记者丨李果 编辑丨陈洁 如何去衡量一座城市真实的竞争力？除了最常用来比较的GDP、社会消费品零售总额、进出口总额之外，城市之间是否还有更多样 化的比较方法？ 日前，清华大学中国发展规划研究院和德勤中国联合发布了一份报告——《国际交往中心城市指数2025》（下简称《报告》），提 供了比较分析国内城市竞争力的一种方法（将城市竞争力拆分为吸引力、影响力和联通力），而且这份报告站在了全球城市的视野 （样本城市为50座），让城市之间的竞争力比较变得更为立体和多面起来。 从中国城市的排名看，北京和上海排名全球50座城市的第6和第8位，杭州、深圳、广州分列36、37和38位，成都和重庆位居40和47 位。 单独看这一排名，其实和目前城市的GDP排名有差距， 尤其是杭州成为了中国在国际交往方面的"第三城"， 作为无论是领馆数量、 入境游客数量、500强数量和国际城市航班通达量都无明显优势的城市，杭州的这一排名也表明了这份报告的评价维度之不同。 杭州 图/21世纪经济报道 一、杭州有什么优势？ 和全球50座城市相比，杭州有哪些优势？《报告》列举了如下数据： 此外，《报告》也指出，北京、重庆、杭州、成都等城市在2024年的入境外 ...

Core Insights - The economic development new momentum index for China in 2024 is projected to be 136.0, reflecting a 14.2% increase from the previous year, indicating strong growth in new industries, new business formats, and new models [1] Group 1: Economic Vitality - The economic vitality index for 2024 is estimated at 130.9, up 14.5% year-on-year, with 27.37 million new business entities established, averaging 24,000 new enterprises daily [2] - High-tech industry investment is expected to grow by 8.0%, outpacing overall investment growth by 4.8 percentage points, with high-tech manufacturing and services increasing by 7.0% and 10.2% respectively [2] - The express delivery sector is projected to handle 175.1 billion packages, generating revenue of 1.4034 trillion yuan, contributing to new consumption growth and economic circulation [2] Group 2: Innovation-Driven Growth - The innovation-driven index for 2024 is forecasted at 138.5, a 13.2% increase from the previous year, with R&D expenditure reaching 3.6 trillion yuan, up 8.3% [3] - Basic research funding is expected to rise to 249.7 billion yuan, a 10.5% increase, with the number of specialized "little giant" enterprises reaching 14,600 [3] - The number of high-value invention patents per 10,000 people is projected to increase by 2.2 to 14, with technology contract transaction value reaching 6.8354 trillion yuan, up 11.2% [3] Group 3: Network Economy - The network economy index is anticipated to reach 142.4 in 2024, reflecting a 16.2% increase, with mobile internet access traffic expected to hit 3,376 billion GB, an 11.6% growth [4] - The number of 5G base stations is projected to reach 4.25 million, accounting for 33.6% of total mobile base stations, an increase of 4.5 percentage points from the previous year [4] - Online retail sales are expected to reach 15.2 trillion yuan, growing by 7.2%, with physical goods online retail sales increasing by 6.5%, outpacing the growth of total social retail sales by 3.0 percentage points [4] Group 4: Continuous Transformation and Upgrading - The transformation and upgrading index for 2024 is projected at 127.8, a 12.5% increase, with the added value of strategic emerging industries continuing to accelerate [5] - High-tech manufacturing value added is expected to grow by 8.9%, outpacing the growth of overall industrial value added by 3.1 percentage points, with its share rising to 16.3% [5] - Non-fossil energy's share of total energy consumption is expected to increase by 1.8 percentage points, with electric vehicle exports surpassing 2 million units and lithium battery exports exceeding 3.9 billion units, setting a historical high [5]

Core Insights - The financing events for specialized and innovative "little giant" enterprises decreased by 37.2% year-on-year, but the financing amount increased by 18.6% to 34.2 billion yuan [5][8] - The overall trend for IPOs remains expansive, with "little giant" enterprises being the main contributors in the A-share market [5][20] - There was a significant increase in the number of mergers and acquisitions, with a 170% year-on-year growth, although the total transaction amount decreased by 41.9% [6][28] Financing Overview - In the first half of 2025, there were 309 financing events for specialized and innovative "little giant" enterprises, a decrease of 37.2% year-on-year and 15.6% quarter-on-quarter, with disclosed financing amounting to 34.205 billion yuan, an increase of 18.6% year-on-year and 45.0% quarter-on-quarter [5][8] - In Q2 2025, there were 166 financing events, up 16.1% from Q1, but the financing amount in Q2 was 10.519 billion yuan, down 55.6% from Q1 [8] Regional Distribution - The most active regions for financing specialized and innovative "little giant" enterprises in H1 2025 were Guangdong, Beijing, Jiangsu, Shanghai, and Zhejiang, each with over 25 financing events [10] - Guangdong, Beijing, and Jiangsu had financing amounts exceeding 4.5 billion yuan, while Shenzhen and Suzhou had amounts over 1.5 billion yuan [10] Active Institutions - A total of 608 institutions participated in financing events for specialized and innovative "little giant" enterprises, with 90.6% being VC/PE and 9.4% CVC [12] - Jingguorui Fund was the most active, participating in 17 enterprises, followed by Shenchuang Investment, Shunxi Fund, and Yuanhe Holdings, each involved in 8 enterprises [12] IPO Activity - In H1 2025, there were 32 IPOs for specialized and innovative "little giant" enterprises, a year-on-year increase of 18.5% but a quarter-on-quarter decrease of 31.9% [20][23] - Among the 42 new IPOs in the A-share market, 29 were "little giant" enterprises, accounting for 69.05% [23] Mergers and Acquisitions - The number of disclosed mergers and acquisitions involving specialized and innovative "little giant" enterprises reached 54 in H1 2025, a 170% increase year-on-year and a 5.9% increase quarter-on-quarter [6][28] - The total disclosed transaction amount was 8.46 billion yuan, down 41.9% year-on-year and 29.3% quarter-on-quarter [28] Recent Developments - In May 2025, the Ministry of Industry and Information Technology announced initiatives to enhance services for small and medium-sized enterprises, focusing on specialized and innovative "little giant" enterprises [32]

Core Viewpoint - The company Youli Intelligent (920007.BJ) is set to be listed on the Beijing Stock Exchange, focusing on the research, production, and sales of core components for photovoltaic brackets [1][2]. Group 1: Company Overview - Youli Intelligent specializes in photovoltaic bracket core components, including torque tubes (TTU), bearing assemblies (BHA), installation structural components (URA), and rails (RAIL) [3]. - The company's main business revenue primarily comes from the sales of photovoltaic bracket components, with sales revenue proportions of 99.64%, 99.73%, and 99.84% for the years 2022 to 2024 respectively [3]. - Youli Intelligent was recognized as a "High-tech Enterprise" in 2023 and received the "Specialized and Innovative 'Little Giant'" title in the same year, holding 61 patent authorizations [3]. Group 2: Financial and Market Position - The company plans to raise funds for the construction of a core component production base for photovoltaic brackets (1.51 billion), a research and development center (0.20 billion), and smart transformation and expansion projects (0.29 billion), along with supplementing working capital (0.70 billion) [2]. - The company has established strong relationships with major clients in the photovoltaic bracket sector, including Nextracker, which has been the global leader in tracking bracket shipments for nine consecutive years [4]. - The actual controllers of the company, Li Tao, Li Kailin, and Zhu Hong, collectively hold 81.49% of the voting rights, indicating a high level of control over the company's operations and decision-making [5].

Core Viewpoint - Shanghai's foreign trade has shown resilience in the face of complex external challenges, achieving a historical high in scale and a significant upward trend [1]. Group 1: Trade Performance - In the first half of the year, Shanghai's total foreign trade reached 2.15 trillion yuan, a year-on-year increase of 2.4%. Exports amounted to 952.7 billion yuan, growing by 11.1%, while imports were 1.2 trillion yuan, down 3.6% [3]. - Shanghai has achieved positive growth for five consecutive months since February, with exports maintaining growth for nine months and imports for three months. The second quarter saw a record high in trade volume at 1.14 trillion yuan, with a growth rate of 7.2%, the highest in nearly eight quarters [2][3]. Group 2: Private Enterprises - Private enterprises in Shanghai have shown significant growth, with imports and exports reaching 818.3 billion yuan in the first half of the year, a 23.6% increase, surpassing the overall city's growth rate by 21.2 percentage points. This sector has maintained double-digit growth for six consecutive months [5]. - The number of private enterprises with import and export records reached 41,000, a 7.6% increase from the previous year. Specialized "little giant" enterprises have also outperformed the overall growth rate, with a 7% increase in exports [6]. Group 3: High-tech Products - High-tech product exports reached 239.6 billion yuan in the first half of the year, accounting for 25.2% of total exports. Notable growth was seen in liquefied natural gas transport vessels (42% increase) and surgical robots (3.9 times increase) [8]. - The export of intermediate goods supported Shanghai's export growth, with a total of 527.4 billion yuan in intermediate goods exported, a 20.5% increase, contributing 10.5 percentage points to overall export growth [9]. Group 4: Market Diversification - Shanghai's exports to non-US markets grew by 16.1%, compensating for a decline in exports to the US. The increase amounted to 117.0 billion yuan, effectively offsetting a decrease of 21.4 billion yuan in exports to the US [12]. - Exports to countries involved in the Belt and Road Initiative reached 887.3 billion yuan, an 11.8% increase, with significant growth also seen in exports to ASEAN and BRICS countries [13]. Group 5: Import Trends - Although overall imports in Shanghai saw a slight decline, monthly imports have been increasing since April, indicating positive trends in both production and consumption [15]. - In June, imports of industrial raw materials such as iron ore and plastics increased significantly, while imports of consumer goods also showed growth, particularly in dairy products and fruits [15]. Group 6: Port Performance - Shanghai's port accounts for nearly one-fourth of the national total in import and export value, maintaining its position as the largest port in China for 11 consecutive years [16]. - The port's capabilities include handling a significant volume of vehicles and various consumer goods, with copper and plastics making up substantial portions of national imports [16].

Group 1 - The Ministry of Industry and Information Technology has announced a new round of support for specialized and innovative small and medium-sized enterprises (SMEs), with 1,241 companies listed nationwide, primarily from Jiangsu, Guangdong, and Zhejiang [1] - Since the initiation of the cultivation work in 2019, over 140,000 provincial specialized and innovative SMEs and 14,600 "little giant" enterprises have been nurtured, playing a crucial role in addressing industrial shortcomings and enhancing supply chain resilience [1] - "Little giant" enterprises face various challenges during their growth stages, including funding difficulties, especially in the initial phase where they require significant R&D investment and market expansion efforts [1] Group 2 - Financing leasing has emerged as a vital financial link for "little giant" enterprises, providing customized solutions that align with their asset-light and high-growth characteristics, thus facilitating their scale-up [2] - From 2024 to June 30, 2025, 1,320 "little giant" enterprises across 27 provinces engaged in financing leasing, with a total contract amount of approximately 74.33 billion [2][3] - The majority of "little giant" enterprises participating in financing leasing are in the manufacturing and scientific research sectors, with private enterprises dominating the landscape, accounting for 87% of the total [3] Group 3 - Personalized and customized financing leasing services are essential for "little giant" enterprises, allowing financial leasing companies to adapt to the specific needs of these businesses at different growth stages [4] - Successful case studies illustrate how tailored financing leasing solutions have significantly improved production capacity and operational efficiency for "little giant" enterprises [5] - The integration of financing leasing with "little giant" enterprises fosters a symbiotic relationship, enhancing both financial services and industrial innovation [5] Group 4 - The development of a healthy ecosystem for "little giant" enterprises is supported by active market participation and robust policy initiatives, including a recent policy aimed at enhancing financial support for high-tech enterprises [6] - Despite the progress made, challenges remain, particularly regarding the specialized nature of equipment used by "little giant" enterprises, which complicates asset disposal and increases risk for financing leasing companies [7] - Regional disparities in financing leasing services highlight the need for improved coverage and service innovation, especially in underrepresented areas, to support the growth of "little giant" enterprises [7]

Group 1: Company Overview - ZhiXiang Future, established over two years ago, has quickly become a leader in the global multimodal generative AI innovation sector, boasting a market scale of 10 million global individual users and 40,000 enterprise users [1] - The company successfully completed a Series A financing round of several hundred million RMB, led by Hefei Industrial Investment Group, which included participation from multiple institutions [1][3] - The founder, Mei Tao, likened the AI startup journey to "crossing a no-man's land," highlighting the newness of both technology and market [1] Group 2: Industry Development in Anhui - Anhui province is focusing on developing advanced manufacturing clusters and aims to cultivate a number of unicorn companies valued over $1 billion, while also supporting specialized "little giant" enterprises [3][4] - As of October last year, Anhui's emerging industry guidance fund system had established 124 mother and subsidiary funds with a total paid-in scale of nearly 50 billion RMB, investing in over 400 projects [3] - The province has created a "fund jungle" to provide a comprehensive financial ecosystem for technology-based enterprises throughout their lifecycle [4] Group 3: Innovation and R&D - Wuhu city, where companies like KooWa Technology are located, has seen significant government support for the robotics industry, leading to a clear development path and beneficial policies for enterprises [6][8] - Wuhu's R&D investment accounted for 4.28% of its GDP last year, significantly higher than the national average of 2.68%, with over 90% of this investment coming from enterprises [8] - The aviation industry park in Wanzhi District has attracted nearly 200 companies across the entire industry chain, achieving a local supply rate of 100% for core components of general aviation aircraft [9][11]

Group 1 - The core viewpoint is that Hunan Province has recognized 1,323 new enterprises as provincial-level specialized, refined, distinctive, and innovative small and medium-sized enterprises (SMEs), bringing the total to 6,304 provincial-level SMEs and 543 national-level "little giant" enterprises as of May 27 [1][2] - Continuous and stable policies have solidified the foundation for the development of "little giant" enterprises, with Hunan issuing multiple documents such as the "Hunan Province Specialized, Refined, Distinctive, and Innovative 'Little Giant' Enterprise Cultivation Plan (2021-2025)" [1] - Hunan's specialized industrial clusters provide synergy for the development of "little giant" enterprises, guiding their business focus and enhancing competitive advantages through collaboration with leading enterprises [2] Group 2 - The innovation vitality of "little giant" enterprises is crucial for their survival and overcoming technological barriers, exemplified by the case of Zhuzhou Huari Precision Tools Co., Ltd. which established an integrated innovation system with local universities [2] - With the deepening development of pillar industries such as advanced materials and advanced equipment manufacturing, Hunan is expected to cultivate more world-class "little giant" enterprises in high-end equipment and new materials [3]

Core Insights - The number of specialized and innovative "little giant" enterprises in China exceeds 14,000, with Jiangsu, Guangdong, and Zhejiang leading in quantity [3][5][25] - Financing events and amounts for these enterprises have significantly decreased, with a 55% drop in events and a 48.1% decline in disclosed financing amounts in Q1 2025 compared to the previous year [9][12] - The number of IPOs for these enterprises has increased, with 19 IPOs in Q1 2025, marking a 26.7% year-on-year growth [24][25] Group 1: Development Overview - As of March 31, 2025, there are 14,687 specialized and innovative "little giant" enterprises in China, with Jiangsu having 2,160, Guangdong 1,985, and Zhejiang 1,804 [5][25] - The top five cities with the highest number of these enterprises are Beijing, Shenzhen, Shanghai, Suzhou, and Hangzhou [5] Group 2: Financing Overview - In Q1 2025, there were 136 financing events for specialized and innovative "little giant" enterprises, a decrease of 55% year-on-year, with disclosed financing amounting to 9.85 billion RMB, down 48.1% [9][12] - Jiangsu, Beijing, Guangdong, Shanghai, and Zhejiang are the leading regions in financing activity, with Shanghai having the highest financing amount exceeding 9 billion RMB [12] Group 3: IPO Insights - The number of IPOs for specialized and innovative "little giant" enterprises in Q1 2025 was 19, reflecting a 26.7% increase year-on-year [24] - Among the 27 new IPOs in A-shares, 18 were specialized and innovative "little giant" enterprises, accounting for 66.7% [25] Group 4: M&A Activity - In Q1 2025, there were 29 disclosed M&A events involving specialized and innovative "little giant" enterprises, a significant increase of 262.5% year-on-year, with a total disclosed transaction amount of 5.16 billion RMB, up 26.8% [34] Group 5: Recent Developments - In March 2025, the Ministry of Industry and Information Technology and 15 other departments issued guidelines to enhance compliance awareness and management among small and medium-sized enterprises, including specialized and innovative "little giant" enterprises [39]

Group 1 - The core viewpoint of the articles highlights the significant development of innovative small and medium-sized enterprises (SMEs) in Sichuan Province, particularly in Chengdu, where 923 out of 1276 listed companies are located, indicating a strong focus on innovation and specialization in the region [1] - The list of innovative SMEs is valid until April 2028, and these companies are categorized into three levels: innovative SMEs, specialized and innovative SMEs, and specialized "little giant" enterprises, each with distinct characteristics and contributions to the economy [1] - Chengdu has successfully cultivated 354 national-level specialized "little giant" enterprises, ranking seventh among cities nationwide and fourth among sub-provincial cities, demonstrating the effectiveness of its specialized and innovative enterprise development strategy [2] Group 2 - The provincial government has established a gradient cultivation system for SMEs, with over 3100 provincial-level specialized and innovative SMEs accounting for more than 60% of the total in Sichuan, indicating a robust support framework for these enterprises [2] - The innovative SMEs are recognized for their high specialization, strong innovation capabilities, and growth potential, serving as the foundational strength of quality SMEs in the region [1] - Specialized and innovative SMEs are noted for their professional, refined, and distinctive development, contributing significantly to the quality and efficiency of the local economy [1]