Core Viewpoint - The Shenyang Municipal Bureau of Industry and Information Technology aims to establish a modern industrial system with Shenyang characteristics, striving to create a national new-type industrialization demonstration zone and ensuring a strong start for the industrial economy in the coming years [1]. Group 1: Industrial Development Strategy - The focus is on stabilizing the industrial foundation by fostering new growth drivers, particularly in advanced manufacturing clusters such as robotics, intelligent manufacturing, industrial mother machines, and aviation [1]. - A multi-point support development pattern will be formed by enhancing the industrial chain and cultivating leading, backbone, and key enterprises [2]. Group 2: Project Support for Industry - The strategy includes building a "3+4+3" industrial system, leveraging national policy funds to improve project conversion efficiency, and guiding enterprises in technological upgrades and project implementation [2]. - Traditional industries like automotive and machinery will be consolidated while promoting the diversified development of the automotive sector and high-quality traditional industry projects [2]. Group 3: Smart Transformation in Manufacturing - A comprehensive implementation of the "smart transformation and digital transition" action will be pursued, focusing on intelligent, green, and integrated development to upgrade traditional industries [3]. - The initiative aims to create a model for the province's digital transformation, with tailored strategies for individual enterprises and full coverage of digital transformation assessments [3]. Group 4: Innovation and Environment Optimization - The integration of technological and industrial innovation will be accelerated by leveraging high-level innovation platforms and promoting the conversion of scientific achievements [3]. - Efforts will be made to optimize the development environment for industrial enterprises, addressing issues such as talent recruitment, production assurance, and market expansion [3].

"促消费、扩投资是拉动经济增长的重要引擎。这需要我们统筹协同发力，推动双向突破。"姜晓华说。 在扩大有效投资方面，坚持投资于物和投资于人紧密结合，聚焦基础设施、产业升级、民生保障等重点 领域，围绕高质量项目开展研究，推动项目早开工、早投产、早见效。在激发消费潜能方面，顺应消费 升级趋势，谋划推出促消费举措，加强健康、养老、托幼、家政等服务消费供给，培育新型消费业态， 吸引更多国外游客来沈消费。 持续深化改革是激发内生动力的关键举措。姜晓华表示，明年将聚焦优化营商环境，逐项对照国际和国 内最高标准找差距、促提升，提出针对性政策举措，降低要素流动成本。还将以国企和开发区为重点， 深化重点领域改革，压实国企改革董事长负责制、开发区改革区县（市）委书记负责制，改出发展活 力，改出实际效益。 "开创沈阳振兴发展新局面，没有局外人，也没有旁观者。"姜晓华表示，市委财经办将当好执行者、行 动派、实干家，坚持目标导向、问题导向、结果导向，发挥好统筹协调作用，以系统部署、靶向举措、 务实作风，推动会议精神落实落地，为奋力谱写中国式现代化沈阳篇章贡献智慧力量。 沈阳日报、沈报全媒体记者 唐心萌 （来源：沈阳日报） 转自：沈阳日报 ...

Core Insights - The proposal outlines the development strategy for Shenyang during the 15th Five-Year Plan period, emphasizing the enhancement of the real economy and the promotion of intelligent, green, and integrated manufacturing [1][2] Group 1: Economic Development and Industry Upgrades - Shenyang aims to optimize and elevate traditional industries by advancing intelligent, green, and service-oriented manufacturing, and promoting the "smart transformation and digital upgrade" of manufacturing [2] - The city plans to cultivate emerging and future industries, focusing on innovative infrastructure, technology research and development, and large-scale application of new technologies and products [2] - Key industrial chains and advanced manufacturing clusters will be developed, with a focus on the automotive and parts industry, equipment manufacturing, aerospace, information technology, and renewable energy sectors [3] Group 2: Financial and Systemic Reforms - The proposal emphasizes the need for comprehensive economic system reforms, particularly in the financial sector, to enhance financial supply and support the development of various financial services [4] - It includes plans to optimize the financial institution system, expand financing scales in credit, bonds, and capital markets, and establish a multi-level investment fund system [4] - The initiative aims to improve the financial ecosystem by establishing a bad asset trading center and enhancing financial arbitration and mediation mechanisms [4]

Core Viewpoint - Shanghai aims to cultivate future industries through a systematic policy framework, targeting breakthroughs in disruptive technologies and the establishment of industry clusters by 2027, with the goal of becoming a globally influential hub for future industries by 2030 [3][12]. Focused Development Areas - The policy emphasizes six key areas: future manufacturing, future information, future materials, future energy, future space, and future health, with specific support for fields like cell and gene therapy, brain-machine interfaces, and biomanufacturing [5][12]. - The rationale for selecting these areas is based on global technology trends and Shanghai's existing technological strengths, aiming for a systematic approach to advance these sectors [6][12]. Investment Mechanism - A "four-in-one" cultivation mechanism is proposed, which includes project manager teams, a task list for breakthroughs, a future industry fund, and support from industry clusters [9][12]. - The future industry fund is designed as a city-level functional mother fund, focusing on disruptive innovation and interdisciplinary technologies, with a total scale of approximately 15 billion yuan and 18 sub-funds already established [9][10]. Key Support Initiatives - The measures include enhancing innovation input, supporting high-quality incubators, and establishing platforms for concept validation and common technology research [16][17]. - The city plans to create national-level future industry pilot zones, fostering a highly concentrated and interactive industrial ecosystem [20][12]. Dynamic Evaluation and Adjustment - A dynamic identification and evaluation mechanism will be established to continuously monitor and assess future industry trends, allowing for timely adjustments in strategic layouts [23][12]. - The policy aims to strengthen the overall coordination and cultivation of future industries and strategic emerging industries through expert consultations and global technology scanning [23][12].

Core Viewpoint - CITIC Limited reported a revenue of RMB 752.87 billion for 2024, a year-on-year increase of 10.6%, and a net profit attributable to ordinary shareholders of RMB 58.20 billion, up 1.1% [1] Financial Performance - The board proposed a final dividend of RMB 0.36 per share, leading to a total annual dividend of RMB 0.55 per share, with a payout ratio of 27.5%, an increase of 1.5 percentage points from the previous year [1] - CITIC's market value increased by 27.5% in 2024, outperforming the Hang Seng Index (17.7%) and the Hang Seng Composite Industry Index (5.52%) [1] - Over the past ten years, CITIC has distributed over HKD 120 billion in dividends, with an average annual dividend rate of 25.3% and a dividend yield of approximately 7% over the last three years [1] Strategic Initiatives - The company is focusing on two major projects: the "Strong Core" initiative for financial enhancement and the "Star Chain" initiative for industrial transformation [2] - The "Strong Core" initiative aims to improve financial services, with over 96% coverage of the first five batches of national specialized and innovative enterprises through services like "equity, loan, debt, and guarantee" [2] - The "Star Chain" initiative emphasizes high-end, intelligent, and green development, with the establishment of the CITIC Equity Investment Alliance managing over RMB 300 billion in funds and directly investing in over 1,000 technology innovation enterprises [2] Subsidiary Performance - In 2024, CITIC's industrial subsidiaries achieved a net profit of RMB 16.35 billion attributable to ordinary shareholders [3] - CITIC Agriculture is advancing projects like the private placement of Longping High-Tech to enhance competitive advantages [3] - CITIC's subsidiaries are contributing to major national infrastructure projects, such as the Shenzhen-Zhongshan Corridor and Changtai Yangtze River Bridge [3]