从价格战到价值战，光伏行业进入"反内卷"新阶段 光伏自2023年以来产业链价格大幅下滑，整治内卷式竞争的急迫性已十分强烈。面对日益激烈的价格战，高层会议已明确态度。 今年以来，政策层面围绕"反内卷"密集发声。从3月政府工作报告强调整治内卷式竞争，到6月修订出台《反不正当竞争法》，再到7月中央财经委会议提 出"反内卷"竞争，治理无序竞争，推动产能退出。 数据显示，在不得低于成本价销售的价格法规要求下，近期硅料价格已大幅上涨。 根据硅业分会报价，截至7月23日，多晶硅n型复投料成交均价为4.68万元/吨，周环比上涨12.23%；n型颗粒硅成交均价为4.40万元/吨，周环比上涨7.32%。 近期，"反内卷"成为光伏行业的高频关键词。 在政策预期和市场情绪的推动下，光伏产业链各环节均出现不同程度的上涨。数据显示，近日，多晶硅期货价格强势上涨，涨幅超60%，现货价格也从底部 3万元/吨强势反弹。这种大宗商品期货市场的剧烈反应，直接体现了市场对"反内卷"政策执行力的强烈预期。 数据显示，截至7月25日，中证光伏指数自6月低点以来，已上涨超过17%。 在业内人士看来，光伏指数涨幅尚未充分反映行业见底事实——当全行业深陷亏损 ...

一个安全稳定繁荣的网络空间，对各国乃至世界都具有重大意义。360集团创始人周鸿祎认为，随着人 工智能技术加速渗透各行各业，网络安全形势更加严峻。安全始终是数字化、智能化的基石。人工智能 时代，要加强安全人才培养，应对新的网络安全危机。同时，各国也要携手共迎安全挑战，推动构建网 络空间命运共同体迈向新阶段。 古港连天下，数字启新章。海上丝绸之路承载人类共同记忆与繁荣愿景，是见证东西方思想、友谊、文 明交融互鉴的重要纽带。如今，数字浪潮为丝路精神注入新的时代内涵，续写跨越千年的丝路梦想。 "数字化转型正在重塑贸易、交通和经济模式，'一带一路'倡议也不断发展。数字贸易不仅是经济增长 的引擎，更是驱动共同繁荣、增强韧性与包容性的力量。"阿拉伯信息通信技术组织秘书长穆罕默德·本· 阿莫说，"站在技术革命的潮头，合作的重要性比以往任何时候都更为凸显。我们要共同建设一个以人 为本、包容互助、创新驱动的网络空间，让科技推动可持续发展，以合作塑造未来。" 本届论坛由世界互联网大会主办，福建省人民政府承办。论坛期间发布了《数字丝路：平台企业共建共 享的全球数字经济新生态》《凝聚人工智能共治力量 助力数字丝绸之路发展》等智库合作计 ...

Core Viewpoint - The People's Bank of China Shandong Branch is actively promoting the issuance of technology innovation bonds to support the financing needs of technology enterprises and enhance the province's financial ecosystem for innovation [1][4]. Group 1: Technology Innovation Bonds - As of now, 17 enterprises and institutions have successfully issued technology innovation bonds totaling 22.7 billion yuan in the interbank market, positioning Shandong among the top provinces in terms of issuance scale [1][5]. - The technology innovation bonds cover a wide range of issuers, including state-owned enterprises, private enterprises, equity investment institutions, and financial institutions, thereby supporting various sectors such as electronic information, new energy, new materials, high-end chemicals, and biomedicine [5][6]. - The bonds feature long maturities and low interest rates, with some institutions issuing bonds with terms of 5 to 10 years and a minimum issuance interest rate of 1.63%, while the weighted average interest rate is only 2% [5][6]. Group 2: Innovative Measures and Support - The issuance of technology innovation bonds includes several innovative aspects, such as flexible issuance methods, diverse funding uses, and rich credit enhancement measures to better match the financing needs of technology enterprises [4][6]. - The People's Bank has established risk-sharing tools for technology innovation bonds to support private enterprises and equity investment institutions, aiming to reduce issuance costs and improve success rates [4][6]. - Future efforts will focus on enhancing the promotion of technology innovation bonds, exploring better mechanisms for central-local credit enhancement, and striving for more entities to issue these bonds to optimize the innovation ecosystem in Shandong [6].

记者丨 李惠琳 编辑丨陈晓平 王健林，又卖一处资产。 7月22日，中国儒意公告，拟收购快钱金融30%股权，现金代价为2.4亿元。公告披露，"卖方 的最终实益拥有人为王健林先生"。 快钱金融隶属于万达金融，手握一张第三方支付牌照。 王健林一度有着做大互联网金融的期 许，斥20亿巨资才拿下其控股权。 时移世易，手头紧缺的王健林，打折处置了这块金融资产。 今年以来，王健林还抛售万达酒店以及55个万达广场， 累计变现超520亿元 。 目前，其地产之外的多元业务，多已丧失，商管主业的控制权，也已脱手。 自救路上，这位地产大佬攒下的资产，依然在不断摆上货架。 清仓快钱 王健林这次找的下家，是一位老熟人。 接盘快钱的中国儒意，掌舵者为80后的柯利明。过往两年，他从王健林手中接过万达电影多笔 股权，且成为其实控人。 这次， 王健林再次向其出售的快钱，是其金融版图中的核心资产。 快钱为一家持牌的支付机构，成立于2011年，主要为大中型企业提供综合支付解决方案，并涉 足跨境支付和数字货币。 | 企查分:680分 (17 圆 报告 | 快钱 快钱金融服务（上海）有限公司 | 2笔记 ( 关注 | | | --- | --- | - ...

7月24日，中国信息通信研究院在2025（第二届）产融合作大会上公布金融业数字化转型能力评估模型 标准（FDMM）评估结果，并为获评单位授牌。交通银行获评数字化技术应用能力域五级（卓越级） 认证，成为金融业首批获得最高等级认证的机构，标志着交行数字化转型技术应用能力已成为行业领先 标杆。 在建强金融科技实力的基础上，交行以"数据要素+数字技术"双轮驱动，提升业务价值，增强服务实体 经济质效。依托大数据、隐私计算等技术，创新推出"主动授信"金融服务模式，为科技型小微企业 送"贷"上门，有效缓解企业融资难、融资慢的问题。运用企业级思维，打造线上抵押贷、惠商贷、惠农 贷等标准产品和"链享惠贷""商圈惠贷"等纯信用场景产品。基于区块链等技术，上线"交银航贸通"平 台，实现跨境结算、结售汇、外贸快贷等业务全流程"线上办""掌上办"。在风控领域全域应用AI技术， 打造覆盖"全集团机构、全品种产品、全风险类别"的数字化全面风险管理体系，实现风控从"人防""技 防"向"智控"转变，切实履行"守护百姓钱袋子"的责任担当。 面对新时期高质量发展要求，交行坚持将数字化新交行建设作为战略推进的重要突破口之一，持续加大 科技投入，强化 ...

Core Viewpoint - The increasing support for the transformation of individual businesses into enterprises (referred to as "individual-to-enterprise" or "个转企") is leading to heightened attention from banks towards providing financial services to these businesses during their growth phase [1][2]. Policy Support - Multiple policies supporting the "individual-to-enterprise" transformation have been implemented since July, including the "Regulations on the Registration and Management of Individual Businesses" which took effect on July 15 [2]. - The "Guiding Opinions" issued by nine departments, including the State Administration for Market Regulation, emphasize enhancing financial services for individual businesses transitioning to enterprises, promoting a long-term mechanism for lending [2]. Financial Products - Banks are launching targeted financial products to support the transformation, such as "Growth Loans" with a monthly interest rate as low as 2.5‰ and "Individual-to-Enterprise Easy Loans" [1][2]. - The transition from individual business loans to corporate loans will require banks to adjust their management practices, although the overall loan volume and revenue will remain unchanged [2]. Classification and Support - As of May 2025, there are 1.85 billion private economic organizations in China, with individual businesses accounting for 1.27 billion, representing 68.65% [3]. - The State Administration for Market Regulation is implementing precise support measures for different types of individual businesses, with a goal to establish a "National Individual Business Directory" by the end of 2024 [4][5]. Regional Initiatives - Various regions, such as Ningxia and Guizhou, are developing tailored support measures for individual businesses based on their operational status, tax contributions, and employee numbers [5][6]. - Banks are creating innovative products like "Merchant Circle Loans" to enhance financial service precision for individual businesses [6].

21世纪经济报道记者李莎 北京报道 近日，中央城市工作会议举行，这是时隔近十年，党中央再次召开最高规格的城市工作会 议。会议对当前城市发展阶段变化作重要判断，并提出六方面的现代化人民城市建设目标，划定接下来城市工作的七大重点任 务。 在当下召开中央城市工作会议有什么考虑？会议作出的我国城镇化发展阶段变化的判断会对接下来的城市工作带来哪些影响？ 现代化人民城市建设目标的提出释放了哪些信号？如何看待城市更新的潜力？对于会议中提出的"提高城市对人口和经济社会发 展的综合承载能力"应该怎么理解？如何发展组团式、网络化的现代化城市群和都市圈？ 带着这些问题，21世纪经济报道对北京大学首都发展研究院院长、政府管理学院教授李国平进行了专访。李国平认为，我国城 市化已进入中后期，这一转变背后，是人口总量减少与老龄化加剧、科技进步推动发展动能转换、居民追求多元化品质生活等 多重背景的叠加。城市发展要从"增量"转向"提质"，从"以地为中心"的城镇化转向"以人为中心"的城镇化，存量更新成为重中之 重。 对于提高城市对人口和经济社会发展的综合承载能力，李国平倡导采用多中心、网络化的发展模式。他认为应积极鼓励人口流 动，要尽可能减少对 ...

Core Viewpoint - The traditional business model of Xi'an's tourism and hospitality industry is facing structural crises, as evidenced by the continuous losses of leading companies despite high visitor numbers and revenue potential [2][5][9] Financial Performance - In the first half of 2025, the three major tourism companies in Xi'an are expected to collectively incur losses exceeding 100 million yuan, with Xi'an Tourism and Xi'an Catering projecting losses of 49 million to 69 million yuan and 48 million to 60 million yuan respectively [3][5] - Xi'an Catering's losses have narrowed compared to the previous year, while Qujiang Cultural Tourism is experiencing a significant increase in its non-recurring losses [3][4] Industry Challenges - The industry is grappling with a reliance on ticket sales and traditional business models, leading to a weak profit conversion from high visitor traffic [2][6] - The operational costs of major attractions are high, and the inability to effectively convert visitor traffic into secondary consumption and derived income is a persistent issue [2][6] Resource Dependency - Despite holding monopolistic resources in the tourism sector, the companies are trapped in a cycle of continuous losses, revealing the limitations of their resource-dependent growth strategies [5][9] - The companies have diversified into various sectors such as oil, real estate, and healthcare, but this shift has led to a deviation from their core business and weakened their operational focus [5][6] Market Dynamics - The emergence of new consumer trends is reshaping market rules, with traditional brands struggling to adapt to the preferences of younger consumers [6][7] - The competitive landscape is intensifying, with online travel agencies (OTAs) disrupting traditional distribution channels, further complicating the companies' ability to maintain profitability [6][7] Strategic Responses - Qujiang Cultural Tourism is initiating a "intellectual property strategy transformation" to monetize its core attractions through IP registration and collaboration with brands [7] - Xi'an Tourism is focusing on expanding its hotel segment, aiming to double its hotel numbers and enhance revenue through capital operations [7][8] Future Outlook - The companies are at a critical juncture, needing to break free from the cycle of resource dependency and inefficient expansion to establish genuine market competitiveness [9] - The success of their transformation efforts will depend on their ability to innovate and adapt to changing consumer demands while overcoming institutional inertia [9]

Core Insights - ATFX showcased its innovative financial technology solutions at The Trading Show in Morocco, highlighting the growing interest and potential in the North African fintech sector [1] - The company aims to enhance its market presence in the Middle East and North Africa by leveraging advanced technologies and localizing its services to meet diverse investor needs [4][5] Group 1: Event Participation - ATFX participated as a diamond sponsor at The Trading Show, attracting professionals from brokerage, fintech, investment, and regulatory sectors [1] - The event served as a platform for ATFX to demonstrate its cutting-edge financial technology products and solutions, reflecting its innovation and market influence [1] Group 2: Digital Transformation - Fadi Sader, ATFX's Sales Director for Retail Business in the Middle East and North Africa, emphasized the importance of digital transformation for trading platforms, driven by emerging technologies like big data, cloud computing, and artificial intelligence [2][6] - These technologies enable service providers to offer enhanced educational resources and analytical tools, improving investors' capabilities to seize market opportunities [2][6] Group 3: Market Development Strategy - Since entering the African market in 2019, ATFX has expanded its operations to cover South and North Africa, establishing multiple local offices [4][7] - The company is focused on introducing high-tech solutions, attracting top talent, and creating localized, professional service systems to cater to the diverse needs of both young and mature investors [4][7] Group 4: Strategic Partnerships - ATFX is actively forming strategic partnerships with local brokers, financial institutions, and technology providers to diversify its distribution channels and enhance service delivery capabilities [5][9] - The company aims to strengthen its market influence and competitiveness in the Middle East and North Africa through these collaborations [5][9] Group 5: Commitment to Quality - ATFX is committed to providing cutting-edge, secure, and transparent trading solutions for African investors, focusing on reliability, innovation, and customer trust [10] - The company plans to continuously optimize service quality to help investors succeed in a rapidly changing market environment [10]

Core Viewpoint - China National Petroleum Corporation (CNPC) is undergoing a significant digital and intelligent transformation to enhance production efficiency, optimize operations, and innovate business models, aiming for high-quality development in the energy sector [1][2]. Group 1: Digital Transformation Initiatives - CNPC has launched the "Smart China National Petroleum" initiative as part of its strategic measures to drive governance, production, management, and technological innovation through digitalization [1][2]. - The company has established a comprehensive digital governance framework, including the formation of various leadership groups to oversee digital transformation efforts [2]. - A data governance campaign has been initiated to address issues related to data fragmentation and quality, accelerating the information enhancement project [2]. Group 2: Operational Efficiency Improvements - CNPC has optimized 13,000 processes into 923 standardized units, reducing data coding volume by over 35%, which has led to significant improvements in operational management [4]. - The company has achieved a 90% automation rate for financial vouchers and a 70% automation rate for report generation across 145 domestic units [5]. - The implementation of smart operations systems has enhanced decision-making capabilities and emergency response coordination across the entire production chain [4]. Group 3: Technological Advancements - CNPC is developing a comprehensive digital ecosystem that includes a financial shared service system and a cloud platform for shale oil, enhancing operational efficiency and data utilization [6][8]. - The company has successfully deployed 58 digital employees using RPA technology, saving over 1,400 hours of work monthly, equivalent to adding eight management personnel without increasing labor costs [8]. - The development of the Kunlun large model has significantly improved efficiency in seismic interpretation and reduced project cycles by over 20% [9]. Group 4: Smart Energy Solutions - CNPC's smart oil fields have integrated over 15 petabytes of exploration and production data, achieving a 90% real-time data entry rate and enhancing operational efficiency by 20% [11]. - The smart gas sales system has connected 940,000 devices and optimized gas supply plans, contributing to the formation of an "Internet + Energy + Life" ecosystem [11]. - The company has established a comprehensive energy station management system that monitors over 20,000 gas stations and 60,000 charging piles, enhancing service delivery and customer engagement [11]. Group 5: Industry Leadership and Recognition - CNPC has been recognized as a pilot enterprise for digital transformation by the State-owned Assets Supervision and Administration Commission, showcasing its leadership in the energy sector [12]. - The company has developed advanced software for seismic data processing, which is now one of the three major mainstream exploration software globally, demonstrating its technological prowess [12].