有效投资持续扩大。长春新区成立项目管理和服务中心，实施"红绿灯项目"机制，全力推动项目开复工 取得实效。上半年，全区固定资产投资同比增长10%，高于全市4.9个百分点，高于全省9个百分点，已 开复工5000万元以上项目164个，开复工率达96.5%。 消费市场保持增长，新业态活跃向好。上半年，长春新区限上社会消费品零售额完成55.6亿元，同比增 长8.3%，增速分别高于省、市2.8和6个百分点。消费热度持续攀升，限上住宿餐饮营业额同比增长 16.7%。 当时间的指针划过年度的"上半程"，长春新区的"年中答卷"随即出炉：上半年，长春新区地区生产总值 (GDP)同比增长6.4%，增速分别高于国家、省、市1.2、0.7、0.7个百分点，较一季度加快1.2个百分点， 增速处于全市领先位次。 上半年，长春新区经济稳中有进，工业生产增长加快，投资和服务业充分发挥稳定器和主引擎作用，新 质生产力培育加速，高质量发展稳步推进，经济发展实现"双过半"，呈现向新向质聚能增势的良好态 势。 "跃动"的数字，彰显出长春新区经济的韧性与活力。上半年，长春新区工业经济实现"硬核支撑"，全区 规上工业增加值同比增长9.7%，增速分别高于省 ...

Core Viewpoint - The first half of 2025 marks a significant milestone for China's ETF market, with total ETF assets surpassing 4 trillion yuan, reflecting a 15.57% increase from the beginning of the year, driven by strong recognition of ETFs as efficient and transparent investment tools [2][10]. Market Overview - As of June 2025, the total number of ETFs in the market reached 1,209, with a combined scale exceeding 4.3 trillion yuan, where stock ETFs accounted for over 70% of the total [12]. - The market structure has diversified, with 20 ETFs experiencing growth of over 10 billion yuan, particularly in the bond ETF category, which saw a remarkable annual growth rate of over 120% [5][12]. - The emergence of benchmark credit bond ETFs has been a highlight, with several funds surpassing 20 billion yuan in scale, significantly boosting the bond ETF segment [6]. Fund Company Dynamics - The competitive landscape among fund companies is solidifying, with the top three ETF managers holding over 44% market share, while more than half of the public fund companies have ETF assets below 10 billion yuan [9][15]. - E Fund has shown exceptional growth, with its ETF scale increasing by over 4 billion yuan since the beginning of 2024, leading the market in net inflows [3][17]. Investment Trends - The first half of 2025 saw a notable trend in investment towards innovative drug ETFs, driven by multinational pharmaceutical companies accelerating the procurement of Chinese innovative drug patents, with some ETFs achieving returns exceeding 40% [7][21]. - The bond ETF category has gained significant traction, reflecting investor preference for safer assets in the current economic environment, with its scale growth outpacing that of stock ETFs [26]. Industry Innovations - The ETF industry has seen advancements in standardization and classification, with E Fund leading initiatives to simplify ETF naming conventions and product categorization, enhancing investor accessibility and decision-making [8][29][30]. - The introduction of the first batch of Sci-Tech bond ETFs marks a significant step in the evolution of bond investment tools, aimed at attracting long-term capital into key technology sectors [26]. Future Outlook - The second half of 2025 is expected to witness continued evolution in the ETF market, with ongoing institutional strategies and potential regulatory developments shaping the landscape [10].

· 2025 年 7 月 25 日 国都港股操作导航 海外市场重要指数 收市 幅度 道琼斯工业指数 44,693.91 -0.70% 标普 500 指数 6,363.35 0.07% 纳斯达克综合指数 21,057.96 0.18% 英国富时 100 指数 9,138.37 0.85% 德国 DAX 指数 24,295.93 0.23% 日经 225 指数 41,640.22 -0.44% 台湾加权指数 23,373.73 0.24% 内地股市 上证指数 3,605.73 0.65% 深证成指 11,193.06 1.21% 香港股市 恒生指数 25,667.18 0.51% 国企指数 9,257.62 0.18% 红筹指数 4,334.62 0.91% 恒生科技指数 5,743.00 -0.05% AH 股溢价指数 123.71 -0.42% 恒生期货 (7 月) 25505 -0.69% 国都香港研究部 星期五 电话：852-34180288 网址：www.guodu.com.hk 每日投资策略 恒指收涨 129 点 连升五日共 1168 点 恒指昨日低开 9 点，报 25528 点，早段好淡争持， 最多 ...

科创之城，创新潮涌。7月24日，由新华网主办、新华网思客智库承办的"打造科创共同体 共育新质生 产力"高质量发展思客会在安徽省合肥市举行。来自政企学研用领域的数百名嘉宾，围绕推进科技创新 力量协同合作、因地制宜发展新质生产力等议题展开跨界研讨，为产业提质向"新"建言献策。 中国工程院院士柴天佑在会上作专题报告《基于新一代信息技术的工业智能化》。他表示，新一代信息 技术正驱动工业自动化与信息化向工业智能化跨越，为此要把工业智能化从"0到1"的技术研究和工程 化、产品化连在一起，推动互联网、人工智能、元宇宙等新一代信息技术与工业场景紧密融合与协同， 加快构建工业智能系统，助力新质生产力的发展。 柴天佑强调："当前工业革命的核心在于构建具有自感知、自决策、自执行的智能系统。"今天为什么会 提出新工业革命？他表示，有两个"流"发生了改变：第一个是能源流，特别是新能源的出现让中国有机 会避开传统汽车高端发动机的制造和控制难题，采用新技术使中国电动汽车产业处于国际先进。 第二个是信息流，即感知、决策与执行流。今天的信息技术与工业结合，出现了工业人工智能、工业互 联网和工业元宇宙等新一代工业信息技术，开辟了研发工业智能系统 ...

Core Viewpoint - The article emphasizes the importance of creating an innovative ecosystem in Haidian District, leveraging policy support and practical applications to facilitate the integration of advanced medical technologies into clinical settings, ultimately driving the growth of the medical technology industry in China [17]. Group 1: Event Highlights - The Second Global Medical Technology Conference was successfully held on July 17, 2025, showcasing advancements in medical technology [1]. - The upcoming Third Global Surgical Robot Conference is scheduled for September 4-5, 2025 [18]. Group 2: Policy and Innovation Ecosystem - Haidian District is establishing a comprehensive management mechanism that includes access, operation, iteration, and exit strategies to ensure effective application of innovative medical technologies [6]. - The district is focusing on a "three-chain integration" approach to build a robust innovation ecosystem, which includes collaboration among industry, academia, and government [9][10]. Group 3: Application and Impact - The deployment of the single-port laparoscopic surgical robot by Shuri in Haidian Hospital is a significant milestone, with plans to complete at least 700 minimally invasive treatments within three years [5]. - The successful application of the Tianzhihang orthopedic surgical robot in Haidian Hospital has led to over 1,500 surgeries, validating its technological value and creating a replicable model for other hospitals [8]. Group 4: AI and Technology Integration - The deployment of AI-powered peripheral blood cell morphology analysis systems in hospitals has significantly improved diagnostic capabilities, achieving over 95% accuracy in detecting major blood diseases [13]. - The Eagle Eye AI diagnostic platform connects multiple hospitals, enabling early screening and management of chronic diseases, demonstrating the depth and breadth of medical-technology integration in Haidian [14]. Group 5: Sustainable Business Models - The innovative leasing model for high-value medical equipment in Haidian provides a replicable solution for hospitals, enhancing market access for medical technology companies [15]. - The establishment of a collaborative platform for medical and engineering integration aims to accelerate the commercialization of innovative medical technologies [16].

Core Viewpoints - The restructuring of the industrial ecosystem through anti-involution is beneficial for sustainable profitability in various sectors [2][3] - Despite significant advancements in China's technology sector, market sentiment remains pessimistic, impacting the performance of tech stocks [2][5] - The Chinese manufacturing industry plays a crucial role in the global supply chain, with trade risks currently deemed manageable [2] Industry Insights - The current excessive internal competition in industries is hindering wealth accumulation and income growth, leading to layoffs and reduced innovation investment [3] - Legislative measures against unfair competition are being implemented, marking a shift towards a more regulated market environment [3] - The AI sector is experiencing rapid growth, with significant investments from global tech giants, indicating a strong future demand for AI-related infrastructure and applications [6][12] Investment Opportunities - The focus is on sectors aligned with new productive forces, particularly in technology and pharmaceuticals, which are expected to benefit from economic recovery [5][7] - The pharmaceutical sector is seen as having long-term investment value due to demographic trends and the potential for innovative drug development [7][13] - The technology sector's valuation is becoming attractive, especially in areas like AI and consumer electronics, as the market adjusts to new pricing realities [8][10] Macro Economic Context - The macroeconomic environment remains complex, with ongoing uncertainties in trade and economic fundamentals, leading to a focus on structural opportunities in high-performing sectors [10][15] - The Chinese asset market is gradually showing value, with expectations for improved profitability and market performance in the second half of the year [15] - The automotive industry in China is on the rise, with domestic brands gaining market share and expanding into higher-end segments [17] Sector-Specific Trends - The renewable energy sector is facing challenges due to overcapacity and competition, prompting a need for regulatory changes to foster healthier market conditions [16][18] - Companies with strong growth potential and competitive advantages are being prioritized for investment, particularly in sectors like automotive parts and electronics [19]

近日，北京经济技术开发区(北京亦庄)2025年上半年经济数据"出炉"，多项指标表现亮眼：地区生产总 值(GDP)同比增长12.3%；工业总产值突破3400亿元，同比增长15.6%，高于全市平均增速9.8个百分 点；大中型企业研发费用同比增长25.3%，高于全市平均增速21.2个百分点；信息服务业营业收入、批 零业销售额、金融业两项净收入增速均超20%。数据显示，北京亦庄正以科技创新为核心引擎，加速培 育和壮大新质生产力，推动经济"含新量"持续攀升，高质量发展取得新突破。(人民财讯) ...

此外，乌鲁木齐市借助区位条件和政策优势，高水平开放不断提速。乌鲁木齐市拥有全疆最大的铁路编 组站、全国第二个国际公路运输集结中心，21条中欧(中亚)班线，通达中亚和欧洲19个国家；全国门户 枢纽—天山国际机场北航站区今年4月建成投用，年旅客、货邮吞吐能力分别达到4800万人次和55万 吨，258条航线架起的"空中丝路"连接着国内外百余座城市，与150多个国家和地区建立了经贸合作关 系。 同时，自新疆自贸试验区设立以来，乌鲁木齐市大胆试、大胆闯，263项改革试点任务已完成88.6%， 先后推出72项改革创新成果，落地78项全国全疆首单业务，通关贸易、投融资便利化水平持续提升；大 力招引企业，推动"通道经济"加快向"产业经济""落地经济"转变。乌鲁木齐片区累计新设企业1.1万家， 上半年全市外贸进出口总额增长39.5%。 乌鲁木齐市委副书记、市长牙合甫.排都拉介绍，伴随着新疆成立70周年的历史进程，乌鲁木齐也走过 了一条极不平凡的奋进之路，经济总量由1955年的1.7亿元跃升到2024年的4502亿元，建成区面积由不 足20平方公里发展到如今的545平方公里，人口规模由20多万增长到了400多万，各项事业都发生了 ...

24日下午，省委副书记、省长刘捷在杭州专题调研低空经济发展工作。他强调，要深入学习贯彻习 近平总书记重要讲话重要指示批示精神，认真落实省委十五届七次全会精神，按照"132"总体部署，深 化顶层设计、发挥特色优势、加快路径探索，着力推动低空经济安全健康发展，为加快建设创新浙江、 因地制宜发展新质生产力蓄势赋能。 杭州市萧山区钱江世纪城公共起降场，是全省首批投入使用的公共型、枢纽型起降场之一。刘捷来 到起降场，听取杭州市低空经济发展现状、低空基础设施建设等情况的介绍。他指出，低空经济是培育 和发展新质生产力的重要领域。要按照"立足当下、兼顾长远"的原则，加强顶层设计，深化技术路线研 究，构建低空经济相关制度规范和标准体系，科学合理有序布局低空基础设施，筑牢低空经济发展的安 全底座。 杭州多翼智控科技有限公司是一家长期深耕低空调度和低空智驾技术的企业。刘捷走进企业，与企 业负责人深入交流，详细了解企业发展、无人机场景应用情况。他指出，要谋划拓展低空经济应用场 景，探索新型航空器在城际交通、山区海岛短驳运输、公共服务等场景的应用。要加快关键核心技术攻 关，加强技术路线探索，推动低空产业补链强链，着力实现全产业链协同发 ...

浙大智药院小分子创新药概念验证中心和皓阳生物创新药CDMO中试基地聚焦生物医药领域创新药 物研发，探索基础研究和原创新药转化应用产业化路径，打通生物医药科技成果转化的"最后一公里"。 在两地的展厅和生产车间，姚高员详细了解科技攻关、新药研发、生产组织等情况并表示，要加强创新 资源统筹和力量组织，形成"源头创新—概念验证—中试放大—产业落地"的闭环生态，更好支撑杭州生 物医药产业发展壮大。 调研中，姚高员主持召开座谈会，听取概念验证中心、中试基地建设情况和相关企业负责人意见建 议。他强调，推进概念验证中心和中试基地建设工作是科技成果转化关键环节。要锚定打造全国首 个"概念验证之都"的目标，建好用好"1+2+33+7+N"高能级科创平台矩阵，充分发挥新型研发机构、重 点企业和高校院所的作用，建设一批产业发展急需、公共属性突出的概念验证中心和中试基地，构建衔 接研发与生产的"桥梁"，推动更多科技成果从实验室迈向产业化生产。要发挥应用场景"育苗圃"作用， 形成"科学家+企业家+投资家"协同转化机制和科技攻关、技术标准制定、成果产业化联动机制，力争 涌现更多"从0到1""从1到10""从10到100"的原创性成果、适用 ...