党的十八届三中全会提出"使市场在资源配置中起决定性作用和更好发挥政府作用"后，我国围绕"发挥 市场在资源配置中的决定性作用"出台一系列重大举措，有效推进了要素市场化配置改革的进程，土 地、劳动力、资本、技术、数据等要素市场得到加快发展，市场配置要素能力得到增强。比如探索建设 城乡统一的建设用地市场，探索实施积分落户等新型政策以推进以人为核心的城镇化，多层次资本市场 不断完善，技术创新和转移服务体系持续健全，数据市场逐步建立相应标准与制度等等。 日前，国务院印发《关于全国部分地区要素市场化配置综合改革试点实施方案的批复》，北京城市副中 心、苏南重点城市、杭甬温、合肥都市圈、福厦泉、郑州市、长株潭、粤港澳大湾区内地九市、重庆 市、成都市等10个地区成为试点。 此次改革试点选择的10个地区都是发展基础较好、经济增长支撑作用强的城市群、都市圈或者中心城 市。更重要的是，这些试点都各自在同一个管辖区域内，其中有六个属于城市群、都市圈且在同一个省 内，有利于通过搭建跨区域要素市场一体化平台，在更大范围内协同配置要素，探索推动要素跨区域自 由流动的机制与经验，对于纵深推进全国统一大市场建设、落实国家重大区域战略和区域协调发 ...

新华财经北京9月13日电（记者魏玉坤）我国要素市场化配置改革迎来重要进展：国务院日前印发《关 于全国部分地区要素市场化配置综合改革试点实施方案的批复》，部署在10个地区开展要素市场化配置 综合改革试点。业内专家分析，这是纵深推进全国统一大市场建设的重要举措，将为推动高质量发展提 供强劲动力。 郭丽岩表示，推动实施方案落地，要推动有效市场和有为政府更好结合，通过系统性、整体性、协同性 的制度改革和政策创新，充分激发各类要素的活力，使其高效组合、顺畅流动，最终汇聚成推动中国经 "10个试点地区覆盖京津冀、长三角、粤港澳大湾区、成渝等重大战略区域，兼具东、中、西部地区代 表性，既有利于破解区域要素流动共性难题，又有利于疏通要素在城市群内部、跨区域间的流动堵点， 为加快建设全国统一大市场、做强国内大循环提供坚实支撑。"徐善长说。 细看实施方案，这次要素市场化配置综合改革试点，紧扣推进协同创新、集约高效配置、引导合理流动 等主要目标，既坚持问题导向，又突出系统集成，具有鲜明的时代特点。 精准施策，做好"一把钥匙开一把锁"。10个试点地区从实际出发，瞄准要素领域的主要堵点，着力探索 相关改革举措。例如，在技术要素方面，重 ...

向改革要活力，通过改革找动力，这是40多年中国经济高速发展的最大经验，切中要害的改革，往往牵 一发而动全身，在方方面面起到功效，要素市场化就是这样一个新的改革方向。 近日，国务院批复了全国部分地区要素市场化配置综合改革试点实施方案。说是试点，但是试点面非常 之广，北京城市副中心、苏南重点城市、杭甬温、合肥都市圈、福厦泉、郑州市、长株潭、粤港澳大湾 区内地九市、重庆市、成都市，这10个地区基本上涵盖了中国经济发展最快的地区，从而也是市场化改 革的核心地区。 这只能说明，要素市场化配置改革，既有信心，也有决心。应该说，在当前中国经济的大格局之下，要 素市场化配置改革是推动经济高质量发展的必然选择，通过优化土地、人力、资本、技术、数据等要素 的配置，提高全要素的利用效率，激发市场活力，为经济发展注入新动力。 实话说，要素市场化改革是一个新概念，一个经济学上常用的概念，并不一定为大众所熟悉，但是，如 果我们根据这份实施方案的细节去剖析，就会容易理解得多。 所谓要素市场化，就是要让土地、人力、资本、技术、数据这些基本要素流动起来，尤其是要打破地域 限制，在一个全国统一大市场中，寻找利用效率最高的地方。简单地说，就是人要 ...

深化要素市场化配置改革，是建设全国统一大市场的关键环节，是构建高水平社会主义市场经济体 制的重要内容。近期，国务院批准在10个地区开展要素市场化配置综合改革试点。9月11日下午，有关 部门和地区负责同志出席国务院政策例行吹风会，介绍相关情况。 试点地区经济总量合计超全国1/4，基础好、牵引性强 改革开放以来，我国绝大部分商品和服务都已实现市场定价、自由流动，但要素市场体系建设相对 滞后，发育还不充分，不利于发挥市场在资源配置中的决定性作用。 "此次改革试点对于进一步完善要素市场体系和市场机制，促进要素资源跨区域、跨领域顺畅流 动，实现资源配置效率最优化、效益最大化具有重要意义。"国家发展改革委副主任李春临分析，发挥 试点地区的先行先试和示范探路作用，将为要素市场化改革探索可复制可推广的经验，改革试点也将加 强对经济发展优势地区的要素保障，激发经济发展内生动力和创新活力。他从4方面介绍了此次改革试 点的亮点。 试点地区代表性强。北京城市副中心、江苏苏南重点城市、浙江杭甬温、安徽合肥都市圈、福建福 厦泉、河南郑州市、湖南长株潭、广东粤港澳大湾区内地九市、重庆市、四川成都市，10个试点地区发 展基础较好，2024年 ...

【博时市场点评9月12日】沪深两市调整，创业板跌1.09% 每日观点 今日沪深三大指数温和调整，创业板跌1.09%，两市成交放量至2.54万亿。昨日两融余额继续放量近150 亿，杠杆资金突破前高后维持流入。美国公布8月最新通胀数据。其中CPI同比上升2.9%，环比上升 0.4%，环比增速超市场预期；核心CPI同比上升3.1%，环比上升0.3%。CPI同比与核心CPI均高于历史季 节性，8月的通胀环比走高与部分关税豁免到期有关，分项来看，食品和能源价格导致整体CPI走高， 关税影响在继续传导，但通胀数据暂时不影响美联储通过降息应对就业偏弱，目前市场预期美联储9月 降息25个基点的概率超九成，预期今年降息3次。当前通胀及就业数据引导的市场预期是对于美国经济 浅衰退的预防式降息，或将推动美国制造业企稳并周期向上，但幅度取决于降息的力度。 消息面 国务院日前印发《关于全国部分地区要素市场化配置综合改革试点实施方案的批复》，同意自即日起2 年内开展北京城市副中心、苏南重点城市、杭甬温、合肥都市圈、福厦泉、郑州市、长株潭、粤港澳大 湾区内地九市、重庆市、成都市等10个要素市场化配置综合改革试点。 简评：深化要素市场化配置 ...

9月11日，要素市场化配置综合改革试点方案对外发布。本次改革是构建高水平社会主义市场经济体制的重要抓手，有助于加快建 设全国统一大市场、服务新发展格局，更能促进先进要素向关键领域汇聚，加快发展新质生产力。 国家发展改革委副主任李春临介绍，近期，经国务院常务会议审议通过，国务院批准在10个地区开展要素市场化配置综合改革试 点。通过改革试点为地方赋能，加强对经济发展优势地区的要素保障，激发经济发展和创新活力，打造全国高质量发展的重要动力 源。 要素市场化改革试点地区包括北京城市副中心、江苏苏南重点城市、浙江杭甬温、安徽合肥都市圈、福建福厦泉、河南郑州市、湖 南长株潭、粤港澳大湾区内地九市、重庆市、四川成都市等10个基础好、带动力强的地区。在各要素领域部署了一批具有探索性的 改革任务，开展为期2年左右的试点，在2027年完成相关试点任务。 国家发展改革委体改司司长王任飞表示，要素改革涉及领域广，不同要素的市场化程度差异较大，面临的矛盾和问题不同，很难做 到"齐步走"。所以采取在10个地区开展试点方式推进。通过试点地区大胆创新，开展差别化改革探索，加快形成全国可复制、可推 广的路径模式。 国家发展改革委宏观经济研究院 ...

郑州中央商务区。 河南日报社全媒体记者 宋亚猛 摄 本报讯（河南日报社全媒体记者 聂辉）9月11日下午，国务院新闻办公室在北京举行国务院政策例行吹风 会，介绍全国部分地区实施要素市场化配置综合改革试点有关情况。国家发展改革委副主任李春临介绍，国 务院批准开展要素市场化配置综合改革试点的10个地区均是发展基础较好、经济增长支撑作用强的城市群、 都市圈或者中心城市，改革基础条件较好，具有较强代表性。 记者在吹风会现场了解到， 为深入贯彻党中央、国务院关于深化要素市场化改革、构建更加完善的要素市场 化配置体制机制有关部署，近期，经国务院常务会议审议通过，批准在10个地区开展要素市场化配置综合改 革试点，试点实施方案已经全文向社会公布。 在吹风会上，李春临表示，深化要素市场化配置改革，是建设全国统一大市场的关键环节，是构建高水平社 会主义市场经济体制的重要内容。 改革开放以来，我国绝大部分商品和服务都已实现了市场定价、自由流动，但要素市场体系建设相对滞后， 发育还不充分，不利于发挥市场在资源配置中的决定性作用。 李春临介绍，此次改革试点是深入推动要素市场化配置改革的重要举措，具有试点地区范围广、要素领域覆 盖全、试点 ...

中国政府网9月11日消息，国务院日前印发《关于全国部分地区要素市场化配置综合改革试点实施方案 的批复》，同意自即日起2年内开展北京城市副中心、苏南重点城市、杭甬温、合肥都市圈等10个要素 市场化配置综合改革试点，原则同意有关实施方案，并全文印发向社会公布。 原标题：国务院批复同意10个地区开展要素市场化配置综合改革试点 批复要求，方案实施要坚持以习近平新时代中国特色社会主义思想为指导，深入贯彻党的二十大和二十 届二中、三中全会精神，完整准确全面贯彻新发展理念，以综合改革试点为牵引，深入推进要素市场化 配置改革，完善要素市场制度和规则，着力破除阻碍要素自由流动和高效配置的体制机制障碍，保证各 种所有制经济依法平等使用生产要素、公平参与市场竞争、同等受到法律保护，推动要素质量逐步提 高、生产要素畅通流动、各类资源高效配置、市场潜力充分释放，为促进新质生产力发展、纵深推进全 国统一大市场建设、构建高水平社会主义市场经济体制提供坚强支撑。 9月11日，国新办举行国务院政策例行吹风会，介绍全国部分地区实施要素市场化配置综合改革试点有 关情况。 国家发展改革委副主任李春临在会上表示，下一步，国家发展改革委将会同试点地区和 ...

Report Investment Rating - The report does not provide an investment rating for the industry. Core View - The stock index futures are expected to fluctuate with a slight upward trend, and investors are advised not to chase the market excessively [1]. Summary by Relevant Catalogs 1. Stock Index Futures Data Tracking - On September 11, all the current-month contracts of the four major stock index futures rose. IF rose 2.64%, IH rose 1.56%, IC rose 3.44%, and IM rose 2.94% [1]. - On the trading day, the total trading volume of stock index futures rebounded, indicating an increase in investors' trading enthusiasm. Specifically, the total trading volume of IF increased by 38,933 lots, IH by 17,746 lots, IC by 61,198 lots, and IM by 43,013 lots. In terms of positions, the total positions of IF increased by 6,664 lots, IH by 8,511 lots, IC by 18,948 lots, and IM by 4,629 lots [2]. 2. Basis and Position Changes of Futures Contracts - The report provides the basis data of IF, IH, IC, and IM futures contracts, as well as the position changes of the top 20 member futures companies [1][5]. 3. Trend Intensity and Key Drivers - The trend intensity of IF and IH is 1, and that of IC and IM is also 1. The range of trend intensity is an integer within the [-2, 2] interval, with -2 indicating the most bearish and 2 indicating the most bullish [6]. - The State Council has approved a two - year comprehensive reform pilot of factor market allocation in 10 regions, including the Beijing Sub - center and the Guangdong - Hong Kong - Macao Greater Bay Area. The National Development and Reform Commission stated that this is a key step in building a unified national market, and the pilot is expected to be completed by 2027 [6][7]. 4. Market Performance - The three major US stock indexes reached new highs due to the moderate US CPI and a surge in jobless claims. Chinese concept stocks rebounded strongly. In the A - share market, the Shanghai Composite Index rose 1.65% to 3,875.31 points, the Shenzhen Component Index rose 3.36%, and the ChiNext Index rose 5.15%. The trading volume of A - shares reached 2.46 trillion yuan, up from 2 trillion yuan the previous day [7].

1. Report Industry Investment Rating No relevant content provided. 2. Core Viewpoints of the Report - The report comprehensively presents macro - economic data, commodity investment information, financial news, and stock market trends, offering insights into the economic and market conditions across various sectors [1][2][14][32]. - Different institutions have diverse outlooks on the bond market. Some believe that after continuous adjustments, bond risks are released, and there may be a more optimistic outlook, while others focus on factors such as fiscal policy and inflation in relation to the bond market [28][29]. 3. Summary by Directory 3.1 Macro Data Quick View - GDP growth in Q2 2025 was 5.2% year - on - year, slightly lower than the previous quarter's 5.4% but higher than the same period last year [1]. - Manufacturing PMI in August 2025 was 49.4%, a slight increase from the previous month, while non - manufacturing PMI was 50.3%, also up from the previous month [1]. - In July 2025, the year - on - year growth rates of M0, M1, and M2 were 11.8%, 5.6%, and 8.8% respectively, with M1 showing a significant year - on - year improvement [1]. - In August 2025, CPI was - 0.4% year - on - year, and PPI was - 2.9% year - on - year [1]. 3.2 Commodity Investment Reference 3.2.1 Comprehensive - The Shanghai American Chamber of Commerce's report shows that the Chinese government's market - opening efforts have improved the business environment, with 71% of surveyed enterprises profitable in 2024, up from 66% in 2023 [2]. - The proportion of US companies choosing the US as an investment transfer destination decreased by 4 percentage points to 18% last year, indicating that the "manufacturing回流" policy had limited effect [2]. - China will take necessary measures to safeguard its legitimate rights and interests in response to Mexico's potential tariff hikes [2]. - The US canceled tariffs on most Brazilian pulp exports on September 5 [2]. - US economic data shows that the 8 - month CPI was in line with expectations, and the number of initial jobless claims reached a new high since October 2021, leading traders to expect three Fed rate cuts by the end of the year [3]. 3.2.2 Metals - International precious metal futures closed mixed. Market expectations of a Fed rate cut and a decline in confidence in US dollar assets are driving factors [4]. - Gold has become the top reserve asset for global central banks, with its proportion in reserves exceeding US Treasuries for the first time since 1996 [5]. - In September, precious metal prices reached new highs both internationally and domestically, attracting over 100 billion yuan in funds to the domestic gold futures market [5]. - Some online gold repurchase businesses have been suspended, possibly due to regulatory and risk - control reasons [5]. - Barrick Gold plans to sell a Canadian gold mine for up to $1.1 billion [5]. - In July, Chile's state - owned copper company's copper production increased by 6.4% year - on - year, while the production of the Collahuasi mine decreased by 27.2% [6]. 3.2.3 Coal, Coke, Steel, and Minerals - Heavy rain in Indonesia has affected coal production and transportation, potentially narrowing the price gap between domestic and imported coal. September's coal imports are expected to remain above 40 million tons [8]. - Vale received an operating license for a 20 - million - ton iron ore project in Brazil [8]. 3.2.4 Energy and Chemicals - Ningde Times plans to resume production at the Jiaxiaowo lithium mine, aiming for full - load production and cost - reduction measures [9]. - International oil prices fell due to increased supply and weak demand. OPEC + production increased in August, and US inventories reached a new high [9]. - The IEA expects global oil supply to grow faster than expected this year and a potential surplus in 2026 [9]. - Russia's ESPO crude oil exports from the Kozmino port will decrease from 4.2 million tons in August to 4 million tons in September [11]. - The European Central Bank predicts that the oil price in 2025 will be $69.7 per barrel [12]. 3.2.5 Agricultural Products - India's sugar production in 2025 - 26 is estimated to be 34.9 million tons [13]. - In August, US coffee imports from Brazil decreased significantly, while Germany became the largest overseas market for Brazilian coffee [13]. - Brazil's soybean production in the 2025/26 season is expected to reach 180 million tons, with 19% of the soybeans pre - sold [13]. 3.3 Financial News Compilation 3.3.1 Open Market - On September 11, the central bank conducted 292 billion yuan of 7 - day reverse repurchase operations, resulting in a net injection of 79.4 billion yuan [14]. 3.3.2 Key News - The market expects the central bank to restart treasury bond trading operations, with a more favorable view of the fourth - quarter restart [15]. - The US economic data has led traders to expect three Fed rate cuts by the end of the year [15]. - Gold has become the top reserve asset for global central banks [16]. - China will conduct a two - year factor market reform pilot in 10 regions [16]. - China will take measures to safeguard its rights and interests in response to Mexico's potential tariff hikes [16]. - The government will implement policies to stabilize foreign trade [17]. - 27 provinces plan to issue about 777.1 billion yuan of local bonds in September, with some expanding the use of special bonds to government investment funds [17]. - The North - Exchange convertible bond market opened this week, with light trading volume [17]. - Most bank wealth management companies achieved net inflows in August, with a total increase of about 285.7 billion yuan in management scale [18]. - The average 7 - day annualized yield of money market funds is approaching 1%, with 80 products having yields below 1% [18]. - The reform and restructuring of rural banks are accelerating [18]. - Bank wealth management products are attracting deposits, with 12 of the top 14 wealth management companies achieving net growth in August [19]. - The bond market has experienced a decline, mainly due to institutional behavior and low bond yields [19]. - The European Central Bank kept interest rates unchanged, indicating that the inflation - reduction process is over [20]. - The US fiscal deficit in 2025 is higher than the same period in 2024 [20]. - There are various bond - related events, including debt restructuring, cancellation of bond issuance, and changes in corporate management [20]. - Some companies' credit ratings have been adjusted [21]. 3.3.3 Bond Market Summary - The inter - bank bond market showed a mixed trend, with short - and medium - term bonds strengthening and 30 - year bonds weakening [22]. - The exchange - traded bond market had some bonds rising and others falling [22]. - The convertible bond index rose, with some bonds having significant gains and losses [22]. - Money market interest rates showed different trends, with some rising and others falling [23]. - Bond issuance and bidding results showed different yields and multiples [24]. - European and US bond yields had different changes [25]. 3.3.4 Foreign Exchange Market Express - The on - shore RMB against the US dollar closed lower, while the RMB central parity rate against the US dollar rose [27]. - The US dollar index fell, and most non - US currencies rose [27]. 3.3.5 Research Report Highlights - CITIC Securities believes that bond risks have been released, and the 10 - year treasury bond yield may return to 1.6% [28]. - CICC Fixed Income expects the low - inflation pattern to continue in the short term and suggests seizing bond trading opportunities [28]. - Huatai Fixed Income believes that the bond market adjustment is due to institutional behavior and suggests looking for opportunities after October [29]. - Changjiang Fixed Income expects the social financing growth rate to peak and the bond market to remain weakly volatile [30]. 3.4 Stock Market Key News - A - shares rose significantly, with over 4200 stocks rising, and the ChiNext Index returned to 3000 points [32]. - The Hong Kong Hang Seng Index fell, with pharmaceutical stocks weak and chip and non - ferrous sectors performing well [33]. - The continuous rise of the ChiNext Index is related to its heavy - weight stocks, especially in the AI + direction [33].