Core Viewpoint - The release of the "Encouragement Directory for Foreign Investment Industries (2025 Edition)" aims to attract and utilize foreign investment more effectively, focusing on advanced manufacturing, modern services, high-tech, and energy-saving sectors, particularly in the central and western regions and Northeast China [1][2]. Group 1: Changes in the Encouragement Directory - The 2025 edition of the Encouragement Directory includes a total of 1,679 entries, an increase of 205 entries and modifications to 303 entries compared to the 2022 edition [1]. - The national directory consists of 619 entries, with 100 new additions and 131 modifications, while the regional directory for central and western areas includes 1,060 entries, with 105 new additions and 172 modifications [1]. Group 2: Focus Areas for Foreign Investment - The new directory emphasizes three main areas for foreign investment: advanced manufacturing, modern services, and investment in the central and western regions, Northeast China, and Hainan Province [2]. - New entries in the manufacturing sector include cutting-edge fields such as nucleic acid drug development, zero-magnetic medical equipment, intelligent detection equipment, underwater robotics, and key components for robots [2]. Group 3: Service Sector Development - The directory highlights the development of productive service industries, adding new categories such as new materials technology platforms, modern high-end shipping services, and virtual power plant operations, while also supporting service consumption in areas like pet services, sports tourism, and internet-based healthcare [2][3]. Group 4: Regional Coordination and Development - The directory aims to promote regional coordinated development by expanding the encouragement scope based on local resources and industry characteristics, with new entries for various provinces, including cruise tourism in Liaoning and ice and snow equipment in Heilongjiang [3]. - Measures to attract foreign investment in the central and western regions include prioritizing land supply for industrial projects and offering tax incentives, which are expected to enhance local economic growth and strengthen the resilience of China's industrial supply chain [3]. Group 5: Implementation and Environment - The National Development and Reform Commission will work with relevant departments to ensure the effective implementation of the policy measures and create a market-oriented, law-based, and international business environment for foreign investors [4].

Core Viewpoint - The release of the "Encouragement Directory for Foreign Investment Industries (2025 Edition)" aims to attract and utilize foreign investment more effectively, focusing on advanced manufacturing, modern services, high-tech, and environmental protection sectors, particularly in the central and western regions and Northeast China [1][2]. Group 1: Changes in the Encouragement Directory - The 2025 edition of the Encouragement Directory includes a total of 1,679 entries, an increase of 205 entries and 303 modifications compared to the 2022 edition [1]. - The national directory consists of 619 entries, with 100 new entries and 131 modifications, while the regional directory for central and western areas has 1,060 entries, with 105 new entries and 172 modifications [1]. Group 2: Focus Areas for Foreign Investment - The new directory emphasizes encouraging foreign investment in advanced manufacturing, modern services, and specific regions such as the central and western areas, Northeast China, and Hainan Province [2]. - New entries in the manufacturing sector include cutting-edge fields such as nucleic acid drug development, zero-magnetic medical equipment, intelligent detection equipment, underwater robots, and key components for robots [2]. Group 3: Service Sector Development - The directory highlights the development of productive service industries, adding new categories such as new materials technology platforms, modern high-end shipping services, and virtual power plant operations [2]. - It also supports the enhancement of service consumption by including categories like pet services, sports tourism, property services, and internet-based healthcare services [2]. Group 4: Regional Coordination and Development - The directory aims to promote regional coordinated development by expanding the encouragement scope based on local resources and industry characteristics [3]. - New entries for specific provinces include cruise tourism in Liaoning, ice and snow equipment in Heilongjiang, high-end intelligent lifting machinery in Henan, marine environmental governance in Hainan, computing power hardware in Guizhou, and wind power operations in Qinghai [3]. Group 5: Future Implementation - The National Development and Reform Commission will coordinate with relevant departments to ensure the implementation of policy measures and create a market-oriented, law-based, and international business environment for foreign investors [4].

大会审议新增会员和理事单位名单，新增理事单位为圣奥科技股份有限公司、杭州高新知识产权运营有 限公司、浙江长龙航空股份有限公司、杭州老板电器（002508）股份有限公司、杭州跨知通知识产权服 务有限公司。同时，浙江金杜智源知识产权代理有限公司、浙江省北大信息技术高等研究院和浙江工业 大学荣获2025年优秀理事单位，圣奥科技股份有限公司、杭州超凡知识产权代理有限公司和北京三聚阳 光知识产权代理有限公司杭州分公司荣获2025年优秀会员单位。 下一步，杭州市知识产权促进会将紧扣高质量发展主线，织密"政产学研金介用"协同网络，在杭州特色 知识产权治理体系中勇当探路者（300005）、排头兵，为制度创新输出"杭州经验"，为产业升级注 入"知产动能"，为创新主体输送"金融活水"。 杭州市市场监督管理局党委委员、副局长林霄指出，面对新命题、新挑战和新要求，杭州市知识产权促 进会要积极聚焦城市定位，聚力转化运用，聚能开放协同，聚焦行业引领。 商报讯(通讯员曹秀燕记者毛雨希)近日，杭州市知识产权促进会2025年会员大会暨第二次理事会召开。 杭州市知识产权促进会2025年第二次理事会重点审议并表决了社团内部管理制度、增补会员、年度 ...

Core Viewpoint - The release of the "Encouragement Directory for Foreign Investment Industries (2025 Edition)" aims to attract and utilize foreign investment more effectively, focusing on advanced manufacturing, modern services, high-tech, and environmental protection sectors, particularly in the central and western regions and Northeast China [1][2]. Group 1: Changes in the Encouragement Directory - The 2025 edition of the Encouragement Directory includes a total of 1,679 entries, an increase of 205 entries and 303 modifications compared to the 2022 edition [1]. - The national directory consists of 619 entries, with 100 new additions and 131 modifications, while the regional directory for central and western areas has 1,060 entries, with 105 new additions and 172 modifications [1]. Group 2: Focus Areas for Foreign Investment - The new directory emphasizes three main areas for foreign investment: advanced manufacturing, modern services, and investment in central and western regions, Northeast China, and Hainan Province [2]. - New entries in the manufacturing sector include cutting-edge fields such as nucleic acid drug development, zero-magnetic medical equipment, intelligent detection equipment, underwater robots, and key components for robots [2]. Group 3: Service Sector Development - The directory highlights the development of productive service industries, adding new categories such as common technology platforms for new materials, modern high-end shipping services, and virtual power plant operations [2]. - It also supports the enhancement of service consumption by including categories like pet services, sports tourism, property services, and internet-based healthcare services [2]. Group 4: Regional Coordination and Development - The directory aims to promote regional coordinated development by expanding the encouragement scope based on local resources and industrial characteristics [3]. - New entries for specific provinces include cruise tourism in Liaoning, ice and snow equipment in Heilongjiang, high-end intelligent lifting machinery in Henan, marine environmental governance in Hainan, computing power hardware in Guizhou, and wind power operations in Qinghai [3]. Group 5: Future Implementation - The National Development and Reform Commission will coordinate with relevant departments to ensure the effective implementation of the policy measures [4]. - Efforts will be made to create a market-oriented, law-based, and international business environment to attract more multinational companies to invest in China [4].

南开大学金融发展研究院院长田利辉表示，2025年以来，A股定增市场呈现显著的量价齐升态势，已成 为上市公司融资的绝对主渠道。定增市场已从简单的"补血"手段，升级为产业升级与整合的重要资本平 台。 ● 本报记者 吴玉华 今年以来，A股上市公司定增显著活跃。Wind数据显示，截至12月24日（按发行日期计），今年以来A 股市场已有148家上市公司定增落地，增发股份数量合计为1010.20亿股，增发募资总额为7888.95亿元， 同比增长455.31%，来自电子、电力设备、通信、计算机等科技板块的上市公司数量较多。 分析人士认为，政策"组合拳"精准发力，为定增市场注入源头活水。2025年以来，A股定增市场呈现显 著量价齐升态势，硬科技与新兴产业成为核心聚焦领域，2026年定增市场维持较高活跃度的可能性较 大。 募资额同比增逾四倍 今年以来，A股上市公司定增显著活跃。 Wind数据显示，截至12月24日，今年以来A股市场共有438家上市公司发布定增预案公告，按定增发行 日期计算，已有148家上市公司定增落地，增发股份数量合计为1010.20亿股，增发募资总额达7888.95亿 元。而在2024年同期，仅有128家上市 ...

第三，促进贸易平衡。目前我们的顺差太大了，今年已经高达1万亿美元。如此巨额的顺差是好事也是坏事。这说明中国产品的竞争力太强了。可是另外一 方面也会让我们手里积攒下大量的美元。现在适当让人民币升值，可以调整我们的贸易结构，调整进出口双向平衡。 黄奇帆说人民币十年内将升值到6.0，这事真的会发生么？为什么过去我们都希望人民币汇率稳定，现在却要推进人民币升值呢？推动人民币升值背后的动 力又是什么呢？ 对于很多不做外贸生意，或者家里人没人留学的朋友来说，大部分人都觉得汇率离自己非常远，可是实际上人民币汇率的变动，对每一个中国人都会有巨大 的影响，只要你使用人民币，那汇率变动就会影响我们每一个人。 过去我们常常说，人民币升值会导致我们出口竞争力减弱，因此过去20年，我们一直都是倡导人民币汇率稳定。不管是快速升值，还是贬值，对我们这样的 缺乏资源的出口大国来说，都是非常不友好的。快速升值会让我们出口竞争力下跌，快速贬值又会让我们进口能源跟原材料的成本上涨。 那既然汇率大幅度变动对我们影响很大，现在为何又要推动人民币升值呢？第一，推动人民币稳步上涨，可以降低能源跟原材料采购成本。虽然说人民币升 值了，我们的出口竞争力会下降 ...

Group 1 - The core viewpoint highlights the significant growth and development of the Qingdao capital market during the "14th Five-Year Plan" period, establishing itself as a stabilizing force for high-quality regional economic development [1] - The number of listed companies in Qingdao has increased to 65, ranking third among northern cities, with a historical high in the reserve of companies planning to go public [1] - The innovation layer of the New Third Board has seen a 133% increase compared to the end of the "13th Five-Year Plan," and over 3,500 companies have been served by the regional equity market [1] Group 2 - Direct financing in the Qingdao capital market exceeded 600 billion yuan, with technology innovation bonds totaling 13.9 billion yuan and R&D expenditures doubling to 21.7 billion yuan [2] - The issuance of REITs has marked a breakthrough, and the scale of asset-backed securities (ABS) financing has tripled compared to the "13th Five-Year Plan" period [2] - The overseas business revenue of Qingdao listed companies reached 960.6 billion yuan in the first half of this year, a 58% increase compared to the "13th Five-Year Plan" period [2]

Core Viewpoint - The article emphasizes the importance of technological innovation and industrial upgrading in driving high-quality development in the Binzhou Economic and Technological Development Zone, highlighting the establishment of high-level innovation platforms and the integration of industry, academia, and research to foster sustainable growth [3][10][12]. Group 1: Technological Innovation - Binzhou Economic and Technological Development Zone is focused on building a "four-in-one" innovation system that includes high-level innovation platforms, talent teams, integrated production clusters, and high-quality innovation ecosystems [3]. - The zone has established the largest aluminum industry cluster globally, with significant advancements in research capabilities, such as the establishment of the first provincial laboratory by a private enterprise in Shandong [4]. - The zone has actively supported technology-driven enterprises, with over 20 million yuan allocated for various technology projects and loans expected to reach 64 million yuan for small and medium-sized enterprises [5]. Group 2: Industrial Upgrading - The development zone is implementing a "5+2" modern industrial system focusing on high-end aluminum, automotive components, aerospace, and new energy industries, promoting smart manufacturing and green transformation [6][7]. - Dyson Wheel Technology Co., Ltd. has achieved significant advancements in smart manufacturing, producing 6 million high-end aluminum alloy wheels annually, showcasing the benefits of automation and precision in production processes [7][8]. - The zone has planned 25 technological transformation projects and 10 key projects for 2025, emphasizing the integration of artificial intelligence with manufacturing to enhance productivity [9]. Group 3: Industry-Academia-Research Integration - The development zone is enhancing the collaboration between industry, academia, and research to accelerate the conversion of technological innovations into productive forces, creating a virtuous cycle of innovation and industrial development [10][11]. - Successful projects, such as the aluminum-based composite materials and the optical photoresist project, demonstrate the effective transformation of research outcomes into competitive industrial capabilities [10]. - The zone aims to cultivate new productive forces through continuous innovation and integration, positioning itself as a leader in the Yellow River Delta's efficient ecological economic zone [12].

Group 1 - Water Well Square clarified that reports of a certain liquor company intending to acquire it are untrue, urging investors to make rational investment decisions [1] Group 2 - Baida Qiancheng plans to acquire 100% of Xiamen Zhonglian Century Co., Ltd. through a combination of share issuance and cash payment, with the transaction expected to constitute a major asset restructuring [2] - Zhonglian Century is a leading digital marketing service provider, and this acquisition aims to enhance Baida Qiancheng's marketing business and competitive edge [2] Group 3 - *ST Jianyi received a debt waiver of 1.4 billion yuan and a cash donation of 400 million yuan from its controlling shareholder, Zhuhai Zhengfang Group, to support its development [4] Group 4 - Yichang Technology is undergoing a change in its actual controller from Gaojin Group to Chuzhou City State-owned Assets Supervision and Administration Commission, following a share transfer agreement [5] Group 5 - Tian Tie Technology's controlling shareholder, Xu Jiding, has been criminally detained, but the company asserts that this will not significantly impact its daily operations [6][7] Group 6 - Unigroup Guowei plans to establish a new company with several partners, including a subsidiary of CATL, to engage in automotive domain control chip business [8] - Zhongding shares intends to set up a joint venture for humanoid robot manufacturing and OEM business [8] Group 7 - Guangju Energy has acquired an 8% stake in Shenzhen Mawan Power Co., Ltd. for 680 million yuan, increasing its ownership from 6.42% to 14.42% [9] Group 8 - Hainan Airport plans to sell 90% of its stake in Sanya Airport Infrastructure Co., Ltd. for approximately 500 million yuan, expecting an investment gain of about 200 million yuan [10] Group 9 - Hongsheng Huayuan's subsidiaries have pre-qualified for 27 procurement packages from the State Grid Corporation, with a total estimated value of approximately 569 million yuan [12]

Core Viewpoint - The company aims to become a reliable supplier for customers' green transformation and efficient operations, focusing on "full-scenario solutions" [2] Group 1: Business Focus - The company is centered around key areas such as transportation, industrial manufacturing, digital infrastructure, and healthy living, providing a comprehensive range of low-carbon lubricants and liquid cooling products [2] - In traditional sectors, the company continues to offer low-carbon lubrication solutions for industries including trucks, electricity, steel, cement, chemicals, non-ferrous metals, paper making, food processing, and general manufacturing [2] - In emerging sectors, the company focuses on the liquid cooling upgrade needs of the computing society, developing specialized cooling products for data centers and energy storage [2] Group 2: Innovation and Technology - The company adheres to the "technology for good" philosophy, innovating in niche areas by launching eco-friendly, smoke-free lamp oil and other specialized products [2] - The company emphasizes technology-driven solutions, providing stable operation solutions for customer equipment through specialization and low-carbon initiatives, supporting industrial upgrades and sustainable development [2]