转自：人民政协报 刚刚闭幕的中央经济工作会议将"坚持内需主导，建设强大国内市场"摆在2026年经济工作重点任务的首 位，体现了扩大内需对做好2026年经济工作的重大意义。 消费和投资两者既相互联系，又相互促进。通常而言，消费是慢变量，消费增长取决于当期收入和对未 来的收入预期，难以在短期内实现大幅增长。投资是快变量，通过动员可在短期内实现较快增长。 当前，固定资产投资增速出现下滑，但人均资本存量与发达国家相比仍有较大差距，特别是传统产业技 术改造、关键核心技术、城市更新改造、乡村基础设施、公共服务等短板领域仍然突出，投资需求潜力 仍然巨大。当前，在民间投资预期较弱和社会投资内生动力不足的情况下，要强化逆周期调节，发挥政 府投资的引导作用，2026年要用好中央预算内投资、超长期特别国债、地方政府专项债券等资金，优化 实施"两重"项目，靠前实施具备条件的"十五五"重大项目，发挥重大工程牵引带动作用，同时通过深化 改革，重构民营企业信心，增强市场主体投资热情，推动投资止跌回稳。 2025年是"十五五"开局之年，要从国家战略全局出发，针对战略骨干通道、新型能源体系、重大水利工 程、重大科技基础设施以及城市更新改造等领 ...

Group 1 - The Ministry of Commerce of China has expressed strong opposition to the U.S. decision to impose 301 tariffs on certain Chinese semiconductor products, emphasizing that it does not recognize the conclusions of the U.S. 301 investigation [2] - The Ministry of Commerce reiterated its commitment to maintaining the stability of global supply chains and facilitating compliant trade regarding rare earth magnet exports to the U.S. [2] - The Shanghai Stock Exchange has announced the scheduled disclosure dates for 2025 annual reports, with Chipway Technology set to disclose on February 3, 2026, followed by *ST Huawang and Shangwei Co. on February 13 and 14, 2026, respectively [2] Group 2 - The State Administration for Market Regulation has identified issues in the "Antarctic Krill Oil" incident, highlighting non-compliance in the production and processing behaviors of companies, and plans to implement new regulations to enhance supervision of food production [3] - The National Development and Reform Commission will hold a press conference to discuss the work related to the National Venture Capital Guidance Fund on December 26 [4] Group 3 - The National Press and Publication Administration has approved 144 domestic online games for December 2025 [5] - The Shanghai Municipal Government has issued a plan to strengthen the open-source system, aiming to build a competitive open-source innovation hub by 2027, with goals including the establishment of 1-2 internationally influential open-source communities and the cultivation of 100 commercial open-source enterprises [5] Group 4 - The Guangzhou Municipal Government has introduced 18 measures to support the development of the gaming and e-sports industry, including funding for significant breakthroughs in gaming technology [6] - A team from the National University of Defense Technology has set a new global record for superconducting magnetic levitation speed, accelerating a test vehicle to 700 km/h in just two seconds [6] - Major silicon wafer manufacturers have significantly raised their prices, with average increases reaching 12%, attributed to rising upstream silicon material costs [6] Group 5 - Shanghai Port Bay's commercial space business and perovskite solar business are projected to account for less than 1% of the company's revenue in 2024 [8] - Huadian Technology has signed a contract worth 265 million yuan for six major pipelines for a supercritical power plant [9] - Yichang Technology will resume trading on December 26 after the Chuzhou State-owned Assets Supervision and Administration Commission becomes the actual controller [10] - Unisoc's subsidiary plans to establish a new company with a subsidiary of CATL to engage in automotive domain control chip business [11] - Banachian intends to acquire 100% of Zhonglian Century's shares and will resume trading on December 26 [12] - Zhongding Co. plans to set up a joint venture to manufacture humanoid robots [13] - Guangju Energy will collaborate with China General Nuclear Power Group in areas such as electricity sales and virtual power plants [14] - Zhongwei Co. has signed a strategic cooperation framework agreement with Xinwangda for solid-state battery development [15]

12月25日，《广州市扶持游戏电竞产业发展的十八条措施》在广州市人民政府官网正式发布，这是广州市首个扶持游戏电竞产业发展的专项政策。广州市游 戏电竞产业发展起步早、产业规模大，在全国具有一定影响力和比较优势。该措施立足电竞赛事、游戏产品等载体，扶持覆盖产业全链条，生动展现广州城 市形象与创新活力，提升城市文化影响力。 该措施提到，支持电竞赛事举办。支持引进国际国内顶级赛事、以城市名称冠名顶级赛事、依托企业培育顶级赛事，对举办国际国内高水平电竞赛事，给予 每项赛事主办单位或承办单位最高不超过500万元的事后一次性补助。扶持电竞赛事联盟和电竞俱乐部。对电竞赛事联盟按照年度赛事总投入给予每个赛事 联盟最高不超过200万元的事后一次性补助。对电竞俱乐部获得国际国内高水平电竞赛事前四名的，依等次给予一次性扶持奖励。支持电竞场馆建设。支持 各区按照承办国际赛事标准，新建或改建一批专业电竞场馆。 同时，支持人工智能、虚拟现实、元宇宙、超高清视频等技术和游戏电竞产业深度融合，围绕游戏领域"卡脖子"技术开展研发，对在游戏科技领域取得显著 突破的优质项目，给予最高不超过300万元的一次性扶持奖励。 第三条设立广州市游戏电竞产业专 ...

Group 1 - The Ministry of Commerce of China has expressed strong opposition to the U.S. decision to impose 301 tariffs on certain Chinese semiconductor products, stating that it does not recognize the conclusions of the U.S. 301 investigation and has lodged formal representations through the China-U.S. economic and trade consultation mechanism [2] - The Ministry of Commerce emphasized its commitment to maintaining the security and stability of global supply chains and facilitating compliant trade, particularly regarding rare earth magnet exports to the U.S. [2] - The Shanghai Stock Exchange has announced the scheduled disclosure dates for 2025 annual reports, with Chipway Technology set to disclose on February 3, 2026, followed by *ST Huawang and Shangwei Co. on February 13 and 14, 2026, respectively [2] Group 2 - The State Administration for Market Regulation has identified issues related to the "Antarctic Krill Oil" incident, highlighting non-compliance in the production and processing behaviors of some enterprises, and plans to implement new regulations to enhance supervision over food entrusted production [3] - The National Development and Reform Commission will hold a press conference on December 26 to discuss the work related to the National Venture Capital Guidance Fund [4] - The National Press and Publication Administration has approved 144 domestic online games for December 2025 [5] Group 3 - The Shanghai Municipal Government has issued an implementation plan to strengthen the open-source system, aiming to build a competitive open-source innovation hub by 2027, with goals including the establishment of 1-2 internationally influential open-source communities and the cultivation of 100 commercial open-source enterprises [5] - The Guangzhou Municipal Government has introduced 18 measures to support the development of the gaming and e-sports industry, encouraging technological innovation and collaboration with national-level projects [6] - A team from the National University of Defense Technology has set a new global record in magnetic levitation experiments, accelerating a test vehicle weighing tons to 700 km/h in just two seconds [6] Group 4 - Major silicon wafer companies have significantly raised their prices, with 183N silicon wafers priced at 1.4 yuan per piece, 210RN at 1.5 yuan, and 210N at 1.7 yuan, reflecting an average increase of 12%, attributed to rising upstream silicon material costs [6] Group 5 - Shanghai Port Bay reported that its commercial aerospace and perovskite solar business will account for less than 1% of the company's revenue in 2024 [8] - Huadian Technology has signed a contract worth 265 million yuan for six major pipelines for a supercritical power plant [8] - Yichang Technology will see the Chuzhou State-owned Assets Supervision and Administration Commission become its actual controller, with shares resuming trading on the 26th [8] Group 6 - Unisoc Microelectronics plans to establish a new company with a subsidiary of CATL to engage in automotive domain control chip business [9] - Baina Qiancheng intends to acquire 100% of Zhonglian Century's shares, with trading resuming on the 26th [9] - Zhongding Holdings plans to set up a joint venture to manufacture humanoid robots [9] Group 7 - Guangju Energy intends to collaborate with China General Nuclear Power Corporation in areas such as electricity sales and virtual power plants [10] - Zhongwei Co. has signed a strategic cooperation framework agreement with Xinwanda for solid-state batteries [10]

12月25日，广州市人民政府官网正式发布《广州市扶持游戏电竞产业发展的十八条措施》，这是广州市 首个扶持游戏电竞产业发展的专项政策。 其中提到，设立广州市游戏电竞产业专项扶持经费。实行项目公开征集、专家评审、结果公示、绩效评 价、跟踪监督等。单个企业每年获得本政策所涉及的财政扶持资金最高不超过1000万元。同一事项不得 重复申报同级财政扶持。一款游戏产品的不同版本视作同一产品，不得重复申报。对上线1年以上3年以 下（均含本数）、具有强大文化传播力和社会影响力的优秀游戏产品，按照营业收入分成给予游戏运营 单位最高不超过500万元的事后一次性补助。 支持人工智能、虚拟现实、元宇宙、超高清视频等技术和游戏电竞产业深度融合，围绕游戏领域"卡脖 子"技术开展研发。鼓励游戏电竞企业积极承担国家级重点实验室、国家级产业创新平台及国家重大项 目，积极引进国家重点研发计划项目优质成果在穗落地转化。经市游戏电竞产业主管部门组织评审认 定，对在游戏科技领域取得显著突破的优质项目，给予最高不超过300万元的一次性扶持奖励。 广州市扶持游戏电竞产业发展的十八条措施 第一条为落实广东打造游戏电竞产业"双核"布局，推动广州游戏电竞产业高质 ...

支持游戏企业将中华优秀传统文化元素与游戏场景有机融合，推动游戏产品出海。对在海外发行、影响 力强的优秀游戏产品，按照每款游戏产品年度实际结汇金额，给予最高不超过30万元的事后一次性补 助。 格隆汇12月25日｜《广州市扶持游戏电竞产业发展的十八条措施》在广州市人民政府官网正式发布，这 是广州市首个扶持游戏电竞产业发展的专项政策。力争实现2030年广州进入全球游戏电竞行业最具影响 力城市行列的发展目标，结合我市实际，制定本措施。支持人工智能、虚拟现实、元宇宙、超高清视频 等技术和游戏电竞产业深度融合，围绕游戏领域"卡脖子"技术开展研发。鼓励游戏电竞企业积极承担国 家级重点实验室、国家级产业创新平台及国家重大项目，积极引进国家重点研发计划项目优质成果在穗 落地转化。经市游戏电竞产业主管部门组织评审认定，对在游戏科技领域取得显著突破的优质项目，给 予最高不超过300万元的一次性扶持奖励。 ...

李拯：习近平总书记强调："扩大内需既关系经济稳定，也关系经济安全，不是权宜之计，而是战 略之举。"中央经济工作会议把"坚持内需主导，建设强大国内市场"摆在明年经济工作重点任务的首 位。如何全面、辩证、长远看待扩大内需的挑战和潜力？ 王一鸣：扩大内需，既要看总量也要看结构。从投资看，传统领域投资动能有所减弱，但高技术产 业投资增长较快。长远来看，我国人均资本存量水平还比较低，特别是在科技创新、产业升级、城市更 新改造、乡村基础设施、公共服务等方面短板弱项仍然突出，投资潜力仍然巨大。 从消费看，服务消费等消费新增长点不断形成，今年前11个月服务零售额同比增长5.4%，呈现改 善趋势。明年，制定实施城乡居民增收计划，深入实施提振消费专项行动，消费潜力将进一步释放。 李拯：今年中央经济工作会议上，习近平总书记叮嘱："对投资下滑，既要高度重视也要沉着冷 静。从基本实现社会主义现代化的要求来看，无论投资于物还是投资于人都有广阔空间。"如何开辟这 个广阔空间？ 对话人：李拯 人民日报评论员 王一鸣 中国国际经济交流中心副理事长 王一鸣："十五五"规划建议把"居民消费率明显提高"列为经济社会发展的主要目标之一。从需求侧 看， ...

第二，更加注重消费升级领域投资。重点支持科技创新、新型基础设施、节能减排降碳等领域投资，鼓 励"人工智能+"、超高清视频、人形机器人等新技术新产品开发，开辟更多高成长性消费新赛道，释放 新型消费、数字消费、绿色消费潜能。 第三，更加注重通过投资释放消费潜能。加强一、二线城市保障房建设，加强城市路网和地下管廊建 设，提高城市居民人均道路水平，增加农业转移人口基本公共服务供给，把城市居民潜在的"住""行"消 费和农业转移人口潜在消费需求进一步释放出来。 第四，深化改革促进投资和消费联动。我国商品消费相对饱和，服务消费占比持续提升。随着收入水平 提高和中等收入群体扩大，对高品质服务消费需求与日俱增。但目前突出问题是部分领域市场准入受到 限制，价格管制社会资本投资积极性，如非义务教育收费、医疗服务价格、交通运输价格和城市公用事 业收费等长期不变。通过理顺价格，吸引社会资本投资，放大政府投资效应，同时实行工资和价格联 动，给低收入者补贴，确保提高的工资和补贴能够覆盖价格上升，促进整个经济循环起来。通过增加高 品质服务供给，满足中高收入群体多样性差异化服务消费需求。总之，通过扩大民生建设、消费升级等 领域投资，通过增加有 ...

Group 1 - The company is a direct supplier to Tesla, focusing on robotics, industrial AI, industrial AR/VR, Industry 4.0, and smart manufacturing [2] - The company plans to invest up to 9 billion yuan in cloud computing services, integrating optical chips, cloud computing, big data, artificial intelligence, and smart storage [2] - The company's products have been utilized in major global sporting events such as the Qatar World Cup and the Paris Olympics, emphasizing its involvement in virtual reality, MiniLED, artificial intelligence, and ultra-high-definition video [2]

Core Viewpoint - The recent consumer data indicates a continuous decline in retail sales, prompting the need for new consumption policies to stimulate economic activity [2][3]. Economic Data Summary - From January to October, the total retail sales of consumer goods reached 412.169 billion yuan, growing by 4.3%. In October alone, retail sales amounted to 46.291 billion yuan, reflecting a year-on-year increase of 2.9%, marking five consecutive months of decline [2][4]. - The retail sales growth rate has decreased from 6.4% in May to 2.9% in October, with a consistent downward trend observed over the past five months [3][4]. - October's retail sales performance may not be as weak as it appears, as the year-on-year growth was affected by a high base from the previous year, where October recorded a 5% growth [4]. Consumption Trends - In October, the retail sales of goods reached 41.092 billion yuan, with a year-on-year growth of 2.8%. The catering revenue was 5.199 billion yuan, growing by 3.8%, showing a recovery from previous lows [4][5]. - The automotive sector significantly impacted the overall retail sales growth, with a noted decline in sales. Excluding automotive products, the retail sales of consumer goods grew by 4.0%, an increase of 0.8 percentage points from September [4][5]. Policy and Strategic Initiatives - The State Council emphasized enhancing the adaptability of supply and demand to unlock consumption potential and improve economic circulation. This includes promoting consumption upgrades to lead industrial upgrades and better meet diverse consumer needs [2][6]. - The government plans to accelerate the application of new technologies and models, focusing on key industries to develop new products and value-added services [6]. Sector-Specific Insights - The report highlights the growth of service consumption as a significant contributor to overall consumer spending, with service retail sales accelerating compared to goods retail sales [5]. - The focus on artificial intelligence, ultra-high-definition video, smart wearables, and drones is expected to drive future consumption growth, with specific targets set for market expansion in these areas [7][8].