（来源：光明日报） 数智化通过筑牢现代化产业体系、强化创新驱动效能、畅通经济循环、激发市场主体活力和增强国 际竞争力等多个维度赋能实体经济，助力实体经济高质量发展。 提升全要素生产率，筑牢现代化产业体系。现代化产业体系是中国式现代化的物质技术基础。在传 统产业转型升级方面，数智化通过强化产业基础能力和提升产业创新能力，促进传统产业提升技术水 平、提高生产效率。在新兴产业培育方面，数智化赋能新兴产业生态系统建设，推动新材料、新能源等 产业集群发展。在三次产业融合方面，数智化促进服务业与制造业、农业深度协同，增强产业体系韧 性，推动产业高端化、智能化、绿色化转型。 推动创新链产业链融合，强化创新驱动效能。数智化为科技创新与产业创新的深度融合搭建了桥 梁。在协同创新方面，通过搭建数字研发平台，能够打破科研机构、企业等创新主体间的信息壁垒，加 速科技成果落地转化。在重点技术领域攻关方面，依托数智化开展有组织科研，能够集中优质创新资 源，推动关键技术取得突破。在创新成果应用方面，数智化有助于提高技术供需匹配效率，加速完善创 新成果的应用场景和商业模式，推动技术优势转化为产业优势。 激活国内市场潜力，畅通经济循环。强大国 ...

Group 1 - The central economic work conference emphasizes the need to strengthen internal capabilities to address external challenges, providing important guidance for economic work in the coming year [1] - The international environment is increasingly complex, with rising unilateralism and protectionism, leading to significant challenges for global economic growth and increased external pressures on China's development [1] - Domestic economic challenges include a prominent contradiction between strong supply and weak demand, with risks in key areas that can be resolved through focused efforts [1] Group 2 - The strategy to build a strong domestic market aims to enhance domestic circulation, leveraging China's vast internal demand to counter international uncertainties and reshape competitive advantages [2] - The focus is on boosting consumption and investment through a dual approach of supply and demand, fostering a positive interaction between them to enhance the internal dynamics of the economy [2] - The commitment to a manufacturing powerhouse strategy includes maintaining a reasonable proportion of manufacturing, developing advanced manufacturing, and creating a modern industrial system centered on advanced manufacturing [2] Group 3 - There is a call to enhance independent innovation capabilities and seize the high ground in technological development, emphasizing the need for systematic deployment in key core technology breakthroughs [3] - The focus is on original and disruptive innovation to fundamentally address core scientific and technical issues, with an emphasis on building regional innovation systems and technology innovation centers [3] - The integration of innovation resources into enterprises is crucial for deepening the fusion of technological and industrial innovation, reinforcing the role of enterprises as the main body of technological innovation [3]

Core Viewpoint - The upcoming year 2026 marks the beginning of the "15th Five-Year Plan," with a focus on maintaining economic stability and growth amidst challenges and leveraging advantages for development [1][2]. Group 1: Economic Stability and Growth - The central economic work conference emphasizes the need to maintain confidence, utilize advantages, and address challenges to sustain the positive momentum of the economy [1]. - China's contribution to global economic growth has remained stable at around 30% during the "14th Five-Year Plan," with the economy expected to reach approximately 140 trillion yuan this year [1]. - Recent data from the National Bureau of Statistics indicates that China's economic operation continues to show a stable and improving trend [1]. Group 2: Challenges and Opportunities - There is a recognition of deepening external environmental changes, domestic supply-demand imbalances, and risks in key areas that pose challenges to economic progress [2]. - The importance of transforming advantages into strengths and potential into capabilities is highlighted as essential for maintaining economic momentum [2]. Group 3: Strategic Focus for Development - Strengthening the comprehensive leadership of the Party is deemed fundamental for advancing modernization and ensuring the implementation of high-quality development [3]. - The strategy focuses on expanding domestic demand, enhancing the adaptability of supply and demand in consumer goods, and promoting a unified national market to boost domestic circulation [3]. - Emphasis is placed on technological innovation to lead industrial upgrades and the development of a modern industrial system centered on advanced manufacturing [3].

Group 1 - The central economic work meeting emphasizes the need to "practice internal skills" to respond to external challenges, providing important guidance for economic work in the coming year [1] - The global environment is characterized by rising unilateralism and protectionism, leading to significant challenges for international economic and trade order, which increases external pressure on China's development [1] - Domestic economic challenges include a prominent contradiction between strong supply and weak demand, with risks in key areas that can be addressed through focused efforts [1] Group 2 - The strategy focuses on expanding domestic demand to counter international market uncertainties, aiming to reshape new competitive advantages through a consumption-driven economic model [2] - Emphasis on strengthening the real economy by implementing a manufacturing powerhouse strategy, maintaining a reasonable proportion of manufacturing, and developing advanced manufacturing sectors [2] - The plan includes fostering emerging pillar industries such as new energy, new materials, and aerospace, while optimizing traditional industries through upgrades and brand building [2] Group 3 - The goal is to enhance independent innovation capabilities and seize the high ground in technological development by addressing key core technologies and shortening innovation cycles [3] - The strategy involves strengthening original and disruptive innovation to fundamentally resolve basic scientific issues and improve regional innovation systems [3] - The focus is on integrating innovation resources into enterprises and promoting deep integration of technological and industrial innovation [3]

Core Insights - Shenzhen's economic and social development during the "14th Five-Year Plan" period is characterized as extraordinary, with a focus on becoming a globally influential economic center and modern international metropolis [1] Economic Performance - Shenzhen's GDP increased from 2.78 trillion yuan in 2020 to 3.68 trillion yuan in 2024, with an average annual growth rate of 5.5%, leading among first-tier cities [1] - The total value of industrial output and industrial added value has maintained the top position among national cities since 2022 [1] - Foreign trade import and export volume rose from 3.05 trillion yuan in 2020 to 4.5 trillion yuan in 2024, ranking first among national cities [1] Industrial Development - The added value of strategic emerging industries grew by over 10% annually, accounting for 42.3% of GDP [2] - Advanced manufacturing and high-tech manufacturing accounted for 68.2% and 58.2% of the industrial output, respectively [2] - Shenzhen is a leader in the production of 39 industrial products, including integrated circuits and industrial robots, with over 10% of the national share [2] Innovation and R&D - Total R&D investment increased from 151.08 billion yuan in 2020 to 245.31 billion yuan in 2024, with an average annual growth of 12.9% [3] - R&D intensity reached 6.67%, ranking first among national cities, with corporate R&D investment consistently above 93% of the total [3] - Shenzhen has maintained the highest number of PCT international patent applications for 22 consecutive years [3] Reform and Business Environment - Shenzhen has made significant progress in comprehensive reforms, with 48 innovative experiences and typical measures being promoted nationwide [4] - The number of business entities remains the highest among national cities, with 4.1 million new foreign-invested enterprises established since the beginning of the "14th Five-Year Plan" [4] - The port's customs clearance volume reached 245 million people in the first 11 months of this year, setting a new historical record [4] Future Outlook - The "15th Five-Year Plan" period is seen as a key opportunity for Shenzhen to solidify its role as a national economic center and a hub for innovation [5] - Shenzhen is positioned to leverage its advantages in fixed asset investment, retail sales, R&D intensity, and talent resources to lead in the practice of Chinese-style modernization [5]

Core Viewpoint - The article discusses the insights of Yin Yanlin, a member of the 14th National Committee of the Chinese People's Political Consultative Conference, regarding the "15th Five-Year Plan" and its implications for the development of China's industrial system [1][2] Group 1: Achievements and Challenges - During the "14th Five-Year Plan" period, China made significant achievements in industrial development, including the formation of a complete industrial system and steady progress in new productivity, while addressing some critical issues in the industrial chain [1] - However, there remains considerable room for improvement in technological innovation capabilities and the upgrading of industrial structures within China's industrial system [1] Group 2: Strategic Directions of the 15th Five-Year Plan - The "15th Five-Year Plan" is positioned as a critical period for achieving socialist modernization, with goals such as significant improvements in high-quality development and enhanced quality of life for the people [1] - The plan emphasizes the exploration of diverse technological routes, typical application scenarios, feasible business models, and market regulatory frameworks to promote new economic growth points in areas like quantum technology, biomanufacturing, hydrogen energy, nuclear fusion, brain-computer interfaces, embodied intelligence, and 6G mobile communication [1] Group 3: Focus on Traditional Industries - Yin Yanlin asserts that the focus of economic development should remain on the real economy, with traditional industries serving as the foundation of China's industrial system [2] - The transformation and upgrading of traditional industries through new technologies can create new productivity, highlighting the importance of maintaining this sector [2] Group 4: Future Development Principles - The future development of industries should adhere to the principle of combining effective markets with proactive government involvement, ensuring that market forces primarily guide industrial development and resource allocation while the government plays a role in creating a conducive environment [2]

Core Viewpoint - Ningbo Bank has been focusing on supporting key sectors such as private small and micro enterprises, manufacturing, import and export businesses, and consumer services, leading to a steady growth in loan scale [1] Group 1 - The company has implemented government and regulatory decisions to enhance financial services and support the real economy [1] - There is an emphasis on increasing resource allocation and support for targeted sectors [1] - The bank aims to maintain reasonable credit growth while effectively meeting the financing needs of the real economy [1] Group 2 - Future policies aimed at expanding domestic demand and promoting consumption are expected to further benefit the bank's operations [1] - The company plans to continue expanding the coverage of its financial services in response to the evolving economic landscape [1] - The focus remains on improving the quality and efficiency of financial services to support economic development [1]

Core Viewpoint - Digital finance is a powerful tool for optimizing financial services and is crucial for advancing technology finance, green finance, inclusive finance, and pension finance [1] Group 1: Integration of Digital Technology in Finance - Digital finance integrates technologies such as big data, cloud computing, blockchain, and artificial intelligence into the financial sector, creating new products, services, and business models [1] - This integration helps break down traditional financial information barriers and expands service boundaries, allowing funds to flow more efficiently to the real economy [1] Group 2: Addressing Information Asymmetry - Traditional financial services face information asymmetry, making it difficult for institutions to accurately assess credit risks, leading to high financing thresholds [2] - Digital finance can build a multidimensional credit assessment system by deeply mining data, providing comprehensive customer information to financial institutions [2] - As of February 2025, banks have issued loans totaling 37.3 trillion yuan through a national integrated financing credit service platform, effectively meeting corporate financing needs [2] Group 3: Avoiding Resource Misallocation - Traditional financial models often concentrate credit resources on large enterprises, neglecting small and micro enterprises due to high risks and costs [3] - Digital finance enhances the precision of products and services, improving the financing environment for small and micro enterprises [3] - For instance, over 70% of enterprises receiving credit from WeBank's "Micro Business Loan" have annual revenues below 10 million yuan [3] Group 4: Reducing Costs and Increasing Efficiency - Digital finance supports the use of digital currencies and mobile payments, enabling financial institutions to shorten business processes and reduce manual intervention [4] - The application of technologies like AI and blockchain allows for real-time risk monitoring and cost reduction [4] - The "14th Five-Year Plan" emphasizes the need for financial institutions to accelerate digital transformation and enhance service quality for the real economy [4] Group 5: Expanding Coverage and Precision - Digital finance should provide flexible credit support to new employment forms and bridge the digital divide for special groups [5] - Financial services should extend to traditional industries and create a comprehensive financial service system covering the entire innovation chain [5] - Enhancing rural digital inclusive finance and optimizing service points in central and western regions is also essential [5] Group 6: Improving Mechanisms for Development Quality - Accelerating the construction of digital financial infrastructure and optimizing computing power layout is crucial for building a secure and reliable technical foundation [6] - Implementing differentiated incentive policies can lower service costs and establish a market-oriented pricing and risk-sharing mechanism [6] - Strengthening data security and establishing a transparent regulatory system are necessary to ensure the safe and controllable expansion of digital financial services [6]

Core Viewpoint - The article emphasizes the importance of aligning the public fund industry with the strategic directives from the 20th Central Committee of the Communist Party of China, focusing on serving the real economy and promoting high-quality development in the fund industry [2][8]. Group 1: Service to the Real Economy - The public fund industry is tasked with the mission of supporting the real economy, which is essential for its own sustainable growth [3]. - Dachen Fund recognizes the need to enhance the quality and effectiveness of its services to the real economy, aiming to direct financial resources towards innovative and growth-oriented sectors [3][4]. - The company aims to integrate the service to the real economy into its development strategy and daily operations, aligning with the construction of a modern industrial system [3][4]. Group 2: Strengthening Professional Capabilities - Strong professional capabilities are deemed essential for financial services to effectively support the real economy, including excellent research and investment capabilities, a scientific risk control system, and a matching asset management scale [4]. - Dachen Fund has been actively transforming its operations by developing a comprehensive investment research system and enhancing compliance and risk management measures [4]. - The company has seen its total management scale for equity products reach 300 billion yuan, doubling over the past three years, and its fixed-income products reach 400 billion yuan, also nearly doubling [4]. Group 3: Strategic Focus on Key Areas - Dachen Fund is committed to focusing on key strategic areas such as technology finance, green finance, and pension finance, aligning its investment practices with national strategic goals [6][7]. - The company has increased its asset allocation in the information technology sector, with a growing proportion of its public funds directed towards this area [6]. - In green finance, Dachen Fund has integrated ESG factors into its investment decision-making process and has seen its assets in green finance-related funds nearly double over the past three years [6][7]. Group 4: Product Innovation - Product innovation is identified as a crucial approach for public funds to enhance their service to the real economy, addressing the diverse and complex financing needs of market participants [7]. - Dachen Fund has developed a range of innovative products, including ETFs focused on technology and green finance, to better meet the financing demands of strategic sectors [7]. - The company has actively participated in the development of multi-layered capital markets, launching various funds and engaging in new stock issuances and refinancing activities [7]. Group 5: Future Outlook - Looking ahead, Dachen Fund plans to continue its commitment to the principles outlined in the 20th Central Committee's directives, focusing on enhancing professional investment capabilities and innovating practices to contribute to the real economy and national strategies [8].

Core Viewpoint - The article emphasizes the importance of public funds in supporting the real economy and highlights the commitment of Dachen Fund to align its operations with national strategies for high-quality economic development [1][2]. Group 1: Service to the Real Economy - Dachen Fund recognizes that serving the real economy is a fundamental mission of public funds, essential for their own prosperity and development [2]. - The company aims to enhance the quality and effectiveness of its services to the real economy, leveraging its market power to guide financial resources towards innovative and growth-oriented sectors [2][3]. - Dachen Fund's management of various equity products has reached a total scale of 300 billion, doubling in size over the past three years, which enhances its ability to support corporate financing [3]. Group 2: Professional Capability Enhancement - Strong professional capabilities are deemed essential for financial services to the real economy, with Dachen Fund emphasizing the importance of excellent research and investment capabilities, a scientific risk control system, and a matching asset management scale [2][3]. - The company has been actively transforming its investment research system to improve its service quality and adapt to the evolving market demands [3]. Group 3: Strategic Focus and Innovation - Dachen Fund is committed to focusing on key strategic areas, aligning its investment practices with national strategic deployments, and accurately seizing opportunities in the financial sector [3][4]. - The company has significantly increased its investment in technology sectors, with the proportion of assets allocated to information technology rising continuously over the past three years [4]. - Dachen Fund has developed a range of innovative financial products, including ETFs focused on technology and green finance, to better meet the diverse financing needs of the market [5]. Group 4: Future Outlook - Looking ahead, Dachen Fund plans to continue its commitment to serving the real economy, enhancing its professional investment capabilities, and contributing to national strategies and the growth of residents' wealth [6].