特约评论员熊夏柠 近日召开的中央经济工作会议确定了明年经济工作要抓好的八大重点任务，其中要求，要坚持创新驱 动，加紧培育壮大新动能。制定一体推进教育科技人才发展方案。建设北京（京津冀）、上海（长三 角）、粤港澳大湾区国际科技创新中心。强化企业创新主体地位，完善新兴领域知识产权保护制度。 党的二十届四中全会审议通过的《中共中央关于制定国民经济和社会发展第十五个五年规划的建议》 （下称《建议》）中指出，加快高水平科技自立自强，引领发展新质生产力。中国式现代化要靠科技现 代化作支撑。抓住新一轮科技革命和产业变革历史机遇，统筹教育强国、科技强国、人才强国建设，提 升国家创新体系整体效能，全面增强自主创新能力，抢占科技发展制高点，不断催生新质生产力。 发展新质生产力必须强化科技创新，需要建设现代化产业体系、加快高水平科技自立自强、加快构建高 水平社会主义市场经济体制、加快经济社会发展全面绿色转型等关键部署中。科技创新和产业创新，是 发展新质生产力的基本路径。《建议》多次提及"科技"和"创新"，体现了科创在发展新质生产力中的重 要驱动作用。 同时，科创还需要与产业创新深度融合，要强化企业创新主体地位，让创新与产业深度融合 ...

（来源：经济参考报） 2025年，债券市场"科技板"正式落地，为债券ETF市场注入了强劲发展动能。 作为连接金融与科技的重要工具，2025年科创债ETF在政策红利与市场需求的双重驱动下，实现了规模 快速扩容，以及交易活跃度的稳步提升，投融两端呈现出多元化发展的特征。 市场扩容提速 从投资端角度看，现阶段配置需求与交易需求并存。华泰证券固收分析师文晨昕指出，目前年金、理财 机构是科创债ETF的主要买盘之一，由于科创债ETF具备"T+0"、可质押、低费率等优势，叠加公募赎 回新规影响，市场对其需求有望持续扩充。 鹏华基金相关负责人也表示，相较于单券买入策略，科创债ETF具有低费率、低交易成本、透明度高、 分散度高、高效申赎等优势，有利于分散投资组合风险、提高资金使用效率，因此深受专业投资者认 可。 再就投资策略来看，目前各交易机构明显更关注成分券超跌带来的机会。多位一线交易员表示，科创债 ETF流动性较好，在纳入可质押库的基础上，其需求有望进一步提升，存在一定超额收益，适合左侧布 局。 截至11月末，科创债ETF市场迎来爆发式增长，规模扩容成效显著，一级市场供给充足，二级市场交易 活跃，整体呈现高质量发展态势。 ...

科技创新和产业创新，是发展新质生产力的基本路径。 近年来，我国创新驱动发展战略实施成效显著。 特约评论员 熊夏柠 党的二十届四中全会审议通过的《中共中央关于制定国民经济和社会发展第十五个五年规划的建议》 （下称《建议》）中指出，加快高水平科技自立自强，引领发展新质生产力。中国式现代化要靠科技现 代化作支撑。抓住新一轮科技革命和产业变革历史机遇，统筹教育强国、科技强国、人才强国建设，提 升国家创新体系整体效能，全面增强自主创新能力，抢占科技发展制高点，不断催生新质生产力。 发展新质生产力必须强化科技创新，需要建设现代化产业体系、加快高水平科技自立自强、加快构建高 水平社会主义市场经济体制、加快经济社会发展全面绿色转型等关键部署中。科技创新和产业创新，是 发展新质生产力的基本路径。《建议》多次提及"科技"和"创新"，体现了科创在发展新质生产力中的重 要驱动作用。 同时，科创还需要与产业创新深度融合，要强化企业创新主体地位，让创新与产业深度融合。《建议》 也提出，培育壮大新兴产业和未来产业。着力打造新兴支柱产业。实施产业创新工程，一体推进创新设 施建设、技术研究开发、产品迭代升级，加快新能源、新材料、航空航天、低空 ...

中新网重庆12月26日电 (记者刘相琳)重庆市工商联26日发布"2025重庆民营企业科技创新指数100强榜 单"显示，2024年，重庆民营科技创新指数100强民企研发费用总额229.6亿元，较上年增长32.43%，占 重庆全市研发经费支出的27.43%。 当天还发布了"2025重庆民营企业研发投入50家榜单""2025重庆民营企业发明专利50家榜单"。位 列"2025重庆民营企业研发投入50家榜单"前3位的是赛力斯集团股份有限公司、宗申产业集团有限公 司、马上消费金融股份有限公司；位列"2025重庆民营企业发明专利50家榜单"前3位的是视联动力信息 技术股份有限公司、赛力斯集团股份有限公司、OPPO(重庆)智能科技有限公司。(完) 据介绍，"2025重庆民营企业科技创新指数100强榜单"是在全国工商联第27次上规模民营企业调研的基 础上，综合企业部分公开数据，进行量化和综合评价后形成的。榜单排名前三的企业分别是赛力斯集团 股份有限公司、宗申产业集团有限公司、重庆智飞生物制品股份有限公司。 （文章来源：中国新闻网） 统计显示，2024年，重庆民营企业科技创新指数100强企业平均研发投入强度为3.9%，高于全市研 ...

Core Insights - The conference held on December 26 in Jinan focused on enhancing the technological innovation attributes of state-owned enterprises in Shandong Province, aiming to drive high-quality industrial development through deep integration of technology and industry [1][2]. Group 1: Technological Innovations - Shandong Heavy Industry Weichai Group invested 120 million RMB to develop methanol engines, addressing industry challenges such as oil emulsification and low-temperature cold starts, achieving full-scenario coverage in various applications [2]. - Shandong Gold Group developed a third-generation tailings filling technology that reduces energy consumption by 70% and has been recognized with the 2024 Shandong Provincial Science and Technology Progress Award for its international leading level [2]. Group 2: Collaborative Initiatives - Shandong High-speed Group and Shandong University established Qilu Transportation College, fostering talent and achieving over 10 billion RMB in economic benefits through collaborative innovation and technology transfer [3]. - Shandong Xinhua Pharmaceutical Co., Ltd. built a high-end talent team and established a national-level intelligent manufacturing demonstration factory, achieving breakthroughs in key technologies in various pharmaceutical fields [3]. Group 3: AI and Resource Sharing - The "Artificial Intelligence+" industry and technological innovation resource sharing platform was launched to support digital transformation and collaborative innovation among state-owned enterprises in Shandong [3][5]. - The platform will regularly publish typical application scenarios in technology research and production, aiming to enhance cooperation opportunities for small and medium-sized enterprises [5]. Group 4: R&D Investment Growth - R&D investment by Shandong state-owned enterprises increased from 25.57 billion RMB in 2020 to 52.91 billion RMB in 2024, with a compound annual growth rate of 20% [5]. - In the first 11 months of 2025, 26 state-owned enterprises invested 42.01 billion RMB in R&D, ranking first among provincial-level regulated enterprises in China [5].

Group 1 - Innovation is emphasized as the primary driving force for development, with a focus on technology empowering traditional industries and fostering emerging industries [2][3] - The visit to Luoyang Bearing Group highlights the company's success in breaking the reliance on imports for high-end bearings, with 70% of its total output now from self-developed products [2] - The "14th Five-Year Plan" has set ambitious goals for technological achievements, with 13 projects reaching international standards during this period [2] Group 2 - The importance of integrating technological innovation with industrial innovation is underscored, with a call for creating a supportive environment for the application of self-innovated products [3] - The "15th Five-Year Plan" emphasizes the need for self-reliance in technology and high-level innovation, reflecting China's determination to seize the technological high ground [3] - The narrative of innovation driving development is reinforced, indicating that innovation is crucial for future growth and economic advancement [3]

Core Viewpoint - Since the beginning of the "14th Five-Year Plan," Ningxia's state-owned enterprises have made significant progress in economic development, technological innovation, strategic support, and regulatory efficiency, leading to high-quality growth in state-owned assets and enterprises [3][19]. Economic Development Achievements - The total assets of regulated enterprises increased from 208.998 billion yuan at the end of the "13th Five-Year Plan" to 314.9 billion yuan, while operating income rose from 22.371 billion yuan to 32.2 billion yuan [3][12]. - Net assets grew from 103.435 billion yuan to 152.143 billion yuan, total profits increased from 0.891 billion yuan to 2.9 billion yuan, and tax payments rose from 0.976 billion yuan to 2.713 billion yuan [3][12]. - For the period from January to November 2025, regulated enterprises achieved operating income of 32.196 billion yuan, profits of 2.893 billion yuan, and tax payments of 2.713 billion yuan, with year-on-year growth rates of 13.8%, 26.4%, and 67.1% respectively [3][12]. Technological Innovation - A series of policy documents have been introduced to enhance technological innovation, including the "Guiding Opinions on Developing New Quality Productive Forces for State-owned Enterprises" and the "Special Action Plan for Technological Innovation (2025-2027)" [4][14]. - The intensity of R&D investment increased from 0.32% in 2020 to 1.57%, reflecting a growth of 1.25 percentage points [4][14]. - A total of 40 technology-based enterprises have been cultivated, including 10 high-tech enterprises and 5 gazelle enterprises [4][14]. Strategic Support - The transportation and construction sectors have successfully integrated the entire industry chain, while the agricultural sector has developed a modern agricultural system [5][15]. - Since 2025, investments in renewable energy projects have reached 10.168 billion yuan, with significant projects like the 1 million kW solar project in Lingwu and the 820,000 kW solar project in Yanchi achieving full capacity grid connection [5][15]. Regulatory Efficiency - A digital regulatory platform has been established to oversee 291 enterprises and 2,017 bank accounts, issuing 2,266 warning notifications to identify potential financial risks [7][17]. - The Ningxia State-owned Assets Supervision and Administration Commission has become the third in the country and the first in the Northwest to connect with the State Council's unified data collection and exchange [7][17]. Party Building Achievements - The "Strong Roots and Soul" and "Strong Foundation and Excellence" initiatives have been implemented to enhance party building within state-owned enterprises, with 62.8% of enterprises achieving a three-star or above party branch rating [8][18]. - The focus on social responsibility includes contributions to employment stability, energy supply, and public services, integrating party work with production and operations [8][18]. Future Directions - The Ningxia state-owned assets and enterprises system will focus on strengthening and optimizing state-owned enterprises and capital, addressing weaknesses in core functions and competitiveness, and enhancing regulatory efficiency [9][19].

Core Viewpoint - The Guangdong Province's plan aims to establish a financial service system that supports the construction of a technology-driven economy, promoting a virtuous cycle of "technology-industry-finance" to enhance technological self-reliance and productivity by 2027 [1][12]. Overall Goals - The strategy focuses on enhancing financial services for the technology-driven economy, targeting key areas in the Guangdong-Hong Kong-Macao Greater Bay Area and strategic emerging industries, aiming to build a modern technology finance matrix by the end of 2027 [2][13]. - The plan aims for technology-related loans to rank among the highest in the nation, with growth rates exceeding the average loan growth, and to significantly increase the scale of intellectual property pledge financing [2][13]. Key Focus Areas Key Regions - The plan emphasizes the importance of the Greater Bay Area's strategic positioning, focusing on major platforms like Hengqin, Qianhai, Nansha, and He Tao to enhance financial services in these areas [4][14]. Key Industries - Financial services will be directed towards emerging industries such as integrated circuits, new energy vehicles, low-altitude economy, biomedicine, and artificial intelligence, among others [5][14]. Key Enterprises - The initiative will support the "Ten-Hundred-Thousand" plan, focusing on 50 leading technology enterprises, 100 chain enterprises, and 10,000 specialized and innovative enterprises to strengthen the industrial chain [6][15]. Major Tasks Implementing Technology Finance Foundation Projects - The plan encourages the establishment of a technology innovation investment fund system, utilizing various types of funds to support early-stage technology enterprises and enhance their valuation and reduce financing costs [7][16]. - A comprehensive technology credit system will be developed to accommodate different stages of enterprise growth, with a focus on flexible repayment options and innovative credit products [8][17]. Enhancing Bond Market Support - The plan aims to leverage the bond market to support technology innovation, encouraging the issuance of technology innovation bonds to finance projects in this sector [8][18]. Capital Market Development - The strategy will utilize various capital market tools to support technology enterprises at different growth stages, promoting a structured listing and financing system [8][18]. Cross-Border Financial Services - The plan will facilitate cross-border financing for technology enterprises, allowing them to access international capital markets and improve their financial flexibility [18]. Risk Mitigation and Insurance - A risk-sharing mechanism will be established to reduce financing costs for high-tech enterprises, including government subsidies for loans and the development of specialized insurance products [9][18]. Data and Financial Technology Integration - Financial institutions will be encouraged to utilize big data and AI to create credit products based on the multidimensional data of technology enterprises, enhancing financing accessibility [9][18]. Knowledge Property Financial Ecosystem - The initiative will support the development of a comprehensive financial ecosystem for intellectual property, promoting innovative financing methods and insurance products related to IP [9][18]. Talent Development - The plan emphasizes the creation of a talent system that integrates technology, industry, and finance to support the development of a technology-driven economy [10][18].

Core Viewpoint - Natural uranium is a crucial strategic resource and energy mineral, essential for nuclear energy development and national energy security. The recent listing of China Uranium Industry (001280) on the Shenzhen Stock Exchange marks a significant integration of the natural uranium industry with the capital market, supporting high-quality development in the nuclear industry and enhancing capital support for energy security [1][2]. Group 1: Company Overview - China Uranium Industry has focused on the development of natural uranium and the comprehensive utilization of radioactive co-associated mineral resources, aiming to transition from a follower to a leader in the industry through technological innovation [2][4]. - The company has developed the "National Uranium No. 1" complete uranium extraction technology, establishing the first domestic single-unit thousand-ton uranium mine base, significantly enhancing the utilization of complex sandstone-type uranium resources [2][3]. Group 2: Technological Advancements - The company has created a modern production model characterized by "green, remote control, intelligent analysis, and high quality and efficiency," introducing a "digital in-situ leaching visualization efficient uranium extraction" system that revolutionizes traditional leaching methods [3][4]. - China Uranium Industry has achieved significant breakthroughs in core technical challenges, including multi-layer mineral collaborative mining and the extraction of high-calcium, high-iron aluminum, and high-mineralization uranium ores, establishing a comprehensive technical system for sandstone uranium mining [4][7]. Group 3: Financial Performance - The company has shown strong financial performance, with projected revenues of 105.35 billion, 148.01 billion, and 172.79 billion yuan for 2022 to 2024, reflecting a compound annual growth rate of 28.07%. Net profits are expected to reach 16 billion to 16.5 billion yuan in the current year, indicating a year-on-year increase of 9.70% to 13.13% [5][6]. Group 4: Strategic Initiatives - The IPO fundraising projects focus on "capacity expansion, resource utilization, and working capital supplementation," aligning with national strategies for energy security and clean energy, aiming to bolster the development of China's nuclear energy industry [6][7]. - Key domestic uranium mining projects include several in Inner Mongolia and Xinjiang, which will significantly enhance domestic uranium production and supply capabilities, reducing reliance on foreign sources [6][7]. Group 5: Future Outlook - The company aims to establish itself as a world-class enterprise, focusing on a multi-dimensional development plan centered on technology, green practices, digitalization, openness, safety, and well-being [6][7]. - China Uranium Industry's trajectory reflects the high-quality development of strategic resource industries in China, with expectations for continued advancements in technology and capital market integration to support national energy security and nuclear industry growth [7].

Core Viewpoint - Natural uranium is a crucial strategic resource and energy mineral, essential for nuclear energy development and national energy security. The recent listing of China Uranium on the Shenzhen Stock Exchange marks a significant integration of the natural uranium industry with the capital market, supporting high-quality development in the nuclear industry and enhancing capital support for energy security [1][2]. Group 1: Company Overview - China Uranium has focused on the development of natural uranium and the comprehensive utilization of radioactive co-associated mineral resources, aiming to transition from a follower to a leader in the industry through technological innovation [2][4]. - The company has developed the "Guo Uranium No. 1" complete uranium extraction technology, establishing the first domestic single-unit thousand-ton uranium mine base, significantly enhancing the utilization of complex sandstone-type uranium resources [2][3]. Group 2: Technological Advancements - The company has created a modern production model characterized by "green, remote control, intelligent analysis, and high quality and efficiency," introducing a "digital in-situ leaching visualization efficient uranium extraction" system that revolutionizes traditional leaching methods [3][4]. - China Uranium has made significant advancements in core technologies, including multi-layer mineral collaborative mining and the development of a third-generation in-situ leaching technology for complex sandstone uranium mines, addressing critical technical challenges [4][7]. Group 3: Financial Performance - The company has shown strong financial performance, with projected revenues of 105.35 billion, 148.01 billion, and 172.79 billion yuan for 2022, 2023, and 2024 respectively, reflecting a compound annual growth rate of 28.07%. Net profits are expected to reach 16 billion to 16.5 billion yuan in the current year, indicating a year-on-year increase of 9.70% to 13.13% [5][6]. Group 4: Strategic Initiatives - The IPO proceeds will focus on capacity expansion, resource utilization, and working capital, aligning with national strategies for energy security and clean energy development [6][7]. - Key projects include the in-situ leaching uranium extraction engineering at various uranium mines, which will significantly enhance domestic uranium production capacity and reduce reliance on foreign sources [6][7]. Group 5: Future Outlook - China Uranium aims to establish itself as a world-class enterprise, focusing on technology, green initiatives, digitalization, and safety, while ensuring a stable supply of natural uranium for nuclear power development [6][7]. - The company is positioned to lead the global natural uranium industry, leveraging capital market support and technological innovation to contribute to national energy security and the achievement of carbon neutrality goals [7].