新年开新篇，奋进启新程。 在"十五五"开局之年，全国各地涌动实干热潮，各行各业抢抓开局、聚力攻坚，从科技创新研发到企业 生产一线，从项目建设现场到消费市场前沿，发展的活力持续迸发，为2026年经济发展筑好基、开好 局。 在服务新产业中发展新产业 浙江杭州，在算力与新材料赛道，传化集团旗下新安股份（600596）交出了硅基液冷领域技术与商用双 突破的新年答卷。 "我们依托60年有机硅材料研发与工程化经验，成功开发出具备高绝缘性、极低挥发性、优异热稳定性 及环境友好特性的硅基冷却液，完美适配浸没式液冷的严苛要求。"新安股份硅基新材料研究院院长刘 继指着浸没在透明冷却液中的服务器，详细讲解硅基液冷解决方案的细节。 针对数据中心、储能安全、超快充电等不同高热场景，新安股份已形成系列化产品矩阵，覆盖从材料到 系统的全链条，首个硅基浸没液冷商用项目在杭州稳定运行，其在新技术、新场景、新产业（300832） 领域的探索步伐还在继续。 眼下，液冷成为算力刚需，硅基材料凭借性能、成本与环保三重优势，成为液冷产业化的核心支撑，市 场空间加速打开，2026年有望迎来液冷产业化放量的关键节点。 "应用场景越多样、需求越细分，发展潜力 ...

Core Viewpoint - The financial market index showed a positive start in January 2026, increasing from 133.0 to 136.4 year-on-year, and from 134.7 to 136.4 month-on-month, driven by multiple positive signals including loose monetary policy, debt reduction efforts, and the attractiveness of RMB assets amid geopolitical tensions [1][15]. Group 1: Stock Market - The stock market financial index rose from 22.7 to 25.3 from January 2025 to January 2026, reflecting an 11% year-on-year increase and a 2% month-on-month increase, driven by domestic funds, policy support, and the safe-haven appeal of RMB assets [4][19]. - The asset management industry, with a scale of nearly 185 trillion, and the return of cross-border ETFs contributed to the influx of capital into the stock market [19]. - The strong performance of the RMB against the USD, nearing 6.9, and a 4% risk premium in the Chinese stock market enhanced the attractiveness of RMB assets, leading to continued foreign capital inflow [5][19]. Group 2: Macro-Leverage Financial Market - The macro-leverage financial market index increased from 19.6 to 25.9, a 32% year-on-year rise and a 2% month-on-month increase, driven by policy-driven investment expansion and passive leverage increase due to insufficient demand [6][20]. - The macro leverage ratio reached 302.4% by the end of 2025, with a passive increase of 11.7 percentage points throughout the year [20]. Group 3: Banking and Credit Financial Market - The banking and credit financial market index rose from 18.3 to 20.4, an 11% year-on-year increase, but a slight 1% month-on-month decrease, reflecting stable policy support amid weak real demand [7][21]. - The growth in bank wealth management scale by 11.15% and the optimization of assets through debt reduction in key provinces supported credit expansion [21]. Group 4: Currency and Interbank Market - The currency and interbank market financial index surged from 22.7 to 28.3, a 25% year-on-year increase and an 8% month-on-month increase, due to loose monetary policy and abundant liquidity [9][23]. - The narrowing of the interest rate differential between China and the US, along with a weak CPI/PPI, provided ample space for the central bank to maintain a loose policy [23]. Group 5: Non-Traditional Banking Market - The non-traditional banking financial market index rose from 17.2 to 21.8, a 26% year-on-year increase and a 2.3% month-on-month increase, driven by industry clearing and asset management expansion [10][24]. - The exit of over 700 institutions from the market improved the industry ecosystem, while the asset management sector experienced explosive growth across various funds [24]. Group 6: Bond Market - The bond market financial index fell significantly from 32.4 to 14.8, a 54% year-on-year decline and an 11% month-on-month decline, due to supply-demand imbalances and credit risks [11][24]. - The expectation of increased issuance of long-term special government bonds and local special bonds during the "14th Five-Year Plan" period contributed to the supply pressure reflected in the market [12][24].

2月25日，上证指数早盘涨逾1%，钢铁、有色金属、化工板块领涨，市场近4000只个股上涨。小金属板块持续大涨，Wind数据显示，中证稀有金属指数 早盘盘中涨超6%，相关ETF如稀有金属ETF（159608）同步跟涨，盘中交投活跃，涨幅居前。Wind数据显示，稀有金属ETF（159608）最新规模超50亿 元，流动性同类居前；从业绩表现看，该ETF近1年涨幅超114%，在Wind二级分类中排名前2%，期间跟踪指数误差仅0.0326%。 消息面上，美国计划利用五角大楼开发的人工智能项目，为关键矿产制定参考价格，以支撑其构建全球金属贸易集团的计划，首批将聚焦锗、镓、锑、钨 四种金属，随后将逐步扩大覆盖范围。 一键布局稀土+有色，稀有金属ETF（159608，联接A/C类019874/019875）跟踪中证稀有金属主题指数，指数样本聚焦不超过50家业务涉及稀有金属采 矿、冶炼和加工的上市公司证券。截至2月24日，该指数申万三级前10大行业（及权重）分别为稀土（15.1%）、铜（14.1%）、锂（13.4%）、其他小金 属（11.5%）、钨（8.0%）、钴（7.3%）等；前十大权重股覆盖洛阳钼业、北方稀土、华友钴业、盐 ...

Core Insights - The article highlights the significant investment and development activities in Qingyuan, with a total of 68 major projects signed, started, or put into production, amounting to a total investment of 201.4 billion yuan, covering various sectors including advanced manufacturing, modern services, modern agriculture, and ecological tourism [1][5]. Group 1: Project Overview - In the first quarter of 2026, Qingyuan signed 23 major projects with a total investment of 103.7 billion yuan, started 21 projects with an investment of 62 billion yuan, and put 24 projects into production with an investment of 35.7 billion yuan [5]. - The projects include both industrial upgrade initiatives and infrastructure projects that benefit people's livelihoods, aligning with Qingyuan's goal of building a modern industrial system [5][6]. Group 2: Government Commitment - The Mayor of Qingyuan, Chen Jinluan, expressed gratitude to all parties supporting Qingyuan's development and emphasized the city's economic growth, which ranked 4th in GDP growth in the province [5][6]. - The government is committed to optimizing the business environment, aiming to create a "low-cost investment area" and a "high-quality business environment" to attract more resources and projects to Qingyuan [6][8]. Group 3: Business Perspectives - Representatives from companies like Guangdong Jinfa Technology Co., Ltd. and Newan Tianyu Organic Silicon Co., Ltd. shared their positive experiences of investing in Qingyuan, highlighting the supportive government services and favorable business environment [7]. - The companies noted that the government's proactive support has strengthened their confidence in expanding operations in Qingyuan, with ongoing projects focusing on intelligent and digital development [7]. Group 4: Future Outlook - The article concludes that with the successful implementation of quality projects, Qingyuan is poised to enhance its business environment, gaining the trust and choice of entrepreneurs, and aims to drive economic growth and high-quality development [8].

Core Viewpoint - Multiple provinces have adjusted their GDP growth and fiscal revenue targets for 2026, reflecting a shift towards quality development over speed, with an emphasis on sustainable economic growth and risk prevention [1][2][3]. GDP Growth Targets - The average GDP growth target for 31 provinces in 2026 is set at 5.04%, down by 0.2 percentage points from 2025 [2]. - 24 provinces have set their GDP growth targets between 4.5% and 5.5%, with Tibet leading at over 7% due to major infrastructure investments [2][3]. - Jiangxi is the only province to raise its growth target, from around 5% to 5%-5.5%, driven by advancements in new energy and equipment manufacturing [3]. Fiscal Revenue Targets - The average growth target for general public budget revenue across 31 provinces is 2.7%, a decrease of 0.1 percentage points from 2025 [10]. - 23 provinces have set their fiscal revenue growth targets between 2% and 4%, with Xinjiang aiming for a 10% increase, the highest among provinces [10][11]. - Major economic provinces like Guangdong and Jiangsu have set their fiscal revenue growth targets at 3% and 2%, respectively, which are lower than their GDP growth targets [11][14]. Industrial and Investment Goals - Most provinces have set industrial value-added growth targets above 5%, with Tibet aiming for the highest at 15% [16]. - Investment growth targets have been adjusted downwards in many provinces, reflecting a transition from investment-driven to consumption and innovation-driven growth [18]. - Guangdong has set a 5% investment growth target for 2026, aiming to stabilize and optimize investment structures [18]. Consumer and Employment Expectations - Retail sales growth targets have been lowered in most provinces, with 15 out of 19 provinces reducing their targets [21]. - Employment targets remain largely unchanged, with many provinces maintaining their urban employment goals around 5.5% [25].

"十五五"开局之年，中国经济站在新旧动能转换的十字路口。一面是"新质生产力"的火焰熊熊燃烧，一 面是"供强需弱"的海水冰冷刺骨。出口数据强劲，为何企业信心却在走弱？内需要如何激活？中国经 济，如何从"独善其身"走向"共同成长"？ 更多精彩内容，敬请关注2月25日周三晚22:30 东方卫视《两说》节目，第一财经 2月28日周六晚22:00 播出。 两说 Business Insights 经济学家 香中数字经济研究中心 北京大学国家发展研究院院 中国人民银行货币政策委员会委员 02\25 22:30 东方卫视首播 02\28 22:00 第一财经播出 ...

马年开局，上汽将"懂车更懂你"的用户理念落到了实处。 春节期间，上汽推出暖心关怀行动，联动全国超 5000 家服务网点，为车主提供节前免费安全检测、春 节 7×24 小时救援、节后焕新养护的全周期用车保障，同步上线新春购车多重礼遇，把用户服务做深做 透。 正是以用户为中心的务实底色，让上汽在新年开局交出了分量扎实的销量答卷。 上汽2026年1月的销量数据，宣告了这家汽车行业龙头在新年伊始继续保持了领跑地位：整车批售32.7 万辆，同比增幅超23%，终端零售36.3万辆，批发、零售销量规模双双位居行业第一。 这份成绩单的价值，不在于数字多劲爆，而在于增长背后的质量与结构优化。当行业普遍面临转型攻坚 的压力时，上汽用一组实打实的销量数据，印证了其全面深化改革的阶段性成效，而这份成效，也让企 业的发展根基变得更为扎实。 销量增长背后的结构质变 如果说亮眼的销量是上汽改革的外在表现，那么"技术+用户"双轮驱动的转型路径，就是支撑这份表现 的核心支撑。 对这家深耕汽车行业的老牌企业而言，转型不是简单切换赛道——很多传统车企都栽在这一步，要么盲 目跟风造电动车，要么技术停留在实验室，上汽的不同之处，是 "务实"，不玩概念 ...

"史上最长春节假期"落幕，人们带着家乡特产和亲人叮嘱，重新奔赴工作岗位。回望这个春节，不少人 在走亲访友的间隙会生出一丝感慨：如今的年味，好像和小时候不一样了？ 春节期间，有人举家出游，在山水间开阔眼界，把旅途变成亲子课堂；有人卸下疲惫，在陪伴家人中享 受慢生活；有人走进博物馆、文化馆，在非遗体验、书画展览中感受传统文化魅力；有人将父母接到大 城市"反向团圆"，让他们解锁了人生第一次飞行……越来越多的人挣脱应酬束缚，放下物质攀比焦虑， 遵从内心感受，用自己喜欢的方式，度过一个真正属于自己的春节。 其实，年味从不是一成不变的符号，它始终跟着时代脚步悄然变迁。从过去"吃大餐、穿新衣"的热切期 盼，到如今"旅行过年、宅家放松"的从容选择；从执着于物质层面的丰盛，到更看重精神世界的充盈， 年味的每一处变化，都映照出时代的发展、文化的浸润、生活的进阶。 曾经，过年的仪式感似乎更多体现在一件件具体的"物件"上。一桌丰盛的年夜饭、一身崭新的新衣、一 声声响彻街巷的爆竹声……这些鲜明的印记，承载着人们对美好生活最朴素的向往。那时，春节是一年 中物质生活的"高光时刻"。 随着经济社会高质量发展，物质供给极大丰富，吃好穿新早已从 ...

2025年，安徽省汽车产量达到368.65万辆，其中新能源汽车产量179.41万辆，均居全国首位。 奇瑞汽车股份有限公司董事长尹同跃在现场表示，安徽省委、省政府连续两年召开以科技创新引领新质 生产力发展为主题的"新春第一会"，充分体现了开局即冲刺，创新立潮头的决心和担当，让我们倍感振 奋。 尹同跃称，过去一年，安徽作为汽车大省、科创大省，高质量发展气势如虹，奇瑞也趁势迈入发展快车 道，成功实现港股上市，开启了发展的新纪元。今年是"十五五"开局之年，奇瑞将坚持技术突破，持续 推动智仓、智驾、AI智能体、固态电池，高算力芯片等一系列关键技术实现重大突破，巩固拓展安徽 汽车三个全国第一的地位，让世界上越来越多的用户爱上安徽制造、安徽创造。 连续两年参加安徽"新春第一会"的蔚来创始人李斌表示，会议在"十五五"期间为蔚来的发展指明了一个 清晰的方向，蔚来会持续地投入科技创新、技术创新，保证蔚来在"十二全栈技术"方面领先的优势，也 是希望作为安徽新能源汽车产业的一员，能够让更多产业链上的合作伙伴，落户安徽，扎根安徽，为安 徽新能源汽车产业的高质量发展，做出更大的贡献。 2月24日，马年春节后首个工作日，安徽省召开"新春第 ...

Core Viewpoint - The Futian District of Shenzhen has declared 2026 as the "Internationalization Construction Year" in preparation for the APEC meeting, launching a series of measures to enhance its international profile and infrastructure [1][2]. Group 1: Internationalization Initiatives - The "No. 1 Document" outlines the "Internationalization Construction Year" action plan, focusing on creating a world-class urban environment and enhancing international cooperation [2][3]. - The action plan includes 105 specific measures across 21 areas, aimed at improving infrastructure, services, and industry development to facilitate international visitors [3]. Group 2: Infrastructure and Services - Futian will implement a bilingual signage system and develop AI translation products to enhance communication for international visitors, aiming to deploy over 3,000 translation devices [3]. - The district plans to create high-quality visiting routes that showcase its international image, integrating key resources in technology and landscape [3]. Group 3: Foreign Investment and Economic Development - The "Hui Fu Project" will attract multinational company headquarters and R&D centers, offering services to foreign enterprises to establish connections with APEC economies [4]. - The district has published an APEC knowledge manual and a multilingual map to assist visitors in navigating local amenities [4]. Group 4: Strategic Development Engines - Futian aims to develop three new engines: the Xiangmi Lake New Financial Center, the He Tao Shenzhen-Hong Kong Technology Innovation Cooperation Zone, and the Central Park Vitality Circle, to serve as platforms for APEC outcomes [5][6]. - The Xiangmi Lake New Financial Center will integrate finance, technology, culture, and consumption, while the He Tao zone will enhance collaboration with Hong Kong and attract top-tier innovation resources [6].