文 | 中国石油新闻中心 11月17日，中国石油集团电能有限公司揭牌仪式在京举行。集团公司董事长、党组书记戴 厚良出席并强调，要志存高远、锐意进取， 充分整合内部发电侧和用电侧资源，着力构建 以电能价值链为核心的综合能源供应体系 ，在中国石油绿色低碳发展转型中勇当先锋。 戴厚良与集团公司总经理、党组副书记周心怀共同为中油电能公司揭牌。党组副书记段良伟 主持，党组成员、副总经理谢军、张道伟，党组成员、驻中国石油纪检监察组组长陈东升出 席。 预定展位详情咨询： 曹先生 13 5 5 2 7 1 2 1 8 9 王先生 13 5 8 1 8 8 5 5 2 0 李先生 13 5 8 1 7 4 1 6 8 0 赵先生 18 2 1 0 1 8 8 7 7 1 柏女士 18 0 3 1 4 5 1 0 0 7 相关阅读 前瞻30+海外市场资源 | 2025中国储能CEO峰会火热报名中 涨幅超200%！"一天一价"！还要接着涨？ 新型储能飙涨超3000%！中国储能在海外市场集中爆发 戴厚良指出，调整电力营销管理体制，成立中油电能公司， 是集团公司贯彻落实习近平总 书记关于加快推动新能源高质量发展和全国统一大市场建设等重 ...

Core Insights - The energy sector in China is experiencing significant growth in renewable energy, with renewable energy installations reaching 268 million kilowatts in the first half of the year, a year-on-year increase of 99.3%, accounting for 91.5% of new installations [1] - The 15th Five-Year Plan emphasizes the construction of a new energy system, focusing on increasing the share of renewable energy, enhancing the efficiency of fossil energy, and promoting the development of a clean energy system [2] - The upcoming 2025 China International Photovoltaic and Energy Storage Industry Conference aims to showcase innovations in the photovoltaic and energy storage sectors, aligning with the goals of the 15th Five-Year Plan [3][4] Renewable Energy Growth - China's renewable energy installed capacity continues to break records, with nearly 60% of the total installed capacity being renewable [1] - New energy storage capacity reached 94.91 million kilowatts, growing approximately 29% compared to the end of 2024, indicating a stable and rapid development trend in new energy storage [1] Policy and Strategic Framework - The 15th Five-Year Plan outlines strategies for enhancing the supply of renewable energy, ensuring the safe and orderly replacement of fossil fuels, and constructing a robust new power system [2] - The plan promotes a multi-energy approach, integrating wind, solar, hydro, and nuclear energy, while also focusing on the development of smart grids and microgrids [2][4] Industry Conference Highlights - The upcoming conference will feature discussions on key topics such as photovoltaic technology, energy storage, hydrogen energy, and digitalization, providing a platform for policy interpretation and technological exchange [3][4] - Notable industry leaders will participate in roundtable discussions to explore strategies for the integration of photovoltaic and energy storage systems [4] Research and Innovation - The conference will also launch significant research publications, including a collection of case studies on green low-carbon technologies and a white paper on the digital transformation of the energy sector [4] - The focus on new productive forces in the green energy sector presents unprecedented opportunities and challenges for industry stakeholders [4]

博蕴生物董事长汪群杰表示，博蕴生物将积极携手海内外纯化行业伙伴，推动"天津制造"的高性能色谱 填料走向国际市场，并通过多方合作创新，持续催生生物制造领域的新质生产力。 该项目总投资2.2亿元，占地面积3万平方米，建设内容包括研发中心、硅胶色谱填料生产线、色谱耗材 生产线、智能化仪器设备生产线和工业色谱4.0纯化示范平台等。项目聚焦高性能硅胶色谱填料的研发 和规模化生产，致力于推动核心技术的产业化落地，并同步提供配套的自动化设备与成套技术解决方 案。项目投产后，预计年产值将达10亿元。 中化新网讯 日前，天津博蕴纯化装备材料科技有限公司（以下简称博蕴生物）高性能色谱耗材生产基 地项目落成仪式在天津经开区举行。 ...

【宏观周报20251116】国内社融及经济数据显示内需增长有所放 # 朱枭鹏，Z0015158 日期: 2025-11-16 【宏观周报20251116】国内社融及经济数据显示内需增长有所放缓 【宏观总结20251116】 国内经济:国内10月经济数据显示内需偏弱 11月14日，国家统计局公布数据显示，国内10月内需呈现内需放缓迹象。 10月社会消费品零售总额同比增长2. %。连续五个月下行且增速较5月份这一年内高点回 落4.5个百分点，一是商品零售继续走弱，商品零售增速2.8V，前值3.38; 二是服务零售和餐饮回升，消费结构优化趋势未改、但总量修复仍需政策支持。投资硕 方面，1-10月固定资产投资累计增速录得一.7%（前值-0.5%），地产、基建、制造业投资均出现了不同程度的回落。其中，制造业走弱趋势明显。1-10月制造业 投资边际下滑1.38至2.7%，制造业投资连续7个月下滑，且连续5个月下滑大于1%，制造业投资从三季度开始下滑幅度加速，民间投资下降和设备更新边际递减是 主因。地产方面，全国新建商品房销售面积71982万平方米，同比下降6.8%，新建商品房销售额69017亿元，下降9.6%。 国内经济 ...

Core Insights - The Sci-Tech Innovation Board (STAR Market) has become a key indicator of the performance and development trends of "hard technology" enterprises in China, with significant growth in R&D investment and net profit [1][2]. Group 1: Performance Metrics - As of November 13, 592 companies on the STAR Market reported a total R&D investment of nearly 120 billion yuan and total revenue exceeding 1.1 trillion yuan for the first three quarters, with a net profit growth of 75% year-on-year in Q3 [1]. - For the first three quarters of 2025, STAR Market companies achieved a revenue of 1,105 billion yuan, a year-on-year increase of 7.9%, and a net profit of 49.27 billion yuan, up 8.9% year-on-year [2]. - Over 70% of STAR Market companies reported revenue growth, and nearly 60% reported net profit growth, with 158 companies seeing net profit increases exceeding 50% [2]. Group 2: R&D Investment - The total R&D investment for STAR Market companies reached 119.75 billion yuan, which is 2.4 times the net profit, with a median R&D intensity of 12.4%, leading all A-share sectors [4]. - The "1+6" reform initiated in June aims to support unprofitable tech companies, with 35 such companies showing promising development by prioritizing R&D [4]. Group 3: Sector Performance - The integrated circuit sector saw 121 related companies on the STAR Market achieve a revenue growth of 25% and a net profit growth of 67% in the first three quarters [6]. - The artificial intelligence sector has emerged as a new growth pillar, with companies like Cambrian and Haiguang Information reporting revenue increases of nearly 24 times and 55%, respectively [6]. - The biopharmaceutical sector experienced a revenue growth of 11% and a net profit growth of 48%, with nine new drugs approved for market and significant international business development [7].

如果只能用一句话总结2026年的资产方向，那就是："政策发力、新动能崛起，A股仍是核心战场，但 结构比仓位更重要。" 2026，我们处在怎样的宏观环境？ 2025年，中国经济"前高后低"，全年"保5%"有惊无险，出口韧性与政策托底是两大支柱。 而2026年，作为"十五五"开局之年，政策将进入"全面发力期"，根据国盛证券研究表示，GDP目标预计 仍定在5%左右的高位，货币宽松（降准1-2次、降息10-20BP）、财政扩张（赤字率4%、专项债5万 亿）仍是主基调。 | 榴标 | | | 李度预测 | | | | 年度预测 | | --- | --- | --- | --- | --- | --- | --- | --- | | | 2025Q4E | 202601E | 202602E | 202603E | 202604E | 2025E | 2026E | | 国内经济 | | | | | | | | | 实际 GDP 当季同比(%) | 4.6 | 5.2 | 5.0 | 5.1 | 4.9 | 5.0 | 5.0 | | 名义 GDP 当季同比(%) | 3.9 | 4.6 | 5.2 | 5.5 | 5 ...

Core Viewpoint - Shenzhen has successfully nurtured 121 companies to go public within ten years, showcasing a robust innovation ecosystem that supports rapid growth in technology enterprises [1][3]. Group 1: Companies Achieving Rapid Growth - Among the 121 companies, 87 are listed on A-shares and 34 on Hong Kong stocks, indicating a strong performance in capital markets [1]. - Companies like Zhongke Feicai and Laplace have achieved significant milestones in the semiconductor sector, with Zhongke Feicai going public in just 8 years and becoming a key player in semiconductor quality control [3][4]. - In the smart hardware sector, companies such as Yingshi Innovation have redefined global consumer markets, with Yingshi becoming the global leader in panoramic cameras with a market share of 67.2% [4]. Group 2: Emerging Sectors and Innovations - The renewable energy sector is also thriving, with companies like Youyou Green Energy focusing on high-efficiency charging equipment for electric vehicles, contributing to the rapid development of the charging infrastructure [5]. - Shenzhen's companies are not only innovating in technology but also collectively enhancing the city's industrial structure towards high-tech and globally competitive sectors [5]. Group 3: Supportive Ecosystem for Startups - Shenzhen has established a comprehensive enterprise cultivation system, including various incubators and funding mechanisms, to support startups and scale-ups [7][8]. - The city has set up government investment funds that have mobilized nearly 500 billion yuan to support over 8,000 industry projects, resulting in a significant number of companies becoming specialized and innovative [8][9]. - The average time for startups to go public in Shenzhen is 13.35 years, which is faster than the national average, reflecting the city's efficient support for innovation and growth [9].

Economic Development - The Beijing Municipal Committee's 13th Plenary Session emphasized the importance of deepening reforms and optimizing the business environment to enhance economic vitality [1] - The city aims to achieve a higher level of open economy and promote the complementary development of various ownership economies [1] Technological Innovation - Beijing plans to accelerate the development of a global technology innovation center, focusing on original innovation and key core technology breakthroughs [2][3] - The city will implement a technology achievement transformation system to support the development of new productive forces [3] Education and Talent Development - The education system will focus on integrating education, technology, and talent development, enhancing the quality of education from basic to higher levels [4][5] - There will be an emphasis on cross-disciplinary training to cultivate innovative talents that meet the needs of the capital's economic and social development [5] Digital Economy - Beijing aims to become a global benchmark city for the digital economy, focusing on high-precision industries and modern service sectors [7][8] - The city plans to develop emerging industries such as artificial intelligence and green advanced energy, targeting trillion-level industry clusters [8] Social Welfare - The city will prioritize employment as a key aspect of people's livelihoods, implementing policies to enhance job creation and social security systems [9][10] - There will be a focus on expanding social insurance coverage and improving the social security system to ensure reliable support for residents [10] Environmental Sustainability - Beijing is committed to building a beautiful city by enhancing pollution prevention and promoting green transformation in production and lifestyle [11][12] - The city aims to improve ecological quality and create a harmonious living environment through sustainable practices [12] Transportation Infrastructure - The transportation system will focus on building a modern, integrated transportation network that prioritizes public transport and optimizes travel efficiency [13][14] - Strategies will be implemented to enhance logistics efficiency and support the high-quality development of urban logistics [14][15] Urban-Rural Integration - The city will promote balanced urban-rural development and implement rural revitalization strategies to enhance agricultural productivity and rural living conditions [16] - Emphasis will be placed on modern agriculture and improving rural governance to ensure sustainable development [16] Cultural Development - Beijing aims to enhance its cultural influence by promoting public cultural services and fostering innovation in the cultural industry [17][18] - The city will focus on developing diverse tourism products and enhancing cultural tourism experiences [18] Health and Well-being - The city plans to improve its healthcare system and promote public health services to enhance the well-being of its residents [19][20] - There will be a focus on providing equitable and high-quality healthcare services across all demographics [20] Heritage Protection - Efforts will be made to strengthen the protection and transmission of historical and cultural heritage, ensuring the preservation of Beijing's unique cultural identity [21][22] - The city will enhance public cultural services and promote the development of a museum city [22] Urban Greenery - Beijing is working on a plan to develop a garden city, enhancing urban green spaces and improving the quality of public parks [23] - The city aims to create a harmonious integration of production, living, and ecological spaces through innovative landscaping [23]

该发言人续指，香港政府会积极以科创带动高增值的生产制造，促进新型工业化，并致力为有关企业适 时提供合适支援。 在"先导计划"下，香港政府会以1（政府）：2（公司）的配对比例，向每家在港营运生产线的合资格企 业提供最高25万港元的资助，协助企业订立智能生产策略，以及为现有生产线引进先进技术。资助范围 涵盖相关的顾问、设备购置、智能整合现行生产线，以及培训及建设费用。为有效运用资源，"先导计 划"将由"科技应用及生产线升级委员会"负责监督，并由香港生产力促进局担任秘书处。 此外，"加速计划"的申请门槛亦会下调，项目总成本的最低要求会由3亿港元调低至1.5亿港元，其中企 业须投入不少于1亿港元资金，而1（政府）：2（企业）的配对比例不变。另外，香港创科署亦会为获 批"加速计划"的企业提供1（政府）：1（企业）的配对资助，以聘用最多10名设立或营运智能生产设施 所需的技术人员。 智通财经APP获悉，11月18日，香港创新科技署在"创新及科技基金"的"新型工业化支援计划"下，推 出"制造及生产线'升'级支援先导计划"，并优化现行的"新型工业加速计划"，以进一步推动香港的新型 工业化发展。 香港创科署发言人说，香港政府推 ...

FICC日报 | 2025-11-18 碳酸锂表现亮眼，美联储政策引关注 市场分析 国内经济基础仍待夯实。10月28日，"十五五"规划建议全文发布，公报提到，到2035年实现我国经济实力、科技 实力、国防实力、综合国力和国际影响力大幅跃升，人均国内生产总值达到中等发达国家水平。按人均GDP目标 推算，"十五五"期间的平均GDP增速或有望维持在5%左右，较强的提振了当下市场情绪和经济预期。10月30日， 中美经贸团队达成三方面成果共识，11月5日，中国正式落实暂缓关税。数据方面，10月全国制造业PMI录得49， 环比值下跌0.8；中国10月出口（以美元计价）同比下降1.1%，前值增8.3%，进出口数据受工作日天数减少以及节 前抢出口影响，前期的"抢出口"和"抢进口"有待消化，同时10月投资、消费和工业的增速也出现不同程度放缓，关 注后续经济情况。11月14日国务院常务会议，研究深入实施"两重"建设有关工作，部署增强消费品供需适配性进一 步促进消费政策措施，国内经济基础仍待夯实。《求是》杂志发表中共中央总书记重要文章《因地制宜发展新质生 产力》。11月17日，A股全天低开低走，三大指数集体收跌，创业板指跌0.2% ...