Core Insights - The global economic landscape has significantly changed for many developing countries, facing challenges such as growth slowdown, supply chain disruptions, reduced aid flows, and increased financial market volatility [1][2] - The traditional US-centered global economic and financial order is being fundamentally adjusted, leading to a series of factors that will greatly impact the welfare of developing countries and the fate of multilateral institutions [1][2] Group 1: Factors Affecting Developing Countries - The existing order fails to integrate rapidly expanding developing nations, leading to political and economic disconnection [1][2] - The US has shifted from a stabilizing force to a source of turmoil, exacerbated by events like the 2008 financial crisis and the weaponization of tariffs [2][3] - Despite these challenges, developing countries have managed to navigate the changing landscape relatively well due to significant policy achievements [2][3] Group 2: Policy Priorities for Developing Countries - Maintaining macroeconomic stability while addressing structural and financial vulnerabilities is crucial [2][3] - Strengthening international connections to enhance resilience and flexibility requires years of coordinated efforts [2][3] - Preparing to leverage innovations, particularly in AI, to improve productivity in traditional sectors and enhance human capital investment returns is essential [3][4] Group 3: Role of Multilateral Institutions - Multilateral institutions like the World Bank should play a vital role in helping members adopt new practices and technologies to improve health, education, and productivity outcomes [3][4] - Encouraging regional trade connections and cross-border infrastructure projects is necessary to adapt to frequent global shocks [4][5] - Strengthening emergency financing mechanisms and risk-sharing tools is critical in a world shaped by increasing disruptions [4][5]

Core Viewpoint - The 2025 Mid-term Investment Strategy Conference held by Hualong Securities aimed to gather insights from various experts and industry leaders to discuss new development opportunities amidst changing circumstances [1][5]. Group 1: Conference Overview - The conference featured over 500 attendees and was broadcasted through five live channels, attracting more than 80,000 views [5]. - Hualong Securities' Chairman, Qi Jianbang, emphasized the importance of collaboration and professional empowerment to capture opportunities and build consensus for market stability [5]. Group 2: Expert Insights - Zhang Qingmin analyzed the global political and economic trends, discussing the profound changes in the global landscape and China's modernization achievements [6]. - Ma Guangyuan provided a macroeconomic outlook for the second half of 2025, highlighting the need for China to strengthen internal dynamics through structural reforms and consumption activation [6]. - Liu Shiyan focused on solid-state battery technology, detailing the advantages of dry electrode processes in energy efficiency and cost control [6]. - Pan Zhengze discussed lithium battery technology trends, including the evolution of silicon-carbon anodes and solid-state battery commercialization [7]. Group 3: Investment Strategies - Hualong Securities analysts provided insights into investment strategies across various sectors, including automotive, electric power, computing, and media, assessing transformation trends and growth potential for the second half of the year [7]. - The company plans to maintain its commitment to compliance, integrity, professionalism, and win-win cooperation while continuing to enhance its research capabilities [7].