每经记者｜淡忠奎 每经编辑｜杨欢 中国的城镇化，正在悄然换挡。 过去的46年间，中国城镇化率从17.9%迅速提高到67%，城镇常住人口从1.72亿人增加到9.4亿人。在城镇化取得巨大成就的同时，也积累了一些矛盾和问 题。 比如，中小城市在基础设施、公共服务等方面与大城市的差距较大，企业聚集和产业聚集能力薄弱；大城市内部发展不均衡，城市规划与治理的短板限制人 口承载能力进一步提升。 我国城镇化正从快速增长期转向稳定发展期，城市发展正从大规模增量扩张阶段转向存量提质增效为主的阶段——今年中央城市工作会议首次提出"现代化 人民城市"建设目标，也为城镇化的下半场指明航向。 面对即将到来的"十五五"，城镇化如何实现高质量发展？中国城市建设还有哪些新机遇新动能？11月13日，"中国新型城镇化理论·政策·实践论坛2025"在清 华大学召开，胡祖才、范恒山、李稻葵、魏后凯等多位权威学者围绕相关话题展开探讨。 如中国国土经济学会首席专家，国家发改委原副秘书长范恒山所说，城市发展首先要自己过硬，把能量搞足，把品质提升，同时，城市的发展不仅仅为了城 市，"如果仅仅为了城市，我们的城镇化将失去意义，要带动区域，特别是带动农村"。 眼 ...

2025.11. 15 本文字数：1068，阅读时长大约2分钟 作者 | 第一财 经 吴斯旻 推进"以县城为重要载体的城镇化建设"，不仅要提升县域公共服务水平，也要因地制宜地拓宽县域产 业支撑能力。 中国国际工程咨询有限公司社会事业业务部主任于强在同场论坛上表示，县域是城乡融合的关键纽带 和就近城镇化的主要空间。未来县域发展应建立"主导产业短名单"，集中资源发展优势领域；同时， 应分类施策，考虑城市产业配套型、农业主导型、特色资源型、特殊功能型及改革创新型等分型特 征，开展差别化考核，从根本上扭转"GDP竞赛"的旧模式，缓解"内卷化"发展矛盾。 随着"农村转移人口市民化"这一关键工作科学有序地推进，中国社会科学院学部委员、农村发展研究 所原所长魏后凯预测称，"十五五"时期，中国城镇化速度有望保持在0.7个百分点左右。 微信编辑 | 夏木 第 一 财 经 持 续 追 踪 财 经 热 点 。 若 您 掌 握 公 司 动 态 、 行 业 趋 势 、 金 融 事 件 等 有 价 值 的 线 索 ， 欢 迎 提 供 。 专 用 邮 箱 ： bianjibu@yicai.com "'十五五'期间，建议专门增发'新型城镇化 ...

国务院参事、国家发展改革委原副主任胡祖才表示，当前我国城镇化发展已进入新的历史方位，要将其 放在我国新型城镇化发展的历史进程中来认识，放在中国式现代化全局中来认识，放在世界百年未有之 大变局中来认识，放在不断满足人民日益增长的美好生活需要中来认识。 中新网北京11月15日电(记者 查志远)当前，我国城镇化正从快速增长期转向稳定发展期，城市发展正从 大规模增量扩张阶段转向存量提质增效为主的阶段，亟需锚定"十五五"现代化建设新目标，统筹思考未 来发展道路。 近日，由清华大学中国新型城镇化研究院、清华大学国家治理与全球治理研究院主办的"中国新型城镇 化理论·政策·实践论坛2025"在北京召开。胡祖才、范恒山、李稻葵、魏后凯等多位权威学者围绕相关话 题展开探讨。 专家热议："十五五"时期如何推进新型城镇化？ 对于"十五五"时期推进新型城镇化的战略路径，中国社会科学院学部委员、农村发展研究所原所长魏后 凯认为，"十五五"时期中国城镇化需要处理好速度与质量的关系，以全面提高城镇化质量为主线。魏后 凯预测，该时期城镇化速度将保持在0.7个百分点左右。其关键且首要的任务是科学有序地推进农业转 移人口的市民化，该问题的本质是" ...

为了进一步调动县域政府提升当地基本公共服务水平的动力，李稻葵还提出，可以通过将国家规划目标 分解为具体、可量化、可考核的KPI，把人口市民化等任务纳入干部考核体系，激发县级政府的积极性 和责任感。 推进"以县城为重要载体的城镇化建设"，不仅要提升县域公共服务水平，也要因地制宜地拓宽县域产业 支撑能力。 中国国际工程咨询有限公司社会事业业务部主任于强在同场论坛上表示，县域是城乡融合的关键纽带和 就近城镇化的主要空间。未来县域发展应建立"主导产业短名单"，集中资源发展优势领域；同时，应分 类施策，考虑城市产业配套型、农业主导型、特色资源型、特殊功能型及改革创新型等分型特征，开展 差别化考核，从根本上扭转"GDP竞赛"的旧模式，缓解"内卷化"发展矛盾。 李稻葵认为，新型城镇化实施的重点在于调动地方政府、县级政府动力。当前，要正视当前地方、县级 政府面临的"债务高悬"效应，避免在沉重还本付息压力之下，政府对城镇化、户籍改革和公共服务的投 入出现动作变形。在此背景下，可以合理利用国债这一现代化公共金融服务工具。 "未来，在合理评估中央政府金融净资产和国家信用空间的基础上，应通过增发国债置换部分地方政府 债务，缓释地方财 ...

Group 1 - The core task of the "14th Five-Year Plan" is to enhance domestic demand and promote economic growth, with new urbanization being a key driver for this initiative [1][2] - The proposal includes issuing "special bonds for new urbanization" to support infrastructure and public services in county-level cities, aiming to facilitate the integration of rural populations into modern economic life [1][2] - The plan emphasizes the need for a balanced approach to urbanization, focusing on county-level development and the equalization of basic public services [1][2] Group 2 - Local and county governments face significant debt pressures, which may hinder their investment in urbanization and public services; thus, utilizing national bonds to alleviate this pressure is suggested [2] - The establishment of specific, measurable KPIs for local governments is recommended to enhance accountability and motivate improvements in public service levels [2] - The development of counties is seen as crucial for urban-rural integration, with a focus on identifying and nurturing leading industries within these regions [3] Group 3 - The urbanization rate in China is projected to maintain around 0.7 percentage points during the "14th Five-Year Plan" period, driven by the orderly integration of rural populations into urban settings [3]

论坛期间，与会嘉宾还为《中国都市圈发展报告2024》新书发布揭幕。 本届城镇化论坛以"共谋'十五五'发展，共话城镇化未来"为主题，围绕准确把握"十五五"时期阶段性要 求、引领城镇化高质量发展、探索中国城市建设新机遇新动能展开深入研讨，旨在深入贯彻党的二十届 四中全会精神，系统研判新型城镇化在新时期的功能定位、重点方向与机遇挑战。近200名来自高校、 科研机构、地方政府部门及企业代表参会。 国务院参事、国家发展改革委原副主任胡祖才，中国社会科学院大学教授、国家数据专家咨询委员会主 任、国务院原副秘书长江小涓，中国国土经济学会首席专家、国家发展改革委原副秘书长范恒山，清华 大学中国经济思想与实践研究院院长李稻葵，中国社会科学院学部委员、农村发展研究所原所长魏后凯 分别发表主旨报告。相关科研机构与企业代表以"多方聚力共绘'十五五'蓝图"为主题开展圆桌对话。 本报北京11月14日电（记者于尚波）13日，由清华大学中国新型城镇化研究院、清华大学国家治理与全 球治理研究院主办的"中国新型城镇化理论·政策·实践论坛2025"成功举办。 ...

Core Insights - The forum focused on the development of new urbanization during the "14th Five-Year Plan" period, emphasizing the importance of integration across various dimensions such as regional, urban-rural, industrial, digital, green, cultural, and safety aspects [1][2] Urban Agglomeration Construction - Current urban agglomerations and metropolitan areas primarily exist in a physical state, lacking deep economic and social interactions, leading to a dominance of central cities over smaller towns and rural areas [2] - The central government's focus is on promoting integration and collaboration within urban agglomerations rather than mere scale expansion, necessitating a balance between connectivity and differentiation [2][3] Infrastructure and Public Services - Emphasis on improving the connection between new and old infrastructure, addressing issues like "dead-end roads" and ensuring uniform standards across various infrastructures [3] - The importance of enhancing the connectivity of basic public services is highlighted, with a focus on collaborative efforts to share quality resources among cities [3] Urban-Rural Integration - The central government prioritizes urban-rural integration, recognizing the need for cities to support rural development, as rural areas remain the weakest link in modernization efforts [5][6] - Key reforms are needed to facilitate the two-way flow of resources between urban and rural areas, including household registration and land system reforms [6] Population Trends and Predictions - Predictions indicate a continuous decline in rural population, with estimates suggesting a drop from 465 million to 398 million by 2030, and further to 353 million by 2035 [7] - The number of administrative villages is expected to decrease significantly, leading to challenges such as village vacancy and inefficient land use [7] Quality of Urbanization - The relationship between speed and quality in urbanization is crucial, with a focus on improving urbanization quality as a primary goal [7] - Despite a slowdown, urbanization in China is projected to continue, with urbanization rates expected to reach 71.5% by 2030 and 74.6% by 2035 [7]

Core Viewpoint - Jiangshan Oupai's stock price has shown fluctuations, with a recent increase of 2.00% to 15.27 CNY per share, despite a year-to-date decline of 16.14% [1] Group 1: Stock Performance - As of November 14, Jiangshan Oupai's stock price is 15.27 CNY, with a trading volume of 37.24 million CNY and a turnover rate of 1.39%, resulting in a total market capitalization of 2.705 billion CNY [1] - The stock has experienced a 3.46% increase over the last five trading days, a 6.04% increase over the last 20 days, and a 3.88% increase over the last 60 days [1] - The company has appeared on the "Dragon and Tiger List" twice this year, with the most recent instance on July 22, where it recorded a net buy of -33.79 million CNY [1] Group 2: Financial Performance - For the period from January to September 2025, Jiangshan Oupai reported a revenue of 1.284 billion CNY, a year-on-year decrease of 43.11%, and a net profit attributable to shareholders of -41.49 million CNY, a decline of 125.37% [2] - Cumulative cash dividends since the company's A-share listing amount to 1.034 billion CNY, with 617 million CNY distributed over the past three years [3] Group 3: Shareholder Information - As of September 30, 2025, Jiangshan Oupai has 12,200 shareholders, an increase of 10.16% from the previous period, with an average of 14,529 circulating shares per shareholder, a decrease of 9.23% [2] - Notable new shareholders include Noan Multi-Strategy Mixed A and Huaxia Zhuoxin One-Year Open Debt Initiated Fund, which rank as the fifth and eighth largest circulating shareholders, respectively [3]

Core Viewpoint - Suzhou High-tech's stock price has shown a positive trend recently, with a notable increase in trading volume and market capitalization, despite a decrease in revenue for the first nine months of 2025 [1][2]. Financial Performance - For the period from January to September 2025, Suzhou High-tech reported operating revenue of 4.75 billion yuan, a year-on-year decrease of 27.42% [2]. - The net profit attributable to shareholders for the same period was 278 million yuan, reflecting a year-on-year increase of 17.52% [2]. Stock Market Activity - As of November 14, Suzhou High-tech's stock price rose by 2.12% to 6.25 yuan per share, with a trading volume of 102 million yuan and a turnover rate of 1.45%, resulting in a total market capitalization of 7.196 billion yuan [1]. - The stock has increased by 0.94% year-to-date, with a 4.69% rise over the last five trading days, 9.27% over the last 20 days, and 12.01% over the last 60 days [1]. Shareholder Information - As of September 30, 2025, the number of shareholders for Suzhou High-tech was 59,000, a decrease of 8.24% from the previous period, while the average number of circulating shares per person increased by 8.98% to 19,502 shares [2]. - The company has distributed a total of 1.527 billion yuan in dividends since its A-share listing, with 106 million yuan distributed in the last three years [3]. Major Shareholders - As of September 30, 2025, Hong Kong Central Clearing Limited was the fourth largest circulating shareholder, holding 9.8459 million shares, an increase of 2.453 million shares from the previous period [3]. - The Southern CSI Real Estate ETF Linked A (004642) was the fifth largest circulating shareholder, holding 8.7341 million shares, a decrease of 74,900 shares from the previous period [3].

Core Viewpoint - The stock of Shenzhen Institute of Building Research Co., Ltd. (建科院) has shown a positive trend with a year-to-date increase of 9.75% and a recent uptick of 2.02% on November 14, 2023, despite a significant decline in revenue and net profit for the first nine months of 2025 [1][2]. Financial Performance - As of November 10, 2025, the company reported a revenue of 171 million yuan, a year-on-year decrease of 31.35%, and a net profit attributable to shareholders of -69.91 million yuan, reflecting a decline of 102.73% [2]. - Cumulative cash dividends since the company's A-share listing amount to 91.67 million yuan, with 23.47 million yuan distributed over the past three years [3]. Stock Market Activity - On November 14, 2023, the stock price reached 17.68 yuan per share, with a trading volume of 60.44 million yuan and a turnover rate of 2.36%, resulting in a total market capitalization of 2.593 billion yuan [1]. - The stock has experienced a 2.85% increase over the last five trading days and a 10.36% increase over the last 20 days [1]. Shareholder Information - The number of shareholders decreased by 7.44% to 17,500 as of November 10, 2025, while the average number of circulating shares per person increased by 8.04% to 8,396 shares [2]. - Notable institutional holdings include Nuoan Multi-Strategy Mixed A (320016) as the fifth largest shareholder, increasing its stake by 356,100 shares, and CITIC Prudential Multi-Strategy Mixed (LOF) A (165531) entering as the tenth largest shareholder with 588,200 shares [3]. Business Overview - Shenzhen Institute of Building Research Co., Ltd. was established on August 20, 2007, and went public on July 19, 2017. Its main business areas include architectural design, green building consulting, ecological urban planning, and public service [1]. - The revenue composition of the company is as follows: public service (41.30%), architectural design (25.86%), urban planning (21.82%), building consulting (6.06%), other (3.46%), and EPC and project management (1.50%) [1].