编者按：中国证监会于近日公开印发《推动公募基金高质量发展行动方案》。随着改革方案的落地实 施，公募基金将更加突出投资者利益导向，投资者的获得感将进一步提升。在此背景下，本报推出"公 募基金高质量发展在行动"系列报道，观察、思考和前瞻公募基金行业的新动向、新需求、新趋势、新 挑战，助力公募基金行业高质量发展。 ● 本报记者王雪青魏昭宇 中国证监会近日印发《推动公募基金高质量发展行动方案》，正式拉开公募基金行业系统性改革的大 幕。行动方案共提出25条举措，推动基金公司从"重规模"向"重回报"转变，通过建立长效考核机制、强 化基金公司与投资者利益绑定等制度设计，推动公募行业回归"受人之托、代客理财"的本源。 多位公募人士向中国证券报记者表示，本次行动方案充分贯彻了以投资者为本的理念。其中，有关建立 健全基金公司收入报酬与投资者回报绑定机制、全面强化长周期考核与激励约束机制等内容，给予公募 机构在市场营销、投研建设等方面诸多启示，有助于基金公司建立与投资者利益一致的薪酬考核体系， 从而激励基金公司更好为投资者服务。 从"收费模式"到"收益共享" 业内人士认为，《行动方案》的一大突破性改革在于对公募传统收费模式的颠覆。 ...

近年来，相关部门针对涉企违规收费问题开展过多次整治，取得了积极成效。但涉企收费涉及主体多、 领域广，违规收费问题仍时有发生，不仅加重了企业经营负担，由此滋生的不公平环境，挫伤了企业创 新积极性，拖累了整体经济运行效率。这需要建立健全涉企收费长效监管机制，进一步加大违规收费治 理力度。 治理涉企违规收费需要全链条推进，事前建立目录清单、完善评估审核，守好"第一道门"最关键。收费 清单化管理，将有力遏制一些政府部门及下属单位擅自设立收费项目、扩大收费范围等违规收费行为， 进而规范涉企收费秩序。 以清单管住涉企乱收费是一场刀刃向内的自我革命，更是重塑政商关系的重要抓手。要把清单制度落实 好、把清单作用发挥好，还需要做好一系列制度配套。 涉企收费乱象是困扰企业生产经营的顽疾。近期，国办印发《关于建立健全涉企收费长效监管机制的指 导意见》，首次提出在全国层面健全涉企收费目录清单制度，要求实现清单全覆盖，清单之外一律不允 许收费。用清单管住涉企乱收费，不仅是优化营商环境的"关键一招"，更是推动政府治理现代化的重要 实践。 清单要清楚明白。各地区各部门要积极落实政策部署，建立政府部门及下属单位综合性涉企收费目录清 单，实现 ...

A 股策略周报 20250427 静而不争 2025 年 04 月 27 日 ➢ 衰退预期回摆，风险资产反弹之后又到关键的路口。随着全球衰退预期回摆， 风险资产上行，黄金下跌。但值得关注的是，日股、德股和美股的纳斯达克指数 在经过这一轮反弹修复之后，已经快回到了加征关税之前的位置。基本可以确定 的是无论如何"缓和"，经济的状态也回不到加征关税之前。值得关注的是，相较 于 2018 年，中国对美出口依赖度已明显下降，但美国对中国进口依赖度并未改 善，中国经济将在本轮的博弈中更具韧性。从这个角度而言中国资产在全球范围 内可能更具性价比。从 A 股内部来看，内需+金融板块的大部分股票已经回到加 征关税之前的位置，甚至部分创出新高；另一方面，前期跌得最多的受损板块反 弹较大，但并未创出新高，或许只是有限修复。市场的风险度相较之前已经明显 下降，新的趋势已经开始，中国新的内外需构建工作或许是核心，短期不确定性 的下降并未逆转这一主线。我们认为，中美贸易摩擦"缓和"与否市场都会进入 冷静期：由于前期资本市场是本轮贸易冲击维稳的核心，如果出现缓和，那么前 期对冲板块可能面临压力，市场的维稳力量也会逐步撤出；反之，市场的定价 ...

Core Viewpoint - The successful application of Sinapara aramid fiber in thermoplastic pipes enhances the operational efficiency and cost-effectiveness of subsea oil pipelines, providing safer solutions for offshore oilfield development [2][3] Group 1: Product Innovation - Sinapara aramid fiber SF6800 has been developed and applied for the first time in the enhancement of RTP pipes in China, addressing the challenges of subsea pipeline maintenance [2] - The new composite flexible pipeline features a corrosion-resistant inner layer, an aramid fiber reinforcement layer, and a wear-resistant outer layer, significantly improving the performance of subsea oil pipelines [2] Group 2: Operational Efficiency - The new RTP pipes can be inserted into existing pipelines, restoring their sealing and strength through thermal shrinkage, effectively solving deep-sea pipeline repair challenges [2] - Compared to traditional steel and fiberglass pipes, the aramid-reinforced RTP pipes exhibit high impact resistance, hydrolysis resistance, and stress corrosion resistance, suitable for transporting corrosive oil and gas [3] Group 3: Cost and Longevity Benefits - The installation efficiency of the new RTP pipes is five times that of traditional methods, with installation costs reduced by nearly 30% [3] - The lifespan of the new pipes can reach up to 25 years, with continuous lengths of several hundred to over a thousand meters, minimizing joints and significantly reducing the risk of pipeline leaks [3]

Core Viewpoint - The State Council has approved the "Guiding Opinions on Establishing and Improving the Long-term Regulatory Mechanism for Enterprise-related Charges," marking a new phase of standardized regulation in enterprise-related charges in China [1][2]. Summary by Relevant Sections Key Tasks - The guiding opinions emphasize seven key tasks to enhance the regulatory system for enterprise-related charges, including establishing a comprehensive directory of charges, improving policy evaluation mechanisms, and strengthening monitoring and reporting systems [3][4]. - The establishment of a comprehensive directory of enterprise-related charges aims to ensure transparency and prevent arbitrary fees, requiring all departments and provinces to create their own directories [5]. Problem-Oriented Approach - The guiding opinions focus on addressing prominent issues reported by enterprises, such as the complexity and dispersion of charge policies, by implementing a directory system that clearly outlines service content and corresponding charges [4][6]. - The mechanism for collecting and processing complaints about charge issues is designed to provide a systematic and stable channel for enterprises to voice concerns, thereby enhancing the effectiveness of regulatory measures [6]. Comprehensive Governance - The guiding opinions advocate for a holistic governance approach that includes preventive and punitive measures, aiming to eliminate the root causes of enterprise-related charge issues while also addressing existing violations [7][8]. - The opinions highlight the importance of inter-departmental collaboration to effectively tackle the widespread issue of arbitrary charges, ensuring that responsibilities are clearly defined and enforced [8][9]. Policy Evaluation Mechanism - A robust evaluation mechanism for charge policies is proposed, requiring strict assessments before the introduction of new charges and the cancellation of any existing charges that lack legal basis [9]. - This shift from merely reducing burdens to establishing a systematic approach to governance is seen as a significant reform in optimizing the business environment and reducing institutional transaction costs for enterprises [9].

Core Viewpoint - The State Council has issued guidelines to establish a long-term regulatory mechanism for enterprise-related fees, aiming to standardize fee practices and reduce the financial burden on businesses [1][2]. Group 1: Key Features of the Guidelines - The guidelines emphasize comprehensive governance, covering pre-, during, and post-regulation of fees [1]. - They focus on source governance, targeting areas with frequent violations such as administrative approval intermediaries and industry associations, while also improving relevant laws and regulations [1]. - Collaborative governance is highlighted, with a focus on strengthening inter-departmental cooperation to form a unified regulatory force [1]. Group 2: Implementation Measures - A standardized fee directory will be established, with a unified format for fee items, and regular checks on compliance will be conducted [1][2]. - The Ministry of Industry and Information Technology will work with the Ministry of Finance to manage enterprise-related guarantees, aiming to reduce cash guarantees and expand the use of insurance alternatives [2]. - The Ministry of Finance has published a comprehensive directory of government funds and administrative fees, ensuring that no fees outside this directory can be charged [2][3]. Group 3: Ongoing Monitoring and Evaluation - Continuous inspections of enterprise-related fee violations will be conducted to ensure the effectiveness of fee reduction policies [3]. - The State Administration for Market Regulation is developing a comprehensive rectification plan to clarify review standards and procedures for fee policies [3]. - There will be a focus on inter-departmental collaboration to analyze the fee situation and evaluate policy effectiveness [4].

每经记者 周逸斐 每经编辑 陈星 近年来，党中央、国务院高度重视涉企收费领域的监管和改革，长期坚持不懈开展整顿和治理，已经取得明显成效。当前，涉企收费秩序明显好转，收费项 目逐渐明确，收费行为更加规范，加强涉企收费监管、健全长效监管机制已经成为我国优化营商环境的重要手段。 近日，国务院办公厅印发《关于建立健全涉企收费长效监管机制的指导意见》（以下简称《指导意见》），这是首次在国家层面提出建立健全涉企收费长效 监管机制，具有重大意义。 涉企收费长效机制的建立对民营企业意味着什么？当前政策环境下，民营企业需如何进一步提升核心竞争力？ 围绕上述问题，在国家发展改革委近期召开的"贯彻落实习近平总书记在民营企业座谈会上的重要讲话精神 促进民营经济高质量发展"会议上，《每日经济 新闻》（以下简称NBD）记者专访了内蒙古东源投资集团有限公司（以下简称东源集团）董事长王靖。 东源集团始创于1997年，是中国北方地区以环保水务投资、城市基建投资、矿业投资与金融股权投资于一体的综合性大型集团公司，拥有34家分、子公司， 业务遍布北京、内蒙古、安徽、黑龙江等省市，是北方大型环保水务投资运营企业之一、重点主板拟上市企业。 "清单之外 ...