Economic Growth and Industrial Structure - During the "14th Five-Year Plan" period, Yunfu's economic growth has significantly accelerated, with the GDP surpassing three hundred billion levels, and per capita GDP rising from 18th to 16th in the province from 2021 to 2024 [4] - The city has added approximately 30% to its economic volume, 30% more industrial enterprises, 50% increase in industrial output value, 70% increase in business entities, and 80% increase in total electricity consumption [4] - The industrial structure is continuously optimizing, focusing on the real economy and manufacturing, with three major trillion-yuan industrial clusters being developed: metal manufacturing, green building materials, and modern agriculture [4] Industrial Upgrading and Innovation - Yunfu is promoting high-end, intelligent, and green transformation of industries, with significant developments in metal manufacturing, green building materials, and emerging strategic industries such as biomedicine and electronic information [7] - Over 60% of industrial enterprises have completed digital transformation, showcasing projects like the first fully automated production line for stainless steel products [7] - The city has established a green manufacturing system, creating several national and provincial-level green factories, maintaining high levels of industrial water reuse and solid waste utilization [7] Open Economy and Infrastructure Development - Yunfu is enhancing its high-level openness by implementing strategies to connect with the Greater Bay Area and RCEP, with major transportation projects completed [8] - The city has signed 177 new projects with a total investment of nearly 50 billion, actively attracting industries from the Pearl River Delta [8] - The establishment of a cross-border e-commerce clearance center marks a breakthrough in cross-border e-commerce [8] Urban-Rural Coordination and Ecological Development - The city is advancing urban-rural coordination through the "Hundred Million Project," achieving full coverage of provincial industrial parks in counties [9] - The forest coverage rate has increased to 68.78%, and the water quality of the Xijiang River remains excellent, reflecting the city's commitment to ecological development [9] - Yunfu has made significant progress in converting ecological resources into economic value, including innovative green finance initiatives [9] Social Welfare and Quality of Life - During the "14th Five-Year Plan," Yunfu's social welfare spending exceeded 100 billion, accounting for over 70% of fiscal expenditure [10] - The city has introduced quality educational resources, expanded healthcare coverage, and created 95,000 new urban jobs, with per capita disposable income growing at an annual rate of 6.48% [10] - These efforts have contributed to Yunfu being recognized as one of the "most livable cities," reflecting a people-centered development approach [10]

Core Insights - The low-altitude economy is gaining strategic importance in major economic provinces, with a focus on developing a trillion-level market [2] - Shanghai aims to achieve a core industry scale of approximately 80 billion yuan by 2028, establishing a complete industrial chain for low-altitude new aircraft [2] - The Guangdong-Hong Kong-Macau Greater Bay Area is also experiencing rapid growth in low-altitude economy, with significant advancements in drone logistics and cross-city routes [2] Industry Overview - The low-altitude economy refers to activities conducted below 1,000 meters using manned and unmanned aircraft for various services [4] - The China Civil Aviation Administration predicts that the market size of the low-altitude economy will reach 1.5 trillion yuan by 2025 and exceed 3.5 trillion yuan by 2035 [4] - The introduction of supportive policies and the establishment of a classification system for low-altitude economy are accelerating its development [4][5] Technological Advancements - Guangdong's low-altitude economy has reached a scale of over 100 billion yuan, with more than 2,000 manufacturers of low-altitude flying devices [5] - Domestic companies have registered over 1,081 related enterprises and produced more than 5.29 million units of low-altitude equipment, showcasing a robust growth trajectory [5] Practical Applications - Low-altitude economy applications are becoming part of daily life, such as drone delivery services in Shenzhen and air delivery in Nanjing [7] - Emergency services are also benefiting, with drones reducing transport time for critical supplies from one hour to 18 minutes [7] International Expansion - Low-altitude equipment is emerging as a new growth point in foreign trade, with significant overseas orders for electric vertical takeoff and landing aircraft [8] - The industry is not only exporting products but also promoting internationalization of the entire supply chain through technology transfer and collaborative standards [8]

Core Insights - The low-altitude economy is gaining strategic importance in major economic provinces, with a focus on developing a trillion-yuan market [1][3] - Shanghai aims to achieve a core industry scale of approximately 80 billion yuan by 2028, establishing a complete industrial chain for low-altitude new aircraft [1] - The Guangdong-Hong Kong-Macau Greater Bay Area is also experiencing rapid growth in low-altitude logistics and drone operations, indicating a burgeoning trillion-yuan market [1] Industry Development - The low-altitude economy refers to activities conducted below 1,000 meters using manned and unmanned aircraft, with a projected market size of 1.5 trillion yuan by 2025 and over 3.5 trillion yuan by 2035 in China [3][4] - The National Development and Reform Commission has released a classification for low-altitude economy, defining its scope and categorizing it into four major industries [3][4] Technological Advancements - Guangdong's low-altitude economy has reached a scale of over 100 billion yuan, with more than 2,000 manufacturers of low-altitude flying devices [4][5] - Domestic low-altitude flying devices have seen significant advancements, with over 1,081 registered companies and more than 5.29 million units of equipment [5][6] Practical Applications - Low-altitude economy applications are becoming part of daily life, such as drone delivery services in Shenzhen and air delivery systems along the Yangtze River in Nanjing [6] - Emergency services are also benefiting, with drones reducing delivery times for critical supplies from one hour to 18 minutes in Tianjin [6] International Expansion - The low-altitude equipment sector is emerging as a new growth point in foreign trade, with significant international orders for electric vertical takeoff and landing aircraft [7] - Companies in Shenzhen are advancing from product exports to a more integrated approach involving technology transfer and international collaboration [7]

Core Insights - The "Action Plan" aims for Yunnan Province to achieve an industrial output value exceeding 2 trillion yuan by 2027, with a focus on developing a modern industrial system and addressing key industry challenges [1][2]. Group 1: Industrial Development Goals - The plan sets a target for the industrial output value to surpass 2 trillion yuan by 2027, with a 3% increase in the share of non-tobacco and non-energy industries within the total industrial output [1]. - By 2030, Yunnan aims to establish itself as a significant base for clean energy, strategic non-ferrous metal industries, modern ecological agriculture, and a world-renowned tourism destination [1]. Group 2: Key Industry Focus Areas - The "Action Plan" outlines a "4+5+6" industrial development strategy, focusing on four resource-based industries (green aluminum, silicon photovoltaic, phosphorus chemical, and non-ferrous and precious metals), five advantageous industries (highland characteristic agriculture, cultural tourism, green energy, tobacco, and modern logistics), and six breakthrough areas (biomedicine, new materials, advanced equipment manufacturing, digital economy, low-altitude economy, and biomanufacturing) [2]. - Yunnan's energy sector is highlighted as a key strength, with plans to increase clean energy capacity to over 90% of total installed capacity by 2027, aiming for 180 million kilowatts of installed power by the end of 2025 [2]. Group 3: Technological and Agricultural Innovation - The plan emphasizes the integration of technological innovation with industry, focusing on enhancing strategic emerging industries and supporting biopharmaceutical development and modernization of traditional medicine [2]. - In agriculture, the strategy includes enhancing the quality and efficiency of highland characteristic agriculture through a comprehensive approach that integrates technology, sustainability, quality, and branding [2]. Group 4: Tourism Development - Yunnan is leading the initiative for "Travel and Residence in Yunnan," aiming to strengthen brand promotion and innovate product offerings to enhance its tourism appeal [3].

Core Insights - The low-altitude economy is entering a significant order year in 2025, highlighted by major orders from companies like Xiaopeng Huitian and Volant Aviation, marking a record in overseas bulk orders for flying cars [1][9] - Financing in the low-altitude sector is increasingly characterized by "plus" rounds, indicating a trend where startups are seeking additional funding to maintain valuations amid a cooling investment climate [2] - The financing pace has slowed in 2025, but the proportion of billion-level projects has increased, showcasing a "head effect" where leading companies attract more investment [3] Financing Trends - Zero Gravity Aircraft Industry completed an A++++ round of financing amounting to nearly 300 million RMB, while Volant Aviation also secured similar funding, indicating a trend of startups relying on external financing during product certification stages [2][5] - Volant Aviation's financing history shows a series of successful rounds, including a B round of several hundred million RMB led by Huaying Capital and a B+ round shortly after, demonstrating strong investor interest [3][4] - Zero Gravity Aircraft has completed at least eight rounds of financing, with a total amount nearing 700 million RMB, supported by various investment institutions [5][6] Order Developments - In the Middle East, significant orders have been placed, including 600 flying cars by Xiaopeng Huitian and 350 eVTOLs by Times Technology, reflecting the region's favorable regulatory environment for new technologies [9][10] - Domestic orders are also on the rise, with Volant Aviation securing orders worth 3 billion RMB for 120 aircraft from Agricultural Bank of China Leasing and EHang announcing orders for 50 EH216-S drones [10][11] Policy and Industry Support - Beijing and Shanghai have introduced action plans to boost the low-altitude economy, aiming for substantial industry growth by 2027, with Beijing targeting a scale of 100 billion RMB and Shanghai 50 billion RMB [11][12] - Shenzhen has enacted the first special regulations for promoting the low-altitude economy, establishing a 2 billion RMB fund to support the entire industry chain, including R&D and manufacturing [12]

Group 1 - The company, Zhongyou Capital, has confirmed its subsidiary, Kunlun Capital, is actively investing in the commercial aerospace sector, specifically in companies like Hongqing Technology and Aerospace Times Feipeng [2] - Kunlun Capital is implementing a "fund + direct investment" dual-drive strategy, focusing on investments in new energy, new materials, digital intelligence industries, and low-altitude economy [2]

证券日报网讯1月14日，中设股份（002883）在互动平台回答投资者提问时表示，近年来，公司持续布 局低空经济，拓展新的增长点。2025年上半年，公司抢抓低空经济战略机遇，完成《无锡市低空经济基 础设施规划研究》。旨在构建支撑无锡低空经济发展的基础网络体系，为低空物流、载人运输、城市管 理等多样化场景落地提供关键支撑。基于基础设施规划研究，深入开展低空航线规划及商业化应用场景 设计研究，并积极构建产业生态圈，与多家单位开展深度交流与合作。未来，公司将持续积极探索在低 空经济领域的发展机遇。 ...

Economic Growth and Industrial Development - During the "14th Five-Year Plan" period, Yangjiang's economic total crossed three significant thresholds of 140 billion, 150 billion, and 160 billion yuan, becoming the top power energy city in the province with an installed capacity exceeding 24.29 million kilowatts, accounting for about one-tenth of the province's total [1] - Yangjiang has established a modern industrial system characterized by "4+4+X," with fixed asset investment growth rates ranking first in the province for 2021, 2023, and 2024, and a cumulative investment increase of over 30% compared to the "13th Five-Year Plan" [1] - The number of industrial enterprises with over 100 billion yuan in output has increased to seven, and the number of "specialized, refined, distinctive, and innovative" enterprises has grown nearly 12 times since the end of the "13th Five-Year Plan" [1] Infrastructure and Trade Integration - Yangjiang actively integrates into the Guangdong-Hong Kong-Macao Greater Bay Area by establishing a comprehensive transportation system, including "airports + dual high-speed rail + high-speed road network + a major port," facilitating a "one-hour living circle" within the Bay Area [2] - The city has expanded its international connections to 178 countries and regions, with average annual growth rates of 7.4% in foreign trade imports and exports, and 28.4% in actual foreign investment during the first four years of the "14th Five-Year Plan" [2] - Yangjiang has implemented 460 key reform tasks across ten major areas, resulting in over 100 national and provincial reform pilot projects, with a net increase of over 100,000 market entities in five years, surpassing a total of 270,000 [2] Cultural and Ecological Development - Yangjiang is promoting its cultural heritage by participating in the joint application for the "Maritime Silk Road" World Cultural Heritage and establishing the Guangdong Provincial Underwater Cultural Heritage Protection Center [3] - The city has developed the Hailing International Tourism Island as a leisure and vacation destination, with the number of visitors from Hong Kong and Macau increasing over 20 times compared to the "13th Five-Year Plan" period [3] - Yangjiang has made significant progress in ecological construction, being recognized as a national forest city and an international garden city, with nearly 80% of fiscal spending allocated to public welfare, enhancing the quality of life for residents [3]

Core Insights - The low-altitude economy is entering a significant order year, with notable contracts signed in the Middle East and domestic markets, indicating a growing demand for eVTOL aircraft [2][9][10] - Financing in the low-altitude sector has slowed down, but the proportion of billion-level projects is increasing, showcasing a "head effect" in the industry [3][4] - The industry is transitioning into a phase where technology and order validation are crucial, moving towards a deflationary cycle [2] Financing Trends - In 2025, the low-altitude industry saw a decrease in financing pace, with 23 disclosed financing events in October alone [3] - Volant Aviation completed several rounds of financing, including a B round and a B+ round, raising several hundred million RMB, with participation from various venture capital firms [3][4] - Zero Gravity Aircraft announced a 300 million RMB A++++ round financing, indicating strong investor interest despite a general slowdown in the sector [5][6] Major Orders and Contracts - In October 2025, XPeng Huitian signed a record-breaking order for 600 flying cars in the Middle East, while other companies like Peak Flying and Times Technology also secured significant contracts [2][9] - Domestic orders include Volant Aviation's agreement with Nongyin Jinzu for 10 confirmed orders and 110 intention orders, totaling 3 billion RMB [10] - The Middle East's flexible regulatory environment and strategic initiatives are driving eVTOL orders, with significant contracts from companies like AutoCraft and Peak Flying [9] Regional Development Initiatives - Beijing aims to elevate its low-altitude economy to a scale of 100 billion RMB by 2027, supported by local universities and research institutions [11][12] - Shanghai's plan includes establishing a complete industrial system for low-altitude aircraft, targeting a core industry scale of over 50 billion RMB [12] - Shenzhen has introduced regulations and a 2 billion RMB fund to promote low-altitude economic development, fostering a comprehensive industry chain [12]

Core Insights - The Guangzhou Municipal Committee of the Chinese Kuomintang (民革) emphasizes the importance of focusing on industrial development and manufacturing as key strategies for the city's growth, aligning with national policies and local initiatives [1] Industry Development - Recommendations include developing a "new blue ocean" for the unmanned economy to transition from a follower to a leader in this sector, focusing on policy innovation and ecosystem collaboration [2] - The proposal to enhance innovation infrastructure sharing aims to empower the development of strategic industries in Guangzhou, addressing the current lack of collaborative mechanisms compared to cities like Beijing and Shanghai [2] - The pet industry, valued at 300 billion yuan, is identified as a potential growth area, with suggestions to integrate it with other sectors such as biomedicine and fashion [2] - The low-altitude economy around Nankun Mountain is highlighted for its potential, with recommendations to address current operational challenges to transform ecological resources into economic benefits [2] - The beauty industry is urged to enhance its core competitiveness through improved brand quality and innovation [2] Government Planning and Economic Environment - The proposal for a scientific government planning approach to leverage the water economy, which has significant potential, is presented, emphasizing the need for innovative land supply and industry chain optimization [3] - Recommendations for a tiered exit mechanism for business entities aim to promote a healthier private economy by ensuring market competition and preventing systemic risks [3] Legal and Regulatory Framework - Suggestions to optimize administrative checks on enterprises through digital means aim to reduce arbitrary enforcement and improve regulatory efficiency [4] - Addressing the issue of private enterprises relocating out of Guangzhou, recommendations include differentiated rental subsidies and the establishment of a supportive policy framework to retain businesses [4] Agricultural Sector - The proposal to establish an international flower trading center in Guangzhou aims to enhance the competitiveness of the local flower industry, which currently faces challenges in supply chain and infrastructure [5] Social Welfare and Economic Growth - The development of the silver economy is proposed as a new growth engine, focusing on integrating technology and innovative services to cater to the aging population in Guangzhou [6] - Additional recommendations include improving cultural facilities to enhance community engagement and support for the elderly [6]