Core Insights - Beijing's urban rail system has upgraded its payment services to support JCB and American Express cards, making it the first city globally to cover all five major card organizations for public transport payments [1][4][5] - This initiative aims to modernize the national urban transport payment system and enhance China's influence in the international payment industry [1][5] Payment System Upgrade - Starting June 15, the Beijing urban rail network supports contactless payments with JCB and American Express cards across 29 operational lines and 523 stations, allowing passengers to pass through gates without prior ticket purchases [3][4] - As of the end of 2024, transactions using Visa and MasterCard reached 150,000 with a total value of 870,000 yuan, while UnionPay transactions totaled 330,000 worth 1.69 million yuan [3] Global Standards and Economic Impact - The integration of international card payments signifies a deep alignment of domestic transport payment systems with global standards, potentially stimulating inbound consumption and benefiting sectors like tourism and retail [5][6] - The "Beijing Plan" serves as a model for modernizing urban transport payment systems nationwide, enhancing China's regulatory influence in the global payment landscape [5] Broader Payment Convenience Initiatives - Since March 2024, Beijing has implemented a plan to improve payment services for foreign visitors, focusing on enhancing card acceptance across various sectors including dining, accommodation, and entertainment [7][8] - Over 5,000 merchants in Chaoyang District have installed foreign card POS machines, achieving 100% coverage in key commercial areas and tourist attractions [8] Challenges and Future Considerations - Despite improvements, there are still gaps in payment convenience, particularly in small businesses and traditional markets, where acceptance of international payment methods remains limited [8][9] - The need for better integration of international e-wallets with domestic payment systems is highlighted as a critical area for future development [8]

Core Viewpoint - The launch of the "Eight Measures for the Sci-Tech Innovation Board" marks a new phase in the reform of the capital market, focusing on enhancing the inclusiveness and adaptability of the market to technological innovation [1] Group 1: Financing Standards and Innovations - The "light asset, high R&D investment" standard has been established to facilitate financing for innovative companies, allowing them to raise funds more flexibly without being restricted by traditional financing limitations [2][3] - The first successful fundraising under this standard was achieved by Dize Pharmaceutical, which raised 1.796 billion yuan for core product development and establishing a self-research production base [2] - The introduction of this standard is seen as a significant step in alleviating the financing difficulties faced by innovative companies, enabling them to maintain their R&D momentum and competitive edge [4] Group 2: Impact on Specific Companies - Chiplet technology company Chipyuan is advancing its refinancing project under the new standard, which is expected to accelerate its strategic layout in the AIGC and intelligent driving systems [4] - China National Railway Group successfully issued the first central enterprise sci-tech bond, raising 4.5 billion yuan, which reflects strong market recognition of its technology in the rail transportation sector [5][6] - Crystal Integration has also benefited from the new financing measures, raising 2 billion yuan through a technology innovation bond to support its ongoing R&D efforts [7] Group 3: Broader Market Implications - The introduction of the "Eight Measures" and the supportive policies for sci-tech bonds are expected to create a more inclusive financing environment for technology enterprises, enhancing their ability to innovate and grow [8] - The collaboration between the capital market and technology sectors is anticipated to foster a positive cycle of development, where financing supports technological advancements and vice versa [8]

2025 年 06 月 15 日 静待中报行情，关注广信科技新股 申购 ——北交所策略周报（20250609-20250615） 本周策略观点： 本周市场行情： ⚫ 市场：本周北证 50 指数下跌 3.11%，跌幅居前。北交所个股中 109 只股票上涨，九菱 科技、路桥信息涨幅居前。157 只股票下跌，1 只股票持平，涨跌比为 0.69。估值：北 交所 PE（TTM）均值 94.99 倍，中值 52.41 倍；创业板 PE（TTM）均值 77.78 倍，中 值 34.91 倍；科创板 PE（TTM）均值 77.03 倍，中值 32.51 倍。交易：本周北交所成交 量为 74.47 亿股，环比增加 63.82%；成交额为 1630.15 亿元，环比增加 64.10%。本周 北交所融资融券余额为 55.16 亿元，较上周增加 0.68 亿元。要闻：开展北证专精特新指 数全网测试和存量上市公司证券代码批量切换仿真测试。 北交所新股： 新三板动态： ⚫ 本周新挂牌 1 家，摘牌 5 家，周新增计划融资 2.88 亿元，完成融资 1.18 亿元。 风险提示： ⚫ 个股业绩季度波动过大风险，宏观经济下行的风险。 相关研究 ...

6月15日，北京商报记者从北京市交通委、人民银行北京市分行、市金融局获悉，为进一步优化北京城 市轨道支付便利服务，提升入境游服务品质，助力北京打造国际消费中心城市，今日起，北京城市轨道 新增支持境外发行的JCB卡和境内外发行的美国运通卡（American Express）非接触式拍卡过闸及购补 票功能。这是继2024年9月支持万事达卡（Mastercard）、维萨卡（Visa）后，北京交通领域针对境内外 乘客支付便利性的又一次重大升级。至此，北京城市轨道成为全球首个全网覆盖中国银联、万事达、维 萨、JCB、美国运通五大卡组织支付服务的城市轨道交通系统。 京投路网公司首席专家张莉表示，此次服务升级覆盖全路网29条运营线路（含2条机场线、西郊线、亦 庄T1线）、523座车站以及市郊铁路S2线，支持全网、全时段、全闸口拍卡过闸。乘客无需提前购票或 下载应用程序，持卡贴近闸机感应区域即可秒速通行。 张莉表示，"外卡拍卡过闸"只是一个方面，北京市轨道交通为外籍乘客提供的是一个地铁出行刷卡、购 票及补票全场景的支付服务便利化体验。比如说，外籍乘客在搭乘北京市地铁时，既可以直接使用其境 内外发行的万事达卡（Masterca ...

Core Viewpoint - The Xiang Business - China-Africa Economic and Trade Promotion Event held in Changsha aims to create a high-level platform for cooperation between Xiang merchants and various sectors in Africa, focusing on innovative mechanisms, case sharing, and project implementation [1][3]. Group 1: Economic Cooperation - The number of Xiang merchants globally exceeds 4 million, with industries spread across over 180 countries and regions [3]. - Trade volume between Hunan and Africa has increased from 18.16 billion yuan in 2018 to 54.85 billion yuan in 2024, highlighting the growing economic ties [3]. - Key products exported from Hunan to Africa include construction machinery, rail transit equipment, advanced steel materials, agricultural machinery, and small hardware [3]. Group 2: Institutional Development - The "Hunan Overseas Chamber of Commerce (China-Africa) Economic Promotion Committee" was officially established to facilitate resource integration, project matching, and risk prevention for Xiang merchants [3][5]. - The establishment of this committee is expected to enhance bilateral investment and trade facilitation [3]. Group 3: Project Collaboration - During the event, representatives from various companies shared insights on project investment, industrial cooperation, and technological innovation, aiming to foster complementary advantages between China and Africa [5]. - A series of cooperation projects covering agriculture, manufacturing, information technology, and energy resources were announced, laying the groundwork for future collaborations [5]. - Multiple project agreements were signed during the event, marking a transition from intention to substantial cooperation between Xiang merchants and African enterprises [5].

中新网天津6月13日电(记者周亚强)第一届城市轨道交通资源循环研讨会13日在天津举办。大会以"循环 科创赋能、绿色引领变革"为主题，吸引来自相关行业协会、政府部门、高校及企业的近200名代表参 会，共同探讨城市轨道交通资源循环高质量发展路径。 中国城市轨道交通协会副会长兼秘书长宋敏华在致辞中表示，城市轨道交通进入运营建设并重、以运营 为主导的新发展阶段，深化城轨行业资源循环利用具有重要现实意义。"希望凝聚全国城轨交通行业资 源和智慧，深化绿色转型，共同推进城轨交通循环经济新生态构建。" "我国轨道交通行业正步入设备更新与退役的关键阶段，这为资源循环利用带来了重要机遇。"中国资源 循环集团党委常委、副总经理文峰指出，要加快共建良好生态，以标准建设为引领，打破壁垒，促进资 源共享，构建覆盖全产业链、全价值链的大循环生态，推动技术、管理、商业模式创新，激发行业新活 力。 本届大会由中国城市轨道交通协会技术装备专业委员会、天津轨道交通集团有限公司联合主办。(完) （文章来源：中国新闻网） 中国循环经济协会常务副会长赵凯称，轨道交通循环利用产业尚处起步阶段，协会将加强与轨道交通行 业协同合作，共同推动轨道交通领域资源循 ...

Group 1 - Guangzhou Metro is set to open two diagonal lines, Line 10 and Line 12, enhancing urban rail transit connectivity [1] - Line 12 spans approximately 37.6 kilometers with 25 stations, significantly improving service levels by integrating with existing lines [1] - The eastern section of Line 12 (from Ersha Island to South University Town) is 15 kilometers long with 9 stations, while the western section (from Xunfenggang to Guangzhou Sports Center) is 12.9 kilometers long with 9 stations [1] Group 2 - The Guangzhou Baiyun Station is the largest span station in the metro system, featuring a 24-meter column span and a total area of about 180,000 square meters [2] - Baiyun Station is designed as a modern comprehensive transportation hub, allowing for future connections to national rail and intercity traffic [2] - The station incorporates natural light and landscape elements into its design, reflecting the city's geographical features and enhancing the underground experience [2]

山大南路站至茂岭山路站区间地质条件复杂，且下穿窑头沟大桥。区间穿越线路上层为粉质黏土，下层为风化程 度不同的闪长岩，典型的"上软下硬"复合地层；区间在穿越窑头沟大桥期间，盾构掘进不仅遭遇了难以处理的高 强度孤石和建筑弃渣，还面临丰富的基岩裂隙水。更棘手的是，盾构机还需在浅覆土条件下穿越窑头沟及多条密 集排布的地下管线，盾构掘进沉降控制和安全风险极高。 面对复杂的地质条件和严苛的施工环境，由中铁上投总包部、济南轨道交通集团建投公司6号线项管部、中铁二局 项目部组成的项目团队迎难而上，提前周密调查沿线建筑物及管线情况，制定并落实精细化的施工方案和风险管 控措施，施工期间严格执行24小时领导带班制度，以高度的专业精神、精细化的管理和创新的技术手段全力攻 坚。项目团队科学制定掘进参数，对盾构姿态和管片拼装精度进行毫厘必争的控制。针对下穿窑头沟大桥的风 险，提前在河底施作抗浮板并对不良地层进行预加固，同时精细组织了高难度的开仓换刀作业，有效应对了孤石 和建筑弃渣回填不良地层挑战。 山茂区间的顺利贯通，不仅成功攻克了盾构穿越富水地层、高强度孤石、建筑弃渣、软硬复合地层等复杂地质施 工难题，并且确保了关键线路重大节点的突破 ...

Core Points - Zhengzhou Metro has opened 35 civil air defense service points for citizens to escape the heat for free, addressing the urgent need for cooling during the ongoing high temperatures [3][4] - Citizens can locate these cooling points using the Zhenghao Ban APP by searching for "Civil Defense Map" [3][6] Group 1 - The 35 civil air defense service points are strategically located across various metro lines, including Line 1, Line 2, Line 4, Line 5, Line 6, Line 7, Line 8, Line 10, and Line 12, providing extensive coverage [4] - Each cooling point is equipped with essential amenities such as tables, chairs, reading shelves, entertainment facilities, and heat prevention supplies [4][5] - The service points also offer practical items like hot water, sewing kits, raincoats, umbrellas, and charging banks to meet various passenger needs [5] Group 2 - The cooling points are designed to be clean and comfortable, providing a refreshing environment for citizens, especially those working outdoors [5][7] - Citizens have expressed a desire for further optimization of services, including more seating, reading materials, and extended operating hours [9] - Suggestions for additional amenities include free access to drinking water, magazines, and games to enhance the experience at the cooling points [9]

Core Insights - The Shenzhen Metro Line 25 Phase I project has officially commenced the assembly of prefabricated components at Longhua Park Station, marking it as the first fully prefabricated rectangular metro station in the country, which will provide significant insights for industrialized construction in the metro sector [1][2] Group 1: Project Overview - The Line 25 Phase I project is a key component of Shenzhen's fifth-phase metro planning, stretching 16.5 kilometers with 14 stations, including 5 transfer stations and one vehicle depot [1] - Longhua Park Station is located at the intersection of Longguan Avenue and Longhua People's Road, featuring a two-level underground island station design with a total length of approximately 211 meters [1] Group 2: Construction Innovation - The project employs a rectangular fully prefabricated structural system, with major components such as the base slab, side walls, and roof being precisely prefabricated in a factory, with the heaviest component weighing up to 114 tons [1][2] - Advanced construction techniques include the use of a 180-ton gantry crane for high-precision lifting and an auxiliary cart for efficient assembly, resembling a "building block" approach [1] Group 3: Challenges and Solutions - The construction site faces significant challenges due to dense surrounding buildings, complex pipelines, and limited space [2] - To address these challenges, the company has implemented a millimeter-level precision control system for the gantry crane, along with intelligent positioning systems and hydraulic leveling devices to ensure high-precision placement of components [2] Group 4: Urban Impact - Upon completion, Line 25 Phase I will enhance connectivity with urban spatial structures and service core urban areas, supporting the development of key districts and improving transportation links for areas previously lacking rail access [2] - The project will also facilitate coordination with existing metro lines, maximizing network efficiency across the region [2]