海南日报讯（海南日报全媒体记者 孙慧 实习生 吴琦）近日，海南省住房和城乡建设厅印发《关于 进一步加强装配式建筑建设管理工作的通知》，将从2026年1月1日起优化调整装配式建筑实施范围，并 推动新质生产力赋能装配式建筑，加快构建契合海南热带岛屿地域特色的装配式建筑高质量发展体系， 有效引领建筑业向绿色化、工业化、智能化转型。 我省住建等相关监管部门将完善装配率计算规则。监管部门进一步强化装配式建筑主体结构质量安 全，结合我省抗震设防烈度，实施分类管理，构建差异化装配率指标体系。扩大装配式装修应用范围， 提高需要频繁更换的装修、水暖管线等装配式部品部件的应用比例，优化主体结构、围护墙及内隔墙、 装修等方面的分值权重设置。 据悉，相关监管部门将依托"海南省装配式建筑部品部件质量可追溯系统"，强化装配式建筑项目建 造过程信息化监管，实现装配式建筑预制构件生产、安装施工、监督的信息化管理，提升生产质效及监 管实效。生产和施工单位需及时将购销合同、产品合格证、交接单、专项施工方案、验收资料等信息上 传至该系统，与施工现场监管平台数据互通互享，形成闭环监管机制，全面提升装配式建筑信息化监管 水平。 此外，我省鼓励装配式建 ...

接下来还要通过多方面措施，巩固资本市场回稳向好的势头。中长期的改革举措推动市场发展 更多依靠业绩驱动、制度变革驱动。市场运行逻辑的深刻变化为巩固市场回稳向好势头、增强 市场吸引力和包容性奠定良好基础。巩固资本市场回稳向好的势头，可以通过多方面措施，一 是进一步增量扩围资本市场调节工具，包括优化支持资本市场两项工具额度使用和政策安排 等；二是一些专家建议，创设新型金融工具，增加对中央汇金公司的流动性补充，整合地方资 产管理公司、地方金融控股平台等资源，增强其稳定资本市场的能力；三是进一步规范化中央 汇金公司的类平准基金相关操作，建立科学、完善的运行机制与制度安排。当前国际经济环境 依然严峻复杂，不确定性风险因素依然较多，巩固资本市场回稳向好势头仍不可掉以轻心。 近日，中共中央政治局召开会议，分析研究当前经济形势，部署下半年经济工作。会议指出， 增强国内资本市场的吸引力和包容性，巩固资本市场回稳向好势头。会议关于中国资本市场的 发展部署，充分体现完整、系统且长远的战略考量。 增加市场的吸引力，首先需要改善投资预期。关于市场吸引力，如果侧重于资金端，那么"吸 引力"是指持续鼓励和引导国内外资金进入资本市场；如果侧重 ...

Core Insights - The forum focused on the development trends of computing power infrastructure in the AI era, emphasizing the importance of collaboration and innovation for high-quality development in the AI industry [1][2]. Group 1: Forum Highlights - The forum was guided by the World Artificial Intelligence Conference Committee and featured discussions on key topics such as technological innovation paths and industry ecosystem collaboration [1]. - Shanghai's commitment to becoming a global digital hub was highlighted, with a focus on accelerating the layout of new-generation information infrastructure [1]. Group 2: Company Initiatives - Kehua Data's President emphasized the role of computing power infrastructure as a core engine for industrial intelligent transformation, leveraging nearly 40 years of experience in power electronics and over 10 years in data center operations [2]. - The company aims to provide comprehensive scenario-based computing power service solutions, focusing on green energy to drive a smart future [2]. Group 3: Product Launch - Kehua Data launched the Computing Power Platform V2.0, which integrates a nationwide management and scheduling system for diverse computing power resources across four major intelligent computing clusters [3]. - The platform aims to enhance the delivery capability across various industry applications by connecting technology, ecosystem, and scenario value dimensions [3]. Group 4: Strategic Collaborations - The forum included multiple signing ceremonies for strategic partnerships with various companies in the AI and IT service sectors, aiming to build a more comprehensive AI industry ecosystem [4]. - These collaborations reflect industry recognition of Kehua Data's technological strength and service capabilities, laying a solid foundation for future innovations and commercial applications in the AI sector [4]. Group 5: Expert Discussions - A roundtable discussion addressed the evolution and innovative practices of computing power infrastructure in the AI era, focusing on industry pain points, technological trends, and business models [4]. - Participants shared valuable insights and practical wisdom on the effective application of AI technologies in real-world scenarios [4].

新华财经上海7月28日电 WAIC 2025期间，中信集团在科产融创新发展论坛上启动科技创新"磐石"行 动，同时，中信智库发布《AI新纪元：砥砺开疆·智火燎原》AI+产业发展深度研究报告。 中信智库专家委员会主任，中信建投证券党委委员、执委会委员武超则介绍， AI大模型正朝着更强、 更高效、更可靠的方向演进，形成推理模型持续深化、智能体加速爆发的格局。2025年AI应用加速落 地，此时AI算力消耗重心从训练阶段转向推理阶段，带来显著的算力需求增量，而国内算力自主可控 的趋势也日益凸显。此外，本轮AI在各领域的渗透速度较互联网时代明显加快，B端的落地进程或超预 期。 中信集团党委副书记张世昕表示，近年来，中信集团在支持人工智能发展、助力培育新质生产力等方面 形成了独特优势，未来将以"人工智能+"为引领，推动我国科技跨越发展、产业优化升级。一是联合推 进核心技术攻关，筑牢科技创新根基和底座。二是开放自身优势场景和优质数据，推动构建"基础研究 —技术攻关—成果转化"的全链条创新体系。三是综合金融提升"股贷债保"联动供给效率和覆盖面，将 全量、全维度的资金链精准嵌入产业链、创新链。四是完善内部模型风险监管、数据权限隔 ...

Core Viewpoint - The China Securities Regulatory Commission (CSRC) emphasizes the importance of mergers and acquisitions (M&A) as a tool to enhance the investment value of listed companies, with a focus on implementing the "Six Guidelines for Mergers and Acquisitions" and major asset restructuring management measures [1]. Group 1: M&A Market Overview - As of July 25, 2025, there have been 3,531 disclosed M&A-related announcements in the A-share market, with a total value exceeding 8.76 trillion CNY [2]. - Among these, 219 cases constitute significant restructuring events, compared to only 104 such events in the first half of the year [2]. Group 2: Regional Policies and Trends - Various regions, including Shanghai, Anhui, Shenzhen, Henan, and Tianjin, have introduced supportive policies for M&A, reflecting distinct industrial characteristics and regional features [3][4]. - Shanghai's M&A support plan focuses on key industries such as integrated circuits, artificial intelligence, and biomedicine, aiming to enhance industrial concentration through mergers and acquisitions [3]. - Henan's policy encourages listed companies to utilize M&A for transformation and innovation, particularly in sectors like artificial intelligence and high-end equipment [4]. Group 3: Industry Characteristics and Trends - The current wave of restructuring is characterized by a focus on capability enhancement rather than mere scale expansion, with an emphasis on acquiring key technologies within the industrial chain [5]. - The restructuring trend is facilitating the integration of industries across different regions, promoting a balanced economic development throughout the country [5].

Economic Performance - Guangxi's GDP grew by 5.5% in the first half of 2025, surpassing the national average, expected targets, and last year's performance [1] - The region's foreign trade import and export volume increased by 13%, exceeding the national growth rate by 10.1 percentage points [1] - Fixed asset investment continued to show positive growth, with significant progress in major projects such as the Pinglu Canal and the Guangxi Water Resource Allocation Project [1] Industrial Development - Guangxi is focusing on artificial intelligence and key metals, with the establishment of the China-ASEAN AI Innovation Cooperation Center and multiple AI cooperation agreements signed with ASEAN countries [2] - In the first half of the year, 94 new AI projects were signed, with a total investment of 497.2 billion yuan, marking a 24.6% year-on-year increase [2] - The industrial sector's AI core industry output value exceeded 39 billion yuan, with rapid growth in new product outputs such as displays and electric vehicles [2] Investment and Infrastructure - A total of 1,514 new projects were signed in Guangxi, with a total investment of 497.2 billion yuan, and completed investments in landed projects reached 189.1 billion yuan, up 18.1% year-on-year [2] - The region aims to enhance the utilization rate of idle standard factories in industrial parks and attract more external and foreign investments [3] - Guangxi plans to establish an AI academy and a laboratory to support the development of AI and related technologies [3] Consumer Market - The "ASEAN Fruit Gathering in Guangxi" event showcased the potential for cross-border consumption, leveraging Guangxi's rich resources [4] - The region is working to implement tax refund policies for outbound tourists and improve the inbound consumer experience to boost cross-border tourism and consumption [4]

Core Viewpoint - The article highlights the significant achievements and ongoing reforms of the Sci-Tech Innovation Board (STAR Market) in China over the past six years, emphasizing its role in supporting hard technology enterprises and fostering innovation in the capital market. Group 1: Achievements of the STAR Market - As of July 22, 2025, the STAR Market has 589 listed companies, raising a total of 9,257 billion yuan through IPOs and 1,867 billion yuan through refinancing, totaling over 1.1 trillion yuan [2][5][22]. - The STAR Market has become a vibrant platform for hard technology companies, with over 379 companies recognized as national "specialized and innovative" small giants, and 65 companies designated as "single champion" enterprises in manufacturing [5][22]. - The compound annual growth rates for revenue and net profit attributable to shareholders of STAR Market companies from 2019 to 2024 are 19% and 9%, respectively [5]. Group 2: Institutional Innovations - The STAR Market has implemented a series of institutional innovations, including the "1+6" policy measures aimed at enhancing the capital market's support for technological innovation and new productivity development [3][18]. - The introduction of the "STAR Growth Tier" and related reforms marks a new phase of precise support for technology innovation enterprises [3]. - The STAR Market has established a multi-dimensional regulatory framework that enhances the development environment for technology innovation companies [6]. Group 3: R&D Investment and Innovation - In 2024, the total R&D investment of STAR Market companies reached 168 billion yuan, which is over three times the net profit of the board, with a median R&D intensity of 12.6% [11][29]. - Approximately 30% of STAR Market companies have products or projects that are industry-first, and over 380 companies have products or technologies that meet international advanced standards [32]. - The STAR Market has seen significant contributions to the pharmaceutical sector, with 19 out of 20 companies listed under the fifth set of standards having their self-developed drugs or vaccines approved for sale [6][26]. Group 4: Ecosystem and Talent Attraction - The STAR Market plays a crucial role in facilitating a virtuous cycle among technology, industry, and capital, with over 60% of its founding teams comprising scientists or industry experts [14]. - Nearly 90% of STAR Market companies received venture capital investment before going public, indicating a strong early-stage investment environment [14]. - The STAR Market has developed a comprehensive index system, with 29 indices tracking its performance, and products tracking the STAR Market indices totaling nearly 260 billion yuan [14]. Group 5: Investor Returns and Corporate Governance - In 2024, 509 companies on the STAR Market disclosed plans to enhance quality and efficiency, with over 60% proposing cash dividend plans totaling 38.8 billion yuan [15]. - The STAR Market has seen a record number of share buybacks and increases in shareholding, with 470 instances of buyback plans amounting to nearly 38 billion yuan [15].

Core Insights - The Sci-Tech Innovation Board (STAR Market) has effectively served as a "testbed" for reforms in China's capital market, facilitating the listing of high-tech companies and fostering innovation in key industries [1][2][9] - Over the past six years, the STAR Market has evolved into a "demonstration field" for high-quality development, particularly in sectors like integrated circuits, biomedicine, and new energy [5][9] Group 1: Market Performance and Growth - As of now, there are 589 companies listed on the STAR Market, with a total of 9,257 billion yuan raised through IPOs and 1,867 billion yuan through refinancing, totaling over 1.1 trillion yuan [5] - The compound annual growth rates for revenue and net profit attributable to shareholders of STAR Market companies have reached 18.7% and 9.1%, respectively, over the past five years [5] - The STAR Market has seen the listing of 54 unprofitable companies and 20 companies under the fifth set of listing standards, indicating a diverse range of business models [5][10] Group 2: Innovation and R&D - The median R&D expenditure as a percentage of revenue for STAR Market companies is 12.6%, leading all A-share sectors, with 107 companies maintaining an R&D intensity above 20% for three consecutive years [6][10] - A total of 35 STAR Market companies rank first globally in their respective segments, while 124 companies hold the top position nationally [6] Group 3: Regulatory and Structural Reforms - The STAR Market has implemented a series of reforms, including a more inclusive listing standard and the introduction of a market maker system to enhance liquidity [10][12] - The recent "1+6" policy measures aim to deepen reforms, including the establishment of a growth layer and the introduction of pre-IPO review mechanisms for quality tech companies [10][11] Group 4: Future Outlook and Strategic Directions - The STAR Market is expected to continue enhancing its institutional inclusivity and adaptability, providing a more efficient growth environment for hard-tech enterprises [10][15] - The ongoing reforms are anticipated to support the integration of technology and industry innovation, contributing to the development of a multi-tiered capital market system [12][15]

Core Insights - The article highlights the recent establishment of various funds across multiple regions in China, focusing on sectors such as biotechnology, artificial intelligence, new energy, and advanced manufacturing [1][2][3][6][20]. Fund Establishments - Jiangsu Province has launched a green low-carbon industry fund with a scale of 2 billion yuan, targeting investments in green technologies and smart energy [2]. - Yunnan Province has registered a 5 billion yuan advanced manufacturing equity investment fund, aimed at transforming traditional industries and fostering emerging sectors [3]. - A new 10 billion yuan direct investment fund is being set up in Xiamen to support local SMEs in strategic emerging industries [5]. - Jiangsu's strategic emerging industry mother fund has surpassed 100 billion yuan in total scale, with 41 specialized funds established [6]. - A 10 billion yuan AI-focused fund has been announced in Ma'anshan, emphasizing investments in the AI industry [7]. - Cangzhou is initiating a 1 billion yuan green chemical industry fund to support the development of a high-end, green, and intelligent chemical industry [8][9]. - The national-level sub-fund in Ordos has a scale of 1.6 billion yuan, focusing on advanced manufacturing and information technology [10]. Policy Changes - The Ministry of Finance has introduced new regulations to optimize the long-term assessment mechanism for state-owned commercial insurance companies, shifting the focus to multi-period indicators to enhance the role of insurance funds in supporting the real economy [40][41][42].

Market Overview - A-shares experienced a slight increase on July 11, with the Shanghai Composite Index rising marginally, while the Shenzhen Component and ChiNext Index saw modest gains [1] - The total trading volume in the Shanghai and Shenzhen markets reached 1.71 trillion yuan, an increase of 218 billion yuan compared to the previous trading day, marking the highest trading volume since March 15 [1] Sector Performance - Strong performance was observed in sectors such as securities, rare earth permanent magnets, and CRO (Contract Research Organization), with several stocks hitting the daily limit [2][1] - Conversely, the banking sector faced a decline, with nearly 20 bank stocks, including Shanghai Pudong Development Bank and Changsha Bank, dropping over 2% [1][2] Institutional Insights - According to Jifeng Investment Advisors, the market is recovering due to rising expectations of a Federal Reserve interest rate cut, which enhances risk appetite in the domestic market [3] - China International Capital Corporation (CICC) noted that domestic power grid investment remains robust, with expectations for accelerated approvals in the third quarter, indicating a positive trend for the next few years [3] - CITIC Securities highlighted the stability of the banking sector's returns, supported by macroeconomic and regulatory policies, and suggested that trading funds will focus on undervalued stocks in the near term [3] Regulatory Updates - The Shenzhen Stock Exchange has revised the compilation scheme for the ChiNext Composite Index, introducing a monthly removal mechanism for stocks under risk warning and an ESG negative removal mechanism for stocks rated C or below [4] Industry Developments - The China Coking Industry Association held a market analysis meeting, where representatives from key coking enterprises agreed on the necessity to raise coking prices in response to current market conditions [5]