1月15日，财通基金2026年投资策略会于上海成功举办。 本次会议以"质领新机"为主题，汇聚财经界专家学者与财通基金核心投研团队，围绕高质量发展阶段下 的经济走势、产业趋势与投资逻辑展开深度对话，与投资者共同探寻市场新机遇、共话产业新势能。本 次策略会上，财通基金还发布了《定增市场全景报告（2011-2026）》，系统梳理定增与询价转让等特 色资产领域的新趋势、新逻辑，为市场提供重要参考与决策支持。 紧扣高质量发展主题，共话行业新生态 当前全球经济格局深度调整，产业链重构提速，中国经济正处于向高质量发展转型的关键阶段，人工智 能、生物制造等新兴产业崛起，对高效能现代金融体系需求迫切。财通基金党委书记、董事长吴林惠在 开场致辞中表示，本次策略会紧扣"高质量发展"的关键词，旨在汇聚多方智慧，共同厘清高质量发展新 阶段下的经济脉络、产业趋势与投资逻辑。 2026年是"十五五"规划的开局之年，也恰逢财通基金迎来成立的十五周年。面对新阶段，财通基金党委 书记、董事长吴林惠指出，公募行业的本源是"受人之托，代人理财"，核心价值在于为投资者持续创造 回报。财通基金将持续坚守客户利益至上的初心，更深的研究、更稳的运作、更优的 ...

Core Insights - The article highlights the transformation of the border town of Mohan, which has become a bustling hub for people, vehicles, and logistics due to improved transportation and innovative policies [2][4]. Group 1: Infrastructure and Transportation - The opening of the China-Laos Railway has significantly enhanced the hub effect of Mohan, with projected passenger numbers reaching 19.51 million and cargo volume hitting 24.48 million tons by 2025, marking a year-on-year increase of 2.1% and 24.6% respectively [2]. - The Mohan port is undergoing a comprehensive upgrade, expanding its entry and exit lanes from 4 to 12, which will facilitate a "one-stop" customs clearance process [3]. - After the upgrade, the time for freight vehicle clearance is expected to be reduced to 4 minutes, with daily traffic capacity increasing from 600 to 2,000 vehicles, and annual cargo throughput projected to rise from 4.5 million tons to 13 million tons [4]. Group 2: Economic Development and Investment - The unique "provincial city managing border town" model has allowed for better resource allocation between Kunming and Mohan, addressing the long-standing issue of "having ports but lacking industries" [7]. - Since the management transfer, 65 projects have been initiated, with total investments exceeding 14 billion yuan and an annual growth rate of 118.2%, leading to a population increase from 20,000 to 40,000 [8]. - The establishment of modern border villages has significantly improved local economies, with collective income in some villages reaching 1.223 million yuan, over 12 times higher than before the management change [8].

2026年是"十五五"开局之年，泉州经济社会发展主要预期目标为：地区生产总值增长5%左右、略高于 全省增速，在实际工作中争取更好结果；农林牧渔业总产值增长4%；工业增加值增长5.7%；第三产业 增加值增长5.5%；地方一般公共预算收入增长2.5%；固定资产投资增长3%；实际利用外资、出口总额 持平；社会消费品零售总额增长5%，居民消费价格涨幅控制在2%左右；居民人均可支配收入和经济增 长基本同步；完成节能减排降碳任务。 中新网泉州1月14日电（记者 孙虹）福建省泉州市第十七届人民代表大会第五次会议14日开幕，泉州市 市长蔡战胜作政府工作报告时指出，2025年，泉州地区生产总值预计增长5.3%左右，高质量发展迈出 新的坚实步伐。 蔡战胜指出，实现上述目标，要坚持稳中求进、提质增效，持续扩大内需、优化供给，做优增量、盘活 存量，稳就业、稳企业、稳市场、稳预期，保持社会和谐稳定，不断巩固拓展经济稳中向好势头。 "过去的五年极不寻常、极不平凡。"蔡战胜说，泉州有效应对一系列重大风险挑战，全力抓项目、促发 展，启动实施涵盖产业发展、城市建设、民生事业等领域23个专项行动，推动海丝名城、智造强市、品 质泉州建设取得良好成 ...

Core Viewpoint - The Civil Aviation Administration of China (CAAC) is focusing on high-quality development and international cooperation in the aviation sector as it plans for 2026, emphasizing the integration of party leadership and reform initiatives [2][5]. Group 1: Achievements and Progress - The "14th Five-Year Plan" period is significant for the center, with enhanced capabilities in serving the CAAC and steady progress in the "Belt and Road" cooperation platform [3]. - The center successfully completed tasks such as the 42nd International Civil Aviation Organization (ICAO) Assembly and improved the support for official overseas travel [3][5]. - The establishment of a legal research alliance in international aviation law and participation in revising the Civil Aviation Law highlight the center's role as a think tank [3][5]. Group 2: 2026 Work Focus - The center's work in 2026 will focus on five key areas: scientific planning and reform for high-quality development, leveraging platform roles for the "Belt and Road" initiative, enhancing foreign airline service functions, building a legal think tank for aviation, and promoting high-quality party development [6]. - The center aims to create a "small but beautiful, small but excellent, small but strong" brand image while implementing the "15th Five-Year Plan" [6].

Core Viewpoint - The article highlights the ongoing efforts in Guangxi to promote and implement the spirit of the 20th National Congress of the Communist Party of China, focusing on grassroots engagement and the integration of theoretical knowledge with practical applications [1][6]. Group 1: Youth Engagement and Technological Development - The宣讲团 (propaganda team) emphasizes high-quality development, technological self-reliance, and the construction of a beautiful China, using youth perspectives to convey these themes [2]. - Students from various universities shared achievements in fields like Beidou, high-speed rail, new energy, and aerospace, illustrating the pulse of technological self-reliance [2]. - The宣讲团 also highlighted local innovations, such as the development of AI digital doctors and the integration of AI in education, showcasing the potential of technology in various sectors [2][3]. Group 2: Practical Applications and Community Focus - The宣讲团 connects macro policies to grassroots realities, transforming theoretical concepts into relatable stories that resonate with the public [4]. - Examples from local agricultural transformations and rural revitalization efforts were shared, demonstrating the practical implications of the 20th National Congress's strategies [4]. - The宣讲团 addressed community concerns, such as food security and education reform, linking these issues to broader national policies [5]. Group 3: Interactive Learning and Community Involvement - The宣讲团 utilized interactive methods, such as knowledge quizzes and discussions, to engage audiences and enhance understanding of the Congress's spirit [6][7]. - Events included performances and discussions that fostered a lively atmosphere, encouraging active participation from attendees [7]. - Feedback from participants indicated that the宣讲团's approach effectively connected with youth and helped deepen their understanding of national development goals [7]. Group 4: Future Plans - The宣讲团 plans to continue its outreach with 30 additional sessions across various regions, aiming to further embed the spirit of the 20th National Congress into local communities [7].

委员们表示将切实履行委员职责，认真开展调查研究、协商议政、民主监督，努力形成更多具有前瞻性、针对性、可操作性的履职成果，为奋力开创"精 致城市.幸福威海"建设新局面，在谱写中国式现代化山东篇章中争当排头兵贡献智慧和力量。 1月14日，出席市政协十四届五次会议的委员对政府工作报告和"十五五"规划纲要草案等进行了热烈讨论。 在讨论现场，政协委员们各抒己见，气氛热烈。委员们一致认为，政府工作报告总结成绩全面系统、实事求是，分析形势精准科学、辩证客观，部署工作 思路清晰、举措有力，彰显了强烈的使命担当和为民情怀。"十五五"规划纲要草案站位高远、思路清晰、目标明确、路径务实，是指导未来五年我市发展 的纲领性文件，展现了高质量发展的坚定决心和战略远见。 ...

Core Viewpoint - The trust industry is focusing on high-quality development in 2026, leveraging the "three classifications" reform of trust business to transition towards asset service trusts, asset management trusts, and charitable trusts while balancing risk control and innovation [1][2]. Group 1: Strategic Focus for 2026 - Trust companies are emphasizing the importance of a clear strategic direction for the "14th Five-Year Plan," with a focus on accelerating development, maintaining stability, and ensuring compliance [2]. - The 2026 annual meetings of various trust companies highlight the need for top-level design in high-quality development, with a strong signal sent during the 2025 China Trust Industry Annual Conference [1][2]. Group 2: Compliance and Risk Management - Compliance is underscored as the foundation for the trust industry's development, with companies like GuoTong Trust and ShanGuoTou Trust prioritizing strict adherence to compliance and risk management in their 2026 plans [4]. - Measures include controlling new bad debts and systematically addressing existing non-performing assets to protect investor interests [4]. Group 3: Talent Development - The industry recognizes that a high-quality talent pool is essential for driving transformation and high-quality development, with companies implementing plans to cultivate composite talents who understand both business and governance [5]. - Shanghai International Trust emphasizes focusing on core business and differentiated development while enhancing capabilities in customer management, investment research, and risk control [5]. Group 4: Industry Trends and Focus Areas - Trust companies are aligning their strategies with industry trends, focusing on asset management and service trusts, and differentiating their offerings in sectors like energy, technology innovation, and inclusive finance [5]. - Companies are expected to deepen their competitive advantages by leveraging their unique resources and focusing on specific market segments [5].

Core Viewpoint - The meeting emphasized the need for all levels and departments to align their thoughts and actions with the decisions of the central government, focusing on achieving a strong economic start in the first quarter of the year [2][3]. Economic Analysis and Measures - The meeting analyzed the economic situation for the first quarter and discussed specific measures to achieve a "good start" [2]. - Departments reported on the economic operation and proposed initiatives to ensure a strong economic performance [2]. Key Focus Areas - Industrial Stability: Emphasis on stabilizing and expanding production in key industries such as automotive, electronics, and pharmaceuticals, while fostering new growth areas like low-altitude economy and artificial intelligence [3]. - Service Sector Enhancement: Strategies to support platform enterprises, promote healthy real estate market development, and enhance the wholesale sector [3]. - Investment Expansion: Utilizing special bonds and new policy financial tools to boost investments in industrial, urban renewal, and infrastructure projects [3]. - Consumption Upgrade: Encouraging consumption through policies like trade-in programs and enhancing the supply of quality goods and services [3]. - Foreign Trade and Investment: Proactive measures to adapt to external changes and support enterprises in exploring international markets [3]. Project Management and Execution - A strong focus on project management, with an emphasis on accelerating project initiation and construction, ensuring timely funding, and enhancing project maturity [4]. - The need for a clear project recruitment strategy and resource allocation to support major projects [4]. Leadership and Accountability - City leaders are tasked with monitoring their respective areas, ensuring the implementation of policies, and addressing challenges faced by enterprises [5]. - A call for a proactive approach to risk management, particularly in safety, transportation, and market supply, to ensure economic stability [5]. Economic Monitoring and Policy Adjustment - Establishing a robust economic monitoring system to identify issues and adjust policies accordingly, with tailored strategies for key industries and enterprises [6]. - The importance of enhancing the business environment and reducing transaction costs to improve enterprise satisfaction [6].

Core Viewpoint - The article discusses the need for a trillion-yuan "pivot" in the Lunan economic circle of Shandong, emphasizing that this pivot may not be a single city but rather the simultaneous development of multiple cities like Linyi and Jining towards becoming trillion-yuan cities [1][2][4]. Group 1: Economic Development Goals - The "14th Five-Year Plan" for Shandong explicitly names Linyi and Jining as cities to accelerate their journey towards becoming trillion-yuan cities, which is a rare occurrence in the country [2][4]. - Linyi's GDP is projected to reach 655.58 billion yuan in 2024, while Jining is expected to surpass 580 billion yuan, both cities are in the high-growth range of 500 to 700 billion yuan [3][4]. Group 2: Industrial Foundations - Linyi's industrial base is strong, with a target of achieving over one trillion yuan in industrial output, supported by its status as "China's Market City" with a total trade and logistics volume exceeding one trillion yuan [5][6]. - Jining is focusing on industrial development, with plans to achieve over 900 billion yuan in industrial revenue by 2027, supported by its positioning as a new industrialization strong city and a northern inland shipping center [7][8]. Group 3: Growth Drivers - Both cities are leveraging cultural tourism as a significant growth driver, with Linyi expecting to receive over 100 million tourists and generate over 100 billion yuan in tourism revenue by 2025 [9][10]. - Jining is also focusing on cultural tourism, with projections of nearly 10 million domestic tourists and significant revenue growth from tourism activities [9][10]. Group 4: Regional Impact - The rise of trillion-yuan cities in Lunan will lead to more policy support, resource aggregation, and talent influx, transforming the regional industrial layout from "individual battles" to "collaborative wins" [13][14]. - The emergence of Linyi and Jining as trillion-yuan cities will create a stable structure among Shandong's three economic circles, addressing regional development imbalances and injecting stronger momentum into the province's high-quality development [13][14].

Core Viewpoint - The emphasis is on the effective compilation of the "15th Five-Year Plan" and the need to strengthen execution to ensure the plan's implementation [3][5]. Group 1: Planning and Development - The "15th Five-Year" period is identified as a critical stage for the province to catch up and advance, necessitating a proactive approach to accelerate high-quality economic and social development [5]. - There is a focus on developing and strengthening industries through technological innovation, revitalizing traditional industries, and fostering new and future industries tailored to local conditions [5]. - The plan aims to deepen comprehensive openness, actively integrate into high-quality initiatives like the "Belt and Road" and the new western land-sea corridor, and enhance foreign trade and investment [5]. Group 2: Integration and Safety - The plan promotes the integration of various sectors, including agriculture, culture, tourism, and commerce, to maximize overall efficiency [5]. - Emphasis is placed on safety in development, with a systematic approach to ensure safety measures are prioritized and integrated into planning [5][6]. Group 3: Implementation and Coordination - The importance of translating planning into actionable results is highlighted, with a call for all levels of government to enhance their understanding and execution of the plan [6]. - There is a need for coordination and collaboration among various departments to ensure policy consistency and mutual support among different plans [6]. - The plan includes mechanisms for monitoring, evaluation, and dynamic adjustments to ensure effective implementation and accountability [6].