Core Insights - Chengdu is reshaping its economic landscape through a robust digital infrastructure, driven by advancements in computing power, integrated facilities, and data elements [1] Group 1: Computing Power - Chengdu's total computing power has reached 8754 PFlops, with the national supercomputing center achieving speeds of 10 quintillion calculations per second, enabling advanced research [4] - The AI industry in Chengdu is projected to reach a scale of 107.9 billion yuan in 2024, marking a 39% year-on-year growth, with significant increases in both core industry size and the number of related enterprises [4] Group 2: Integrated Infrastructure - Chengdu has established 283 smart factories and digital workshops, becoming a pilot city for "5G + Industrial Internet" applications, facilitating a comprehensive transformation in manufacturing [5] - The city has built a national top-level node in the industrial internet sector, with a registered volume of 10.92 billion identifiers, and has developed extensive testing scenarios in the vehicle networking domain [5][6] Group 3: Data Activation - Chengdu has opened 319 million public data entries since 2018, with over 6.19 million visits to its public data platform, aiming to activate dormant data for industrial growth [9] - The "Rong Data Park" serves as a public service space for the data element industry, attracting 261 data vendors and offering 1050 data products, contributing over 1.4 billion yuan to secondary data vendors [9]

Core Viewpoint - The Asian Infrastructure Investment Bank (AIIB) is positioned as a new multilateral development bank headquartered in Beijing, focusing on green and low-carbon infrastructure, digital infrastructure, and cross-city connectivity among other areas for future investments [1][5]. Group 1: AIIB Overview - AIIB was established in 2015 and began operations in 2016, growing from 57 founding members to 110 members, covering 81% of the global population and 65% of global GDP [3][11]. - As of June 24, 2025, AIIB has approved 322 projects with total financing exceeding $60 billion, mobilizing over $200 billion for infrastructure development, benefiting 38 members both within and outside Asia [3][11]. - In China, AIIB has approved 22 projects with a total investment of $4.6 billion, focusing on key areas such as green transportation, clean energy, and public health [3][11]. Group 2: Advantages of Beijing - Beijing's location facilitates efficient communication and collaboration with host countries, enhancing AIIB's operational effectiveness [4]. - The city’s high level of internationalization, with numerous embassies and multinational corporate headquarters, provides a conducive environment for multilateral dialogue and global cooperation [4]. - Beijing boasts strong financial and technological foundations, leading in green finance and digital infrastructure, which supports innovative financing and technology-driven projects for AIIB [4]. - The rich talent pool and think tank resources in Beijing, particularly from top universities, enhance policy research capabilities beneficial for AIIB's diverse projects [4]. - Beijing's status as a transportation hub allows for efficient organization of international meetings and events, facilitating global business interactions [4]. Group 3: Key Investment Areas - Future investments in Beijing will focus on six major areas: 1. Green and low-carbon infrastructure, including projects for green transportation and renewable energy [8]. 2. Digital infrastructure, enhancing smart city capabilities through advanced technologies [8]. 3. Social infrastructure, addressing public health and education needs [8]. 4. Climate resilience and disaster prevention, improving urban adaptability to climate change [8]. 5. Technology-driven and innovative projects, promoting replicable models for national and international application [8]. 6. Cross-city connectivity, enhancing infrastructure integration across regions [9]. Group 4: Recognition and Governance - AIIB has gained widespread international recognition due to its transparent governance, aligning with multilateral development bank standards [11][12]. - The bank has maintained a robust operational framework, with a total of 322 projects approved and financing exceeding $60 billion, while adhering to the Paris Agreement [11][12]. - AIIB holds a AAA credit rating from three major international agencies, positioning itself as a key player in global infrastructure development and governance [12].

Core Insights - The richness of application ecosystems is becoming a key way for large model vendors to showcase their capabilities, with domestic foundational models rapidly penetrating various scenarios [1] - The head effect of foundational models is becoming more pronounced as the "hundred model battle" shrinks, with DeepSeek, Tongyi, and Tencent's Hongyuan ranking among the top ten globally according to the Chatbot Arena [1] - Foundational models are evolving into a new digital infrastructure that can spawn numerous applications, shifting the competitive landscape from individual companies to ecosystem battles [1][2] Industry Analysis - The ability of a large model platform to attract more developers and build a vibrant application ecosystem may lead to a "winner-takes-all" scenario, raising new challenges for antitrust authorities regarding market definitions [2] - Regulatory frameworks should be cautiously defined to balance intervention and market incentives, allowing private enterprises maximum innovation space in digital infrastructure, as long as national information security and fairness for individuals and small businesses are not compromised [2] - Although the ecosystem of foundational models is expanding rapidly, the impact of AI on macro productivity may take time to manifest, reflecting the classic Solow paradox where technological advancements do not immediately translate into productivity gains [3] - AI agents are emerging as a popular application direction for large models, with predictions that 20%-30% of office tasks could be automated, potentially reallocating labor to new technology-driven fields [3]

一、构建数智化协同体系，维护全球产业链供应链安全稳定。依托数智技术构建全球供应链协作平台， 促进人工智能和数字基础设施联通，探索推进数字技术和人工智能赋能实体经济，深化产业链供应链国 际合作。 中国贸促会主办的2025年全球贸易投资促进峰会在北京举办，峰会以"拥抱数智时代，携手共同发展"为 主题，同时会上发布了《2025年全球贸易投资促进峰会北京倡议》，内容为： ...

Core Insights - The issuance of the first data center holding-type real estate ABS in China marks a significant innovation in the digital infrastructure sector, facilitated by SPDB Beijing Branch [1][2] - The ABS is backed by high-quality data centers, with funds allocated for the acquisition and operation of core financial data center assets [1] - The collaboration among SPDB, WanGuo Data, GuoShou Investment, and CITIC Securities has successfully addressed challenges in the IDC development, enhancing asset liquidity and financing channels for data center enterprises [2] Group 1 - The "CITIC Securities-WanGuo Data 2025 Phase 1 Data Center Holding-Type Real Estate Asset-Backed Special Plan (Sustainable Link)" was successfully listed on the Shanghai Stock Exchange [1] - SPDB Beijing Branch played a crucial role in coordinating with relevant institutions and participating in the design discussions for the product structure and terms [1] - The innovative design of the acquisition financing scheme aligns with the ABS product structure, determining loan terms, repayment plans, valuation requirements, and risk control clauses [1] Group 2 - The successful issuance of the first data center holding-type real estate ABS acquisition loan is a positive step for data center companies to activate existing assets and improve their financial statements [2] - The project was advanced under the guidance of regulatory bodies such as the Shanghai Stock Exchange, showcasing effective collaboration among financial institutions [2]

Group 1 - The sixth European Political Community leaders' meeting took place in Tirana, Albania, with around 50 leaders discussing European security and economic challenges [1] - The meeting's theme was "A New Europe in a New World: Unity, Cooperation, and Joint Action," focusing on issues such as the Russia-Ukraine conflict, innovation, digital infrastructure, energy sustainability, and supply chain security [1] - European Council President Costa called for deepening global trade cooperation and resisting protectionism [1] Group 2 - European Commission President von der Leyen announced that the EU is prepared to implement new large-scale sanctions against Russia, including listing more vessels belonging to Russia's "shadow fleet," lowering the oil price cap, and imposing further sanctions on the Russian financial sector [1]

Group 1 - The forum on "Inclusive Internet: Connecting People, Co-creating the Future" was held in Hanoi, Vietnam, co-hosted by VNNIC and ICANN, emphasizing the importance of digital infrastructure and DNS security for Vietnam's digital economy [1] - The Deputy Minister of the Ministry of Science and Technology highlighted the need for collaboration with international partners to promote an open, secure, and inclusive internet [1] Group 2 - The ".vn" national domain will celebrate its 30th anniversary in 2024, marking the establishment of Vietnam's cyberspace sovereignty, with current registrations reaching 650,000, ranking 2nd in ASEAN, 10th in the Asia-Pacific, and 40th globally [2] - The Ministry of Information and Communications has introduced breakthrough policies to support SMEs, individual businesses, youth, and students, aiming for 1 million ".vn" domain registrations to accelerate digital transformation [2] - The increase in domain and website numbers is expected to enhance the security and credibility of the national domain brand, with the Ministry of Science and Technology actively promoting the ".vn" domain [2]

财务数据显示，截至2024年12月31日，世纪互联收入总额82.59亿人民币，同比增长11.41%；归母净利 润1.83亿人民币，同比增长106.93%。 大事提醒： 5月6日，世纪互联(VNET)开盘上涨2.16%，截至21:31，报7.11美元/股，成交88.66万美元，总市值19.13 亿美元。 世纪互联在全国30多个城市运营超过50座数据中心,基地型业务运营容量超过480MW,城市型业务运营机 柜数超过52000个。在京津冀、长三角、粤港澳等区域构建了规模化的数据中心产业集群,形成了稳固、 庞大、全连接的数字化核心底座,不仅满足企业在一线城市的业务布局,更可提供一线城市向边缘城市数 据的平滑迁移。此外,作为微软的战略合作伙伴, 世纪互联蓝云在国内运营国际水准的Microsoft Azure,Microsoft 365,Dynamics 365和 Power Platform等云服务及相关云应用解决方案。 依托雄厚的资源和资本实力、强大的科技创新能力、高效的交付能力、卓越的运营能力,世纪互联已为 全球超过6000家优质企业客户打造了业务发展的稳固基石,其中包括近百家全球高增长的行业领军企业, 积累了宝贵 ...

工业和信息化部副部长张云明在北京会见赤道几内亚交通、邮政与通信部部长奥马，就加强数字和信息 通信领域合作进行交流。张云明表示，中国工业和信息化部愿与赤几交通、邮政与通信部围绕《中非数 字合作发展行动计划》开展政策交流，进一步深化数字基础设施、数据中心、云计算、人工智能等领域 合作，推动取得更多务实成果。（工信微报） ...

Core Viewpoint - The development of e-commerce in China is crucial for driving consumption, promoting employment, and facilitating industrial transformation, supported by a fair and transparent ecosystem [1][2]. Group 1: E-commerce Growth and Impact - E-commerce has become a backbone of the domestic consumption market, with online retail sales expected to exceed 15.5 trillion yuan in 2024, reflecting a year-on-year growth of 7.2% [2]. - The rise of new business models, such as live-streaming e-commerce, has created new consumer experiences and significantly boosted the sales of domestic brands and local specialty products [1][2]. - E-commerce platforms are instrumental in connecting urban and rural areas, helping local agricultural products like apples and oranges reach national and international markets, thus enhancing farmers' incomes and contributing to rural revitalization [2]. Group 2: Regulatory and Infrastructure Development - Building a robust e-commerce ecosystem requires precise policies and systematic advancement, including the enhancement of legal frameworks and regulatory measures to keep pace with industry trends [3]. - There is a need to optimize the business environment by reducing hidden barriers and transaction costs, while ensuring fair competition and protecting the rights of various business entities [3]. - Investment in digital infrastructure, such as high-speed internet and smart logistics, is essential for the efficient operation of e-commerce [3]. Group 3: Consumer Protection and Trust - Ensuring consumer rights and data security is paramount, necessitating the establishment of effective consumer protection mechanisms and strict enforcement against counterfeit goods and false advertising [4]. - Promoting a multi-faceted governance structure involving government oversight, platform accountability, industry self-regulation, and social supervision is vital for enhancing the overall credibility and trust in the e-commerce ecosystem [4].