Core Insights - The financial support for key sectors in Shaanxi province has been robust, with significant growth in loans for key industries, inclusive small and micro loans, and green loans, alongside steady growth in loans for technology enterprises [1][2][3] Group 1: Key Industry Loan Growth - As of the end of March, the loan balance for the manufacturing sector in Shaanxi reached 462.53 billion yuan, with a year-on-year growth of 9.05% [2] - The balance of credit loans in the manufacturing sector was 238.86 billion yuan, showing a year-on-year increase of 10.82% [2] - The construction industry loan balance was 348.13 billion yuan, with a year-on-year growth of 12.48% [2] Group 2: Inclusive Small and Micro Loans - The loan balance for small and micro enterprises in Shaanxi reached 1,236.69 billion yuan, with a year-on-year growth of 22.77%, exceeding the overall loan growth rate by 15.42 percentage points [2] - The balance of inclusive small and micro loans was 613.55 billion yuan, with a year-on-year increase of 17.19%, surpassing the overall loan growth rate by 9.84 percentage points [2] Group 3: Support for Private Economy - The loan balance for private enterprises in Shaanxi reached 1.22 trillion yuan, with a year-on-year growth of 11.15%, which is 3.8 percentage points higher than the overall loan growth rate [2] Group 4: Green Loan Expansion - The balance of green loans in Shaanxi reached 804.26 billion yuan by the end of March, with an increase of 51.12 billion yuan in the first quarter, accounting for 25.66% of the total loan increment [2] Group 5: Technology Enterprise Loans - The loan balance for technology enterprises in Shaanxi surpassed 414.6 billion yuan, with a year-on-year growth of 13.07% [3] - The cumulative amount of re-loans for technological innovation reached 3.86 billion yuan, benefiting 6,833 technology enterprises and effectively reducing financing costs [3] - The loan growth rate for the core industries of the digital economy reached 24.1%, supporting the rapid development of the digital economy in Shaanxi [3]

习近平总书记在2月17日民营企业座谈会上强调，中国特色社会主义制度具有多方面显著优势，社会主 义市场经济体制、中国特色社会主义法治体系不断健全和完善，将为民营经济发展提供更为坚强的保 障。4月30日，《中华人民共和国民营经济促进法》经全国人大常委会审议通过并颁布。该法是我国第 一部为促进民营经济发展而制定的专门法律，是构建完善社会主义市场经济法治框架的基础性法律、综 合性立法，也是一部富有特色的经济立法。 一、民营经济促进法的立法突破 民营经济是社会主义市场经济的重要组成部分。根据市场监管总局统计，截至3月底，全国登记注册的 民营企业已超过5700万户，占企业总量92.3%左右。除了规模总量以外，民营企业在吸收社会就业、推 动创业创新等方面起到了重要作用。当前，民营经济仍面临一些尚待解决的发展障碍，困扰民营企业和 民营企业家的市场公平准入、平等使用生产要素、产权与人身权保护等问题，一定程度上降低了民营企 业的创新活力和我国经济发展的整体效率。 长期以来，我国民营经济相关规范散见于民法典、公司法、中小企业促进法等法律与其他政策文件中， 内容缺乏系统性，难以从根本上消除困扰民营经济发展的制度性障碍。民营经济促进法 ...

Group 1 - The overall performance of the service industry in Tai'an is stable, with a year-on-year revenue increase of 7.0% in Q1 2025, reaching 8.99 billion yuan [1] - Among the ten major industry categories, six sectors experienced double-digit growth, particularly the leasing and business services, and information transmission, software, and information technology services, which together accounted for 55.6% of total revenue [1] - The profitable service sector achieved a revenue of 5.82 billion yuan, representing 64.7% of the total service industry revenue, with a significant year-on-year growth rate of 14.9% [1] Group 2 - The private economy in the service sector demonstrated strong vitality, with 514 private service enterprises generating 6.01 billion yuan, which is 66.8% of the total service industry revenue, and a year-on-year growth of 15.0% [2] - The robust start in Q1 reflects the resilience of Tai'an's service industry amid complex conditions, showcasing structural optimization and positive momentum in transformation [2] - Continued policy effectiveness is expected to lead to further breakthroughs in the high-quality development trajectory of the service industry [2]

Group 1 - The core idea emphasizes the importance of building a complete industrial ecosystem that includes both core enterprises and supporting companies to attract more businesses to local areas [1][2] - The example of Chengdu's Xinjing District showcases how leading companies like New Hope have created a complete industrial chain, attracting numerous agricultural and food enterprises, which reduces operational costs and fosters collaboration and innovation [1][2] - The establishment of a "school-enterprise marriage" initiative aims to enhance research and development support for local industries, focusing on common technological challenges in the health food sector and promoting the transformation of research outcomes into industrial applications [3] Group 2 - The implementation of the "Private Economy Promotion Law" on May 20 is seen as a significant boost for private enterprises, providing them with confidence to overcome challenges and adapt to new market conditions [4] - The law is expected to enhance the status of the private economy and its relationship with the overall Chinese economy, promoting healthy development within the sector [4] - The private economy in Xinjing is projected to account for 66.3% of the local GDP by 2024, with a contribution of 94.4% to GDP and 75.6% to tax revenue, highlighting the sector's critical role in the local economy [3]

Group 1: Investor Sentiment and Market Trends - Investor sentiment towards A-shares has improved since July 2024, with a significant increase in confidence regarding China's leading position in key technology sectors [1][2] - The Shanghai Composite Index rose by 17.9% and the Shenzhen Composite Index by 26.8% from August to December 2024, following the introduction of unexpected financial policies in September 2024 [1] - By November 2024, 68.2% of respondents believed A-shares would rise, an increase of 20.7 percentage points since July, with expected returns rising to approximately 5.3%, up 9.3 percentage points [1] Group 2: Real Estate Market Expectations - Investor expectations for the real estate market have aligned with market conditions, showing signs of recovery after a low in September 2023 [2] - Approximately 52.5% of respondents expect housing prices to rise, an increase of 4.9 percentage points since September 2023, with expected returns at about 0.7%, up 0.9 percentage points [2] Group 3: International Relations and Asset Allocation - There has been a notable increase in investor focus on international relations, leading to greater allocations towards safe-haven assets [2] - As of April 2025, the proportion of investors willing to invest in gold increased by 16.3% compared to October 2018, while those willing to invest in bonds rose by 16.8% [2] Group 4: Private Economy and Policy Stability - Attention towards the private economy continues to rise, with 44.5% of respondents considering its status important for future investment decisions, an increase of 9.5 percentage points since December 2020 [2] - Approximately 74% of respondents believe that enhancing the continuity and stability of macro policies is essential for boosting private entrepreneurs' confidence [2][3]

Core Insights - The resilience of China's private economy is highlighted by recent data and supportive policies aimed at improving the business environment for private enterprises [1][2][5] Group 1: Private Enterprise Development - In Q1 2023, 1.979 million new private enterprises were established, a year-on-year increase of 7.1%, surpassing the average growth rate of the past three years [2] - As of the end of March 2023, there were over 57 million registered private enterprises in China, accounting for 92.3% of the total number of enterprises [2] - Private enterprises contributed 70% of the country's technological innovation results, with significant new establishments in sectors like information technology, high-end equipment manufacturing, and artificial intelligence [2] Group 2: International Trade Performance - In Q1 2023, private enterprises' import and export volume increased by 5.8% year-on-year, making up 56.8% of the total import and export volume, an increase of 2.4 percentage points from the previous year [2] - High-tech product exports by private enterprises reached a historical high, approaching 1 trillion yuan [2] - Growth in trade with emerging markets was noted, with exports to ASEAN, Africa, and Latin America increasing by 7.4%, 9.6%, and 5.2% respectively [2] Group 3: Policy Support for Private Enterprises - A series of favorable policies have been implemented to support private enterprises, including the recently passed Private Economy Promotion Law, which emphasizes the legal status and importance of private enterprises [4][5] - The government aims to address market access, payment issues, and enhance communication between government and enterprises to improve the operational environment for private businesses [4][5] Group 4: Financial Support for Private Enterprises - As of Q1 2023, the loan balance for private enterprises reached 76.07 trillion yuan, a year-on-year increase of 7.41%, with loans for small and micro enterprises growing by 12.5% [6][7] - The establishment of a nationwide government financing guarantee system aims to support small and micro enterprises, with a guarantee balance of 1.88 trillion yuan, up 11.5% [7] - The financial system is increasingly supporting the development of private and small enterprises, with credit loans for private enterprises reaching 18.1 trillion yuan, a 15.4% increase [7]

《长江商学院投资者情绪问卷调查(CKISS)》报告由长江商学院会计与金融学教授、投资研究中心主任 刘劲教授以及研究员陈宏亚推出，是对中国资本市场投资人情绪和预期的调查。数据源于2025年4月投 资者情绪问卷调查以及A股上市公司2025年第一季度财报以及其他最新的国内外资本市场及宏观数据。 此外，投资者对民营经济的关注度继续上升。过去二十年，民营经济以其灵活的机制和创新精神，在国 际市场上展现出了强大的竞争力，未来在扩大内需方面也将发挥重大作用。调查中受访者对民营经济的 关注持续上升，本期，约44.5%的受访者认为民营经济的地位对未来投资决策很重要，在对如何提振民 营企业家信心的问题中，约74%的受访者认为应该加强在宏观政策上的连续性和稳定性。 本报讯(记者苏诗钰)5月15日，长江商学院在北京校区发布2025年第一季度《投资者情绪调查报告》， 这也是长江商学院第17次发布投资者情绪调查。调查结果显示，投资者对A股的情绪在2024年7月后回 暖回升。投资者对我国在重要科技领域的领先地位有信心，认为会有更大增长。约54.4%的受访者认为 我国在人工智能方面世界领先，比2024年11月提高了14.7%个百分点；约55 ...

5月15日，长江商学院在北京校区发布了2025年第一季度《投资者情绪调查报告》(以下简称"报告")， 这是该学院第17次发布此类调查。报告基于2025年4月的问卷调查数据，结合A股上市公司2025年第一 季度财报及其他国内外资本市场和宏观数据，深入分析了中国资本市场投资者的情绪和预期。 调查结果显示，投资者对A股的情绪在2024年7月后回暖回升。投资者对房地产的预期于2023年9月后有 所回暖，目前整体仍然处于较为消极的情绪，但这一情绪在减弱。本次调查适逢美国加大对我国贸易战 力度期间，投资者认为贸易纠纷短期内会给我国带来较大压力，但长期而言，影响偏正面。投资者对我 国在重要科技领域的领先地位有信心，认为会有更大增长。约54.4%的受访者认为我国在人工智能方面 世界领先，比2024年11月提高了14.7%个百分点；约55%的受访者认为我国在新能源领域处于世界领先 地位，比2021年4月提高了19.2个百分点。 A股情绪回暖，但仍面临短期波动 自2021年年末以来，A股市场经历了持续下跌。从2021年12月至2024年8月，上证综指和深证综指分别 累计下跌21.9%和39%。在2024年7月的调查中，受访者中认 ...

民营经济是推进中国式现代化的生力军，在经济社会中发挥着"56789"的重要作用（贡献了中国经济 50%以上的税收、60%以上的GDP、70%以上的技术创新成果、80%以上的城镇劳动就业，90%以上的 企业数量）。市场监管总局数据显示，截至2025年3月底，我国登记在册民营企业超过5700万户，占企 业总量的92.3%；全国登记在册个体工商户超过1.25亿户。 2025年5月20日起，备受关注的民营经济促进法将正式施行。作为中国第一部专门关于民营经济发展的 基础性法律，这部法律在公平参与市场竞争、平等使用生产要素、同等受到法律保护等方面作出针对性 制度安排，对于保障民营企业及企业家权益、促进民营经济长期健康发展具有深远意义。 相关配套规定促进民营企业高质量发展。不仅要有公平的竞争环境，民营经济的活跃发展也离不开相关 措施的激励引导。民营经济促进法就支持民营经济组织科技创新、引导民营经济组织规范经营、优化民 营经济组织服务保障作出专门规定，从多方面赋能民营经济高质量发展。这些规定一方面注重鼓励支 持，例如，设置"投资融资促进""科技创新"等专章，支持民营企业参与国家重大战略和重大工程，鼓励 其在战略性新兴产业、未 ...

Core Viewpoint - The conference held in Chengdu's Xinjin District focused on promoting high-quality development of the private economy, unveiling innovative initiatives, and fostering collaboration between enterprises and educational institutions [1][2][3]. Group 1: Economic Development Initiatives - The conference announced the first batch of scenario innovation lists for 2025, covering six major areas including artificial intelligence and green food [5]. - A new initiative called "School-Enterprise Marriage" was launched to enhance collaboration between educational institutions and businesses [5]. - The establishment of the Xinjin District Private Economic Development Promotion Center aims to create a fair and open competitive environment [4]. Group 2: Economic Contributions and Growth - In 2024, the private economy's added value is projected to account for 66.3% of the GDP in Xinjin, ranking first in Chengdu, with a contribution of 94.4% to GDP and 75.6% to tax revenue [2]. - The conference highlighted the rapid growth of private enterprises, with 36 new national high-tech enterprises and 15 provincial-level specialized enterprises expected to be added in 2024 [2]. Group 3: Entrepreneurial Spirit and Leadership - The "Five Jin" spirit of Xinjin entrepreneurs emphasizes courage, innovation, perseverance, contribution, and co-existence, as illustrated by successful local business leaders [1][3]. - Liu Yonghao, Chairman of New Hope Group, shared insights on agricultural modernization and the company's strategic focus on a diversified industrial layout [3]. Group 4: Project Signings and Investments - The conference facilitated a concentrated signing of projects with a total investment exceeding 10 billion yuan, involving 16 companies including China Resources Beverage and Zhiqi Food [5][6]. - An investment of 4GWh in a smart low-carbon energy storage factory by Anzhifu Company was announced, highlighting the efficient administrative services in Xinjin [6].