中证A500指数由各行业市值较大、流动性较好的500只股票组成，覆盖93个中证三级行业中的89个，一 键打包A股各行业代表性公司；创业板指数则由创业板中市值大、流动性好的100只股票组成，战略性 新兴产业占比超九成。 A500ETF易方达（159361）、创业板ETF易方达（159915）规模均位居同类产品前列，流动性较好且管 理费率仅为0.15%/年，可助力投资者一键布局春季行情。 （文章来源：每日经济新闻） 1月9日早盘，A股三大指数集体上行。截至10:00，上证指数上涨0.5%，时隔10年再度站上4100点，自 去年12月中旬以来已涨超7%，新年以来累计涨超130点；中证A500指数上涨0.7%，创业板指数上涨 0.3%。相关ETF中，A500ETF易方达（159361）、创业板ETF易方达（159915）盘中成交额均突破10亿 元。 兴业证券表示，本轮市场向好的中长期叙事，在于市场对于大国崛起、经济结构性转型的信心和决 心，"十五五"规划对于未来五年政策定调和高质量转型的积极表述，有助于提振市场信心、凝聚市场共 识，进一步夯实市场"长牛"逻辑。 ...

1月8日，中国政法大学商学院教授刘纪鹏表示，我们共同见证了一个历史时刻，上证指数从1990年12月 19日开盘以来，在8558个交易日中，第一次出现连续14日阳线的走势，指数也创出了10年多以来的新 高。这不是偶然的市场波动，而是中国资本市场深化改革、迈向高质量发展的必然体现，更是在大国崛 起的进程中，资本金融与实体经济协同发力的信号。 他提出，下一步，真诚地希望能够继续严格规范大股东减持、加大中小投资者保护力度、严格限制量化 交易、注重公平的市场环境。他直言，没有投资者信心的重塑，再充裕的流动性也只能催生短期的泡 沫。 他认为，大国崛起必须靠两条腿走路，一条是高科技代表的产业链，另一条是资本金融代表的价值链。 中国要实现大国崛起就必须把资本金融的短板补上去。在近时期，先把证券化率提高到与大国地位匹配 的1的水平左右，也就是股票市值要从今天的112万亿提升到140万亿。到那时，股市不仅能站上5100 点，更能成为支撑科技创新、增加居民财产性收入的重要平台。 股票频道更多独家策划、专家专栏，免费查阅>> 责任编辑：栎树 ...

转自：推广 奋斗是时代的星火，青春是奔流的长河，当万千炽热的星火，汇入奔腾的长河，也汇成了照亮一座城未来的光芒。 为深入贯彻落实习近平总书记关于大思政课和青年工作系列重要论述精神，不断拓展实践育人和网络育人的空间和阵地，近年来，中央网信办"把青春华 章写在祖国大地上"大思政课网络主题宣传和互动引导活动陆续在北京大学、厦门大学、四川大学、南开大学、河海大学等高校举行。活动紧扣青春爱国 奋斗主题，通过主题演讲、互动分享等形式，讲述各行各业青年扎根祖国大地、践行青春使命的故事，激励广大青年奋进新征程、建功新时代。 在中央网信办"青春华章"主题活动示范引领下，成都强化"互联网+思政"思维，创新大思政课城市化表达，打造"青春大讲堂"大思政品牌，致力于把思政 小课堂同社会大课堂结合起来，引导广大青少年立大志、明大德、成大才、担大任，努力成为堪当民族复兴重任的时代新人。 2025年12月23日晚7点，"青春大讲堂·2026成都城市跨年演讲"大思政课网络主题宣传和互动引导活动在成都开讲。截至活动结束，新华网、光明网等多个 媒体线上直播平台全网观看达677.8万人次。 活动现场 来自各行各业的青春榜样带着滚烫的故事逐一登台，围 ...

Group 1 - The core logic of the upcoming A-share bull market in 2025 is driven by the rise of national fortunes, which injects strong momentum into the capital market through institutional adjustments, technological breakthroughs, and major power dynamics [1] - The meeting in February 2025 between top leaders and private entrepreneurs marked a turning point, correcting previous restrictive policies and optimizing the institutional environment for private high-tech enterprises, enhancing long-term market expectations [3] - Breakthroughs in technology, such as the DeepSeek model and advancements in robotics, have positioned AI and semiconductor assets as new hotspots in the capital market, reflecting the technological foundation of the national fortune bull market [4] Group 2 - In the context of ongoing geopolitical tensions, China demonstrated strong countermeasures against unilateral tariffs from the U.S., showcasing its ability to effectively respond in trade negotiations [4] - The military and diplomatic strategies employed by China have not only safeguarded national interests but also enhanced the country's image as a responsible major power, boosting confidence in the capital market [4] - The combination of institutional support for the private economy, technological breakthroughs, and strengthened national power dynamics distinguishes the 2025 bull market from previous cycles, transforming abstract concepts of national fortune into tangible growth drivers [4]

Core Viewpoint - The article discusses the historical attempts of various companies to challenge Kweichow Moutai's dominance in the A-share market, highlighting the cyclical nature of these challenges and the eventual decline of most contenders. Group 1: Historical Challenges to Kweichow Moutai - China Shipbuilding, originally known as Hudong Heavy Machinery, became the highest-priced stock in A-shares in 2007, reaching 111.62 yuan before a significant market crash [5]. - Following the 2007 peak, China Shipbuilding's stock plummeted to around 10 yuan by 2018, while Moutai's price rose to 500 yuan [6]. - Other companies like Shenzhou Taiyue and Yanghe Distillery made brief attempts to surpass Moutai but ultimately failed to maintain their positions [9][13]. Group 2: Yanghe Distillery's Rise and Fall - Yanghe Distillery capitalized on the booming white liquor market and innovative marketing strategies, briefly surpassing Moutai in 2010 with a closing price of 146.87 yuan [10][11]. - However, after government regulations on public spending, Yanghe's stock price fell from around 70 yuan to below 20 yuan [11]. Group 3: Other Notable Contenders - Companies like Wanshu Technology and Feitian Chengxin also attempted to challenge Moutai during market booms but faced significant declines post-peak [16][18]. - All-in-one education company Quanta Education saw its stock soar to 467 yuan in 2015 but subsequently crashed to around 3 yuan due to unsustainable valuations [19][22]. Group 4: Current Context and Future Challenges - The article notes that since 2013, despite a generally weak macroeconomic environment, several companies have emerged to challenge Moutai, with the latest being Cambrian [23]. - Cambrian's challenge is set against a backdrop of Moutai's declining stock price and the resurgence of interest in semiconductor stocks, reminiscent of past challenges [23].

Core Insights - The rise of major powers is closely linked to the shift of global financial centers, influencing the trajectory of global dynamics over the past 500 years [1][4]. Historical Context - The Netherlands emerged as a global power from the 17th century, developing its transportation industry and establishing the first joint-stock company, with Amsterdam becoming the world's financial center [1][3]. - Following the Netherlands, Britain established its own East India Company and took control of New Amsterdam, renaming it New York, marking the beginning of British global dominance from 1714 to 1944 [3][4]. Transition of Financial Power - The Bretton Woods Conference marked a significant transition where the British pound was replaced by the US dollar as the international reserve currency, with the dollar pegged to gold at $35 per ounce [4][5]. - The US dollar's detachment from gold in 1971 and its subsequent linkage to oil solidified the US's financial dominance, which is projected to last until 2025, totaling 81 years [5][6]. Current Economic Landscape - The US GDP stands at $29.2 trillion, while China's GDP is approximately $18.4 trillion, indicating that China's economy is about 66% the size of the US economy [5][6]. - The total market capitalization of US securities markets is around $64 trillion, compared to China's approximately $12 trillion, highlighting a significant gap in financial market size [6]. Implications for China - China's rise is driven by a dual engine of manufacturing and finance, emphasizing the need for coordinated development in both sectors to achieve its goals [6]. - Historical patterns suggest that the success of rising powers is often tied to their financial systems, indicating that China must prioritize financial development to secure its position as a global power [6].