活动没有停留在泛泛而谈，而是紧紧围绕"职责虚化、担当软化、能力弱化、作风浮化"四个重点，按 照"对照查摆、专题讨论、整改提升"三个步骤，设置了具体而深刻的检视维度。 把问题清单 变为履职清单 "过去总觉得按部就班完成任务就行，通过对照检查才发现，自己在主动谋划、创新突破上确实存在差 距。"孤东采油管理三区综合管理室经理孙芳在专题讨论会后深有感触。这场大讨论，首先是一场思想 的"大扫除"。 以能力提升 保障发展高质量 面对高质量发展的新要求，能力短板如何补齐？作风顽疾如何根治？大讨论活动给出了明确路径——在 干中学、在事上练。 为更好指导和服务基层、抓好机关干部作风建设，孤东采油厂以坚持学习先一步、业务强一手等为内容 的"八个一"基本素养为标准，强化对标提升，切实解决工作粗放、管理松懈、执行不到位等突出问题， 以精细管理和严谨细致务实作风树立干部良好形象。 为精准查找职责虚化问题，推进大讨论活动走深走实，采油管理四区聚焦开发提效、生产保障、安全环 保、党建经营四大领域，创新推出"问卷调研+双向互评"特色举措，面向干部员工精准设计调研问卷， 全面征集各岗位在履职实践中的痛点难点。 采油管理三区则主动求变，紧扣生产 ...

Group 1 - The "2025 Financial Conference" focused on the theme of "New Starting Point, New Momentum, New Journey," gathering over 100 experts and 500 financial institutions to discuss macroeconomics, capital markets, and technological trends [1][3] - Zhang Bin, Chairman of Financial界 Group, emphasized that 2026 will be a pivotal year for China's economy, marking a transition from low inflation to a new equilibrium [1] - The conference highlighted the importance of the "14th Five-Year Plan" in achieving a 5% economic growth target, with China's economy expected to exceed 140 trillion RMB by 2025 [6] Group 2 - Liang Tao, former Vice Chairman of the China Banking and Insurance Regulatory Commission, stated that the insurance industry should play a role as "patient capital" by supporting technology enterprises through specialized investment funds [8] - Chen Wenling identified seven international risks that need to be monitored, including economic bubbles, geopolitical tensions, and public health events [11] - The conference discussed the need for a modern industrial system to strengthen the real economy, with insights from various industry representatives on promoting high-quality development [12] Group 3 - Experts like Zhang Jingjing believe that the "15th Five-Year Plan" will usher in a golden era for China's economy and capital markets, with foreign investment expected to increase [27] - The banking sector is seen as crucial for financing efficiency and market resilience, with discussions on how financial institutions can adapt to support economic growth [20][28] - Jiang Xiaojun emphasized the need for the financial industry to accelerate its market-oriented, digital, and international transformation to seize opportunities in technological innovation [30]

世界期待的，不是强者独霸的"零和叙事"，而是利益交融、成本共担、收益共享的"合作叙事"。2026 年，世界可以继续期待中国为全球经济注入新的确定性。作为世界经济增长的主引擎，中国将继续深化 改革，扩大开放。随着关税调整和市场准入的进一步放宽，我们将以高质量发展的确定性和稳定性对冲 外部环境的不确定性。近九成国外受访民众对未来10年中国经济持续增长充满信心，这份信任，我们将 用实打实的发展成果来回报。 以DeepSeek为代表的国产大语言模型横空出世，不仅颠覆了"美国在AI领域占据主导"的固有认知，开源 模型更被誉为"给世界的深刻礼物"。从"技术追赶"到"模式创新"，中国向世界递出"创新共同体"的邀请 函。同样动人的，还有蓬勃的民间活力。"China Travel"2025年火遍全球，"周五下班去中国"成为新梗， 穿着"格格装"的"老外"成了故宫常客。有英国媒体称，每一个入境游客都在打破对华刻板印象。当人 流、物流、信息流、文化流跨越山海自由涌动，一个真实、立体、全面的中国，鲜活地呈现在世界眼 前。 被外界称为"前瞻型国家"的中国通过系统性规划，锚定发展方向，汇聚起举国同心的磅礴伟力。党的二 十届四中全会胜利召 ...

新华社北京12月30日电 题：奋力实现"十五五"良好开局——中国经济圆桌会共话贯彻落实中央经济工 作会议精神 中央经济工作会议12月10日至11日在北京举行。这是在"十四五"即将圆满收官、"十五五"即将开启的重 要历史节点上党中央召开的一次十分重要的会议。 怎样看待今年和"十四五"时期我国经济社会发展取得的重大成就？会议释放出做好明年经济工作哪些重 要信号？如何贯彻落实好会议决策部署，确保"十五五"开好局起好步？ 新华社12月30日推出第二十七期"中国经济圆桌会"大型全媒体访谈节目，邀请国务院研究室社会司司长 刘日红，中国财政科学研究院院长杨志勇，国家发展改革委宏观经济研究院研究员刘志成，中国民间商 会副会长、依文集团董事长夏华，共话贯彻落实中央经济工作会议精神，奋力实现"十五五"良好开局。 深刻认识发展成就准确理解规律性认识 2025年是很不平凡的一年。以习近平同志为核心的党中央团结带领全党全国各族人民迎难而上、奋力拼 搏，坚定不移贯彻新发展理念、推动高质量发展，统筹国内国际两个大局，实施更加积极有为的宏观政 策，经济社会发展主要目标将顺利完成。 "把今年和过去5年联系起来看，我国经济总量连续跨越110万亿 ...

Group 1 - The report indicates that in December, the yield rates of most bond varieties declined, with all interest rate bonds experiencing a decrease in yield rates, while credit bond spreads widened for most varieties [3][10][19] - The U.S. economy is showing signs of a slowdown, with the CPI inflation remaining moderate, and both European and Japanese inflation stabilizing [3][39][43] - Domestic economic growth continued to slow down in November, with a year-on-year GDP growth rate of approximately 4.1%, a decrease of 0.2 percentage points from October [3][49][53] Group 2 - The monetary policy review for the fourth quarter removed references to "low price levels" and emphasized ongoing challenges in the economy, such as the imbalance between supply and demand [3][103] - The report highlights that the current bond market is likely to experience greater volatility, suggesting a focus on long-term bond trading strategies [3][34][135] - The report notes that the "fixed income plus" strategy involves a combination of fixed income assets with other risk assets to enhance returns, with a focus on maintaining a balance between risk and return [105][106][120] Group 3 - The report provides insights into the performance of "fixed income plus" funds, indicating a significant increase in the allocation to equity assets, with stock allocation reaching 10.3% by the end of Q3 2025 [3][129] - The total scale of "fixed income plus" funds reached 27,826 billion, with an average fund size of 2 billion [125][126] - The report emphasizes that the performance of "fixed income plus" funds tends to be better during bull markets in the A-share market, with historical returns showing significant variability [114][118]

Core Insights - The Heilongjiang Free Trade Zone has achieved significant advancements in foreign trade and investment, contributing nearly 25% of the province's total import and export volume and 20% of actual foreign investment with only 0.03% of the province's area [1] - The region has introduced 38 new provincial-level institutional innovation practices and established approximately 45,000 new enterprises, transitioning from a "testing ground" for institutional innovation to a "growth pole" for high-quality development [1] Group 1: Institutional Innovation - The Harbin area has pioneered the "no-sense renewal certificate" reform, reducing the land supply process for industrial projects to 40 days [1] - The Heihe area has provided each technology innovation enterprise with a "Technology Innovation Policy Compilation Manual" and established a "one-stop" policy implementation mechanism, disbursing a total of 15.93 million yuan in rewards [1] - Suifenhe has innovated a "cross-border e-commerce service steward" model, offering one-stop exclusive services [1] Group 2: Industrial Dynamics - The Harbin area has 1,323 high-tech enterprises, with the output of strategic emerging industries growing by over 30% annually, indicating a shift towards intelligent manufacturing [2] - The booming cross-border e-commerce sector has significantly enhanced trade dynamics, with the "dual sourcing and dual selling" model in Suifenhe achieving a record e-commerce trade volume of 3 billion yuan from January to October this year [2] Group 3: Open Cooperation - The establishment of "air silk roads" has facilitated the continuous export of electronic products and precision components from Heilongjiang to overseas markets, while also allowing high-quality global goods to enter China [2] - The integrated cross-border logistics system involving air, rail, and road transport has expanded trade channels, with the Suifenhe road port handling 1.403 million tons of cargo this year, reflecting a year-on-year increase of 15.4% [2]

Core Viewpoint - The company emphasizes a development strategy focused on "improving existing operations and transforming new growth" while adhering to a stable and progressive work approach, aiming to enhance long-term investment value for shareholders [1] Group 1: Development Strategy - The company will follow the "existing stock efficiency and new growth transformation" strategy [1] - The company aims to strengthen safety and efficient management in operations [1] - The company is committed to building a comprehensive energy supply system that integrates "coal, coal power, and new energy" [1] Group 2: Operational Focus - The company intends to improve operational management levels and enhance risk management capabilities [1] - The company is focused on high-quality development to increase long-term investment value [1] - The company aims to reward investors through its strategic initiatives [1]

新华社北京12月30日电（记者黄垚）中国民间商会副会长、依文集团董事长夏华在新华社30日推出 的"中国经济圆桌会"大型全媒体访谈节目中表示，中央经济工作会议明确明年将实施更加积极有为的宏 观政策，为企业注入了"稳定剂"，让民营企业更加坚定信心，敢于长期投资。 夏华说，会议强调"坚持创新驱动""因地制宜发展新质生产力"，指明了提升"质"与"效"的路径，引 导企业通过数字化、智能化实现升级，把科技创新作为核心竞争力，坚持走高质量发展之路。 她以自身企业为例介绍说，依文集团打造的数智产业互联网平台连接全球设计师与国内优质供应 链，推动传统制造业向"智造"转变。 "值得关注的是，会议明确深入整治'内卷式'竞争，切中了当前市场痛点。"夏华说，无序的低价内 耗挤占企业用于创新和提升品质的宝贵资源。政策引导将推动市场从"价格战"转向良性的"价值竞争"， 让企业从"卷价格"变成"卷品质""卷创新"，为坚守长期主义的企业创造公平健康的发展环境。 夏华表示，促进民营经济高质量发展的政策力度在不断加大，将为企业提供更强的支撑和保 障。"我们将在扩大内需、提振消费等政策引领下，继续深耕国潮文化、打造沉浸式消费新场景，用对 产品与文化 ...

Core Insights - The 22nd China Fund Industry Golden Bull Award has been announced, highlighting the performance of Penghua Fund's equity and bond products, which have excelled in long-term performance and customer satisfaction [1] Group 1: Fund Performance - Penghua Youxuan Value Fund, managed by Wu Xuan, received the "Five-Year Open-End Stock Type Continuous Excellence Golden Bull Fund" award, achieving a net value growth rate of 58.05% over the past five years, ranking 26 out of 238 in its category [2] - Penghua Fenglu Bond Fund, managed by Liu Tao, won the "Seven-Year Open-End Bond Type Continuous Excellence Golden Bull Fund" award, with a net value growth rate of 43.16% over the past seven years, ranking 1 out of 277 in its category [3] Group 2: Investment Strategy - Wu Xuan emphasizes deep value investing, focusing on fundamentals and valuation while maintaining a low turnover rate, aligning with the high-quality development phase's requirements for patience and determination [2] - Liu Tao has provided consistent and stable returns through precise credit analysis and rigorous risk control over the past seven years [3] Group 3: Industry Trends - The Golden Bull Award's evaluation mechanism is increasingly oriented towards long-term performance, encouraging fund managers to focus on sustainable returns, which aligns with the core directive of "investor-centric" in the action plan for promoting high-quality development of public funds [4] - The regulatory push for long-term assessments and performance benchmarks complements the Golden Bull Award's long-term evaluation system, facilitating the industry's shift from "scale" to "return" [4] Group 4: Company Strategy - Penghua Fund has established a platform-based, professional team research system, aiming to create a "comprehensive fundamental investment community" [4] - The company employs group and category management for fund managers to maintain style stability, alongside long-term assessments and co-investment mechanisms to align team interests with client interests [4] - The recognition of Penghua Fund as a "dual Golden Bull" reflects its accumulated platform-based and systematic research capabilities, as well as its commitment to long-termism [4]

Core Viewpoint - The Chinese automotive industry is entering a new development stage, emphasizing "high-quality development" over speed and scale, with a focus on efficiency, order, and long-term capability building [1][2] Group 1: Industry Trends - The term "anti-involution" has become a key focus in industry policy and regulation, shifting the automotive industry's understanding of development [1] - The ongoing price war and competitive tactics that breach reasonable boundaries highlight the need for companies to self-regulate and maintain manufacturing standards [1] Group 2: Company Positioning - Great Wall Motors has taken a proactive stance in addressing market disruptions, particularly regarding "zero-kilometer used cars," emphasizing the potential impact on industry credit and manufacturing foundations [1] - The company's chairman, Wei Jianjun, has publicly called for maintaining industry standards, aligning with national efforts to curb disorderly competition and promote high-quality development [1] Group 3: Product and Technology Focus - Great Wall Motors is committed to delivering technology to users, integrating VLA large model capabilities with Hi4 hybrid systems to enhance product experience in real-world scenarios [2] - The company’s approach emphasizes engineering-driven technology advancements, resulting in positive market feedback and improved sales and reputation [2] Group 4: Globalization Strategy - Unlike previous strategies that relied on export scale, Great Wall Motors is focusing on establishing local manufacturing capabilities and supply chain collaboration in overseas markets [2] - This shift from "selling overseas" to "rooting locally" aims to enhance stability and sustainability in its global operations [2] Group 5: Recognition - Great Wall Motors has been recognized in the "2025 Automotive Industry Influence Yearbook" as a representative company exemplifying high-quality development paths [2]