Core Viewpoint - The 9th Shenzhen Business Festival and the 20th Anniversary of the China Entrepreneur Club highlighted the importance of entrepreneurial spirit and the need for businesses to embrace technological innovation and globalization for high-quality development [1][9]. Group 1: Event Overview - The event took place on January 12 in Shenzhen, featuring a keynote speech by Li Dongsheng, Chairman of the China Entrepreneur Club and founder of TCL [1][9]. - The gathering celebrated the achievements of the China Entrepreneur Club over the past two decades, emphasizing its role in promoting entrepreneurial spirit and facilitating business communication [4][12]. Group 2: Achievements and Contributions - The China Entrepreneur Club has made significant contributions in building bridges between government and enterprises, promoting international trade, and advocating for sustainable development [4][12]. - The Shenzhen Business Association has also evolved over the past twenty years, focusing on five key areas: party building, brand creation, service innovation, talent gathering, and collaborative governance [4][12]. Group 3: Future Outlook - The event underscored the need for Chinese enterprises to adapt to the complexities of the global economy and to leverage national policies aimed at fostering innovation and development [5][13]. - The call to action emphasized the importance of unity among entrepreneurs to enhance confidence and responsibility in navigating the new economic landscape [5][14].

Fiscal Policy - The central economic work conference in 2025 emphasized a more proactive fiscal policy, with a focus on optimizing the "two new and two heavy" projects, including an allocation of CNY 625 billion in special long-term bonds[2] - Approximately CNY 2200 billion is planned for "two heavy" project construction, indicating a significant boost in fiscal spending for 2026[2] Monetary Policy - The central bank aims to maintain a moderately loose monetary policy, balancing growth and price recovery, with potential for rate cuts and reserve requirement ratio reductions in 2026[2] - There is expected room for further monetary easing throughout the year, supporting economic stability and risk prevention[2] Industrial Policy - The 20th Central Committee and the "14th Five-Year Plan" propose building a modern industrial system centered on advanced manufacturing and accelerating high-level technological self-reliance[2] - Key focus areas for 2026 include quantum technology, brain-computer interfaces, 6G, embodied intelligence, and commercial aerospace[2] Macroeconomic Outlook - GDP growth for the first half of 2025 was reported at 5.3%, with a decline to 4.8% in Q3, but 2026 is expected to show resilience despite high base effects[2] - CPI in December 2025 increased by 0.2% month-on-month and 0.8% year-on-year, while PPI showed a similar month-on-month increase, indicating potential for inflation recovery in 2026[2] Investment Recommendations - Technology innovation and advanced manufacturing are projected to be the main development lines, with confidence in GDP growth for 2026, especially as CPI and PPI are expected to exit deflation[2] - The A-share market is anticipated to transition from a technology-driven bull market in 2025 to a broader bull market in 2026, reflecting the overall positive outlook for Chinese assets[2] Risk Factors - Potential risks include slower-than-expected policy progress, economic growth falling short of expectations, and geopolitical uncertainties[2]

Group 1 - The forum "Nobel Heroes Forum: Leading Science and the Future" was held at the University of Hong Kong, focusing on how fundamental research impacts future science, technology, health, and the global economy [1] - The event featured discussions on two main themes: "Building the Future: From Molecules to Materials" and "Deconstructing Complexity: From Cells to Global Economic Regulation Systems" [1] - The President of the University of Hong Kong, Zhang Xiang, emphasized the need for technological innovation to address global challenges and promote the development of fundamental research [1] Group 2 - Niklaus Turner, Executive Director of the Lindau Nobel Laureate Meeting, expressed the hope of gathering more outstanding young scientists from Hong Kong to establish long-term partnerships and facilitate intergenerational dialogue between Nobel laureates and emerging researchers [1] - 2023 Nobel Prize in Physics winner Ferenc Krausz highlighted the importance of international collaboration in scientific development, noting Hong Kong's role as a gateway for East-West cooperation [1] - Konstantin Novoselov, 2010 Nobel Prize in Physics laureate, encouraged researchers to enjoy the process of problem-solving as much as the results, reflecting the professional spirit of scientists [2]

人民财讯1月12日电，据重庆日报，1月12日下午，重庆市人民政府与中国化学（601117）工程集团有限 公司签署战略合作协议。重庆市委书记袁家军说，希望中国化学工程以此次签约为新起点，在生态环境 治理和先进材料产业发展、科技创新等领域与重庆深化合作，携手打造中央企业和地方合作标志性成 果。 ...

Core Viewpoint - The recent national business work conference emphasized the importance of developing service trade, with various regions like Guangdong, Guizhou, and Henan outlining plans for high-quality service trade development by 2026 [1][2]. Group 1: Service Trade Development Goals - Guizhou aims for service import and export to exceed 12 billion by 2027, with digital delivery services accounting for over 35% of total service trade [1]. - By 2030, Guizhou targets service import and export to reach 14 billion, increasing the share of digital delivery services to 45% [1]. - The average annual growth rate of service import and export during the 14th Five-Year Plan period is expected to exceed 5% [1]. Group 2: Characteristics and Drivers of Growth - The service trade in China is showing steady growth, with knowledge-intensive services accounting for nearly 40%, becoming a core driver of this growth [2]. - High-level opening-up is identified as a key driver for stimulating service trade growth, with various regions enhancing their foreign trade platforms [2][3]. Group 3: Strategic Initiatives - Measures such as implementing a negative list for cross-border service trade and creating national service trade innovation development demonstration zones are expected to enhance service trade capabilities [3]. - Focus areas for growth in 2026 include artificial intelligence services, green services, and high-end productive services [3]. Group 4: Recommendations for Improvement - To enhance the "gold content" and "intelligence content" of service trade, reliance on technological innovation and the application of new technologies is essential [4]. - There is a need to deepen integration between service trade and manufacturing, developing productive services like R&D design and supply chain management [4]. - The promotion of institutional openness and alignment with high-standard trade rules, particularly in sectors like healthcare and education, is crucial for achieving breakthroughs [4].

投资咨询业务资格：证监许可【2011】1778 号 金融期权 | 日报 2026 年 1 月 12 日 金融期权 专业研究·创造价值 期货研究报告 股市风险偏好上升，股指持续上涨 今日各股指均震荡上涨，其中中证 1000 与中证 500 涨幅较大。沪深京 三市成交额 36445 亿元，较上日成交额放量 4922 亿元。由于股指已经突破 前期的震荡区间上沿，后续股指大概率保持相对强势。目前股市成交金额大 幅放量，融资买入金额保持高位，说明投资者风险偏好较为乐观。不过目前 股市反弹主要来自于估值端的提升，特别是受益于扶持科技创新政策利好 以及杠杆资金偏好的科技股票涨幅较大，大小盘指数表现有所分化。总的来 说政策面利好预期以及资金净流入股市趋势共同构成股指上行的主要逻 辑，预计短期内股指震荡偏强运行。 期权方面，目前持仓量 PCR 与隐含波动率均有所回升，可以牛市价差 的思路对待。 （仅供参考，不构成任何投资建议） 姓名：龙奥明 宝城期货投资咨询部 从业资格证号：F3035632 核心观点 邮箱：longaoming@bcqhgs.com 作者声明：本人具有中国期货 业协会授予的期货从业资格证 书，期货投资咨询资格 ...

嘿，朋友们，上午刷手机了吗？我猜你刷了。但你可能没意识到，你指尖滑过的每一条信息、看到的每 一个推送，背后可能都站着一个今天在股市里"狂飙"的板块。没错，我说的就是AI应用。大家好，我是 帮主郑重。上午收盘，大盘稳步向上，但最亮眼的风景线，无疑是整个AI应用板块的集体爆发，多只 个股直接冲上了20厘米的涨停板。 看看这场景：从营销创意到内容生成，从图像识别到智能交互，凡是能和"AI+具体应用"沾边的公司， 股价都像坐上了火箭。与此同时，我们持续跟踪的商业航天板块也强者恒强，继续走强。市场的资金偏 好非常明确，就是扎堆在科技创新，特别是那些能看到落地场景的方向。而另一边，像保险这样的传统 权重板块，则显得相对沉寂。这生动的盘面语言告诉我们，增量资金和活跃资金正在哪里"搞事情"。 记住，中长线投资，赚的是产业成长和公司价值增长的钱，而不是情绪波动的钱。热闹的盘面，是我们 观察产业趋势的窗口，但绝不是我们冲动决策的理由。我是帮主郑重，我们不做追风的人，而要做等风 来、并能识别哪阵风能吹得更久的人。保持专注，保持耐心。 那么问题来了，作为中长线投资者，面对这种盘中突如其来的板块性狂欢，我们该怎么办？是跟着情绪 追进去 ...

Core Insights - The article highlights the transformation of Weiyuan County's industries through technological innovation, exemplified by the conversion of seabuckthorn fruit into high-end gel candies using advanced extraction techniques [1][2]. Group 1: Technological Innovation and Industry Upgrade - Weiyuan County is implementing a systematic innovation cultivation system to address resource conversion challenges and promote the upgrade of specialty industries [1]. - The county aims to attract 298 high-level and urgently needed talents in 2025 and has established a "Potato Industry Technology Research Institute" in collaboration with the provincial agricultural science academy [1]. Group 2: Innovation Ecosystem Development - Currently, Weiyuan County has 3 "three high" enterprises, 16 provincial innovative enterprises, 14 "specialized, refined, and new" enterprises, and 26 high-tech enterprises, with 42 national technology-based SMEs [2]. - The county secured 6.15 million yuan in provincial and municipal funding and reported a technology contract transaction volume of 610 million yuan, reflecting an 8.9% year-on-year increase [2]. Group 3: Focus on Key Industries - The county's "Strong Technology" initiative will focus on key industries such as traditional Chinese medicine, potatoes, and livestock feed, accelerating the research and transformation of critical technologies [3]. - The county plans to establish over 4 new technology-based SMEs and high-tech enterprises, as well as 2 new city-level innovation platforms within the year [3].

Core Viewpoint - Chengdu's Pidu District has outlined a comprehensive five-year development plan focusing on modern industrial systems, technological innovation, and deep integration of industry and innovation, aiming for high-quality economic and social development [1] Group 1: Modern Industrial System - The focus is on strengthening the real economy, emphasizing the development of advanced manufacturing as the backbone of a modern industrial system [3] - Key industries include electronic information, military-civil integration, green food, and cultural industries, with specific initiatives like upgrading the "Pixian Douban" brand and enhancing the Chengdu Film City [3] - Emerging industries such as hydrogen energy and solid-state batteries will be prioritized, alongside the integration of AI applications to create new economic growth points [3] Group 2: Technological and Industrial Innovation - The plan emphasizes the importance of technological innovation in shaping new development advantages and fostering deep integration between technology and industry [4] - Strengthening innovation platforms and enhancing corporate innovation capabilities are key strategies, including the establishment of industry chain innovation consortia [4][5] Group 3: Domestic Demand and Economic Growth - The strategy aims to boost consumption and investment, creating a positive interaction between supply and demand to ensure stable economic growth [6] - Specific actions include enhancing consumer rights protection, optimizing investment management, and fostering a supportive business environment for SMEs [6] Group 4: Rural Revitalization and Urban Integration - The plan promotes new urbanization and rural revitalization strategies, focusing on improving infrastructure and public services in rural areas [7] - Development of modern agriculture and integration of rural industries are highlighted to enhance the quality of life in rural communities [7] Group 5: Reform and Opening Up - The initiative aims to integrate into the national market and enhance openness, addressing systemic barriers to promote a dynamic environment for reform and development [8] - Key areas for reform include industrial parks and financial sectors, with a focus on expanding international market reach for local products [8] Group 6: Cultural Development - The plan emphasizes cultural confidence and the promotion of local heritage, aiming to enhance the cultural soft power of the city [9] - Initiatives include creating a 15-minute cultural service circle and integrating cultural, tourism, and sports sectors [9][10] Group 7: Social Welfare and Quality of Life - The focus is on improving living standards and ensuring high-quality employment, education, and healthcare services [11] - Strategies include enhancing social security systems and promoting a multi-pillar pension system [11] Group 8: Green Development - The plan commits to ecological protection and green transformation, aiming for a sustainable and livable environment [12] - Key initiatives include pollution prevention, the establishment of a park system, and the promotion of clean energy [12] Group 9: Safety and Governance - The strategy integrates safety into urban development, enhancing emergency management and smart governance [13] - Emphasis is placed on legal governance and community engagement to resolve conflicts and enhance public safety [13]

Core Viewpoint - The Fujian Provincial Government has issued a set of measures aimed at achieving a strong economic and social development start in the first quarter of 2026, focusing on boosting consumption, expanding effective investment, and supporting the real economy among other areas [1]. Group 1: Boosting Consumption - The measures emphasize the dual engines of consumption and investment to stimulate domestic demand, with specific policies to enhance spring consumption, upgrade service consumption, and promote trade-in programs for consumer goods [2]. - A budget of 15 million yuan is allocated for key consumption promotion activities, and 30 million yuan is designated for subsidies on new passenger vehicle purchases [2]. - Initiatives include cultural and sports events to drive consumer engagement, alongside simplifying subsidy application processes to ensure efficient delivery of benefits to businesses and consumers [2]. Group 2: Expanding Effective Investment - The measures outline goals for the first quarter, including completing 300 billion yuan in investments and starting over 500 key projects, with encouragement for continuous work during the Spring Festival [3]. - Plans include promoting over 600 projects with a total investment exceeding 600 billion yuan, focusing on infrastructure, modern industries, and public services [3]. - The government aims to enhance land use guarantees and streamline the approval process for key projects and public welfare initiatives [3]. Group 3: Supporting the Real Economy - The measures aim to stabilize and strengthen the industrial sector, with incentives for manufacturing enterprises that increase electricity consumption by over 6% year-on-year [4]. - Financial rewards are set for companies participating in supply-demand matching activities, and support is provided for the real estate sector to enhance housing quality and service [4]. Group 4: Enhancing Trade and Investment - The measures include strategies to support foreign trade enterprises in expanding markets and attracting foreign investment, with initiatives like full subsidies for exhibition fees for outbound trade groups [7]. - The government plans to conduct joint investment promotion activities during the Spring Festival, targeting overseas Chinese and business communities [8]. - Policies are also in place to stabilize agricultural production and ensure social welfare, with specific projects aimed at boosting employment and supporting rural communities [8].