近期，进一步促进民间投资发展的政策信号持续释放。专家表示，民间投资对稳就业稳经济具有重要作 用，需进一步拓宽民间投资空间，支持民企更好参与重大项目建设；同时，聚焦民企关切，严格落实招 标投标领域相关制度规定，营造公平竞争的市场环境。 引导民企"向新"发展 今年以来，各地各部门积极向民间资本推介项目。全国投资项目在线审批监管平台数据显示，截至9月 14日，全国正在向民间资本推介项目12126个、总投资额10.26万亿元。6月，国家发展改革委组织集中 向民间资本新推介项目3200余个、涉及项目总投资超3万亿元。 项目推介为民间资本注入强劲投资动力。为进一步拓展民企投资空间，一系列针对性的支持举措正酝酿 出台。国家发展改革委新闻发言人李超日前透露，将抓紧研究出台促进民间投资发展的政策举措，完善 民营企业参与国家重大项目建设长效机制，对铁路、核电、油气管道等领域重大项目设定民间投资参股 比例的最低要求，支持更多符合条件的民间投资项目发行基础设施REITs。 值得关注的是，在聚焦扩大民企传统重点领域投资空间的同时，政策加力引导民营企业向创新领域布 局，培育民间投资新增长点。9月12日召开的国务院常务会议提出，支持民间资 ...

Core Insights - Recent policies are aimed at promoting private investment, which is crucial for stabilizing employment and the economy [1][2] - There is a strong push for private enterprises to engage in major project construction and to expand their investment in innovative sectors [2][4] Group 1: Private Investment Promotion - As of September 14, there are 12,126 projects being promoted to private capital, with a total investment of 10.26 trillion yuan [1] - In June, over 3,200 new projects were introduced to private capital, involving more than 3 trillion yuan in total investment [1] - The National Development and Reform Commission (NDRC) plans to establish a long-term mechanism for private enterprises to participate in major national projects [1][2] Group 2: Focus on Innovation - Policies are being directed to encourage private investment in new production capabilities, emerging services, and new infrastructure [2] - The NDRC aims to leverage the flexibility and innovation of private enterprises to foster technological advancements [2] Group 3: Tendering and Bidding Reforms - The number of private enterprises winning bids in the engineering construction sector increased by 11.9% year-on-year, with 366,000 companies participating [3] - The NDRC is working on revising the bidding laws to enhance the management of bidding agents and to promote the use of AI in the bidding process [3] Group 4: Market Environment and Barriers - A fair competitive market environment is essential for stimulating private investment and promoting high-quality development of the private economy [3][4] - Recent policies have reduced market access negative lists, enhancing the confidence of private enterprises in market competition [4] - The government is encouraged to strengthen communication with enterprises and improve the supervision of policy implementation [4]

Group 1 - The core viewpoint emphasizes that stimulating private investment is crucial for stabilizing the economy and employment, as highlighted in the State Council meeting on September 12 [1] - The meeting outlines practical measures to address prominent issues faced by enterprises, focusing on expanding access, removing obstacles, and strengthening guarantees to further invigorate private investment [1][2] - Private enterprises contribute significantly to the economy, accounting for over 50% of tax revenue, 60% of GDP, 70% of technological innovations, and 80% of urban employment, underscoring the importance of private investment in economic development [1] Group 2 - To stimulate private investment, it is essential to eliminate barriers and create a fair competitive environment, as existing high entry thresholds and insufficient support for small and medium enterprises hinder investment enthusiasm [2] - Optimizing service guarantees and addressing financing challenges are critical for the growth of the private economy, requiring precise financial support strategies to assist small and micro enterprises and facilitate access to diverse financing options [2] - Guiding investment direction towards new productive forces, emerging service industries, and new infrastructure is vital for unlocking growth potential and enhancing economic structure, as stated in the meeting [3]

Group 1 - The core viewpoint emphasizes the importance of expanding domestic demand as a key measure for stabilizing economic growth, with a focus on consumer spending and investment [1][4][5] - The National Development and Reform Commission (NDRC) reported that the overall execution of economic and social development plans is satisfactory, with positive indicators in economic growth, employment, and consumption [2][3] - The government aims to maintain policy continuity and flexibility to stabilize employment, businesses, and market expectations, promoting both domestic and international circulation [3][4] Group 2 - The report highlights the need to implement actions to boost consumption, remove restrictive measures, and introduce policies to expand service consumption [4][6] - There is a call for a comprehensive policy framework to enhance consumer spending, including reforms in tax systems and local government incentives [6][8] - The government is focusing on enhancing the investment environment for private enterprises, which are crucial for stabilizing growth and employment [8][9] Group 3 - Private investment is identified as a vital engine for domestic demand, with a noted decline of 1.5% in private investment year-on-year, excluding real estate [8][9] - Specific sectors such as accommodation and catering, infrastructure, and cultural industries have shown positive growth in private investment, indicating potential areas for recovery [8][9] - The government plans to introduce policies to support private investment in major projects and enhance participation in infrastructure development [9][10]

Group 1: Support for Private Investment - The State Council emphasizes the importance of private investment in stabilizing employment and the economy, proposing practical measures to enhance private investment vitality and development [1] - Focus areas for private investment include new quality productivity, emerging service industries, and new infrastructure, which are characterized by high marketization, rapid technological iteration, and strong ties to people's livelihoods [2][3] - The government aims to create a fair competitive market environment by removing hidden barriers to private investment and strengthening innovation and financing support [1][3] Group 2: New Quality Productivity and Emerging Service Industries - New quality productivity is centered around technological innovation, including future industries like artificial intelligence and quantum technology, which require collaboration between private and public capital to manage risks and enhance efficiency [2] - Emerging service industries such as health care, digital consumption, and cultural creativity are expected to play a significant role in job creation and improving livelihoods, with private capital being agile in responding to diverse consumer needs [2] Group 3: New Infrastructure Investment - New infrastructure investments are characterized by large scales, long return cycles, and technology intensity, where private capital can introduce advanced management practices and flexible financial tools to enhance efficiency and risk diversification [3] - The government has been optimizing the policy environment to facilitate private investment, including relaxing market access and innovating financing models [3] Group 4: Overseas Comprehensive Service System - The meeting highlights the need to improve the overseas comprehensive service system to support Chinese enterprises in international cooperation and competition, addressing the challenges posed by geopolitical shifts and trade protectionism [4][5] - A comprehensive service support system is deemed necessary to meet the real needs of enterprises going abroad, enhancing their international competitiveness and supporting high-quality economic development [5][6] - The proposed system will integrate resources across legal, financial, and logistical services, establishing service platforms and overseas service stations to better support enterprises in their international endeavors [6]

第四个消息，近期国常会强调将出台进一步促进民间投资发展的若干措施，拓展民间投资空间，重点支 持民间资本加大对新质生产力、新兴服务业、新型基础设施等领域的投资。此外，国常会还强调将加快 生物医药技术的研发和成果转化应用。这些方案有助于形成短期向上推动预期，因此也算利好。 最后一个消息，昨日监管部门严肃查处了东方通的严重财务造假案。此前已对此进行过解读，此处不再 赘述。只希望民间赔偿机制能尽快建立，将投资者损失降到最低。无论如何，这一消息有助于推动市场 公平公正，对市场中长期向好构成利好。 9月14日，和讯投顾高璐明称，对周末重磅消息进行解读，看看这两天国内外市场发生了哪些重要大 事，以及这些大事将如何影响下周市场走势。 第一个消息，今日中、美将在西班牙进行关税和贸易会谈，主要讨论美方单边关税措施及"301调查"等 相关问题。这标志着贸易谈判再次开启，从今日起需密切关注会谈结果，因其将影响短期市场走势。若 会谈顺利，将对下周市场形成积极促进作用；若会谈不顺，则可能引发市场短期震荡和波动，因此需持 续关注。 第二个消息，昨晚美方再次出手，将国内多家实体列入管制出口黑名单。随后，商务部决定对原产于美 方的相关模拟芯片 ...

Group 1 - The State Council emphasizes the importance of private investment in stabilizing employment and the economy, proposing practical measures to stimulate private investment activity [1] - Private investment growth turned negative for the first time in 2023, with a cumulative growth rate of -0.6% from January to June and further declining to -1.5% by July [1] - Excluding real estate development investment, private project investment showed a year-on-year growth of 3.9% from January to July, with notable increases in accommodation and catering (19.6%), infrastructure (8.8%), and cultural, sports, and entertainment sectors (8.1%) [1] Group 2 - The National Development and Reform Commission is committed to expanding domestic demand and enhancing private investment through policy measures, including setting minimum private investment ratios for major projects [2] - Experts suggest that stabilizing the real estate market is crucial for boosting private investment, advocating for relaxed purchase restrictions and increased efforts in affordable housing and urban renewal [2] - There is a call for optimizing the business environment by removing investment barriers and enhancing opportunities for private capital in sectors like healthcare, education, and new infrastructure [3] Group 3 - The need to expand effective demand and investment is highlighted, with a focus on government investment in key areas to stimulate social investment [3] - Accelerating the development of the service industry is essential, with recommendations to reduce unnecessary pre-approval conditions and encourage social capital participation [3] - The promotion of a "negative list" management approach is suggested to attract social capital by eliminating discriminatory policies in healthcare, elderly care, and education sectors [3]

稳经济大盘，民间投资的重要性再度被强调。 9月12日，国务院常务会议指出，要实施一批务实举措，进一步激发民间投资活力、促进民间投资发 展。 相关措施直指企业关切的突出问题，从扩大准入、打通堵点、强化保障等多方面入手，旨在让民营企业 敢投资、有回报。 民间投资是稳增长、调结构、促就业的重要支撑力量。 2025年以来，民间项目投资整体平稳增长。从中央到地方，对民营经济的相关支持力度进一步加大。 在强化保障上，会议在招投标、政府采购、预算内投资打出组合拳。 会议提出，要严格落实招标投标领域相关制度规定，保障中小企业政府采购预留份额，加大中央预算内 投资等对民间投资项目的支持力度。 这表明，民间投资项目将获得更多中央预算内投资的支持，中小企业将在政府采购中获得更多份额。招 投标领域的制度规定将进一步落实，确保公平竞争环境。 2024年8月，国家发展改革委等四部门已专门印发文件，决定建立以统计数据为基础，以重点项目为抓 手，以政策为支撑的促进民间投资资金和要素保障工作机制。 国家统计局数据显示，2025年上半年民间投资在制造业和基础设施方面分别增长6.7%和9.5%。不难看 出，制造业和基础设施领域是民间投资的主战场。 ...

Group 1 - The core viewpoint emphasizes the importance of private investment as a key driver for stabilizing economic growth and employment [2][3] - The State Council meeting led by Premier Li Qiang on September 12 outlined measures to promote private investment, focusing on addressing enterprise concerns and expanding investment opportunities [3][4] - The National Development and Reform Commission (NDRC) plans to introduce policies to facilitate private investment in major national projects, including minimum shareholding requirements for private capital in significant sectors like railways and nuclear power [3][4] Group 2 - Private investment in China, excluding real estate, grew by 3.9% in the first seven months of this year, with notable increases in sectors such as accommodation and catering (19.6%), infrastructure (8.8%), and culture, sports, and entertainment (8.1%) [4] - The NDRC's project promotion platform currently showcases 12,128 projects with a total investment of 10.26 trillion yuan, covering both traditional sectors and emerging industries like artificial intelligence and low-altitude economy [4] - Recent trends indicate a strong interest from private capital in new and future industries, with a focus on sectors such as new infrastructure, artificial intelligence, and quantum information [5] Group 3 - The government aims to create a fair competitive market environment by eliminating hidden barriers to private investment and enhancing innovation and financing support [7] - The release of the "Negative List for Market Access (2025 Edition)" aims to simplify market entry for private enterprises, with a focus on reducing restrictions and enhancing transparency [7][8] - Ongoing efforts to clear market access barriers are intended to establish a stable and predictable development environment for private enterprises, encouraging them to invest in broader fields [8]

Group 1: Flood Control and Disaster Relief - The meeting emphasized the importance of maintaining vigilance in flood control and disaster relief efforts, especially in light of recent extreme rainfall and flooding in northern regions [1] - It was noted that while the critical flood period has passed, risks from flooding and typhoons still persist, necessitating ongoing preparedness and response measures [1] - The meeting called for enhanced collaboration among departments and a focus on supporting affected communities through recovery and drought mitigation efforts [1] Group 2: Promotion of Private Investment - The meeting highlighted the crucial role of private investment in stabilizing employment and the economy, proposing practical measures to address key concerns of enterprises [2] - It was proposed to expand the scope for private investment, particularly in new productive capacities, emerging service industries, and new infrastructure projects [2] - The government aims to create a fair competitive market environment by removing hidden barriers to private investment and enhancing innovation and financing support [2] Group 3: Biomedical Technology Development - The meeting underscored the need to promote innovation in biomedical technology, accelerating research and the application of results to enhance the biopharmaceutical industry [3] - It was emphasized that development and safety must be balanced, with a focus on legally regulating clinical research to ensure quality and safety in clinical applications [3] - The goal is to effectively mitigate various risks while ensuring that innovative outcomes contribute to the health and well-being of the population [3]