Core Viewpoint - Beijing is accelerating the construction of an international science and technology innovation center, which is a significant strategic task assigned by the central government, with notable achievements in innovation-driven development during the 14th Five-Year Plan period [1] Group 1: Innovation Capability Enhancement - Major scientific infrastructure is crucial for advancing basic research and original innovation, with four out of six large facilities in the Huairou Science Center already completed and open to global access [2] - Beijing has maintained a research and development investment intensity of over 6% for six consecutive years, ranking among the top global innovative cities [3] - The city has established a robust policy framework to support the transformation of scientific achievements and intellectual property protection, contributing to its rising original innovation capabilities [3] Group 2: New Quality Productivity - Beijing is promoting the transformation of scientific achievements, exemplified by the air delivery of an autonomous delivery vehicle to Dubai [4] - The city has established a significant number of intelligent connected vehicle enterprises, with over 120 companies in the Beijing Economic-Technological Development Area [4] - Beijing is focusing on key areas such as artificial intelligence, digital economy, and new energy vehicles to accelerate technological breakthroughs and the transformation of results [4] Group 3: Future Industry Development - The city is enhancing the integration of advanced manufacturing and modern service industries, with several demonstration parks and enterprises established to promote a full industrial chain development model [6] - Beijing is actively fostering new industries, new models, and new driving forces through technological innovation, with significant achievements in element aggregation and technological breakthroughs [6] Group 4: Innovation Ecosystem Improvement - Beijing is continuously optimizing its innovation ecosystem, integrating technology innovation into urban operation mechanisms and economic development logic [7] - The city has implemented various supportive policies for foreign-funded R&D centers and unicorn enterprises, enhancing the innovation and entrepreneurial environment [7] - The establishment of government investment funds targeting artificial intelligence and biomedicine is part of the efforts to strengthen the innovation ecosystem [7] Group 5: Financial Support for Innovation - Beijing has established several government industry investment funds to channel capital into high-growth sectors such as hard technology and green economy [8] - The financial environment in the Changping District has improved significantly, with government investment funds exceeding 42 billion yuan and nearly 40 listed companies [8] Group 6: Regional Collaboration and Output - The collaboration between Beijing and the surrounding regions has led to a significant increase in technology contract transaction amounts, growing from over 7 billion yuan in 2013 to over 84 billion yuan in 2024 [9] - The number of branches established by Beijing enterprises in the Tianjin and Hebei regions has more than doubled from 3,500 to over 10,000 between 2013 and 2024 [9] - The establishment of a financing service mechanism among the three regions has facilitated deeper integration of capital, innovation, and industry chains [9]

Core Insights - The Guangdong-Hong Kong-Macao Greater Bay Area is positioned as a global technology innovation center, with the "Shenzhen-Hong Kong-Guangzhou" tech cluster ranking second globally in the World Intellectual Property Organization's Global Innovation Index for five consecutive years [1] - The region is witnessing significant advancements in original innovation, with collaborative efforts among research institutions leading to breakthroughs in various scientific fields [2][3] - The integration of innovation chains and industrial chains is crucial for the development of high-performance chip technology, with companies leveraging the area's robust supply chain and talent pool [4] Group 1: Technological Advancements - The Greater Bay Area is home to major scientific facilities like the China Spallation Neutron Source, enhancing research efficiency for local teams [2] - Collaborative projects between universities and research institutes in the region have led to significant discoveries in materials science and artificial intelligence [3] - The establishment of 34 joint laboratories across the Greater Bay Area is fostering regional innovation and technological breakthroughs [3] Group 2: Industry Development - The region's comprehensive electronic industry ecosystem supports the sustainable iteration of chip technology, attracting international talent and fostering collaboration [4] - Companies in the Greater Bay Area are expanding their operations and capabilities, exemplified by the growth of 博维智慧科技有限公司 from a small team in Macau to nearly 400 employees in Hengqin [7] - The area is witnessing a surge in high-tech enterprises, with 77,000 national high-tech companies contributing to a dynamic innovation landscape [7] Group 3: Talent Development - The Greater Bay Area is actively cultivating a high-level talent pool, with over 1.58 million R&D personnel and more than 150 academicians working in Guangdong [9] - Hong Kong has implemented various talent attraction initiatives, receiving over 460,000 applications since late 2022, with more than 300,000 approved [9] - Collaborative efforts among the nine cities in the Greater Bay Area aim to enhance cross-border talent mobility and create a cohesive talent ecosystem [9]

丨 来源：中国证券报·中证网 2025-06-06 南开大学金融发展研究院院长田利辉认为，一批具有产业整合逻辑、符合新质生产 力发展方向的上市公司并购重组案例渐次落地，这些案例重组标的更优质、产业协同特 征更明显、科技属性更强，并购重组已成为推动北京建设国际科技创新中心的重要赋能 手段。 北京证监局表示，将进一步加强政策宣讲和案例宣传，推动各方搭建并购重组服务 平台，鼓励各上市公司通过并购重组实现资源的优化配置，围绕向"新"向"好"筹划并购 重组，积极寻找合适的标的资产，推动发挥业务互补、技术互补、优势互补的协同效 应，切实提高上市公司发展质量。同时，要求上市公司在并购过程中，注重标的资产的 质量与自身业务的匹配度，做好尽职调查、估值定价、整合规划等工作，力争最终实 现"1+1>2"的良好成效。 多部门全力推动 北京地区并购重组市场日益活跃，离不开监管部门和地方政府的全力推动。"并购六 条""科创板八条"发布以来，北京证监局、北京市委金融办等相关部门在推动相关政策在 首都资本市场落实落地方面开展了多项工作，包括政策宣传、走访调研、对接资源等。 2024年至今，北京证监局已调研走访辖区287家上市公司，宣讲并购 ...