Core Viewpoint - The People's Bank of China (PBOC) aims to continue implementing a moderately accommodative monetary policy, enhancing counter-cyclical and cross-cyclical adjustments to support stable economic growth and reasonable price recovery [1][4]. Group 1: Monetary Policy Implementation - The PBOC's monetary policy committee recently held a meeting to discuss the main ideas for the next phase of monetary policy, emphasizing the integration of incremental and stock policies [4]. - The meeting suggested using various tools to strengthen monetary policy regulation, ensuring liquidity remains ample and aligning money supply growth with economic growth and price level expectations [5]. Group 2: Financial Support and Structural Policies - The meeting highlighted the importance of effectively implementing various structural monetary policy tools to support key areas such as domestic demand expansion, technological innovation, and small and micro enterprises [5]. - The PBOC plans to utilize securities, funds, and insurance company swap facilities, as well as stock repurchase and refinancing, to maintain capital market stability [5]. Group 3: Domestic Economic Focus - The PBOC intends to prioritize strengthening the domestic economic cycle, balancing total supply and demand, and enhancing the forward-looking, targeted, and coordinated nature of macro policies [5]. - The focus will be on expanding domestic demand, optimizing supply, and continuously consolidating and expanding the momentum of stable economic growth [5].

Core Viewpoint - The article highlights the launch of a special report titled "Ten Actions for Development (Season 2)" by the Tianjin Station of the Central Radio and Television Station, focusing on ten aspects of high-quality development in Tianjin, including the integration of technology innovation and industrial innovation [2]. Group 1 - The report showcases the vibrant scenes of high-quality development in Tianjin, emphasizing the collaboration between education and technology to foster new development momentum [2]. - The focus is on the Tianjin-King's College Science and Technology Innovation Park and Tianjin University of Science and Technology, where the integration of scientific research enterprises and educational institutions is explored [2].

中证报中证网讯（记者 刘英杰）自今年5月债券市场"科技板"正式落地以来，中国科技创新债券市场迅 速扩容，成为驱动科技创新的重要金融引擎。中国银河（601881）证券积极布局，通过构建全方位做市 服务体系、创新联动一二级市场模式，持续为科技创新领域注入金融"活水"，助力新质生产力发展。 市场数据显示，科创债已成为信用债市场重要的增量来源。据中国证券业协会统计，2025年前三季度， 共有75家证券公司作为科创债主承销商，合计承销金额达7051.8亿元，同比增长57.77%。 在服务科技创新企业的竞争中，头部券商的专业优势日益凸显。今年5月科创债发行主体扩容后，中国 银河证券等12家券商迅速披露了公开发行科技创新公司债券的公告。相关科创债募集资金除直接投向科 技创新领域业务外，部分券商还将募集资金用于科创债的做市承销等业务。业内人士表示，券商不仅能 提供高质量承销服务，更能在股权、债权、投资及做市等方面为科创企业提供全方位支持。 随着市场深化，科创债发行主体日益多元化。此前，中国银河证券作为牵头主承销商，成功支持君联资 本发行了债券市场"科技板"启动后全国首批、北京首单民营股权投资机构科创债。 中国银河证券相关负责 ...

近5年中央企业研发经费累计超5万亿元 从2025年中央企业经营情况来看，会议透露，今年1至11月，中央企业实现增加值9.5万亿元，同比增长 1.4%。同期，中央企业年化全员劳动生产率81.1万元/人、同比提升3%，营业收现率、营业收入利润 率、年化净资产收益率均保持在合理水平；完成固定资产投资(不含房地产)3.3万亿元、同比增长0.7%。 今年以来，官方持续加强政策供给，中央企业以更大力度强化自主创新。1至11月，中央企业研发投入 8901.6亿元，研发投入强度达到2.62%。97个原创技术策源地取得标志性成果121项。中核集团新一代可 控核聚变实现离子电子"双亿度"，中国电信接通全球首例超1000公里量子密信通话。(完) 来源：中国新闻网 编辑：王永乐 广告等商务合作，请点击这里 本文为转载内容，授权事宜请联系原著作权人 中新经纬版权所有，未经书面授权，任何单位及个人不得转载、摘编或以其它方式使用。 关注中新经纬微信公众号(微信搜索"中新经纬"或"jwview")，看更多精彩财经资讯。 中新社北京12月24日电 (记者 庞无忌)中央企业负责人会议12月22日至23日在北京召开。会议透露，"十 四五"期间，中 ...

Core Viewpoint - The meeting of Tianma Intelligent Control's second Technology Committee aims to enhance technological innovation and strategic planning in alignment with Xi Jinping's thoughts on innovation, summarizing the achievements of the first committee and outlining future work plans [1][7]. Group 1: Meeting Overview - The meeting was guided by Xi Jinping's thoughts on technological innovation and aimed to summarize the first committee's achievements while planning for future initiatives [1][7]. - Key figures present included Liu Zhiguo, the company's Party Secretary and Chairman, and Wang Guofa, the Chief Scientist and Director of the Technology Committee [10][15]. Group 2: Committee's Role and Strategy - The Technology Committee is identified as the core institution for the company's technological governance, responsible for top-level design, decision-making on technological innovation, and coordination of research resources [3][9]. - The company emphasizes a development strategy based on coal, while also diversifying into non-coal sectors, aiming for a collaborative development model between coal and non-coal industries [11]. Group 3: Discussions and Future Focus - Participants engaged in discussions on technology strategy, resource coordination, and innovation breakthroughs, providing constructive and actionable suggestions [5][13]. - The new committee will focus on core technology challenges, strengthen collaboration between industry, academia, and research, and optimize the innovation ecosystem to establish the company as a leader in technology [5][13].

Core Viewpoint - During the "14th Five-Year Plan" period, Yunnan Chihong Zinc & Germanium Co., Ltd. has focused on resource development and technological innovation, achieving significant growth in operational efficiency and establishing itself as a leader in strategic metal resources [2][20]. Group 1: Operational Performance - The company has achieved a one-third increase in operating revenue compared to the "13th Five-Year Plan" and has doubled its profits, maintaining a healthy debt-to-asset ratio below 40% [2][20]. - Zinc alloy production has doubled during the "14th Five-Year Plan," making the company the second-largest producer in the country, with a significant increase in product customization capabilities [29]. Group 2: Resource Management - The company has significantly increased its lead and zinc resource reserves, which are expected to be the highest in the domestic industry and second globally by the end of 2025 [4][22]. - Innovative exploration techniques have opened new mining opportunities in previously considered unviable geological formations, enhancing the company's resource base [4][22]. Group 3: Technological Innovation - The company has made breakthroughs in processing low-grade mixed lead-zinc ores, converting 38 million tons of difficult-to-process resources into high-value products [7][25]. - It has established a comprehensive innovation matrix with 14 innovation platforms and has received numerous national and provincial awards for technological advancements [7][25]. Group 4: Green Development - The company has implemented a full-chain green development model, establishing seven green mines and six green factories, promoting sustainable practices across its operations [14][32]. - Advanced technologies such as oxygen-rich smelting and waste heat recovery have been adopted, leading to industry-leading energy efficiency and a comprehensive carbon footprint certification [14][32]. Group 5: Future Outlook - The company aims to align with national strategies and contribute to the development of a world-class mining and non-ferrous metal group, focusing on technological leadership and resource optimization [17][35].

张玉卓表示，国有企业改革深化提升行动主体任务基本完成，2026年将在新起点上推动改革再上新台阶。 内容来源 | 新华社、中国证券报 重点提要 2026年中央企业将多措并举稳经营、提质效： 2026年要多措并举优布局、调结构： 2026年将统筹推进技术攻关、成果转化和人才生态建设： 作为国民经济的中流砥柱，中央企业在"十五五"开局之年的改革动向与发展布局，备受市场关注。12月22日，国务院国资委主任张玉卓在2025年度中央企 业负责人会议上表示，国有企业改革深化提升行动主体任务基本完成，2026年将在新起点上推动改革再上新台阶。他表示，要加强上市公司质量和市值管 理，大力推进战略性、专业化重组整合和高质量并购。 全力以赴稳经营提质效 今年以来，中央企业经济效益保持总体平稳。数据显示，1-11月，中央企业实现增加值9.5万亿元，同比增长1.4%；年化全员劳动生产率81.1万元/人、同 比提升3%，营业收现率、营业收入利润率、年化净资产收益率均保持在合理水平。 面对复杂经济环境，2026年中央企业将多措并举稳经营、提质效。 "要抢抓市场拓展发展空间。"张玉卓表示，中央企业要探索运用各种大数据模型和行业模型，精准捕捉 ...

Core Viewpoint - The expansion of the optical industry in Guangzhou, particularly in the AR/VR and eye health product sectors, signifies a strategic move by Zeiss to establish a second growth curve, with total investment exceeding 400 million yuan [1] Group 1: Industry Growth and Investment - The optical industry in Guangzhou is undergoing significant expansion, with a total investment of over 400 million yuan in the third phase of the Zeiss optical industrial project [1] - The ultra-high-definition video and new display technology industry in Guangdong has surpassed 900 billion yuan in revenue, positioning it to become the province's tenth trillion-yuan industrial cluster [1][4] - Guangdong has successfully fostered two trillion-yuan industrial clusters in the automotive and new energy sectors over the past two years, indicating a robust industrial growth trajectory [1] Group 2: Technological Advancements - The recent 15th National Games showcased advanced display technologies, including a 2500 square meter holographic transparent screen, highlighting Guangdong's strength in ultra-high-definition video and new display industries [1][2] - The introduction of a 2mm thick 3D floating screen at the Shenzhen Bay Sports Center exemplifies China's leading position in display technology innovation [2] - The establishment of TCL's 8.6 generation printed OLED production line represents a significant breakthrough in the display industry, aiming to lead the market with advanced technology [3] Group 3: Ecosystem and Collaboration - The integration of technology and industry innovation in Guangdong is creating a "chain reaction" that accelerates the emergence of new industries, supported by financial and talent resources [1][6] - The collaboration between traditional and emerging industries in Guangdong enhances the efficiency of innovation and market responsiveness, as seen in the rapid growth of companies like Thunderbird Innovation Technology [6][7] - The establishment of national innovation centers in Guangzhou for printing and flexible display technologies provides critical support for companies in the new display sector [7]

本期债券于2025年12月22日簿记建档，并于2025年12月24日发行完毕，发行规模为人民币10亿元，品种 为5年期固定利率债券，票面利率为1.99%。本期债券的募集资金将投向《金融"五篇大文章"总体统计制 度（试行）》中规定的科创领域，包括发放科技贷款、投资科技创新企业发行的债券等，专项支持科技 创新领域业务。 （文章来源：北京商报） 北京商报讯12月24日，西安银行发布公告，经中国人民银行批准，该行近日在全国银行间债券市场公开 发行了"西安银行股份有限公司2025年科技创新债券"（以下简称"本期债券"）。 ...

Group 1 - The core theme of the "14th Five-Year Plan" is to promote high-quality development, focusing on building a modern industrial system, accelerating high-level technological self-reliance, and constructing a financial powerhouse [1] - The shift in industrial development during the "15th Five-Year Plan" will emphasize "intelligent, green, and integrated" approaches, moving away from the previous focus on "high-end" manufacturing [2] - The integration of innovation chains, industrial chains, capital chains, and talent chains is crucial for transforming technological achievements into productive forces, marking a transition from upgrading individual industries to systemic collaboration and integration [2] Group 2 - The securities industry is tasked with serving the construction of a financial powerhouse, enhancing the inclusiveness and adaptability of capital markets to support new industries, new business formats, and new technologies [3] - Future capital market reforms will focus on coordinating investment and financing functions, emphasizing the need for long-term capital market stability and the development of direct financing tools like equity and bonds [3] - Securities firms are encouraged to utilize diverse financing tools such as mergers and acquisitions and technology innovation bonds to enhance their service efficiency for new productive forces [3]