Core Viewpoint - Despite a challenging external environment, Shenzhen's foreign trade continues to show resilience and maintain a steady growth momentum, with a total import and export scale of 3.36 trillion yuan in the first three quarters of the year, marking a year-on-year increase of 0.1% [1][3]. Group 1: Trade Performance - Shenzhen's total import and export volume reached 3.36 trillion yuan, maintaining its position as the leading foreign trade city in mainland China [1]. - Exports amounted to 2.04 trillion yuan, while imports reached 1.32 trillion yuan, with imports growing by 8.4% [1]. - In the first three quarters, Shenzhen's private enterprises accounted for 68.9% of total imports and exports, amounting to 2.32 trillion yuan [9]. Group 2: Role of Private Enterprises - Private enterprises, which make up 97% of the market, are the main force in stabilizing Shenzhen's foreign trade and driving market expansion [5]. - Traditional industries are actively transforming by aligning with diverse overseas demands and moving up the value chain [5]. - Innovations such as the V'mo fingerprint lock bag, which won the 2025 German iF Design Award, exemplify the technological advancements and market adaptability of Shenzhen brands [5][6]. Group 3: Product Innovation - Product innovation is identified as the core competitive advantage for brands going global, with many Shenzhen companies achieving significant breakthroughs [6]. - Shenzhen's bicycle manufacturer, Xidesheng, has developed a carbon fiber bike frame weighing only 560 grams, showcasing its technological prowess [7]. - In the first three quarters, Shenzhen exported bicycles worth 770 million yuan, reflecting a year-on-year growth of 34.5% [7]. Group 4: Export Structure and New Industries - The general trade method, characterized by longer supply chains and higher added value, accounted for 53.8% of Shenzhen's total import and export value, amounting to 1.81 trillion yuan [10]. - Emerging industries, including 3D printing and lithium batteries, are driving export growth, with lithium battery exports increasing by 36.6% [11]. - Shenzhen's traditional electronic information products, such as computers and audio-visual equipment, also maintained a competitive edge, with exports growing by 10.6% and 6.3% respectively [11]. Group 5: Expanding Trade Partnerships - Shenzhen's foreign trade partnerships are expanding, with total imports and exports to the top ten trading partners reaching 2.63 trillion yuan, a growth of 2.2% [13]. - The ASEAN region has become a significant trading partner, providing more export opportunities, especially for high-value products [13]. - The 22nd China-ASEAN Expo facilitated significant orders for Shenzhen's innovative products, further solidifying its influence in the ASEAN market [13]. Group 6: Import Trends - Imports of electromechanical products reached 1.08 trillion yuan, growing by 10.7% and accounting for 81.4% of total imports [15]. - Agricultural product imports also saw a growth of 9.3%, amounting to 752.3 million yuan [15].

监管部门通过一系列政策文件引导资本市场建立起"长钱长投"的市场生态，中长期资金所具备的多项特点，使其能够充分发挥资本市场的"稳定器"和"助推 器"的作用，通过改善市场生态、服务实体经济、应对社会长期需求，最终实现经济与金融的良性循环。 "期限长、风险偏好高、注重长期价值回报是长期资本和耐心资本的核心特点"南开大学金融学教授田利辉表示："长期资本和耐心资本有三大优势：一是能 够跨越周期，通过逆周期布局平滑市场波动；二是可以共创价值，通过投后管理来参与和提升企业治理；三是能够稳定市场，长期持有减少投机行为，增强 市场韧性。" 基于此，中长期资金入市对资本市场良性发展具备重要意义。田利辉认为，长期资本、耐心资本入市后可以优化市场结构，降低散户占比，提升机构投资者 话语权。增强市场稳定性，长期资金长期持有优质股，减少"羊群效应"引发的剧烈震荡。同时引导价值投资，推动市场从"炒题材"转向"看基本面"，支持优 质企业成长。 向资本市场注入长期资金 中长期资金入市对资本市场的影响深远，它不仅是资本市场重要的资金来源，还能够通过长期投资、价值投资策略以及资金配置降低市场波动、优化投资者 结构、增强市场韧性，营造稳定的市场环境 ...