Core Insights - Jiangsu Economic and Trade Vocational College has successfully recommended four industry experts for the 2025 vocational education industry professor selection, reflecting the institution's commitment to integrating education with industry needs [1] - The college emphasizes the importance of industry-education integration as a lifeline for high-quality development, aligning closely with Jiangsu's "775" modern service industry development blueprint [1] Group 1: Talent Development and Industry Integration - The college adopts a dynamic adjustment mechanism to align talent training with market needs, focusing on key areas such as e-commerce, smart logistics, and artificial intelligence [2] - Collaborations with leading companies like Suning and Softcom have led to the establishment of industry academies, allowing students to engage in real-world projects, generating over 30 million yuan in direct GMV in the past two years [2] Group 2: Innovative Educational Models - The college has transitioned from traditional internships to a "value co-creation" model, creating a new educational paradigm that includes building physical academies in partnership with companies [3] - The establishment of a provincial-level university technology park serves as a practical training ground, where students gain hands-on experience in a real business environment, ensuring a seamless connection between education and industry demands [3] Group 3: Industry Standards and Research Collaboration - Faculty members collaborate with industry experts to develop technical standards and provide services to small and medium enterprises, enhancing the practical skills of students through real accounting practices [4] Group 4: Outcomes of Integration Efforts - The college has achieved significant results in talent development, with students winning over 50 national awards in competitions and maintaining a graduate employment rate above 98% [5] - The institution has established stable partnerships with over 400 companies, creating 10 industry academies and more than 200 off-campus internship bases, with total corporate investment nearing 100 million yuan [5] Group 5: Faculty and Resource Optimization - Over 85% of professional teachers are dual-qualified, with a substantial number having experience in leading companies, enhancing the educational experience with real industry insights [6] Group 6: Future Development Plans - The college aims to deepen and expand its industry-education integration through digital empowerment and the establishment of a smart platform for precise talent demand forecasting [7] - Plans include strengthening the role of the city-level industry-education integration consortium and providing high-quality vocational training to over 30,000 individuals annually [7]

证券之星消息，1月9日数字经济板块较上一交易日上涨2.72%，星环科技领涨。当日上证指数报收于 4120.43，上涨0.92%。深证成指报收于14120.15，上涨1.15%。数字经济板块个股涨跌见下表： 以上内容为证券之星据公开信息整理，由AI算法生成（网信算备310104345710301240019号），不构成 投资建议。 从资金流向上来看，当日数字经济板块主力资金净流入56.53亿元，游资资金净流出52.81亿元，散户资 金净流出3.71亿元。数字经济板块个股资金流向见下表： ...

"2025年是山东发展史上很不平凡的一年。"近日，山东省委副书记、省长周乃翔在向海内外朋友发表 2026年新年贺词时说。他在贺词中还表示，齐鲁大地正蓬勃向上，经济实力"向强而跃"，山东省坚定实 施扩大内需战略，着力稳就业、稳企业、稳市场、稳预期，全省经济保持稳健向好、进中提质良好态 势，预计地区生产总值超过10万亿元，成为全国第三个、北方第一个过10万亿元省份，甚至可以跻身全 球前20大经济体。这一突破不仅标志着山东经济总量迈上新台阶，更凸显其作为北方地区经济重要增长 极的"挑大梁"作用。 《中国经营报》记者注意到，2020年山东GDP约为7.31万亿元，"十四五"期间接连突破三个万亿级大 关，五年间增量接近3万亿元，相当于济南、青岛两座万亿城市（2024年）的经济体量之和。 这份成绩从何而来？虽然2025年完整的统计数据尚未出炉，但不妨透过一些核心数据来管窥山东。山东 省统计局数据显示，2025年1—11月，全省规模以上工业增加值同比增长7.7%，41个行业中有36个实现 增长，增长面为87.8%；社会消费品零售总额增长5.2%；货物进出口总额达3.19万亿元，增长4.6%。这 三项指标增速均高于全国平均水 ...

Development Overview - Digital Renminbi is a digital form of legal currency issued by the central bank, characterized by legal tender status, security, high convenience, and programmability [1] - As of November 2025, Digital Renminbi has processed a total of 3.48 billion transactions, with a cumulative transaction amount of 16.7 trillion yuan [1][24] - The dual-layer operational system involves the central bank issuing Digital Renminbi and designated operating institutions providing exchange and circulation services [1][19] Future Outlook - The necessity of developing sovereign digital currencies is highlighted due to risks posed by cryptocurrencies and global stablecoins [2] - Approximately 130 countries, accounting for 98% of the global economy, are exploring digital versions of their currencies, with many in advanced development stages [2][28] - Digital Renminbi is expected to enhance the efficiency of monetary policy transmission and support the internationalization of the Renminbi [2][26] Industry Chain - The issuance layer focuses on technologies such as digital encryption, network security, and identity authentication, which are crucial for ensuring transaction data integrity and user privacy [4] - The circulation layer requires banks and third-party payment institutions to upgrade their systems to accommodate Digital Renminbi [4] - The application layer involves upgrading payment terminals and digital wallets to facilitate the use of Digital Renminbi [4] Investment Recommendations - Digital Renminbi plays a significant role in promoting the internationalization of the Renminbi and has numerous application scenarios both domestically and internationally [4] - The demand for technological upgrades and software/hardware modifications across the issuance, circulation, and application layers presents opportunities for relevant technology and product providers [4]

高盛在最新报告中明确提到，中国股票市场到2027年末有望实现38%的涨幅。摩根大通将中国市场的评 级上调至"超配"，认为中国市场估值仍处于合理区间，且国际投资者仓位较轻。摩根士丹利小幅上调了 中国股票指数目标，预测2026年12月沪深300指数目标点位为4840点。瑞银将MSCI中国指数2026年年末 目标设定为100点，较当前水平存在约14%的上涨空间，同时将恒生指数目标设定为30000点。 1月9日，沪指高开高走收盘突破4100点，刷新2015年7月底以来新高，日K线录得16连阳；深成指涨超 1%，创业板指数上涨0.77%。沪深两市成交额3.12万亿，较上一个交易日放量3224亿，时隔73个交易日 后再度站上3万亿大关，历史第五次突破3万亿。 从板块来看，AI应用概念走强，引力传媒5天4板，粤传媒、易点天下、博瑞传播、国新健康等多股涨 停。商业航天概念反复活跃，鲁信创投11天9板，巨人索具2连板。全市场超3900只个股上涨，连续2日 超百股涨停。 近两个月，多家外资机构密集发布了2026年市场展望。其中，高盛、摩根大通、摩根士丹利、瑞银等知 名机构表达了对中国资产的乐观预期。 瑞银财富管理投资总监办公室( ...

Group 1 - The market adjustment is attributed to the fragile market structure, macro disturbances, and industry divergences, suggesting that investors should avoid single attribution and linear extrapolation [1] - The current liquidity environment is expected to remain loose until the first quarter of next year, with a trend of "deposit migration" likely to continue under a low-interest-rate backdrop [1] - Key sectors for net inflow include domestic software, military industry, new energy vehicles, non-ferrous metals, and gaming [1] Group 2 - The brokerage sector has underperformed compared to the Shanghai Composite Index despite showing growth in Q3 reports, raising questions about its future prospects [3] - The year 2026 is anticipated to open up opportunities for the securities industry, supported by favorable policies and a reasonable liquidity environment [3] - Key investment focuses include leading securities firms aiming for international competitiveness, mid-sized firms with potential, and companies benefiting from improved industry competition and wealth management recovery [3] Group 3 - A wave of state-owned enterprises is entering the capital market, focusing on core business and strategic new layouts, indicating a clear path for high-quality development of state capital [4] - The next phase is expected to emphasize capital operations in advanced fields such as new materials, biopharmaceuticals, and digital economy, with spin-off listings becoming a significant trend [4] Group 4 - The demand for the energy storage industry is projected to remain high in 2026 due to ongoing global energy transition trends and significant project plans in major markets [6] - The strong demand for household and industrial storage persists, driven by ongoing electricity shortages in emerging markets [6] Group 5 - The short-term market trend is strong, with significant inflow of incremental capital and a strong profit-making effect [8] - The number of stocks rising outnumbers those falling, indicating a positive market sentiment [9] Group 6 - The Shanghai Composite Index is experiencing a strong rally, with expectations that even during high-level corrections, capital will continue to enter the market [10] - The AI glasses industry is expected to transition from exploration to scaled growth, benefiting from technological innovation and product iteration [10] - The banking sector is seeing increased research interest, particularly among city and rural commercial banks, with a focus on net interest margin trends and asset quality changes for 2025 and 2026 [10]

Group 1: Market Trends - The global commodity market has entered a structural uptrend since late 2025, led by industrial and precious metals, while traditional cyclical products have shown lackluster performance[1] - LME copper prices surged from under $8,000/ton to over $13,000/ton, a cumulative increase of over 60%, despite the US manufacturing PMI remaining in a contraction zone of 48.2%-48.3%[2] - The divergence between commodity prices and manufacturing demand indicates a decoupling from traditional manufacturing cycles, driven by geopolitical uncertainties and supply chain security concerns[16] Group 2: Demand Dynamics - The current market features extreme differentiation among commodities, with indicators like the copper-oil ratio exceeding two standard deviations, reflecting a fundamental shift in global economic growth models[3] - The transition from a traditional growth model centered on real estate and infrastructure to a digital economy model focused on "computing power + electricity" is creating new demand chains for commodities[3] - Major tech companies are expected to maintain over 20% capital expenditure growth in AI infrastructure, significantly impacting demand for conductive materials like copper and silver[31] Group 3: Future Outlook and Risks - The commodity market is entering a new paradigm driven by "computing power + security," where geopolitical risks create a safety premium, enhancing the financial attributes of commodities[4] - Short-term risks include potential price corrections for certain commodities that have surged too quickly, possibly overextending future demand expectations[4] - Economic indicators show a decline in fixed asset investment at -2.6% year-on-year, while retail sales and exports have shown modest growth of 1.3% and 5.9% respectively[7]

来源：资市会 Wind数据显示，以基金成立日为统计口径，2025年全市场新成立了1555只基金（只显示初始基金，剔 除转型基金和后分级基金），新产品成立数量创近四年来新高，首募规模合计达1.21万亿元。 2025年新成立的基金，发行有哪些新变化？哪些基金公司成立的数量多、规模大，谁的数量少、规模 小？哪些基金经理成大赢家？2025年未拿到"准生证"新基金又是什么情况？ 2025年，伴随A股市场震荡上升，公募行业深耕高质量发展，从"重规模"向"重回报"转型，整体管理规 模接连突破多个整数关口，实现稳步增长。 根据基金业协会最新数据，截至2025年11月末，公募基金管理规模达37.02万亿元，基金数量达13490 只，再创历史新高。 除了存量产品规模增长之外，也离不开新基金的大量发行。 新基金发行有何变化？哪些公司成立的数量多、规模大，哪些数量少、规模小？哪些基金经理成大赢 家？2025年未拿到"准生证"新基金情况又是怎么样的？ 作者|资市分子 01 权益新基金数占比超七成 2022年至2024年，新成立公募基金数量分别为1457只、1272只、1135只。2025年一举遏制了过去三年新 基金成立下滑趋势，成立了 ...

本报讯 （记者昌校宇） （编辑 张明富） 电力ETF景顺以中证全指电力公用事业指数为跟踪标的。该指数从中证全指中选取电力公用事业行业股票，当前成份股57 只，全面覆盖火电、水电、风电、核电等多种类型，既能把握电力系统多样化投资机会，也有助于分散单一电力品种的价格波 动风险等。该指数前十大权重股均为各电力细分领域龙头，合计权重52.07%，行业代表性较强，有利于通过龙头效应提升指数 的稳定性。 此外，作为公用事业板块，电力行业受经济周期变化的影响相对较小，长期以来呈现盈利稳健、估值较低的红利特征。 Wind资讯数据显示，截至2025年12月31日，中证全指电力公用事业指数的股息率为2.57%，高于代表A股整体表现的中证全指 （1.96%），具备较好的长期配置价值。同时，过去5年，在完整市场周期中，该指数累计上涨30.30%，表现相对稳健。 2025年以来，AI技术的持续突破带动算力爆发式增长，数据中心等AI基础设施快速扩张，推动电力需求显著提升，电力已 成为数字经济时代的关键生产要素。同时，国内政策对可再生能源的大力支持，有望持续提升电力在终端能源消费中的占比。 在此背景下，景顺长城基金旗下的电力ETF景顺应势 ...

2025年以来，随着AI技术的持续突破，算力爆发式增长推动数据中心等AI基础设施快速扩张，对电力 的需求水涨船高，使其成为数字经济时代的核心生产要素；同时，伴随国内政策对电力等可再生能源的 支持，其在终端能源消费中的占比或将持续提升。在此背景下，电力ETF景顺（代码：159158）的发 行，可谓恰逢其时，该基金紧密跟踪中证全指电力公用事业指数，广泛覆盖多种电力行业，为投资者提 供布局电力的便捷工具。 需求爆发+政策支持，双轮驱动 "算力的尽头是电力"并非短期炒作，而是基于AI算力持续扩张对电力消耗提出巨大需求的长期趋势。一 方面，随着AI大模型不断更新迭代，训练功耗也在持续增加，例如GPT-4.5进行一次训练所消耗的电量 大约是110亿千瓦时，相当于100万个美国家庭一整年的用电量；另一方面，数据中心的扩张对电力的需 求也正快速增长，据IEA预测，到2030年，全球数据中心用电量将增至约945TWh，较2024年 （415TWh）增长一倍以上，期间复合增速约15%。（数据来源：信达证券、天风证券等机构） 然而面对电力需求的增长，海外的电力供应却受限于设备老化、能源转型和制造业回流抢电等因素，以 美国为例，20 ...