Group 1: Support for Private Investment - The State Council emphasizes the importance of private investment in stabilizing employment and the economy, proposing practical measures to enhance private investment vitality and development [1] - Focus areas for private investment include new quality productivity, emerging service industries, and new infrastructure, which are characterized by high marketization, rapid technological iteration, and strong ties to people's livelihoods [2][3] - The government aims to create a fair competitive market environment by removing hidden barriers to private investment and strengthening innovation and financing support [1][3] Group 2: New Quality Productivity and Emerging Service Industries - New quality productivity is centered around technological innovation, including future industries like artificial intelligence and quantum technology, which require collaboration between private and public capital to manage risks and enhance efficiency [2] - Emerging service industries such as health care, digital consumption, and cultural creativity are expected to play a significant role in job creation and improving livelihoods, with private capital being agile in responding to diverse consumer needs [2] Group 3: New Infrastructure Investment - New infrastructure investments are characterized by large scales, long return cycles, and technology intensity, where private capital can introduce advanced management practices and flexible financial tools to enhance efficiency and risk diversification [3] - The government has been optimizing the policy environment to facilitate private investment, including relaxing market access and innovating financing models [3] Group 4: Overseas Comprehensive Service System - The meeting highlights the need to improve the overseas comprehensive service system to support Chinese enterprises in international cooperation and competition, addressing the challenges posed by geopolitical shifts and trade protectionism [4][5] - A comprehensive service support system is deemed necessary to meet the real needs of enterprises going abroad, enhancing their international competitiveness and supporting high-quality economic development [5][6] - The proposed system will integrate resources across legal, financial, and logistical services, establishing service platforms and overseas service stations to better support enterprises in their international endeavors [6]

国家发展改革委投资研究所副所长盛磊在接受《证券日报》记者采访时表示，民间投资是扩大有效投资的重要组成部分， 会议点题民间投资，针对性强、目标明确，将有效提振市场信心，进一步促进民间投资与民营经济健康发展。 今年以来，从中央到地方，各地各部门齐心协力给予民间投资强有力的支持。 本报记者 寇佳丽 自2025年5月20日起施行的《中华人民共和国民营经济促进法》提出，"支持民营经济组织在战略性新兴产业、未来产业等 领域投资和创业，鼓励开展传统产业技术改造和转型升级，参与现代化基础设施投资建设"。6月20日，国家发展改革委官网发 布消息显示，"国家发展改革委进一步加大工作力度，近日组织集中向民间资本新推介项目3200余个、涉及项目总投资超3万亿 元"。 民间投资是稳增长、调结构、促就业的重要支撑力量。国务院总理李强9月12日主持召开国务院常务会议（以下简称"会 议"），部署进一步促进民间投资发展的若干措施。 从地方层面看，4月份，云南省发展改革委依托省级重大项目清单，建立2025年云南省重点民间投资项目库，共纳入382个 项目；5月份，江苏省发展改革委副主任林康在新闻发布会上明确表示，"加大向民间资本推介优质项目的力度 ...

Group 1 - The State Council emphasizes the importance of private investment in stabilizing employment and the economy, proposing practical measures to stimulate private investment activity [1] - Private investment growth turned negative for the first time in 2023, with a cumulative growth rate of -0.6% from January to June and further declining to -1.5% by July [1] - Excluding real estate development investment, private project investment showed a year-on-year growth of 3.9% from January to July, with notable increases in accommodation and catering (19.6%), infrastructure (8.8%), and cultural, sports, and entertainment sectors (8.1%) [1] Group 2 - The National Development and Reform Commission is committed to expanding domestic demand and enhancing private investment through policy measures, including setting minimum private investment ratios for major projects [2] - Experts suggest that stabilizing the real estate market is crucial for boosting private investment, advocating for relaxed purchase restrictions and increased efforts in affordable housing and urban renewal [2] - There is a call for optimizing the business environment by removing investment barriers and enhancing opportunities for private capital in sectors like healthcare, education, and new infrastructure [3] Group 3 - The need to expand effective demand and investment is highlighted, with a focus on government investment in key areas to stimulate social investment [3] - Accelerating the development of the service industry is essential, with recommendations to reduce unnecessary pre-approval conditions and encourage social capital participation [3] - The promotion of a "negative list" management approach is suggested to attract social capital by eliminating discriminatory policies in healthcare, elderly care, and education sectors [3]

Group 1: Flood Prevention and Disaster Relief - The meeting emphasized the importance of maintaining vigilance in flood prevention and disaster relief, especially after extreme rainfall events in certain regions [3] - It was noted that while the critical flood prevention period has passed, risks from floods and typhoons still exist, necessitating ongoing efforts in disaster response and recovery [3] - The focus will be on enhancing flood prevention capabilities in northern regions through improved infrastructure and emergency response systems [3] Group 2: Promotion of Private Investment - The meeting highlighted the crucial role of private investment in stabilizing employment and the economy, with a call for practical measures to address key concerns of enterprises [4] - There is a push to expand the scope of private investment, particularly in new productive capacities, emerging service industries, and new infrastructure [4] - The government aims to create a fair competitive market environment by removing barriers to private investment and enhancing support for small and medium-sized enterprises [4] Group 3: Overseas Comprehensive Service System - The meeting discussed the need to strengthen the overseas comprehensive service system to support enterprises in international cooperation and competition [4] - It was proposed to enhance collaboration across legal, financial, and logistical services, and to establish service platforms and overseas service stations in key countries [4] Group 4: Biomedical Technology Development - The meeting underscored the importance of promoting innovation in biomedical technology and accelerating the application of research outcomes to enhance the biopharmaceutical industry [5] - There is a commitment to balancing development and safety by regulating clinical research and ensuring the quality and safety of clinical applications [5]

稳经济大盘，民间投资的重要性再度被强调。 9月12日，国务院常务会议指出，要实施一批务实举措，进一步激发民间投资活力、促进民间投资发 展。 相关措施直指企业关切的突出问题，从扩大准入、打通堵点、强化保障等多方面入手，旨在让民营企业 敢投资、有回报。 民间投资是稳增长、调结构、促就业的重要支撑力量。 2025年以来，民间项目投资整体平稳增长。从中央到地方，对民营经济的相关支持力度进一步加大。 在强化保障上，会议在招投标、政府采购、预算内投资打出组合拳。 会议提出，要严格落实招标投标领域相关制度规定，保障中小企业政府采购预留份额，加大中央预算内 投资等对民间投资项目的支持力度。 这表明，民间投资项目将获得更多中央预算内投资的支持，中小企业将在政府采购中获得更多份额。招 投标领域的制度规定将进一步落实，确保公平竞争环境。 2024年8月，国家发展改革委等四部门已专门印发文件，决定建立以统计数据为基础，以重点项目为抓 手，以政策为支撑的促进民间投资资金和要素保障工作机制。 国家统计局数据显示，2025年上半年民间投资在制造业和基础设施方面分别增长6.7%和9.5%。不难看 出，制造业和基础设施领域是民间投资的主战场。 ...

Group 1 - The core viewpoint emphasizes the importance of private investment as a key driver for stabilizing economic growth and employment [2][3] - The State Council meeting led by Premier Li Qiang on September 12 outlined measures to promote private investment, focusing on addressing enterprise concerns and expanding investment opportunities [3][4] - The National Development and Reform Commission (NDRC) plans to introduce policies to facilitate private investment in major national projects, including minimum shareholding requirements for private capital in significant sectors like railways and nuclear power [3][4] Group 2 - Private investment in China, excluding real estate, grew by 3.9% in the first seven months of this year, with notable increases in sectors such as accommodation and catering (19.6%), infrastructure (8.8%), and culture, sports, and entertainment (8.1%) [4] - The NDRC's project promotion platform currently showcases 12,128 projects with a total investment of 10.26 trillion yuan, covering both traditional sectors and emerging industries like artificial intelligence and low-altitude economy [4] - Recent trends indicate a strong interest from private capital in new and future industries, with a focus on sectors such as new infrastructure, artificial intelligence, and quantum information [5] Group 3 - The government aims to create a fair competitive market environment by eliminating hidden barriers to private investment and enhancing innovation and financing support [7] - The release of the "Negative List for Market Access (2025 Edition)" aims to simplify market entry for private enterprises, with a focus on reducing restrictions and enhancing transparency [7][8] - Ongoing efforts to clear market access barriers are intended to establish a stable and predictable development environment for private enterprises, encouraging them to invest in broader fields [8]

Group 1 - The core viewpoint emphasizes the importance of private investment in stabilizing growth, adjusting structure, and promoting employment, with recent government meetings signaling a commitment to address key issues faced by enterprises [1] - Data shows that private project investment (excluding real estate) in China grew by 3.9% year-on-year in the first seven months of this year, indicating a slowdown compared to the same period last year [1] - There is a need for practical support measures for private enterprises to boost their confidence, including creating a fair competitive market environment and improving service systems [1] Group 2 - Many local governments have introduced policies to support private enterprises, but some companies still feel a lack of effective policy support, highlighting the need for improved policy precision and operability [2] - Innovation is identified as the primary driving force for development, with private enterprises facing significant pressure to innovate, leading to a reluctance to engage in innovative practices [2] - Continuous efforts are required to address "involution" competition, which undermines enterprise confidence and has negative implications for economic development [3] Group 3 - Private investment is a major component of fixed asset investment and serves as an important indicator of economic vitality, relying on a favorable external environment and the resilience of private enterprises [3] - The government encourages private enterprises to maintain confidence and determination in the face of challenges, aiming to enhance quality, efficiency, and core competitiveness [3]

Group 1 - The State Council, led by Premier Li Qiang, emphasized the importance of private investment for stabilizing employment and the economy, proposing practical measures to enhance private investment vitality and support investment in new productivity, emerging services, and new infrastructure [1] - The Ministry of Finance reported that as of the end of 2024, China's total government debt is projected to reach 92.6 trillion yuan, with a debt-to-GDP ratio of 68.7%, indicating that the debt level is within a reasonable range and risks are controllable [1] - The People's Bank of China reported that the weighted average interest rate for new corporate loans in August was approximately 3.1%, a slight decrease from the previous month and down about 40 basis points year-on-year, indicating a favorable lending environment [1] Group 2 - The Ministry of Industry and Information Technology plans to solicit public opinions on standards for intelligent connected vehicles' combined driving assistance systems, aiming for detailed management and classification of these systems by the end of the year [1] - The Ministry of Commerce announced a meeting between Chinese and British trade officials to discuss trade, investment, and cooperation in various sectors, aiming to create a fair and non-discriminatory business environment [1] - The National Internet Information Office is seeking public feedback on regulations for establishing personal information protection supervisory committees by large online platforms, emphasizing compliance and protection of sensitive personal information [1] Group 3 - Several companies announced significant transactions, including *ST Dongtong potentially facing forced delisting due to major violations, and Tianhua New Energy planning to acquire 75% of Suzhou Tianhua Times for 12.54 billion yuan [3] - A total of 46 billion yuan is planned to be raised through a private placement by Tuojing Technology for high-end semiconductor equipment projects [3] - Shanghai Construction's chairman resigned due to job relocation, indicating potential changes in company leadership [3]

Group 1 - The State Council meeting emphasized the need to promote private investment by addressing key concerns of enterprises, expanding access, and enhancing support measures [1] - The meeting highlighted the importance of private investment in driving economic growth, stabilizing overall investment, and expanding social employment, noting that private investment accounts for over half of total investment in China [2] - The meeting discussed the establishment of a comprehensive overseas service system to support Chinese enterprises in international cooperation and competition [1][4] Group 2 - Measures to broaden the scope of private investment include supporting investments in new productive forces, emerging service industries, and new infrastructure [2] - The meeting called for the creation of a fair competitive market environment by removing hidden barriers to private investment and enhancing innovation and financing support [2] - The meeting also focused on fostering a group of professional service institutions with strong cross-border service capabilities to enhance the overseas service system [4]

Group 1: Flood Prevention and Disaster Relief - The State Council emphasizes the importance of maintaining vigilance against flood and typhoon risks, even after the peak flood season has passed, highlighting the need for effective disaster relief and recovery efforts [1] - There is a focus on enhancing the flood prevention and disaster reduction capabilities in northern regions through improved infrastructure such as flood control projects, urban drainage systems, and emergency rescue facilities [1] Group 2: Promotion of Private Investment - The meeting underscores the critical role of private investment in stabilizing employment and the economy, proposing practical measures to address key concerns of enterprises and stimulate private investment [2] - Initiatives include expanding access for private investment in new productive capacities, emerging service industries, and new infrastructure, while ensuring fair competition and removing barriers to private investment [2] Group 3: Biomedical Technology Development - The meeting calls for the promotion of innovation in biomedical technology, accelerating research and application of results to enhance the quality and safety of clinical applications [3] - There is an emphasis on balancing development and safety, with a focus on legal regulation of clinical research to mitigate risks and improve public health outcomes [3]