Core Viewpoint - The year 2025 presents two contrasting scenarios for Latin America: a resurgence of protectionism and a more autonomous, confident "Global South" cooperation, with significant developments in trade and investment between China and Latin American countries [1] Group 1: Policy and Framework - The China-Latin America Cooperation Forum, established in 2014, has evolved from "vision and consensus" to "mechanism and rules," enhancing stability and predictability in cooperation [2] - In December 2025, China released its third policy document on Latin America, outlining five major cooperation projects and establishing a framework for free trade agreements with several countries [3][4] Group 2: Trade and Logistics - The opening of the Qianhai Port in Peru in November 2024 has significantly reduced shipping times from Peru to Asia from approximately 35 days to around 23 days, lowering logistics costs by over 20% [6] - By December 2025, the cumulative import and export value through the Qianhai to Shanghai direct shipping route reached 5.57 billion yuan, with a total of 205,000 tons of goods traded [6] Group 3: Industrial Cooperation - Chinese companies are increasingly focusing on local production and supply chains in Latin America, with significant investments in the automotive sector, including a factory in Brazil with a total investment of approximately 7.01 billion yuan [7] - In the consumer electronics market, Chinese smartphone brands have established production lines in Brazil, achieving a monthly peak capacity of 100,000 units [8] Group 4: Energy and Infrastructure - Chinese investments in renewable energy projects, such as solar power in Brazil, are providing a sustainable energy foundation for local manufacturing, with a total installed capacity of 425 megawatts [9] Group 5: Financial and Multilateral Cooperation - In May 2025, China announced a credit line of 66 billion yuan for Latin American countries, emphasizing the importance of diversifying financial tools to enhance resilience against external shocks [10] - The cooperation agenda has expanded beyond trade to include finance, technology, and sustainable development, as seen in the discussions at the BRICS summit in July 2025 [11] Group 6: Green Transition and Sustainable Development - The collaboration on green technology and sustainable practices is becoming increasingly important, with projects like the electric bus system in Copiapó, Chile, showcasing the commitment to low-carbon transitions [11][12] Group 7: Future Outlook - The year 2025 marks the beginning of a new "golden decade" for China-Latin America cooperation, emphasizing the deepening of economic ties and cultural exchanges as a response to global uncertainties [13]

"2020年'双碳'目标提出以后，再生金属走到了聚光灯下。"中国有色金属工业协会再生金属分会副秘书 长刘龙在12月初由大宗商品咨询服务商上海钢联主办的一场再生铝论坛上表示，中国再生金属产业正在 从此前的野蛮生长逐渐迈入规范化发展。 一名资深行业人士亦对智通财经（www.thepaper.cn）记者表示，再生铝相较于原铝有着显著的降碳效 应，使得其成为当前中国铝工业降低碳排放的一条关键路径。同时，资源循环利用是一个节约型社会的 应有标志，提高废铝利用率也是保障铝工业原料供应的途径之一。"此外，在中国确立了电解铝产能'天 花板'的情况下，再生铝的发展也有助于满足未来铝产品的增长需求。" 不过，据智通财经记者采访以及从业内了解发现，尽管再生铝的价值已被充分认识，但当前材料回收及 溯源、保级高值利用、溢价买单等诸多问题仍亟需有效解决，与之对应的也就是原料混杂、技术壁垒高 企、经济性脆弱的残酷现实。 国内最大的再生铸造铝合金生产企业之一立中集团副总裁、立中合金集团总裁郭军辉对智通财经记者表 示，再生铝行业当前正处于从"成本驱动"向"绿色价值+资源安全"双轮驱动转型的关键阶段，其实现商 业化价值的逻辑日益清晰，但同时也面 ...

"十四五"是我国能源转型加速推进的五年，也是中国海油（600938）向深蓝逐梦、为国家能源安全筑基的五年。 从渤海之滨到南海之渊，从常规油气田到深水非常规领域，作为我国海洋油气开发的主力军，中国海油以科技创 新为翼、以区域协同为纲、以绿色转型为向，在5年时间里实现了油气产量的跨越式增长、勘探领域的多点突破、 技术装备的自主可控，用一串串坚实的数据、一项项重大成果，书写了国有央企在保障国家能源安全、服务区域 发展大局中的责任与担当。 "十四五"收官之际，回望中国海油这五年的发展历程，是一部向深蓝进军、向技术攻坚、向绿色转型的奋斗史。 产量的跨越式增长、勘探的多点突破、技术的自主可控、区域的精准赋能，每一项成就都凝聚着海油人的智慧与 汗水，每一步跨越都彰显着国有央企的责任与担当。 12月21日，中国海油对外宣布，我国海上最大油田——渤海油田2025年累计生产油气当量突破4000万吨，创历史 新高。图为中国海油秦皇岛32-6油田。 2025年8月，中国海油对外宣布，公司旗下所属中海石油大榭石化炼化一体化项目在浙江宁波全面建成，对推动国 家重质油高效转化、提升高端化工材料自主可控能力有着重要意义。 产量跃升：稳油增气 ...

"十四五"是我国能源转型加速推进的五年，也是中国海油向深蓝逐梦、为国家能源安全筑基的五年。从渤海之滨 到南海之渊，从常规油气田到深水非常规领域，作为我国海洋油气开发的主力军，中国海油以科技创新为翼、以 区域协同为纲、以绿色转型为向，在5年时间里实现了油气产量的跨越式增长、勘探领域的多点突破、技术装备的 自主可控，用一串串坚实的数据、一项项重大成果，书写了国有央企在保障国家能源安全、服务区域发展大局中 的责任与担当。 "十四五"收官之际，回望中国海油这五年的发展历程，是一部向深蓝进军、向技术攻坚、向绿色转型的奋斗史。 产量的跨越式增长、勘探的多点突破、技术的自主可控、区域的精准赋能，每一项成就都凝聚着海油人的智慧与 汗水，每一步跨越都彰显着国有央企的责任与担当。 12月21日，中国海油对外宣布，我国海上最大油田——渤海油田2025年累计生产油气当量突破4000万吨，创历史 新高。图为中国海油秦皇岛32-6油田。 2025年8月，中国海油对外宣布，公司旗下所属中海石油大榭石化炼化一体化项目在浙江宁波全面建成，对推 动国家重质油高效转化、提升高端化工材料自主可控能力有着重要意义。 产量跃升：稳油增气筑牢能源安全压舱 ...

Core Viewpoint - The Inner Mongolia Zhuoerqi is transitioning from a coal-dominated economy to a diversified industrial structure driven by five major industry chains: coal-based, ash-based, soil-based, silicon-based, and green-based, showcasing a new model of production power transformation [1] Group 1: Coal-Based Industry Innovations - Zhuoerqi's coal-based industry is highlighted by the world's first 10,000-ton CO2-to-aromatic hydrocarbons project, set to commence production this year, which is part of a significant technological initiative in Inner Mongolia [1][4] - The project aims to address China's reliance on imported aromatic hydrocarbons and reduce carbon emissions from coal chemical processes, with the potential to increase CO2 conversion rates from 10% to 40% and aromatic selectivity exceeding 80% [5] - The collaboration between government, enterprises, and academic institutions has been crucial in overcoming technical challenges and facilitating the project's successful implementation [5][6] Group 2: Green Mining and Smart Technology - The transformation of coal mining in Zhuoerqi includes the establishment of green mining practices, with 200,000 trees planted in reclaimed areas and the integration of distributed photovoltaic projects [8] - The Dafenpu coal mine has adopted smart technology, achieving full coverage of 4G and 5G networks, enabling remote control and unmanned operations, thus enhancing safety and efficiency [9] Group 3: High-Value Solid Waste Utilization - The region is successfully converting industrial waste such as coal gangue and slag into high-value materials, with companies like Yuhua New Technology Materials leading in the production of various inorganic non-metallic materials [10][11] - The ash-based industry is also developing, with new products like grinding balls made from fly ash, which have a significantly higher market value compared to their raw materials [11] Group 4: Renewable Energy and New Materials - Zhuoerqi is leveraging its abundant wind and solar resources to develop green and silicon-based industries, with significant advancements in photovoltaic component production [14][17] - The Tianhe Solar Technology Company has achieved rapid project completion times, establishing a comprehensive solar industry chain in the region [14][18] Group 5: Government and Enterprise Collaboration - The local government has implemented supportive policies to enhance the business environment, including financial incentives and streamlined approval processes for new projects [21][22] - Zhuoerqi has been recognized for its excellent business environment, which has attracted numerous enterprises and fostered a collaborative ecosystem for industrial development [22]

在北京，团中央青年讲师团深入基层单位，送上全会精神"青春版"。在中国地质大学，青年宣讲员们以 线上线下相结合的方式，与全国、各省级学联骨干及该校师生代表共话"十四五"发展成就，展望"十五 五"规划蓝图。宣讲员展云鹏通过讲述"嫦娥六号"在月背成功举起玄武岩质五星红旗的故事，阐释了我 国以科技创新为牵引，不断巩固提升矿业、纺织等产业在全球产业分工中地位和竞争力的发展道路。青 年听众周子健激动地说："我们要加倍努力，争取在'十五五'期间创造出更多这样'点石成金'的科研成 果。"在钱学森诞辰114周年纪念日之际，青年宣讲员们走进中国空间技术研究院，紧扣科技创新、大国 重器、空天报国等关键词汇，向200余名科研骨干、入党积极分子、"青马"学员等，深情讲述了"悟 空""嫦娥""玉兔""祝融"等"十四五"时期各领域科技创新的丰硕成果，并向在场的青年科研人员们表达了 由衷的敬意。中国空间技术研究院团委书记李敏表示："就像宣讲团老师讲到的那样，'最好的致敬方式 就是创造新的历史'，作为新征程上的航天人，是时候鼓起斗志、撸起袖子、奔向下一个新的五年了！" 进行了热烈深入的交流，特别是国产文创"出海"等话题，引发了同学们关于全会精 ...

Core Viewpoint - The 2026 Tariff Adjustment Plan aims to enhance economic development through targeted tariff reductions on 935 items, focusing on "nurturing new growth," "green transition," and "benefiting the public" [1][2][4] Group 1: Tariff Adjustments - The adjustment includes a temporary import tariff lower than the most-favored-nation (MFN) rate for 935 items, expanding the total number of tariff items to 8,972 [1][2] - Key components such as numerical control hydraulic pads for pressure machines will see a reduction in import tariffs to 6%, which is 6 percentage points lower than the MFN rate, thereby reducing costs for domestic manufacturing [2] Group 2: Green Transition - Tariff reductions on resources like regenerated black powder for lithium-ion batteries support the circular economy, with estimates indicating that importing 10,000 tons of regenerated black powder could reduce primary mineral extraction by approximately 500,000 tons and carbon emissions by 25,000 tons [3] - The addition of new tariff items such as intelligent bionic robots and bio-aviation kerosene aligns with technological advancements and industry upgrades, contributing to a total of 8,972 tariff items [3] Group 3: Economic and Trade Cooperation - The tariff adjustments serve as a "barometer" for industrial development and a "warm-hearted" measure for improving public welfare, while also acting as a "declaration" for further opening up to international trade [4] - The plan includes zero tariffs on most finished medicines and certain cancer drugs, aiming to alleviate the medical burden on patients [4] - Continued commitment to multilateral cooperation is evident, with zero tariff treatment for 100% of products from 43 least developed countries and preferential rates for certain goods from ASEAN members like Bangladesh and Laos [4]

Core Viewpoint - The silicon-based new materials industry in China is transitioning from low-price competition to value competition, driven by policy guidance, innovation, and industry collaboration [1][3][4]. Group 1: Industry Challenges - The silicon-based new materials sector has faced structural contradictions due to rapid capacity expansion, particularly in the organic silicon field, where annual capacity growth exceeded 15% while market demand grew only 8%-10% [2]. - Companies are engaged in price wars, with some selling below cost, leading to significant profit margin compression and reduced investment in R&D and innovation [2][3]. - Product homogeneity is prevalent, with many small enterprises lacking core technology and focusing on low-value products, while high-end products remain heavily reliant on imports [2]. Group 2: Policy and Industry Response - In response to the low-price competition, leading companies like Hoshine Silicon Industry have taken the initiative to promote self-discipline and industry consensus to combat price wars [3][4]. - The Chinese government has introduced policies to regulate market competition, including a notice from the National Development and Reform Commission aimed at curbing disorderly pricing practices [3][4]. Group 3: Value Creation and Innovation - Hoshine Silicon Industry emphasizes internal transformation through refined management, technological innovation, and industry chain collaboration to enhance resilience and break free from price competition [5][6]. - The company has maintained a research and development expenditure growth rate of over 20% annually, significantly above the industry average, and has established partnerships with academic institutions to foster innovation [6]. Group 4: Market Recovery and Future Outlook - Since 2025, the organic silicon industry has seen improvements in supply-demand dynamics, with core product prices rebounding and profitability recovering among leading companies [7]. - The demand is shifting towards high-value sectors such as new energy vehicles, photovoltaics, and 5G communications, while the capacity expansion cycle has ended, indicating a transition towards green transformation and technological upgrades in the silicon-based new materials sector [7].

Core Insights - Qinghai Province has achieved a remarkable transformation in clean energy, becoming a leader in both installed capacity and generation share of renewable energy in China [1][3] - The province's clean energy development is characterized by a unique integration of ecological protection and economic growth, showcasing a model for sustainable development [3] Group 1: Clean Energy Development - Qinghai has installed over 73 million kilowatts of clean energy capacity, accounting for 93.1% of its total installed capacity, which is 34 percentage points higher than the national average [1] - The province's renewable energy generation accounts for 90.6% of its total electricity output, leading the nation except for Tibet [1] - The installed capacity of new energy has reached 56 million kilowatts, doubling since 2020, with a generation share of 50.2% [1] Group 2: Infrastructure and Technology - The Qing-Yu ±800 kV UHVDC project has enabled the transmission of over 70 billion kilowatt-hours of clean electricity from Qinghai to central China over nearly five years [2] - Qinghai has established a robust power grid that connects with multiple regions, enhancing its electricity transmission capabilities [2] - The province is home to the first 100% clean energy traceable green data center and has seen a 40% reduction in operational costs through automation in its power stations [2] Group 3: Economic and Ecological Impact - The clean energy sector has significantly improved local livelihoods, with initiatives like the "self-generated, surplus electricity online" model increasing household incomes by over 3,000 yuan annually [3] - Qinghai's clean energy initiatives have also contributed to biodiversity conservation, with installations like the "life bird nests" supporting local wildlife [3] - The province's lithium battery industry has seen substantial growth, with lithium carbonate production reaching 134,000 tons, accounting for 19% of the national output [2]

本报记者 杨洁 在湖南省这片创新热土上，新质生产力正以前所未有的速度茁壮成长。从仰望星空的北斗产业，到深耕 大地的绿色物流枢纽和地热系统，再到投资于人的科创企业与人才培育，一场以金融赋能高质量发展的 生动实践正在三湘大地全面展开。 近期，《证券日报》记者跟随中国银行业协会到湖南省实地调研了解到，当地金融机构正以精准、创 新、前瞻性的金融服务，融贯"天地人"三大维度，为培育新质生产力注入源源不断的金融活水。 天空：北斗闪耀 金融赋能空天信息新赛道 "复移小凳扶窗立，教识中天北斗星。"自古以来，北斗七星便是中国人辨明方向、追寻时空的指引。如 今，北斗之光已悄然融入人们的寻常生活，无需仰首寻觅，近在身边的中国北斗产业，正以璀璨科技之 辉照亮千行百业。 北斗产业是指基于北斗全球卫星导航系统的产业。近年来，我国持续推动北斗与5G通信、大数据、物 联网等新兴技术领域深度融合，全面推动北斗系统规模应用示范，在重点行业、区域创新应用上进行示 范引导，发展形成更多"北斗+"和"+北斗"的新产业新业态新模式。湖南作为北斗技术创新的引领区，其 发布的《湖南省北斗产业发展规划（2023—2027年）》提出"力争到2027年全省北斗产 ...