与此同时，越政府积极促进公私合作，鼓励社会参与；大力推进行政程序改革，改善投资营商环 境；发展绿色经济、数字经济必须通过国家宏观治理和调控来实现，并通过每个公民、社会组织和企业 界的认知和行动来具体化；发展同步、现代化绿色和数字基础设施，特别是物流、智慧城市、数据中 心、5G网络和云计算等基础设施。 范希企业适应数字化和绿色转型双重变革，在生产经营中实施数字化转型，大胆投资新机器、设备 和技术以降低能源消耗，履行可持续发展和绿色增长承诺，关注每款产品的环境和社会指标。 （原标题：范明政总理出席2025年越南年度企业论坛） 越通社11月10日报道，越南总理范明政当日在河内出席2025年越南年度企业论坛（VBF）。论坛由 越南财政部、世界银行、国际金融公司及越南企业论坛联盟联合举办，主题为"企业与政府携手合作： 数字时代中的绿色转型"。 范高度评价论坛主题及各方坦诚、深入、建设性、充满热情的发言，衷心感谢国内外企业及发展伙 伴长期以来的合作与支持。范分享了越经济社会发展、投资与营商环境改革成就，重申政府决心持续改 善投资环境、加快行政改革。范表示，越南重点维护政治稳定、保障社会安全秩序；大力推进制度、基 础设施（ ...

Core Points - The signing of the China-ASEAN Free Trade Area 3.0 Upgrade Protocol is a significant milestone in cooperation, marking an expansion of economic integration into emerging areas such as digital, green, standards, and supply chains [1][3] - The protocol reflects a strong commitment to multilateralism and free trade amidst challenges to the international trade system, establishing a new benchmark for deep economic integration between China and ASEAN [1][3] Group 1: Key Features of the Protocol - The protocol introduces five new areas: digital economy, green economy, supply chain connectivity, competition and consumer protection, and support for small and medium-sized enterprises, showcasing a joint effort to lead international rule-making and promote cooperation in emerging fields [3][4] - It enhances the level of openness by establishing a systematic cooperation framework that includes both traditional areas like trade facilitation and emerging fields such as digital and green economies, injecting new momentum into regional economic growth [3][4] - The protocol aims to promote inclusive development by ensuring fair competition, protecting consumer rights, supporting small and medium enterprises, and enhancing the capacity of least developed countries, allowing all parties to benefit from regional economic growth [4]

来源：环球网 11月12日下午，以"链聚产业生态 绿动澎湃三江"为主题的2025宜宾三江新区产业投资推介会在四川宜 宾成功举办。本次推介会成果丰硕，共签约项目84个，总投资额达247.38亿元，涵盖新能源、新材料等 多个前沿领域，为区域经济高质量发展注入强劲新动能。 推介会汇聚了行业翘楚与资本力量，吸引了包括浙江软控智能科技股份有限公司、时代长安动力电池有 限公司、宁德时代新能源科技股份有限公司在内的100家知名企业及18家基金机构参与。会上，三江新 区（临港经开区）管委会发布了极具吸引力的基金矩阵机会清单，围绕存量与增量基金群进行统筹布 局，拟构建总规模超265.5亿元的投资发展基金矩阵，为产业发展提供强有力的金融支撑。同时，该新 区三江集团还推出了国有企业场景机会清单，共释放47个优质合作项目，总投资额超120亿元，并配套 提供96万平方米成熟产业承接空间，为各类市场主体搭建了广阔的发展平台与合作机遇。 作为宜宾市发展的"动力之芯与核心引擎"，宜宾三江新区近年来积极抢抓成渝地区双城经济圈建设、科 技革命与产业变革等重大机遇，发展能级持续提升。在全国城市新区潜力50强评比中，新区已跃升至第 15位；其核心区 ...

Core Viewpoint - The 15th National Games showcases advanced technology integration in sports, highlighting Guangdong's strength in innovation and its role as a hub for high-tech industries [1][6]. Group 1: Technological Innovations - The event features a comprehensive application of cutting-edge technologies, including AI, 5G, and robotics, enhancing the entire experience from event operation to audience engagement [1][6]. - The opening ceremony prominently displayed a 174-meter long AI-generated digital painting, created by Deep Yuan AI, showcasing iconic landmarks of the Greater Bay Area [2][7]. - The use of humanoid robots in the opening ceremony demonstrated significant advancements in robotics, with precise control and coordination achieved through advanced algorithms and simulations [3][4]. Group 2: Environmental Sustainability - The main torch tower utilized a non-traditional flame, employing water mist and light technology to create a simulated fire, significantly reducing carbon emissions [4][5]. - The event's energy supply was entirely green, with the main venue's electricity consumption estimated to reduce carbon emissions by 14,200 tons [5]. Group 3: Economic Impact and Industry Growth - The event serves as a platform for showcasing the value of sports events beyond competition, emphasizing the importance of technological innovation in driving economic growth [6][8]. - Guangdong's AI and robotics industry is a key focus, with the region accounting for one-third of the national core AI industry, and industrial robot production expected to grow significantly [7][8]. - The integration of technology in the event is seen as a catalyst for further industrial innovation, paving the way for advancements in smart manufacturing and other sectors [6][8].

Group 1 - The ChiNext Index has decreased by 1.34% as of November 12, 2025, with mixed performance among constituent stocks, where XW Communication led with a rise of 5.35% and Jing Sheng Electric fell by 6.82% [3] - The ChiNext ETF by Bosera has seen a decline of 1.41%, with the latest price at 2.87 yuan, while it has accumulated a rise of 31.66% over the past three months [3] - The trading volume for the ChiNext ETF was 17.58 million yuan, with a turnover rate of 1.45%, and the average daily trading volume over the past month was 47.38 million yuan [3] Group 2 - Guosen Securities predicts that technological innovation and green economy will continue to create structural opportunities during the 14th Five-Year Plan, leading to a more balanced capital market funding structure [4] - The industry return on equity (ROE) is expected to rise from 6% to 10% as refinancing is gradually relaxed, providing capital support for brokerage transformation [4] - China International Capital Corporation (CICC) emphasizes that AI remains a key investment theme, with strong demand anticipated for AI-related chip design sectors due to global infrastructure investments [4] Group 3 - As of October 31, 2025, the top ten weighted stocks in the ChiNext Index accounted for 58.2% of the index, including companies like CATL and Mindray Medical [5]

Core Insights - The report emphasizes that the year 2026, marking the beginning of the "14th Five-Year Plan," will witness deeper interactions between the macro economy and capital markets, driven by policy guidance and industrial upgrades, leading to structural opportunities in technology innovation and green economy [2] - The capital market's funding structure is expected to become more balanced, with a shift from savings to investments as residents become more aware of asset allocation, benefiting asset management products like public funds and bank wealth management [2] - The report anticipates a gradual relaxation of refinancing, providing long-term opportunities for the securities industry to enhance ROE from the current average of 6% to 10% by focusing on innovative areas such as AI applications and cross-border business [2] - Insurance companies are shifting from investment-driven strategies to focusing on real customer needs, leading to product innovation and value enhancement in areas like dividend insurance, health insurance, and pension insurance [2] Section Summaries 01 Structure: A New Starting Point - The financial industry is entering a new phase characterized by the dual drive of policy and industrial upgrades, fostering a new ecosystem of mutual engagement between industry and finance [2] 02 Market: A New Balance of Funds - The report highlights a structural shift in capital allocation, with increased investment in asset management products and a steady entry of long-term, low-risk institutional investors like insurance and annuities [2] - The "national team" funds are expected to continue stabilizing the market, allowing for a gradual release of previously restricted activities such as shareholder reductions and refinancing [2] 03 Securities: New Transformation After Financing - The securities industry is poised for a long-term improvement in ROE as financing channels open up, enabling a focus on innovative fields that enhance service efficiency and asset pricing capabilities [2] - The report suggests that the industry will increasingly invest in AI technology and cross-border business, moving away from homogeneous competition [2] 04 Insurance: New Value After Stabilization - Insurance companies are expected to innovate products that meet genuine customer needs, reducing reliance on investment volatility and focusing on protection-oriented businesses [2] - This transition aligns with societal trends such as aging populations and health management needs, leading to steady growth in new business value and embedded value [2]

Core Viewpoint - The article highlights China's significant role in the global clean energy transition, emphasizing that its advancements in renewable technology are beneficial for developing countries and the overall climate agenda, especially in the context of the COP30 conference in Brazil [1][5]. Group 1: China's Influence on Clean Energy - China has emerged as a clean technology superpower, significantly reducing the costs of clean energy, which allows developing countries to decrease fossil fuel imports and rely more on renewable energy [1][3]. - Since 2011, China's total investment in global manufacturing has exceeded $225 billion, with three-quarters of this investment flowing into "Global South" countries, surpassing the post-WWII Marshall Plan in inflation-adjusted terms [3][4]. - The shift in global climate action focus is evident, with developing countries like Brazil, India, and Vietnam rapidly expanding their solar and wind energy capacities, while poorer nations are skipping fossil fuel vehicles in favor of electric ones [4][5]. Group 2: Changing Global Dynamics - The article notes a transformation in the global economic landscape, where developing countries are now taking proactive steps in climate solutions, contrasting with the past when wealthier nations pressured them to reduce emissions without adequate support [4][5]. - The current market conditions for renewable energy are favorable, marking a turning point where political leadership is crucial for future climate initiatives [4][5]. - The absence of the U.S. at COP30, for the first time in 30 years, has positioned China at the center of negotiations, with its clean energy transition helping to maintain the integrity of the Paris Agreement [5].

Core Points - The meeting between China's Vice Minister of Science and Technology Chen Jiachang and British Ambassador to China Wei Lai emphasizes the ongoing strategic cooperation between China and the UK in the field of science and technology since the signing of the intergovernmental science and technology cooperation agreement in 1978 [1] - In 2024, Chinese President Xi Jinping and UK Prime Minister Starmer expressed a willingness to enhance strategic alignment and expand cooperation in areas such as green economy and artificial intelligence [1] - Both sides aim to implement the consensus reached by their leaders, deepen mutually beneficial cooperation, and leverage mechanisms like the China-UK Science and Technology Cooperation Joint Committee to strengthen policy dialogue and collaboration in key areas such as climate change and health [1] - The UK side values the depth and breadth of China-UK scientific innovation cooperation and is committed to exploring joint research to address global challenges, encouraging exchanges among researchers from both countries [1] Summary by Sections - **Strategic Cooperation**: The meeting highlights the significant achievements in China-UK strategic trust and cooperation in science and technology since 1978 [1] - **Future Collaboration**: Plans for 2024 include enhancing cooperation in green economy and AI, as discussed by the leaders of both countries [1] - **Implementation of Agreements**: Both parties are focused on implementing the leaders' consensus and enhancing cooperation in climate change and health [1] - **Research and Development**: The UK emphasizes the importance of joint research and researcher exchanges to contribute positively to global welfare [1]

Core Viewpoint - The development of a green economy has become a core direction for the new round of global technological revolution and industrial transformation [1] Group 1: Policy and Regulation - The Beijing Municipal Political Consultative Conference has proposed to accelerate the construction of an international green economy benchmark city and enhance its international influence [1] - Recommendations include the introduction of the "Beijing Green Transition Promotion Regulations" and the establishment of a green consumption incentive system [1][6] - The proposal aims to implement a carbon points benefit plan covering high-carbon scenarios such as public transport, express delivery, and takeout [1][6] Group 2: Technological Advancements - Beijing has accelerated the iteration and upgrading of green technology, with the number of effective green technology invention patents reaching 67,000, growing at an annual rate of 14.6% [3] - Nearly 200 key laboratories and engineering technology centers for green technology have been established, with ongoing construction of national-level green technology innovation platforms [3] - The establishment of the Beijing Hydrogen Energy Innovation Center and the completion of the National Hydrogen Fuel Cell Testing Center are notable advancements [3] Group 3: Strategic Development - The research group emphasizes that promoting green low-carbon development is a trend and that the green economy is becoming a competitive high ground globally [4] - It is suggested to align the goals of building a green economy benchmark city with the "14th Five-Year Plan" and integrate green development into urban strategies, industrial policies, and spatial layouts [4] - The construction of a green statistical monitoring system and the establishment of a "Beijing Green Brain" to integrate multi-source data on carbon emissions, energy, and transportation is recommended [4] Group 4: Market and Collaboration - The Beijing green cooperation network is gradually expanding, with the establishment of various national and international organizations in the city [3] - Successful hosting of international conferences such as the Global Energy Transition Conference and the Global Energy Internet Conference supports international green development cooperation [3]

Core Points - The signing of the new agreement between China and ASEAN is a strategic response to U.S. dollar hegemony and reflects a collective decision by ASEAN countries to strengthen economic ties with China after Trump's visit [1][5][16] Group 1: Agreement Details - The upgraded version of the agreement, known as the "China-ASEAN Free Trade Area 3.0," expands cooperation into new areas such as digital economy, green economy, and supply chain connectivity, marking a significant evolution from previous versions [5][7] - The new "origin rules" in the agreement allow products to be classified as "ASEAN origin" if at least 40% of their value comes from China and ASEAN countries, countering U.S. efforts to decouple supply chains [9][10] Group 2: Political Implications - The timing of the agreement's signing immediately after Trump's departure indicates a strategic move by ASEAN to assert its economic priorities and maintain unity against external pressures, particularly from the U.S. [5][10][16] - The agreement serves to stabilize ASEAN's internal dynamics, especially in light of the Philippines' increasing military cooperation with the U.S. under President Marcos, ensuring that economic cooperation remains the primary focus [10][14]