Group 1: Economic Policy Signals - The Chinese government is focusing on four key policy signals for 2026: stabilizing growth, expanding domestic demand, supporting technological innovation, and stabilizing the real estate and stock markets [1][2] - Various ministries are actively promoting early policy implementation to ensure a smooth start to 2026, including the early issuance of project lists and investment plans [1][2] Group 2: Fiscal and Monetary Policy - The 2026 fiscal policy will continue to be proactive, with an expanded fiscal spending plan and optimized government bond tools to enhance effectiveness [2][3] - The People's Bank of China will maintain a moderately loose monetary policy, with expectations of a 25-50 basis point reduction in the reserve requirement ratio and a 10-20 basis point decrease in the 7-day reverse repo rate [3][4] Group 3: Consumption and Investment - Measures to boost consumption include optimizing the trade-in policy for consumer goods and expanding service consumption, while investment will be supported through various government funding initiatives [5][6] - The government plans to implement a consumption upgrade policy, providing subsidies for trade-ins of automobiles, home appliances, and digital products [6] Group 4: Real Estate Market Stability - The 2026 strategy includes stabilizing the real estate market through targeted policies, such as controlling new supply and utilizing existing housing stock for affordable housing [11][12] - Major cities are expected to further relax housing purchase restrictions and lower mortgage costs to stimulate housing demand [12] Group 5: Emerging Industries Development - The government aims to enhance technological innovation capabilities and support the growth of emerging industries such as integrated circuits, new materials, and biomedicine [8][9] - A new venture capital fund has been established to attract investment in high-tech sectors, with an expected total investment scale exceeding one trillion yuan [9] Group 6: Innovation-Driven Growth - The focus for 2026 will be on building an innovation-driven growth model, emphasizing the integration of short-term policies with long-term structural reforms [10]

Core Viewpoint - The Chinese government is focusing on stabilizing economic growth, expanding domestic demand, supporting technological innovation, and stabilizing the real estate and stock markets as it prepares for the economic goals of 2026, the first year of the 14th Five-Year Plan [1][2]. Economic Policy Initiatives - Various ministries are implementing proactive macroeconomic policies, including enhancing economic monitoring, improving policy tools, and ensuring effective fiscal and monetary policy coordination [2]. - The fiscal policy for 2026 will be more active, with an expanded fiscal spending plan and optimized government bond tools to enhance local financial capabilities [2][3]. - The People's Bank of China will maintain a moderately loose monetary policy, focusing on high-quality economic development and reasonable price recovery, with expectations of a 25-50 basis point reduction in the reserve requirement ratio [2][3]. GDP and Fiscal Projections - The GDP growth target for 2026 is expected to remain around 5%, with a fiscal deficit rate holding steady at 4% and an increase in special bonds to 4.8 trillion yuan [3][4]. - The broad deficit scale is projected to rise from 11.86 trillion yuan in 2025 to approximately 12.45 trillion yuan in 2026, corresponding to a broad deficit rate increase from 8.4% to 8.5% [3]. Consumer and Investment Stimulus - The government aims to boost consumption through practical measures, including optimizing the trade-in policy for consumer goods and expanding service consumption [5][6]. - Investment will be supported through various government funding initiatives, including the issuance of special bonds and increased central budget investments [5][6]. Real Estate and Stock Market Stability - Policies will focus on stabilizing the real estate market through targeted measures, including optimizing housing purchase policies and promoting the use of existing housing for social needs [12]. - The central bank will work on mitigating financial risks in key areas and enhancing market confidence through specific monetary policy tools [13]. Emerging Industry Development - There is a strong emphasis on fostering new and emerging industries, including integrated circuits, new materials, and artificial intelligence, with significant investments planned in these sectors [8][9]. - The establishment of the National Venture Capital Guiding Fund aims to attract substantial investment in high-tech fields, with an expected total investment scale exceeding one trillion yuan [9]. Innovation-Driven Growth - The focus for 2026 will be on building an innovation-driven growth model, enhancing the modern industrial system, and promoting technological self-reliance [10].

□本报记者 陈浩 祁道鹏 新年伊始，中原大地重点项目建设热潮涌动，国内最大的体外诊断产业园在郑州经开区加速成型。 1月13日，记者走进安图生物体外诊断产业园三期项目建设现场，热火朝天的施工场景扑面而来：主体 建筑全部竣工，内部装修紧张推进，部分员工已抢先入驻办公。 安图生物专注于体外诊断试剂和仪器的研发、制造、整合及服务，产品覆盖免疫、微生物、生化等全检 测领域，更在测序、质谱等精准诊断赛道抢先布局。截至目前，该公司产品已进驻全国2600多家三级医 院，覆盖率达64.8%；二级及以上医院终端用户超6700家，产品还远销全球100多个国家和地区，稳稳 跻身国内行业第一梯队。 在安图生物仪器生产中心，自动化流水线高速运转，机械臂精准操作，技术工人轻点屏幕，全流程数据 一目了然。"核心技术攥在自己手里，要让中国智造惠及更多患者！"张瑞峰语气坚定。 作为国内第一家在上交所主板上市的体外诊断领域研发制造型企业，安图生物连续多年研发高投入，既 啃下了技术攻关的"硬骨头"，又收获了产业升级的"甜果实"。 "十四五"期间，安图生物研发投入累计超30亿元，研发费用占比连续多年超14%，研发强度稳居行业第 一梯队。目前，公司拥有 ...

Core Viewpoint - The southbound capital flow into the Hong Kong stock market reached a record net inflow of 1,404.844 billion HKD in 2025, continuing into 2026 with a cumulative net inflow of 41.296 billion HKD as of January 13, 2026, indicating strong market performance driven by this influx [1][2]. Group 1: Southbound Capital Flow - In 2025, southbound capital became the largest source of incremental funds for the Hong Kong stock market, with a total net inflow of 1,404.844 billion HKD, setting a record for annual net inflow [2]. - As of January 13, 2026, there were 6 out of 7 trading days with net inflows, totaling 41.296 billion HKD since the beginning of the year [2]. - The number of shares held by southbound capital increased to 5,643.75 billion shares, with a market value of 6.33 trillion HKD, reflecting a growth of 0.19 trillion HKD since the start of 2026 [2]. Group 2: Market Performance - The Hang Seng Index rose over 4% and the Hang Seng Technology Index increased over 6% since the beginning of 2026, with more than 60% of stocks in the index with a market capitalization exceeding 1 trillion HKD showing an average increase of over 3% [1][5]. - The healthcare, materials, and conglomerates sectors led the market with increases of 15.46%, 12.86%, and 7.62% respectively, while only the telecommunications sector saw a decline of 0.49% [5][6]. - Major stocks such as Tencent Holdings and Alibaba-W saw significant increases, with Tencent rising 4.76% and Alibaba increasing 11.97% since the start of 2026 [6]. Group 3: Investment Outlook - Analysts predict that the southbound capital flow will continue to increase, driven by the low allocation of mainland investors in Hong Kong stocks and the trend of retail funds flowing into the market through ETFs [4]. - The market is expected to benefit from the "14th Five-Year Plan" and the dual easing of fiscal and monetary policies from major economies, with a focus on technology innovation and consumption themes [7][8]. - Five long-term investment directions are suggested: technology sectors including AI, healthcare, resource sectors benefiting from inflation, essential consumer sectors, and industries benefiting from RMB appreciation [8].

专业服务更精准。"气象芯片"、"风清""风和"等大模型，让气象不再只关乎阴晴冷暖，更能提供精细 化、多元化的服务：能源企业收到定制化风能、太阳能预报产品；公众可按需查看关节疼痛指数、洗车 指数等气象指南，高品质生活需要不断满足。 借助科技手段，人们观天识云从肉眼到"天眼"。不止于此，科技创新正在变"观天"为"用天"。持续提升 预报硬科技、更好提供服务软关怀、加强跨领域协同，气象服务走向身边，越来越贴心。 当雷达卫星以百米级分辨率凝视云层流动，当人工智能在纷繁数据中捕捉花粉轨迹，当气象大模型将风 吹日照"翻译"为生活语言，科技创新正推动气象服务精准融入人们的生活。 预警预报更精准。世界上规模最大的陆海空天气象观测系统，让我国天气预报准确率不断提升，变"天 有不测风云"为"逐小时预报"。农业领域，指导灌溉防旱、提示病虫害；台风来临，预警风险影响、推 动防灾减灾，保障生产生活方方面面。 （文章来源：人民日报） ...

Group 1 - The core message emphasizes the importance of the "14th Five-Year Plan" period for Jiangsu's development, highlighting significant achievements in high-quality development and modernization efforts under the guidance of Xi Jinping's leadership [1][2] - The report outlines the strategic focus for the "15th Five-Year Plan," stressing the need for coordinated efforts in technology, industry, reform, openness, ecology, and people's livelihood to ensure a strong economic start [2][3] - The government is urged to prioritize technological innovation, support the emergence of innovative enterprises, and create a conducive environment for research and development, particularly in artificial intelligence [3] Group 2 - The report acknowledges the contributions of various levels of science and technology organizations and workers in achieving the province's goals, emphasizing the collective effort and wisdom involved [1] - It calls for a correct view of performance and confidence in leveraging advantages to address challenges, aiming for sustainable economic growth [2] - The importance of fostering a strong innovation ecosystem and supporting the scientific and entrepreneurial spirit among technology workers is highlighted as essential for advancing Jiangsu's modernization [3]

Group 1: Industry Development and Transformation - The Huainan Modern Coal Chemical Industry Park is focusing on high-end display materials, enhancing production capacity and product quality for applications in smartphones and automotive displays [1] - Huainan is accelerating the construction of a "special new materials industry base" as part of its industrial economic transformation and upgrading strategy during the 14th Five-Year Plan [1][3] - The city is transitioning its energy supply structure from coal-dominant to a multi-energy complementary model, leveraging its rich coal and renewable resources [2] Group 2: Technological Innovation and Manufacturing - The launch of the smart manufacturing production line by Saint Point Technology marks a significant advancement in the industry, focusing on the commercialization of vein recognition technology [4] - The introduction of intelligent rope replacement robots has significantly improved efficiency, reducing construction time by 2 to 3 days and cutting costs by 50% [5] - Huainan is fostering a robust innovation ecosystem, with notable achievements such as the first megawatt-level sodium-ion battery and the first anhydrous ethanol injection solution in the country [5] Group 3: Emerging Industries and Investment - The Huainan Economic and Technological Development Zone is rapidly advancing the construction of a medical device industrial park, with a total investment of 1.527 billion yuan [6] - The city is implementing key industrial chain development actions and has over 1,000 industrial enterprises, including 403 high-tech firms [6][7] - Huainan is actively promoting the development of new energy vehicles and components, with a focus on attracting investment and enhancing local production capabilities [6][7]

Core Viewpoint - The article emphasizes the strategic deployment of accelerating high-level technological self-reliance and strength, guiding the high-quality development of the economy in the new stage, with a focus on the digital business environment as a new type of infrastructure and institutional system [1] Group 1: Digital Business Environment and Technological Innovation - The digital business environment integrates digital technology into various aspects of business operations, including government services and market regulation, playing a crucial role in reducing institutional transaction costs and enabling industrial digital transformation [1] - High-performance computing, high-speed networks, and specialized platforms are essential for technological innovation, with the digital business environment providing a solid material foundation for new productive forces [2] - The construction of digital infrastructure, such as computing hubs and industrial internet backbone nodes, reduces the cost of technology platform establishment for enterprises, particularly benefiting small and medium-sized tech companies [2] Group 2: Institutional Environment and Innovation Risk - The new productive forces are characterized by disruptive and exploratory features, necessitating a stable and transparent institutional environment to mitigate innovation risks [3] - The digital business environment combines institutional innovation with technological empowerment to create a regulatory framework that encourages innovation while managing risks [3] - Initiatives like "one-stop service" and regulatory sandboxes are implemented to break down departmental barriers and provide safe testing spaces for cutting-edge technologies [3] Group 3: Market Efficiency and Resource Allocation - Efficient allocation of core elements such as data, talent, and capital is critical for the development of new productive forces, with the digital business environment serving as a key mechanism to enhance allocation efficiency [4] - Establishing foundational systems for data ownership, circulation, and profit distribution transforms data resources into data assets, unlocking their value [4] - Digital platforms facilitate cross-regional talent matching and enable precise matching of financial resources with the financing needs of tech SMEs, addressing financing challenges [4] Group 4: Collaborative Innovation Ecosystem - The formation of new productive forces requires collaboration among various stakeholders, including academia and industry, supported by a digital business environment that fosters a collaborative innovation ecosystem [5] - The integration of innovation chains and industrial chains through digital platforms promotes the alignment of research outcomes with production needs [5] - A transparent digital market environment helps companies identify market demands and innovation opportunities, optimizing investment in core technology development [5]

（来源：内蒙古日报） □本报记者 白莲 自治区党委十一届十次全会审议通过的《内蒙古自治区党委关于制定国民经济和社会发展第十五个五年 规划的建议》，对加快高水平科技自立自强、因地制宜发展新质生产力作出专章部署，凸显了科技创新 在引领新质生产力发展、构建现代化产业体系中的重要作用。自治区党委十一届十一次全会暨全区经济 工作会议立足新起点、擘画新蓝图，为内蒙古发展明确了主攻方向、指出了实践路径。就如何贯彻落实 好两次全会精神，记者采访了自治区科技厅党组书记、厅长张文韬。 转自：内蒙古日报 因地制宜 培育和发展新质生产力 二是着力推动科产融合发展，积极培育新质生产力。加大企业梯度培育力度，支持科技型中小企业、高 新技术企业和专精特新"小巨人"企业发展，培育更多科技领军企业。加强企业主导的产学研深度融合， 引导企业加大研发投入力度、设立研发机构，支持企业参与重大平台建设、承担重大科研任务、转化应 用重大科技成果，支持企业联合高校、科研院所组建创新联合体，围绕技术突破、场景验证、产业应用 开展有组织科研，让科技创新更好嵌入产业发展全链条。推进"蒙科聚"平台升级版建设，完善自治区技 术要素市场体系，布局建设一批概念验证、中 ...

Core Viewpoint - The 2025 Central Economic Work Conference emphasizes accelerating the construction of a new development pattern and promoting high-quality development, which are interrelated and mutually reinforcing [1][2]. Group 1: Importance of New Development Pattern - Constructing a new development pattern is a strategic plan that has both global and long-term implications for promoting high-quality development, especially in the face of complex external environments and domestic supply-demand imbalances [2][3]. - China possesses significant advantages, including a vast consumer market of over 1.4 billion people and more than 400 million middle-income individuals, which are crucial for achieving high-quality development [2][3]. Group 2: Requirements for High-Quality Development - High-quality development is essential for maintaining sustainable economic growth and adapting to changes in social contradictions, focusing on innovation-driven and structural optimization to enhance productivity [2][4]. - The transition to high-quality development requires a shift from traditional factor-driven growth to innovation-driven growth, emphasizing the importance of technological self-reliance and the cultivation of new productive forces [3][5]. Group 3: Policy Measures for Implementation - Macro policies need to be more proactive, focusing on enhancing internal development momentum through fiscal policies that prioritize public welfare and investment in technology and innovation [4][6]. - Expanding domestic demand is crucial, with strategies to increase consumer income, develop new consumption models, and stabilize investment through effective use of local government bonds [4][6]. Group 4: Innovation and Industrial Development - The integration of technological innovation and industrial development is vital for building a modern industrial system, requiring a focus on basic research and key technology breakthroughs [5][6]. - Strengthening the role of enterprises in innovation and implementing high-quality development actions for key industrial chains are necessary to address existing weaknesses [6]. Group 5: Organizational and Execution Framework - Effective execution of policies requires strong organizational support and mechanisms, emphasizing the importance of party leadership and the establishment of a coordinated approach across various levels of government [7][8]. - Local governments should tailor implementation strategies to their specific conditions while fostering innovation and collaboration among departments and regions to ensure policy effectiveness [8][9].