成都高新区科技创新局相关负责人介绍，成都高新区自2023年实施"中试跨越行动计划"以来，已建成 102个中试平台，覆盖13条制造业重点产业链，累计服务中试项目4547个（次），产品产值累计超131亿 元。2025年，成都高新区8家中试平台入选工业和信息化部首批重点培育名单，1家平台入选首批国家级 制造业中试平台。 成都高新区持续深化"中试+基金"服务体系，推动科技与资本深度融合。通过举办"双向走进中试平 台"等系列活动，积极帮助企业链接基金机构，全年助力企业融资规模超10亿元。全国首只中试创投基 金——成都蜂鸟中试股权投资基金目前已投资来自四川大学、西北工业大学的3个科技成果转化项目， 并储备10余个拟投项目，初步形成"中试验证—基金赋能—产业加速"的服务链条。 1月7日，笔者获悉，全国首个"中试保贷联动"的创新金融产品——"安蒙保贷通"近日在成都高新区正式 发布。该产品由四川微流控科技有限公司（安蒙微球）联合上海浦东发展银行股份有限公司成都分行、 中国人民财产保险股份有限公司成都市分公司共同推出，是成都高新区在深化科技金融融合，破解科技 成果转化关键环节融资难题的重要创新。 此次发布的"安蒙保贷通"是面向科 ...

会上，顺博医疗、工大镀锌等区内重点科技企业代表，结合自身经营发展实际与数字化转型规划，详细介绍了企业现阶段发展状况及融资需求。 天津OTC、博正资本、鸿盛基金、天开执信等多家金融服务机构精准对接企业差异化需求，从股权融资、债权支持、产业链金融等多个维度，为企业量身 定制多元化资本支持方案。 为加快推进科技与金融深度融合，精准服务红桥区科技企业创新发展，强化科技企业融资对接实效，近日，在天津市科技局园区营商环境处指导下，红桥 区科技局、区科技创新发展中心聚焦区内企业融资痛点与发展需求，在三条石街道海河华鼎招商聚智厅组织召开"智慧办公 助力企业数字化转型"融资需 求对接会。 本次活动的成功举办，既是深入落实市、区科技创新工作联动机制的具体实践，也为区域科技型企业拓宽融资渠道、加快数字化转型注入了强劲动力。 会后，市、区两级科技部门还围绕党建共建、园区招商引智、区域科技成果转化、企业高质量发展等工作开展了深度交流研讨，为下一步协同推进区域科 技创新工作奠定了坚实基础。 今后，红桥区科技局将进一步创新服务模式、丰富对接内容、提高活动频次，搭建起科技企业与金融机构沟通协作的坚实桥梁，助力双方高效对接、深化 互信、共谋发 ...

由北京市地方金融监督管理局、北京市通州区人民政府指导，《财经》杂志、财经网、《财经智库》主办的"《财经》年会2026：预测与战略暨2025全球财 富管理论坛"12月18日至20日在北京举行，主题为"变局中的中国定力"。 12月20日，元禾原点合伙人郑丁在"探索'金融+科技+产业'融合发展新路径"圆桌论坛上表示，早期风险投资在金融体系中虽显边缘，但在支持科技创新和成 果转化中扮演着不可或缺的"催化剂"角色。中国要实现高水平科技自立自强，需要构建起资本市场、科技公司与高端人才之间良性互动的"铁三角"生态系 统，打通从基础研究到产业应用的转化通道。 元禾原点合伙人郑丁 他指出，当前一级市场在经历前期调整后，已显现出回暖迹象。这主要得益于三个方面的积极变化：一是政策面的有力支持，国家推出一系列提振资本市场 的具体举措，为市场注入了信心；二是标杆性科技企业的示范效应，以DeepSeek为代表的中国头部科技公司展现出国际竞争力；三是国际资本环境的变 化，美元进入降息周期带来的资本外溢效应，使得港股等市场成为重要的募资渠道。 他认为，科技创业企业具有"三长一大"的典型特征：研发周期长、资金需求大、商业转化周期长。这就要求投 ...

专题：财经年会2026：预测与战略暨2025全球财富管理论坛 《财经》年会2026：预测与战略暨2025全球财富管理论坛于2025年12月18-20日在北京举行。元禾原点 合伙人郑丁指出，2024年以来资本市场呈现回暖迹象，主要得益于国家提振资本市场的有力举措、中国 科技公司在AI领域的突破引发全球价值重估，以及美元降息周期带来的资本外溢。 但当前科技金融融合仍面临核心堵点：国内资本市场对亏损科创企业的IPO包容度不足，2023-2025年每 年亏损企业IPO仅个位数，而美国同期中位数达100家，占比超50%。 "科技企业研发周期长、资金需求大、商业转化慢，若仅以财务指标作为IPO门槛，很多前沿科技公司 可能倒在黎明前。" 他谈到，美国头部科技公司核心人才70%的收入来自资本市场股票收益，全球资本的支持使其在人才争 夺中形成"掐尖效应"；反观国内，工程师红利尚未充分转化为人才待遇优势，AI领域顶尖人才面临硅谷 企业的高薪竞争。 但当前科技金融融合仍面临核心堵点：国内资本市场对亏损科创企业的IPO包容度不足，2023-2025年每 年亏损企业IPO仅个位数，而美国同期中位数达100家，占比超50%。 "科技企业 ...

编辑：赵鼎 转自：新华社客户端 "企业要攀登技术高峰，离不开稳定、足额的金融'燃料'。邮储银行这笔综合授信为我们扩大智能生产 线、冲击新能源汽车部件新赛道解了燃眉之急。"近日，在获得邮储银行青岛分行授予的9000万元小企 业综合授信额度后，青岛博泰汽车零部件有限公司负责人说。 青岛博泰汽车零部件有限公司是高新技术企业、"瞪羚"企业，长期深耕汽车部件领域，其自主研发的产 品已进入多家主流车企供应链。随着市场需求放量与技术迭代加速，企业面临产能升级与研发投入的双 重资金压力，亟需金融活水精准滴灌。 为破解此类高成长性科技企业的融资瓶颈，邮储银行青岛分行主动协同青岛市地方金融监管局、科技局 等部门，深入企业"把脉问诊"。在全面评估博泰汽配的技术实力、市场前景与股权融资规划后，为其量 身定制了一站式金融解决方案。该方案不仅提供了9000万元灵活支用的小企业综合授信额度，更配套了 涵盖结算、供应链金融、票据业务等在内的全方位服务。 在青岛科技创新版图上，此类赋能故事正不断上演。当前，青岛正全力打造现代产业先行城市，当地以 科技金融深度融合为重要抓手，着力破解科创企业融资难题。政府部门联合银行、创投机构等，持续优 化"科 ...

Core Viewpoint - The "Science and Technology Innovation Market" in Shanghai Jiading District aims to enhance the integration of technology and finance, focusing on the entire lifecycle needs of innovative enterprises and accelerating the transformation of scientific and technological achievements [1] Group 1: Platform Development - The "Science and Technology Innovation Market" will provide support services for the transformation of scientific and technological achievements and key industry development, integrating functions such as achievement display, project roadshows, financing connections, innovation services, and policy guidance [1] - A dual-service platform will be established, combining online and offline resources, including a dedicated section on the Shanghai Trading Group's website and a physical knowledge property protection center [2] Group 2: Mechanism Construction - A "three-dimensional linkage" mechanism will be constructed, coordinating financial, technological, and industrial elements to provide diversified capital support for enterprises [2] - The mechanism will involve collaboration among government departments, financial institutions, and innovative entities to strengthen the "Jiading Science and Technology Innovation Core" [3] Group 3: Financial Engagement - During the launch of the "Science and Technology Innovation Market," six technology achievement transformation projects and investment institutions signed equity investment agreements totaling 325 million yuan [4] - Financial institutions, including Shanghai Bank and Bank of Communications, signed credit agreements amounting to 1.052 billion yuan with technology enterprises [4] Group 4: Collaborative Innovation - Jiading District is building a multi-level innovation platform system, creating a collaborative innovation pattern involving universities, leading enterprises, and innovation carriers [3] - The district is also enhancing the collaborative innovation core circle with neighboring regions and establishing alliances in key industries such as new energy vehicles [3]

Core Insights - The Jiangsu Province is focusing on building a globally influential industrial technology innovation center through a ten-year action plan aimed at doubling the modern high-tech service industry, emphasizing six key areas: research and development, entrepreneurial incubation, digital industries, biotechnology, green energy and carbon reduction, and technology finance [1][2] Group 1: Industry Growth and Performance - The revenue of the province's scientific research and technical service industry has shown steady growth, with a year-on-year increase of 9.3% from January to August this year, ranking among the top in the country [1] - The province aims to enhance the quality and scale of high-tech service entities, with the first national regional technology transfer center established in Jiangsu, collecting over 500 enterprise technology demands [5] Group 2: Policy and Support Measures - Jiangsu has implemented 14 specific measures to support the development of the modern high-tech service industry, including optimizing technology platform support and incubating new business models [2] - The province has introduced policies to support high-tech enterprises in the technology service industry through loan interest subsidies and innovation vouchers, benefiting approximately 1,000 enterprises in 2024 [2] Group 3: Innovation and Research Platforms - Jiangsu is enhancing platform construction to gather innovation resources and break through key technologies, with significant advancements in various laboratories focusing on critical technologies such as 6G wireless networks [3] - The province is establishing a high-level new research and development institution system, aiming to build 10 leading, 30 benchmark, and 50 growing institutions [3] Group 4: Technology Transfer and Collaboration - The province has successfully held three consecutive industry-academia-research cooperation conferences, facilitating over 13,000 collaborations and creating a significant platform for technology and industry integration [4] - Jiangsu has revised regulations to improve the technology transfer system and launched a digital technology platform to match supply and demand effectively [4] Group 5: Financial Support and Development - Jiangsu is deepening the integration of technology and finance, with a planned issuance of 300 billion yuan in special loans for the technology sector in 2025 [7] - The province has introduced over 200 specialized financial products for technology enterprises and has facilitated credit loans totaling 117.6 billion yuan for more than 11,000 companies [8] Group 6: Future Development Plans - The Jiangsu Provincial Science and Technology Department plans to accelerate the high-quality development of the technology service industry, focusing on enhancing service capabilities and promoting the comprehensive development of various sectors [8]

Investment Rating - The report does not explicitly provide an investment rating for the banking wealth management industry Core Insights - The banking wealth management market has shown a steady growth in the third quarter of 2025, with a total market size of 32.13 trillion yuan, reflecting a year-on-year increase of 9.42% and a quarter-on-quarter increase of 4.76% [3][11] - The dominance of fixed income products continues, accounting for 97.14% of the total wealth management product size, while mixed products have seen slight growth [12] - The report highlights a shift towards technology-driven services in the wealth management sector, with major firms partnering with Tencent's "Wutong" platform to enhance investor education and customer service capabilities [16] Regulatory and Industry Dynamics - The China Banking Wealth Management Registration and Custody Center released the "Quarterly Report on the Banking Wealth Management Market" for Q3 2025, indicating a robust growth in the number of wealth management products and their total size [11] - Several banks have signed agreements with Tencent's "Wutong" platform to leverage technology for improving financial services and investor education [15][16] - The successful implementation of a new data exchange protocol by Agricultural Bank and its wealth management arm marks a significant step towards standardizing and enhancing the efficiency of the wealth management industry [17] Performance Metrics - Cash management products recorded a 7-day annualized yield of 1.27%, a decrease of 4 basis points from the previous week, while money market funds saw a slight increase to 1.17% [19] - The net asset value (NAV) of banking wealth management products has shown a decrease in the breaking net rate to 1.12%, down 0.74 percentage points, indicating a potential pressure on the products' performance [27][29] - The report notes a convergence in credit spreads, which decreased by 3.44 basis points, suggesting a tightening in the credit market [29]

Core Viewpoints - The banking wealth management market shows steady growth, with the total scale reaching 32.13 trillion yuan, a year-on-year increase of 9.42% and a quarter-on-quarter increase of 4.76% [3][7] - The integration of technology and finance is enhancing investor education and customer service capabilities in the wealth management industry, marking a shift from product sales to service-driven models [11] - The introduction of new data exchange protocols in the banking sector is expected to improve efficiency and transparency in the wealth management market [12] Regulatory and Industry Dynamics - The China Banking Wealth Management Registration and Custody Center released the "Quarterly Report on the Banking Wealth Management Market (Q3 2025)", indicating a robust growth in the wealth management market [3][7] - The number of wealth management products in the market reached 30,600, with a total scale of 29.28 trillion yuan, accounting for 91.13% of the market [7] - The increase in cash and bank deposits to 27.5% reflects a cautious investment approach among wealth management companies [9][10] Performance of Financial Products - Cash management products recorded a 7-day annualized yield of 1.27%, a decrease of 4 basis points, while money market funds saw a slight increase [14] - Fixed income products continue to dominate the market, with a total scale of 31.21 trillion yuan, representing 97.14% of all wealth management products [8] - The overall yield of fixed income products is under pressure due to market volatility and regulatory changes [17] Innovations in the Industry - Agricultural Bank and its wealth management arm successfully implemented a new data exchange protocol, enhancing the standardization and efficiency of the wealth management sector [12] - ICBC Wealth Management participated as a cornerstone investor in the IPO of Cambridge Technology, indicating a strategic focus on the AI computing industry [13] Tracking of Net Value Breaks - The net value break rate for wealth management products was 1.12%, a decrease of 0.74 percentage points, with credit spreads tightening [22] - The current credit spread is at a historical low since September 2024, indicating limited value for wealth management products [22]

Core Viewpoint - The development of the financial sector is closely linked to the modernization of the national economic system, with internet finance playing a crucial role in supporting the real economy and transforming daily life [1][3]. Group 1: Company Developments - Xicheng Industry is set to be listed on the Hong Kong Stock Exchange on October 15, marking a significant milestone in the company's development and a demonstration of its commitment to social responsibility [3]. - The listing of Xicheng Industry is not only a recognition of its past achievements but also an acknowledgment of its future growth potential, enhancing its brand influence and market competitiveness [3][9]. Group 2: Social Responsibility and Innovation - Xicheng Industry aims to fulfill its social responsibility by providing innovative financial services that support small and medium-sized enterprises, contributing to the prosperity of the real economy [3][7]. - The company will continue to explore new models and paths in financial services, driven by technology and guided by responsibility, while enhancing its risk control systems to ensure stable business development [7][9]. Group 3: Industry Impact - The listing of Xicheng Industry reflects the broader trend of Chinese financial enterprises advancing amid globalization, emphasizing innovation and responsibility as key components for high-quality development in the financial sector [9].