Domestic Market Overview - The domestic market experienced a steady rise, with the Shanghai Composite Index closing at 3940.95 points, up 0.53%, and the Shenzhen Component Index closing at 13486.42 points, up 0.88% [1][9] - Among the 30 sectors tracked, 26 saw gains, with notable increases in construction materials, defense, and electronics, while agriculture, coal, and food and beverage sectors faced declines [1][9] - The total trading volume for the A-share market was 189.72 billion yuan, showing a slight decrease from the previous day [1][9] Overseas Market Overview - The U.S. stock market recorded five consecutive days of gains, with the S&P 500 index reaching a new historical high, closing up 0.32% [2] - The Dow Jones increased by 0.6%, while the Nasdaq rose by 0.22% [2] Key Drivers - The People's Bank of China held a quarterly monetary policy meeting, emphasizing the need for integrated effects of incremental and stock policies to maintain low financing costs and stabilize the capital market [10] - On the same day, 4128 stocks in the A-share market rose, with 306 stocks increasing by over 5% [10] Industry Developments - The Chinese government released a document to support the construction of the Western Land-Sea New Corridor, proposing 21 key measures to enhance financial cooperation and support high-quality development [11] - The Ministry of Commerce continues to encourage foreign investment in advanced manufacturing, with a focus on sectors such as nucleic acid drug development and smart energy management systems [11] - A new fund for the commercial aerospace industry was launched, with an initial scale of 1-2 billion yuan, targeting investments in low-orbit satellite constellations and reusable launch vehicles [14]

央视网消息：国家发展改革委、商务部24日发布《鼓励外商投资产业目录（2025年版）》。新版目录将自2026年2月1日起施 行。 总条目1679条 与2022年版相比净增205条 新版《鼓励外商投资产业目录》，包括全国鼓励外商投资产业目录和地区外商投资优势产业目录。总条目共1679条，与2022年 版相比，净增加205条、修改303条。 新变化 优化对外资的方向性引导 新版目录鼓励引导外商投资先进制造业，新增或扩展终端产品、零部件、原材料等领域有关条目，提升产业链供应链发展水 平；鼓励引导外商投资现代服务业，新增或扩展商务服务、技术服务、科学研究、服务消费等领域有关条目，促进服务业高质量发 展；鼓励引导外商投资中西部地区、东北地区和海南省。 国家发展改革委外资司副司长 荆琴：持续提高引资质量、不断完善外商投资在国内的区域布局，展示了我国扩大国际合作的积 极态度。 为投资者提供清晰稳定透明的投资预期 《鼓励外商投资产业目录》是我国重要的外商投资促进政策，也是重要的外资产业和区域政策，而这也是2019年以来我国第四 次发布。 国家发展改革委宏观经济研究院对外经济研究所研究员 原倩：从供给侧看，修订扩大《鼓励目录》有 ...

Core Points - The State Development and Reform Commission and the Ministry of Commerce have released the "Encouragement Directory for Foreign Investment Industries (2025 Edition)", which will take effect on February 1, 2026, and includes a total of 1,679 entries, an increase of 205 entries compared to the 2022 version [1][3] - The new directory aims to encourage foreign investment in advanced manufacturing, modern services, and specific regions such as the central and western areas, Northeast China, and Hainan Province [1][4] Summary by Categories National Encouragement Directory - The national directory now contains 619 entries, with an increase of 100 entries and 131 modifications compared to the previous version [1] - It emphasizes the encouragement of foreign investment in advanced manufacturing, expanding entries related to terminal products, components, and raw materials to enhance the development level of the industrial chain and supply chain [1][4] Regional Encouragement Directory - The regional directory has 1,060 entries, with an increase of 105 entries and 172 modifications [1] - It aims to promote foreign investment in the central and western regions, Northeast China, and Hainan Province, taking into account local resource endowments, unique advantages, and industrial development realities [1][4] Key Changes - The directory has added or expanded entries in advanced manufacturing and modern service sectors, including business services, technical services, scientific research, and service consumption, to promote high-quality development in the service industry [1][4]

自1978年以来，约有743万中国留学生完成海外学业，主要分布在美国和西欧地区，其中644万人选择回 国发展。他们将全球科学技术带入中国的科研、技术和教育领域。他们的回归对塑造现代中国的创新格 局发挥了关键作用。 中国留学生为什么选择归国？多重因素促使他们叩响了家门。在美国等西方国家收紧签证政策、限制毕 业生在当地就业之际，中国出台多项措施吸引人才归国。政府提供系统性支持，比如提供就业指导、创 业机会，并在人工智能、先进制造业等重视国际经验的领域实施定向安置。对许多留学海外的毕业生而 言，回到中国是一个务实的选择，实实在在的机遇更多。 近日，中国教育部与全国首批50家单位合作，为海外学子回国就业创业搭建国家级服务平台，助力归国 人员就业创业。不少归国人才凭借过硬的专业素养与国际视野，在诸多领域受到青睐。（乔恒译） 《印度时报》12月20日文章，原题：海外求学热潮退去，中国学生为什么再度押注国内 中国学生曾经 怀揣留学梦想，西方大学的学位曾经被视为机遇与见识世界的承诺，一些中国家庭曾经满怀希望投资子 女海外求学。然而，这套剧本正在快速被改写。美国等西方国家签证政策收紧，就业前景萎缩，海外职 业发展的不确定性，正 ...

原标题：苦练内功把握发展主动权 从国内看，我国经济运行中的困难挑战仍然不少，供强需弱矛盾突出，重点领域风险隐患较多。这些大 多是发展中、转型中的问题，经过努力是可以解决的。巩固拓展优势、破除瓶颈制约、补强短板弱项， 集中力量办好自己的事，就能不断壮大自身实力、巩固拓展经济稳中向好势头，把握发展主动权。 全面增强自主创新能力，抢占科技发展制高点。发挥新型举国体制优势，加强关键核心技术攻关全链条 部署、体系化布局，缩短创新周期，尽快扭转关键核心技术受制于人的局面。强化科学研究、技术开发 原始创新导向，注重加强原始创新和颠覆性创新，从根本上解决原理性、基础性问题。完善区域创新体 系，统筹布局建设区域科技创新中心和产业科技创新高地，适应科技强国建设要求。推动创新资源向企 业集聚，促进科技创新和产业创新深度融合，强化企业科技创新主体地位。 日前召开的中央经济工作会议将"必须以苦练内功来应对外部挑战"，作为新形势下做好经济工作新的认 识和体会之一，为我们做好明年的经济工作提供了重要遵循和行动指引。 学习领会中央经济工作会议精神，切实把中央的决策部署贯彻好、落实好，坚定信心、用好优势、应对 挑战，在改革创新中破局开路，我们 ...

Core Insights - The "14th Five-Year Plan" period is marked as an extraordinary and significant five years for Binzhou City, focusing on high-quality development and achieving historical accomplishments in economic and social progress [1] Economic Growth - The regional GDP is projected to grow from 261.43 billion yuan in 2020 to 340.47 billion yuan in 2024, with an average annual growth rate of 6% [3] - The revenue from industrial enterprises above designated size has surpassed 1 trillion yuan, while total retail sales of consumer goods and total imports and exports have both exceeded 100 billion yuan [3] - General public budget revenue and tax revenue have both surpassed 30 billion yuan and 20 billion yuan, respectively [3] Income and Living Standards - Per capita GDP is expected to rise from 66,600 yuan in 2020 to 87,500 yuan in 2024, with an anticipated increase to over 90,000 yuan this year [3] - The income ratio between urban and rural residents has decreased from 2.09 in 2020 to 1.91 in 2024, indicating a significant reduction in income disparity [3] Industrial Development - The city has established itself as a stronghold for manufacturing, being recognized as one of the top 100 advanced manufacturing cities in the country for four consecutive years [4] - Key industries have shown robust growth, with five major industrial clusters generating over 1.27 trillion yuan in revenue, including high-end aluminum, fine chemicals, intelligent textiles, food processing, and aquaculture [4] - The production capacity of high-end aluminum ranks first globally, while intelligent textiles are among the top in the world [4] Emerging Industries - New industries such as high-end equipment and new materials are gaining momentum, with 32 enterprises recognized for their innovative products [5] - The proportion of high-tech industry output value in the total industrial output has reached 46.45%, an increase of 5.87 percentage points since 2020 [5] Digital Economy - The city has accelerated its digital economy initiatives, establishing the first intelligent computing cluster in the province and nurturing five national-level 5G factories [5] - A total of 517 projects related to smart manufacturing have been developed, including six national-level exemplary smart factories [5] Business Landscape - The number of industrial enterprises above designated size has increased to 2,040, with a net addition of 724 since 2020 [5] - In 2024, there are expected to be 44 enterprises with revenues exceeding 5 billion yuan and 17 with revenues over 10 billion yuan [5] - Weiqiao Group has been listed among the Fortune Global 500 for 14 consecutive years, with four companies making it to the top 500 Chinese enterprises [5]

Core Insights - The proposal outlines the development strategy for Shenyang during the 15th Five-Year Plan period, emphasizing the enhancement of the real economy and the promotion of intelligent, green, and integrated manufacturing [1][2] Group 1: Economic Development and Industry Upgrades - Shenyang aims to optimize and elevate traditional industries by advancing intelligent, green, and service-oriented manufacturing, and promoting the "smart transformation and digital upgrade" of manufacturing [2] - The city plans to cultivate emerging and future industries, focusing on innovative infrastructure, technology research and development, and large-scale application of new technologies and products [2] - Key industrial chains and advanced manufacturing clusters will be developed, with a focus on the automotive and parts industry, equipment manufacturing, aerospace, information technology, and renewable energy sectors [3] Group 2: Financial and Systemic Reforms - The proposal emphasizes the need for comprehensive economic system reforms, particularly in the financial sector, to enhance financial supply and support the development of various financial services [4] - It includes plans to optimize the financial institution system, expand financing scales in credit, bonds, and capital markets, and establish a multi-level investment fund system [4] - The initiative aims to improve the financial ecosystem by establishing a bad asset trading center and enhancing financial arbitration and mediation mechanisms [4]

中非青年参观三苏祠博物馆。 中非青年在四川老坛子食品有限公司学做泡菜。 12月10日至13日，由省对外友协、省政府新闻办、教育厅、团省委、省科协主办的2025中国（四川）—非洲 青年人文交流活动在成都、眉山两地举行。活动以"青春同行·共筑友谊"为主题，来自22个非洲国家以及巴基斯 坦、印度尼西亚的78名留学生与30名中国青年代表共同走进产业园区、乡村田野和文化地标，感受"十四五"期间 四川在科技创新、文化传承、现代农业等领域的发展成就，在多领域交流中深化文化互鉴。 点赞科技 中国的创新精神值得学习 12月10日，活动拉开序幕，中非青年先后走进四川科技馆、新川创新科技园、四川省制造业智改数转赋能平 台和成都市新津时代新能源科技有限公司，感受四川在科技创新与产业升级中的蓬勃态势。 在四川科技馆，航空航天展区成为焦点，360度自行车、三维滚环等航天员训练设备吸引青年们踊跃尝试。在 完成三维滚环体验后，成都理工大学尼日利亚留学生奥卢姆巴·威登表示："闭上眼睛也能感受到强烈的眩晕感， 很难想象航天员要长期接受这样的训练。"来中国仅3个月，他通过此次参访对中国式现代化有了更真切的体 会："中国的创新精神值得我们学习。" ...

导语："投资大家谈"是点拾投资的公益内容栏目，希望通过每周日不定期的推送，让更多人看到 基金经理对投资和市场的思考。"投资大家谈"栏目内容以公益类的分享为主，不带有基金产品的 代码和信息，也必须来自基金经理的内容创作。 也欢迎大家给我们投稿：azhu830 yeah.net！ 下面，我们分享来自鹏华基金的最新12月思考。年底权益市场进入短期震荡，但不改未来趋势， 短期调整或为投资者带来较好的为来年布局机会。当前债券市场虽然未出现明确主线，但利率并 未对四季度基本面的边际走弱和可能的流动性宽松定价，市场留有足够的宏观叙事空间。海外市 场，美股重拾升势，美元转弱，美债收益率下行，信用利差收窄。展望未来，主动权益、固定收 益、量化指数以及多元资产有哪些投资机会值得重点关注？本期月观，我们邀请了鹏华基本面投 资专家和大家一起分享最新的深度投资观点。 主动权益 王海青 鹏华基金研究部副总经理 市场向上趋势与主线并未改变，短期调整给投资者带来较好的为来年布局的机会。我们看好以科 技为代表的先进制造业，也看好以有色、化工为代表的周期以及非银方向。 年底市场进入短期震荡，但不改未来趋势。 市场在经历三季度科技主线大涨之后，上 ...

中经记者 慈玉鹏 北京报道 "十三五"末增长20.9%。累计培育国家制造业单项冠军38家，另有6家企业入选新一批公示名单，专精特 新"小巨人"企业累计达322家，重点分布在集成电路、航空航天、机器人、生物医药等新兴领域，优质 企业底盘不断壮大。产业链群加速融合，推动重点企业深度参与国家制造业重点产业链高质量发展行 动，取得一批标志性成果，为提升国家产业链供应链韧性和安全水平作出天津贡献。深耕高端装备、绿 色石化等12条重点产业链，围绕龙头企业配套需求，每年开展撮合对接超300场。累计培育11个国家级 中小企业特色产业集群、43家市级产业主题园区，产业集约集聚态势进一步凸显。 "十五五"时期，是天津深入推进新型工业化、加快发展新质生产力的重要时期。夏青林介绍，"我们将 深入贯彻落实党的二十届四中全会精神，按照市委十二届七次全会部署要求，大力发展先进制造业，加 速产业升级、动能转换，推动工业发展从'量的积累'向'质的跃升'进阶，加快建设制造强市。我们将坚 决扛起工业'挑大梁'的担子，进一步做大规模、做优结构、做高能级，以'工业之为'助推'全市之进'。我 们将统筹推进传统产业升级、新兴产业壮大、未来产业培育，打造' ...