开放水平发生深刻转变，内外联动"双循环"优势凸显体现在：坚持把高水平开放作为关键一招，树牢开 放理念，拓展开放空间，集聚开放要素，构建内陆城市"内外联动、陆海统筹、双向开放"新格局。 "十四五"时期，是聊城发展进程中极不平凡、极不寻常的五年。五年来，面对复杂严峻的宏观环境和艰 巨繁重的改革发展稳定任务，在省委、省政府和市委的坚强领导下，聊城市坚定扛牢"走在前、挑大 梁"的使命担当，深入践行"6293"工作思路，坚持发展为要、项目为王、生态为先、民生为本、稳定为 基，推动"十四五"规划主要目标任务顺利完成，聊城高质量发展迈出坚实步伐。 当下，"十四五"即将圆满收官。12月10日，聊城市政府新闻办公室举行新闻发布会，聊城市委副书记、 市长张百顺，介绍了全市高质量完成"十四五"规划的有关情况。 张百顺介绍，回顾这五年，聊城的发展不仅体现了量的增长，更实现了结构的优化、动能的转换、质量 的跃升。概括来讲，主要体现在"一个重大提升"和"五个深刻转变"。 "一个重大提升"是指综合经济实力实现了重大提升。"五个深刻转变"，一是发展根基发生深刻转变，产 业"强矩阵"加快蝶变；二是空间格局发生深刻转变，城市"新版图"全面铺开； ...

齐鲁晚报·齐鲁壹点 陶春燕 "十四五"时期，是聊城发展进程中极不平凡、极不寻常的五年。五年来，聊城市坚定扛牢"走在前、挑 大梁"的使命担当，深入践行"6293"工作思路，坚持发展为要、项目为王、生态为先、民生为本、稳定 为基，推动"十四五"规划主要目标任务顺利完成，高质量发展迈出坚实步伐。当下，"十四五"即将圆满 收官。12月10日，聊城市政府新闻办公室举行新闻发布会，介绍了全市高质量完成"十四五"规划的有关 情况。 市住房和城乡建设局党组书记、局长杨延星介绍，"十四五"以来，聊城市坚持以城市内涵式发展为主 线，以推进城市更新为重要抓手，着力推动城市结构优化、品质提升、民生改善、文脉赓续，实现"四 个更加"。 城市更加有品质。主要从四个方面发力。一是抓片区。编制完成城市更新专项规划，统筹实施香江中 轴、东北片区等11个片区综合更新改造，创建了多个省级城市更新试点。二是拓路网。全市新增城市道 路600余公里，累计突破3000余公里；建成大型桥梁40余座，完成东昌路、柳园路等城市主干道建设改 造，城市脉络更加顺畅。三是优生态。实施城市增绿行动，全市新增绿地1700公顷，累计达到1.3万公 顷；新建成公园48个、口 ...

Core Viewpoint - The "14th Five-Year Plan" period has been significant for Liaocheng, with the city achieving high-quality development and successfully completing its main objectives through a focus on transportation, ecological sustainability, and public welfare [1] Group 1: Transportation Infrastructure Development - Liaocheng has made substantial progress in building a modern comprehensive transportation system, including the successful opening of the Jizheng High-Speed Railway, marking the city's first high-speed rail connection [2] - The construction of the Xiongshang High-Speed Railway is nearing completion, with both railways converging at Liaocheng West Station, which will serve as a regional hub [2] - Major advancements have been made in highway construction, with the total highway mileage expected to exceed 560 kilometers by the end of the year, establishing a "double highway" network across all counties [2] Group 2: Rural and Urban Connectivity - The city has implemented 55 major repair projects on national and provincial roads, improving over 800 kilometers of road capacity and safety [3] - More than 2,800 kilometers of rural roads have been newly constructed or renovated, contributing to rural revitalization and earning recognition for exemplary rural road development [3] - The completion of the 121-kilometer outer ring road has alleviated urban traffic pressure and enhanced the flow of resources between urban and rural areas [3] Group 3: Public Transportation Enhancements - The city has focused on improving public transportation services, including the establishment of a high-speed rail bus connection system to facilitate last-mile connectivity [4] - Free public transport during the heating season has been implemented for six consecutive years, addressing winter travel needs for residents [4] - Initiatives to enhance taxi services include the creation of 111 driver service stations and improvements in the operational standards of ride-hailing services [4] Group 4: Green Transformation and Sustainable Development - Liaocheng has taken the lead in the province by introducing a three-year action plan for green transformation in transportation, including the establishment of a zero-carbon highway service station [5] - The city has initiated several innovative practices in the transportation sector, such as carbon trading and the development of charging infrastructure for electric vehicles [5] - Future plans include enhancing transportation networks and service quality to support high-quality development and sustainable growth [5]

赶在全年收官之前，华阳集团已率先完成煤炭稳产稳供任务。这是华阳集团在安全管理、生产组织、技 术创新等多维发力下，扛牢国企"硬担当"，筑牢能源安全"压舱石"的坚实成果，也为保障经济社会平稳 运行，完成全年发展目标提供了有力的能源支撑。 今年以来，面对生产条件复杂、安全压力大、市场形势严峻等困难，华阳集团始终将稳产稳供与安全生 产统筹部署、一体推进。华阳集团管理层靠前指挥、细致谋划，层层压实责任，精准制定攻坚举措，在 全力保障能源供应稳定的同时，持续夯实高质量发展根基。 安全管理方面，严格落实华阳集团一号文件精神，牢固树立"安全是管出来的"理念，将"十真"管理要求 贯穿生产全流程、各环节，层层压实安全生产主体责任。通过强化双重预防机制建设和安全生产标准化 建设，实施月度"拉网式"大排查、"安全小分队"督查，推广安全生产岗位清单"明白卡"，织密安全防控 网络。全面推行"无监控不作业"，实施五级视频筛查，用真管严管把安全落到实处。常态化开展"怕"的 教育，全面铺开"亲情助安 安全华阳"系列活动、安全宣教主题活动、亲情帮教座谈会等，引导职工时 刻绷紧安全弦，切实筑牢安全生产防线。 生产组织方面，聚焦"提质增效、稳产高产 ...

Core Viewpoint - The A-share market experienced mixed performance on December 10, with the Shanghai Composite Index declining by 0.23%, while the Shenzhen Component Index rose by 0.29%. Key sectors such as duty-free shops, precious metals, retail, and diversified finance saw gains, whereas banks, consumer electronics, and cultivated diamonds faced declines [1]. Fund Flow Summary - On December 10, stock ETFs (including cross-border ETFs) saw a net outflow of 32.8 billion yuan. The top five sectors for net inflows were dividends (10.1 billion yuan), Sci-Tech 50 Index (8.5 billion yuan), Hong Kong tech (7.6 billion yuan), Hang Seng Tech Index (7.2 billion yuan), and semiconductors (5.7 billion yuan) [3]. - The sectors with the highest net outflows included the CSI 300 Index (17.7 billion yuan), CSI 500 Index (16.1 billion yuan), CSI 1000 Index (10.0 billion yuan), Shanghai 50 Index (9.0 billion yuan), and artificial intelligence (8.0 billion yuan) [3][8]. ETF Performance - Leading fund companies reported that E Fund's ETF had a latest scale of 820.53 billion yuan, with a net inflow of 4.3 billion yuan on the previous day, marking an increase of 219.88 billion yuan year-to-date [3]. - The top inflow ETFs included A500 ETF (6.29 billion yuan), Sci-Tech Chip ETF (6.17 billion yuan), and Hong Kong Tech 50 ETF (4.36 billion yuan) [7]. - Conversely, the top outflow ETFs were CSI 500 ETF (-14.43 billion yuan), CSI 300 ETF (-9.64 billion yuan), and Shanghai 50 ETF (-8.55 billion yuan) [8]. Market Outlook - E Fund's index investment department manager indicated that the market is expected to stabilize, with a balanced style being more suitable. December is seen as a transitional period for policies and corporate operations, with important meetings providing key insights for the economic direction in the coming year [9]. - Longcheng Fund expressed optimism towards technology, brokerage, and consumption sectors, highlighting opportunities in Hong Kong internet, media, computing, and manufacturing sectors, as well as in financial services and cyclical stocks [9].

【导读】昨日股票 ETF 资金净流出超 30 亿元 中国基金报记者 曹雯璟 12 月 10 日， A 股三大指数低开震荡下探，截至收盘，沪指跌 0.23% ，深证成指涨 0.29% ，创业板指跌 0.02% 。盘面上，免税店、 贵金属、零售、多元金融等概念股涨幅居前，银行、消费电子、培育钻石等板块跌幅居前。 当日，股票 ETF 资金净流出超 30 亿元，其中， 券商 ETF 、证券保险 ETF 、绿色电力 ETF 等热门主题 ETF 资金净流入居前， 中证 500ETF 、沪深 300ETF 、上证 50ETF 、中证 1000ETF 等宽基 ETF 成为 " 失血 " 大户。 昨日股票 ETF 资金净流出超 30 亿元 宽基 ETF 成为 " 失血 " 大户 从单日资金净流入排行看， A500ETF 、港股科技 50ETF 、科创板 50ETF 等宽基 ETF 成为 " 吸金 " 主力，券商 ETF 、证券保险 ETF 、绿色电力 ETF 等热门主题 ETF 资金净流入居前。 | | | 12月10日资金净流入居前的股票ETF一览 | | | | | --- | --- | --- | --- | --- ...

张百顺介绍，回顾这五年，聊城的发展不仅体现了量的增长，更实现了结构的优化、动能的转换、质量 的跃升。概括来讲，主要体现在"一个重大提升"和"五个深刻转变"。 齐鲁晚报·齐鲁壹点 陶春燕 "十四五"时期，是聊城发展进程中极不平凡、极不寻常的五年。五年来，面对复杂严峻的宏观环境和艰 巨繁重的改革发展稳定任务，在省委、省政府和市委的坚强领导下，聊城市坚定扛牢"走在前、挑大 梁"的使命担当，深入践行"6293"工作思路，坚持发展为要、项目为王、生态为先、民生为本、稳定为 基，推动"十四五"规划主要目标任务顺利完成，聊城高质量发展迈出坚实步伐。 当下，"十四五"即将圆满收官。12月10日，聊城市政府新闻办公室举行新闻发布会，聊城市委副书记、 市长张百顺，介绍了全市高质量完成"十四五"规划的有关情况。 以政策强信心。在全面落实中央和省一揽子政策基础上，连续推出破解经济堵点卡点的"稳经济49 条""聊城制造20条""财金联动26条""稳楼市25条"等，通过政策集成发力，市场预期得到有效提振。 以内需争主动。创新建立市县一体的重点项目挂图作战和要素保障指挥部，构建从项目谋划到论证、落 地、建设、投产的全周期协同管理系统，累计 ...

Core Viewpoint - The article discusses the current challenges and strategies of the tea brand Bawang Chaji, highlighting its rapid expansion, declining profitability, and the need for product innovation to maintain market relevance [4][10][40]. Group 1: Financial Performance - Bawang Chaji reported a global store count of 7,338 and a quarterly GMV of 7.93 billion yuan, but faced a net profit decline of 38.5% year-on-year [4]. - The net profit margin decreased from 18.3% to 12.4%, while the operating profit margin fell from 22.4% to 14.2% [4]. - GMV in the Greater China region dropped by 6.2% to 7.63 billion yuan, with average monthly GMV per store declining by 28.3% to 378,500 yuan [5]. Group 2: Product and Innovation Strategy - Bawang Chaji launched a new product, the Boya Juexian Flower Fragrance, after a long wait, but consumer feedback was mixed [2]. - The company aims to enhance product offerings and has plans for a new menu and special tea products, while also maintaining existing popular items [6]. - The brand's reliance on the successful Boya Juexian product, which has generated over 12.5 billion cups sold, poses a challenge for future innovation [25][27]. Group 3: Franchise and Market Dynamics - Franchisees are experiencing profit pressures due to increased competition and a price war in the tea market, with some reporting longer payback periods for their investments [15][19]. - Bawang Chaji has introduced a new revenue-sharing model for franchisees, transitioning from fixed fees to a commission-based structure to improve profitability [17][19]. - The company is facing challenges in securing prime locations for new stores, leading to a competitive environment among franchisees [16]. Group 4: Organizational Changes and Leadership - The arrival of CFO Huang Hongfei marks a significant shift towards a more structured and disciplined financial approach, aiming for a public listing and improved financial models [37]. - The company is undergoing organizational adjustments to balance traditional management with modern operational practices, focusing on product innovation and team collaboration [38][39]. - Founder Zhang Junjie is adapting to the challenges of scaling the business while maintaining a strong focus on product quality and brand identity [40][41].

Core Viewpoint - The company emphasizes high-quality development in financial services, aligning with national economic goals and focusing on risk prevention, structural adjustment, and governance improvement [1][2]. Group 1: Business Performance - The company achieved over 80% growth in total revenue and a more than 70-fold increase in net profit compared to the three-year average before restructuring [2]. - The asset management scale of the company surpassed 1 trillion yuan, maintaining the highest A-level rating in the trust industry [2]. - The company has expanded its service offerings in carbon asset management, establishing a comprehensive ecosystem for carbon asset services [2]. Group 2: Risk Management and Compliance - The company has implemented a comprehensive risk management system, focusing on preemptive, ongoing, and post-event risk control [3]. - There is an ongoing optimization of risk governance mechanisms, including risk preference management tools and risk responsibility lists [3]. - The company has enhanced its compliance management capabilities, aligning with regulatory requirements and improving compliance risk control [4]. Group 3: Internal Management - The company has established a modern corporate governance structure, enhancing decision-making and risk management processes [5]. - The governance structure has been improved with strict oversight of board decisions and the establishment of independent director work systems [5]. - The company has developed an ESG governance framework to promote sustainable development and integrate ESG performance into assessments [5]. Group 4: Information Disclosure - The company has improved the readability and transparency of its reports, achieving "zero errors" in disclosures [6]. - There is a dynamic tracking system for related transactions and significant contracts to ensure timely and accurate disclosures [6]. Group 5: External Governance and Market Recognition - The company has received multiple honors from authoritative institutions, enhancing its reputation in the capital market [7]. - The company has actively participated in industry forums and exhibitions, showcasing its achievements in energy efficiency and green innovation [7]. - The company's credit rating has improved from AA+ to AAA, reflecting its strong market position and brand value [7]. Group 6: Investor Relations - The company has enhanced its investor relations management, focusing on investor needs and maintaining high-quality communication [8][9]. - The company has established a market value management system, ensuring a cash dividend ratio of over 30% since restructuring [9]. - The company's stock performance has consistently ranked among the top in its sector, with positive ratings from brokerage firms [9].

Core Viewpoint - The article discusses the strategic direction and initiatives of China Great Wall Asset Management Co., Ltd. in alignment with the "14th Five-Year Plan" and the spirit of the 20th Central Committee, emphasizing its role in supporting high-quality economic and social development in China [1][2]. Group 1: Strategic Alignment and Responsibilities - China Great Wall Asset emphasizes the importance of understanding and implementing the "14th Five-Year Plan" to enhance its service capabilities in supporting China's modernization [2]. - The company is committed to maintaining the leadership of the Communist Party in its governance and ensuring alignment with national policies to achieve high-quality development [2][3]. - The focus is on high-quality development, integrating national strategies with the company's core responsibilities, particularly in asset management and risk resolution [3]. Group 2: Key Business Initiatives - The company aims to support the construction of a modern industrial system by providing financial support for technological innovation and upgrading traditional industries, particularly in sectors like integrated circuits and renewable energy [4]. - China Great Wall Asset is actively involved in revitalizing distressed real estate projects and facilitating asset circulation to support domestic economic circulation [5][6]. - The company has participated in the risk resolution of small and medium-sized financial institutions, acquiring over 220 billion yuan in non-performing debts in the past three years to maintain financial stability [6]. Group 3: Reform and Development Mechanisms - The company plans to deepen its management system reforms to enhance governance efficiency and risk management capabilities [7]. - It aims to build a comprehensive risk control system and improve its ability to meet diverse market needs through various financial tools [7]. - The company is focusing on digital transformation and technological empowerment to enhance asset valuation and decision-making processes [8].