锚定"现代田园城、幸福金太仓"的城市总定位，太仓坚持一张蓝图绘到底。未来五年，太仓将聚焦"提速扩量、提质增效"两个导向，坚定不移做深做 实"四篇文章"：更高水平打造融入上海桥头堡、以港强市枢纽城、对德合作示范区、城乡和美幸福地。这幅宏图，建立在"十四五"期间打下的坚实产业基 础和取得的卓越发展成就之上。 初冬时节，长江之畔的江苏省太仓市，处处涌动着发展的活力与丰收的喜悦。从机声隆隆的智能制造车间，到星罗棋布的德企园区；从集装箱穿梭如织 的"万里长江第一港"，到诗意栖居的现代田园乡村；从直冲云霄的航空航天产业梦想，到赋能千行百业的人工智能新场景……这座以"天下粮仓"为历史底 蕴的城市，正以奋进之姿，全力冲刺"十四五"收官，并擘画着"十五五"高质量发展的崭新蓝图。 "3+3+X"体系蓬勃，锻造经济增长"关键担当" 产业体系的现代化是中国式现代化的核心。作为构建现代化产业体系的"主心骨"，"十四五"以来，太仓精心培育的"3+3+X"产业体系蓬勃发展，成为经济 保持高速增长的"关键担当"。 制造业是压舱石。"十四五"期间，太仓全市规上工业总产值年均增长率达9%。在这片热土上，传统产业、新兴产业、未来产业协同共进。全球 ...

12月21日下午，由上海国有资本投资有限公司与上海交通大学联合主办的"上海交大 未来产业科 创策源大会"在大零号湾上海交通大学闵行校区成 功举办。 来源：孚腾资本 每日｜荐读 论坛： 新一批敲钟人，已在路上 荐读： 重新发现香港：科创时代的新蓝图 榜单： 全国首只AIC产业母基金来了 热文： 投资人"忙疯了" 会上，上海国投孚腾资本汇报了上海交大大零号湾科技创新基金阶段性工作报告，该基金于2024年12月27日正式开展投资运营，充分发挥上海交大 校方的学科优势及国投的产业资源，覆盖早期科技成果转化项目，基金部分投资收益将反哺学校，用于支持科研、人才培养与创新孵化，着力构建可 持续发展的创业生态。目前，已成功投资了10个由顶尖学者领衔的"交大系"优质项目，投资方向覆盖集成电路、生物医药、人工智能、高端装备、 先进材料等前沿领域，为科技成果转化注入强劲动能。 仪式环节中，由上海交大、上海国投公司、中国银行上海分行等共同参与的"科创雨林创新生态计划"、"上海交大未来产业母基金二期"相继启动， 多方将共同合作，加速提升科技成果转化活跃度及技术转移能力，形成全面创业创新氛围，打造高校创新生态圈。 ...

Core Viewpoint - The Strategic Emerging Industries PMI (EPMI) for December 2025 decreased by 3.6 points to 49.1, which is higher than the levels in December 2022 and 2023 but lower than the levels in other years since 2014 [1][4][7]. Summary by Sections Overall EPMI Performance - The EPMI's absolute level of 49.1 is the third lowest since data collection began in 2014, indicating a relative decline compared to historical averages [7][8]. - Among seven major sub-industries, three are above the expansion threshold of 50, while four are below, consistent with November's performance [4][8]. Key Sub-Indicators - Production volume, product orders, and export orders fell by 3.5, 5.4, and 3.0 points respectively in December [9]. - The demand decline was faster than production, leading to a significant increase in the production-to-order ratio, which reached 4.8 in December, compared to average values from 2021 to 2025 [9][10]. - The sales price index rose by 0.2 points, with notable increases in the new energy and new energy vehicle sectors, which saw price increases of 3.6 and 1.8 points respectively [9][11]. - The difficulty of obtaining loans increased by 2.9 points, indicating a slightly tighter credit environment for emerging industries compared to November [9]. Sector Performance - The biotechnology, new energy vehicles, and next-generation information technology sectors maintained high levels of prosperity, with biotechnology seeing a 2.7-point increase in its prosperity index in December [14]. - The new energy and new energy vehicle sectors experienced a decline in prosperity compared to October, but remained among the top three sectors [14]. - Other sectors such as high-end equipment, new materials, and energy conservation and environmental protection are in a contraction phase [14][15]. Future Outlook - The EPMI is expected to continue reflecting seasonal trends, with a slight decline anticipated in the manufacturing PMI for December, as historical data shows a tendency for decreases during this period [18]. - The overall economic environment remains subdued, with nominal growth stabilizing due to supply-side policies, while actual growth remains to be validated in the context of investment recovery [21].

Group 1 - The core viewpoint of the article highlights the integration of human resources services with the manufacturing industry in Hebei Province, with Tangshan and Baoding selected as pilot cities for this initiative [1][2] - The Ministry of Human Resources and Social Security has designated 39 cities, including Beijing and Tianjin, as pilot cities for the integration of human resources services and manufacturing [1] - The manufacturing sector is emphasized as a foundation for national strength, with a focus on accelerating the development of a strong manufacturing country as essential for high-quality growth [1] Group 2 - The 2025 talent demand directory for the manufacturing sector in Hebei is the first of its kind, reflecting the needs of over 3,206 manufacturing companies and covering more than 30,000 job positions across key industries such as advanced steel, green chemicals, high-end equipment, and new materials [2] - The 2025 talent demand directory for private enterprises in Hebei aims to guide talent flow towards private companies and improve the efficiency of human resource utilization, collecting over 300,000 recruitment information entries from 3,286 representative private enterprises [2] - A cooperation agreement has been signed among the human resources departments of Beijing, Tianjin, and Hebei to jointly build human resources service industrial parks, enhancing collaboration in talent services and promoting the integration of human resources services with manufacturing [2][3] Group 3 - The establishment of the regional human resources service industrial park in Langfang has led to significant outcomes, including hosting over 260 recruitment and competition events, serving 3,657 enterprises, generating cumulative revenue of 3.762 billion, and delivering over 50,000 talents to the region [3]

Core Insights - The Shanghai Stock Exchange (SSE) has seen a significant increase in refinancing activities in 2025, with nearly 690 billion yuan raised, supporting the optimization of capital structures and enhancing technological innovation and industrial upgrades [1][2]. Group 1: Refinancing Statistics - As of December 19, 2025, the SSE has accepted 114 companies for refinancing, with 99 registered and 94 issued, raising a total of 687.9 billion yuan [2]. - In the fourth quarter of 2025, the SSE expedited the refinancing review process, with 37 new projects approved and the average review cycle reduced to approximately 2 months [4]. Group 2: Review Process Improvements - The efficiency of the refinancing review process has improved significantly in 2025, particularly after the implementation of the "1+6" policy measures on June 18, which enhanced the review speed for companies on the Sci-Tech Innovation Board [3]. - Companies like Lingrui New Materials and Microchip Biotech have experienced review times of less than 70 days for their refinancing projects, indicating a notable acceleration in the process [3]. Group 3: Simplified Procedures - The simplified refinancing procedure has emerged as a "fast track," allowing companies to quickly raise funds without extensive exchange reviews, significantly enhancing financing efficiency [5]. - For instance, Zhimin Technology successfully raised 208 million yuan through this simplified procedure for research and development in unmanned equipment and commercial aerospace [5]. Group 4: Support for High-Tech Companies - The "light asset, high R&D investment" standard has been instrumental in supporting the growth of high-tech companies, allowing them to bypass certain restrictions and increase their financing capabilities [8]. - Since the introduction of this standard in October 2024, 14 companies on the Sci-Tech Innovation Board have utilized it, collectively seeking 35.12 billion yuan, which represents 38% of the companies and 76% of the financing amounts in 2025 [8][9]. Group 5: Diverse Company Profiles - Companies adopting the "light asset, high R&D investment" standard span all five listing criteria of the Sci-Tech Innovation Board, showcasing the board's inclusive nature [9]. - Notable companies include Lexin Technology and Cambricon, which have successfully completed their financing under this standard, highlighting its effectiveness in facilitating capital access for innovative firms [9].

Core Insights - The refinancing scale in the Shanghai Stock Exchange (SSE) for 2025 has reached nearly 690 billion yuan, significantly supporting the optimization of capital structures and enhancing technological innovation and industrial upgrades for listed companies [1][2]. Group 1: Refinancing Efficiency - The efficiency of refinancing reviews in the SSE has improved significantly in 2025, with a notable acceleration in the review process following the implementation of the "1+6" policy measures on June 18 [3]. - As of December 19, 2025, the average review cycle for refinancing projects has been compressed to around 2 months, with some projects, such as those from Xianghe Industrial and Haitian Flavoring, being approved in as little as 40 days [3]. - The SSE has enhanced communication and consultation efficiency, further shortening the review cycle by actively reminding and responding to major issues during the review process [3]. Group 2: Simplified Procedures - The simplified refinancing procedure has emerged as a "fast track" for refinancing, allowing companies to autonomously decide on fundraising purposes without needing exchange review, thus significantly improving financing efficiency [4]. - Recently, Zhimin Technology successfully raised 208 million yuan through the simplified procedure for research and industrialization projects in the fields of unmanned equipment and commercial aerospace [4]. - The simplified procedure has enabled companies to complete financing within the year, addressing urgent funding needs and enhancing certainty in financing [4]. Group 3: Light Asset and High R&D Standards - The "light asset, high R&D input" standard has empowered high-tech companies to meet their funding needs for research and development, with 14 companies in the SSE adopting this standard since its introduction in October 2024 [6]. - These companies have collectively planned to raise 35.12 billion yuan, representing 38% of the number of companies and 76% of the total financing amount in the SSE for 2025 [6]. - The standard has effectively supported the financing development of high-growth "hard tech" enterprises, with companies like Cambricon and Dizhe Pharmaceutical successfully raising funds under this standard [7]. Group 4: Diverse Listing Standards - Companies utilizing the "light asset, high R&D input" standard have demonstrated the diverse and inclusive characteristics of the SSE, with applicants spanning all five listing standards [8]. - Notable companies include Lexin Technology and Zhongke Xingtu, which have successfully registered under various listing standards, showcasing the adaptability of the SSE to different business models [8].

人民币要变得更"值钱"了？ 这不是猜测，而是一位懂经济的前市长给出的清晰判断。 黄奇帆最近提出，今后十年，人民币对美元汇率可能会从现在的7.0左 右，逐步升值到6.0左右。 这意味着，同样数量的人民币，未来在国际上能换到更多的美元。 这不仅仅是数字游戏，它关乎我们每一个人的钱包。 出国留学、海淘购物、企业进口原材料，成本都可能因此降低。 但更重要的是，这股信心的底气从何 而来？ 黄奇帆将答案指向了中国经济最坚实的底盘——我们的制造业。 这不是凭空而来的预言，而是一系列深刻变革正在发生的自然结果。 过去十年，中国制造业经历了一场静悄悄但意义深远的蜕变。 最直观的表现是份额，中国的工业增加值已经占到全球总量的32%。 这形成了一个"三个三分 之一"的全球格局：中国制造约占三分之一，所有发达国家加起来占三分之一，其余发展中国家占三分之一。 在近现代工业史上，只有英国和美国曾长期维 持过全球工业三分之一比重的地位，中国是第三个。 这个份额的背后，是结构的根本性优化。 出口商品的面貌已经焕然一新。 如今，每十件中国出口的商品中，有六件是高端装备和电子产品，工业制成品在 总出口中的占比高达90%。 我们熟知的汽车、造船、 ...

日前，天津证监局对外公布了"十四五"期间天津资本市场发展的相关数据。数据显示，天津资本市场以 金融创新服务科技创新和产业创新，促进资本要素与科创资源、产业需求有效对接，为实体经济提供坚 实有力的硬核支撑。 "含科量""含新量"持续提升 值得注意的是，资本市场与科技创新深度融合，"含科量""含新量"持续提升。多部门协同加大对科技型 企业培育孵化力度，鼓励上市公司专注研发强化科技创新驱动，引导各类企业加大创新品种债券运用力 度。天津辖区14家公司在A股发行上市，其中近八成为科技型企业。 "十四五"期间，6家上市公司借助重大资产重组出清低效资产转入新兴产业或拓展第二增长曲线，近五 分之一上市公司通过再融资扩大生产规模或投资产业链薄弱环节。2024年9月份"并购六条"发布后，天 津辖区上市公司并购重组金额超260亿元。目前，天津辖区40家上市公司隶属天津市重点产业链企业， 总市值占比近七成。其中，23家为细分产业链链主企业，3家为国家级链主企业。上市公司已成为高端 装备、信创、生物医药等产业链的主力军和引领者。 总体来看，天津辖区境内上市公司量质双升，总数已达71家，较"十三五"期末同比增长18%；总市值破 1.66 ...

12月21日下午，在上海市科学技术委员会、上海市国有资产监督管理委员会、上海市教育委员会及闵行区人民政府的指导下，由上海国有资本投资 有限公司与上海交通大学联合主办的"上海交大未来产业科创策源大会"在大零号湾上海交通大学闵行校区成功举办。本次大会以"交大策源·链接未 来"为主题，聚焦科技策源与资本赋能，汇聚院士专家、产业领袖、金融资本等百余位嘉宾，共同探索科技成果产业化路径，谋划未来产业新生态。 上海市委常委、副市长陈杰，中国科学院院士、上海交通大学校长、党委副书记 丁奎岭，市政府副秘书长夏科家，闵行区委副书记、区长吴强，上 海国投公司党委书记、董事长袁国华，上海交通大学常务副校长奚立峰，上海国投公司党委副书记、总裁戴敏敏，中国银行上海市分行党委书记、行 长陈志能，市国资委副主任、一级巡视员陈东，市科委副主任屈炜，市教委副主任赵震，上海交通大学党委副书记胡薇薇，上海国投公司党委委员、 副总裁陆雯，中国银行上海市分行副行长王孟颖等出席会议。会议由上海交通大学党委常委、副校长曾小勤主持。 01 致辞环节 丁奎岭校长表示，2026年，上海交大即将迎来建校130周年，也将开启"十五五"发展的新征程，未来五年也一定会成 ...

Core Insights - The refinancing scale in the Shanghai Stock Exchange (SSE) has reached nearly 690 billion yuan in 2025, significantly supporting the optimization of capital structures and enhancing technological innovation and industrial upgrades for listed companies [1] Group 1: Refinancing Efficiency - The efficiency of refinancing review in the SSE has improved significantly in 2025, with a notable acceleration following the implementation of the "1+6" policy measures for the Sci-Tech Innovation Board on June 18 [2] - As of December 19, 2025, the review cycle for refinancing projects has been compressed to around 2 months, with some projects approved in as little as 40 days [3] Group 2: Simplified Procedures - The simplified procedure for refinancing has proven effective, allowing companies to quickly raise funds without extensive review processes, thus enhancing financing efficiency [4] - Companies like Zhimingda have successfully utilized the simplified procedure to raise 208 million yuan for research and development projects, addressing urgent financing needs [4] Group 3: Support for High-Tech Enterprises - The "light asset, high R&D investment" standard has been adopted by 14 companies on the Sci-Tech Innovation Board, allowing them to raise a total of 35.12 billion yuan, thus facilitating innovation and growth [6][7] - This standard has become a primary choice for high-growth "hard tech" companies, with significant participation from sectors such as new-generation information technology and biomedicine [7][8]