前海打造新质生产力和创新的策源地 近日，中共中央办公厅、国务院办公厅《关于深入推进深圳综合改革试点深化改革创新扩大开放的意见》（以下简称《意见》）对外发布。该《意见》是 2020年印发的《深圳建设中国特色社会主义先行示范区综合改革试点实施方案（2020－2025年）》的升级版，将再推出一批改革措施、落地一批创新试验、 深化一批开放举措，推动深圳综合改革试点取得更大成效。 前海深港现代服务业合作区、河套深港科技创新合作区作为国家重大战略平台，在深圳综合改革试点实施中扮演着重要角色。 深圳综合改革试点迎来新的政策红利，近日持续引发热议。前海深港现代服务业合作区、河套深港科技创新合作区是国家重大战略平台，深圳综合改革试点 不少任务将率先在前海、河套先行先试。 6月19日，深圳市政府新闻办举行深入推进深圳综合改革试点系列新闻发布会第二场，聚焦前海、河套，介绍深圳进一步推进高水平对外开放相关情况，并 回答记者提问。 "全力争取《意见》改革措施在前海先行先试、率先落地，在更高起点、更高层次、更高目标上深化改革、扩大开放。"在6月19日举行的新闻发布会上，深 圳市委常委、前海合作区党工委书记、前海蛇口自贸片区管委会主任、前 ...

Core Viewpoint - Beijing's International Science and Technology Innovation Center has become a significant force in the global innovation network, with technological innovation reforms being a key variable for high-level openness [1] Group 1: Achievements in Innovation - The number of invention patents per ten thousand people reached 262.9, a year-on-year increase of 20.4%, marking the highest growth rate in the past five years [1] - The annual technical contract transaction volume exceeded 900 billion yuan, reaching 915.3 billion yuan, maintaining the top position in the country [1] - The number of unicorn companies in Beijing stands at 115, ranking first in the nation [1] - The total revenue of enterprises in the Zhongguancun National Independent Innovation Demonstration Zone reached 8.74 trillion yuan, ranking first among 178 national high-tech zones [1] Group 2: International Recognition and Rankings - Beijing ranks among the top global technology innovation clusters according to the World Intellectual Property Organization [1] - In the International Science and Technology Innovation Center Index, Beijing is ranked third globally [1] - The city has 431 individuals recognized as highly cited scientists, maintaining the top position in the global innovation city rankings for two consecutive years [1] - Beijing has consistently topped the "Nature Index - Research Cities" global rankings for several years [1] Group 3: Policy Innovations and Reforms - Zhongguancun has implemented 24 major reform measures, with 21 pilot policies fully promoted in the demonstration zone [2] - The "reporting and approval" policy for high-tech enterprises has been introduced, reducing the approval process by over 80%, benefiting more than 500 companies [2] - A "pay after use" model for scientific and technological achievements has been launched, encouraging innovation among small and medium-sized enterprises [2] - The number of foreign-funded R&D centers has increased, with 221 centers recognized [2] Group 4: Future Plans and International Cooperation - The city plans to deepen the implementation of the internationalization action plan for technological innovation, enhancing global scientific cooperation [2] - Six major actions will be promoted to expand international cooperation networks, improve platforms, and enhance the open innovation ecosystem [2] - The Zhongguancun Forum will be improved to consolidate international cooperation results and expand the international "circle of friends" [3]

Group 1 - The core viewpoint emphasizes the importance of allowing more capable and innovative enterprises to enter the market, which will help expand the innovation asset pie and enhance the investment value of China's capital market [2][3] - The 2025 Lujiazui Forum outlined a roadmap for China's financial development, including a transformation of the monetary policy framework, greater financial openness, and reforms in the capital market [2] - The announcement by the Chairman of the China Securities Regulatory Commission (CSRC) regarding the establishment of a growth tier for the ChiNext board and the resumption of listing standards for unprofitable companies has sparked widespread discussion in the market [2][3] Group 2 - Unprofitable innovative enterprises are seen as the "seeds" of China's economy, but they have faced liquidity challenges due to a still-developing VC and PE market, leading some to seek value realization through overseas partnerships [3] - There is a need for more operationally feasible measures to open up market access, as relaxing listing requirements will alter the existing stress structure of the ChiNext and Sci-Tech Innovation Board [3][4] - A market-based incentive and constraint framework should be established based on the principle of equal rights and responsibilities, ensuring that sponsors bear clear responsibilities without exceeding their risk management capabilities [4] Group 3 - The capital market's role as a "testing ground" for innovative assets requires improvements in the standards for qualified investors, moving beyond a narrow definition based solely on financial capacity [4][5] - Regulatory efforts should focus on providing sufficient space for market self-governance rather than heavily regulating sponsors and defining qualified investors, which would facilitate the acceptance of unprofitable innovative enterprises [5] - The nurturing of the market's trial-and-error process is essential for the capital market to effectively support China's innovative assets, with a focus on protecting the legitimate rights and interests of market participants [5]

Group 1: Shenzhen's Open Policy and Economic Growth - Shenzhen is accelerating its efforts to implement high-level opening-up policies, focusing on major strategic platforms like Qianhai Cooperation Zone and Shekou Free Trade Zone [1][2] - In 2024, Qianhai's GDP is projected to reach 300.88 billion, with a year-on-year growth of 8.6%, and foreign investment accounting for 60.4% of the city's total [2][3] - The Qianhai area aims to become a hub for deepening reform and innovation, with a focus on high-quality development in modern services [2][3] Group 2: Innovation and Talent Development - Qianhai will provide rapid patent review services and establish an international technology transfer center to support innovation [3] - The area plans to enhance foreign talent services and deepen collaboration with Hong Kong in attracting professionals [3][4] - Qianhai is set to develop a comprehensive innovation ecosystem, focusing on emerging finance, technology finance, and artificial intelligence [3][4] Group 3: Development of the He Tao Cooperation Zone - He Tao Cooperation Zone is positioned as a world-class research hub, with significant achievements in attracting high-end research projects and technology enterprises [5][6] - The zone aims to create a talent hub by collaborating with renowned universities and facilitating the establishment of R&D institutions [5][6] - Infrastructure improvements, such as the new Huanggang Port, are expected to enhance connectivity and reduce customs clearance times [6] Group 4: Trade and Investment Initiatives - The Qianhai Shekou Free Trade Zone has seen its total import and export volume grow from 71.2 billion in 2015 to 536.7 billion in 2024, with an annual growth rate of 25% [7] - The area will implement a market access system based on the World Bank's business environment assessment, facilitating cross-border capital flow [8] - Initiatives will be taken to promote trade in goods, services, and digital sectors, including support for creative industries to expand internationally [9]

Core Viewpoint - Shenzhen is accelerating its high-level opening-up initiatives through strategic platforms like Qianhai Cooperation Zone and Shekou Free Trade Zone, aiming to create a new model for comprehensive reform and innovation [1][3]. Group 1: Qianhai Cooperation Zone - Qianhai aims to achieve a GDP of 300.88 billion yuan in 2024, with a year-on-year growth of 8.6%, and fixed asset investment of 169.1 billion yuan, growing by 10.1% [3]. - The zone's strategic positioning includes being a platform for deepening reform and innovation, high-level opening-up, and high-quality development of modern services [3][4]. - Qianhai will implement innovative policies to attract talent and enhance financial services, focusing on emerging financial sectors and cross-border finance [4][5]. Group 2: He Tao Cooperation Zone - He Tao Cooperation Zone is positioned as a world-class research hub, with significant achievements including 200 high-end research projects and 440 high-level tech companies [7][8]. - The zone will focus on attracting top talent and establishing a conducive environment for innovation, including simplifying registration processes and enhancing cross-border investment [8][9]. - The new Huanggang Port is under construction, expected to reduce customs clearance time to under 5 minutes, enhancing connectivity between Shenzhen and Hong Kong [9]. Group 3: Trade and Investment Growth - The total import and export volume of the Qianhai Shekou Free Trade Zone increased from 71.2 billion yuan in 2015 to 536.7 billion yuan in 2024, averaging a growth rate of 25% [11]. - The zone aims to enhance its market access system and facilitate cross-border capital flow, focusing on sectors like stem cell research and gene technology [13][14]. - Initiatives will be taken to boost goods, services, and digital trade, including support for creative industries and overseas expansion of cultural products [14].

编者按 在2025陆家嘴论坛上，中国人民银行行长潘功胜、国家金融监督管理总局局长李云泽、中国证券监督管 理委员会主席吴清、中国人民银行副行长兼国家外汇局局长朱鹤新纷纷发表重磅讲话，围绕全球金融治 理、金融开放、资本市场建设以及外汇领域改革等关键议题系统阐释政策理念与改革方向，为我国金融 市场的未来发展指明路径，释放出深化金融改革、扩大开放的重要信号，对金融市场产生了多维度的深 远影响。 潘功胜：关于全球金融治理的若干思考 01 国际货币体系的演进趋势与改革路径 国际主导货币具有全球公共品的属性，由一国主权货币来承担，与生俱来就存在一些内在的不稳定问 题。主要体现在：主权货币国自身利益与全球公共品属性发生矛盾时会优先考虑自身利益；主权货币国 的财政和金融监管问题会以金融风险的形式向全球溢出；地缘政治冲突时国际主导货币容易被工具化、 武器化。 国际货币体系改革讨论呈现两个明确方向，驱动力已从经济金融层面转向地缘政治层面。第一个方向是 弱化对单一主权货币的过度依赖，形成少数强势主权货币的良性竞争和激励约束机制。第二个方向是由 超主权货币作为国际主导货币，其中讨论较多的是IMF特别提款权（SDR）。 国际货币体系向多 ...

具体来看：一是探索更高质量的规则供给，构建涉外金融裁判规则体系，建立涉外金融案例数据库，推 动从个案裁判到规则输出升级；二是探索更高水平的司法协作，加强国际金融司法交流，积极构建共 建"一带一路"国家法律查明合作网络，提升金融审判规则的国际协同水平；三是探索更高能级的治理协 同，强化与金融监管部门数据共享，联合国际组织及智库开展前瞻研究，助力提升跨境金融治理效能。 近五年，上海法院依法审理各类涉外、涉港澳台金融商事纠纷，共受理案件3418件，案件数量年均增长 超过10%。上海法院受理的此类案件呈现"传统与新兴并存、本土与国际交织"的鲜明特征，法院充分尊 重当事人准据法适用协议，在130余件涉外、涉港澳台案件中依法适用域外法或国际条约、国际惯例。 同时还重视涉外、涉港澳台金融审判专项机制建设，发布进一步扩大金融业对外开放的司法保障意见， 在上海全市法院均设立涉外、涉港澳台金融商事案件审判团队，积极探索金融市场案例测试机制，聘请 国际金融法律专家，完善涉外金融纠纷多元解纷机制，助力涉外司法能力提升。 本次研讨会以"金融开放合作中的国际法治实践与展望"为主题，境内外金融实务界、司法界和学术界的 专家学者就金融高水平 ...

为有源头活水来——习近平同志在闽金融论述与实践启示 福建是习近平新时代中国特色社会主义思想的重要孕育地之一。 习近平同志在福建工作17年半，领导和推动了地方改革开放和现代化建设事业，对金融领域 的一系列重大命题进行了深入研究、长远谋划和有益探索，形成了大量原创性理念，开创了 多项变革性实践，取得了一系列标志性成果，为开拓中国特色金融发展之路提供了理论与实 践的源头活水。 站在新的历史起点上，在以习近平同志为核心的党中央坚强领导下，我们坚定不移走中国特 色金融发展之路，金融血脉将持续为中国经济社会发展注入澎湃动力，为以中国式现代化全 面推进强国建设、民族复兴伟业提供有力支撑。 坚持系统观念：统筹全局谋划金融发展 在福建省福州鼓山观景台拍摄的闽江及其支流（2021年6月14日摄）。新华社记者 宋为伟 摄 闽江蜿蜒，鼓山巍巍。 福州海峡国际会展中心，一场金融赋能新质生产力发展的对接会日前在这里举行。这是三年 一次的世界闽商大会中的一项重要活动，也是福建自去年提出金融强省战略后的又一重要举 措。 金融是"国之大者"，关系中国式现代化建设全局。早在福建工作期间，习近平同志以长远的眼 光，深刻把握金融的本质、定位、规律、 ...

《跨国公司在中国：投资未来共赢发展再起航》在山东青岛发布 中新网青岛6月19日电 (胡耀杰 张孝鹏)《跨国公司在中国：投资未来共赢发展再起航》研究报告(简 称"报告")19日在第六届跨国公司领导人青岛峰会开幕式上发布。报告指出，依托中国超大规模人口基 数以及消费升级趋势，跨国公司在华市场空间不断拓展，营业收入实现稳定增长。 6月19日，《跨国公司在中国：投资未来共赢发展再起航》研究报告在青岛发布。张孝鹏 摄 编辑：徐世明 广告等商务合作，请点击这里 本文为转载内容，授权事宜请联系原著作权人 中新经纬版权所有，未经书面授权，任何单位及个人不得转载、摘编或以其它方式使用。 关注中新经纬微信公众号(微信搜索"中新经纬"或"jwview")，看更多精彩财经资讯。 报告称，跨国公司促进中国加快制度型开放步伐，参与自贸试验区制度创新的场景试验，享受到更加便 利、开放的投资环境。数据显示，2024年，中国22个自贸试验区实际使用外资达282.5亿美元。 报告指出，跨国公司享受中国市场规模持续增长的红利，在华投资回报率处于较高水平。中国国家统计 局数据显示，2019年至2024年，全国规模以上外商投资工业企业营业收入从23. ...

ETF Industry News Summary Core Insights - The three major indices experienced fluctuations and declines, while several oil and gas-related ETFs saw gains, indicating a potential shift in investor sentiment towards energy sectors amidst geopolitical uncertainties [1][4]. Market Performance - The Shanghai Composite Index fell by 0.79% to 3362.11 points, the Shenzhen Component Index decreased by 1.21% to 10051.97 points, and the ChiNext Index dropped by 1.36% to 2026.82 points [4]. - The oil and gas sector outperformed, with the Oil and Gas Resources ETF (563150.SH) rising by 1.24%, and the Oil and Gas Resources ETF (159309.SZ) increasing by 0.99% [1][13]. - Conversely, the gold sector faced declines, with the Gold Stocks ETF (517520.SH) down by 2.35% [1]. ETF Market Developments - The Shenzhen Stock Exchange held a meeting focused on the high-quality development of the bond ETF market, discussing improvements in institutional mechanisms and product systems [2]. - The China Securities Regulatory Commission announced that starting from October 9, 2025, qualified foreign investors will be allowed to participate in on-exchange ETF options trading, aimed at enhancing the investment landscape for foreign institutions [3]. ETF Category Performance - Among various ETF categories, bond ETFs showed the best performance with an average increase of 0.02%, while cross-border ETFs had the worst performance with an average decline of 1.80% [10]. - The top-performing ETFs included the Oil and Gas Resources ETFs and the Semiconductor ETF, with respective gains of 1.24%, 0.99%, and 0.93% [13][14]. Trading Volume Insights - The top three ETFs by trading volume were the A500 ETF (159351.SZ) with a volume of 2.964 billion, the A500 ETF Fund (512050.SH) at 2.734 billion, and the CSI 300 ETF (510300.SH) at 2.331 billion [17][18].