扎根陕西宝鸡二十余年的民营企业瑞科材料，主要参与精细化工与石油化工领域贵金属催化剂市场的竞 争，拥有数百种非均相贵金属催化剂及均相贵金属催化剂，尤其对培南类氢化、普利类氢化等研制多种 专属催化剂，应用场景覆盖医药、农药、液晶材料、食品和饲料添加剂等多个方向。 "由于贵金属的稀缺性，失活贵金属催化剂的绿色循环再生利用更显紧迫。"陕西瑞科新材料股份有限公 司总经理助理杜冰介绍，贵金属催化剂的绿色循环再生利用既可完善产业链条，又可加速贵金属催化剂 下游产业绿色与低碳化发展，最终实现贵金属催化剂全生命周期管理。 在资源回收车间，客户使用后失活的贵金属催化剂通过焚烧热解、灰分处理和精炼等工序，其中的贵金 属实现了富集回收，成为新的贵金属催化剂和贵金属复合物产品的生产原料。"我们现在拥有每年3000 吨的贵金属催化剂回收能力，在降低客户使用成本的同时实现了绿色循环。"杜冰说。 中新网陕西宝鸡7月9日电(李一璠)"贵金属催化剂如同'酵母'，可以数十倍、数百倍提升化学反应速率， 同时具有调节反应选择性、降低反应副产物、提升反应稳定性等功效，是大量化学反应过程得以实现工 业化生产的关键物质。"陕西瑞科新材料股份有限公司(以下简 ...

随着今年全球资金"搬家"，主要市场的表现也由此出现大幅分化。 21世纪经济报道记者吴斌 上海报道 今年上半年，道指上涨3.64%，纳指涨5.48%，标普500指数涨5.50%。对比来看，韩国KOSPI指数大涨 28.04%，德国DAX指数上涨20.09%，恒生指数涨20.00%，巴西IBOVESPA指数涨15.59%。这也与今年 部分资金从美国转向欧洲、中国等市场的流向变化相互印证。MSCI新兴市场股票指数上半年累计上涨 近14%，创2017年以来最佳同期表现。 ATFX亚太区首席分析师林铭添近日在接受21世纪经济报道记者专访时表示，过去几年，美股成为资本 追逐的焦点。然而，今年上半年，美国政府宣布向全球多国加征关税，导致全球股市受挫，美国股市也 出现大幅下跌。尽管后期美国关税政策缓和，美股出现V型反弹并创出新高，但涨幅明显落后于其他市 场。在美国政策的不确定性下，资金逐步从美国流向欧洲、亚洲等资本市场。 今年美国频繁出现"股债汇三杀"，林铭添预计，在美国政治与政策的不确定因素下，未来"股债汇三 杀"可能会是常态。美国巨额债务削弱了市场信心和金融稳定性，美国政府挑战传统资本循环体系，增 加了不确定性。长期来看 ...

吴政隆在陕西四川调研时指出 提升行政效能 优化营商环境 努力完成经济社会发展目标任务 智通财经7月9日电，据新华社，国务委员兼国务院秘书长吴政隆7日至9日在陕西、四川调研经济运行、 政务服务等工作。他强调，要深入学习领会习近平总书记重要指示精神，认真贯彻落实党中央和国务院 决策部署，进一步统一思想、坚定信心、克难攻坚，提升行政效能，优化营商环境，推动各项政策部署 落地见效，着力稳就业、稳企业、稳市场、稳预期，实现高质量发展和高水平安全良性互动，努力完成 全年经济社会发展目标任务。吴政隆先后到咸阳市、西安市和成都市、高新技术开发区，走访装备制 造、人工智能、生物医药、集成电路等企业和智慧能源项目建设现场、政务服务中心等，并与有关地方 政府、企业座谈交流。他指出，要推动有效市场和有为政府更好结合，加强政策协同和上下联动，加力 扩内需、畅循环，努力补短板、扬长板，着力防风险、惠民生，推动科技创新与产业创新融合发展，因 地制宜发展新质生产力，纵深推进全国统一大市场建设，做强国内大循环，加快构建新发展格局，努力 推动经济社会发展持续向好。吴政隆强调，要进一步提升行政效能，优化政务服务，持续打造市场化、 法治化、国际化一 ...

Group 1 - The company Lakala (300773.SZ) has announced plans to issue H-shares and list on the Hong Kong Stock Exchange as part of its international development strategy [2] - The company aims to enhance its competitiveness in the international market by promoting the application of digital currency in cross-border scenarios [2] - Currently, the company is in discussions with intermediaries regarding the specifics of the H-share listing, which is a complex and systematic process [2] Group 2 - Lakala was established in 2005 and became a leading third-party payment institution in China after obtaining a payment business license from the People's Bank of China in 2011 [3] - The company provides comprehensive digital business solutions for merchants, enterprises, and financial institutions, focusing on various sectors such as dining, retail, automotive, and tourism [3] - Lakala is deepening its "Payment+" strategy and integrating AI into its business to support high-quality development of the real economy [3] Group 3 - In 2024, Lakala reported a revenue of 5.759 billion yuan, a year-on-year decrease of 2.96%, and a net profit attributable to shareholders of 351 million yuan, down 23.26% [4] - In the first quarter of 2025, the company's revenue was 1.299 billion yuan, a year-on-year decrease of 13.01%, with a net profit of 101 million yuan, down 51.71% [4] - Lakala has no controlling shareholder or actual controller, with Lenovo Holdings being the largest shareholder, holding a 26.14% stake, which may provide support and potential synergies for the company [4]

Core Viewpoint - The article highlights the journey of Du Jiangtao, the founder of Junzheng Group, from a humble background to becoming the wealthiest individual in Inner Mongolia, emphasizing his business acumen, strategic vision, and commitment to education and philanthropy [4][7][33]. Group 1: Background and Early Career - Du Jiangtao, a top student from Wuhai, Inner Mongolia, graduated from Beijing Institute of Technology and gained valuable business experience in Shenzhen during China's economic boom [9][10]. - He founded Beijing Junzheng Investment Management Consulting Co., marking the beginning of his entrepreneurial journey, where he successfully invested in major oil companies [11]. - In 2003, he returned to Inner Mongolia to capitalize on the region's rich resources, establishing Junzheng Group and expanding into various sectors including power generation and chemical logistics [12][13]. Group 2: Business Strategy and Growth - Junzheng Group operates under a "dual-wheel drive" strategy, focusing on energy chemicals and chemical logistics, creating a complete industrial chain [16]. - As of April 2025, Junzheng Group's total assets exceeded 42.8 billion, ranking among the top 500 chemical companies in China [16]. - The company has developed a circular economy model, effectively reducing production costs and addressing environmental concerns through innovative practices [17]. Group 3: Future Directions and Challenges - In March 2025, Junzheng Group announced a significant investment of 19.36 billion in a green energy project, indicating a strategic shift towards sustainable energy [21]. - The company aims to leverage the abundant renewable resources in Alxa to reduce hydrogen production costs, enhancing its competitive edge [22]. - However, challenges include declining profit margins and environmental compliance issues, which could impact the company's reputation and financial stability [27][28]. Group 4: Philanthropy and Social Responsibility - Du Jiangtao is known for his philanthropic efforts, particularly in education, having donated substantial amounts to his alma mater and local schools [31][32]. - His commitment to social responsibility reflects a broader trend among Chinese entrepreneurs to contribute positively to society while pursuing business success [33].

机器之心编译 原文作者：Albert Gu 编辑：陈陈、杜伟 「Tokenization（分词）是 Transformer 模型为弥补自身缺陷不得不戴上的枷锁。」 近日，Mamba 作者、CMU 助理教授、Cartesia AI 首席科学家 Albert Gu 撰写了一篇新博客，探讨了状态空间模型（SSM）和 Transformer 之间的权衡，并提出了这 样一种观点。 这篇博客改编自 Albert Gu 过去一年来多次进行的一场演讲。虽然演讲内容通俗易懂，面向比较广泛的受众群体，但其中的一些有趣的见解、观点和原理阐释，相 信对专业研究者也不乏启发价值。 在社交媒体 X 上，Albert Gu 抛出了「tokens are bullshit」的观点，并预告了接下来要发布的重大架构进展。 图源： https://x.com/_albertgu/status/1942615020111876248 评论区的很多网友赞成 Albert Gu 的观点，认为移除 tokenization 会在计算效率方面带来积极影响。 状态空间模型 本文首先定义了什么是状态空间模型（State Space Model，SSM）。 1. ...

Core Insights - In 2024, China's express delivery volume surpassed 170 billion packages, maintaining its position as the world's largest market for the 11th consecutive year, highlighting the significant environmental impact of packaging materials used in the industry [1] - The shift towards green packaging is driven by policies, corporate initiatives, and technological advancements, with a focus on reusable packaging solutions like circular express boxes to address the challenges of high costs and low recycling rates [1][15] Group 1: Industry Trends - The concept of "gray environmentalism" was introduced by entrepreneur Chai Aina in 2017, emphasizing that packaging should not be single-use but reusable, marking the beginning of a gradual transition towards sustainable logistics [2] - Gray Environmental's first product, made from renewable materials, has attracted significant investment, enabling the deployment of over 10 million circular boxes across China, resulting in a reduction of approximately 160,000 tons of carbon emissions [4][6] - The circular packaging model is gaining traction among major brands like Anta, which has reported significant cost savings and environmental benefits from using circular boxes for short-distance transportation [6][8] Group 2: Challenges and Solutions - The scalability of circular packaging faces challenges such as high initial costs, complex recovery processes, low consumer participation, and data sharing issues among stakeholders [7] - SF Express has been a pioneer in implementing circular packaging, having deployed over 1.4 million circular boxes by 2021, but still faces challenges in user awareness and operational complexity [8][9] - The integration of circular packaging into cold chain logistics has shown promising results, with SF Express reporting significant carbon reductions through the use of reusable cold transport boxes [9][14] Group 3: Corporate Strategies - JD.com has developed a diverse circular packaging system under its "Qingliu Plan," achieving over 70 million uses annually, focusing on product variety and ecological layout [10][12] - EMS is leveraging its extensive network to implement smart reusable packaging solutions, allowing users to easily return packaging through a mobile app [13][14] - The future of circular packaging relies on a collaborative approach among technology, user engagement, and corporate execution to create a sustainable system [14] Group 4: Policy Influence - The development of circular packaging is accelerating due to strengthened policy guidance, with clear targets set for the promotion of reusable packaging [15][16] - The revised "Interim Regulations on Express Delivery" effective June 1, 2025, mandates express companies to establish packaging operation standards and recycling management systems, making circular packaging a compliance requirement [16][17] - Recommendations for effective implementation include creating a shared recovery system, addressing data barriers, and adopting international best practices to support the transition to circular packaging [17]

新华财经天津7月9日电 记者9日从天津市银行业重点合作投资机构参考清单2025发布会上获悉，天津银 行业基于重点合作投资机构参考清单（简称"投资机构清单"），积极探索多元化银投合作。截至今年6 月末，在津银行机构通过投贷联动模式累计发放贷款27.3亿元。 自去年初天津市银行业重点合作投资机构参考清单首次发布以来，天津在促进银投机构联动创新、支持 初创期科技型企业方面取得了良好成效。据统计，9家银行基于清单开展了投融资撮合、投联贷产品研 发等拓展创新，创设推出了"投联贷""新兴产业赋能贷""浦投贷""天津科创贷"等多款投贷联动产品。 今年5月，天津金融监管局等六部门联合印发《建立"科技—产业—金融"新循环长效机制工作方案》， 引领推动在津金融机构深化构建"科产融"良性循环。方案提出拓展"投资机构清单"，支持天津市银行业 协会与天津市基金业协会深化合作，在更大区域范围内遴选更新优质投资机构名单。 此次新发布的清单包含20家在京津冀三地注册并在中国证券投资基金业协会登记的基金管理人。银行机 构可在依法合规、风险可控基础上，与清单内机构在信息共享、项目推介、产品创新等方面深化合作， 通过"贷款+外部直投"、并购贷款、 ...

内需是推动经济发展的基本动力。党的十八大以来，以习近平同志为核心的党中央坚持实施扩大内需战略，着力 构建完整内需体系，促进形成强大国内市场，持续强化消费的基础性作用，更好发挥投资的关键作用，内需在支 撑经济稳定增长和高质量发展中发挥了重要作用。 习近平总书记指出，"扩大内需既关系经济稳定，也关系经济安全，不是权宜之计，而是战略之举"。2024年底召 开的中央经济工作会议强调，大力提振消费、提高投资效益，全方位扩大国内需求。今年《政府工作报告》进一 步指出，促进消费和投资更好结合，加快补上内需特别是消费短板，使内需成为拉动经济增长的主动力和稳定 锚。同时要认识到，全方位扩大国内需求，面临新形势、新任务和新要求。 近年来，各地区充分发挥特色优势，创造特色消费新空间，不断丰富消费业态、提升消费体验，有效 激活市场潜力。图为2025年5月28日，游客在重庆市乘坐游轮观赏夜景。 新华社记者 王全超/摄 与此同时，我国经济运行中仍存在一些体制机制障碍，影响和制约着供需关系的动态平衡。比如，一些地方政府 重生产、轻消费，使得消费增长往往跟不上供给扩张。又如，供给过剩导致部分行业陷入"内卷式"竞争，不仅加 大企业生存压力，而 ...

国家发改委：五年来"增绿"全球最多 我国森林覆盖率提高到25%以上 智通财经7月9日电，国家发展改革委主任郑栅洁在今天举行的首场"高质量完成'十四五'规划"系列主题 新闻发布会上表示，五年来，我国"增绿"全球最多。绿色已经成为中国式现代化的鲜明底色，这五年的 成效集中体现在增绿、治污、用能、循环四个方面。"增绿"全球最多，森林覆盖率提高到25%以上，新 增森林面积相当于1个陕西省，我国贡献了全球新增绿化面积的四分之一。"治污"成效显著，空气质量 优良天数比例稳定在87%左右，比"十三五"时期提高了3个百分点。长江、黄河两条"母亲河"干流全线 达到二类水质标准，这是一个很了不起的成绩。"用能"更加清洁，新能源发电装机规模历史性超过煤 电，建成了全球最大清洁发电体系，我们每消费3度电就有1度是绿电。"循环"快速发展，每年生产钢材 中，有20%以上的原料来自废钢循环利用，节能降碳成效显著。 ...