Core Viewpoint - The article highlights the significant progress and achievements in the integration and development of the Chengyu Twin City Economic Circle, particularly focusing on the collaboration between Dazhou, Wanzhou, and Kaizhou, which has led to economic growth and improved infrastructure in the region [1][2]. Economic Development - The Dazhou-Wanzhou-Kaizhou region has seen a vibrant economic growth, with the GDP projected to reach 474.54 billion yuan in 2024, accounting for 32.9% of the Northeast Sichuan-Chongqing region, an increase of 2.5 percentage points since 2019 [2]. - The region has established three major industrial clusters: advanced materials worth 80 billion yuan, energy chemicals worth 70 billion yuan, and food and medicine worth 20 billion yuan, driven by over 50 key enterprises [3]. Infrastructure and Transportation - Dazhou has invested 85.23 billion yuan in transportation construction from 2022 to 2024, achieving several provincial firsts in investment completion rates [5]. - A comprehensive transportation network has been developed, enabling a "one-hour city" and "two-hour Chengyu" traffic circle, enhancing connectivity with Chongqing and surrounding areas [6]. Agricultural and Tourism Development - The region has developed modern efficient agricultural zones, with the total output value of characteristic agriculture reaching 98.85 billion yuan in 2024, a year-on-year increase of 1.6% [4]. - Tourism has flourished, with 70.78 million visitors expected in 2024, a 14.1% increase, and total tourist spending projected to reach 70.85 billion yuan, up 26% [4]. Environmental and Public Services - Collaborative efforts have led to significant ecological improvements, such as the successful governance of the Tongbo River, with a joint investment of 689 million yuan [7]. - Public services have become more equitable, with 37 new cross-regional administrative services introduced, enhancing convenience for residents across the three regions [8]. Future Planning - The region is preparing for a new five-year plan, focusing on economic integration and infrastructure development, including the construction of the Chengxuan-Dalian Expressway and water resource allocation projects [9]. - Collaborative initiatives are set to continue, with plans for a high-tech industrial park and further integration of agricultural development across the regions [10].

Group 1 - The development of the "33618" modern manufacturing cluster in Chongqing is driving the transformation towards high-end, intelligent, and green industries, with the capital market playing a crucial role in this process [1] - Since 2020, Chongqing has added 27 new domestic listed companies, with 25 being technology-oriented, indicating a strong focus on supporting high-quality technology innovation enterprises [1][2] - By May 2025, the scale of private equity investment in high-tech and startup companies in Chongqing reached 27.719 billion yuan, a 125% increase from 2021, highlighting the growing support for technology enterprises [3] Group 2 - The total market capitalization of 78 listed companies in Chongqing reached 1.05 trillion yuan by the end of 2024, with two companies exceeding 100 billion yuan, showcasing the strength of the local economy [4] - The manufacturing sector demonstrated resilience, with 10 automotive and motorcycle companies reporting a combined net profit of 15.339 billion yuan, which constitutes nearly 70% of the net profit of Chongqing's real economy [4] - In 2024, 61 listed companies distributed cash dividends totaling 25.018 billion yuan, a 49.83% increase year-on-year, reflecting the financial health of these companies [4] Group 3 - Chongqing Securities Regulatory Bureau has implemented various measures to enhance the quality of listed companies, including signing cooperation memorandums and conducting comprehensive surveys to address companies' needs [5][6] - The bureau has established a collaborative mechanism with Sichuan's regulatory body to promote coordinated development in the Chengdu-Chongqing economic circle, enhancing regional industrial synergy [6][7] - Future efforts will focus on supporting quality enterprises to go public, promoting mergers and acquisitions, and enhancing the issuance of innovative bonds to facilitate industrial upgrades [8][9][10]

Core Viewpoint - Chongqing Bank has made significant progress in its operations and financial performance in 2025, achieving a total asset milestone of 1 trillion yuan and positioning itself as a leading city commercial bank in China [3][5]. Group 1: Financial Performance Highlights - As of July, the total assets of Chongqing Bank reached 1,008.7 billion yuan, marking it as the first city commercial bank in China to exceed this threshold [5]. - The bank's deposits and loans exceeded 540 billion yuan and 500 billion yuan, respectively, with year-to-date growth rates of 14.8% and 13.6% [5]. - The bank reported a revenue of nearly 7.7 billion yuan, net interest income exceeding 5.8 billion yuan, and a net profit close to 3.4 billion yuan, reflecting year-on-year growth of 7%, 12.2%, and 5.7% respectively [5]. Group 2: Strategic Initiatives and Market Position - The bank has actively supported national strategies such as the Chengdu-Chongqing Economic Circle and the Western Land-Sea New Corridor, providing nearly 140 billion yuan in credit support for regional projects [6][11]. - Chongqing Bank's loan growth in the first half of the year was 60 billion yuan, leading the financial institutions in Chongqing with a market share of 5.22%, an increase of 0.54 percentage points [5]. - The bank has implemented over 30 measures to support high-quality development in manufacturing and private sectors, with manufacturing loans growing by 26% year-on-year [6][12]. Group 3: Risk Management and Operational Efficiency - The bank's non-performing loan ratio stood at 1.17%, with a coverage ratio of 248.3%, indicating improved asset quality [5][19]. - The bank has enhanced its risk management framework, introducing new customer rating models and improving risk identification and disposal capabilities [19]. - The bank's net interest margin increased by 4 basis points to 1.39%, supported by effective asset-liability management [8][19]. Group 4: Innovation and Digital Transformation - Chongqing Bank has focused on digital innovation, enhancing its digital credit products and achieving a 35% increase in its digital loan offerings [8][14]. - The bank has developed a data-driven service system, improving customer acquisition efficiency by 28% and tripling the efficiency of its authorization review process [9][14]. - The bank has also launched new financial products, including green loans and specialized credit products for small and micro enterprises, contributing to a 99 billion yuan increase in inclusive loans [12][14].

Core Viewpoint - The company reported a decline in revenue and net profit for the first half of 2025, with a focus on improving order execution and maintaining a stable profit scale in the future [1][4]. Financial Performance - In 25H1, the company achieved revenue of 43.536 billion yuan, a year-over-year decrease of 4.91%, and a net profit attributable to shareholders of 2.780 billion yuan, down 13.00% year-over-year [1]. - The second quarter (Q2) saw revenue of 20.550 billion yuan, a year-over-year decline of 13.21% and a quarter-over-quarter decline of 10.60% [1]. - The comprehensive gross margin for 25H1 was 14.5%, down 1.38 percentage points year-over-year, with Q2 gross margin also at 14.5%, reflecting similar declines [2]. Order and Project Development - The company secured new orders totaling 72.2 billion yuan in 25H1, representing a year-over-year increase of 22.2%, with Q2 showing a significant acceleration compared to Q1 [4]. - The company benefited from regional investment demands, particularly in Sichuan, with a notable increase in orders from both domestic and international markets [4]. Cost Management and Cash Flow - The operating expense ratio improved to 5.68% in 25H1, down 1.04 percentage points year-over-year, with significant reductions in various expense categories due to the exclusion of certain subsidiaries [3]. - The net cash flow from operating activities was -4.284 billion yuan, a decrease in outflow of 439 million yuan year-over-year, indicating improved cash management [3]. Profit Forecast and Valuation - The company maintains profit forecasts for 2025-2027 at 8.007 billion, 8.386 billion, and 8.727 billion yuan respectively [5]. - The target price is set at 11.95 yuan, reflecting a price-to-earnings ratio of 13x for 2025, supported by a higher dividend yield compared to peers [5].

Core Points - The establishment of the Sichuan-Chongqing Gaozhu New Area Integrated Litigation Service Center marks a significant step in providing enhanced judicial services across regional boundaries [1][2] - The center features eight functional areas, including a one-stop service window, self-service area, mediation area, and cross-regional mediation room, aimed at improving accessibility for the public [1] - The center utilizes intelligent models and case databases to offer comprehensive litigation risk analysis and case information to users [1] Summary by Sections - **Service Features** - The center provides one-stop self-service litigation services, including the generation of litigation documents and application for case filing [1] - It includes a self-service station that offers access to the latest litigation risk analysis and case studies [1] - Cross-regional mediation resources have been introduced, enhancing the quality of mediation services available to the public [1] - **Strategic Importance** - The center's establishment aligns with the central government's initiatives for the Chengdu-Chongqing economic circle and supports local governance strategies [2] - Future plans include optimizing litigation service mechanisms and deepening judicial collaboration between the two regions [2] - The initiative aims to contribute to the legal framework supporting the modernization of the Chongqing region [2]

Core Viewpoint - The signing of the "Strategic Cooperation Framework Agreement" between Sichuan and Chongqing aims to enhance water resource management and cooperation in the Chengdu-Chongqing economic circle, focusing on high-quality development and regional water security [1][2][3]. Group 1: Strategic Cooperation Agreement - The agreement outlines key areas for collaboration, including improving flood prevention systems, accelerating major water network projects, enhancing ecological protection, advancing digital integration, and fostering innovative governance [1][2]. - The agreement serves as a guiding framework for the future development of water resources in the region, emphasizing a systematic and integrated approach to water management [1][3]. Group 2: Goals and Principles - The cooperation is driven by the principle of "complementary advantages, co-construction and sharing, collaborative linkage, and mutual benefit," aiming to create a unified strategy for water resource management [2][3]. - Key focus areas include collaborative planning, ecological protection, integrated supervision, digital empowerment, and resource sharing to enhance regional water security [2][3]. Group 3: Future Initiatives - The "Happy Rivers and Lakes Cooperation Agreement" aims for the rivers in the region to achieve excellent water quality standards by 2035, with a target of maintaining a 100% compliance rate for cross-border river water quality [4]. - The "Integrated Supervision Framework Agreement" emphasizes comprehensive cooperation in water resource supervision, including shared expert resources and mutual recognition of supervisory outcomes [4].

Core Perspective - The article "New Song of the Shu Road" published by People's Daily highlights the significance of the Shu Road as a symbol of China's modernization, intertwining historical depth with contemporary relevance [1][2]. Group 1: Why Shu Road? - The Shu Road serves as a unique combination of historical depth, geographical identity, and cultural symbolism, making it a fitting subject for grand narratives of modernization [2]. - The tangible aspect of the Shu Road represents the efforts of Sichuan people to overcome geographical limitations, while the intangible aspect symbolizes openness and connectivity [2]. Group 2: Creative Process - The creation of "New Song of the Shu Road" involved a collaborative effort from a strong team, emphasizing the importance of deep understanding of Xi Jinping's thoughts and directives related to Sichuan [3][4]. - The article aims to transcend traditional transportation perspectives, becoming a comprehensive observation window for high-quality development and open markets [3]. Group 3: Storytelling Approach - The creative team focused on real-life stories and case studies to illustrate the depth and warmth of the Shu Road narrative, showcasing individual experiences intertwined with broader themes [4][5]. - The article emphasizes the transformation in development concepts, environmental protection, and business environments, reflecting the evolving landscape of Sichuan [5][6]. Group 4: Reporting Mechanism - The article is the first product of a new reporting mechanism established by People's Daily, aimed at enhancing the quality and relevance of media narratives [7]. - The mechanism focuses on deep research and practical insights, striving to produce impactful and engaging stories that resonate with readers [7]. Group 5: Long-term Commitment - The creative team dedicated two years to refine the article, emphasizing a commitment to quality and the portrayal of Sichuan's journey towards modernization [8]. - The narrative encapsulates the spirit, people, and aspirations of Sichuan, aiming to continue exploring untold stories in the future [8].

Core Insights - The Chengdu-Chongqing economic circle has achieved significant economic growth, with a total economic output exceeding 8.7 trillion yuan, and both provinces are expected to reach a GDP of 10 trillion yuan this year [6][7]. Economic Development - The construction of important economic centers has made new progress, optimizing regional economic layout, with the economic total of the dual-city economic circle increasing by 0.2 percentage points in its share of the national economy [7]. - The automotive and electronic information industries are among the four trillion-yuan industrial clusters being developed [7]. Technological Innovation - The establishment of a technological innovation center has progressed, with 257 key R&D projects implemented and over 14,000 large scientific research instruments shared [8]. - The Chengdu-Chongqing area has become a national model for cross-regional collaborative innovation [8]. Financial Development - The financial center in the western region has seen significant growth, with over 3,000 financial institutions and more than 250 listed companies in the area [8]. - The loan balance in the two provinces has reached 17.8 trillion yuan, marking a 57% increase since the beginning of the 14th Five-Year Plan [8]. Reform and Opening Up - A new highland for reform and opening up has been established, with 197 reform measures implemented and 17 innovative market integration reforms promoted nationwide [8]. - The total import and export volume of the two provinces has exceeded 1.7 trillion yuan [8]. Cultural and Tourism Development - The construction of the Bashu cultural tourism corridor has become a new landmark for regional tourism consumption, with over 1 billion mutual visits between tourists from both provinces annually [9]. - The two provinces aim to receive over 1.5 billion tourists in 2024, with 71 premium tourism routes developed [9]. Quality of Life Improvements - The quality of life in the western region has improved, with 355 "Chuan-Yu Tongban" service items launched, handling over 20,000 inquiries daily [9].

Core Viewpoint - The Chengdu-Chongqing Economic Circle is making significant progress in its development, with both regions collaborating on various projects and initiatives to enhance economic growth and quality of life for residents [2][6]. Economic Development - In the first seven months of the year, Sichuan and Chongqing completed investments of 294.5 billion yuan in 320 collaborative projects, achieving a completion rate of 66.7% [2] - The regions are working together to create a "Shu Li An Yi · Yu Yue Consumption" brand and develop a cultural tourism corridor, aiming to establish a world-renowned tourist destination [2] - Collaborative efforts are focused on building trillion-yuan industrial clusters in sectors such as electronic information, equipment manufacturing, and advanced materials [2] Technological Innovation - Sichuan and Chongqing have established eight new key laboratories and hosted a high-level "Belt and Road" technology exchange conference, launching the "Double Thousand" plan for technology cooperation [3] - A total of 103 important results and new plans were released, leading to technology transactions and project investments amounting to 4.6 billion yuan [3] Reform and Opening Up - The two regions are deepening reforms, including the separation of economic and administrative zones, and have adjusted airspace structures, adding 18 new flight routes [4] - From January to July, the passenger throughput at the Chengdu-Chongqing aviation hub reached 80.927 million, a year-on-year increase of 3% [4] - The China-Europe Railway Express (Chengdu-Chongqing) has maintained its position as the national leader with nearly 3,000 trains operated in the first half of the year [4] Quality of Life Improvements - Collaborative efforts have led to the implementation of 355 "Chuan-Yu Tong Ban" services, enhancing public employment services and promoting integrated urban-rural education [5] - Initiatives in pension insurance and medical services have been introduced to better serve the population [5] Future Plans - The two regions are preparing for the next five-year plan, aiming to elevate their combined economic output to over 10 trillion yuan [6] - Emphasis will be placed on regional collaboration, creating a significant economic center, a technology innovation hub, and a high-quality living environment [6] - Plans include establishing a unified monitoring system for key industry indicators and enhancing cross-regional administrative reforms [6][7]

Core Viewpoint - The article highlights the significant role of the Bank of Communications Sichuan Branch in supporting the construction of the Chengdu-Chongqing economic circle, emphasizing its commitment to providing financial support for major projects and contributing to regional economic development [1][2]. Financial Support and Commitment - The Bank of Communications Sichuan Branch signed a strategic cooperation agreement with the Sichuan provincial government in September 2021, pledging to provide 800 billion yuan in special credit support during the 14th Five-Year Plan period, focusing on six key areas [1]. - As of mid-2025, the Sichuan Branch has provided over 50 billion yuan in credit support for major projects within the Chengdu-Chongqing economic circle [1]. Project Financing and Economic Impact - In 2024 alone, the Sichuan Branch granted over 10 billion yuan in credit for 13 key projects in Chengdu [1]. - The branch's loan balance exceeded 240 billion yuan by mid-2025, reflecting its extensive support for local enterprises and individuals [1]. Innovation in Financial Services - The Sichuan Branch has developed a multi-layered service system tailored to six key industries, including electronic information and equipment manufacturing, enhancing its support for medium-sized clients [1]. - The introduction of innovative financial products, such as "Science and Technology Quick Loan," has facilitated funding for technology-driven enterprises, with an increase of 2.256 billion yuan in inclusive loans by mid-2025 [1]. Collaboration and Regional Development - The Sichuan and Chongqing branches of the Bank of Communications have engaged in frequent interactions, conducting 11 mutual visits in 2024 and co-hosting financial innovation summits to explore new cross-border financial services [1]. - A flexible working team was established to enhance collaboration between the two branches, resulting in over 1.8 billion yuan in credit support for joint projects [1]. Community and Social Responsibility - The Sichuan Branch has expanded its partnerships with local governments, establishing connections with 21 cities and over 20 provincial departments to enhance financial services across the region [1]. - The branch has actively engaged with over 40 enterprises to understand their needs and develop new service models, demonstrating its commitment to integrating financial services with local industry [2].