Core Viewpoint - The "Action Plan" for the Yangtze River Delta aims to establish a model for ecological protection and green development, marking a significant step towards building a "Beautiful China" [1] Group 1: Green Development - The plan emphasizes the deep integration of digitalization, intelligence, and greening in traditional industries such as petrochemicals, steel, and textiles to enhance production efficiency and reduce emissions [2] - Achieving standardized shore power facilities at regional docks will help reduce fuel emissions from ships during port stays, improving air quality [2] - The overall elimination of National III diesel trucks in the region is expected to significantly lower exhaust emissions in the transportation sector, contributing to better air quality [2] Group 2: Ecological Protection - The Yangtze River Delta faces challenges like water pollution despite its rich water resources; enhancing water ecological protection and restoration is crucial for sustainable development [3] - The plan sets targets for improving water ecological environments, with the construction rate of beautiful rivers and lakes reaching 44% and beautiful bays over 40% [3] Group 3: Reform and Innovation - The expansion of pollutant trading pilot programs is aimed at incentivizing companies to reduce emissions through market mechanisms, enhancing resource allocation efficiency [3] - Exploring financial support models for beautiful city construction will provide funding for ecological protection and green development projects, addressing funding shortages [3] Group 4: Challenges and Opportunities - The plan acknowledges challenges in regional collaborative governance, particularly in breaking down administrative barriers for deeper cooperation [3] - Traditional enterprises may face pressures related to technological upgrades and funding during the green transition, necessitating supportive government policies [3] Group 5: Overall Impact - The implementation of the "Action Plan" is expected to yield significant results in ecological protection and green development, positioning the Yangtze River Delta as a pioneering and exemplary region for "Beautiful China" initiatives, offering replicable experiences for other areas [4]

周二市场呈现低开冲高又回落的走势，投资者可以看到，早盘沪指低开17点于3947点，创业板低开14点 于3208点，市场低开以后进入淘气强调的3930-3950区间，最低3947点就支撑反弹，盘中翻红，午后最 高3979点确认高点区域共振反压以后遇阻回落，盘尾红绿盘震荡，各大指数涨跌都很小！最终沪指收跌 0.16点于3965点，创业板收涨20点于3242点！那么对于这种行情，投资者该如何看待和解读呢？ 通过今天市场盘面可以看到，两市上涨个股1840家，其中涨幅超过9%的个股84家，涨幅超3%的个股 423家；下跌个股3480家，其中跌幅超过9%的个股22家，跌幅超过3%的个股359家！通过个股数据看， 两市个股明显跌多涨少，空方占优明显，收盘各大指数都比午盘收的高，但两市个股不升反降，两市下 跌个股数量明显增多了，归根结底，午后石化双雄的勇猛上攻、有色板块的强势保持、券商板块的昙花 一现、大科技权重个股小试牛刀……都是指数死撑硬拉，个股明显回落的帮凶，这样的沪指十连阳格 局，又有什么意义呢？ 沪指10连阳至今，市场仅涨了3.67%，尤其最近几天，纯粹是死扛指数，个股每天跌多涨少，压根不是 正常的行情节奏，所以， ...

中化新网讯 12月22日，韩国产业通商资源部表示，截至12月19日，韩国蔚山、丽水、大山三大石化园 区内的韩国石化企业已向政府提交业务重组方案，主动提出削减裂解装置产能。有关审核工作即将开 始。该部表示，企业间需先共同拟定最终重组计划，随后由该部审核批准；届时还将推出涵盖金融、税 收、研发及监管豁免等方面的扶持政策，助力企业完成重组。 今年8月，受产能过剩、利润下滑影响，韩国石化企业已达成共识，计划将石脑油裂解装置产能削减最 高25%，折合年产能270万至370万吨。 目前，重组方案的具体细节尚未对外披露，仅有HD现代与乐天化学整合大山石化园区资产的计划获两 家公司官方确认。产业通商资源部透露，该大山整合计划正处于初步审核阶段，预计2026年1月与政府 扶持政策同步获批，债权人也在敲定对该计划的金融支持措施。韩国产业通商资源部部长金钟宽表 示："若这些方案得到切实执行，有望实现行业自主削减270万至370万吨产能的目标。今年是为成功重 组制定战略的筹备之年，明年则是决定成败的落地执行之年。" ...

当前中东石化产业投资呈现"增速放缓但质量提升"特征，与首轮投资热潮相比，近年投资增速回落，但 即将完工的项目均为世界级规模且聚焦高价值产业链，集中布局乙烯、丙烯及其衍生品价值链，构成产 能增长核心引擎。三大标杆项目分别落户阿联酋、沙特和卡塔尔，核心装置均为大型蒸汽裂解装置，乙 烯产能介于150万吨/年至210万吨/年之间。 阿联酋博禄公司位于阿布扎比鲁韦斯的博禄4号聚烯烃项目即将投产，目前完工率已超90%，首套装置 预计2025年底前投产。该项目核心为150万吨/年乙烷裂解装置，2026年底满负荷运行后将形成140万吨/ 年聚乙烯产能，同时配套交联聚乙烯及己烯-1装置完善产品矩阵。满负荷生产后，博禄聚烯烃总产能将 跃升至640万吨/年，2028年有望突破660万吨/年。作为阿布扎比国家石油公司(ADNOC)与北欧化工的合 资企业，博禄正推进与北欧化工合并组建博禄国际集团(BGI)，预计2026年一季度完成，届时聚烯烃铭 牌产能将达1360万吨/年。 当前受贸易逆风、供应过剩及终端需求疲软等因素影响，全球石化行业持续低迷，深陷4年的下行周 期。但中东石化生产商却逆势扩张，仍坚定向下游延伸，加速向高附加值产品链多 ...

再次，贯通"产销研用"转化通道。科技创新的最终价值在于创造市场需求与促进产业增长。企业要聚焦 市场需求高效转化科技成果，将技术优势转化为产品优势和产业优势，开辟价值创造的"新蓝海"。吉林 石化坚持以市场为导向，畅通"产销研用"一体化通道。在内部，其自有技术不仅在主体装置升级中广泛 应用，更成功输出至广东揭阳的ABS新基地，近30个高性能ABS及乙丙橡胶新牌号被快速开发并推向市 场。在外部，其与下游龙头企业共建"协同创新中心"，将客户需求深度前置融入研发，从传统供应商转 变为"创新合伙人"，驱动新材料产品产量实现数倍增长。 作者：吉林石化仓储中心 王慧乾 其次，攻坚关键核心技术。行业陷入"内卷"的根源在于技术雷同。因此，企业要结合自身实际，聚焦产 业链痛点与"卡脖子"环节，进行精准、差异化的核心技术攻关，将科技资源转化为难以复制的市场竞争 优势。吉林石化将研发力量精准投向合成树脂和合成橡胶两大领域。在合成树脂领域着力打造ABS原创 技术策源地，研发的"无调浆凝聚工艺技术"解决了行业共性难题，产品成本显著下降;在合成橡胶领域 自主开发的新型钒系催化剂帮助高性能乙丙橡胶产品叩开高端汽车市场的大门，极大提升了企业竞争 ...

Group 1 - The core viewpoint of the articles emphasizes the rapid development and high-level opening-up of the Hainan Free Trade Port, particularly through the achievements of Yangpu in Danzhou as a model area for the Free Trade Port [1][2]. - The Danzhou Yangpu Economic Development Zone aims to expand high-level foreign openness and implement Free Trade Port policies, focusing on the development of a dual hub port and enhancing port infrastructure [2][3]. - The construction of a modern industrial system is prioritized, with plans to develop advanced manufacturing, emerging industries, and modern agriculture, including the establishment of a large petrochemical industry and the promotion of green and intelligent development [3][5]. Group 2 - The Yangpu International Container Terminal has achieved a record throughput of over 3 million standard containers, indicating significant growth and the potential for further expansion in the upcoming "14th Five-Year Plan" period [4]. - Future plans include enhancing the terminal's construction, expanding the shipping network, and transitioning towards green and smart operations to support the Free Trade Port's development [4]. - Danzhou will also focus on rural revitalization and improving public services, ensuring that the local population benefits from the Free Trade Port's development [5].

同时，在苏商银行特约研究员武泽伟看来，此次强调"坚持全国一盘棋""坚决反对'内卷式'竞争"的核心 在于，文章从国家整体效能最大化的战略高度，统筹规划关键产业的发展方向与空间布局。 12月26日，国家发展改革委在官方微信号上刊发题为《大力推动传统产业优化提升》的文章。国家发改 委产业发展司在文中介绍了"十五五"时期传统产业优化提升的着力点。其中，文章提到，对钢铁、石化 等原材料产业，关键在于平衡供需、优化结构。对新能源汽车、锂电池、光伏等"新三样"产业，关键在 于规范秩序、创新引领。"十五五"时期，要综合整治"内卷式"竞争，维护公平竞争环境，提高行业集中 度，打造全球技术领先高地。 12月29日，国家发改委创新和高技术发展司在《因地制宜发展新质生产力》一文中，再次强调"坚决反 对'内卷式'竞争"，并将其与"优化重大生产力布局，统筹谋划、系统推进重点领域发展，防止一哄而 上、重复建设"直接关联。 "内卷式"竞争，作为一种低效率的不公平竞争，让不少行业、企业深受其害，也影响到经济高质量发 展。坚决反对"内卷式"竞争，并非单纯限制发展，而是为了增强发展新质生产力的整体效能。 科方得智库研究负责人张新原表示，此次国家发 ...

Group 1: New Quality Productive Forces - In 2025, China focuses on technological innovation and industrial upgrading to cultivate new quality productive forces, enhancing the foundation for high-quality development [2] - Traditional industries are crucial for accelerating the development of new quality productive forces, with the Ministry of Industry and Information Technology releasing action plans for ten key industries [2] - Strategic emerging industries and future industries are the main battlegrounds for cultivating new quality productive forces, with significant growth in sectors like new energy vehicles, photovoltaics, and quantum technology [2][3] Group 2: Expanding Domestic Demand - Expanding domestic demand is a strategic choice for China to respond to economic changes and promote high-quality development, with policies implemented to stimulate consumption and investment [4] - Consumer markets are recovering, with significant growth in retail sales of home appliances and communication equipment, with year-on-year increases of 14.8%, 18.2%, and 20.9% respectively [6] - Investment in emerging sectors is also strong, with notable increases in manufacturing and renewable energy investments, such as a 15.3% growth in automotive manufacturing [6] Group 3: High-Level Opening Up - Expanding high-level opening up is essential for China's high-quality development, providing stability to the uncertain global economy [7] - China's foreign trade resilience is improving, with policies promoting service exports and green trade, reflecting a commitment to innovative leadership [7][8] - Trade with major partners like ASEAN has seen growth, with a year-on-year increase of 8.5% in trade volume [8] Group 4: Risk Mitigation - In 2025, China continues to address key risk areas to ensure high-quality development, with measures in place to manage local government debt and mitigate financial risks [9] - The real estate sector has seen successful completion of housing delivery tasks, with policies aimed at stabilizing the market and supporting housing supply [9] Group 5: Appropriate Monetary Easing - Since 2025, a moderately loose monetary policy has been in effect, with social financing scale increasing significantly, reaching 33.39 trillion yuan in the first eleven months [10] - The structure of credit has improved, supporting key sectors and strategic economic transformations, with notable growth in technology and green loans [11] Group 6: Green Transition - China has introduced numerous policies for green low-carbon transition and ecological civilization construction, achieving significant progress in various fields [14] - The energy structure is shifting towards non-fossil sources, with ambitious targets for renewable energy installations [14][15] - The green economy is thriving, with over 218.7 million existing green economy-related enterprises, indicating sustained vitality in the sector [14]

Core Viewpoint - The State Council Tariff Commission has announced the 2026 tariff adjustment plan, effective from January 1, 2026, which will modify the import tariff rates and categories for certain goods, impacting various industries. Group 1: Impact on Industries - The adjustment of tariffs on bio-aviation kerosene indicates a significant potential for the petrochemical industry's green and low-carbon transformation, with production increasing fourfold from January to October 2025 compared to 2024 [1]. - The inclusion of tariffs for intelligent bionic robots and cleaning robots will assist industries and companies in accurately grasping trade data and assessing overseas market trends [1]. - Targeted adjustments to tariffs on urgently needed equipment and intermediate products, including important recyclable raw materials, will help reduce costs and support the development of relevant national industries [1].

经有权国资主管单位批准，中石化股份拟按与公开挂牌确定的其他战略投资者同等的认购价格，以非公 开协议形式对碳纤维公司进行增资，认购碳纤维公司的新增注册资本不超过人民币3亿元。本次增资完 成后，中石化股份所占碳纤维公司的股权比例不超过25%。 智通财经APP讯，上海石油化工股份(00338)发布公告，董事会于2025年12月29日审议并批准本公司的全 资附属公司碳纤维公司拟同步通过非公开协议增资及公开挂牌新增注册资本人民币6亿元。本次增资价 格将以依照国有资产监督管理相关规定完成相应备案程序的评估值为依据，结合公开挂牌结果确定。 剩余拟增加的碳纤维公司的注册资本不超过人民币3亿元，将通过公开挂牌由其他战略投资者认购。本 次增资拟公开征集不超过3家意向战略投资者，其中包括不超过2家产业投资者及1家财务投资者，意向 战略投资者须为在中国境内(不含港、澳、台地区)依法注册并有效存续的企业法人，具有良好的财务状 况、支付能力及商业信誉，支持碳纤维公司的战略规划、经营理念、法人治理结构，并满足其他碳纤维 公司在公开挂牌公告中规定的资格条件。 碳纤维公司有权对战略投资者的投资金额及持股比例进行调整，并以最终各方签署的《增资协 ...