当前，全球经济格局加速演变，准确理解中国宏观趋势与市场机遇尤为重要，国际金 融机构正深入研判"十五五"开局之年的发展路径与投资机会。 新年伊始，来自汇丰银行、渣打银行等多家国际金融机构的首席经济学家、投资策略总监接受了 证券时报记者的采访，多家机构不约而同地将"十五五"规划建议作为分析核心，从增长目标、政 策重点、产业动能到资产"跟投"，系统勾勒出一幅以"内需主导、创新驱动、高水平开放"为关键 词的中国经济新图景。 保持中高速增长 向内需与创新要动力 对于2026年中国经济的增速设定，外资机构给出了贴近"潜在增长水平"的预测。 渣打银行大中华区及北亚首席经济学家丁爽预计，2026年的增长目标将设定在4.5%—5%，实际 增速预测为4.6%。"这一目标与潜在增长水平及2035年长期发展目标相匹配，也意味着增长模式 将更侧重内需主导与创新驱动。"丁爽指出。 汇丰银行环球投资研究大中华区首席经济学家刘晶认为，中国经济将继续推进结构性转型并保持 合理增长。他强调，在进出口更加趋于平衡的同时，包括消费和投资在内的国内需求将成为驱动 增长的主要动能。 上述判断与"十五五"规划建议中"居民消费率明显提高"的目标高度契合。刘 ...

1月7日下午，上海市静安区召开"十五五"规划各界人士征求意见座谈会，邀请10位来自科研院校、国有 企业、外资企业、民营企业的各界人士代表为静安"十五五"发展建言献策。 会上，区发展改革委介绍了静安区"十五五"规划纲要（草案）的主要内容。各界人士代表立足各自的专 业领域围绕静安"十五五"规划纲要踊跃发言。同济大学党委副书记刘润提出，推动科研院校与静安共建 高能级的政产学研用的创新联合体，赋能静安产业的能级跃升；路威酩轩大中华区总裁吴越提出，消费 场景创新要关注聚人聚事；毕马威中国副主席杨洁提出，要以开放提升服务深度构建国际静安服务的新 场景，以创新焕新科技城区的新魅力；上海思朗科技股份有限公司董事长、CEO查浩提出，要将科学智 能纳入到"十五五"规划的重点发展领域。 区委书记钟晓咏认真听取与会专家的发言，不时与发言专家就相关内容进行深入交流探讨，并要求与会 部门认真研究落实各界人士代表的意见建议，将大家的真知灼见切实纳入到"十五五"规划纲要之中。钟 晓咏表示，专家们非常专注研究了静安在"十五五"发展中需要把握的重要领域和趋势，对静安理解非常 深刻也充满感情。他提出，一是要坚持把静安的发展放到上海"五个中心"建设 ...

痛点 尽管数字化进程在政策东风下不断加快，物流企业在实践中仍面临多重挑战，这些痛点也与"十五五"规 划强调的"统筹发展和安全"、"提升产业链韧性"等要求紧密相关。 信息安全与隐私保护难题：物流环节涉及大量用户敏感信息，纸质面单遗失或电子数据泄露风险高，易 引发法律纠纷与客户信任危机，这与"强化重要数据和核心数据识别与保护"的监管方向相悖。 单据法律效力与存证困境：电子凭证的法律效力与纠纷时的证据有效性是企业普遍隐忧的问题，在倡导 高质量发展的环境下，企业需构建坚实的合法合规屏障。 操作效率与成本平衡问题：线上线下（300959）流程割裂、人工环节多，影响运营效率与成本控制，难 以响应"培育新质生产力"、"优化提升传统产业"的号召。 身份核验与操作溯源缺失：传统的身份识别手段导致代签、冒领等现象仍存，各环节责任难以精准追 溯，不符合"深入实施安全生产治本攻坚"和提升治理效能的要求。 跨境业务的合规门槛高企：符合国内外数字身份与数据合规要求的技术与法律成本高昂，而"十五五"强 调"扩大高水平对外开放"，亟需与之匹配的全球化信任工具。 当前，我国物流行业正迎来一场全面而深刻的数字化转型浪潮。在电子商务高速发展、供应 ...

Market Overview - The Hang Seng Index fell by 1.22%, down 322 points, closing at 26,136 points; the Hang Seng Tech Index decreased by 1.13%, with early trading volume at 130.6 billion HKD [1] New Listings - Three new stocks listed, all showing gains: - Zhiyuan (02513) increased by 11.7%, announcing the upcoming launch of its next-generation model GLM-5 - Tianshu Zhixin (09903) rose by 11%, being the first domestic general-purpose GPU company - Jingfeng Medical-B (02675) surged by 29%, focusing on the laparoscopic surgical robot sector [1] Brain-Computer Interface Sector - Most stocks in the brain-computer interface sector rose, benefiting from the "14th Five-Year Plan" key layout, with significant catalysts emerging domestically and internationally: - Brainhole Aurora-B (06681) increased by 9% - Micron Brain Science (02172) rose by 5.3% - Nanjing Panda (600775) (00553) gained over 4% [1] Satellite Communication - Asia-Pacific Satellite (01045) surged by 12%, with its stock price doubling over the past three weeks, primarily engaged in satellite communication services [1] Shipping Sector - COSCO Shipping Energy (600026) (01138) rose over 5%, with geopolitical disturbances favoring the compliant tanker market; Morgan Stanley indicated its short-term valuation is attractive [2] Pharmaceutical Sector - Corning Jereh Pharmaceutical-B (09966) increased over 6% after the IND application for SKN033's Phase II clinical trial was accepted - Fuhong Hanlin (02696) rose over 4%, announcing its first PD-L1 ADC esophageal squamous cell carcinoma Phase II clinical data - Zhaoyan New Drug (603127) (06127) gained over 3%, with a growing supply-demand gap for experimental monkeys, possessing valuable scarce resources [3] Gaming Sector - Macau gaming stocks faced collective pressure, with Melco International Development (00200) and Sands China (01928) both declining over 2% [3] Company-Specific Issues - Polkan Vision Cloud-B (02592) plummeted over 18% due to a court-ordered judicial preservation of its subsidiary's bank account, coinciding with the recent unlocking of cornerstone shares [4]

南都·湾财社：四中全会审议通过的"十五五"规划建议，将"全国统一大市场建设纵深推进，超大规模市场优势持 续显现"作为经济社会发展的主要目标之一。您如何理解统一大市场与消费之间的联系？ 黄文涛：纵深推进统一大市场建设，将充分发挥我国超大规模市场优势，加快我国消费需求释放和升级，我国居 民的新科技产品、体育、旅游、养老、育儿、文化和个性等众多的、差异化的新消费，都将呈现增量提质格局。 按"十五五"时期战略部署，将加快推进"五统一、一开放"改革，统一市场基础制度，统一市场基础设施，统一政 府行为尺度，统一市场监管执法，统一要素资源市场，持续扩大对内对外开放；同时，将着力稳就业、稳企业、 稳市场、稳预期，把投资于人和投资于物更紧密结合，提升居民收入合理增长，改善国内供强需弱的阶段性结构 矛盾。 随着经济结构转型提质的效果逐渐显现，随着居民的工资性收入、财产性收入和转移性收入的增速逐步企稳回 升，我国14亿人口消费向新升级的巨大潜力释放，将是下一阶段经济增长的必然阶段。在政策促进方面，12月28 日全国财政工作会议在北京召开，会议提出，2026年财政工作排序第一的重点任务，就是要抓好坚持内需主导， 支持建设强大国内市场 ...

今年是"十五五"规划开局之年，近日，各地以"新年第一会"为抓手，精准谋划开年工作。 营商环境 "优"无止境 "十五五"开局之初，优化营商环境成为多地开年工作的"重头戏"。上海、辽宁、福建等省份相继召开优化营商环境专题大会，拉开新一年发展序 幕。 辽宁将优化营商环境定位为"十五五"时期"最重要、最现实、最紧迫的战略任务"。 辽宁全省优化营商环境大会提出全力打造"营商环境最佳口碑省"目标，发布《辽宁省大力优化营商环境行动方案（2026版）》，制定6个方面共34 条举措。 刀刃向内、自我革命，下决心抓营商环境，辽宁以问题为导向列出八个整治重点，包括服务意识不强，政府不讲诚信、承诺不兑现，行政效能不 高，检查执法不规范，政策效果打折扣、企业和群众获得感不强，吃拿卡要、以权谋私，"关系文化"盛行，市场意识不强等顽疾。 辽宁省发展和改革委员会主任周轶赢表示，营商环境看似是无形的"软实力"，实则是发展的"硬支撑"。只有营商环境的大改善，才能有"十五 五"辽宁全面振兴的大发展。 从上海、辽宁、福建等省份聚焦营商环境持续优化，到海南冲刺封关首年"开门红"、重庆聚力提升双城经济圈发展能级……一系列高规格部署、 针对性举措密集落地 ...

Group 1 - The core viewpoint emphasizes the importance of financial asset management companies in supporting the "15th Five-Year Plan" and enhancing financial security while promoting high-quality economic development [1][2][3] - Financial asset management companies are expected to transition from a focus on risk prevention during the "14th Five-Year Plan" to improving efficiency and market-oriented operations, thereby better serving the real economy [1][2] - The "15th Five-Year Plan" outlines key principles such as comprehensive party leadership, prioritizing people, high-quality development, and deepening reforms, which guide the construction of a financial powerhouse [3] Group 2 - Financial asset management companies play a crucial role in risk resolution and supporting the real economy by focusing on the acquisition and disposal of non-performing assets and assisting troubled enterprises [4] - The companies are tasked with fostering innovation in financial services, particularly in high-tech sectors, by utilizing specialized investment tools to optimize capital structures and support critical industries [5] - In the real estate sector, financial asset management companies are expected to act as stabilizers and lead risk resolution efforts, engaging in urban renewal and improving living conditions through various financial strategies [6] Group 3 - The companies are encouraged to align with national strategies such as the "Belt and Road Initiative" and regional coordinated development, optimizing resource allocation and mitigating financial risks [7] - They should focus on sectors that align with the "Belt and Road Initiative," such as new energy and digital economy, while also enhancing asset restructuring and investment in key regions [7]

Core Viewpoint - The 2026 National Civil Aviation Work Conference has outlined a grand blueprint for the development of the civil aviation industry during the "14th Five-Year Plan" period, emphasizing the importance of a strong start and the need for collective efforts to ensure high-quality growth in the sector [2][7]. Group 1: Industry Development Strategy - The civil aviation industry is positioned to leverage China's strong economic fundamentals, resilience, and potential for long-term growth, supported by proactive fiscal and monetary policies [2][3]. - The industry must focus on enhancing aviation safety as a priority to ensure stable and sustainable development [3][4]. - A comprehensive approach is required to integrate domestic and international markets, expanding demand and enhancing service offerings to meet diverse passenger needs [4][5]. Group 2: Operational Efficiency and Reform - The industry aims to improve core competitiveness by enhancing operational efficiency and service quality, addressing issues of "involution" in competition [5][6]. - Reforms in regulatory frameworks and the implementation of the revised Civil Aviation Law are essential to improve governance and operational effectiveness [5][6]. - Continuous improvement in flight operation quality and passenger service, especially for irregular flights, is a key focus area [5]. Group 3: Leadership and Governance - The comprehensive leadership of the Party is identified as a fundamental reason for the historical achievements in civil aviation, which must be maintained to ensure ongoing progress [6][7]. - High-quality party building is essential to guide high-quality development in the civil aviation sector [6][7].

Core Viewpoint - The article discusses the importance of financial asset management companies in supporting China's economic development during the 15th Five-Year Plan, emphasizing their role in risk management, financial reform, and service to the real economy [1][2][3]. Group 1: Financial Strategy and Goals - Financial asset management companies must align with the 15th Five-Year Plan by transitioning from a focus on risk prevention to enhancing efficiency and market-oriented operations, thereby better serving the real economy [2]. - The construction of a financial powerhouse is crucial for achieving the strategic goals of the 15th Five-Year Plan, requiring a well-functioning financial system that supports resource allocation and industrial upgrading [2][3]. Group 2: Principles and Guidelines - The 20th Central Committee emphasizes six principles for the 15th Five-Year Plan, including comprehensive leadership, prioritizing people, high-quality development, and the integration of effective markets with proactive government [3]. - Financial asset management companies are tasked with advancing financial risk prevention, strengthening regulation, and promoting high-quality development in line with these principles [3]. Group 3: Industry Mission and Responsibilities - Financial asset management companies play a vital role in risk resolution and supporting the real economy, focusing on the acquisition and management of non-performing assets and distressed enterprises [4]. - The companies are expected to enhance their service to the real economy by addressing issues related to problematic debts and assets, thereby facilitating the transformation and upgrading of traditional industries [4]. Group 4: Innovation and Technology - Financial asset management companies should focus on integrating financial, technological, and industrial innovations, particularly in key areas such as artificial intelligence and advanced materials, to support high-level technological self-reliance [5]. - The companies are encouraged to utilize specialized investment tools to optimize capital structures and support the restructuring of enterprises in critical sectors [5]. Group 5: Real Estate and Regional Development - Financial asset management companies are positioned to act as stabilizers in the real estate market, engaging in risk resolution through various strategies such as asset acquisition and debt restructuring [6]. - The companies should actively participate in urban renewal projects and the construction of affordable housing to promote high-quality development in the real estate sector [6]. Group 6: National Strategy and Global Engagement - Financial asset management companies are urged to align with national strategies, particularly in the context of the Belt and Road Initiative, by exploring cross-border asset restructuring and investment opportunities [7]. - The companies should leverage their resource allocation capabilities to support regional coordinated development, enhancing asset optimization and facilitating the flow of resources across key economic regions [7].

记者 张骏 陈吉宁说，过去一年，中央媒体聚焦上海加快"五个中心"建设、进一步全面深化改革开放、扎实推 进人民城市建设等重点工作，推出了一系列有品质、有深度、有温度的精品力作，舆论引导有力有效， 国际传播出新出彩，意见建议可圈可点，感谢大家为上海发展建言献策、加油鼓劲。新的一年，希望中 央媒体持续关心关注上海发展，锚定全市上下推动习近平新时代中国特色社会主义思想在浦江两岸落地 生根、开花结果这一鲜明主题，紧扣深化"五个中心"建设、推进现代化人民城市建设等重大使命任务， 加强正面宣传引导，更好凝心聚力、凝魂聚气。以专业视角、权威声音解读好上海经济社会发展重大政 策举措，把上海现代化建设中碰到的裉节难题深入研究好，提出更多启发性、突破性的实招高招，更好 回应社会关切，提振发展信心，引导社会预期。我们将持续为中央媒体在沪开展工作创造更好环境。 市委书记陈吉宁昨天下午在与中央主要新闻单位驻沪机构负责人座谈时说，今年是"十五五"开局之 年，上海要深入贯彻落实党的二十届四中全会和习近平总书记考察上海重要讲话精神，为国担当、勇为 尖兵，干字当头、奋力一跳，努力在推进中国式现代化中充分发挥龙头带动和示范引领作用。希望中央 媒体 ...