记者丨高江虹 实习生彭思雨 图源：新华社 中国旅游协会秘书长葛磊向21世纪经济报道指出，"中国游客成长的速度非常快，审美能力也 在飞速提升。文化旅游下一步的表达、审美和内容，一定要往精品化路线去走。" 9月20日，河南最新文旅大项目——洛阳神都十三坊在国庆节前夕正式向公众揭幕。其总建筑 面积约18.5万平方米，游客在此既能观看沉浸式演艺《河图洛书》，体验XR技术打造的"龙门 大成录"，还能在主题商业区感受盛唐市井的繁华。 这个投资数亿元的文商旅综合体，试图通过"演艺+科技+商业"的融合模式，打破河南文旅依赖 传统演艺项目的路径依赖，也在很多方面体现了河南文旅长红思维的转变。 "我们不是传统的商业体，也不是纯粹的旅游项目，而是一个主客共享的新空间。"洛阳文旅神 都十三坊项目负责人陈奇业说道。文旅战略营销专家、时代文旅战略营销机构董事长熊晓杰认 为，该项目补齐了当下河南文旅欠缺的业态，也是河南下一代文旅项目的新标杆。 编辑丨陶力 近几年河南文旅涌现出无数"出圈"项目：洛邑古城、万岁山武侠城、只有河南·戏剧幻城...但爆 火之后，如何避免"昙花一现"？如何实现从"流量"到"留量"的转变？ 长红机制的探索，不仅是河南 ...

Core Viewpoint - The new policy financial tools proposed by the central government in 2025 and the existing special bonds have distinct differences yet can work synergistically to enhance project financing and support high-quality economic development [1][20]. Group 1: Key Differences Between New Policy Financial Tools and Special Bonds - The new policy financial tools are operated by three policy banks and are market-driven with flexible funding sources, while special bonds are issued by local governments and are considered "explicit debts" [3][4]. - New policy financial tools focus on front-end capital supplementation for projects, whereas special bonds are aimed at back-end project construction [7][8]. - The new tools operate under a market mechanism with risk borne by the market, while special bonds are closely tied to government finances and rely on local government credit [5][6]. Group 2: Collaborative Synergy - The collaboration between new policy financial tools and special bonds creates a "1+1>2" effect through capital supplementation, field collaboration, and financing innovation [8]. - New policy financial tools can directly inject capital or provide interest subsidies to alleviate the capital pressure of special bond projects, enhancing project initiation [9]. - The two tools complement each other in their focus areas, with special bonds emphasizing infrastructure and livelihood projects, while new tools strengthen support for technology and innovation sectors [10]. Group 3: Practical Implementation and Compliance - The collaborative application of new policy financial tools and special bonds must ensure policy compliance and avoid negative list projects [12][13]. - Capital contribution rules dictate that special bond projects must maintain a capital ratio of at least 20%, while new tools can contribute up to 60% of total capital [14]. - Project selection should prioritize areas with overlapping policies and significant strategic importance, ensuring comprehensive revenue coverage [15]. Group 4: Operational Efficiency - Pilot regions can utilize a "self-review" mechanism to expedite project approvals, significantly enhancing operational efficiency [16]. - Non-pilot regions can simplify review processes for eligible projects, allowing for quicker access to funding [17]. - Risk management requires comprehensive monitoring and clear exit strategies for equity investments made through new policy financial tools [18][19].

Group 1 - The government investment funds are required to overcome "administrative" tendencies and enhance market-oriented operations, which are crucial for attracting social capital [1][4] - The National Development and Reform Commission has drafted guidelines and management measures for government investment funds, aiming to strengthen planning and guidance while preventing homogeneous competition and crowding out social capital [1][2] - By the end of 2024, the total scale of government investment funds in China is expected to reach 3.35 trillion yuan, with 1,627 funds established [1] Group 2 - The guidelines emphasize the need to clarify the investment directions of government funds to avoid homogeneous competition and "involution" among local governments [2] - National-level funds are encouraged to focus on modernizing industries, tackling key technologies, and supporting major cross-regional projects, while collaborating with local funds to leverage regional resources [2] - A positive and negative investment direction list has been established to guide government investment funds, indicating previous non-compliance issues [2] Group 3 - There are growing concerns about the crowding out of social capital due to the expanding scale of government investment funds, necessitating a strategic withdrawal from fully competitive sectors [3] - Government investment funds should respect the rights of social capital and aim to attract more private investment, creating a leveraging effect [3] Group 4 - The emphasis on a scientific and efficient management system highlights the importance of market-oriented, legal, and professional principles in the operation of government investment funds [4] - A clear definition of responsibilities and benefits between the government and social capital is essential to establish a sound risk-sharing and benefit-sharing mechanism [4] - The mission of government investment funds includes supporting national strategies, promoting industrial upgrades, and fostering innovation while addressing the challenges of homogeneous competition and crowding out effects [4]

Group 1 - The core viewpoint of the article highlights the establishment of the second phase of the Service Trade Innovation Development Guidance Fund, which has a capital contribution of 10 billion RMB and aims to invest in service trade enterprises with overseas income [1] - The fund will operate using a "mother fund + direct investment" model, with no less than 70% allocated to sub-funds and no more than 30% for direct investments [1] - The fund's management will be led by Liu Ping, who is the executive partner responsible for overseeing the investment activities [1]

Core Viewpoint - The article discusses the efforts of the Qiqihar Circus to attract younger audiences by blending traditional training with modern technology, highlighting the challenges and strategies involved in this transition [2][5]. Group 1: Historical Context and Achievements - Qiqihar Circus, with a history of 73 years, is one of the few state-owned acrobatic troupes registered under the name "circus" in China [2]. - The circus has gained international recognition, participating in various competitions and winning awards, such as the bronze medal at the 2007 Second International Circus Festival in Spain [3][4]. - The troupe has been designated as a "National Cultural Export Key Enterprise" by multiple government departments, reflecting its cultural significance [4]. Group 2: Training and Talent Acquisition - The rigorous training and pursuit of excellence are fundamental to the circus's unique artistic style, characterized as "passionate, explosive, rough, and bold" [4]. - There has been a decline in new talent entering the circus, with only about 13-14 new recruits in the past decade, attributed to parents' reluctance to let their children endure the hardships of acrobatics [6]. - The circus has started recruiting from the Hebei Wuqiao Acrobatic Art School, focusing on students who are committed to making acrobatics a lifelong career [6]. Group 3: Challenges and Perceptions - The perception of circus performances among younger generations is often limited to outdated animal acts, leading to a lack of interest in attending shows [7][9]. - Young performers express the need for the circus to adapt to contemporary tastes, suggesting the incorporation of elements like "Guochao" (national trend) and "anime" into performances [10][11]. Group 4: Modernization and Competition - The Qiqihar Circus is facing competition from market-driven circuses that quickly adapt to modern audience preferences, utilizing advanced technology and immersive experiences [11]. - The Harbin Sunac Paradise Circus, for example, employs 360-degree surround light technology and immersive theater design, appealing more to younger audiences [11]. - The Qiqihar Circus acknowledges the need for improvements in stage design and branding to enhance its appeal to the younger demographic [11].

Core Viewpoint - The article discusses the significant changes expected in the demolition and housing renovation sector in China by 2025, highlighting two main categories of properties that will likely be prioritized for demolition: non-compliant brick-concrete structures and inefficient industrial land [1][3]. Group 1: Housing Renovation and Demolition Trends - Since the initiation of the urban renewal program in 2013, over 60 million housing units have been renovated, with an average annual demolition of over 8 million units from 2015 to 2020, contributing to a 37% increase in commercial housing sales area [3]. - Following the end of the demolition plan in 2021, the average annual demolition volume dropped to less than 2 million units, leading to a period of adjustment in the real estate market [3]. - The Central Economic Work Conference in December 2024 proposed the "Urban Renewal 2.0 Strategy," signaling the start of a new round of demolition plans [3]. Group 2: Key Categories for Demolition - The first category includes brick-concrete structures that do not meet the seismic standards, with approximately 3.5 billion square meters still in existence, primarily built before 1990 [5]. - The second category involves the transformation of inefficient industrial land, with new policies allowing local governments to convert industrial land with over 30% vacancy into residential land [5]. Group 3: Market Dynamics and Opportunities - The new demolition policies emphasize market-oriented operations, requiring a self-balancing rate of at least 85% for projects and encouraging the "bring a plan to auction" model [6]. - Compensation standards have been updated to include a "one-for-one plus 15% area subsidy" approach, which aims to protect the interests of displaced residents [6]. - The transformation of industrial land into residential areas is expected to optimize urban space and enhance land value, providing real estate developers with promising opportunities [5][6].