Group 1 - The core viewpoint is that 2026 marks the beginning of the "14th Five-Year Plan," with a recovery in nominal economic growth in China, driven by reduced impact of prices on nominal growth [1] - Domestic consumption of goods in China is at a reasonable level, but the proportion of service consumption is significantly lower than the global average, indicating potential for growth in this area [1] - Fiscal spending is shifting from "investment in objects" to "investment in people," with more resources directed towards education, healthcare, and social security, which are expected to stimulate consumption [1] Group 2 - The outlook for the equity market in 2026 suggests that overall opportunities outweigh risks, despite some overheating in certain sectors, particularly AI-related technology stocks [2] - The AI industry is entering a phase of rapid growth, with China's engineer advantage expected to accelerate domestic AI development, leading to many companies entering a fast growth period [2] - There is a favorable outlook for domestic computing power and AI applications, which are seen as high-probability investment directions, alongside the proliferation of large models and the advancement of smart devices and robotics [2]

Core Viewpoint - The "15th Five-Year Plan" marks a new journey for China's capital markets, emphasizing high-quality development and reform to support the modernization of the economy [2][5]. Group 1: Shanghai Stock Exchange (SSE) - SSE aims to enhance market stability and maintain a focus on risk prevention, strong regulation, and promoting high-quality development [3][4]. - The exchange has become the third-largest stock market globally and the largest bond market, with a strong position in ETF and options trading [3]. - SSE plans to leverage the Sci-Tech Innovation Board as a testing ground for reforms and to attract resources to strategic emerging industries [4]. Group 2: Shenzhen Stock Exchange (SZSE) - SZSE is committed to supporting the Guangdong-Hong Kong-Macao Greater Bay Area and aims to become a world-class exchange by 2035 [6][7]. - The exchange will enhance its institutional adaptability and promote the development of high-quality innovative companies [7]. - SZSE emphasizes the importance of investor returns and aims to strengthen the coordination of investment and financing [8]. Group 3: Beijing Stock Exchange (BSE) - BSE expresses gratitude to the Securities Times for its support in promoting the development of the new third board market [9]. - The exchange aims to enhance its role in capital market reform and development through collaboration with media and stakeholders [9]. Group 4: Shanghai Futures Exchange (SHFE) - SHFE focuses on enhancing product functionality and supporting the modernization of industrial systems [11]. - The exchange has expanded the range of products available for qualified foreign institutional investors (QFII) and aims to strengthen its international presence [11]. - SHFE is committed to maintaining market stability and protecting investor rights through robust risk management [12]. Group 5: Zhengzhou Commodity Exchange (ZCE) - ZCE emphasizes the importance of serving the real economy and enhancing its regulatory framework [13][14]. - The exchange plans to develop new products and deepen its service capabilities to support national strategies [14]. - ZCE aims to strengthen investor education and improve market communication to foster a rational investment environment [15]. Group 6: Dalian Commodity Exchange (DCE) - DCE has successfully launched new futures products and enhanced its risk management tools [17]. - The exchange is expanding its international reach by increasing the number of products available to foreign investors [17]. - DCE is focused on digital transformation to improve service quality and operational efficiency [17]. Group 7: China Financial Futures Exchange (CFFEX) - CFFEX aims to enhance its service to the real economy and improve market resilience through effective risk management [19][20]. - The exchange is committed to strengthening its regulatory framework and promoting long-term capital market stability [19]. - CFFEX plans to collaborate with media to effectively communicate the role of capital markets in supporting the economy [20]. Group 8: Guangzhou Futures Exchange (GFEX) - GFEX is dedicated to promoting green development and supporting the transition to a low-carbon economy [21][23]. - The exchange has successfully launched new green products and aims to enhance its international cooperation [22][23]. - GFEX plans to focus on product innovation and deepen its market services to better meet industry needs [23][24].

Group 1 - BYD aims to maintain significant R&D and financial investment to consolidate electrification and promote intelligence in the new "15th Five-Year Plan" period [3] - The company plans to integrate global resources for collaborative innovation and accelerate its global industrial layout to build a world-class Chinese brand [3] - BYD's annual sales have achieved a tenfold growth during the "14th Five-Year Plan" period, establishing it as the largest electric vehicle manufacturer globally [3] Group 2 - Oriental Fortune emphasizes the importance of empowering the real economy and serving people's needs in the financial sector during the "15th Five-Year Plan" [5] - The company aims to leverage technology to connect wealth management and financing needs effectively [5] Group 3 - Moore Threads focuses on accelerating the application of domestic GPUs across various industries to support digital transformation [7] - The company has established a complete technology stack based on a unified architecture, achieving a systematic closed loop from hardware to application [7] Group 4 - Muyuan Foods is committed to producing safe and healthy pork products, aiming for high-quality development in the pig farming industry [9] - The company plans to leverage technology to address industry challenges and contribute to the high-quality development of China's pig farming sector [9] Group 5 - Zhongwei Company aims to achieve 50% to 60% market coverage in high-end semiconductor equipment through organic growth and external expansion [12] - The company emphasizes the importance of technological innovation and industry chain collaboration to enhance global competitiveness [12] Group 6 - Huayou Cobalt plans to align its strategy with national planning during the "15th Five-Year Plan" period, focusing on creating customer value and leading industry development [16] - The company aims to become a leading technology enterprise in energy materials globally [16] Group 7 - Aier Eye Hospital integrates clinical services, research innovation, and public health education into a comprehensive eye health ecosystem [18] - The company is committed to advancing AI diagnostics and expanding its eye health service network [18] Group 8 - Tianci Materials focuses on sustainable development principles, enhancing innovation capabilities in lithium-ion battery materials and specialty chemicals [20] - The company aims to embrace a new growth cycle in the lithium and energy storage industry over the next five years [20] Group 9 - JinkoSolar emphasizes technological innovation as the core driver of its development, aiming to enhance the efficiency of photovoltaic applications [22] - The company is focused on integrating advanced technologies with traditional manufacturing to foster new productive forces [22] Group 10 - Jishi Media aims to integrate cultural and technological advancements, focusing on digital transformation and innovation in the media sector [24] - The company plans to enhance its competitiveness by focusing on AI, data elements, and low-altitude economy [24] Group 11 - China National Machinery Industry Corporation aims to transform into a technology-driven engineering company while embedding its development into the national modernization blueprint [26] - The company plans to enhance its efficiency and investment value through capital market engagement and focus on green engineering and digital infrastructure [26]

（原标题：2026年是"十五五"开局之年 今年宏观经济十大看点汇总） 编者按：2026年是"十五五"开局之年，在新一轮五年规划的首年开好局、起好步，关乎未来五年的发展 全局。回望"十四五"，我国发展历程极不寻常、极不平凡，站在新起点，做好全年的经济工作，要坚持 稳中求进、提质增效，发挥存量政策和增量政策集成效应，加大逆周期和跨周期调节力度，提升宏观经 济治理效能。 在新的一年来临之际，证券时报推出"2026宏观经济十大看点"，探寻新的一年宏观政策着力点。 1.财政赤字和政府债券 发行规模有望提升 2026年我国将继续实施更加积极的财政政策，预示着财政将保持较大支持强度。为支持"十五五"开局之 年各项经济工作顺利开展，新一年的财政赤字规模与新增政府债务规模有必要提高。 新的一年，我国财政收支紧平衡压力不减，财政刚性支出规模持续提升，这都要求财政赤字规模进一步 提高。目前，市场机构普遍看好财政赤字率不低于2025年4%的水平、财政赤字规模将不低于4.06万亿 元。在中国经济运行长期向好的态势下，由于作为分母的国内生产总值（GDP）不断扩大，2026年赤字 率水平即使维持不变，实际赤字规模仍将增长。 为推动投资止跌 ...

Core Viewpoint - The article discusses the strategic plans and goals of various Chinese stock exchanges as they embark on the "15th Five-Year Plan" period, emphasizing the importance of high-quality development and the role of capital markets in supporting the modernization of the economy [2][5][10]. Group 1: Shanghai Stock Exchange (SSE) - SSE aims to enhance market stability and maintain a focus on risk prevention, regulatory strength, and promoting high-quality development [3][4]. - The exchange plans to leverage the Sci-Tech Innovation Board as a testing ground for reforms and to attract resources towards strategic emerging industries [4]. - SSE emphasizes the importance of strong regulatory measures to combat fraud and ensure investor protection [4][5]. Group 2: Shenzhen Stock Exchange (SZSE) - SZSE is committed to enhancing the adaptability of its systems to foster a high-quality listing environment and support innovative companies [8][9]. - The exchange aims to promote coordinated development of investment and financing, encouraging companies to increase dividends and share buybacks [9]. - SZSE plans to strengthen its international presence and enhance its role as a bridge for global investment [9][10]. Group 3: Dalian Commodity Exchange (DCE) - DCE focuses on expanding its product offerings and enhancing risk management tools to better serve the real economy [24][25]. - The exchange aims to improve its international influence by increasing the number of products available to foreign investors [24][25]. - DCE emphasizes the importance of regulatory compliance and market stability in its operations [24][25]. Group 4: Zhengzhou Commodity Exchange (ZCE) - ZCE is dedicated to enhancing its service to the real economy and supporting national strategies through its product offerings [19][20]. - The exchange plans to strengthen its regulatory framework and improve market communication to foster a healthy investment environment [21][20]. - ZCE aims to leverage technology to enhance its regulatory capabilities and ensure market stability [21]. Group 5: China Financial Futures Exchange (CFFEX) - CFFEX is focused on enhancing its service quality to the real economy while maintaining a strong regulatory framework [28][29]. - The exchange aims to promote long-term capital inflows and improve market resilience through effective risk management [28][29]. - CFFEX emphasizes the importance of collaboration with media to enhance market transparency and public trust [29]. Group 6: Guangzhou Futures Exchange (GFE) - GFE is committed to supporting green development and the transition to a low-carbon economy through its product offerings [30][33]. - The exchange plans to enhance its international cooperation and expand its influence in the global market [33][34]. - GFE aims to innovate its product lineup to better meet the needs of the emerging green economy [34].

Core Viewpoint - The article emphasizes the strategic plans and aspirations of various companies as they embark on the "15th Five-Year Plan" period, highlighting their commitment to innovation, technology, and global competitiveness. Group 1: BYD - BYD aims to maintain significant R&D and financial investment to solidify its position in electrification and promote smart technology, leveraging global resources for innovation [4] - The company has achieved a tenfold increase in annual sales during the "14th Five-Year Plan" and seeks to capitalize on the global expansion of Chinese brands [4] Group 2: Oriental Fortune - Oriental Fortune expresses confidence in the resilience of the Chinese economy and emphasizes the importance of financial technology in connecting wealth management with real economy financing [6] - The company aims to serve diverse stakeholders and enhance its role in the financial transformation landscape [6] Group 3: Moore Threads - Moore Threads focuses on accelerating the application of domestic GPUs across various industries, contributing to the digital transformation [8] - The company has established a comprehensive technology stack and aims to maintain high R&D investment to strengthen its competitive edge [8] Group 4: Muyuan Foods - Muyuan Foods is committed to producing safe and healthy pork products, responding to consumer demand while advancing the pig farming industry towards high-quality development [10] - The company plans to leverage technology to address industry challenges and enhance overall quality [10] Group 5: Zhongwei Company - Zhongwei Company aims to achieve 50% to 60% market coverage in high-end semiconductor equipment through organic growth and expansion over the next five to ten years [12] - The company emphasizes collaboration within the industry to enhance global competitiveness [12] Group 6: AVIC Shenyang Aircraft - AVIC Shenyang Aircraft is focused on achieving significant milestones in the "15th Five-Year Plan" by enhancing core functions and competitiveness [14] - The company aims to contribute to the construction of a strong aviation nation through strategic initiatives [14] Group 7: Huayou Cobalt - Huayou Cobalt plans to align its strategy with national planning during the "15th Five-Year Plan," focusing on creating customer value and leading industry development [16] - The company aims to become a leading technology enterprise in energy materials [16] Group 8: Aier Eye Hospital - Aier Eye Hospital integrates its development with national strategies, focusing on innovation in eye health services and technology [18] - The company aims to enhance its service network and collaborate with partners to improve public health outcomes [18] Group 9: Tinci Materials - Tinci Materials is committed to sustainable development through innovation in lithium-ion battery materials and specialty chemicals [21] - The company anticipates a new growth cycle in the lithium and energy storage industries over the next five years [21] Group 10: JinkoSolar - JinkoSolar emphasizes technology innovation as a core driver for its development, focusing on high-efficiency solar cell technologies [23] - The company aims to integrate advanced technologies with traditional manufacturing to foster new productive capabilities [23] Group 11: Jishi Media - Jishi Media aims to integrate cultural and technological advancements, focusing on becoming a leading cultural technology enterprise [25] - The company plans to leverage AI and digital transformation to enhance its service offerings [25] Group 12: China National Machinery Industry Corporation - China National Machinery Industry Corporation is focused on deepening its role in China's modernization efforts while enhancing its international competitiveness [27] - The company aims to foster new productive capabilities in emerging sectors such as green engineering and digital infrastructure [27]

人民财讯1月5日电，银河证券指出，消费行业需要重视"十五五"规划中消费的中长期目标；短期关注针 对2026年消费相关具体政策落地。银河证券对消费行业2026年海外业务的发展持乐观观点。消费个股方 面，关注市场风格切换(高切低)过程中的高分红率优质公司，以及各细分赛道中有阿尔法的公司。 ...

会议逐项听取了牵头省领导关于去年四季度及全年全省学习贯彻习近平总书记对江苏工作重要讲话 精神进展情况的汇报，指出，去年以来，全省上下坚持把学习贯彻习近平总书记重要讲话精神作为贯穿 全部工作的主线，统筹推进"四个走在前""四个新""4+1""四个着力点"等重大任务，思路举措实，推进 力度大，工作成效明显。要围绕总书记赋予江苏的重大任务，按照省委十四届十次全会部署，结合编 制"十五五"规划《纲要》及专项规划，拿出更多务实管用的举措，确保党中央决策部署不折不扣落到实 处。要结合中央巡视反馈意见整改落实等工作，加大关键领域攻坚力度，以改革的思路、创新的办法破 解发展难题，努力取得更多突破性进展和标志性成果。要坚持常态化调度推进督查，增强工作的系统 性、协同性，增强抓落实的执行力、穿透力，推动学习贯彻工作不断取得新进展。 会议强调，今年是"十五五"开局之年，抓好一季度经济工作十分重要。要坚持稳中求进工作总基 调，牢记肩负的经济大省挑大梁责任，切实增强工作责任心和紧迫感，按照中央经济工作会议部署和省 委安排，细化落实一季度经济工作重点任务和责任分工，推动各项政策措施高效衔接、靠前发力。要有 序推进重大项目建设，强化要素保 ...

Group 1: Industry Overview - The Chinese futures market has played a significant role in supporting the high-quality development of the real economy during the "14th Five-Year Plan" period [1] - The implementation of the Futures and Derivatives Law has provided a strong legal guarantee for creating a safe, standardized, transparent, and open capital market [1] - The State Council has established a comprehensive regulatory framework to enhance risk prevention and promote high-quality development in the futures market [1] Group 2: Market Developments - Futures companies are accelerating their transformation into specialized, technology-driven comprehensive derivatives service providers, expanding into OTC derivatives and risk management services [1] - The "insurance + futures" model has been continuously expanded, covering various commodities such as live pigs, soybeans, and apples, becoming a crucial tool for rural revitalization [1] - The Shanghai Futures Exchange has successfully launched new futures and options products, enhancing its service capabilities for modern industrial systems [5] Group 3: Future Directions - The "15th Five-Year Plan" marks a new starting point for the futures industry, with a focus on risk prevention, strong regulation, and promoting high-quality development [2][3] - The industry aims to enhance its digital transformation and improve real-time monitoring capabilities to better serve the market [3] - The Guangzhou Futures Exchange is committed to becoming a green futures exchange, focusing on green low-carbon transformation and high-quality development [14]

本报讯(记者黄伟)1月4日，省委常委会召开会议，学习贯彻习近平总书记2026年新年贺词和近期重要讲 话精神，总结去年四季度及全年全省学习贯彻习近平总书记对江苏工作重要讲话精神进展情况，研究部 署一季度经济工作重点任务和责任分工。省委书记信长星主持会议并讲话。 会议指出，习近平总书记发表的2026年新年贺词和在全国政协新年茶话会上的重要讲话，鼓舞人心、提 振信心，为我们做好今年工作提供了重要指引。要从过去一年和"十四五"时期取得的非凡成就中更加深 刻领悟"两个确立"的决定性意义，不断增强做到"两个维护"的政治自觉，矢志不渝沿着总书记指引的方 向前进。要以求真务实、真抓实干的作风，脚踏实地做规划、定目标、促发展，努力以良好开局为"十 五五"发展打好基础。要持之以恒推进全面从严治党，把新时代党的自我革命要求落实到位，以高质量 党建引领高质量发展。 会议学习了习近平总书记在《求是》杂志发表的重要文章《学习好贯彻好党的二十届四中全会精神》， 强调，要在前期学习的基础上，进一步深化对党的二十届四中全会精神的学习领会，紧密结合江苏实际 抓好贯彻落实，推动中国式现代化江苏新实践取得新的更大突破。 会议逐项听取了牵头省领导关于 ...