南开大学金融学教授田利辉指出，此次创业板指样本调整反映出强化新质生产力布局、提升指数代表性与流动性、服务国家战略安全需求的市场 趋势与政策导向。在资源配置层面，样本调整发挥着引导资金流向高成长领域、深化市场优胜劣汰机制、增强指数投资功能的作用，助力优质企 业成长，优化市场生态，促进资本市场良性循环。 【环球网财经综合报道】深圳证券交易所及其全资子公司深圳证券信息有限公司6月3日发布公告，宣布将对创业板指实施样本定期调整，更换其 中8只样本，这一调整将于2025年6月16日正式实施。创业板指自2010年6月1日正式发布以来，已走过十五个年头。十五年间，创业板指不断优化 自身结构，累计调整逾50次，十五周年之际再次"焕新"再出发。 此次调整中，蓝色光标、长盈精密、全志科技、电连技术、协创数据、锐捷网络、乖宝宠物和星宸科技等8只股票被调入创业板指。据Wind资讯 数据统计，截至6月4日，这8家新调入的公司市值均在186亿元以上，其中全志科技、电连技术、锐捷网络、乖宝宠物和协创数据等5家企业均属 于战略性新兴产业。新样本股的纳入，让创业板指更精准地锚定新质生产力发展方向。新一期样本在研发创新与制度适配层面均实现显著跃 ...

Group 1 - Education, technology, and talent are foundational and strategic supports for building a modern socialist country, emphasizing the need for an integrated approach to their development [1][3] - The relationship among education, technology, and talent forms a cyclical system of knowledge production, application, and reproduction, where education is the foundation for technological advancement and economic revitalization [2][3] - The coupling effect among education, technology, and talent is increasingly significant in the context of global technological innovation, necessitating a coordinated mechanism for their efficient operation [3][4] Group 2 - Various regions and departments are implementing the central government's decisions to promote a collaborative and efficient operational mechanism for education, technology, and talent, with examples such as Beijing's regulations on technology transfer and Hunan's policy framework for R&D centers [4] - Challenges remain in the education, technology, and talent sectors, including a lack of coordination and resource allocation issues, which hinder the formation of an effective integrated mechanism [4][5] - The need for comprehensive reforms in the education, technology, and talent systems is highlighted, with a focus on enhancing leadership, systemic integration, and collaboration across departments [5][6] Group 3 - The reform in the education sector should focus on enhancing systemic, holistic, and collaborative approaches, ensuring that foundational education supports innovation from an early stage [6][7] - The technology system reform aims to strengthen national strategic technological capabilities and improve the efficiency of research institutions and innovation systems [6][7] - Talent development reforms must eliminate institutional barriers that restrict talent vitality, with an emphasis on establishing diverse evaluation standards for different types of talent [7]

Core Insights - The electronic information industry in Shijiazhuang, Hebei, is experiencing rapid growth, with projected revenue exceeding 130 billion yuan in 2024, serving as a strong engine for regional economic development [1] - China Bank's Shijiazhuang branch is actively supporting over 500 technology enterprises with credit support exceeding 15 billion yuan, enhancing the financial ecosystem for the electronic information sector [1] Group 1: Financial Support Initiatives - China Bank Shijiazhuang branch has developed specialized financial service plans to support the growth of a billion-level industrial cluster, creating a comprehensive financial service system covering the entire lifecycle of enterprises [1] - The bank employs a "combination of equity and debt" financing model for startups, and offers products like intellectual property pledge loans and innovation credit for growing enterprises [1] - For mature enterprises, the bank has innovated investment-loan linkage and merger loans to meet diverse financing needs [1] Group 2: Case Studies of Financial Assistance - In the case of Hebei Jiuwi Electronics Technology Co., the bank provided a timely loan of 15 million yuan to address short-term cash flow issues, demonstrating effective financial support [2] - The launch of the "Electronic Information Industry Loan" has provided customized financial solutions for numerous tech enterprises, becoming a preferred partner for companies in the region [2] - The bank also offers "Specialized and Innovative Loans" tailored for high-growth enterprises, quickly providing 10 million yuan in funding to a chip testing and R&D company facing a cash shortfall [2] Group 3: Collaborative Efforts - China Bank Shijiazhuang branch has strengthened the "bank-government-enterprise" collaboration, hosting over 28 events in 2024 to provide one-on-one credit services to more than 40 enterprises, with a total credit amount of 245 million yuan [3] - The establishment of a "Technology Finance Specialty Outlet" in the bank aims to serve the local economy and actively connect with the regional electronic information industry cluster [3] - The bank is committed to optimizing financial products and enhancing service efficiency to support technology enterprises in overcoming challenges and expanding their market presence [3]

Core Viewpoint - The rapid development of Intellectual Property Asset-Backed Securities (ABS) is driven by supportive policies, improved market conditions, and the urgent financing needs of enterprises, particularly in the technology sector [2][4]. Group 1: Policy Support - The Chinese government has implemented a series of policies to promote the development of knowledge property ABS, including the China Securities Regulatory Commission's initiative to explore knowledge property asset securitization [2][4]. - Local governments have also introduced tailored measures to support knowledge property ABS, creating a synergistic effect with national policies [2]. Group 2: Market Environment - The enhancement of intellectual property protection and stricter infringement penalties have significantly increased the market value stability of intellectual property, boosting investor confidence [2][3]. - The growing awareness of knowledge property ABS among financial institutions, including banks and securities firms, has stimulated the issuance of related products [3]. Group 3: Enterprise Demand - Technology companies, characterized by "light assets and heavy intellectual property," face challenges in traditional financing due to the lack of fixed asset collateral, which knowledge property ABS can address by converting intangible assets into tradable financial assets [3]. - The successful securitization of intellectual property not only provides funding for R&D projects but also signals the company's technological strength and innovation potential to the market [3][4]. - The process of intellectual property securitization encourages companies to better manage and protect their intellectual property, fostering a virtuous cycle of innovation investment and financing support [3].

Group 1 - The company announced a capital increase agreement approved by the board on May 28, 2025, involving investments of RMB 150 million, RMB 130 million, and RMB 20 million from the company, Guangzhou Pharmaceutical Venture Capital Fund, and Guangzhou Old Brand Fund respectively [1] - After the capital increase, the registered capital of Baiyunshan Biological will rise from RMB 84 million to RMB 121 million, while the company's direct and indirect shareholding will remain unchanged at 50% [1] - Baiyunshan Biological is a significant subsidiary of the company, primarily engaged in the research, production, and sales of human rabies vaccines (Vero cells), which is crucial for the company's innovation-driven development strategy [2] Group 2 - The capital increase aims to address the funding needs of Baiyunshan Biological, facilitating the application for production licenses for new products and supporting the development of the company's biopharmaceutical business [2] - Baiyunshan Biological's financial performance will continue to be included in the company's consolidated financial statements [1][2]

Group 1 - The core viewpoint emphasizes the importance of education, technology, and talent as foundational and strategic supports for China's modernization, advocating for a talent-friendly city construction to align with the national strategy [1] - Jiangsu province is focusing on a "1650" industrial system to enhance emerging and future industries, with cities like Nanjing and Suzhou leading in fields such as artificial intelligence and biotechnology [2] - The government is encouraged to match talent recruitment with industrial needs through targeted policies and professional exchanges, leveraging a provincial talent database for precise talent acquisition [2] Group 2 - Universities are identified as key players in cultivating innovative talent, with a call for aligning educational programs with industry needs to enhance local production capabilities [3] - There is a push for deep collaboration between enterprises and universities to form innovation research institutes, facilitating talent training and technology development [3] - Jiangsu aims to improve talent policies to retain high-end talent and foster innovation, focusing on attracting skilled youth and high-level innovators in cutting-edge fields [4] Group 3 - Creating a livable environment is crucial for attracting and retaining talent, particularly for young professionals aged 20-30 who consider both career opportunities and quality of life [5] - The development of youth-friendly policies and services is highlighted, with examples of integrating public services through technology to support young talent in various aspects of life [6] - Urban planning should prioritize areas where young talent congregates, enhancing public transport and amenities to improve the overall livability and attractiveness of cities [6]

Core Points - The "Creative Youth" China Youth Innovation and Entrepreneurship Week has commenced in Changsha, gathering over 1,300 young scientists, entrepreneurs, and investment elites from across the country to discuss youth innovation and entrepreneurship development [3][4] - The event emphasizes the importance of building a comprehensive innovation support system and nurturing young talent to contribute to the modernization of China's economy [4][10] Group 1: Event Overview - The event is co-hosted by various national and provincial organizations, focusing on the theme "Youth Taking Responsibility for China's Modernization" [3][4] - Keynote speeches and presentations were made by representatives from high-level universities, venture capital institutions, and successful entrepreneurs, highlighting the significance of innovation in modern economic development [4][6] Group 2: Innovation and Entrepreneurship Focus - The event aims to attract innovation and entrepreneurship resources, including mentors, projects, funding, talent, technology, and incubation bases to Hunan, promoting it as a hub for youth innovation and entrepreneurship [4][10] - The "Reveal the List" competition for youth technology innovation was launched, featuring 224 technology challenges across various fields, including AI, new energy, and biotechnology, encouraging young talents to engage in solving key technological issues [9][10] Group 3: Investment and Collaboration - A project investment and financing matchmaking event was held, facilitating connections between entrepreneurial projects and investment institutions, enhancing the efficiency of capital allocation [11][12] - The event included presentations from student projects seeking funding, showcasing the collaboration between universities and venture capital to foster a vibrant entrepreneurial ecosystem [12]

Core Viewpoint - The recent joint release of 15 policy measures by the Ministry of Science and Technology and the People's Bank of China aims to accelerate the construction of a financial system that supports high-level technological self-reliance and innovation, particularly focusing on providing comprehensive financial services for technology-driven small and medium-sized enterprises (SMEs) [1] Group 1: Financial Support for Technology SMEs - The policies emphasize the importance of guiding financial resources towards technology sectors, particularly through re-loan policies that can lower financing costs and improve loan approval efficiency for SMEs in critical technology development stages [1][2] - Banks are encouraged to prioritize credit support for high-growth potential technology SMEs identified through an innovation points system, ensuring that funds are directed towards enterprises with genuine innovation capabilities and development prospects [1][2] Group 2: Innovative Financial Products and Services - Traditional financial products are often inadequate for technology SMEs due to their unique characteristics; thus, banks need to innovate by offering credit loans based on intangible assets like intellectual property and R&D team strength to address the "first loan difficulty" faced by startups [2] - Banks should also explore "loan + external direct investment" models, providing debt financing while partnering with investment institutions to share in the growth of these enterprises, thereby mitigating credit risks and achieving mutual benefits [2] Group 3: Internal Optimization for Better Service - To effectively serve technology SMEs, banks must optimize internal mechanisms by establishing dedicated technology finance departments or branches, enhancing service efficiency and quality [3] - There is a need for banks to recruit and train professionals who understand both finance and technology, improving staff's ability to assess risks associated with technology industries [3] - Banks should develop risk assessment models tailored to the characteristics of technology SMEs, considering factors such as technological advancement, market prospects, and R&D investment to determine appropriate loan amounts and interest rates [3] Group 4: Collaboration and Ecosystem Development - Banks are encouraged to engage in the construction of regional technology innovation centers, collaborating closely with local governments, universities, and research institutions to share information and build technology finance service platforms [3] - The development of technology SMEs is crucial for enhancing national technological strength and sustainable economic growth, and banks play a vital role in providing financial support to facilitate this growth [3]

星月集团的专利墙及部分产品展示（资料照片）。新华社记者 唐弢 摄 一支由法律、外贸和科技等领域专家组成的团队负责起草这部法律。他们翻阅了30多个国家的专利法，在制度设计和条款内容等方面借鉴 各国经验，历时数年，反复修改。终于在1984年，第六届全国人大常委会第四次会议通过了《中华人民共和国专利法》。 由于中国当时尚处于计划经济体制向市场经济体制转轨初期，社会对知识产权的认知有限，专利制度甚至引发"是否背离社会主义"的争 议。 然而现实很快给出了答案。1985年4月1日，专利法生效首日，中国专利局门前人头攒动，排起长队。那一天，专利局共受理了来自国内外 的专利申请3455件。 北京工商大学知识产权法学者王琦说，专利法在1992年和2000年的两次修正中，延长了专利保护期限，扩大了专利保护范围，旨在"服务社 会主义市场经济，满足中国加入世贸组织前的合规要求"。 当时，了解和学习知识产权知识成为社会热议的话题，各种有关知识产权的讲座、报告、培训在全国各地举行。 此外，1994年，中国加入世界知识产权组织《专利合作条约》，更深层次融入国际知识产权体系。 新华社北京5月23日电 题：激励创新，助力发展——中国专利法实施 ...

Core Insights - The private economy in China is experiencing unprecedented development opportunities, supported by financial policies and the implementation of the first Private Economy Promotion Law, which provides a solid legal foundation for its healthy growth [1] Group 1: Policy Support - The past year has seen the most significant policy support for the venture capital industry in China, with a series of important directives from the central government aimed at encouraging the development of venture capital and equity investment [3] - Key initiatives include the expansion of direct equity investment trials by major banks and the release of policies to support equity investment institutions in issuing technology innovation bonds [3] - The introduction of a "carrier-level" national venture capital guidance fund is anticipated, along with differentiated regulatory measures and expanded exit channels for venture capital funds [3] Group 2: Market Demand - The emergence of new technologies, particularly artificial intelligence, is creating vast market demands that will drive a new phase of high-quality development in China's venture capital sector [4] - The success of innovative ecosystems, such as the "Six Little Dragons" in Hangzhou, highlights the potential for market-driven growth in the venture capital industry [4] Group 3: Industry Innovation - The internal innovation of the venture capital industry is a decisive factor for achieving high-quality development, despite China being the second-largest venture capital market globally [5] - There is a significant gap in the quality and efficiency of venture capital management, necessitating a focus on attracting more social capital into the industry [5] - The cultivation of two key groups—outstanding investors and effective management teams—is essential for driving high-quality development in the venture capital sector [5] Group 4: Challenges Ahead - The ongoing U.S.-China technology conflict poses challenges for achieving technological self-reliance, emphasizing the critical role of venture capital in supporting technological innovation [6]