在听取江北新区党工委、浦口区委工作汇报后，周红波指出，推动江北新区与浦口区一体化融合发 展，是省委省政府、市委市政府立足区域协调发展大局作出的战略决策，也是江北新区、浦口区迈上发 展新台阶的重大机遇。江北新区、浦口区要坚定信心、敢闯敢试，持续深化一体化融合发展各项工作， 进一步创新机制、优化流程、整合资源、激发活力，实现新区体制优势、平台优势和浦口空间优势、资 源优势的充分叠加，促进物理整合产生化学反应，不断激发高质量发展新动能，努力争当南京新一轮发 展增长极。市有关方面要全力支持两区大胆改革、大胆探索。 周红波强调，今年是"十五五"开局之年，要抓紧抓实各项重点工作，扛起更大担当、彰显更大作 为。要加快打造现代化产业体系，巩固优势、放大特色、布局前沿，全力培育链主企业，前瞻布局未来 产业新赛道，统筹优化产业空间布局，因地制宜推动产业规模不断壮大、产业层次向高向新。要加快构 建一流创新生态，打造高能级创新平台，构建高效率的技术成果转化通道，营造高品质的人才环境，在 全市建设青年发展型城市中抢先发力、争当示范。要加快塑造双向开放优势，大力推进南京都市圈货运 枢纽经济区建设和江海联运枢纽港转型，深入实施自贸试验区提 ...

市委经济工作会议准确把握"稳中求进、提质增效"政策取向，谋划部署明年目标任务，必将引领全市上 下奋力开创高质量跨越式发展新局面。开化将一体贯彻中央和省委、市委决策部署，聚焦省委"132"总 体工作部署和市委"10+2"重点工作，紧扣"八个开新局谱新篇"关键重点，昂扬"小县大战略、小县大跨 越、小县大创新"雄心壮志，坚持生态立县、产业强县、开放兴县，奋力打造现代化国家公园城市，确 保"十五五"开好局、起好步。 聚力"五链"融合，塑造发展新优势。围绕"618"现代产业体系，提速科创智谷等创新引擎建设，因地制 宜壮大"一座山、一滴水、一片叶、一张牌、一片硅"等特色产业，着力培育百亿产业集群。突出"小而 特、小而精、小而美"，加快建设卡游动漫小镇、飞行小镇等"十大平台"，重点打造低空经济、水产 业、电商共富等专精特新产业园，力争明年规上工业总产值增长10%以上。 聚力项目攻坚，筑牢发展新支撑。坚持投资于物和投资于人紧密结合，常态开展"专题+专场"项目谋 划，滚动储备政策性项目150个以上，争取明年再获政策性资金30亿元以上。紧盯"五个头部"，深入实 施百亿基金计划，深化链主招商、零地招商等模式，确保明年新招引亿元以上 ...

2025年12月18日，海南自由贸易港正式启动全岛封关运作。"风从海上来"，这片3.39万平方公里的土 地，将缔造怎样的发展未来，如何创造机遇、释放红利，全国乃至全球都高度关注。 海南全岛封关，是中国在新时代推进高水平对外开放的标志性事件。当前，全球经济格局深刻调整，中 国需要通过更高水平的开放实践，对接国际高标准经贸规则。这个意义上，封关后的海南将成为一 个"压力测试场"。同时，海南既是国际企业进入中国内地市场的"桥头堡"，布局东南亚、大洋洲市场 的"战略支点"，也是中国"走出去"参与全球竞争的"跳板"。这种"双向开放"格局，将推动海南成为全球 优质要素集聚的新高地，成为中国与世界共享发展机遇的新平台。 同为自由贸易港，海南不是要再造一个香港，也不是复制一个新加坡，而是与其互补共生。海南自贸港 的定位是"中国特色自由贸易港"，蕴含其中的制度创新优势和差异化定位，将为中国经济和全球发展提 供新机遇，具体可体现为三个维度—— 拉长时间和空间的坐标轴，海南封关的影响更远超区域范畴，将成为中国参与全球竞争、推动经济全球 化的重要力量。未来，随着政策的持续优化和制度的不断完善，这里将打开更大想象空间。 （作者单位：中 ...

江山如画丨嵌入全球产业链，常州以"双向奔赴"拓展开放新空间 中新网常州12月8日电(记者 谢艺观)在沙特阿拉伯的广袤戈壁与巴西的连绵群山中，两项能源领域超级 工程正全速推进，背后都有着中国企业的身影。 当前，逆全球化思潮泛起、全球产业链加速重构。扩大高水平对外开放，不仅关乎城市竞争力与产业韧 性，更深刻影响着其参与全球分工的广度与深度。 作为制造业强市，常州"引进来"与"走出去"双向发力，探索出一条深度融入全球产业链的嵌入式开放之 路。 全球布局，从产品向标准输出跃升 近年来，随着共建"一带一路"倡议不断深化，中国企业带着产品、技术与方案，在全球舞台上崭露头 角。 2019年，常州博瑞电力自动化设备有限公司带着中国特高压技术走出国门，参与建设巴西美丽山 ±800kV特高压直流输电工程；2024年，企业再次承建巴西伊泰普水电站±600kV高压直流改造项目，实 现了从海外新建工程到高端改造市场的跨越。 如今，博瑞电力正在执行的沙特SEC三期储能项目(容量2.5吉瓦)是世界容量最大的在建储能项目之一， 将为全球能源转型注入中国动力。 "我们推向全球70多个国家和地区的，不只是单纯的电力装备，更是一套完整的中国能源解 ...

坚持开放合作、互利共赢是中国式现代化的必然要求。 当前，世界百年变局加速演进，国际形势变乱交织，全球经济增长乏力，世界正站在新的十字路口，何 去何从将深刻影响世界未来。 习近平总书记指出："中国始终坚持对外开放的基本国策，以实际行动推动建设开放型世界经济。""中 国对外开放的大门不会关闭，只会越开越大。" "十五五"规划建议提出："稳步扩大制度型开放，维护多边贸易体制，拓展国际循环，以开放促改革促 发展，与世界各国共享机遇、共同发展。" "十五五"时期，我国具备主动运筹国际空间、塑造外部环境的诸多有利因素，要抓住机遇以开放促改革 促发展，在激烈国际竞争中赢得战略主动。 积极扩大自主开放 细读"十五五"规划建议，自主开放是关键词之一。 吉尔吉斯斯坦的蜂蜜、尼日利亚的民族服饰、斯里兰卡的锡兰红茶……上个月举办的中国国际进口博览 会上，"全球南方"成为活跃的贸易增量。 扩大单边开放领域和区域，高标准建设海南自由贸易港，高质量共建"一带一路"……从中我们看到了中 国高水平开放独立自主、自信自立的内在特征。 "自主性已成为新时代开放的鲜明特征。这是我国顺应时代发展需要、结合中国实际做出的战略选 择。"商务部国际贸易经济 ...

Core Insights - The report from the China Listed Companies Association provides a clear snapshot of economic transformation as of October 2025, highlighting significant changes in market structure, including a rewriting of industry landscapes, a re-ranking of company valuations, and an acceleration of cross-border listings [1] Group 1: Rise of Manufacturing and Technology - The capital market's structural change is first reflected in the shift towards manufacturing and technology sectors, with 71 new manufacturing companies listed in the first ten months of the year, while the real estate and financial sectors saw a net decrease in company numbers [2] - As of October, the total market capitalization of the electrical, electronic, and communication sectors reached 24.29 trillion yuan, surpassing the financial sector for four consecutive months, indicating a shift in capital market value from traditional heavy asset industries to high-end manufacturing and technological innovation [2] Group 2: Market Differentiation and Resource Allocation Efficiency - The market capitalization structure is undergoing a new round of reorganization, with one new company exceeding a market cap of 1 trillion yuan and 36 companies exceeding 100 billion yuan, while companies with market caps below 2 billion yuan decreased by 419 [3] - The median market capitalization across the market increased to 6.497 billion yuan compared to September, reflecting accelerated market selection and a more active capital flow towards leading and innovative enterprises [3] Group 3: Deepening Capital Market Openness - The internationalization of the capital market is accelerating, with 14 new A+H share companies and over 80 domestic companies listing overseas by the end of October, marking a significant trend in companies seeking financing abroad [4] - This shift not only expands financing channels but also enhances governance standards, international competitiveness, and global resource allocation capabilities, as companies face stricter international regulations and competition [4] - The ongoing optimization of capital market structure is expected to continue driving high-quality economic development, with a reorganization of industry growth momentum reshaping capital flows and enhancing overall market efficiency [4]

Group 1 - The report highlights a significant transformation in the supply structure of the primary market for offshore bonds, with a notable shift from traditional city investment bonds to industry bonds, government bonds, and TMT bonds as the new mainstays [3][10] - The offshore bond market has seen a continuous expansion, with a total issuance of 1.24 trillion yuan in the first ten months of 2025, although net financing from city investment bonds has sharply declined to only 422 million yuan [3][10] - The secondary market has experienced a decline in yields, with the 3-year offshore bond yield dropping approximately 40 basis points, outperforming domestic bonds [3][17] Group 2 - The report anticipates that the offshore bond market will continue to thrive in 2026, driven by two major changes: narrowing interest rate spreads and a shift in supply dynamics, necessitating more refined selection criteria for bonds [3][4] - The narrowing of the offshore-onshore interest rate spread has reached historical lows, with sovereign bonds at 10-25 basis points and credit bonds at 40-65 basis points, making it challenging to find excess returns [3][4] - The report emphasizes the need to explore investment opportunities in foreign government bonds and Hong Kong government bonds due to limited yield spread in domestic government bonds [3][48] Group 3 - The macroeconomic environment is favorable for Chinese dollar bonds, with expectations of 2-3 interest rate cuts by the Federal Reserve in 2026, targeting a rate of 2.75-3.00% [5][6] - The report suggests focusing on investment-grade dollar bonds and short-term securities to capture certainty in returns, as the credit risk has eased but remains present [5][6] - The investment strategy for 2026 includes a focus on high-grade offshore bonds, with an emphasis on long-duration bonds for insurance companies and high-grade foreign financial bonds for public funds [5][6] Group 4 - The report outlines the expansion of the "Southbound Bond Connect" program, which has significantly enhanced market liquidity and investor participation [29][33] - The trading volume of RMB debt instruments has reached 2.13 trillion yuan by October 2025, accounting for over 90% of the total volume in 2024, indicating a robust market activity [29][33] - The report notes that the expansion of the "Southbound Bond Connect" has opened new channels for domestic investors to diversify their asset allocation [29][33]

Core Insights - The article highlights the transformation of foreign investment in Jiangsu, China, from single-point investments to industrial clusters, emphasizing the shift from "foreign R&D, Chinese manufacturing" to "Chinese R&D, global sales" [1][4]. Group 1: Foreign Investment Trends - Jiangsu has attracted over 560 German enterprises with a cumulative investment exceeding 60 billion USD, with about 70% focusing on the automotive industry [2]. - The province has established 26 international cooperation parks, with manufacturing foreign investment accounting for 375.8 billion USD from 2021 to 2024, representing 36.2% of the total foreign investment in the province [3]. - Jiangsu's actual foreign investment usage accounts for approximately one-sixth of the national total, with 43,000 foreign enterprises currently operating in the region [4]. Group 2: R&D and Headquarters Development - Jiangsu has recognized 423 regional headquarters and functional institutions of multinational companies, with 128 new additions since the 14th Five-Year Plan, ranking among the top in the country [4][5]. - The establishment of R&D centers and regional headquarters signifies a shift from merely manufacturing to innovation and development, with companies like Hawe and Mettler Toledo leading in their respective fields [4][6]. Group 3: Innovation and Global Integration - Foreign enterprises are increasingly redefining their roles in the Chinese market, with companies like Schaeffler and Jabil Electronics establishing R&D and service centers in Jiangsu to cater to global demands [6][7]. - The article emphasizes that Jiangsu is evolving from a "cost haven" for foreign investment to an "innovation hub," with foreign companies becoming "innovation partners" and "global nodes" in the supply chain [7].

Core Viewpoint - The securities industry must align its strengths with national strategies to achieve high-quality development, focusing on core competitiveness and comprehensive strength in the journey towards becoming a first-class investment bank [1][5]. Group 1: Key Strategies for High-Quality Development - Emphasizing high-level technological self-reliance to accelerate the construction of a modern industrial system, promoting a virtuous cycle of "technology-finance-industry" [2]. - Focusing on people-centered approaches to promote common prosperity, utilizing high-quality financial services to address income distribution issues [2]. - Expanding high-level openness to construct a new development pattern, ensuring mutual connectivity and institutional alignment in the financial sector [2]. - Leveraging digital China construction to empower high-quality development, enhancing data management and compliance to support real financing and trading needs [3]. Group 2: Financial Contributions to National Goals - The securities industry must excel in technology finance, having facilitated 58 quality enterprises to raise 45 billion yuan through IPOs this year, and issued 1,645 technology innovation bonds totaling 1.8 trillion yuan [3][4]. - Promoting inclusive finance by designing flexible financial tools for startups and small enterprises, while assisting residents in long-term asset allocation [4]. - Deepening digital finance to contribute to the construction of a financial powerhouse and digital China, emphasizing the need for digital transformation [4]. Group 3: Building a First-Class Investment Bank - Focusing on becoming a "value investment bank" by balancing functionality and profitability, integrating various financial services to enhance value creation [5][6]. - Committing to becoming a "smart investment bank" by advancing digital strategies and incorporating new technologies like AI and blockchain to improve decision-making and risk management [6]. - Aiming to establish a "new quality investment bank" by innovating business models and enhancing competitiveness in the market [6].

Core Points - The Nanjing Jiangbei New Area International Investment Cooperation Conference was held on October 28, 2023, with nearly 500 guests from world-renowned companies and multinational corporations attending [1] - The conference aimed to showcase the open vitality, cooperative sincerity, and future potential of the Jiangbei New Area, emphasizing the theme "Open Cooperation Wins the Future" [1] - Nanjing's economic development was highlighted, showcasing its industrial vitality, abundant open opportunities, and favorable business environment [1] Group 1 - The conference featured a keynote address by Nanjing's Mayor, who emphasized the city's commitment to high-quality development and expanding high-level openness [2] - Ten international investment cooperation projects were signed during the conference, and nine organizations became international cooperation partners for Jiangbei New Area [2] - The event included a "Multinational Companies Jiangbei Tour" to further promote investment opportunities in the region [2] Group 2 - The conference included participation from various dignitaries, including the Consul General of the Dominican Republic in Shanghai, highlighting the importance of international collaboration [2][3] - The event aimed to foster a good innovation ecosystem and industrial ecology, encouraging shared development opportunities among participants [1][2] - The Jiangbei New Area is positioned as a significant growth engine for Nanjing, supported by multiple national strategies [1]