致辞中表示，面向未 来，澳门将继续着力促进适度多元发展，以科技创新平台为支撑，推进设立政府产业基金及引导基金， 加快培育高新技术产业，全力推进粤港澳大湾区"全国高校区域技术转移转化中心"建设，打造"一站 式"全链条转化平台。 中国工程院 ...

Core Viewpoint - The government is implementing a series of targeted support policies to assist technology-oriented small and micro private enterprises, addressing challenges such as high R&D costs, talent shortages, and difficulties in converting results into practical applications [1]. Group 1: Financial Support - Tax incentives are being enhanced, with the R&D expense deduction ratio increased to 100%, and certain key sectors like integrated circuits and industrial mother machines receiving a 120% deduction ratio, significantly reducing the financial burden on enterprises [2]. - In 2024, private economic taxpayers will benefit from an additional tax reduction and refund amounting to 1.26 trillion yuan, with many companies reinvesting these savings into R&D [2]. Group 2: Talent Attraction and Retention - Policies are being developed to improve talent attraction, cultivation, and retention, including "talent green cards" in cities like Suzhou, which provide various subsidies for high-end talent recruited by private enterprises [3]. - The government is promoting partnerships between private enterprises and universities, exemplified by "order classes" in Wuhan, allowing students to engage in projects while studying, ensuring direct employment upon graduation [3]. - In 2024, the top 1,000 private enterprises in R&D will employ 1.84 million R&D personnel, with an average R&D expenditure of 778,300 yuan per person, reflecting the effectiveness of these initiatives [3]. Group 3: Reducing Trial and Error Costs - To address the issue of result conversion, efforts are being made to establish over 2,400 pilot platforms in manufacturing, with plans to create a national pilot service network, such as the Honeybird Intelligent Manufacturing Pilot Base in Chengdu, providing lower-cost trial opportunities for innovation [4]. - Data indicates that the industrialization success rate of technology results verified through pilot testing can reach over 80% [4]. - By 2026, private enterprises will receive stronger policy support for technological innovation, emphasizing the need for a focus on practical industrial applications rather than chasing technological trends [4].